Bongbong Marcos and the Challenges of Modernizing the Philippines

The assumption that Bongbong Marcos has significantly improved the Philippines since taking office as president is premature. The country is far from achieving its goal of becoming an Upper Middle Class nation by 2025. Here, we explore the current challenges and achievements related to infrastructure, economic growth, and the electric vehicle (EV) market under his administration.

Infrastructure Development

The infrastructure development projects in the Philippines have faced numerous challenges and delays. For instance, the implementation of the MRT-7 railway project has been jeopardized due to alleged Right of Way issues. Similarly, the Makati Subway project has had to halt operations due to a territorial dispute, resulting in legal setbacks. Highway projects, such as the Skyway in Balagtas, Batangas, have also been delayed due to a complex web of legal and technical obstacles.

Moreover, the persistence of corruption has hampered progress. Projects that were supposed to curb corruption have instead led to renewed instances of graft under the current administration. This has not only hindered the development of critical infrastructure but also eroded public trust in the government's ability to deliver on its promises.

Economic Growth and Investment

Despite these challenges, the administration of Bongbong Marcos has managed to attract significant investor interest, particularly in the military industry and the promotion of Filipino exports. Through the efforts of influential family members, such as his cousin Romualdez, the country has seen a boost in agricultural production, making it more self-sufficient. However, this success comes with some caveats.

The government's initiative to support the production of EV batteries has garnered significant attention. While attracting foreign investments to produce EV batteries is a step in the right direction, critics argue that the strategy may inadvertently undermine the local industry. The arrival of foreign companies like VinFast suggests that the local industry may struggle to compete. This situation has led to a loss of faith among many Filipinos who feel that their domestic companies are left behind.

EV Market and Future Prospects

The Philippine government has set a target to have at least 2.1 million electric vehicles (EVs) on the road by 2028. This ambitious goal is driven by a desire to improve air quality, reduce energy imports, and boost the economy. However, the government faces criticism for not prioritizing the growth of local industries in the EV market. Some economists argue that a more collaborative approach with local companies would be more effective.

The current government's decision to invite foreign investors to produce EV batteries has been met with skepticism. Critics contend that this strategy sends a negative message to local companies, fostering a perception that the Philippines lacks the ability to innovate and compete in the global market. Furthermore, the influx of foreign capital might lead to the dominance of the EV market by foreign entities, which could have far-reaching implications for the country's economic independence.

Conclusion

The administration of Bongbong Marcos is grappling with multifaceted challenges as it seeks to modernize the Philippines. While there have been some positive developments, such as attracting investor interest and boosting agricultural exports, the country still faces significant hurdles in areas like infrastructure development, economic growth, and the EV market. The path to achieving its goal of becoming an Upper Middle Class nation in 2025 is fraught with challenges, and the government needs to address these issues more effectively to secure a brighter future for the country.

Keywords: Bongbong Marcos, Philippine Development, Infrastructure Projects, Economic Growth, EV Market