A Book of Relevance

Today, the Philippines will welcome a new leader as Ferdinand "Bong-Bong" Marcos Jr. will be inaugurated as the 17th President of the Republic of the Philippines. For the first time ever, the event will be held with lavish ceremonies which includes a military parade and arrival and departure honors at the grounds of the Malacañan Palace.

The President will inherit a lot of problems, which will include a war on drugs initiated by President Duterte's efforts that made him unpopular among human rights organizations. The new Chief Executive will also face increasing loan obligations from creditors as a result of the government's efforts to inoculate Filipinos from the deadly COVID-19 virus.

There are more problems to address. The new government will need to face the challenges brought about by the K-12 curriculum that was introduced just a few years ago. In terms of agriculture, the problem resides on the rampant and shameless smuggling of certain plants and plant-based products that displaces local farming output in entering the market by dragging the price down due to over abundance of supply.

In the fisheries sector, the Department of Agriculture has issued permits for importation of certain species used in the canning of fish for industrial purposes that also finds its way in the local wet markets, eventually bloating the supply which also sabotage the prices of fish. This scheme limit the profitability of local catch as middle merchants try to charge more by exploiting the system.

There are diplomatic concerns, as well. The President must deal with a shaky relationship with China in terms of the nine dash line and disputes in maritime waters, while a new era of closer relationship with the United States seems inevitable. As the Indo-Pacific region becomes vibrant, more foreign powers become interested in the state of the Philippines, and the ASEAN as a whole. China asserts itself in a position of a foreign power in the region, while the Group of Seven is taking the next steps on how to be more relevant in this thriving community of nations.

With the COVID-19 restrictions expected to be lifted as the Philippines and the world achieves herd immunity, the new administration would be very busy opening the economy and encourage spending to propel growth and avoid a recession. As a beautiful archipelago with a lot of beautiful beaches, the government is also expected to ramp up tourism receipts to rival countries like Thailand and Indonesia.

In addition, there are unfinished infrastructure projects from the past governnent that is expected to be continued. Roads and bridges are constructed to solve the traffic within the capital, while a new major airport will be built to support an outdated Ninoy Aquino International Airport.

Fuel prices and inflation are on the rise, and sound fiscal policy and efficient debt management will be needing. Importation and rampant smuggling remains a problem within the Bureau of Customs, and a serious battle to combat corruption in a systemic problem that is deeply imbedded in the bureaucracy is a challenge that will never be easy.

As the Philippines watch a new President taking his oath of office, observers are waiting to see more resolve from Marcos Jr. to deliver results. After all, he has to prove something and change the antagonistic role of his family in the pages of history books.

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The Editorial is sponsored by Lacoste Men's Watch.