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Let me
start by stating that despite what happened during the
Energy Committee hearing at the Senate, we at the Joint
Foreign Chambers (JFC) will not be discouraged from
pursuing our efforts to foster closer ties between the
Philippines and our respective countries.
Like any
human being, “foreigners” also appreciate being treated
with civility and respect as “guests,” with the
understanding that it is our genuine interest to see the
Philippines
succeed and prosper because our business depends on it.
There
are a few thousands of us “foreigners” working here in
the Philippines. Conversely, there are over 10 million
Filipinos working in other countries referred to as
overseas Filipino workers (OFW). Personally, I would
prefer to call them “expatriates.”
These
overseas Filipinos with their $15 billion in annual
remittances have kept the Philippines afloat. Without
them, life in the country would definitely be much more
difficult.
It is
interesting to note the JFC, consisting of Australia-New
Zealand, Canada, Europe, Japan, Korea and the United
States of America, are currently hosting more than 5
million OFWs or expats.
In
Europe alone, the number is expected to hit the
one-million mark by the end of the year, while there are
only about 1,000 expatriates from Europe that are
working here in the Philippines at present.
That
would mean a ratio of 1:1,000, which, in my view, will
continue to increase in the years to come in the
Philippines’ favor.
In
general, we “foreign” expats find the Philippines a good
place to work and live in. Here, we feel at home and are
treated with utmost respect by Filipinos who are known
for their exceptional hospitality.
I am a
living testament of these happy “foreign” expats, having
lived in the Philippines for nearly 30 years and being
happily married to a Filipina who is a granddaughter of
national hero Dr. Pio Valenzuela.
My wife
and I have been blessed with four Filipino-French
children who can speak Tagalog fluently. Because of my
wife Ara, I am proud to be part of the prestigious
“Kaanak 1896” which I attend regularly with my in-laws.
I do not
consider myself as a guest, but as a stakeholder.
Furthermore, after having built our house and farm in
Puerto Galera 13 years ago, I am proud to be named an
“adopted son” of Puerto Galera after our Puerto Galera
Bay became a certified member of the Club of the Most
Beautiful Bays in the World through my humble personal
initiative.
The same
thing can be generally said of the satisfaction of
Filipinos working in Europe. They are professionals
whose work is greatly appreciated, recognized and
respected by their employers and the community they live
in.
Europe
matters to the Philippines in the same way that the
Philippines is important to Europe.
Last
year, foreign direct investments (FDI) to the country
were at a two-year high of $2.90 billion, with the
biggest chunk coming from Europe.
We at
the JFC are dedicated to bring more investments to the
Philippines. There is no doubt that what the country is
getting now is just a drop in the bucket.
We are
very much determined to increase it. We believe the
Philippines could get as much as $10 billion annually in
the years to come provided that barriers and bottlenecks
in the administrative and legislative sectors and the
Constitution are addressed.
We need
a road map. We need the government to show us the
direction it wants to take. We also need a competitive
and stable business environment.
It is an
established fact that the most progressive countries in
the world are those that get the most FDIs. The more
FDIs the Philippines receives, the more prosperous the
people will become. It will also lead to a stronger
middle class.
Look at
the United States of America, Canada, Germany, France
and the United Kingdom as examples. In Asia, take a look
at China, Malaysia, Singapore and, most recently,
Vietnam.
Europe,
by the way, is the top recipient of FDIs in the world.
Europe loves
investments. We know it is important. It shows in the
economy and the per capita income of its citizens.
In
Southeast Asia, Singapore last year was the recipient of
$36.90 billion in FDIs. Considering that its total land
area is just roughly the size of Metro Manila, that
investment figure becomes even more amazing.
Vietnam,
ravaged by war a few decades ago, got $11.30 billion in
FDIs last year. For the first four months of the year,
FDIs in
Vietnam
already reached $10 billion.
Looking
at our local situation, the JFC combined has about 2,000
member-companies in the Philippines. These companies
have substantial investments in the country and continue
to encourage more investments.
It is
our duty and obligation in the JFC to make clear the
concerns of these 2,000 companies to the proper
authorities. These valid concerns not only can affect
the financial bottom line of these companies but, more
important, the welfare of the one million Filipinos they
directly employ.
Still,
no one can deny the fact that just like the Filipinos
working abroad and the remittances they send back to the
Philippines, these 2,000 companies are just as important
to the country and its economy.
Many of
the JFC member-companies have been operating in the
country for decades. These companies also help sustain
the Philippine economy. They provide sound employment to
Filipinos. They provide clear signals to potential
investors that it is worth their time to look at
investment opportunities in the country.
Also,
corporate social responsibility (CSR) has become a
dictum of most European companies, especially when they
are confronted by so much poverty in areas where they
operate.
CSR
leads the way to community development, which has a
direct impact on alleviating poverty, which, in turn,
contributes to the sustainability of important projects.
Alstom,
Holcim, Pamatec-ETDE Bouygues and Shell, among many
others, are good examples of companies who practice CSR
in the country. Their ultimate aspiration is to see the
Philippine economy develop and realize its great
potential.
In her
speech at the vin d’nonneur on June 12 in celebration of
the Philippines’ 110th year of independence, President
Gloria Macapagal-Arroyo acknowledged the important role
of the international community in the development of the
Philippine economy.
She
said, “It is important to acknowledge the important role
that our international friends and allies have made to
our national development. This includes the countries
and organizations who are our development partners and
the foreign investors who have become part of our
business community and who have brought their
technologies and capital to the Philippines. You are a
part of the Philippine economic success story. We are
grateful for your contributions and your commitment to
our nation and our people.”
Thank
you, Mrs. President. The words of President Arroyo will
be much appreciated by the foreign community and past
and future investors.
And
last, but not the least: We all want and need
competitive power rates. It is not good for business if
power rates continue to remain high. We believe that
liberalization and fair competition is needed to achieve
that goal. |
