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Saturday, October 29, 2011

Pinoy fast waking up to success

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The Philippines – with natural resources such as gold, copper, nickel and oil and gas aplenty – has tremendous potential. Last year, the republic registered an amazing 7.1% growth rate, and growing.

MALAYSIANS have looked down on the Philippines for decades, seeing the republic as South-East Asia’s basket case, a source of maids, manual workers and little else.

However, with Noynoy Aquino’s thumping electoral victory in last year’s presidential contest, international perceptions are starting to change.

At long last, the republic has a leader with an unquestionable mandate.

Indeed, the Philippines – especially for the businessman – is beginning to look very interesting.

On a personal note, and having experienced how Indonesia started turning around soon after Susilo Bambang Yudhoyono’s victory in 2004, Manila 2011 reminds me a great deal of how Jakarta was all those years ago: gradually reaching some measure of stability before booming.

Of course, recent natural disasters such as Typhoon Pedring have tended to focus our attention on the Philippines’ many weaknesses, much in the same way the 2004 tsunami shook Indonesia.


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