Tag Archives: Economy of the Philippines

An Economy Built on Mining – Learning from South Africa

On 11 March 2017, President Rodrigo Duterte says he is willing to let go of the P70-billion earnings the government collects from mining operations. “We can live without it. I would rather follow Gina. Maghanap-buhay na lang tayo ng iba, get the P70 billion somewhere else and preserve the environment. ‘Wag na tayong magbolahan,” he said on Saturday.

P70-billion is no small amount. This is a substantial amount of money which can be used to develop areas and communities that are beyond the reach of the government. A substantial amount of money that can be utilized by the Filipino people whose battle-cry has long been ‘inclusive growth’.

Based on the World Bank for the current 2017 fiscal year, and calculated using the World Bank Atlas method:

Low-income economies are defined as those with a GNI per capita of $1,025 or less.

Lower middle-income economies are those with a GNI per capita between $1,026 and $4,035. Fifty-two (52) countries including the Philippines are in this bracket.

Upper middle-income economies are those with a GNI per capita between $4,036 and $12,475. Fifty-six (56) countries including South Africa are in this bracket.

While High-income economies are those with a GNI per capita of $12,476 or more. Seventy-nine (79) countries such as Australia, Canada, and the United States are included in this list.

How can a country such as the Philippines move from a low-income economy to a high-income one? The best way is to take a long hard look at its neighbors.

Though jumping from a low-income economy to a high-income one may be a tall order, and the Philippines using the mining models of Australia, Canada and the US are too idealistic, it would be to the country’s best interest to redirect its gaze to a country with similar trades, businesses and the challenges that go with it. When it comes to minerals development, South Africa is the country closest to the Philippines.

The billion dollar question (no pun intended) which begs to be answered: Can an economy be built on mining?

South African Ambassador to the Philippines, His Excellency Martin Slabber shares with us his insights on what Africa was, to what it is now because of mining. A privileged discussion, this story was crafted in the hopes of giving the Philippine government a glimpse of “what our economy could be” if ethical and responsible mining practices were done in the Philippines.  

For the full story, refer to page 38 of the Philippine Resources Journal with the subject – An economy that was built on mining: How the Philippines can learn from South Africa by Maria Paula Tolentino

For more information about this story, contact its author:
MissTolentino  
Twitter – @misstolentino22  
Facebook – www.facebook.com/misstolentino22/

Celebrating Diversity

Judging people by physical appearances distracts us from serious issues. As one politician put it, physical appearances can be used as a sign of solidarity with those who share it. By ridiculing politicians for their physical appearance, we elevate them to a moral high ground, even as physical similarities can mask glaring differences between politicians and their constituents. Finally, and more importantly, this kind of “bullying” reinforces a culture that overvalues physical appearance.1

With the 2016 elections less than a year from now, we need to desist from attacks on the physical appearance of politicians. Journalists in particular should be mindful of their power to dignify certain discourses. We cannot be distracted from the more relevant parameters with which to hold politicians to account. We cannot gift them with ‘persecution’ that gives them a moral high ground while it conceals and absolves their moral and legal failings. More importantly, by casting politicians physical features in a negative light, we are perpetuating a culture that over values physical appearance, upholds certain standards of beauty and renders harm to our countrymen who share these features. Indeed, if we are to elevate Philippine politics to a certain measure of dignity, if we are to make people proud and respectful of the ways people look, we must spare the physical appearance of our politicians from ridicule and verbal abuse.1

**Though the piece above is angled on Philippine politics, the typical Filipino’s tendency to judge people by physical appearances goes beyond our politicians. Our intolerance for those who don’t share the same physical qualities (skin color, height, etc.) are monstrously contributory to our stunted growth as a nation. If we want to be more and do more for this country, its high time to put an end to these destructive prejudices.

On culture:
I cannot celebrate independence when I can be so casually told in public that I am less of a Filipino or a person solely because my grandparents were (Chinese) immigrants. Do we subconsciously insist on defining patriotism as an accident of birth instead of a lifetime’s conviction? How can we continually decry mistreatment of Filipinos overseas yet tolerate such vitriol at home?2

**If we want our OFWs to be treated well abroad, don’t you think it’s only fair for us Filipinos to treat expats and Chinese immigrants with the same decency and respect we ardently expect? I would like to live in a country where everyone is welcome. Where there is a sense of community and where an expat can call my country his home. Families, economies and countries thrive because its foreigners (as well as its residents) are able to work together and make their country of residence more prosperous since they first arrived.

On social status:
I’ve also been quite vocal about this with friends: You’re poor? I don’t take it against you You’re rich? I don’t take it against you either. Bottom line, does it really matter? In the grander scheme of things, it’s the heart of the person that counts.

Too idealistic? Not at all. On the contrary, a realist clearly sees what needs to be improved in order to make communication lines easier and effortless, thus laying the ground work for straightforward and uncomplicated relationships (business or otherwise) for us to live better and to a greater degree, thrive.

