His critics believe he’s not done anything outside his crazed and controversial war against drugs but the business community thinks otherwise because they think that amid the controversies of President Rodrigo Duterte’s drug war lies a potential for economic boom that the Philippines hasn’t seen for many, many years.
It has really been just less than two months since he began his term but the business sector believes that change is about to happen. Of course, there’s still former President Benigno Aquino to thank for in laying the groundwork for a strong economy but the fact that Duterte is seen as a strong leader who fulfills his promise is already a strong quality that the business sector believes will bring the economic boom to the country.
Moreover, the war against drugs is not the only one the president has focused on, despite what his critics are saying. In fact, he had also been busy fighting corruption and red tape in the government. With lesser time needed to process documents and finding no need to pay someone just to hasten the procedures, businesses see a better future with the Duterte government.
Also, there are plenty of plans for expansion of development outside Manila, especially in Mindanao. This means more work for the people and more potential for businesses to flourish.
Henry Schumacher of the European Chamber of Commerce in the Philippines said, “I believe infrastructure is going to grow very fast and it will have a double or triple effect. Money will be available. An iron fist is going to be behind it.”
It is also worthy of note that the president has told the telecommunications companies in the country to speed up – that had been in May. If they won’t find a way to do it sooner, we’re willing to bet they would soon earn the ire of the president and find a solution pronto!
With faster and, hopefully, cheaper internet and telecommunications options, the country will surely attract more investors in the BPO and other sectors relying on the internet to get things done.
There’s also hope that the public transport options might also be improved, especially with the upcoming construction of the Mindanao Railway System planned in 2017, possible improvements with the MRT/LRT systems in Metro Manila, crackdown against colorum vehicles, and many others.
Aside from all those things, remittances from OFWs have also been getting stronger and better, thanks to the administration’s steps to help out these workers.
Indeed, this administration is just starting out but if his staunch supporters and the business community are to be believed, something good is about to happen to the country’s economy in the coming months… We are surely hoping that would come soon!
Source: GMA News