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Our World
                                                                                                  Wednesday, June 15, 2011




                                  THE PHILIPPINES
  Open for business
    This supplement to USA TODAY was produced by United World Ltd.: Suite 179, 34 Buckingham Palace Road - London SW1W 0RH - Tel: 44 20 7409 3106 - ourworld@unitedworld-usa.com - www.unitedworld-usa.com

              he May 2010 presi-       would like to project openness,     ing renewed attention in an ef-



T             dential election in
              the Philippines her-
              alded a new govern-
              ment, representing
a new direction and a renewed
sense of hope for this resilient na-
tion of warm smiles and opti-
                                       approachability and be some-
                                       one people can relate to. The
                                       people of the nation are like
                                       the customers and the gov-
                                       ernment is here to serve,” he
                                       explains.
                                          Backed by positive GDP
                                                                           fort to increase food self-suffi-
                                                                           ciency and relieve poverty in
                                                                           the archipelago’s rural areas.
                                                                           The state-owned Land
                                                                           Bank, for example, is im-
                                                                           plementing the Depart-
                                                                           ment of Social Welfare
mism.                                  growth (2010 saw a 7.3% rise –      and Development’s
   Benigno Aquino III’s re-            the fastest pace since the mid-     conditional cash
sounding victory was the first         1970s – and forecasts for the       transfer (CCT) pro-
strong sign of support for the         current year hover between 5-       gram, from which
candidate who hails from a fam-        6%), President Aquino is por-       some 1 million
ily of well-loved politicians that     traying a bolstered image of the    people currently
have followed the line of ‘peo-        Philippines to the world, and       benefit. In 2010,
ple power’ and opposed mar-            the world is watching and lis-      the government
tial law. His record-breaking          tening. New investment laws         budgeted over
margin of over 5 million votes         offer better guarantees, yet are    $231 million for
also suggests that the country is      balanced by the government’s        the CCT program,
on track for a period of political     focus on sustainable develop-       a figure that is ex-
stability, a fact not gone unno-       ment in all areas, especially       pected to more
ticed by the international busi-       where natural resources are         than double by the
ness community; the elections          concerned. This improved            end of this year.
were soon followed by a spike in       business climate is crucial in         The Philippines is
investor confidence.                   the government’s plans to har-      relying on public-pri-
   President Aquino is holding         ness the power of the private       vate-partnerships in or-
true to his campaign platform of       sector through partnerships to      der to improve its
“no corruption, no poverty”     .      address needs that the state        infrastructure with a view
   “As the son of two people who       budget cannot cover on its own.     to become a regional logis-
dedicated their lives for democ-          “The country’s message over-     tics hub. Better roads, bridges,                                                                                                            A long-time
racy, I intend to use what I’ve                                            electricity networks, etc. will                                                                                                        ally of the U.S.,
learned from my parents in lead-                                           also enable the tourism indus-                                                                                                        the Philippines is
ing our country towards                                                      try to grow. In a tidy spider                                                                                                  embarking on an ag-
progress,” says President                                                        web of interconnections,                                                                                                gressive growth strategy
Aquino. “I am deter-                                                               tourism is also expect-                                                                                         and warmly welcomes partner-
mined to govern with                                                                 ed to grow thanks to                                                                                            ships with the private sector
transparency and ac-                                                                   the country’s bur-
countability, and to                                                                     geoning casinos and
show our people
that through sim-
ple and practical
means, we can ef-
                                                                                          integrated resorts,
                                                                                           which in turn are
                                                                                           paying into the
                                                                                           government’s so-
                                                                                                                 ‘Pacquing’ a punch
fect change.”                                                                              cial development       Boxing champ Manny Pacquiao turned to politics to better serve his fellow countrymen
   His administra-                                                                         programs.
tion is also tackling                                                                       “We’ve stream-        The nation looks to Emmanuel         earning an income. “We edu-            ment to improve education, he
the Millennium De-                                                                      lined business regis-     “Manny” Pacquiao as a national       cate them on how to get the            has also stressed how attract-
velopment Goals                                                                       tration, improved           hero, a sports god, and an in-       most from their talents, and           ing private investors can play a
(MDGs) head-on and                                                                  power supply, institut-       spiration because he went from       help them learn the required           major part in improving the
the President believes                                                            ed reforms and issued           nothing to becoming a con-           skill sets for a particular job,” he   country.
greater transparency goes                                                      policies to fight corruption,      gressman in the international        says. “I’m also starting a free ed-       “I want people to understand
hand-in-hand with poverty al-                                               and established closer coordi-        arena and an ambassador for          ucation program for children           I am a businessman, who has
leviation.                                                                 nation between the national            the Philippines.                     whose families cannot afford           imported a billion dollar box-
   “Our battle cry during the                                              and local governments                          He has been named “one       to send them to school, because        ing industry to the Philippines,”
campaign was: ‘Kung walang             seas is that the Philippines is     to improve the in-                               of the most influential    if not, who will help them?”           he says. “As a congressman, one
corrupt, walang mahirap.’ It sim-      once again open for business as     vestment climate,                                    people today in the       He is working alongside Pres-       of my many goals is to create op-
ply means that we’ll work to sig-      a responsible and dynamic           even in the                                            world,” and num-     ident Aquino to improve and            portunities beyond boxing for
nificantly reduce poverty and          member of the community of          countryside.                                            ber one pound-      develop Sarangani, and so far,         my fellow Filipinos by helping
corruption during my term,” he         nations,” says President Aquino.    We now have                                              for- p ound        the President has been very            to bring billions more in other
explains.                              Mr. Coloma agrees: “It is a land    a govern-                                                boxing cham-       helpful and is likely to support       industries and commerce.”
   The new administration has          of opportunity, wealth and          ment that is                                              pion of the       all of Mr. Pacquiao’s projects.           Mr. Pacquiao believes the
already taken immediate steps          competent and professional          sincere and is                                           w o r l d .        Also the vice-chairman of the          Philippines can achieve eco-
to make the government more            people who can grow busi-           determined                                               Nonetheless,       House Committee on                           nomic development if the
transparent and the “Zero-Based        nesses.”                            to pursue its                                           one of Mr. Pac-     Youth and Sports,                                 government would fo-
Budgeting” approach has been              The President’s economic         commitment to                                          quiao’s main         Mr. Pacquiao                                        cus more on im-
implemented to oblige all gov-         plan for his six-year term re-      move forward                                         goals at the end of    plans to align                                        proving security
ernment agencies to justify their      volves around eight key areas,      in broad daylight,                               the day is helping the     the sports pro-                                        and stability to
projected expenses in order to         open as prime investment op-        where everything it does                    poor and his fellow Filipinos   gram to pro-                                           keep people safe
limit their spending to the ab-        portunities: agro-industry, busi-   and how it does things will be         as congressman for the               mote not only                                          and encourage
solute minimum.                        ness process outsourcing            clear, honest and transparent,”        Sarangani region in Mindanao.        boxing, but all                                       people to invest.
   Herminio Coloma Jr., Secre-         (BPO) and information tech-         says President Aquino.                    Mr. Pacquiao is very pas-         sports to help                                       He knows that the
tary of the Presidential Com-          nology (IT) services, electron-                                            sionate about his work because       cultivate the Fil-                                  government is able
munications Operations Office          ics and semiconductors, energy           A UNITED WORLD
                                                                                                                  of his own personal experience       ipino youth.                                     to help people if they re-
and member of the late President       and electricity, logistics, min-      SUPPLEMENT PRODUCED
                                                                                                                  with poverty and aims to focus          To give the youth the                    ally want to, but the prob-
Corazon Aquino administra-             ing, shipbuilding, and tourism.        IN THE PHILIPPINES BY:
                                                                                                                  on development on a national         opportunities for education and        lem of corruption stands. “The
tion, reveals that President              The agricultural sector, for-       Charlotte Rose, Andrew
                                                                                                                  level despite just being con-        a bright future, Mr. Pacquiao          future of our country depends
Aquino has put himself at the na-      merly the country’s economic          Machaj, William Skidmore,
                                                                                                                  gressman for the Sarangani re-       suggests that the government           on us being united to help to im-
tion’s disposal, truly believing in    backbone, has taken a smaller              Paula Bellsola,
                                                                                                                  gion.                                sets aside funding for educa-          prove our country,” he says.
the presidency as an office from       role in the shadow of the grow-          Ugo Bagration and
                                                                                                                     “I entered politics because I     tion and educational infra-               He recognizes that the im-
which he can uphold the man-           ing high-tech sectors as well as            Vincent Rifici
                                                                                                                  want to help people,” he says. “I    structure like classrooms, so          age people have of the Philip-
date of the Filipinos.                 BPO and other services. Nev-                                               know what they are feeling and       that the children have more            pines is not particularly good,
   “Despite the tremendous             ertheless, agriculture accounts                                            what they need our assistance        space to learn. In addition to         but Mr. Pacquiao is optimistic
power his office holds, he             for 14% of GDP, and is receiv-               This report is                with because I have been in that     more funding, Mr. Pacquiao             and wants to challenge the neg-
                                                                                     available at                 situation during my lifetime.”       has suggested leveling up the          ative perception of the coun-
                                                                               www.unitedworld-usa.com               Mr. Pacquiao is focusing on       quality of education in the coun-      try by engaging international
                                                                                                                  creating a provincial hospital       try by continuing teachers’ ed-        media to promote the true rich-
SPECIAL THANKS                                                                                                    and provincial university for        ucation and assessment, so that        ness of the Philippines. “The
United World woud like to extend a special thank you                                                              the Sarangani population of          educators will need to keep re-        Philippines is a beautiful coun-
to Secretary Ricky Carandang and Ian Soqueno from                                                                 over half a million, with his vi-    freshing their qualifications.         try and hopefully we can en-
the Presidential Communications Team, and to                                                                      sion of teaching the people to          As the congressman and              courage more people to come
Chairman Sergio Ortiz Luis, Gabby Cruz and Renato                                                                 work and how to benefit from         boxer works with the govern-           and discover that.”
Osmena of the Philippine Chamber of Commerce




