Looking forward

Looking forward

Chelyn Torejas

Despite the rallying sentiment for the country’s economy, the Philippine peso has been regarded as one of the well-performing currencies in Asia.

The government has raised its economic growth targets for this year to reflect the impact of lower borrowing costs and inflation, and a stronger peso, Finance Secretary Margarito Teves told Star Friday.

Much of the credit goes to the Overseas Filipino Workers (OFW) whose remittances has become one of the pillars of the Philippine Economy.

Despite the threats and warnings of traveling to the country, the 12^th ASEAN Summit in Cebu City can take part to speed up tourism expositions and investments. World-class performers and athletes, in one way or another have also taken their role in lifting the Philippine banner as a means of building tourism industry using the global stage.

Furthermore, the country’s rich festivities like Sinulog among others in a tropical setting have attracted visitations soon after investments. The expatriates take pleasure with the warm and hospitable Filipinos, though the recent militants’ uprising and series of blasts aren’t a nice way to welcome guests.

In spite of the mounting claims of having poor education, the country’s big number of English-proficient citizens with affordable labor rates spells out opportunity. Call centers, Medical and legal transcriptions and IT based jobs, to name some of the few emerging industries has impressively offered both international and domestic jobs.

The country has been empowered as a legal global player in the international marketplace through the emergence of E-commerce law. In spite of connection disruptions due to the December 26 - 7.1 magnitude earthquake, the International connectivity still links the over 7,000 islands aiming for regional growth generating sound job and income.

The influx of Koreans swarming the country has also played a part in pushing the Philippine economy to another level despite elicited red tape policies. Aside from the expatriates’ desire to learn English, the strategic location of the country makes it even accessible.

Isn’t a democratic country for the people and by the people? The Filipino working force needs the benefits they deserved. If the healthy economy continuously performs well, it would not be impossible to jump-start a change.

Considering the low salary income of majority, the need to preserve the rights of the working force is eminently a necessity. Having E-VAT, PhilHealth, SSS as just some of the few operating costs, an ordinary worker is mostly often left with a lesser take-home pay. There is a need to strike for stability, which can instigate wage increase without affecting the business sectors.

ASEAN’s global development plans for free-fair trade, poverty, terrorism, and the protection of migrant workers among others should come to its fulfillment. If not, certainly the people will soon post questions to the mystery as to why a union of capable, brilliant leaders from different countries fails as an assembly.

But having 10 ASEAN prominent leaders aiding for solutions, there is something to look forward to.