SONA tips: Comparing the Philippines with Singapore
Fort Canning Hotel, Singapore – One way to tell people about the state of the nation is to compare the Philippines with other ASEAN member-nations. The wise guys here with me tell me it’s crazy to compare our country with Singapore. These pundits say it’s like comparing apples with mansanitas or oranges with calamansi. Nonetheless, I dare to think outside the box and compare. Anyway, I have done my homework. In front of me, is the complete World Economic Forum’s 2016-2017 Global Competitiveness Index.
This is a comparative analysis of 138 countries all over the world based on 12 pillars of competitiveness. Singapore is no. 2 all over the globe, with Switzerland as no. 1. US is third, Netherlands is fourth, Germany is fifth. China is 28th, Malaysia is 25th, and Thailand 32nd. The Philippines is 57th (down ten slots) from its previous ranking in 2015-2016. Singapore’s population is 5.5 million (60 percent of which are foreigners working, investing or enjoying life), its GDP is US$ 292.7 billion, while its GDP per capita is a whopping US$52,887.80. One of every three Singaporean families is a millionaire. The Philippines has a population of 105 million, with a GDP of US$292 billion US dollars (comparative, huh), but with a measly per capita of US$2,838 (peanuts). One of every million Filipino families is a millionaire. The Philippines is a rich country whose wealth is in the hands of a few taipans, moguls, magnates, and tycoons.
Most revealing are the findings that the most problematic factors in doing business in our country are the following: Inefficient government bureaucracy, inadequate infrastructure, corruption, tax rates, tax regulations, policy instability, restrictive labor regulations, inadequately educated workforce, crime and theft, access to financing, poor workforce ethics, government instability, inflation, foreign currency regulations, and poor public health. This does not include the high cost of power, horrendous traffic, terrorism threats, and drugs. Singapore is no. 1 in many of the 12 pillars of competitiveness. Thus, there is no surprise why it is the most successful city-state in the world.
The most telling difference between the two economies is their respective governments. In the Philippines, the government makes it very difficult for business to start, survive and grow. In Singapore, the government does everything to make business prosper and assists businessmen to grow their operations, and thus prosper the country. The people elect leaders who support a balance between the rights of labor and the prerogatives of employers. The Singaporean government does not harass businessmen or threaten them with closure. Here, the government is a bully, milking the business sector and appearing as perennial doleout godfather to the masses.
So let us not be afraid of comparison. Rather, let us be ashamed being compared to a small, wise, and strong city-state. By this time, we should have already been a tiger economy. But we have remained a sick and malnourished kitten while our politicians have become bloated sharks and crocodiles. Shame, shame, shame.