Lack of electricity, poor workforce are reasons investors do not choose PH -- investment banker
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- Опубліковано 6 жов 2024
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Global Investment Banker Stephen Cuunjieng discusses the Philippines investment and economic landscape. How can a country compete with its neighboring nations in terms of investment potential?
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Ang friend ko nakapangasawa ng German businessman. Nagtayo ng Toy Factory sa Bulacan. After 3 yrs,napipilitan sya i-shut down for the following reasons:
1. Incoming Raw materials mahirap maka labas sa customs kung wlang lagay;
2. LGU -manghingi din ng lagay;
3. Laging brown out;
4. Bad traffic;
5. Political environment, ay magulo;
6. Unsafe;
7. Mataas ang electricity;
8. Daming statutory holidays( double pay kasi);
9. Mataas ang Tax;
10. Mabagal ang process ng kahit anong paperwork lalo na kung wla kang lagay;
11. At dahil sa mga above reasons, mahirap sila i-meet ang customers deliverables, kasi lagi nalang may sabit, may problema. Eh , product nila papuntang Europe so kailangan ng on time.
12.High Operating Cost;
13. Puro suhol daw.
14. At marami pang iba😅
Thank you sa reality.
Sobrang corrupt talaga.. lahat na. Kung hindi lagay, ninanakaw, kung hindi ninanakaw, May threat.
Thats the reality, kahit araw araw pa pupunta ng ibang bansa ang presidente na hikayatin ang mga budinessman na magnegosyo dito sa atin, walang mangyayari. Ayusin nila ang mga problema dito, kusang pupunta ang ,ga iyan kung ayos ang ating bansa
the election of bbm, ay nagtipon tipon ang mga trad politician, na pulos kurap. Ayos! yan na, sinabi mo na. Tama po kayo
ung share pa ng business profit para sa government.... anlaki
Stephen Cuunjieng is a refreshing antidote to the madness of the Philippine economy and politics. He boldly sheds light on the hard truths and realities of the country with remarkable simplicity and eloquence. The Philippines needs a much-needed slap in the face to snap out of its slumber and catch up with its neighbours.
Many thanks
@@scuunjieng "It's not about English language skills, but comprehension that matters."
You nailed it, sir!
I am a Filipino-Canadian working here in a food processing company. Some of the high-ranking technicians and mechanics in our company are Vietnamese. I can attest that they are really good at technical and mechanical stuffs.
@@LifeOdysseyMotivation thanks
@@scuunjieng You are welcome Sir Scuunjieng.
Lowering the cost of electricity, increasing comprehension of students, elimination of layer upon layer of bureaucracy in the government seems readily fixable, but, as a foreigner looking inwards, I'm not sure the elite of philippine life really want to fix these problems. As if there is an inertia not to change is what it appears.
Its a hard pill to swallow for many of us Filipinos but this man is speaking the truth. I recently visited Vietnam and I was so impressed how much development is going on. Never I had felt so disappointed for my home country seeing what our neighbors are doing. Nakakalungkot isipin na napapagiwanan na talaga tayo.
Many thanks
phililpines will remain a third world forever cause we dont have the will and we are not smart enough. dirty country, dirty cities, let alone managing the economy
Neda dapat Ang meron info to move forward Ang economy
yeah Philippine path is backwards, before Philippines were much more richer than her neighbors, now the neighbors are way richer
tama, lagi natin sinisisi ang world war 2 sa pagkaiwan natin, which was almost 80 yrs ago. ang vietnam nagkaroon ng all-out war less then 50 yrs ago and they should be worse than us but look where they are now. they are just more resourceful and madiskarte than us, to put it simply. tama na dapat ang pagself pity natin at kumilos na tayo bilang bansa.
Count me as a big fan of Mr. Cuunjieng. I admire him for his objectivity, tact and honesty. He tells us what we need to hear, not what we want to hear. I always make it a point to watch his appearances on ANC. A true breath of fresh air. Any President of the Philippines who truly wants to leave a lasting and durable legacy in the area of economic development should bring him on board as a Presidential Adviser. More power to him!
