Phl at the crossroads
As we all take a break this Holy Week, some of us will pause and ponder on our own individual journeys and think about what lies ahead.
Come Easter Sunday, we may have renewed vigor and energy to carry on, reflecting on our own crosses or where we have been or where we are heading. We may find ourselves at the crossroads; we may dream new dreams or set new goals, big or small.
The great Filipino dream is simple – to have one’s own home, send one’s children to school and hopefully bequeath to them a better life.
It’s about thriving and not just surviving the daily grind and this is possible in a society which provides its people gainful opportunities so they can achieve their dreams.
Toward this end, we need more jobs – and better jobs – for Filipinos.
In short, our own individual stories depend largely on our country’s journey.
As it is now, the Philippines stands at a pivotal crossroads. We are a country with so much potential and we have a chance to secure a prosperous future for the coming generations.
Move investments
In fact, many institutions such as the World Economic Forum (WEF) and foreign banks are optimistic about our future.
Our banking reporter Keisha Ta-asan reported on Wednesday HSBC Global Research’s outlook on the Philippines.
The Philippines would be able to attract more foreign direct investments (FDIs) in the coming years amid reforms that have improved the country’s business climate, HSBC Global Research said.
However, HSBC said that the country should first address structural and institutional challenges as these bottlenecks could prompt some investors to look elsewhere in the region.
True enough, despite our pool of talented people, many foreign investors have turned to our neighbors for their expansion because of the many challenges in the country.
Against this backdrop, we need reforms to pave the way for advanced critical infrastructure, more renewable energy projects, modern agriculture, etc.
WEF president Børge Brende, as I said in an earlier column, underscored the need for substantial investments for our country to achieve a major transformation. He said these investments would fuel stronger economic growth and make us a formidable player in the world economy.
Indeed, the Philippines must look beyond its borders for the capital necessary to elevate its economy to the standards of developed nations or even leapfrog into a stage of advanced economic prosperity.
To facilitate this transition, there’s a pressing need to foster local innovation and talent development. The success of various hackathons has demonstrated the capacity of Filipinos to excel when provided with appropriate opportunities and support.