Terrorism: An international problem
Many countries have issued statements of condemnation for the deadly blast in Davao City last Friday, and also expressed their condolences to the families of the victims while advising their citizens to exercise utmost caution and be on the alert. Mayor Sara Duterte of Davao City is offering a total reward of P2-million for information that will lead to the arrest of those responsible for the deadly explosion, with local businessmen putting up a P1-million counterpart for the P1-million coming from the city government.
As the European Union has noted, terrorism has become a global problem that requires cooperation among members of the international community. At the G20 Summit in Huangzhou, China, Indian Prime Minister Narendra Modi called for intensified efforts to “isolate supporters and sponsors of terror.” He also called on world leaders to stem the supply of funds and arms to terror groups, saying that terrorists now own banks or weapons factories so it is obvious they get these from supporters. Joint efforts must be intensified “not just to fight terror, but also to coordinate actions to isolate those who are supporters and sponsors of terror,” Modi reiterated.
President Duterte should welcome the offer of assistance by foreign governments such as the United States in the investigation to find out who was behind the deadly attack. If one could recall, the Philippine military was able to capture Ghalib Andang (alias Commander Robot) with the help of GPS technology from the Americans which accurately pinpointed the location of the notorious Abu Sayyaf commander in 2003.
The US has also pledged $32 million during the visit of State Secretary John Kerry to support the Duterte administration’s intensified efforts to establish peace and order in the country. In fact, the president said he would allocate half of the $32 million to the Armed Forces of the Philippines to give soldiers the equipment they need to gain the upper hand in the fight against terrorists – in particular the Abu Sayyaf Group that has been infiltrated by the Islamic State or ISIS.
When US Navy Seals stormed the Abbotabad, Pakistan stronghold of al-Qaeda founder Osama bin Laden in May 2011, many thought this would weaken extremist terrorism. But while the death of bin Laden was a major blow to al-Qaeda, ISIS has emerged as even more deadly and barbaric, beheading hostages and worse, recruiting young people from across the globe to become modern-day jihadists through the use of videos and social media.
While the people of Davao City are still in shock, they are refusing to be cowed and are bravely going about their “normal” activities prior to the deadly blast – because, as one Dabaweño aptly put it, “We will not let terrorists win by allowing fear to paralyze us.”
Western aircraft makers looking east
Aircraft manufacturers such as Lockheed Martin, Boeing and Saab are increasingly turning their attention to Asia as an emerging market. Lockheed Martin is proving to be more aggressive, hoping to get a major chunk of India’s $150 billion modernization plan for its armed forces, offering to manufacture the F-16 in the Asian nation and turning the latter as the center of the supply base, although rivals have also indicated willingness to shift production to India.
According to analysts, the increasing aggression of China over disputed maritime territories both in the South China Sea and East China Sea is spiking up sales for fighter aircraft. Add to that the posturing of North Korea which recently fired three ballistic missiles. According to reports, India (which also has border disputes with Pakistan and China) relies on imports (about 60 percent) for its defense requirements, most of it from Russia. However, it seems to be more open now to American-made hardware, which is an indication of the warming ties between the government of Modi and the US as seen in the exchange of visits between officials of the two countries.
Another potential big customer is Japan which has consistently increased its budget for defense spending in five consecutive years. According to reports, Japan proved to be the biggest customer for US military contractors in 2013 and 2014 with an estimated $36.5 billion spent on aircraft, missiles and other military equipment. Lockheed also recently won a contract from the Japanese government for 42 F-35 fighters. And now that the US has ended its embargo on arms sales to Vietnam, it is not unlikely that the latter will become the newest market for US manufacturers.
Euromoney to hold Philippines Investment Forum
Prominent names in business will take part in the Philippines Investment Forum to be held in Shangri-La at the Fort today, among them Metro Pacific Investment Corp. president and CEO Jose Ma. Lim, Hans Sicat of the Philippine Stock Exchange, Metro Pacific Tollways president and CEO Rodrigo Franco.
Government officials such as PAGCOR chairman Didi Domingo and Arsenio Balisacan of the newly- created Philippine Competition Commission are also among the speakers, among others. We’re told Asia Euromoney CEO Tony Shale will also conduct a keynote interview on the 10-point Economic Agenda of the Duterte administration from the standpoint of First Pacific and MPIC with MVP Media Bureau head Mike Toledo as interviewee. This should prove interesting.