MANILA, SEPTEMBER 30, 2010 (ABS-CBN) By Caroline J. Howard, - President Benigno Aquino III brought home good news as he returned to the country from the US early Tuesday morning, his first overseas trip as the Philippines' chief executive.
The President announced he expects between 40,000 to 200,000 jobs from around US$2.4 billion in new investment opportunities.
Weighing in on the President's trip, two former government officials rated it a success.
Speaking on ANC's "The Rundown" on Monday night, former Finance Secretary Roberto de Ocampo gave Aquino a grade of 8 out of 10. As an academic, he teased, he always liked to leave the impression there is room for improvement.
"A presidential visit should be measured in terms of what its objectives were, and whether those were accomplished and what was tangibly brought back," de Ocampo said, noting that these included getting financial commitments, such as a grant from the Millennium Challenge Corporation (MCC), giving the international business community a sense of the Aquino administration's game plan for drawing investment, and engaging the overseas Filipino community in dialogue.
"The fact that there's US$434 million [from MCC], and that that's not a dream, is important. Looking at the list of companies he met with, there are fairly firm ones there," de Ocampo said, citing planned expansions by companies like J.P. Morgan and Hewlett-Packard in the Philippines, and the jobs such opportunities would create.
"We have to wait for their own report to know the degree of probability these plans would actually happen," he added.
Maceda: Package much less than GMA
In a phone interview on ANC's "The World Tonight" on Monday, former Ambassador to the U.S. Ernesto Maceda said President Aquino did relatively well.
"While the amount [of investments/aid] is much less than what former President Gloria Arroyo used to bring home, he did rather well," he said.
Aside from bringing more foreign investments into the country, De Ocampo and Maceda said the President managed to meet the objectives of his first overseas trip, which included appearing on the world stage, giving the international community a measure of a man that can be trusted, and showing his sincerity with meeting the country's reform agenda.
Measure of the man
"He did quite well in projecting that he's the new leader of the country and has a sincere reform agenda, even if it remains to be seen whether they're accomplished or not. But he has dispelled some of the talk that he lacks competence. His meeting with the business sector and other leaders shows he is knowledgeable in other sectors of governance," Maceda, who served as US ambassador during the Estrada administration, said.
De Ocampo also noted the President's confidence in his economic team, and also in is own grasp of the issues, not once having publicly checked with his Cabinet members during his discussions in his overseas trip.
"He's quite comfortable in his own ski. That will provide the impression he can provide the kind of leadership by example to the rest of his Cabinet; that will be important in giving the signal that the Philippines is indeed back in business under new management, the kind that will allow us to once again take advantage of all the positive aspects of the Philippines," de Ocampo added.
De Ocampo noted this trustworthiness is evident in government's handling of the post-Manila hostage crisis situation. "The government has been forthright. They have shown the picture of an investigative process that was not trying to sweep anything under the rug. That would be reassuring for the business community."
But Maceda believed the President could have still pushed for special assistance for immigration, and better police and military equipment on the sidelines of his visit.
'RP open for business'
De Ocampo, however, said President Aquino was also able to send a signal to the international business community that the Philippines is open for business.
De Ocampo expressed optimism in the government's plan to build public-private partnerships, adding that specific targets looked realistic, as well as steps to reduce the time it takes to start a business.
Given the gains from the President's first overseas trip, Ocampo said the Aquino government will have to prove it has the political will to meet its plans: a 7% to 8% economic growth target, improving revenue efficiency and the government's fiscal position, and making the business environment more attractive by reducing bureaucractic red tape and corruption through computerization.
"The potential pitfalls will be whether this is all words, and whether we can really 'walk the talk.' Many Filipinos have to adjust at looking at a President who's not flamboyant, who's not interested in photo ops but would rather quietly grind and get the thing done," he said.
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Chief News Editor: Sol Jose Vanzi
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