Year of the Horse

Chinese astrology tells us 2014 is the Year of the Wood Horse, bringing with it plenty of positive vibes. The horse is regarded as an intelligent and reliable animal that supposedly helps men achieve success and victory most especially in battle. The horse is the seventh sign in the Chinese zodiac, looked upon with favor by many Chinese who equate the animal with elegance, power, energy, stability and perseverance.  

Most Filipinos have hopeful expectations for this new year, according to the latest SWS survey where 94 percent of respondents believe that 2014 will be better than 2013 – the Year of the Snake – which was marked by devastating calamities and disasters both natural and man-made, the most catastrophic of which was super typhoon Yolanda that pounded the Visayas region in November last year, dislodging the man-made disaster called Janet of the pork scam fame from the glare of media and public scrutiny. Despite all that, there were a number of positive developments last year, among them the impressive economic performance of the Philippines that outpaced the growth of many of its neighbors in Southeast Asia.

Not surprisingly, businessmen are hoping that our economic growth will gallop even faster – that is, if fundamental problems are reined in and tackled to make growth really inclusive – meaning the benefits of a robust economy will trickle down and reach the lowest sectors of society, in particular the 40 percent of our population who live on less than $2 dollars a day. Poverty makes people very vulnerable whenever typhoons, earthquakes and other natural disasters strike – all the more reason Congress should speed up the passage of key legislation to sustain the country’s momentum and most importantly, make it truly resilient to withstand both natural and political disasters.

 Sadly, a Supreme Court TRO once again derailed the implementation of the Reproductive Health law – a critical piece of legislation that can undoubtedly help the country attain inclusive economic growth. After all, it would be very difficult for government to gain a lot of headway with poverty alleviation efforts if economic growth is outpaced by population growth – the usual game of catch-up – with more people to feed with their growing families and more resources needed for health services and yes, quality education.

With two years to go, the Aquino administration has to hit the ground running as far as rehabilitation and rebuilding is concerned in the disaster-stricken areas in Cebu, Leyte, Bohol as well as Zamboanga City that was pounded by renegade elements of the Moro National Liberation Front. According to a report by the UN Economic and Social Commission for Asia and the Pacific, the reconstruction activities in the wake of Typhoon Yolanda’s devastation will help raise economic growth in the country. Many are also optimistic that with “rehabilitation czar” Ping Lacson at the helm, the P100 billion that has been allocated for reconstruction purposes will be put to good use and not “diverted.”  

One bright spot in the horizon is the business process outsourcing industry that is expected to generate 124,000 thousand jobs this year, which can go a long way in addressing the problem of unemployment especially among new college graduates. According to Pasig Representative Roman Romulo, the BPO industry contributes as much as $27 billion in yearly revenues. Dollar remittances from overseas Filipino workers are also expected to grow even more, with a record $22.5 billion sent in by OFWs in 2013 – a major source of the country’s foreign exchange reserves and one of the reasons why the Philippines emerged relatively unscathed by the financial shocks that bit many countries in the Year of the Snake.

Feng shui experts tell us the Year of the Horse can also be characterized by urgency – and this is something that we hope the Department of Transportation and Communications will be very conscious of this 2014 considering that the Aquino government has put a lot of stock into its public-private partnership program. As noted by experts, infrastructure is necessary to spur growth in many industries such as agriculture, manufacturing and mining, among many others.  At the onset, biddings for major projects have been repeatedly delayed – dampening the enthusiasm of investors who have been complaining about the lackadaisical attitude of certain DOTC officials who probably don’t subscribe to the saying that time is money.

Fortunately, it seems that things are starting to move a bit faster now judging from the news that the DOTC is expected to issue the notice of award tomorrow to the winning bidder of the Mactan-Cebu International Airport project. Megawide Construction and its Indian partner GMR Infrastructure Ltd. bested six other bidders with an offer of P14.4 billion – said to be the highest premium for a 25-year concession to operate the country’s second biggest airport and construct a new terminal.

Contrary to negative reports, GMR is the third largest private airport operator and has a track record of upgrading airports into becoming globally ranked establishments, like what it did with the Delhi Airport which was ranked 101st in ASQ (Airport Service Quality) ratings before GMR took over in 2006. By 2012, the airport was already ranked 4th – in the same league as Singapore’s Changi Airport and South Korea’s Incheon Airport. Obviously, we need to upgrade our airports to attract tourists (including high rollers) and foreign investors whose funds are needed to rev up employment. Airport facilities are the first things most tourists and businessmen see that gives them their first impression of a country.

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Everyone is hopeful the Year of the Horse will give us the fresh energy to leap forward and gallop our way to a better Philippines.

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