Rebuilding the Bridge of Investment

The Issue: The ruinous effects of the Asian Crisis, especially this year has derailed and shut down more than 2,000 businesses.

Our View: We definitely must learn to build value in lasting investments to lure capital infusion to these isles.

For most businesses in the private sector, about the only thing that has kept them bullish amidst the ruinous effects of the Asian Crisis, is hope that the regional crisis would soon turn the corner so we can begin rebuilding the crumbled bridges of wealth and jobs creation.

It is in hope of brighter tomorrows that has rekindled the spirit of the private sector to weather the storm of a major drop in business activities. Industry leaders have forged ahead reengineering ways to stave off any further assault on their business operations. Nothing had been easy as industry CEOs and their management teams trim fat to stay afloat against the huge tsunami of the Asian Crisis. Most have successfully stuck it out toughing a tough time that hopefully has reached rock bottom as the final days of this century closes out.

The receding bad times have given us a realistic perception and appreciation of the critical role the private sector plays in revenue generation. And we are thrilled of the realization that without true partnership with the private sector, most of the disposition from the public sector–which require lots of revenue–would be fruitless. It takes a healthy private sector paying taxes into the local coffer to enable our local government to deliver better and efficient public services. Herein lies the essence of strengthening such partnership. One can’t do without the other.

Indeed, there’s much to be hopeful for in the new millennium. The vehicle of hope and optimism should enable local leadership (all sectors) to regroup and take these isles beyond institutional investments. Such an effort would require serious review and revamp of strangling investment laws that have derailed and discouraged adding value to current investments and luring fresh capital infusion. It is our responsibility to adopt a proactive attitude in the installation of the requisite infrastructure so that we in fact can begin the long journey of wealth and jobs creation.

The promise of the future abounds and is ours if and, only if, we can rebuild the bridge of hope, trust and stability that have been the bane of most industries here over the last three years. Let us begin rebuilding the Bridge of Investment! Si Yuus Maase` yan ghilisow!