COME'; CITES BIG GAINS IN ECONOMY
[PHOTO - President Benigno Simeon Aquino III delivers his speech
during the ANVIL Business Club 20th Anniversary at the Rigodon Ballroom, The
Peninsula Manila, Makati Avenue, Makati City Friday night March 16, 2012.]
MANILA,
MARCH 19, 2012 (BULLETIN) Citing
the big gains in the Philippine economy, particularly the record jump in the
stock market, President Benigno S. Aquino III proclaimed that "we are on the
threshold of transforming this country, our society, and the lives of our
people."
Speaking during the 20th anniversary of the Anvil Business Club at a hotel in
Makati City last Friday, the President confidently predicted that the best is
yet to come for the country.
Earlier in the day the Philippine Stock Exchange index hit 5,145.89 points, a
new high.
"Who could have imagined, two years ago, that our stock market would set
record highs 21 times in as many months in office by this administration? Just
Saturday, it closed at 5,145.89. I would like it to grow bigger, with more
record highs than my months in service. And I think that is very possible,"
Aquino said.
With greater cooperation between government and the private sector, Aquino
expressed belief that the best is yet to come for the country.
"We are on the road to becoming one of the world's more successful economies:
HSBC (Hong Kong and Shanghai Banking Corporation) recently predicted that by the
year 2050 we will be the 16th largest economy in the world. Of course this is
still a long way off, but two years ago, how many people imagined that we would
be receiving such distinctions?," he said.
"How many people thought that when agencies like the Japanese JETRO agency
surveyed Japanese firms in Asia and Oceania, that their conclusions would say
that we have significant advantages, as far as cost of doing business, the
supply and quality of labor, and employee salaries, compared to other countries
in the region? Making us, in fact, the number one business destination in Asia,
whether in the manufacturing or service sectors," the President stressed.
At the same time, the President also asked for greater cooperation between
management and labor.
"This is just the start. Management has the vision and the resources; workers
have the wherewithal to use those resources and make that vision a reality.
Imagine what heights we can soar to, if management and labor can propel each
other upward by truly working together," Aquino said.
"We can, and we have already been doing it. The challenge before us is to
accelerate this transformation further. Together, it will be done," Aquino said.
The President also said he hopes to attract 10 million tourists to the
Philippines annually by 2016 as he revealed a proposal to reserve 78 new
ecotourism sites.
"There are about 14 million tourists who visit Thailand, about 22-24 million
visit Malaysia. In comparison when we got it to office there was only three
million that visit the Philippines, so therefore this is an experience that has
yet to be experienced by a lot more of the citizens of the world," he said
during the forum following his speech.
Aquino underscored the importance of upgrading the country's airports.
"Once the upgrades in the airports, in particular, have been achieved, and we
have approved upgrades to Kalibo, Caticlan, Puerto Princesa, Laguindingan in
Cagayan de Oro, and others, and of course, Clark will not be left behind. Then
this will make travel easier," he said.
Aquino, who is barely two years in office, said he feels he is already on his
fourth year. The President's term will end at noon of June 30, 2016.
His consolation is that at least his administration is "a little quieter"
than that of his late mother, former President Corazon Aquino, who had to fend
several coup d'etats.
"Well, for one thing I had not to content with nine coup d'etats so it's a
little quieter. The other thing is of course, I think, I did say in my speech
that I'm standing on the shoulders of those that came before us. So I was not
thrust into it and expected---you know, it's like being thrust into deep end of
the pool. At least I was wading in the shallow end of the pool during my
mother's term that gave me some ideas of what to expect when I got here," Aquino
said.
He said there are a lot of "good news" about the Philippines' economic gains
though they are hardly reported in the local media.
Speech of His Excellency Benigno S. Aquino III
President of the Philippines At the 20th anniversary of the Anvil Business Club
[Delivered at the Peninsula Manila, Makati City, on March 16, 2012]
During my younger days in Boston, an uncle of mine, Ricardo "Baby"
Lopa, regaled me with stories about his studies in Wharton. One of his
professors made it a point to remind his students that if at times they think
they are superior in any way to those who came before them to please remember
that they stood on the shoulders of giants.
As some of you might know, this is a variation of a quote attributed to Sir
Isaac Newton—and it held true in the 17th century, as it held true for my
uncle's time, and it holds true for us now. Progress is always built on the
foundations laid down by those who came before us.
Today, we commemorate the 20th Anniversary of the Anvil Business Club. Over
the years, we have seen newer, younger sets of leaders in the business community
stepping up to the plate. As you begin another year, you build on the
achievements of the great men and women who came before you.
Anvil's rise comes at a very interesting time. As many of you here begin to
take the reins as captains and lieutenants of industry, the way we view the
world—and along with it, the way we do business—is indeed changing.
Overseas, we continue to see people seeking to change unjust systems, where a
select few profited at the expense of other sectors of society. We hear calls
for the return of responsible regulation; calls to bridge the widening gap
between rich and poor; and calls to protect the public from the
sometimes-abusive practices of a powerful few.
In many places, this has caused social and political unrest; questions have
been asked with raised voices, and sometimes even with raised fists. It remains
to be seen how smooth the transition will be from the old system, to a new, more
thoughtful, more enlightened way of approaching things.
This is the context in which we find ourselves: a society in flux. In
whatever industry you may be from, and in whichever country, the challenge is
the same: to think on your feet, to keep nimble, and to adapt to changing
paradigms.
Our country has avoided getting directly hit by the global economic slowdown,
but this does not mean that we are immune to its root causes. The Philippine
business community is no stranger to similar disputes on the issue of
equality—specifically between that of management and labor.