                       Our World Insert is produced by United World. USA TODAY did not participate in its preparation and is not responsible for its content
Wednesday, June 15, 2011                                                                                                                                                                                           Distributed by USA TODAY
 2
                                                                                    THE PHILIPPINES
                             ‘THE FIRST                                                ‘EVERYONE IS                                                  ‘WE MUST                                                         ‘WE HAVE TO
                             PRIORITY IS                                               KEEN ON                                                       BELIEVE IN                                                       ADDRESS THE
                             SOCIAL                                                    ENSURING THAT                                                 OURSELVES. WE                                                    ISSUES THAT
                             PROTECTION, THE                                           THESE                                                         ARE PURSUING                                                     HAVE HELD US
                             SECOND IS A                                               SHORTAGES OF                                                  THINGS IN                                                        BACK SO THAT
                             DRAMATIC                                                  TEACHERS,                                                     SCIENCE THAT                                                     WE CAN
                             INCREASE IN                                               CLASSROOMS,                                                   PEOPLE INITIALLY                                                 ACCELERATE THE
                             EDUCATION,                                                AND SCHOOL                                                    THINK DIFFICULT                                                  COUNTRY’S
                             AND THE THIRD IS                                          FURNITURE ARE                                                 TO ACHIEVE, BUT                                                  GROWTH AND
                             INVESTMENTS IN                                            MET, AND THERE                                                WE’RE TRYING                                                     MAKE IT
                             PUBLIC HEALTH,                                            IS A GENERAL                                                  TO INSTILL THE                                                   SUSTAINABLE,
                             WITH A FOCUS                                              CONSENSUS FOR                                                 CONFIDENCE                                                       ULTIMATELY
FLORENCIO ABAD               ON MATERNAL                   ARMIN LUISTRO               EDUCATIONAL                      MARIO MONTEJO                THAT WE CAN                       CESAR PURISIMA                 REDUCING
Secretary of Budget and      HEALTHCARE’                   Secretary of Education      REFORM’                          Secretary of Science and     DO IT’                            Secretary of Finance           POVERTY’
Management                                                                                                              Technology




The fight against poverty
Government departments                 – has risen by almost 19%, the           initiatives to help the poor are        rich potential for farming – arable      like to treat this as an opportu-            ple’s trust in government and
unite across all sectors,              biggest increase allocated in over       on their own not enough, and            farmland makes up more than              nity rather than a problem. We               encourage international in-
rising to the challenge of             a decade. Huge progress has              that the economy needs to at-           40% of the total land area. Pro-         can use agriculture as one of the            vestors to invest in the country.
meeting the Millennium                 been made in providing suffi-            tract local and foreign invest-         grams are being introduced to            main areas where we can excel.”                 Cesar Purisima, Secretary of
Development Goals                      cient textbooks, and resources           ments to spur growth via                help the nation feed itself, which          As important as the devel-                Finance, says, “We have to ad-
(MDGs) on time                         are being focused on addressing          public-private partnerships.            the administration aims to               opment of sectors with eco-                  dress the issues that have held
                                       the shortages of teachers, class-        “We realize that investment in          achieve by 2013, but beyond self-        nomic potential is the need to               us back so that we can acceler-
“The first priority is social pro-     rooms, and school furniture.             poverty reduction programs will         sufficiency the aim is to trans-         transform government itself.                 ate the country’s growth and
tection, the second is a dramatic                                                                                                                                                                             make it sustainable, ultimately
increase in education, and the                                                                                                                                                                                reducing poverty.” He adds, “We
third is investments in public                                                                                                                                                                                really need to stay focused to
health, with a focus on mater-                                                                                                                                                                                fight corruption; there are no
nal healthcare,” says Florencio                                                                                                                                                                               quick fixes or shortcuts.”
Abad, Secretary of Budget and                                                                                                                                                                                    Fiscally, the government is
Management. “These are the                                                                                                                                                                                    pursuing a more prudent man-
areas where we have been lag-                                                                                                                                                                                 agement of resources and ex-
ging behind. In 2015, which is                                                                                                                                                                                pects to lower and maintain its
the final date of the MDG chal-                                                                                                                                                                               deficit at 2% of GDP by 2013.
lenge, we should be able to meet                                                                                                                                                                                 At the Philippine Stock Ex-
our targets.”                                                                                                                                                                                                 change, president and chief ex-
   At the top of the list is the re-                                                                                                                                                                          ecutive officer Hans Sicat is
duction of poverty; according to                                                                                                                                                                              addressing what he calls the two
a census in 2006, 4.6 million Fil-                                                                                                                                                                            major challenges of limited liq-
ipino families live below the                                                                                                                                                                                 uidity and good corporate gov-
poverty threshold. Under a con-                                                                                                                                                                               ernance. “We are trying to
ditional cash transfer program,                                                                                                                                                                               promote transparency and pro-
subsidies are being provided to                                                                                                                                                                               fessionalism,” he says. “Hope-
families on certain conditions,                                                                                                                                                                               fully, that will improve the view
such as sending the children to                                                                                                                                                                               of investors not just locally, but
school and going on regular                                                                                                                                                                                   globally, as well. I think this will
health checkups. By the end of                                                                                                                                                                                do wonders for the economy
this year, the government hopes                                                                                                                                                                               because we are a major part of
to provide subsidies to 2.3 mil-                                                                                                                                                                              the fundraising for companies.”
lion families, helping the re-                                                                                                                                                                                   A broader perspective comes
mainder by 2015.                                                                                                                                                                                              from the legendary tycoon
   “This administration is very                                                                                                                                                                               Washington SyCip, founder of
serious about poverty reduc-           President Aquino’s government has increased its spending on education by nearly 19%                                                                                    SGV Group, which represents 51
tion,” says Corazon Juliano-                                                                                                                                                                                  of the top 100 corporations in the
Soliman, Secretary of Social           “Everyone is keen on ensuring            not ultimately bring you the jobs       form agriculture into a modern,          President Aquino, who cam-                   Philippines for both insurance
Welfare and Development. “It           that these shortages are met, and        and make the kids healthier and         dynamic and competitive sec-             paigned on the basis that with-              and tax auditing. “We need eco-
has demonstrated this com-             there is a general consensus for         more educated; it is the demand         tor that can serve as a spring-          out corruption there would be                nomic and political freedom and
mitment with 34% of the bud-           educational reform,” says Sec-           coming from an expanding                board for the economy. “We               no poverty, has committed his                we have to ensure that people are
get going to social services,          retary of Education Armin                economy, for educated and               want to export as much as we can         administration to strict obser-              educated and no longer hungry,”
health, education and three core       Luistro.                                 healthier people,” he says.             produce to the neighboring               vance of the basic tenets of good            he says. “We need political free-
poverty reduction programs.”             At the Department of Budget              Proceso Alcala, Secretary of          countries,” says Mr. Alcala. “A lot      governance – in particular                   dom not only for the Philippines,
   Spending on education – seen        and Management, Mr. Abad                 Agriculture, says full advantage        of people are saying that there is       transparency and accountabil-                but for the whole of Asia and
as the key to reducing poverty         emphasizes that government               must be taken of the country’s          a food crisis issue, but we would        ity. His aim is to rebuild the peo-          developing nations.”




                                                                                                                        A legacy of
                                                                                                                        freedom fighters
                                                                                                                         From a family legacy,
                                                                                                                         President Aquino leads a
                                                                                                                         new era for the Liberal
                                                                                                                         Party and the Philippines

                                                                                                                        It is always a challenge to pro-
                                                                                                                        mote the legacy of a man and a
                                                                                                                        family to become relevant, but
                                                                                                                        in the case of Ninoy Aquino
                                                                                                                        and his family, the Ninoy & Cory
                                                                                                                        Aquino Foundation (Aquino
                                                                                                                        Foundation) has taken up on
                                                                                                                        this challenge to reach the lives
                                                                                                                        of next generation Filipinos. To
                                                                                                                        carry on the legacy of Ninoy
                                                                                                                        Aquino, Rafael C. Lopa, presi-
                                                                                                                        dent and executive director of
                                                                                                                        the Aquino Foundation and                Corazon “Cory” Aquino (1933-2009) was the 11th president of the Philippines and mar-
                                                                                                                        nephew of Ninoy Aquino, has              ried to Benigno S. “Ninoy” Aquino (1932-1983), former senator and opposition leader
                                                                                                                        put together a campaign with
                                                                                                                        Mekong Worldwide Crew to                                                              been very successful abroad
                                                                                                                        spread the values of the foun-           THE AQUINO                                   could be a way to bring them
                                                                                                                        dation.                                  FOUNDATION HAS                               back to help the country further,”
                                                                                                                            “It revolved around the idea
                                                                                                                                                                 PUT TOGETHER THE                             Mr. Lopa says.
                                                                                                                        that if there is anything you want
                                                                                                                                                                 CAMPAIGN WITH THE                               The current President
                                                                                                                        to communicate to young peo-
                                                                                                                                                                 TAGLINE ‘I AM A                              “Noynoy” Aquino is making it a
                                                                                                                                                                 HERO, I DO WHAT I
                                                                                                                        ple, it is the whole idea that there                                                  point to fight poverty and im-
                                                                                                                                                                 BELIEVE IS RIGHT, I
                                                                                                                        is a hero and innate goodness                                                         prove the education system. Yet,
                                                                                                                                                                 DO WHAT I BELIEVE
                                                                                                                        in each one of us,” he says. “That       IS GOOD, I FIGHT                             despite the inclusion of various
                                                                                                                        is basically how she (Cory               FOR JUSTICE, I FIGHT                         public-private partnerships put
                                                                                                                        Aquino) felt we needed to com-           FOR FREEDOM. I AM                            in place to help the government
                                                                                                                        municate the legacy of Ninoy             NINOY’                                       deal with the country’s problems
                                                                                                                        because he really embodied the                                                        like malnutrition, hunger and
                                                                                                                        idea of self-sacrifice for his coun-     to be a Ninoy in that sense, and             literacy, finding effective solu-
                                                                                                                        try and people.”                         we managed to generate a lot of              tions is still a challenge. “Every-
                                                                                                                            Thus far, the Aquino Foun-           interest in coming together.”                thing is interrelated and it’s
                                                                                                                        dation has partnered with retail            The interest has grown sig-               extremely difficult to know
                                                                                                                        brands to introduce Ninoy                nificantly, having brought to-               where to begin,” Mr. Lopa says.
                                                                                                                        Aquino to the public through             gether an organization called                Still, he believes that the Aquino
                                                                                                                        merchandise that benefits nu-            ‘The Ninoy Runners’ and even                 Foundation has helped Filipino
                                                                                                                        merous charities. The founda-            gathering celebrity support from             society progress over the years,
                                                                                                                        tion has put together the                apl.de.ap of the Black Eyed Peas             despite the small monetary as-
                                                                                                                        campaign with the tagline ‘I am          to help advocate for the public              sistance it has been able to gath-
                                                                                                                        a hero, I do what I believe is           education problem in the coun-               er. “I would equate the success
                                                                                                                        right, I do what I believe is good,      try. The star has agreed to be the           and impact of a foundation such
                                                                                                                        I fight for justice, I fight for free-   foundation’s brand ambassador                as this by how much it has done
                                                                                                                        dom. I am Ninoy’      .                  and plans to travel in and out of            for people who have created
                                                                                                                            The campaign logo, a pair of         the Philippines to raise money               much bigger things,” he says.
                                                                                                                        eyeglasses Ninoy Aquino was              for the programs and promote                    As for the foundation’s future,
                                                                                                                        known for, has since become an           awareness about the problem.                 Mr. Lopa is very optimistic. “If
                                                                                                                        iconic image. “The basic mes-            Mr. Lopa believes that taking the            we do our job well, we will real-
                                                                                                                        sage of the campaign was ‘if you         Aquino Foundation interna-                   ly promote the legacy of Ninoy
                                                                                                                        were to see the country through          tionally through well-known Fil-             and Cory Aquino and inspire
                                                                                                                        the eyes of Ninoy, what would            ipino figures like apl.de.ap is the          others to be like these two peo-
                                                                                                                        you do now?’” Mr. Lopa says.             next step in bringing Filipino is-           ple,” he comments. “Then I think
                                                                                                                        “The whole idea of ‘I am Ninoy’          sues to global awareness.                    this country will be a better place
                                                                                                                        became a very effective model               “We feel the whole idea of                to live in. This country needs
                                                                                                                        for us to talk about legacy, as it       people wanting to give back to               many leaders that should be able
                                                                                                                        became so cool and fashionable           their country because they have              to look beyond themselves.”

