Fearless forecasts

The University of Asia and the Pacific (UA&P) held a symposium last week that featured the institution’s well-known founders, former Finance Secretary Jesus Estanislao and chief economist Bernardo Villegas, to talk about “The Next 50 Years of Philippine Economy and Governance.”

The occasion was interesting. Both stalwarts gave very fascinatingly auspicious and positive scenarios to a time that neither of them may no longer be able to actually witness or prove to happen.

Considerations

Good governance and social responsibility have proven pivotal roles toward economic advancement and social betterment. The core values of the Filipino, according to Estanislao, are consonant with the key ethical frameworks that help build positive relationships leading to profitable activities ascribed in good governance and social responsibility. These are love of country and people, patriotism, freedom and responsibility.

Established key core values to successful good governance and social responsibility are patriotism, democracy and accountability.

The steps or fundamental changes to be made to bring the country closer to greater economic heights and better financial landscape are: a) from being looked down upon to being looked up to; b) get high level of respect from building weak and inefficient institutions to strong, capable institutions, and c) from being divided by selfishness to being united.

In this connection, Estanislao called for the practice of personal good governance, integrity and ethics. These are to start in the family and echoed further in the schools, other entities and their alliances, fostering solidarity and teamwork as well.

Next are awareness and proper appreciation of our resources and the practice of the Bayanihan spirit. A good grasp on our resources will both lead to a realistic appreciation in their utilization and exploitation as well as improve economic and financial policies with neighbors in the Association of Southeast Asian Nations (Asean) region, in East Asia and the world.

Estanislao said he found that the main strategy to accomplish the goal of economic and social advancement would be the Bottom-Up approach, in addition to devising a 10-year program that should be reviewed every three years.

The ordinary citizens, like you and me, should take charge because the responsibility of acting on behalf of society as well as the obligation to keep a balance between the ecosystem and the economy are better achieved when voluntarily accepted rather than when imposed by the government to the individual.

Villegas, for his part was very optimistic that the country would hit its economic and social goals. He said that where the country would go has been the result of the positive contributions of the past Presidents—from Marcos to the present time.