Amidst terror: Import investments, don’t export labor

The period November 13 to November 20, 2015 was so eventful. Just a week, yet, it was filled with both delightful and horrible experiences. Positively, the week held two economic summits, the Asia-Pacific Economic Cooperation (APEC) and that of the Association of Southeast Asian Nations (ASEAN). While, fortunately, we were able to host the APEC successfully and, likewise, Malaysia did it as well with flying colors, the western hemisphere, Paris, France, in particular, was rocked with bombings that resulted to more than a hundred fatalities. Likewise, Western Africa was shocked with the sudden siege by armed men at Bamako’s (Mali’s capital) Radisson Blu Hotel which resulted to more than twenty fatalities.

Whether these carnages were timed during these summits, we do not know. The fact, however, was that most influential leaders whom these terrorists unequivocally hate were in attendance. Whether deliberate or pure coincidence, we need not spend time delving on that today. What is certain though is that these summits and carnages will surely leave lasting imprints in the minds and hearts of the citizens all over the world. Whatever the long-term consequences shall be for these butcheries, let us just wait and see. Certainly, however, it will not be farfetched that our citizens will be directly or indirectly affected by these horrifying trail of atrocities.

Remember, as one of the world’s largest exporters of labor, Filipinos are spread all over the earth’s lands and seas. The truth is, with over 10 million Filipinos abroad, the Philippines is among the top four labor exporting countries. The other countries being India, China and Mexico. Majority, however, are in the USA and are mostly health professionals. The Middle Eastern countries and other continents likewise have played hosts to some health professionals, IT experts, construction engineers and workers as well as caregivers. Some are in Europe as well. Apparently, they are in countries where the murderers either dwell or are planning to terrorize. Therefore, as these criminals continue to terrorize these parts of the globe, a good number of Filipinos’ lives are definitely at risk too. Such is a sad reality that we, as a nation, shall perpetually face.

However, on a positive note, we shall give more significance on the two summits and figure out what these might bring to our economic well-being as well. Generally, these summits bring about positive results to the member countries. The question though is, in us, as a member country, have we aligned our economic policies with the goals of these two summits.

For one, this columnist might sound like a broken record but can’t help but dwell again on the prospect of cornering foreign direct investments (FDIs). As we fear for the lives of our countrymen working in terror-prone countries, ironically, it is worth mentioning that some of our skilled workers went to our Southeast Asian neighbors. If we should examine closely, they are working with, basically, foreign-owned (not owned by locals in these countries) companies. Among others, these are owned by foreign direct investors from the European Union, Japan, China, Hong Kong, USA, South Korea, Australia, Taiwan and India. The question is, if these investors poured their money in the countries belonging to the Association of Southeast Asian Nations, then, our OFWs should have stayed here, an ASEAN member state. Isn’t it?

Unfortunately, however, among foreign investors in the ASEAN, we are least likely chosen. We are among the least preferred countries in the ASEAN in terms of foreign direct investments. The fact is, weighed against that of other key countries in the ASEAN, ours will surely pale in comparison. Ironically, for the self-proclaimed nationalists or patriotic groups like left leaning Migrante or Bayan Muna, etc., who dwell on such conflicting thoughts of not exporting labor nor encourage foreign direct investments, a socialist country like Vietnam has beaten us in terms of FDI by having $8.9 billion as against our $3.859 billion dollar in 2013. The main reason – Vietnam is encouraging FDI by easing foreign ownership restrictions and offering better incentives. More importantly, a socialist country at that, they never entertained the idea of selling their country to foreigners by doing so.

Thus, as we remain in the tail end in terms of FDIs, economic migrants (my preferred term for OFWs) shall grow in huge numbers day by day. They shall all be compelled to do it for the lack of opportunities or choices. Choices that they have to make, generally, for their families’ future. Or, specifically, they had to do it to provide their children the best education available. Whatever their individual reasons are, we don’t know and we need not have to know. Certainly, however, they simply would like to live better lives. Therefore, if they can find it here, they won’t leave. It’s a no brainer.

So that, this government has to make a choice too, should it continue exporting labor or import investments?

For your comments and suggestions, please email to foabalos@yahoo.com.