Seven BBM deals

and higher in the coming years. The economy must produce 7 percent growth per year to enable the Philippines to reach high middle-income status of $4,500 per capita by the end of the Marcos II presidency. Most importantly, in financing the economic growth, for the first time, an administration is pooling state funds, earnings and savings in a meaningful way, through the Maharlika Investment Fund.

According to Albay Rep. Joey Salceda, there is immediate interest in investing among major funds such as Temasek, Japan Bank for International Cooperation in the first sovereign wealth fund of the Philippines.

The Bureau of Treasury, which heads drafting of the IRR, has expressed openness to allowing strategic partners from the start through IRR provisions – reducing the needed government capital infusion. Listing in stock exchange will happen down the line, Salceda predicts, thus unlocking awesome financial values.

Four, Build Build More.

BBM is keen to expand the country’s stock of infrastructure on a scale and vision never before seen, with annual infra spending exceeding P1 trillion or more than 5 percent of GDP. Total infra spending in six years of BBM – P9 trillion, double the P4.5 trillion of president Duterte. BBM’s father, Ferdinand Marcos Sr., built more infra than all the previous presidents before him.

For the first time in history, Metro Manila will have more airports than it probably needs in the next half century – a rehabilitated Manila International Airport or NAIA, a new Manila International Airport in Bulacan by San Miguel Corporation, Sangley Airport by the Henry Sy family and the government-built Clark International Airport that is now run by the Gokongwei and Aboitiz families.

Five, BBM has completed the emancipation of agrarian reform farmers. Marcos I freed farmers from centuries of bondage to the land they never had hoped before of owning. Marcos II completes that emancipation by freeing agrarian reform farmers from P58 billion of unpaid debts.

According to Rep. Salceda, the New Agrarian Emancipation Act condones P58.125 billion, benefiting 654,000 agrarian reform beneficiaries and involving a total of 1.18 million hectares of awarded lands. With estate tax amnesty until 2025, and LGUs encouraged to do RPT amnesty.

Also, some 52,000 hectares of unused government lands will be distributed to farmers.

Six, BBM is keen on climate change adaptation and mitigation. He knows fully well that the Philippines is among the top three countries to be harmed by a climate gone berserk.

Seven, digitalization is the new mantra. It is the gateway to genuine inclusion.

As to worries about the socalled P14-trillion Philippine debt, Salceda says debt is actually under control. Both the US and Singapore have more debt to GDP (exceeding 100 percent) than the Philippines (63 percent of GDP).

Assures Salceda: “Debt figures have remained in line with the Medium-Term Fiscal Framework, although the change in external debt has nearly equaled change in domestic debt, highly unusual, due to Fed rate hikes and the depreciation of the peso versus the dollar.”

Finally, Salceda offers insights (from Wharton) on what makes a president great:

1. History rewards the risktakers.

2. A president who actively

U.S. We just hope that those who profess love of country or who may have personal ill feelings about the United States or China – regardless of whether they are more inclined to favor one country over the other – what is important is to remember that deep inside, he or she is a Filipino, and will think long term on the effects of his or her actions one way or another.

One thing is certain: I know for a fact that PBBM may have some issues with the United States –most especially stemming from what happened in the past –but he has undoubtedly made it clear that as the president, he will never allow whatever personal feelings or issues he may have to cloud his sworn duty to defend and preserve the best interest of the Republic and the Filipino people. (Philstar. com)

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The opinions, beliefs and viewpoints expressed by the author do not necessarily reflect the opinions, beliefs and viewpoints of the Asian Journal, its management, editorial board and staff.

* * * babeseyeview@gmail.com campaigns for his historical place is engaged in a selfdefeating exercise.

3. There is no single theory of presidential success.

4. Presidents can only be understood within the context, conventions and limitations of their time.

5. If presidents are governed by any law beyond the Constitution, it is the law of unintended consequences.

6. Presidential power, although awesome on paper, is based largely on moral authority.

7. The president requires a talent for making useful enemies.

8. Every great president marches to the beat of his own drum.

9. The challenge posed by any crisis is equaled by the opportunity for leaders to forge an emotional bond with the people they lead to gain moral authority and expanded powers.

10. Greatness, like beauty, is in the eye of the beholder. (Philstar.com)

* * * The opinions, beliefs and viewpoints expressed by the author do not necessarily reflect the opinions, beliefs and viewpoints of the Asian Journal, its management, editorial board and staff.

* * * Email: biznewsasia@gmail.com