Stronger Phl-Japan ties

The recent visit of Japanese Prime Minister Shinzo Abe and his wife First Lady Akie Abe to the country went off without a hitch. The Japanese Prime Minister is the first head of state to officially visit our country in 2017 and security was tight as the Prime Minister and his wife traveled between Manila and Davao during their stay.

I was happy to read that the trip went well and can only hope this serves to further strengthen our country’s ties with Japan as we can only benefit and learn from working with such a developed and disciplined nation. President Duterte went to visit Japan last October and described the PM as a “special friend, closer than a brother,” something that was a relief to most Filipinos as we know the president can get quite colorful with his words – especially when it comes to international relations.

All appears to well though when it comes to the Philippines’ relationship with Japan and I hope it stays that way. While he was here, PM Abe and President Duterte were set to discuss counter terrorism, drug rehabilitation projects, infrastructure development, maritime cooperation, and development projects as shared by the Department of Foreign Affairs.

It’s reassuring to know that our president is discussing ideas with the leader of such a progressive nation. I have always admired Japan because despite not being the largest country in Southeast Asia – they have always remained one of the most advanced. Despite tragedy and devastation, Japan has always been able to get back on its feet and get right back to where they need to be. They are extremely efficient and they know exactly who they are, what their strengths are, and how to leverage them accordingly – all things that I think would be beneficial for us to learn.

I remember in 2011 when the terrible earthquake and tsunami hit Japan, our country sent what aid we could to help them get back on their feet. It was incredible because the country rose from the tragedy so quickly and it wasn’t long before they were up and running as if nothing happened. Still, we went to their aid when needed and when the opportunity arose they quickly returned the favor sending their relief team to the Philippines when Yolanda hit. Despite the fact that I truly believe they would have sent help regardless, it was still heartwarming to hear that they never forgot the help we gave them and immediately jumped at the chance to return the favor.

For me that is what good international relations is all about. I’ve said it once and I’ll say it a million times, we don’t live in a bubble. The way the world is now, we are all one global community and we have to do our best to work together. That is how we can all uplift our lives together. Hopefully the world leaders see the benefit of this and strive to be inclusive instead of divisive – which was a recurring trend in 2016.

The strong relationship President Duterte maintains with PM Abe and Japan gives me hope and I look forward to strengthened ties and more mutually beneficial projects and cooperation with the Japanese in the years ahead.

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President Duterte has made up his mind when it comes to the proposed SSS premium hike and has decided not to defer it despite the protest of some senators calling for a delay. I fully support the president’s decision to make changes in the SSS as I believe that in the long run it will be more beneficial for everyone especially the retirees and senior citizens who rely on their pension to help them in their daily expenses post retirement.

The president plans to push forward with the P1,000 pension increase and to cover the costs also implement a 1.5 percent increase in member’s contributions. Currently with over 34 million SSS members, the increase in contributions can definitely cover the hike and preserve the actuarial stability of the SSS which is what most were concerned about when the pension hike was proposed last year.

I know that there are still details that need to be ironed out, but I think it is important to push this through. To be sure, members who will feel the pinch of the increase will not be happy about it, but they have to look to the future and think of it as an investment. What they are paying for now will be coming back to them 30 or 40 years down the line when they, in turn, are receiving their own pension.

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Last week we had another jovial meeting at the journalist and business executives group The Tuesday Club at the Edsa Shangri-la. As is Tuesday Club custom, the group once again had the pleasure of welcoming our good friend Bangko Sentral ng Pilipinas (BSP) Governor Amando ‘Say’ Tetangco as our guest of honor. It’s always a good start to the year to discuss the financial forecast and as usual it was a packed full house with good conversation, lots of learning, and lots of laughs.

As I accompanied the governor on his way out I asked whether or not he would accept the president’s invitation for him to serve another six-year term. He said that he was still thinking very hard about it. I truly believe Governor ‘Say’ is excellent at his job and is only one of a handful of central bank governors very highly regarded in the international economic community. It would be such a pity to lose him.

I hope ‘Say’ seriously considers serving another term. He is still quite young and there is still so much he can do.