Recovery: hope in the horizon
The Issue: Rebooting current and future investments via investment incentive legislation.
Our View: This should have been done six years ago to ease the onslaught of the Asian crisis.
For many, especially well-meaning investors, the approval of the Investment Incentive legislation is a welcomed sign of hope in the horizon. It sets the stage to begin laying down the groundwork for fresh rounds of investments and expansion of current investments.
At least, there’s now a sense of optimism that businesses, large and small, can employ the intent of the law to expand or bring in new forms of wealth and jobs creation. It would open the floodgates to opportunities of hi-tech investments. It would grant the NMI both wealth and jobs creation, in addition to triggering redefinition of the goals of education throughout these isles.
It took real leadership to bring this matter from the discussion stage to reality. It took a wealth of experience in investments to begin laying out the groundwork for a brighter economic future for these isles. It took a no non-sense approach to bring errant and warped minded lawmakers to see that the measure transcends politics at all levels. And it also took a lot of persuasion to enable entrenched and adolescent solons to come to terms with their inadequacies. We thank you Speaker Benigno R. Fitial for finally parting the sea of adolescency in the upper chamber.
We are equally tickled to death to see that you would push for the repeal of other strangling laws that have done nothing but discourage private sector expansion and fresh rounds of investments. Yes, we too agree that exemptions aren’t the answer but instituting a realistic approach to aiding the private sector maneuver amidst severe decline in revenue generation.
We know that somewhere, somehow, a lawmaker with a wealth of experience and wisdom would eventually prevail in setting the stage for better and brighter days ahead in our collective quest for wealth and jobs creation. And, indeed, it is in the legislation that now awaits the chief executive’s signature pushed in both chambers by Speaker Fitial. Congratulations! Si Yuus Maase` yan ghilisow!
