NAAWAN, Misamis Oriental (MindaNews / 20 December)—Since taking office in 2022, President Bongbong Marcos has, accordingly, logged 18 foreign travels, 12 of which happened this year.
Malacañang has justified the President’s trips, saying these have earned the country trillions of pesos in investment pledges.
The Presidential Communication Office (PCO) said that the total foreign investments pledged during Marcos’ trips were: Indonesia, $8.48B; Singapore, $6.54B; United States, $3.847B; Thailand, $4.62B; Belgium, $2.20B; China, $24.239B; and Japan, $13B. These pledges could, accordingly, generate millions of job opportunities.
PBBM said that the measure of success of his trips abroad is the return of investment (ROI). He looks satisfied saying that one successfully signed memorandum of understanding (MOU) is enough to make all the previous trips worth it.
But it does not require a course in Economics 101 to understand that investment pledges are no ROIs but are mere promises no matter if these promises were couched in gilded memoranda of understanding (MOU).
Justifying the President’s foreign trips with senseless and stupid pronouncements or claims only cheapens such particular concern of the State.
As the country’s architect of its foreign policy, the President of the Republic is expected to have a number of foreign travels. These trips abroad put into motion his plan to strengthen political and economic relations in the international community. That is one of the obligations, responsibilities, and also frills that go with the territory of the head of state. There is no need to justify it.
But, of course, there is a need to limit the official entourage of the foreign trips to basic essential, as well as to its frequency. A trip every month or 12 annually on P1-billion budget is too much for our poor country. PBBM should exercise self-restraint.
Meanwhile, it is suggested that Palace commission the National Economic Development Authority (NEDA) to work on those investment pledges to fruition. A Promise Fulfillment Task Force may be created for the purpose.
(MindaViews is the opinion section of MindaNews. William R. Adan, Ph.D., is retired professor and former chancellor of Mindanao State University at Naawan, Misamis Oriental.
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