Philippines, Inc.

Philippine STAR columnist Iris Gonzales’ thought-provoking article “How about a tycoon or CEO for president?” caught many people’s attention the other day.

In her column, Iris noted that an “air of frustration” seems to be seeping into the minds of “many of our big businessmen” who are getting increasingly “impatient with our dizzying political landscape,” the “glaring corruption among some of our lawmakers,” including the “move to tinker with our budget.”

“Would a businessman or a tycoon be an effective president of the Philippines? Someone with effective management and leadership skills who can steer our rudderless ship to better shores? Someone who has the brilliance to manage our resources so that our government can provide the right social services to our people? Someone whose goal is no longer just about making money but building a nation for generations and generations to come?” Iris wrote.

This idea got many people thinking that perhaps it is time to consider having a tycoon or CEO for our next president. In fact, a businessman friend even messaged me that this could be “a takeoff from what is happening in the US with Donald Trump, a real estate mogul and celebrity television host, now managing the White House.”

The millions of Americans who voted for Donald Trump believe that he will bring “common sense” back into government, together with his chief advisor, tech billionaire Elon Musk.

Musk, who heads the Department of Government Efficiency (DOGE) tasked to streamline operations and cut “government waste,” has drawn criticism and flak but has also gathered support from many who believe government should not squander taxpayers’ money.

Just recently, a proposal to issue “DOGE dividend” checks to taxpayers is gaining traction, especially after President Trump said he is considering a “new concept” where 20 percent of DOGE savings will be given to American taxpayers while another 20 percent goes to paying down debt.

An article in forbes.com written by Shahar Ziv said the proposed $5,000 DOGE dividend checks could “provide a one-time boost to American households and help improve their financial health by paying off debt or increasing their savings.”

Disclosing the Financial Health Network’s “Financial Health Pulse 2024” report that “70 percent of American households remain financially unhealthy with day-to-day financial realities worsening for many,” the article quoted FHN president and CEO Jennifer Tescher, who said the data indicates that financial health in the US, “especially that of moderate and middle-income households, remains precarious and is influenced by a reliance on credit to stay afloat.”

Saying the proposed DOGE dividend check of $5,000 would be more than double the average tax refunds of a little over $2,000, the author believes this move could provide a substantial financial boost to taxpayers.

Definitely, Filipino taxpayers would appreciate a “financial boost” since many are grumbling that they are always at the tail-end (if not missing) in the list of beneficiaries for government ayuda (aid).

As one reader emailed, “I am a mid-level executive in a modest company, but I also need financial assistance. Why am I (and others like me) being deprived of government ayuda just because I am employed? I wish congressmen would also show sensitivity to taxpayers like me who contribute to government revenue, and realize that I also need help,” the reader ranted.

Perhaps there is really wisdom in having CEOs as presidents since successful corporations are run “professionally” without fear of, or favor to, anyone, because priority is to ensure the company’s profitability and sustainability.

One country that has shown dynamic growth in recent years is the Dominican Republic, with the International Monetary Fund projecting a five percent GDP growth rate for 2025. Led by President Luis Abinader (who obtained his economics degree at the Santo Domingo Institute of Technology, studied Corporate Finance and Financial Engineering at Harvard University and Advanced Management at Dartmouth College in New Hampshire), the Dominican Republic is the fastest growing economy in Latin America. Abinader was executive president of Grupo Abicor (a consortium founded by his father) engaged in real estate, construction, tourism and cement industries before becoming president of the Dominican Republic.

Tiny Palau is also displaying phenomenal economic growth with businessman and politician Surangel Samuel Whipps Jr. as president. Of Palauan and American lineage, Whipps finished a Business Administration and Economics degree from Andrews University in Michigan and his MBA from UCLA. He also founded a group of companies engaged in import, logistics, retail, wholesale, construction and travel. Last July, the World Bank upgraded Palau as a high-income country, and its economic growth is expected at eight percent this 2025, according to the Asian Development Bank’s Asian Development Outlook issued in September 2024.

It seems the idea of a businessman or CEO as president is catching fire, with many talking about the column of Iris Gonzales. Since the Philippines has a high potential of being a “profitable” country, there are those seriously thinking that we need someone with a corporate mindset to run the country efficiently as it navigates the complexities of a highly competitive global arena.

Just like President Trump’s “America First” agenda that prioritizes the welfare of American citizens, this country also needs a leader who will share the vision of President Marcos to transform the economy and make sure that the “return on investment” will redound to the major shareholders and stakeholders – who are none other than the Filipino people.

But the question is, who is that person?

The 2028 Philippine presidential election is still three years away – there’s plenty of time for people to think about this idea. Surely, somebody that fits the bill might just emerge.

*      *      *

Email: babeseyeview@gmail.com