I attended the German Chamber of Commerce lecture discussion to see what the invitation could possible mean by “Creating more and better jobs: we can work it out.†The guest speaker was Rogier van den Brink of the World Bank. The presentation was very detailed and included graphs. I confess that as a layman with no training in economics I was groping to find the relation between what the speaker said and my own observations about politics and the economy of the Philippines in general.
But I did not wish to disrupt his attempt to make the Germans aware of what he said that there was a window of opportunity. It was a full house and there was interest on what they can do to help. There were many things that could be done but the government will have to do its bit about the ease of doing business here. Too difficult and that goes for local businesses as well.
A young man next to me said it plainly when I asked him why should the removal of the 60-40 restriction on foreign investment matter to him? It meant he would not have to know Filipinos who would partner with him to get over the restriction. Others do but there were more who are not able to because being a foreigner he did not know Filipinos. I was sure that he was not the only one who could invest but did not because of the constitutional restrictions against foreign investments.
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The World Bank guest developed his lecture into five main points.
“ First, the central policy challenge facing the Philippines today is how to accelerate inclusive growth, the type that creates more and better jobs and reduces poverty. “ He said that by jobs he meant “what people do to make a living.â€
It includes formal work and informal work. It covers wage workers and self-employment. It covers businesses of all sizes.
By “good†jobs, we mean jobs which raise people’s real income and bring them out of poverty.â€
Second, you already know what reforms are needed to create more and better jobs.
Third, the reasons why these reforms are well known, but not implemented, are also well known. Reforms create winners and losers, and for decades, not centuries, the winners have been unable to convince the losers that implementing these reforms would put the country on a much higher growth path than before, which would also benefit those who would lose out in the short term. Hence, there is no simple and quick technical solution for the reform agenda. It will require a political process and agreement.
Fourth, a unique window of opportunity exists today to accelerate reforms that will help create more and better jobs.
Finally, and more importantly, seizing this window of opportunity is not just the job of the President: government, business, labor, and civil society, need to work it out with a sense of urgency and agree on an action plan on job creation.“
True but the President will have to create an environment for coalition.
Van den Brink’s last word was that we need a crisis and that crisis is we have just more than 832 days left to do it. That was a give-away because as Filipinos we do not put a deadline to reforms. It is a continuing task with this administration and whatever government will follow. We are advocates of constitutional reform and if it takes forever we will just keep at it even if there is so much pressure against it not least of them a President who has said bluntly he did not believe in constitutional reform.
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Miscellany: Unfortunately, unlike a lecture, Filipinos have to deal with the real world with gorier details. Just this week, the brother of one of the most prominent bishops of Mindanao, Bishop Capalla, had been killed by assassins who simply escaped. The reality of the lack of peace and order cannot be brushed aside in any form of coalition for nation-building.
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Passing by Roxas Boulevard, there has been frenetic activity to open another mall, not far from the Mall of Asia. Indeed it is in front of the MOA and would attract shoppers from several condominiums already set up in the area by Federal Land that is behind this newly built mall. The grand opening of Bluebay Walk is on March 29, Saturday 4 p.m. It is located at the corner of Edsa and Macapagal Blvd, In the invitation letter Federal Land president Alfred Ty said this will be a different kind of mall and will cater to families.
“It is a new concept — garden retail arcade — that provides roofed-free flow ventilation shopping, while at the same time shoppers enjoy big open space for outdoor activities.“ So it serves both as a park and a mall where families can gather together in wide open space.
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I also received an invitation from my friend, Sheniech Chen whose company, European Wines will be celebrating their partnership with Hennessy on March 24. She is Chinese-Filipina and works hard at her business of wine distribution of some of the best wines her company imports. Filipinos have become sophisticated wine connoisseurs so Sheineich is on to a good thing. The celebration will be Shangri-la Plaza in Edsa and I have invited all the guests at a party of Cecile Consunji Navarro to join the celebration.
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Another invitation comes from Nordic countries that have banded together for a celebration called the Magical Northern Lights - the First Anniversary Dinner and NBCP Awards, with cocktails, dinner, and entertainment at the Dusit Thani Manila Hotel on March 27, 2014.
They have invited former President Fidel V. Ramos as their guest speaker and will present the NBCP awards.
In case you are not aware, here are the list of Nordic countries that operate in the Philippines, The Besson Group, Ericsson Telecommunications, Maersk Global Service Centres, Electrolux Philippines, Ericsson Telecommunications and SKF Philippines.
For inquiries on table reservations and sponsorship, contact NBCP events secretariat at events@nbcp.com.ph or call 7592246.