                          Our World Insert is produced by United World. USA TODAY did not participate in its preparation and is not responsible for its content
Distributed by USA TODAY                                                                                                                                                                              Wednesday, June 15, 2011
                                                                               THE PHILIPPINES                                                                                                                                      3




Sustained economic growth
The Philippines is “open for business” and backed by                                                                                                                                                been building on its current
broad-based bank lending growth and greater                                                                                                                                                         position of strength. The cen-
transparency, accountability and competitiveness                                                                                                                                                    tral bank recently noted that
                                                                                                                                                                                                    the continued broad-based
A surge in the inflow of for-         This has been blamed largely                                                                                                                                  growth in bank lending speaks
eign direct investment (FDI)          on the political uncertainty                                                                                                                                  well of the solid growth
into the Philippines this year is     surrounding the national elec-                                                                                                                                prospects for the economy;
being forecast by Bangko Sen-         tions in May 2010, although                                                                                                                                   loans for production activities
tral ng Pilipinas. The central        the government is fully aware                                                                                                                                 comprise more than four-fifths
bank expects $2.2 billion worth       there are other underlying fac-                                                                                                                               of commercial banks’ total loan
of FDI to be registered by the        tors that it has to deal with to                                                                                                                              portfolio.
end of 2011 – a staggering            make the business environ-                                                                                                                                       Cesar Virtusio, executive
83.3% rise on the end-of-year         ment more attractive.                                                                                                                                         director of the Bankers Asso-
total for 2010.                          Cesar Purisima, Secretary                                                                                                                                  ciation of the Philippines, says
   The reason for optimism is         of Finance, says the Philippines                                                                                                                              that in the last five years (ex-
the implementation this year of       must develop its infrastruc-                                                                                                                                  cept in 2008), bank lending
the government’s private-pub-         ture, make its policies more                                                                                                                                  has grown more quickly, and
lic partnership (PPP) program;        competitive and reduce cor-                                                                                                                                   at a rate that is even better
the five initial PPP projects put     ruption. On the fiscal side, the                                                                                                                              than the GDP growth. On top
up for bidding this year are val-     focus is on being more pru-                                                                                                                                   of that, the percentage of non-
ued at $1.1 billion. Investments      dent in the management of re-                                                                                                                                 performing loans continues
are also expected to come from        sources. “We hope to reduce                                                                                                                                   to drop – to less than 3%. He
major Japanese electronics and        our deficit to 2% of our GDP                                                                                                                                  believes the banks are well
semiconductor companies               by 2013 and maintain that dur-                                                                                                                                capitalized, with ample pro-
looking to relocate to the Philip-    ing the rest of the President’s                                                                                                                               visioning to absorb external
pines.                                term,” he says.                                                                                                                                               shocks. “One of the reasons
   A further rise in FDI is pre-         “President Aquino is trying                                                                                                                                why the banking sector is so
dicted for 2012, when the cen-        to accomplish all of this in his                                                                                                                              successful is its competent
tral bank expects a total of $2.7     six-year term. He does not                                                                                                                                    management and supportive
billion to be registered, basing      think he will be able to ac-                                                                                                                                  regulators,” he explains.
its prediction, it says, on its re-   complish it all, and nobody ex-                                                                                                                                  Mr. Virtusio says the Philip-
vised assumptions and outlook         pects him to, but he wants to                                                                                                                                 pines needs to address the ob-
for emerging balance of pay-          put the Philippines in the right                                                                                                                              stacles to its growth. “We hope
ments components.                     direction and change things so                                                                                                                                that we can realize the poten-
    FDI inflows into the Philip-      that the next administration          The Aquino administration has set in motion a series of fiscal and management reforms in order to raise transparency    tial that has been linked to the
pines have been declining for         will have no other choice but                                                                                                                                 country for a long time now.
a decade, but the trend was ex-       to continue with the reforms          is crucial. “The perception that          determined to make the Philip-            Philippines becomes a truly at-     Now that we have an honest
acerbated last year, when oth-        that he started.”                     this is a clean government that           pines competitive in the in-              tractive business destination.”     national leadership backed by
er Southeast Asian economies,            Florencio Abad, Secretary          will promote transparency                 ternational marketplace. “This              A big plus is that the Philip-    able and competent cabinet
such as Malaysia, Indonesia           of Budget and Management,             and accountability is very im-            is why we say the Philippines             pine financial system emerged       and heads of government
and Singapore, enjoyed as             says the premium placed on            portant.”                                 is open for business. We are              from the 2008 global financial      agencies, we should have a fair
much as a five-fold increase.         integrity by President Aquino            He says the government is              gearing ourselves up, so the              crisis in good shape and has        chance to accomplish this.”




Phenomenal growth for SM Investments
From commercial and retail to residential and leisure development, the corporation does not shy away from large investments. SM has been highly successful, to boot

Owned by Henry Sy, the rich-             “Retail has a lot of potential,”                                                                                                                              Last year, SM’s net profits
est man in the Philippines, SM        says Ms. Guidote. “We are                                                                                                                                     were better than expected, ris-
Investments Corporation is            mainly focused on Metro                                                                                                                                       ing by 15% to Php18.4 billion
one of the country’s largest          Manila now, but there is still a                                                                                                                              (around $420 million), with
companies, dominant in re-            lot of potential in the provinces,                                                                                                                            consolidated revenues in-
tailing, banking and shopping         and that is where we are grow-                                                                                                                                creasing by 12% to Php179.3
mall development, and a fast-         ing at the moment.”                                                                                                                                           billion from Php160.1 billion in
rising player in residential and         SM is also dominant in shop-                                                                                                                               2009. The largest contribution
tourism-oriented real estate.         ping malls, boasting no fewer                                                                                                                                 came from retail (34%), with
   SM has been careful about          than 41 across the country. By                                                                                                                                banking second (30%), fol-
managing its resources, and           the end of 2011, the number of                                                                                                                                lowed by shopping malls and
has been growing year-on-year         malls in the Philippines will                                                                                                                                 real estate (23% and 13% re-
both financially and in terms         have risen to 43, and an addi-                                                                                                                                spectively).
of assets.                            tional mall will have been                                                                                                                                       SM has increased its capital
   “The Philippines is still an       added to the three the group                                                                                                                                  expenditure program to Php47
emerging country,” says Cora-         already has in China, in the                                                                                                                                  billion this year, from Php40.6
zon Guidote, vice president for       cities of Xiamen, Jinjiang and                                                                                                                                billion last year, and with all its
Investor Relations. “There is a       Chengdu.                                                                                                                                                      core businesses continuing to
lot of potential, so SM is pour-         Ms. Guidote recalls that the                                                                                                                               grow, expects to sustain dou-
ing a lot of resources into grow-     very first mall the company                                                                                                                                   ble digit growth in 2011. Cer-
ing all of its core businesses.”      opened was a mere 1.3 million                                                                                                                                 tainly, it began the year on a
   The most profitable part of        square feet, but was already the                                                                                                                              positive note, posting a 13% in-
the group is the retail business,     largest mall in the country. “It                                                                                                                              crease in net income in the first
which has been undergoing             was at the height of the Mar-                                                                                                                                 quarter.
significant expansion. With 28        cos crisis, when the father of the                                                                                                                                Corazon Guidote attribut-
new stores opened in 2010,            current president was assassi-        SM is a very consumer-oriented company focused on serving the Filipino community in the best possible way               es the group’s success to a high-
and several more this year, SM        nated; we could not have gone                                                                                                                                 ly focused approach that she
now has 144 retail outlets na-        into the market at a worse time,”        Starting to challenge retail           with 726 branches nationwide.             Its current portfolio includes 14   says has made it part of the psy-
tionwide. These include 41 SM         she says. “But the growth has         as the group’s main driver is its         Chinabank, in which the group             residential projects, 13 of which   che of Filipinos.
department stores, 31 SM su-          been phenomenal. It is now            banking business; SM’s bank               has a 20% interest, is the eighth         are in Metro Manila and one            “The Filipinos have been
permarkets, 43 SaveMore               our largest and one of our most       network is the largest in the             largest with 269 branches na-             in Tagaytay City in the province    with us over the years in terms
branches, and 25 SM hyper-            profitable malls, and we are          Philippines. In the final quar-           tionwide.                                 of Cavite. This year will see the   of growing the brand and the
markets. The group also has           continuing to expand it. Daily        ter of last year, BDO Unibank,               SM’s rapidly expanding                 launch of at least five new res-    business,” she says. “SM reflects
total ownership of Pilipinas          footfall there is at least 700,000    in which SM has a 41% inter-              property business has interests           idential projects, all located in   the progressive spirit of the Fil-
Makro, which has 4 Makro              to over 1 million, and the oc-        est, became the country’s                 in residential, commercial,               prime locations within Metro        ipinos; we would not grow if the
outlets.                              cupancy rate is about 97%.”           largest bank in terms of assets,          leisure, and hotel development.           Manila.                             market did not support us.”