For instance, in a small bakery with two employees, overtime is such a simple
thing to agree on: can anyone here imagine as easy a time in a
multi-thousand-employee bakery factory?
The truth is: As companies grow, management becomes more concerned with
profit, while labor demands higher wages and more benefits. Such seemingly
disparate interests breed tension, and often places the two sides on a collision
course.
But this tension, in fact, is unnecessary. No one can argue that both sides
working towards a common goal greatly enhances the chances of success.
The idea that management and labor are always on opposing sides of the table
creates a needless dichotomy, which stunts the progress of individual
enterprises, and, in effect, the greater economy. The central issue today is how
both demands can be met in a reasonable way.
Workers are too often seen as mere factors of production, and obstacles to
greater profit. But a company's success is tied to efficiencies that make it
more competitive.
And one of the keys to competitiveness is a more motivated workforce. Keeping
workers at a subsistence level lowers your workers' morale—and thus limits the
growth of your business.
And it follows that a consumer who is kept on mere subsistence mode cannot be
a source of growth within the greater economy. It is therefore clear that
individual growth is tied to everybody's growth; and that insisting on old
paradigms only leaves companies vulnerable to losing market share to more
efficient companies.
When I was in Congress, I filed a bill that, in general terms, would require
companies to share ten percent of their profits with their workers, once
profits, on an annual basis, grow. The vision behind this measure was exactly
that—to find some common ground between the interests of management and labor.
What is emphasized is that the relationship between management and labor
should not be a zero-sum game, where the gains of one side come at the expense
of the other. It does not have to be that way, and that is the challenge we are
all working to address right now.
As the Chief Executive Officer of our government, I have worked to instill
this idea in the bureaucracy.
When one compares salaries between the public and private sectors here in the
Philippines, one would see that government salaries are indeed very competitive
on the entry-level.
But as one rises through the ranks in government, the salaries begin to pale
in comparison to those for equivalent positions in the private sector.
This country's progress relies heavily on those working for its government;
and the government has to be able to attract—and reward—the greatest minds in
this country.
This is why I have taken the first steps towards more competitive
compensation and rewards for the 1.6 million people in our bureaucracy.
In December of 2011, I signed Administrative Order 25, which created an
inter-agency task force to propose, among others, a results-based performance
management system, which will be used to determine incentives for government
workers based on their individual collective performance. Under the leadership
of the Department of Budget and Management, the Department of Finance, and the
other agencies in this task force, they have been working on a proposal which,
obviously, needs a lot of study.
I stand here today as President of this country—and also as your fellow
leader of an institution, your fellow decision-maker, and your fellow
implementer of a vision. That is a vision that we all should share: not growth
merely for the few at the top, but for everyone who has a stake in our
enterprise.
This is the new way of thinking that can guarantee not merely our survival,
but our collective progress.
Inclusiveness is the value that will allow us to build on the momentum we
have already gained over the past 21 months. It is the bedrock principle behind
our efforts to create a level playing field; to establish reforms in all
branches of government; and to focus our budget on sectors and programs that
have the greatest impact on those, especially, in the margins.
Take for example our Conditional Cash Transfer program, which has, in the
past year, given 2.3 million Filipino families the resources they need to get
by, so long as they attend regular health check-ups and send their children to
school.
These CCTs aren't just about plugging the leaks; they are effectively
investments in our people's future. We are ensuring that children today are
equipped with the necessary skills to be part of tomorrow's workforce.
Furthermore, these CCTs empower the 2.3 million beneficiary families as
consumers: by giving them spending power, they participate in the real economy,
and play a part in its growth. By leaving no one behind, we are enabling every
Filipino to pull their own weight on this path to progress.
Our target this year is to provide conditional cash transfers to three
million families, and I am pleased to announce that, as of last week, we are
well ahead of that target, having already registered 3,029,890 households in the
program.
Ultimately, the key to advancement lies in transforming the "you win, I lose"
view of doing business to one of communal and inclusive growth. This has been a
challenging task, and even though we have done a lot over the past year and a
half, much more remains to be done.
Even before I ran for the Presidency, I knew the weight of the problems of
this country; I knew how much work was required to turn the Philippines around.
But still I chose to answer the call of my people. I did not want to look back
at these years and say that I could have done much more, yet chose to do
nothing.
So please, let us work together, government and private sector.
We are on the road to becoming one of the world's more successful economies:
HSBC recently predicted that by the year 2050 we will be the 16th largest
economy in the world.
Of course this is still a long way off, but two years ago, how many people
imagined that we would be receiving such distinctions?
How many people thought that when agencies like the Japanese JETRO agency
surveyed Japanese firms in Asia and Oceania, that their conclusions would say
that we have significant advantages, as far as cost of doing business, the
supply and quality of labor, and employee salaries, compared to other countries
in the region?
Making us, in fact, the number one business destination in Asia, whether in
the manufacturing or service sectors.
On a more local basis, who could have imagined, two years ago, that our stock
market will have set record highs 21 times in as many months in office by this
administration? Just today, it closed at 5,145.89. I would like it to grow
bigger, with more record highs than my months in service. And I think that is
very possible.
This is just the start. Management has the vision and the resources; workers
have the wherewithal to use those resources and make that vision a reality.
Imagine what heights we can soar to, if management and labor can propel each
other upward by truly working together.
Make no mistake: we are on the threshold of transforming this country, our
society, and the lives of our people. We can, and we have already been doing it.
The challenge before us is to accelerate this transformation further. Together,
it will be done.
Thank you. Good night.
Chief News Editor: Sol
Jose Vanzi
© Copyright, 2012 by PHILIPPINE HEADLINE
NEWS ONLINE
All rights reserved
PHILIPPINE HEADLINE NEWS
ONLINE [PHNO] WEBSITE
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