For quite sometime now, I’ve been practicing going beyond what my eyes can see, and rigidly looking at the character of the person. So far, this methodology of making friends has opened doors for me that I couldn’t have possibly imagined.

I encourage you to be more accepting/tolerant/forgiving of people’s differences, may they be physical appearances, race, culture, religion, social background, etc. In the digital age, the world has become smaller and our neighbors more accessible than ever. As a nation, we have more to gain if we embrace, rather than shun, this reality. There is strength in diversity, if only the Filipino can look beyond himself.

“I can imagine nothing more terrifying than an eternity filled with men who were all the same. The only thing which has made life bearable…has been the diversity of creatures on the surface of the globe.”
― T.H. White

References:
1 Philippine Daily Inquirer. ‘The politics of physical appearance’. Gideon Lasco, June 15 2015.
2 Philippine Daily Inquirer, Opinion. Sisyphus’ Lament, ‘Anti-Chinese-Filipino slurs are visible’. Oscar Franklin Tan. @oscarfbtan

Solaire Eyes International Gambler through Integrated Resort

After the huge and much talked about opening a year ago and being the first new property in Entertainment City, Solaire Resorts and Casino has experienced a year of overwhelming popularity, adding to this growing popularity is its recent October 16-28 2014 World Poker Tournament®.

In a mutually beneficial five-year relationship with World Poker Tournament®, Solaire Resorts and Casino will be playing hostess for a country long regarded as one of Asia’s poker hotbeds, the Philippines. With a destination designed to match international luxury resorts across the globe with world-class gaming facilities, Solaire Resorts and Casino’s recent World Poker Tournament® was a smashing success with over 58 Million Pesos awarded during its two week Poker festival.

Solaire’s Senior Vice President for Casino Marketing, Cyrus Sherafat recounts what went on during the festival, who Solaire is eyeing to play on the felt and what Solaire will be in the following months to come.

Solaire Hosts 1st World Poker Tour in the Philippines,  Eyeing to Attract International Gamblers through Integrated Resort
Solaire Hosts 1st World Poker Tour in the Philippines, eyeing to Attract International Gamblers through Integrated Resort

For more of my interview, please grab a copy of Power Play Magazine’s December 2014 issue with Rustan’s Chief, Amb. Bienvenido R. Tantoco, Sr. on the cover.

Out now on all leading bookstores nationwide.

Featuring the legendary and iconic Rustan's,
Featuring the legendary and iconic Rustan’s Chief, Ambassador Bienvenido R. Tantoco, Sr

For more information about the magazine, please check out their online properties below.
Power Play Magazine Official Website: http://www.powerplayphilippines.com.
Facebook page: https://www.facebook.com/PowerPlayPh/
Twitter page: @POWERPLAY_PH
Instagram:  @powerplay_ph

QED remains unfazed, adjusts sails to mining industry descent

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On the cover: Quest Exploration Drilling’s (QEDs) mining equipment featured in an ongoing Masbate Project.

“Exploration is not mining. Exploration is just finding out what’s out there. Exploration in itself is an industry and can provide significant benefits to the government revenue base, but more importantly to the rural communities” – Allan Blackley, CEO/Managing Director of Quest Exploration Drilling (QED).

qed cover story.jpg
Issue 4 Cover Story, The Philippine Resources Journal: Interview with industry veteran and Quest Exploration Drilling (QED) CEO/Managing Director Mr. Allan Blackley.

The Philippine Resources Journal speaks with Quest Exploration Drilling’s (QED) CEO and Managing Director Allan Blackley, who highlights the difficulties the resources sector is currently facing midst an investment market with lowering commodity prices. The full interview can now be read in the Journal’s 4th issue.

For more information about this story, please get in touch with the journalist at twitter [@misstolentino22]

Market Views: Markets and Mining Sector Insights from a seasoned Investment Banker

With the inevitable rise and fall of the markets, has the Philippine mining industry taken a turn for the worse?

The Philippine Resources Journal together with MissTolentino.com sat down with investment banker and Mabuhay Capital Corporation Chairman, Mr. Raymond Davis, to discuss his take on the current mining situation and if potential investors should be thinking twice before investing in another mine.

Philippine Resources Journal together with MissTolentino.com discuss Markets & Mining Sector Insights with Mabuhay Capital Corp. Chairman, Mr. Raymond Davis in the May-July 2014 Economic Commentary issue of Philippine Resources Journal
Philippine Resources Journal together with MissTolentino.com discuss Markets & Mining Sector Insights with Mabuhay Capital Corp. Chairman, Mr. Raymond Davis in the May-July 2014 Economic Commentary issue of Philippine Resources Journal

 

The May-July issue 2014 of Philippine Resources Journal is now available.
The May-July issue 2014 of Philippine Resources Journal is now available.

 

 

For the full story, turn to page 24 of the May-July issue of the Philippine Resources Journal entitled:

Market Views: Markets and Mining Sector Insights from a seasoned Investment Banker

LINK: http://issuu.com/paperlesstrail/docs/philippine_resources_issue2_2014__m?e=0/8269815