                       Our World Insert is produced by United World. USA TODAY did not participate in its preparation and is not responsible for its content
Monday, June 20, 2011                                                                                                                                                             Distributed by USA TODAY
 4
                                                                      THE PHILIPPINES
Land Bank, dedicated to
financing rural development
CEO and president of Land Bank of the Philippines, Gilda Elepano Pico shares the ins and outs of this government bank entrusted with boosting agricultural and rural sectors

Ranked among the top five         tant when lending to farmers     of the national government’s         Land Bank provides fi-            sor with their produce based        ment agencies and corpora-
commercial banks in the           and fishermen. We have es-       thrust of promoting food se-      nancing to all the players           on the latter’s product re-         tions because we are a gov-
country, Land Bank of the         tablished a group in Land        curity. The objective is to in-   along the value chain system,        quirement.                          ernment bank. For example,
Philippines is a government       Bank called the Development      crease farmers’ income by         consisting of a full range of           The processor, on the oth-       if the NFA (National Food Au-
institution that plays a unique   Assistance Center which fo-      providing financial and tech-     activities that are undertaken       er hand, commits to buy the         thority) requires financing for
role promoting countryside        cuses on the institutional and   nical support along the value-    in turning a particular prod-        produce of the cooperatives         domestic rice procurement,
development while remain-         capability building of these     added chain of a commodity        uct into a form that is sold         at a competitive price; and         then we lend to them.
ing financially viable. The       cooperatives.                    or industry.                      and consumed.                        may also commit to provide              Local government units are
bank has grown into the             The success of the bank de-      We launched this last year         At the outset, a coopera-         the necessary inputs and tech-      crucial in the food supply
largest formal credit institu-    pends on the strength of the     where we allocated P50 billion    tive and a processor will es-        nical assistance if only to en-     chain and in the development
tion in the rural areas and to-   conduits. Before we lend to      ($1.15 billion) for the pro-      tablish production, technical        sure product quality and            of the rural economies. We
day offers a full range of        them, we make sure that they     gram, particularly to support     and marketing contracts,             standards. The processor            need infrastructure so that
banking services.                 are prepared technically in      the financial requirements for    where the cooperative                then makes use of the pro-          the produce of the farmers
   Gilda Elepano Pico, CEO        terms of bookkeeping and in      crop, livestock and fishery       through its farmer members           duce to convert it into a prod-     can be brought to the trading
and president of Land Bank of     other areas of managing their    production, working capital       commits to supply the proces-        uct that will again be an input     center at the least cost possi-
the Philippines since No-         business.                        and acquisition of processing                                          to another activity.                ble. Sometimes it takes them
vember 2006 and vice-chair-         Another basic thing we re-     and other fixed assets.              ‘OUR FOOD SUPPLY                     It is really a complete chain    a long time to transport from
man since August 2005, has        quire from them is equity. If                                           CHAIN PROGRAM                   from farm production to pro-        the farm to the trading areas,
worked in various depart-         they do not have a stake in                                            AIMS TO INCREASE                 cessing to marketing. Farm-         so transport costs are high.
ments in Land Bank since          the business, they can easily                                       FARMERS’ INCOME BY                  ers will now be assured that        We finance local governments
1981. Here Ms. Pico discuss-      abandon the project. So for                                        PROVIDING FINANCIAL                  their products will be bought.      so they can build farm to mar-
es Land Bank’s role in the        every one peso that they put                                             AND TECHNICAL                  The problem in the past was         ket roads and rural infra-
country’s sustained growth.       in the cooperative, we give                                          SUPPORT ALONG THE                  that there was no market for        structure.
                                  them six pesos in loans. They                                        VALUE-ADDED CHAIN                  their produce, so we are now            Land Bank cannot do this
Agriculture is the backbone of    use these loans for relending                                      OF A COMMODITY OR                    addressing that situation.          alone; it needs the support of
the Philippines’ economy.         to the small farmers and fish-                                                INDUSTRY’                    In line with that, Land Bank     the other units and local gov-
How does Land Bank support        er folk.                                                                                                is also investing in research.      ernments.
the sector?                         The other priority sectors                                          ‘WE SUPPORT SMALL                 We have linked up with uni-             Land Bank has adopted an
   The agriculture sector plays   of Land Bank are the micro                                               FARMERS, FISHER                versities and state colleges in     integrated countryside de-
a very crucial role in shaping    small and medium enterpris-                                            FOLK, SMES, LOCAL                the provinces and the coun-         velopment philosophy. This
the country’s overall eco-        es, livelihood, agribusiness                                           GOVERNMENT FOR                   tryside so they can study and       synergistic framework is the
nomic growth and develop-         and agri-infrastructure, re-                                             INFRASTRUCTURE                 research how farmers can in-        most effective approach.
ment. It remains as one of the    newable energy and water.                                             PROJECTS. WE ALSO                 crease their production and         Adopting a silo approach to-
most economically significant                                                                             BACK RENEWABLE                  profitability. We will pilot test   wards countryside develop-
and promising industries in       Are you developing any                                                       ENERGY AND                 their findings and if success-      ment has a higher risk of
the Philippines in terms of its   more products to target                                                 WATER PROJECTS’                 ful, the idea will be marketed      failure.
vast potential and opportu-       even more farmers?                                                                                      to the farmers so they can
nities for expansion and            Yes, we developed a                                                            GILDA ELEPANO PICO,    adapt the technology. We            What final message would
growth.                           synergy program                                                                     CEO and President   then pilot test their recom-        you like to send to the read -
   This is primarily why Land     called the Food Sup-                                                                    of Land Bank    mendation and, if successful,       ers?
Bank is helping the farmers       ply Chain Program,                                                                                      encourage farmers to adopt             Well, for one, we’d like to in-
and fisher folk sector through    which is in support                                                                                     these new technologies.             vite them to visit our country
financial and technical assis-                                                                                                                                                not only to behold the many
tance. We want to reach as                                                                                                                Speaking specifically about         natural wonders in the Philip-
many farmers and fisher folk                                                                                                              your institutional invest -         pines, but also to explore pos-
as we can, and we tap rural                                                                                                               ments, what avenues do you          sible investment options.
banks and cooperatives which                                                                                                              like to go down, besides agri -        On our part at Land Bank,
serve as conduits in extend-                                                                                                              culture obviously?                  we will continue to do our
ing the much-needed credit                                                                                                                   Our priority sectors are not     share in promoting econom-
support to our mandated sec-                                                                                                              just the small farmers and          ic growth, especially in the
tor. We are working with                                                                                                                  fisher folk. We also support        countryside where potential
about 500 rural banks and                                                                                                                 SMEs and we finance local           areas for development are
their branches and over a                                                                                                                 government units for infra-         endless. Ultimately, we would
thousand cooperatives in or-                                                                                                              structure projects. We also         like to see Land Bank fulfill its
der to serve farmers and fish-                                                                                                            support renewable energy            mission and be able to touch
er folk across the country.                                                                                                               and water projects as well as       and make a difference in the
   Preparation is very impor-                                                                                                             the requirements of govern-         lives of the people we serve.




                    Our World Insert is produced by United World. USA TODAY did not participate in its preparation and is not responsible for its content
Distributed by USA TODAY                                                                                                                                                                                      Wednesday, June 15, 2011
                                                                                    THE PHILIPPINES                                                                                                                                         5




New public private partnerships
A longstanding lack of funds has hindered crucial investment in the Philippines, holding back economic development. Now the government believes it has found a way around the problem




CAYETANO PADERANGA                        ROGELIO SINGSON
Director General of NEDA                  Secretary of Public Works & Highways

The government plans to en-               such as water supply projects
gage in public private part-              and more efficient irrigation
nerships (PPPs) as a means of             systems to increase farm pro-
funding the public works and              ductivity. The President says
public services projects need-            PPPs will provide thousands
ed to boost the economy.                  of jobs, growth in the econo-
  “We cannot rely on public               my and long-term mutually
funds alone to spur the coun-             beneficial partnerships with
try’s growth,” says President             large corporations.
Aquino. “We need additional                  Grants totaling $8.5 million
investments from our partners             are being provided by the
in the private sector. As so              Manila-based Asian Develop-
many others before us have                ment Bank (ADB) and the Aus-
found, and as many others af-             tralian government to get the
ter us must discover for them-            PPP program underway, with
selves, working together                  the Philippine government
works.”                                   providing a further $8 million.
  The country needs to mod-               A newly established PPP Cen-           This past March, a raft of PPP infrastructure projects came up for bidding, worth an estimated $1 billion
ernize its roads, bridges, air-           ter, attached to the National
ports, transportation and                 Economic and Development               process will be completed with-             vate sector participation is be-              approaches, including the so-     of infrastructure in the coun-
communications systems for                Authority (NEDA), the coun-            in just six months.                         cause of management expertise                 licited proposals approach.       try is holding us back. There
the efficient movement of                 try’s independent economic                Cayetano Paderanga, direc-               and efficiency in terms of pro-               We prefer these, but we will      are a lot of opportunities for
goods and people, as well as to           development and planning               tor general of NEDA, says, “PPPs            ject implementation as well as                still welcome unsolicited pro-    the private sector to develop
build the competitiveness of              agency, will provide technical         are one way we can leverage pub-            maintenance.”                                 posals. We are looking at joint   more infrastructure, whether
the tourism industry. The                 assistance and help facilitate         lic resources with private fi-                He appeals to potential in-                 ventures as a variation to the    it is roads, airports, seaports,
Philippines must also invest in           the development of proposals,          nancing as well as expertise. One           vestors to come and look at the               BOT (build-operate-trans-         or telecommunications. En-
other critical infrastructure,            ensuring that the approval             of the reasons why we want pri-             Philippines. “We have several                 fer) process. There are several   ergy and water utilities are
                                                                                                                                                                           ways where people can get         also in demand.”
                                                                                                                                                                           involved when it comes to             The national highways net-


