Investments will make the people feel economic progress

State of the Nation Addresses are often a balance between the past and the future, especially if it is the third such speech of a president into a six-year term. True enough, President Ferdinand Marcos Jr. 's SONA last Monday was a reckoning of what had been accomplished by his administration and what initiatives had been started so far.

At the same time, it was an identification of the direction he intended to take for the remainder of his administration and was a rallying cry for the whole Philippines to come together to steer the nation forward, toward all our goals and aspirations. 

Out of numerous concerns and challenges that the country is facing, the president did a respectable job of capturing the most important issues that must be attended to. But there were some themes that reflected the concern of a greater percentage of the population, because they pertain to sustained economic growth that would eventually contribute to the benefit of all Filipinos. 

The economy, as many of us are aware, is largely driven by consumption. This economic make-up has its merits but also its weaknesses, as we saw clearly during the pandemic when mobility restrictions hampered consumption, disrupted supply chains, drove the prices of goods and services higher, and halted economic activity leading to a loss of jobs.

It only showed how vulnerable we still are to developments in the external environment, things that are beyond our control. We saw how swift and how substantial the damage was, to the detriment of the economy and of the people. 

It is evident that something must be done to make the Philippine economy more resilient to factors outside of our control. In this case, the pursuit of investment-driven economic growth looks like an ideal course of action that will create more livelihood opportunities, provide income security, strengthen economic resilience, promote long-term stability and uplift the quality of life of the Filipino people. 

To his credit, Marcos reported to the people that he had secured significant investment pledges. He has been building strong relations with partners and friends in the international community, securing such pledges during his visits.