Singapore-based Macquarie Capital has committed to invest at least $1.2 billion in the Philippines to build a 1,300- megawatt (MW) floating solar plant on Laguna Lake, touted to be the biggest of its kind in Asia. The investment firm signed a letter of intent during the state visit of President Ferdinand “Bongbong” Marcos Jr. in...
Category: Business
Post
Who’s misinforming the public on the debt service?
An issue has arisen on what exactly are the Philippines’ debt service obligations. Contending parties from the government and the media have issued contradictory statements on how to define the debt service: The government claims it is manageable; some in the media are raising alarm bells. Last Aug. 24, Budget Secretary Amenah Pangandaman was quoted...
Post
Food security? Ease the plight of farmers first
The issue of food security is in the headlines these days because of the attention the new administration is giving it and the fact that the new president, Ferdinand Marcos Jr., has positioned himself as head of the Department of Agriculture (DA). I have been living and working in the Philippines for 20 years, and...
Post
No contact apprehension: Can cameras end the traffic mess?
Have you ever opened your mail and found a notice of violation (NOV) jolting you with a fine of P2,000, or even P4,000? Your immediate reaction might well be “What the [expletive]!”—and understandably so. But then you’ll realize that the attached digital image of a vehicle shown, supposedly, running a red light or making an...
Post
What is wrong with technocrats?
President-elect Ferdinand Marcos Jr.’s designation of known technocrats to manage the Philippine economy raises the issue of whether continuing to rely on this particular group of experts can actually do good for the Filipino people and the country. The rise of technocratic management of the world’s economies over the last 70 years has spawned studies...
Post
Building a history of good credit
A World Bank publication in 2017 showed that close to three-fourths of Filipinos borrowed cash from informal sources. Informal sources aren’t easy to police and often get away with charging exorbitant interest and intimidating borrowers when they can’t pay up. This may be why Filipinos get really uncomfortable when talking about borrowing money. I had...
Post
Missing the boat on population management and economic development
The Philippines has missed a number of opportunities toward long-term economic development. While it was in pretty good shape in the 1960s through the late 1970s—and certainly highly competitive with other developing countries in Asia—it began to falter at the turn of the decade. By the early 1980s it started to miss the boat in...
Post
Don’t save for retirement, build long-term wealth
By Jenn Simons As a hypersocial adult who’s been stuck at home on a reduced income with the possibility of a medical emergency looming, the last few months have felt like practice for retirement life. It really made me think about my retirement savings plan (or lack thereof). If I’m honest, the term “saving for...