A proven track record,
                                                                                                                                                                           infrastructure and other          work is substandard and
                                                                                                                                                                           kinds of investments.”            poorly maintained, and the
                                                                                                                                                                              The first batch of PPP pro-    focus is on upgrading the na-
                                                                                                                                                                           jects was lined up for bidding    tional roads to international


a partner for progress
                                                                                                                                                                           in March, with an estimated       standards.
                                                                                                                                                                           private investment of more            “We are way behind Malay-
                                                                                                                                                                           than $1 billion. Most of the      sia, Thailand and Indonesia in
                                                                                                                                                                           projects come under the aegis     terms of road infrastructure
                                                                                                                                                                           of the Department of Trans-       and international standards,”
                                                                                 nancial flexibility to provide            and the support of govern-                      portation and Communica-          says Mr. Singson. “We are look-
                                                                                 an adequate return – earn-                ment that dreams for change                     tions and the Department of       ing at long stretches of toll roads
                                                                                 ing $283 million in 2010 –                and development will become                     Public Works and Highways.        and expressways being pushed
                                                                                 while allocating a significant            a reality.                                         Rogelio Singson, Secretary     towards the private sector, long-
                                                                                 amount for an entry into                     MPIC has a 45% float and                     of Public Works and High-         term road maintenance con-
                                                                                 power generation. Power                   a predominantly institution-                    ways, says, “We need to make      tracts and at passing on bridge
                                                                                 generation is the largest com-            al shareholder base spread                      the Philippines more global-      construction and mainte-
                                                                                 ponent of the power bill, at              globally.                                       ly competitive, and the lack      nance.”
                                                                                 58%, for consumers. Meralco
                                                                                 is best placed to provide con-
                                                                                 sumers with relief from high
                                                                                 power costs with its ability
                                                                                 to predict the optimum time
                                                                                 to invest given its extensive
                                                                                 knowledge of consumption
                                                                                 patterns.
                                                                                     At the parent company lev-
                                                                                 el, MPIC has a five-year in-
                                                                                 vestment plan which includes
                                                                                 Php25-26 billion ($610 mil-
                                                                                 lion) for roads and Php3.7 bil-
                                                                                 lion for hospitals.
                                                                                     MPIC is extending its road
                                                                                 network to improve com-
                                                                                 merce and convenience. Its
                                                                                 flagship project is the con-
                                                                                 nection of the Northern and
                                                                                 Southern toll road systems in
                                                                                 Luzon, the main island group-
                                                                                 ing in the country, through
                                                                                 the heart of Metro Manila,
                                                                                 the country’s largest urban
                                                                                 area. It will improve travel
                                                                                 from over an hour and a half
                                                                                 to less than 20 minutes and,
                                                                                 more importantly, allow com-
                                                                                 mercial vehicles to avoid the
                                                                                 truck-ban on public roads
Jose Ma. K. Lim, President and CEO of Metro Pacific                              during certain times of the
                                                                                 day, facilitating access to the
MPIC has grown from                       fective management. That is            country’s major ports locat-
strength to strength,                     MPIC’s claim to fame: we take          ed within the metropolis.
expanding infrastructure                  problematic companies, turn                MPIC develops world-class
development, turning                      them around and raise the              medical facilities with the ac-
companies around to                       level of service. These are ob-        quisition of existing hospitals
become competitive,                       jectives that we continue to           that are then improved with
meeting the needs of                      meet on a daily basis.”                capital expenditures and pro-
Filipinos across the nation                  Maynilad was in rehabili-           fessional management. Over
                                          tation and unable to provide           three years MPIC acquired
Working in partnership with               water to 3 million people in           five hospitals. Its hospital net-
the government, Metro Pa-                 its concession. In a little over       work is now the largest in the
cific Investment Corp.                    two years, it has reduced the          Philippines, present all over
(MPIC) is at the forefront of             number of un-served people             the country. The company is
the nation’s infrastructure de-           in its concession by 1 million         looking forward to adding
velopment. The new admin-                 and recorded a profit of $111          more hospitals to this net-
istration has sought to                   million in 2010. It is invest-         work with a target of approx-
develop public-private part-              ing nearly $1 billion over the         imately 10 hospitals and a
nerships to jump start infra-             next five years to ensure most         total of 3,000 beds around the
structure development.                    of the remaining 2 million             country.
“MPIC is in a good position               people are connected while                 MPIC is constantly seeking
to facilitate the government’s            working closely with its reg-          new areas for development
goals,” says president and                ulator to ensure money is              outside an already impressive
CEO of MPIC Jose Ma. K.                   spent effectively and prices           portfolio. Amongst these new
Lim.                                      are not unduly raised for the          areas are an airport and rail-
   At the helm of one of the              public.                                way system, both of which ser-
country’s most recognized                    At Meralco, the largest             vice Metro Manila and are in
companies for delivering ba-              electricity distributor in the         need of investment.
sic services, Mr. Lim explains:           country, the progress can be               “It is essential for the coun-
“MPIC has a track record of               seen in its financial returns.         try to have basic services at a
securing its contractual reg-             Under previous ownership,              high standard for it to be com-
ulatory returns from the gov-             it had been unable to secure           petitive. If water is not potable,
ernment and delivering to the             its regulatory mandated re-            if electricity is too expensive,
public the service they de-               turns – earning only $61 mil-          or if it takes too long to trans-
serve. At our portfolio com-              lion in 2008. With the change          port goods, we will never be
panies, we have improved                  in ownership, its tariff has           able to compete in an inter-
service delivery by any rea-              now been adjusted to a point           national market,” says Mr. Lim.
sonable metric with more ef-              that provides it with the fi-          It is with the expertise of MPIC

                           Our World Insert is produced by United World. USA TODAY did not participate in its preparation and is not responsible for its content
Open for Business in the Philippines
Open for Business in the Philippines
Open for Business in the Philippines
Open for Business in the Philippines
Open for Business in the Philippines
Open for Business in the Philippines
Open for Business in the Philippines
Open for Business in the Philippines
Open for Business in the Philippines
Open for Business in the Philippines
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Open for Business in the Philippines

