• ‘Dutertenomics’ debuts in Mideast

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    PRESIDENT Rodrigo Duterte’s socioeconomic agenda was unveiled in his trip to the Middle East last week and will be called “Dutertenomics,” Trade Secretary Ramon Lopez said on Monday.

    “Dutertenomics” aims to widen the gains of economic development, address inequality and uplift the quality of life of all Filipinos, the Cabinet official said in a statement.

    Lopez said the President’s visits to Saudi Arabia, Bahrain and Qatar significantly strengthened diplomatic relationships, resulting in stronger commitments to enhance bilateral trade and investments.

    The government also made gains for overseas Filipino workers in the three countries, Lopez said, citing memoranda of understanding and agreements in the field of education, health, vocational and skills training; investments; and technical cooperation.

    These initiatives, Lopez said, form part of “Dutertenomics” that would lead to more job and income opportunities and improved quality of life.

    Duterte urged the oil-rich countries to buy more Philippine products to improve their trade balance with the Philippines. Saudi Arabia, Bahrain and Qatar are the main sources of oil and oil products imported by Philippines.

    Lopez also reported several initiatives to facilitate investments, including the Investment Protection and Promotion Agreement (IPPA) with Qatar, which should facilitate the flow of Qatar investments into the Philippines.

    This agreement, negotiations for which started nine years ago, will make Philippines an eligible recipient of investment funds from the Qatar Sovereign Fund. The initial investment estimate was $1 billion.
    Lopez said: “Qatar investors will be treated fairly and will not be disadvantaged.”

    The government, he said, would “facilitate identification of opportunities and entry of investments.”

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    2 Comments

    1. How original!
      More propaganda in place of actual performance.
      The principles are still an international begging bowl policy, exporting OFW’s for abuse, a low cost labor pool for the chinoys, and a dumping ground for cheap chinese products/rejects.

      On the international dashboard of key performance indicators it looks like the philippines is heading towards an economic iceberg.

      Inflation increasing, unemployment rising, (highest in ASEAN), youth unemployment at 16%, the peso under pressure, exports down, interest rates due to rise, wages frozen/declining in real terms, prices rising, balance of payments worsening, carmageddon on roads, EU investments to decline and aid to be reduced, allies alienated, increasing number of OFW’s, brain drain, widespread incompetence & corruption in government departments, scandals galore, no moral leadership, and no progress on key infrastructure projects.

      There is not one international economist in the cabinet and duterte would even have trouble spelling john maynard keynes.

      It is more like droganomics.
      He will end up killing the economy.

      • On the contrary James. I for one am enticed to come back to Philippines, with new investment flowing in, security is better, consumer confidence is high, all signs point to good for business. I’m most likely not alone. Should I and others like myself sets up companies in the Philippines then unemployed will go down, economy will improve and Philippines would be less reliant on EU and USA. In business, inflation can be a good thing too. In fact, I’ve sent more money back home as of late due to inflation. PS. Exports has increased thanks to Chinese demands for Philippines goods, if you were to remove your biased glasses maybe you will start seeing the many positives the current Govt has achieved thus far. Of course, I only speak for myself and as a dual citizen, how I can be of help to Philippines at the same time grow my companies.