“Interesting and Interested. It helps to be both.” – Seth Godin
*Here’s an interesting topic I found over the weekend, enjoy 😀
In recent days, traders and investors everywhere are partying all over with the mining sector gains (e.g. PX,AT,LC,MA), the astronomical rises in penny stocks (PWR,BHI,ZHI) and even the already strong highfliers in the past (e.g. GERI). Over the weekend, Filipinos had NBA All Stars visit the country, Azkals game and it makes me want to broadcast a few more interesting things that every Filipino trader/investor today, I feel, is partly grateful for.
Philippine markets in PNoy’s term has generally been welcomed very well by most Filipinos. Price action has been bullish, and international ratings agencies left and right have been giving forecasts of possible upgrades. Let’s pause for a while and thank what Aquinomics generally did , at least for the financial business space.
Reference: Aquinomics by Ana Marie Pamintuan
Highlights of the Article:
1.) “If we are blessed,” Purisima told us, the country will get investment grade within two years, but “definitely” within P-Noy’s term.
2.) P-Noy has been criticized for lacking vision. Purisima counters that “it’s 99 percent execution.”
Aquinomics has four pillars:
1.) One is fiscal sustainability and macroeconomic stability. In this Purisima says the country is on track, with reserves at historic highs and borrowing costs down, a balance of payments surplus, moderate inflation, and deficit targets within range.
2.) The second pillar is the private-public partnership or PPP program. This has stalled a bit, with seven instead of 10 projects scheduled for bidding within the year. But Purisima said “we’re resisting the temptation to rush into half-baked projects.”
3.) A third pillar is ease in doing business, for both local and foreign investors. Last week, for example, the Securities and Exchange Commission signed an agreement with the Land Bank of the Philippines, allowing the bank’s branches nationwide to accept incorporation papers. The SEC and Department of Trade and Industry will soon be combining their data.
4.) The fourth pillar is investment in people – giving Filipinos health care, education and the skills necessary to become “productive participants in the economy,” Purisima said.
– The Faceless Trader