  • 1. Our World Wednesday, June 15, 2011 THE PHILIPPINES Open for business This supplement to USA TODAY was produced by United World Ltd.: Suite 179, 34 Buckingham Palace Road - London SW1W 0RH - Tel: 44 20 7409 3106 - ourworld@unitedworld-usa.com - www.unitedworld-usa.com he May 2010 presi- would like to project openness, ing renewed attention in an ef- T dential election in the Philippines her- alded a new govern- ment, representing a new direction and a renewed sense of hope for this resilient na- tion of warm smiles and opti- approachability and be some- one people can relate to. The people of the nation are like the customers and the gov- ernment is here to serve,” he explains. Backed by positive GDP fort to increase food self-suffi- ciency and relieve poverty in the archipelago’s rural areas. The state-owned Land Bank, for example, is im- plementing the Depart- ment of Social Welfare mism. growth (2010 saw a 7.3% rise – and Development’s Benigno Aquino III’s re- the fastest pace since the mid- conditional cash sounding victory was the first 1970s – and forecasts for the transfer (CCT) pro- strong sign of support for the current year hover between 5- gram, from which candidate who hails from a fam- 6%), President Aquino is por- some 1 million ily of well-loved politicians that traying a bolstered image of the people currently have followed the line of ‘peo- Philippines to the world, and benefit. In 2010, ple power’ and opposed mar- the world is watching and lis- the government tial law. His record-breaking tening. New investment laws budgeted over margin of over 5 million votes offer better guarantees, yet are $231 million for also suggests that the country is balanced by the government’s the CCT program, on track for a period of political focus on sustainable develop- a figure that is ex- stability, a fact not gone unno- ment in all areas, especially pected to more ticed by the international busi- where natural resources are than double by the ness community; the elections concerned. This improved end of this year. were soon followed by a spike in business climate is crucial in The Philippines is investor confidence. the government’s plans to har- relying on public-pri- President Aquino is holding ness the power of the private vate-partnerships in or- true to his campaign platform of sector through partnerships to der to improve its “no corruption, no poverty” . address needs that the state infrastructure with a view “As the son of two people who budget cannot cover on its own. to become a regional logis- dedicated their lives for democ- “The country’s message over- tics hub. Better roads, bridges, A long-time racy, I intend to use what I’ve electricity networks, etc. will ally of the U.S., learned from my parents in lead- also enable the tourism indus- the Philippines is ing our country towards try to grow. In a tidy spider embarking on an ag- progress,” says President web of interconnections, gressive growth strategy Aquino. “I am deter- tourism is also expect- and warmly welcomes partner- mined to govern with ed to grow thanks to ships with the private sector transparency and ac- the country’s bur- countability, and to geoning casinos and show our people that through sim- ple and practical means, we can ef- integrated resorts, which in turn are paying into the government’s so- ‘Pacquing’ a punch fect change.” cial development Boxing champ Manny Pacquiao turned to politics to better serve his fellow countrymen His administra- programs. tion is also tackling “We’ve stream- The nation looks to Emmanuel earning an income. “We edu- ment to improve education, he the Millennium De- lined business regis- “Manny” Pacquiao as a national cate them on how to get the has also stressed how attract- velopment Goals tration, improved hero, a sports god, and an in- most from their talents, and ing private investors can play a (MDGs) head-on and power supply, institut- spiration because he went from help them learn the required major part in improving the the President believes ed reforms and issued nothing to becoming a con- skill sets for a particular job,” he country. greater transparency goes policies to fight corruption, gressman in the international says. “I’m also starting a free ed- “I want people to understand hand-in-hand with poverty al- and established closer coordi- arena and an ambassador for ucation program for children I am a businessman, who has leviation. nation between the national the Philippines. whose families cannot afford imported a billion dollar box- “Our battle cry during the and local governments He has been named “one to send them to school, because ing industry to the Philippines,” campaign was: ‘Kung walang seas is that the Philippines is to improve the in- of the most influential if not, who will help them?” he says. “As a congressman, one corrupt, walang mahirap.’ It sim- once again open for business as vestment climate, people today in the He is working alongside Pres- of my many goals is to create op- ply means that we’ll work to sig- a responsible and dynamic even in the world,” and num- ident Aquino to improve and portunities beyond boxing for nificantly reduce poverty and member of the community of countryside. ber one pound- develop Sarangani, and so far, my fellow Filipinos by helping corruption during my term,” he nations,” says President Aquino. We now have for- p ound the President has been very to bring billions more in other explains. Mr. Coloma agrees: “It is a land a govern- boxing cham- helpful and is likely to support industries and commerce.” The new administration has of opportunity, wealth and ment that is pion of the all of Mr. Pacquiao’s projects. Mr. Pacquiao believes the already taken immediate steps competent and professional sincere and is w o r l d . Also the vice-chairman of the Philippines can achieve eco- to make the government more people who can grow busi- determined Nonetheless, House Committee on nomic development if the transparent and the “Zero-Based nesses.” to pursue its one of Mr. Pac- Youth and Sports, government would fo- Budgeting” approach has been The President’s economic commitment to quiao’s main Mr. Pacquiao cus more on im- implemented to oblige all gov- plan for his six-year term re- move forward goals at the end of plans to align proving security ernment agencies to justify their volves around eight key areas, in broad daylight, the day is helping the the sports pro- and stability to projected expenses in order to open as prime investment op- where everything it does poor and his fellow Filipinos gram to pro- keep people safe limit their spending to the ab- portunities: agro-industry, busi- and how it does things will be as congressman for the mote not only and encourage solute minimum. ness process outsourcing clear, honest and transparent,” Sarangani region in Mindanao. boxing, but all people to invest. Herminio Coloma Jr., Secre- (BPO) and information tech- says President Aquino. Mr. Pacquiao is very pas- sports to help He knows that the tary of the Presidential Com- nology (IT) services, electron- sionate about his work because cultivate the Fil- government is able munications Operations Office ics and semiconductors, energy A UNITED WORLD of his own personal experience ipino youth. to help people if they re- and member of the late President and electricity, logistics, min- SUPPLEMENT PRODUCED with poverty and aims to focus To give the youth the ally want to, but the prob- Corazon Aquino administra- ing, shipbuilding, and tourism. IN THE PHILIPPINES BY: on development on a national opportunities for education and lem of corruption stands. “The tion, reveals that President The agricultural sector, for- Charlotte Rose, Andrew level despite just being con- a bright future, Mr. Pacquiao future of our country depends Aquino has put himself at the na- merly the country’s economic Machaj, William Skidmore, gressman for the Sarangani re- suggests that the government on us being united to help to im- tion’s disposal, truly believing in backbone, has taken a smaller Paula Bellsola, gion. sets aside funding for educa- prove our country,” he says. the presidency as an office from role in the shadow of the grow- Ugo Bagration and “I entered politics because I tion and educational infra- He recognizes that the im- which he can uphold the man- ing high-tech sectors as well as Vincent Rifici want to help people,” he says. “I structure like classrooms, so age people have of the Philip- date of the Filipinos. BPO and other services. Nev- know what they are feeling and that the children have more pines is not particularly good, “Despite the tremendous ertheless, agriculture accounts what they need our assistance space to learn. In addition to but Mr. Pacquiao is optimistic power his office holds, he for 14% of GDP, and is receiv- This report is with because I have been in that more funding, Mr. Pacquiao and wants to challenge the neg- available at situation during my lifetime.” has suggested leveling up the ative perception of the coun- www.unitedworld-usa.com Mr. Pacquiao is focusing on quality of education in the coun- try by engaging international creating a provincial hospital try by continuing teachers’ ed- media to promote the true rich- SPECIAL THANKS and provincial university for ucation and assessment, so that ness of the Philippines. “The United World woud like to extend a special thank you the Sarangani population of educators will need to keep re- Philippines is a beautiful coun- to Secretary Ricky Carandang and Ian Soqueno from over half a million, with his vi- freshing their qualifications. try and hopefully we can en- the Presidential Communications Team, and to sion of teaching the people to As the congressman and courage more people to come Chairman Sergio Ortiz Luis, Gabby Cruz and Renato work and how to benefit from boxer works with the govern- and discover that.” Osmena of the Philippine Chamber of Commerce Our World Insert is produced by United World. USA TODAY did not participate in its preparation and is not responsible for its content
  • 2. Wednesday, June 15, 2011 Distributed by USA TODAY 2 THE PHILIPPINES ‘THE FIRST ‘EVERYONE IS ‘WE MUST ‘WE HAVE TO PRIORITY IS KEEN ON BELIEVE IN ADDRESS THE SOCIAL ENSURING THAT OURSELVES. WE ISSUES THAT PROTECTION, THE THESE ARE PURSUING HAVE HELD US SECOND IS A SHORTAGES OF THINGS IN BACK SO THAT DRAMATIC TEACHERS, SCIENCE THAT WE CAN INCREASE IN CLASSROOMS, PEOPLE INITIALLY ACCELERATE THE EDUCATION, AND SCHOOL THINK DIFFICULT COUNTRY’S AND THE THIRD IS FURNITURE ARE TO ACHIEVE, BUT GROWTH AND INVESTMENTS IN MET, AND THERE WE’RE TRYING MAKE IT PUBLIC HEALTH, IS A GENERAL TO INSTILL THE SUSTAINABLE, WITH A FOCUS CONSENSUS FOR CONFIDENCE ULTIMATELY FLORENCIO ABAD ON MATERNAL ARMIN LUISTRO EDUCATIONAL MARIO MONTEJO THAT WE CAN CESAR PURISIMA REDUCING Secretary of Budget and HEALTHCARE’ Secretary of Education REFORM’ Secretary of Science and DO IT’ Secretary of Finance POVERTY’ Management Technology The fight against poverty Government departments – has risen by almost 19%, the initiatives to help the poor are rich potential for farming – arable like to treat this as an opportu- ple’s trust in government and unite across all sectors, biggest increase allocated in over on their own not enough, and farmland makes up more than nity rather than a problem. We encourage international in- rising to the challenge of a decade. Huge progress has that the economy needs to at- 40% of the total land area. Pro- can use agriculture as one of the vestors to invest in the country. meeting the Millennium been made in providing suffi- tract local and foreign invest- grams are being introduced to main areas where we can excel.” Cesar Purisima, Secretary of Development Goals cient textbooks, and resources ments to spur growth via help the nation feed itself, which As important as the devel- Finance, says, “We have to ad- (MDGs) on time are being focused on addressing public-private partnerships. the administration aims to opment of sectors with eco- dress the issues that have held the shortages of teachers, class- “We realize that investment in achieve by 2013, but beyond self- nomic potential is the need to us back so that we can acceler- “The first priority is social pro- rooms, and school furniture. poverty reduction programs will sufficiency the aim is to trans- transform government itself. ate the country’s growth and tection, the second is a dramatic make it sustainable, ultimately increase in education, and the reducing poverty.” He adds, “We third is investments in public really need to stay focused to health, with a focus on mater- fight corruption; there are no nal healthcare,” says Florencio quick fixes or shortcuts.” Abad, Secretary of Budget and Fiscally, the government is Management. “These are the pursuing a more prudent man- areas where we have been lag- agement of resources and ex- ging behind. In 2015, which is pects to lower and maintain its the final date of the MDG chal- deficit at 2% of GDP by 2013. lenge, we should be able to meet At the Philippine Stock Ex- our targets.” change, president and chief ex- At the top of the list is the re- ecutive officer Hans Sicat is duction of poverty; according to addressing what he calls the two a census in 2006, 4.6 million Fil- major challenges of limited liq- ipino families live below the uidity and good corporate gov- poverty threshold. Under a con- ernance. “We are trying to ditional cash transfer program, promote transparency and pro- subsidies are being provided to fessionalism,” he says. “Hope- families on certain conditions, fully, that will improve the view such as sending the children to of investors not just locally, but school and going on regular globally, as well. I think this will health checkups. By the end of do wonders for the economy this year, the government hopes because we are a major part of to provide subsidies to 2.3 mil- the fundraising for companies.” lion families, helping the re- A broader perspective comes mainder by 2015. from the legendary tycoon “This administration is very Washington SyCip, founder of serious about poverty reduc- President Aquino’s government has increased its spending on education by nearly 19% SGV Group, which represents 51 tion,” says Corazon Juliano- of the top 100 corporations in the Soliman, Secretary of Social “Everyone is keen on ensuring not ultimately bring you the jobs form agriculture into a modern, President Aquino, who cam- Philippines for both insurance Welfare and Development. “It that these shortages are met, and and make the kids healthier and dynamic and competitive sec- paigned on the basis that with- and tax auditing. “We need eco- has demonstrated this com- there is a general consensus for more educated; it is the demand tor that can serve as a spring- out corruption there would be nomic and political freedom and mitment