by Klaus Doring
Yes, I strongly agree with Michael V. Ferrer, president and investment fund managing director of ATR Kim Eng Asset Management Inc., who told media, that the Philippines could indeed be the star in the Asian-led global economic recovery if the new government could set the right tone for investors.
If we look around, we might notice that most Asian economies are posting impressive growths. Challenges, that could also be taken advantage of by the Philippines. If we look to neighbour Indonesia, we have to accept, that this Southeast Asian country has been the favorite among investors in the past two or three years because it is relatively stable politically and the government has implemented several reforms.
As we all know, Thailand has still a lot of political difficulties. Are we able to catch a glimpse of hope in the Philippines, because “we are over the hump already following the holding of the national elections” – as Michael Ferrer stated? Maybe. Hopefully! I am sure, possible investors are looking out first at the new Philippine government, how the policy thrust will look like. Allow me to quote Ferrer again:
“Campaigning is one thing, but people have to see you address issues you highlighted during the campaign, fiscal, tax, budget deficits and other things like infrastructure or tourism!” Very well said, Sir! I wish also our local government reads it and act and deal with it.
Another thing is: the Philippines has a huge and incredible pool of talents making them more and more employable; willingness to learn, team work, energy, motivation, co-operation, reliability and a great desire to achieve. These are things possible investors are looking for: working for and in the Philippines with the most important resource–THE PHILIPPINO PEOPLE.
Catch a glimpse of hope? Yes, but we all rely on our local and national administrations!
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The head of the German Chambers of Industry and Commerce (DIHK – Deutsche Industrie- und Handelskammer) has spoken of a “job miracle” in German industry, and predicted 100,000 (!) new jobs by the end of the year. Good, and hopefully another glimpse of hope!
Email me: doringklaus@gmail.com or visit www.germanexpatinthephilippines.blogspot.com or follow me in Facebook.
