The Feel Good Blog

Yesterday's State of the Nation Address (SONA) puts Philippine President, Gloria Macapagal-Arroyo in the front page of today's edition of the FT, the first time I've seen it happen in the two years that I've been reading the paper. Philippine issues appear sparingly in its pages, thanks to correspondent Roel Landingin who comes up with the goods. There's even a running joke in the paper that "the Philippines is the country of the future, and will always be about the future" if you get the drift. But it's not the same these days. Some sentiments have changed. This country has re-emerged, and is keeping people interested to take a second look. I must admit that I wasn't among those who looked though, although I have with me a fifteen-page transcript.

Incidentally, this is the second SONA to have occurred almost right after a high-profile release of a kidnapped victim. If I still remember it right, last year there was a captive released from his Iraqi captors and the President briefly touched on it in her speech.

Last year's speech was focused on infrastructure spending and the dwindling of the budget deficit. At the centerpiece of the President's showcase in 2006 was an improbable series of bridges that would connect the islands of Panay, Negros, Cebu, Bohol and Leyte together. Such a network would no doubt speed up the flow of sevices and goods in this nation divided by water. People thought, "There must be something there for her to make a statement like that. The good times must be back!" It caused much excitement that the stock market rallied the next day, buoyed by cement and construction stocks no less.

This year's talk was more or less the same. Refreshing our knowledge of the different regions in the country, the President took us on a whirlwind tour which covered roads, airports, seaports and railroads. It made clear one thing - that the Philippines is now awash with more than enough cash to help us catch up with our neighbors. Having the dough is one important thing of course, but keeping the dough and getting it done are likewise valid concerns. I hope it's the latter that comes up real soon. I want to be able to drive from Iloilo to Tacloban!