with 34% of the bud- educational reform,” says Sec- coming from an expanding board for the economy. “We no poverty, has committed his we have to ensure that people are get going to social services, retary of Education Armin economy, for educated and want to export as much as we can administration to strict obser- educated and no longer hungry,” health, education and three core Luistro. healthier people,” he says. produce to the neighboring vance of the basic tenets of good he says. “We need political free- poverty reduction programs.” At the Department of Budget Proceso Alcala, Secretary of countries,” says Mr. Alcala. “A lot governance – in particular dom not only for the Philippines, Spending on education – seen and Management, Mr. Abad Agriculture, says full advantage of people are saying that there is transparency and accountabil- but for the whole of Asia and as the key to reducing poverty emphasizes that government must be taken of the country’s a food crisis issue, but we would ity. His aim is to rebuild the peo- developing nations.” A legacy of freedom fighters From a family legacy, President Aquino leads a new era for the Liberal Party and the Philippines It is always a challenge to pro- mote the legacy of a man and a family to become relevant, but in the case of Ninoy Aquino and his family, the Ninoy & Cory Aquino Foundation (Aquino Foundation) has taken up on this challenge to reach the lives of next generation Filipinos. To carry on the legacy of Ninoy Aquino, Rafael C. Lopa, presi- dent and executive director of the Aquino Foundation and Corazon “Cory” Aquino (1933-2009) was the 11th president of the Philippines and mar- nephew of Ninoy Aquino, has ried to Benigno S. “Ninoy” Aquino (1932-1983), former senator and opposition leader put together a campaign with Mekong Worldwide Crew to been very successful abroad spread the values of the foun- THE AQUINO could be a way to bring them dation. FOUNDATION HAS back to help the country further,” “It revolved around the idea PUT TOGETHER THE Mr. Lopa says. that if there is anything you want CAMPAIGN WITH THE The current President to communicate to young peo- TAGLINE ‘I AM A “Noynoy” Aquino is making it a HERO, I DO WHAT I ple, it is the whole idea that there point to fight poverty and im- BELIEVE IS RIGHT, I is a hero and innate goodness prove the education system. Yet, DO WHAT I BELIEVE in each one of us,” he says. “That IS GOOD, I FIGHT despite the inclusion of various is basically how she (Cory FOR JUSTICE, I FIGHT public-private partnerships put Aquino) felt we needed to com- FOR FREEDOM. I AM in place to help the government municate the legacy of Ninoy NINOY’ deal with the country’s problems because he really embodied the like malnutrition, hunger and idea of self-sacrifice for his coun- to be a Ninoy in that sense, and literacy, finding effective solu- try and people.” we managed to generate a lot of tions is still a challenge. “Every- Thus far, the Aquino Foun- interest in coming together.” thing is interrelated and it’s dation has partnered with retail The interest has grown sig- extremely difficult to know brands to introduce Ninoy nificantly, having brought to- where to begin,” Mr. Lopa says. Aquino to the public through gether an organization called Still, he believes that the Aquino merchandise that benefits nu- ‘The Ninoy Runners’ and even Foundation has helped Filipino merous charities. The founda- gathering celebrity support from society progress over the years, tion has put together the apl.de.ap of the Black Eyed Peas despite the small monetary as- campaign with the tagline ‘I am to help advocate for the public sistance it has been able to gath- a hero, I do what I believe is education problem in the coun- er. “I would equate the success right, I do what I believe is good, try. The star has agreed to be the and impact of a foundation such I fight for justice, I fight for free- foundation’s brand ambassador as this by how much it has done dom. I am Ninoy’ . and plans to travel in and out of for people who have created The campaign logo, a pair of the Philippines to raise money much bigger things,” he says. eyeglasses Ninoy Aquino was for the programs and promote As for the foundation’s future, known for, has since become an awareness about the problem. Mr. Lopa is very optimistic. “If iconic image. “The basic mes- Mr. Lopa believes that taking the we do our job well, we will real- sage of the campaign was ‘if you Aquino Foundation interna- ly promote the legacy of Ninoy were to see the country through tionally through well-known Fil- and Cory Aquino and inspire the eyes of Ninoy, what would ipino figures like apl.de.ap is the others to be like these two peo- you do now?’” Mr. Lopa says. next step in bringing Filipino is- ple,” he comments. “Then I think “The whole idea of ‘I am Ninoy’ sues to global awareness. this country will be a better place became a very effective model “We feel the whole idea of to live in. This country needs for us to talk about legacy, as it people wanting to give back to many leaders that should be able became so cool and fashionable their country because they have to look beyond themselves.” Our World Insert is produced by United World. USA TODAY did not participate in its preparation and is not responsible for its content
  • 3. Distributed by USA TODAY Wednesday, June 15, 2011 THE PHILIPPINES 3 Sustained economic growth The Philippines is “open for business” and backed by been building on its current broad-based bank lending growth and greater position of strength. The cen- transparency, accountability and competitiveness tral bank recently noted that the continued broad-based A surge in the inflow of for- This has been blamed largely growth in bank lending speaks eign direct investment (FDI) on the political uncertainty well of the solid growth into the Philippines this year is surrounding the national elec- prospects for the economy; being forecast by Bangko Sen- tions in May 2010, although loans for production activities tral ng Pilipinas. The central the government is fully aware comprise more than four-fifths bank expects $2.2 billion worth there are other underlying fac- of commercial banks’ total loan of FDI to be registered by the tors that it has to deal with to portfolio. end of 2011 – a staggering make the business environ- Cesar Virtusio, executive 83.3% rise on the end-of-year ment more attractive. director of the Bankers Asso- total for 2010. Cesar Purisima, Secretary ciation of the Philippines, says The reason for optimism is of Finance, says the Philippines that in the last five years (ex- the implementation this year of must develop its infrastruc- cept in 2008), bank lending the government’s private-pub- ture, make its policies more has grown more quickly, and lic partnership (PPP) program; competitive and reduce cor- at a rate that is even better the five initial PPP projects put ruption. On the fiscal side, the than the GDP growth. On top up for bidding this year are val- focus is on being more pru- of that, the percentage of non- ued at $1.1 billion. Investments dent in the management of re- performing loans continues are also expected to come from sources. “We hope to reduce to drop – to less than 3%. He major Japanese electronics and our deficit to 2% of our GDP believes the banks are well semiconductor companies by 2013 and maintain that dur- capitalized, with ample pro- looking to relocate to the Philip- ing the rest of the President’s visioning to absorb external pines. term,” he says. shocks. “One of the reasons A further rise in FDI is pre- “President Aquino is trying why the banking sector is so dicted for 2012, when the cen- to accomplish all of this in his successful is its competent tral bank expects a total of $2.7 six-year term. He does not management and supportive billion to be registered, basing think he will be able to ac- regulators,” he explains. its prediction, it says, on its re- complish it all, and nobody ex- Mr. Virtusio says the Philip- vised assumptions and outlook pects him to, but he wants to pines needs to address the ob- for emerging balance of pay- put the Philippines in the right stacles to its growth. “We hope ments components. direction and change things so that we can realize the poten- FDI inflows into the Philip- that the next administration The Aquino administration has set in motion a series of fiscal and management reforms in order to raise transparency tial that has been linked to the pines have been declining for will have no other choice but country for a long time now. a decade, but the trend was ex- to continue with the reforms is crucial. “The perception that determined to make the Philip- Philippines becomes a truly at- Now that we have an honest acerbated last year, when oth- that he started.” this is a clean government that pines competitive in the in- tractive business destination.” national leadership backed by er Southeast Asian economies, Florencio Abad, Secretary will promote transparency ternational marketplace. “This A big plus is that the Philip- able and competent cabinet such as Malaysia, Indonesia of Budget and Management, and accountability is very im- is why we say the Philippines pine financial system emerged and heads of government and Singapore, enjoyed as says the premium placed on portant.” is open for business. We are from the 2008 global financial agencies, we should have a fair much as a five-fold increase. integrity by President Aquino He says the government is gearing ourselves up, so the crisis in good shape and has chance to accomplish this.” Phenomenal growth for SM Investments From commercial and retail to residential and leisure development, the corporation does not shy away from large investments. SM has been highly successful, to boot Owned by Henry Sy, the rich- “Retail has a lot of potential,” Last year, SM’s net profits est man in the Philippines, SM says Ms. Guidote. “We are were better than expected, ris- Investments Corporation is mainly focused on Metro ing by 15% to Php18.4 billion one of the country’s largest Manila now, but there is still a (around $420 million), with companies, dominant in re- lot of potential in the provinces, consolidated revenues in- tailing, banking and shopping and that is where we are grow- creasing by 12% to Php179.3 mall development, and a fast- ing at the moment.” billion from Php160.1 billion in rising player in residential and SM is also dominant in shop- 2009. The largest contribution tourism-oriented real estate. ping malls, boasting no fewer came from retail (34%), with SM has been careful about than 41 across the country. By banking second (30%), fol- managing its resources, and the end of 2011, the number of lowed by shopping malls and has been growing year-on-year malls in the Philippines will real estate (23% and 13% re- both financially and in terms have risen to 43, and an addi- spectively). of assets. tional mall will have been SM has increased its capital “The Philippines is still an added to the three the group expenditure program to Php47 emerging country,” says Cora- already has in China, in the billion this year, from Php40.6 zon Guidote, vice president for cities of Xiamen, Jinjiang and billion last year, and with all its Investor Relations. “There is a Chengdu. core businesses continuing to lot of potential, so SM is pour- Ms. Guidote recalls that the grow, expects to sustain dou- ing a lot of resources into grow- very first mall the company ble digit growth in 2011. Cer- ing all of its core businesses.” opened was a mere 1.3 million tainly, it began the year on a The most profitable part of square feet, but was already the positive note, posting a 13% in- the group is the retail business, largest mall in the country. “It crease in net income in the first which has been undergoing was at the height of the Mar- quarter. significant expansion. With 28 cos crisis, when the father of the Corazon Guidote attribut- new stores opened in 2010, current president was assassi- SM is a very consumer-oriented company focused on serving the Filipino community in the best possible way es the group’s success to a high- and several more this year, SM nated; we could not have gone ly focused approach that she now has 144 retail outlets na- into the market at a worse time,” Starting to challenge retail with 726 branches nationwide. Its current portfolio includes 14 says has made it part of the psy- tionwide. These include 41 SM she says. “But the growth has as the group’s main driver is its Chinabank, in which the group residential projects, 13 of which che of Filipinos. department stores, 31 SM su- been phenomenal. It is now banking business; SM’s bank has a 20% interest, is the eighth are in Metro Manila and one “The Filipinos have been permarkets, 43 SaveMore our largest and one of our most network is the largest in the largest with 269 branches na- in Tagaytay City in the province with us over the years in terms branches, and 25 SM hyper- profitable malls, and we are Philippines. In the final quar- tionwide. of Cavite. This year will see the of growing the brand and the markets. The group also has continuing to expand it. Daily ter of last year, BDO Unibank, SM’s rapidly expanding launch of at least five new res- business,” she says. “SM reflects total ownership of Pilipinas footfall there is at least 700,000 in which SM has a 41% inter- property business has interests idential projects, all located in the progressive spirit of the Fil- Makro, which has 4 Makro to over 1 million, and the oc- est, became the country’s in residential, commercial, prime locations within Metro ipinos; we would not grow if the outlets. cupancy rate is about 97%.” largest bank in terms of assets, leisure, and hotel development. Manila. market did not support us.” Our World Insert is produced by United World. USA TODAY did not participate in its preparation and is not responsible for its content
