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TOP EXHIBITS: 7o cap his “shame em” campaign, President 1oynoy ATuino may want to bus the World (conomic Forum delegates to the Veterans Memorial Medical Center for them to view his prized (xhibit A for alleged official corruption.
7here he could point to former President *loria Arroyo, in a hospital gown and neck brace, detained indefinitely for plunder for writing “2.” on the margin of a routine memo needed to release intelligence funds of the Sweepstakes office.
1ever mind if Ms Arroyo, denied bail and the medical care of a doctor of her choice, has not been convicted and is still presumed innocent even while her co-accused in the supposed conspiracy are out on bail.
From there, the foreign visitors can be herded to the house of former Chief -ustice 5enato Corona, (xhibit , who had been impeached by congressmen even before reading the charges and convicted by senators after receiving pork barrel millions.
BAD TASTE: The President has explained to the WEF delegates his obsession to jail the two figures. The reforms he had in mind, he said, were hard to put in place if unscrupulous officials were still around to steal taxpayers’ money.
“Dismantling the culture of corruption was a promise we made to the people,” he said without detailing, however, what he was doing to punish corrupt officials of his own administration.
We think it is most unkind and in bad taste for the President to try gaining points by blaming and shaming his political foes before foreign visitors without affording them a chance to give their side.
Corona, who has never been charged with stealing public funds, was ousted from the Supreme Court in what was actually a political process. As for Arroyo, she is being treated like a convict, although she is still presumed innocent under the law.
U.S. PRESENCE: In Clark Field last Friday we asked Mabalacat City Mayor Marino “ oking” Morales about the return of American troops to the former base of the 8S th Air Force, then the biggest military installation outside continental America.
7he return of *Is under the (nhanced Defense Cooperation Agreement, the mayor said, will be an economic boost to his city of 2 , and other communities surrounding the Clark Freeport.
7hat was the same welcome note we heard weeks ago from City Mayor 5olen Paulino of 2longapo, the liberty town outside Subic ay.
Morales, guesting at the forum of the Capampangan in Media Inc. CAMI at its D D D House of 1ews at Clark, expressed optimism that the economic benefits of enhanced 8S presence will spread to the rest of Central uzon.
CROSSROAD: Morales, now on his 19th year (!) as mayor, also discussed an ambitious 20-year plan for Mabalacat to develop its own commercial center to rival, he said, Makati’s business district!
The new city is at the crossroad of three arteries — the North Luzon Expressway (NLEx), the SubicClark-Tarlac Expressway (SCTEx) now linked to the Tarlac-Pangasinan-La Union Expressway (TPLEx), and the historic MacArthur Highway.
The region’s main resource, he said, is its highly skilled and very literate population many of whom have had to go abroad to seek outlets for their potential. They can be lured back when we are ready to absorb them, the mayor said.
Incidentally, a great number of Filipinos from Central Luzon fly out to their work areas abroad via the Clark International Airport, bypassing Manila and saving on time and expenses.
NO HONKY-TONKS: Some percent of the land area of Clark is in Mabalacat. It is incorrect to say that Clark is in Angeles City where its alibago gate happens to be Must because Angeles used to be where most *Is spent their goodtime.
Mabalacat was “left behind,” because the pre- conservative municipal council had adopted a policy against opening bars and such honky-tonk establishments catering to *Is in the dominantly Catholic town.
ut now the city is reaping the fruits of its hosting the better side of Clark. y law, two percent of revenues from Clark’s locators go directly to the local community hosting them.
5oughly P2 million of Mabalacat’s annual income of more than P million is contributed by the more than locators in Clark. Another P2 million comes from its share in local governments’ Internal 5evenue Allotments.
ECONOMIC MIRACLE: Foreign investors who have heard of the “economic miracle” in the country are taking a second look at the Philippines as an investment destination.
In the follow-on stock offering, for instance, of 8990 Holdings listed on the stock exchange, two cornerstone investors have just come in: the TPG Capital of Texas (US), one of the five biggest global private equity funds, and Khazanah Nasional Berhad, Malaysia’s sovereign wealth fund.
These investors, according to 8990 president and CEO JJ Atencio, were part of the P9-billion investments that the biggest mass-housing developer was able to raise on the strength of its business with social dimensions.
SOCIAL ASPECT: Atencio said the investments mean more land bank for the listed issue, which now has 2 hectares it can develop in four years. 7he entry of big foreign financiers will interest other investors waking up to the opportunities in the country.
He found it noteworthy that the two first-time investors were attracted by the social dimension that Holdings has introduced to favor the working class.
7he developer focuses on this income bracket, especially renters who might not be able to own the apartments they live on. He said a renter can move in with Must P 2, down and a P , monthly amortization for up to 2 years.
7he housing sites are near the work places of the owners, and the company takes pains in educating the owners on the need to save for the monthly payments. He said this social aspect of Holdings caught the eye of the foreign investors.
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