Our flame of hope

Thirty-six years after Edsa 1, our challenge is to keep its spirit alive by defeating those who aim to extinguish our flame of hope.

Our next president will face the challenge of navigating our economy out of the pandemic. Due to the inflated national debt this administration will leave behind, the new government’s ability to support the economy will be severely constrained. Resources will have to be put to best use, with no tolerance for corruption. Private sector investments will have to be mobilized.

The most urgent demand is to get our people back to work, and for this, the new government has to generate jobs. And jobs are generated through investments. In turn, investors seek compelling economic opportunities backed by a trustworthy government. The wish list of investors is well-known: sound policies and programs, a competent and efficient administration, credible efforts to curb corruption based on transparency and accountability, a level playing field, respect for contracts and the rule of law, consistent and reasonable regulations. Investors prefer a president they can trust and respect, backed by a Cabinet composed of competent and honest experts.

It is in this context that we are to select our next president: Ferdinand Marcos Jr. or Vice President Leni Robredo. Let us compare what each has to offer.

For starters, Marcos Jr. is widely suspected of using ill-gotten wealth for his campaign and is a convicted tax evader; not even a million trolls can change this fact. How he hopes to inspire the Filipino people to support his tax collection efforts will be interesting to behold. He could of course jumpstart the effort by paying the P23 billion in estate taxes his family owes, now grown to P230 billion with interest and penalties! He wants also to replicate his father’s presidency which he touts as the Philippines’ “golden era.” But the distinguishing features of the Marcos economy were massive corruption and crony capitalism, leading to national bankruptcy. Marcos Sr. carved up the economy and distributed its major sectors among his cronies. Sugar, coconut, tobacco, construction, utilities, mass media, the nuclear plant, all these were parceled out among cronies who borrowed massively, from government financial institutions or from banks guaranteed by the Republic of the Philippines. Under the weight of widespread corruption and greed, the Philippine economy collapsed!

VP Leni’s record of government service, on the other hand, is marked by hands-on and personal involvement, transparency, integrity, competence, and a genuine desire to make Filipino lives better. With a limited budget, she optimizes the use of resources with zero tolerance for waste or corruption and renders service wherever and whenever help is needed. She is strong, caring, and a truly selfless patriot.

Some would argue that the appointment of qualified economic managers is as critical as our choice of president. As Marcos Jr. and VP Leni have not announced their key advisers and Cabinet choices, perhaps we can intelligently guess who they might pick by looking at their advisers and supporters.

With Marcos Jr., the names that come to mind are Larry Gadon, Imelda and Imee Marcos, Apollo Quiboloy, Mike Velarde, Sal Panelo, Harry Roque, Erap and Jinggoy Estrada, Gloria and Mike Arroyo, Juan Ponce Enrile, and the Duterte family.

For VP Leni, those who have publicly expressed support include Cielito Habito, Ernesto Pernia, Winnie Monsod, Senen Bacani, Delfin Lazaro, Jess Estanislao, Jose Cuisia, Joey Salceda, Stella Quimbo, Albert del Rosario, Antonio Carpio, Conchita Carpio Morales, Hilario Davide, Br. Armin Luistro, Fr. Bobby Yap, Chel Diokno, Serge Osmeña, and scores of religious and school leaders, economists and other professionals, and former government officials.

If “by their friends you shall know them,” then we can fairly guess what kind of administration each candidate offers. A good test might be to ask your preferred Cabinet appointees under which president they would be willing to serve. I know some highly respected business leaders who can be persuaded to serve, but only under a president they respect.

Today, 72 days before election day, I turn to my friends in the business community. As owners, bosses, and officers of business establishments, large and small, you enjoy the respect and trust of those who work with you; they look to you for guidance. My appeal is simple: if you believe that the next six years are vital for our country’s future, that we cannot tolerate another six years of incompetent, corrupt, and rudderless governance, and if you believe in keeping alive the spirit of hope that Edsa 1 represents, reach out to your colleagues and associates at all levels, and let them know why VP Leni is your choice and why their future and that of their families, the future of your company, and of our country, all depend on the choices we make in May. Together let us keep our flame of hope alive!

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Ramon R. del Rosario Jr. is a trustee of Makati Business Club.

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Business Matters is a project of the Makati Business Club ([email protected]).

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