  • 4. Monday, June 20, 2011 Distributed by USA TODAY 4 THE PHILIPPINES Land Bank, dedicated to financing rural development CEO and president of Land Bank of the Philippines, Gilda Elepano Pico shares the ins and outs of this government bank entrusted with boosting agricultural and rural sectors Ranked among the top five tant when lending to farmers of the national government’s Land Bank provides fi- sor with their produce based ment agencies and corpora- commercial banks in the and fishermen. We have es- thrust of promoting food se- nancing to all the players on the latter’s product re- tions because we are a gov- country, Land Bank of the tablished a group in Land curity. The objective is to in- along the value chain system, quirement. ernment bank. For example, Philippines is a government Bank called the Development crease farmers’ income by consisting of a full range of The processor, on the oth- if the NFA (National Food Au- institution that plays a unique Assistance Center which fo- providing financial and tech- activities that are undertaken er hand, commits to buy the thority) requires financing for role promoting countryside cuses on the institutional and nical support along the value- in turning a particular prod- produce of the cooperatives domestic rice procurement, development while remain- capability building of these added chain of a commodity uct into a form that is sold at a competitive price; and then we lend to them. ing financially viable. The cooperatives. or industry. and consumed. may also commit to provide Local government units are bank has grown into the The success of the bank de- We launched this last year At the outset, a coopera- the necessary inputs and tech- crucial in the food supply largest formal credit institu- pends on the strength of the where we allocated P50 billion tive and a processor will es- nical assistance if only to en- chain and in the development tion in the rural areas and to- conduits. Before we lend to ($1.15 billion) for the pro- tablish production, technical sure product quality and of the rural economies. We day offers a full range of them, we make sure that they gram, particularly to support and marketing contracts, standards. The processor need infrastructure so that banking services. are prepared technically in the financial requirements for where the cooperative then makes use of the pro- the produce of the farmers Gilda Elepano Pico, CEO terms of bookkeeping and in crop, livestock and fishery through its farmer members duce to convert it into a prod- can be brought to the trading and president of Land Bank of other areas of managing their production, working capital commits to supply the proces- uct that will again be an input center at the least cost possi- the Philippines since No- business. and acquisition of processing to another activity. ble. Sometimes it takes them vember 2006 and vice-chair- Another basic thing we re- and other fixed assets. ‘OUR FOOD SUPPLY It is really a complete chain a long time to transport from man since August 2005, has quire from them is equity. If CHAIN PROGRAM from farm production to pro- the farm to the trading areas, worked in various depart- they do not have a stake in AIMS TO INCREASE cessing to marketing. Farm- so transport costs are high. ments in Land Bank since the business, they can easily FARMERS’ INCOME BY ers will now be assured that We finance local governments 1981. Here Ms. Pico discuss- abandon the project. So for PROVIDING FINANCIAL their products will be bought. so they can build farm to mar- es Land Bank’s role in the every one peso that they put AND TECHNICAL The problem in the past was ket roads and rural infra- country’s sustained growth. in the cooperative, we give SUPPORT ALONG THE that there was no market for structure. them six pesos in loans. They VALUE-ADDED CHAIN their produce, so we are now Land Bank cannot do this Agriculture is the backbone of use these loans for relending OF A COMMODITY OR addressing that situation. alone; it needs the support of the Philippines’ economy. to the small farmers and fish- INDUSTRY’ In line with that, Land Bank the other units and local gov- How does Land Bank support er folk. is also investing in research. ernments. the sector? The other priority sectors ‘WE SUPPORT SMALL We have linked up with uni- Land Bank has adopted an The agriculture sector plays of Land Bank are the micro FARMERS, FISHER versities and state colleges in integrated countryside de- a very crucial role in shaping small and medium enterpris- FOLK, SMES, LOCAL the provinces and the coun- velopment philosophy. This the country’s overall eco- es, livelihood, agribusiness GOVERNMENT FOR tryside so they can study and synergistic framework is the nomic growth and develop- and agri-infrastructure, re- INFRASTRUCTURE research how farmers can in- most effective approach. ment. It remains as one of the newable energy and water. PROJECTS. WE ALSO crease their production and Adopting a silo approach to- most economically significant BACK RENEWABLE profitability. We will pilot test wards countryside develop- and promising industries in Are you developing any ENERGY AND their findings and if success- ment has a higher risk of the Philippines in terms of its more products to target WATER PROJECTS’ ful, the idea will be marketed failure. vast potential and opportu- even more farmers? to the farmers so they can nities for expansion and Yes, we developed a GILDA ELEPANO PICO, adapt the technology. We What final message would growth. synergy program CEO and President then pilot test their recom- you like to send to the read - This is primarily why Land called the Food Sup- of Land Bank mendation and, if successful, ers? Bank is helping the farmers ply Chain Program, encourage farmers to adopt Well, for one, we’d like to in- and fisher folk sector through which is in support these new technologies. vite them to visit our country financial and technical assis- not only to behold the many tance. We want to reach as Speaking specifically about natural wonders in the Philip- many farmers and fisher folk your institutional invest - pines, but also to explore pos- as we can, and we tap rural ments, what avenues do you sible investment options. banks and cooperatives which like to go down, besides agri - On our part at Land Bank, serve as conduits in extend- culture obviously? we will continue to do our ing the much-needed credit Our priority sectors are not share in promoting econom- support to our mandated sec- just the small farmers and ic growth, especially in the tor. We are working with fisher folk. We also support countryside where potential about 500 rural banks and SMEs and we finance local areas for development are their branches and over a government units for infra- endless. Ultimately, we would thousand cooperatives in or- structure projects. We also like to see Land Bank fulfill its der to serve farmers and fish- support renewable energy mission and be able to touch er folk across the country. and water projects as well as and make a difference in the Preparation is very impor- the requirements of govern- lives of the people we serve. Our World Insert is produced by United World. USA TODAY did not participate in its preparation and is not responsible for its content
  • 5. Distributed by USA TODAY Wednesday, June 15, 2011 THE PHILIPPINES 5 New public private partnerships A longstanding lack of funds has hindered crucial investment in the Philippines, holding back economic development. Now the government believes it has found a way around the problem CAYETANO PADERANGA ROGELIO SINGSON Director General of NEDA Secretary of Public Works & Highways The government plans to en- such as water supply projects gage in public private part- and more efficient irrigation nerships (PPPs) as a means of systems to increase farm pro- funding the public works and ductivity. The President says public services projects need- PPPs will provide thousands ed to boost the economy. of jobs, growth in the econo- “We cannot rely on public my and long-term mutually funds alone to spur the coun- beneficial partnerships with try’s growth,” says President large corporations. Aquino. “We need additional Grants totaling $8.5 million investments from our partners are being provided by the in the private sector. As so Manila-based Asian Develop- many others before us have ment Bank (ADB) and the Aus- found, and as many others af- tralian government to get the ter us must discover for them- PPP program underway, with selves, working together the Philippine government works.” providing a further $8 million. The country needs to mod- A newly established PPP Cen- This past March, a raft of PPP infrastructure projects came up for bidding, worth an estimated $1 billion ernize its roads, bridges, air- ter, attached to the National ports, transportation and Economic and Development process will be completed with- vate sector participation is be- approaches, including the so- of infrastructure in the coun- communications systems for Authority (NEDA), the coun- in just six months. cause of management expertise licited proposals approach. try is holding us back. There the efficient movement of try’s independent economic Cayetano Paderanga, direc- and efficiency in terms of pro- We prefer these, but we will are a lot of opportunities for goods and people, as well as to development and planning tor general of NEDA, says, “PPPs ject implementation as well as still welcome unsolicited pro- the private sector to develop build the competitiveness of agency, will provide technical are one way we can leverage pub- maintenance.” posals. We are looking at joint more infrastructure, whether the tourism industry. The assistance and help facilitate lic resources with private fi- He appeals to potential in- ventures as a variation to the it is roads, airports, seaports, Philippines must also invest in the development of proposals, nancing as well as expertise. One vestors to come and look at the BOT (build-operate-trans- or telecommunications. En- other critical infrastructure, ensuring that the approval of the reasons why we want pri- Philippines. “We have several fer) process. There are several ergy and water utilities are ways where people can get also in demand.” involved when it comes to The national highways net- A proven track record, infrastructure and other work is substandard and kinds of investments.” poorly maintained, and the The first batch of PPP pro- focus is on upgrading the na- jects was lined up for bidding tional roads to international a partner for progress in March, with an estimated standards. private investment of more “We are way behind Malay- than $1 billion. Most of the sia, Thailand and Indonesia in projects come under the aegis terms of road infrastructure of the Department of Trans- and international standards,” nancial flexibility to provide and the support of govern- portation and Communica- says Mr. Singson. “We are look- an adequate return – earn- ment that dreams for change tions and the Department of ing at long stretches of toll roads ing $283 million in 2010 – and development will become Public Works and Highways. and expressways being pushed while allocating a significant a reality. Rogelio Singson, Secretary towards the private sector, long- amount for an entry into MPIC has a 45% float and of Public Works and High- term road maintenance con- power generation. Power a predominantly institution- ways, says, “We need to make tracts and at passing on bridge generation is the largest com- al shareholder base spread the Philippines more global- construction and mainte- ponent of the power bill, at globally. ly competitive, and the lack nance.” 58%, for consumers. Meralco is best placed to provide con- sumers with relief from high power costs with its ability to predict the optimum time to invest given its extensive knowledge of consumption patterns. At the parent company lev- el, MPIC has a five-year in- vestment plan which includes Php25-26 billion ($610 mil- lion) for roads and Php3.7 bil- lion for hospitals. MPIC is extending its road network to improve com- merce and convenience. Its flagship project is the con- nection of the Northern and Southern toll road systems in Luzon, the main island group- ing in the country, through the heart of Metro Manila, the country’s largest urban area. It will improve travel from over an hour and a half to less than 20 minutes and, more importantly, allow com- mercial vehicles to avoid the truck-ban on public roads Jose Ma. K. Lim, President and CEO of Metro Pacific during certain times of the day, facilitating access to the MPIC has grown from fective management. That is country’s major ports locat- strength to strength, MPIC’s claim to fame: we take ed within the metropolis. expanding infrastructure problematic companies, turn MPIC develops world-class development, turning them around and raise the medical facilities with the ac- companies around to level of service. These are ob- quisition of existing hospitals become competitive, jectives that we continue to that are then improved with meeting the needs of meet on a daily basis.” capital expenditures and pro- Filipinos across the nation Maynilad was in rehabili- fessional management. Over tation and unable to provide three years MPIC acquired Working in partnership with water to 3 million people in five hospitals. Its hospital net- the government, Metro Pa- its concession. In a little over work is now the largest in the cific Investment Corp. two years, it has reduced the Philippines, present all over (MPIC) is at the forefront of number of un-served people the country. The company is the nation’s infrastructure de- in its concession by 1 million looking forward to adding velopment. The new admin- and recorded a profit of $111 more hospitals to this net- istration has sought to million in 2010. It is invest- work with a target of approx- develop public-private part- ing nearly $1 billion over the imately 10 hospitals and a nerships to jump start infra- next five years to ensure most total of 3,000 beds around the structure development. of the remaining 2 million country. “MPIC is in a good position people are connected while MPIC is constantly seeking to facilitate the government’s working closely with its reg- new areas for development goals,” says president and ulator to ensure money is outside an already impressive CEO of MPIC Jose Ma. K. spent effectively and prices portfolio. Amongst these new Lim. are not unduly raised for the areas are an airport and rail- At the helm of one of the public. way system, both of which ser- country’s most recognized At Meralco, the largest vice Metro Manila and are in companies for delivering ba- electricity distributor in the need of investment. sic services, Mr. Lim explains: country, the progress can be “It is essential for the coun- “MPIC has a track record of seen in its financial returns. try to have basic services at a securing its contractual reg- Under previous ownership, high standard for it to be com- ulatory returns from the gov- it had been unable to secure petitive. If water is not potable, ernment and delivering to the its regulatory mandated re- if electricity is too expensive, public the service they de- turns – earning only $61 mil- or if it takes too long to trans- serve. At our portfolio com- lion in 2008. With the change port goods, we will never be panies, we have improved in ownership, its tariff has able to compete in an inter- service delivery by any rea- now been adjusted to a point national market,” says Mr. Lim. sonable metric with more ef- that provides it with the fi- It is with the expertise of MPIC Our World Insert is produced by United World. USA TODAY did not participate in its preparation and is not responsible for its content