Many thanks
Di ba ito yung nagsabi dati na we don't matter to the international community regarding another Marcos presidency? Nan laki mata ng anchor nun 😁
same.
@@alice_agogoMay point naman. Masyado lang kasi mataas ang ihi ng mga pinoy. Pero even si Teresita Sy of SM admitted I think during the Davos, WEF that the PH is really is just a small peck of dust in the whole family of economies in the world. We don't indeed matter for one, hindi naman tau kasama sa global chains ng logistics... Truth hurts.
Engot, we should rally and gather enough momentum and make himself the president
Sad but True, love the honesty, PH is romanticizing the plight of OFW's as our modern day hero to hide the inefficiency of government.
Thanks
This is so much true,ang dating pa nga is parang “nagtatago sila sa saya ng mga OFW”, in short, they are making excuses by hiding the true problems of the country.
True
very well said. 100% true. very sad to think. Corruption to the core.
phililpines will remain a third world forever cause we dont have the will and we are not smart enough. dirty country, dirty cities, let alone managing the economy
ang priority ksi ng mga nauupo sa gobyerno ay paano uunlad ang pamilya nila, busy ksi sila sa kakaisip paano makakadugas, wala na time magplano para umunlad ang bansa.
Yes
Selfish brats. Pinoy mentality is so weak that they would exchange patriotism for thier selfish agenda. Makikita talaga kung uunlad ang bansa kung ang mga namumuno nila hundi gahaman sa kayamanan at kapangyarihan.
Agree and that’s why their dealings with the US government is so suspicious. They are not thinking about the good of the people but what’s good for themselves. They will ensure a luxurious “retirement” for themselves while the people will continue to languish. Sadly many do not, or refuse to see this, because they play the national pride card. There will be national pride when the priority is the well-being of every Filipino and not being offered as sacrificial lambs on the altar of US ego. As Mr Cuunjieng pointed out so much needs to be righted internally.
naiiyak ako, ang sakit pero totoo. napaka honest ni sir
Salamat
Thank you so much
Based on my experience being here in Manila for the last year, the real reason businesses choose other places are due to the extreme amount of corruption at all levels of agencies, ridiculous amount of red tape and requirements for businesses to even attempt to start, slow processing times when it comes to documentation if a business is proceeding the proper way, disregard for quality and customer experience of already existing businesses which lead to depressed quality of business experience overall. These are just to name a few... great country, I've met amazing, hard working and intelligent people, a lot of potential but a truly held back country.
"Great" country lol🤣
I think our geography plays a bigger role to how underdeveloped we are. Our scattered land masses surrounded by water and uneven land is a logistical nightmare. It makes the transportation of goods, commodities and even workforce expensive. If we weren't an archipelago and most of our islands were connected, we would be as developed as Taiwan.
I found that most of the "hard working and intelligent" people in the PH left. Most workers in PH nowadays are incredibly lackadaisical about doing their jobs. Go to any store and you notice this immediately compared to Thailand or Vietnam.
Corruption in the goverment is the primary reason
@@fukun5773, It is just an excuse. From the island dispute with China, one can see that Philipines, which has more than 8000 islands, does not want a neighbour which can benefit Philippines greatly.. How foolish can it be?
That good example use by mr. Stephen cuunjieng about a businessman who reported a corrupt mayor in Vietnam who was asking for bribe and is now languishing in prison after the prime minister acted swift , by a mere 2 weeks enlightened me a lot…I am an ofw here in the US as a nurse, and has a patent invention just approved by the US Patent office…am about to start prototyping and in a year hopefully to go manufacturing full blast …I now had a changed of heart ❤️, sadly for my kababayan, I will do it in Vietnam after enough consultations with my partners…if I succeed in the future …when I am already big…then I will look back again to my beloved country Philippines to invest….but sadly not at the moment….the risks are just to high to gamble….I love my country Philippines but I have to love myself first…
very understand
The stock market will go down further and goodluck on the fed pausing rate hikes w/ all the hawkishness that has failed to keep up with inflation
The market has been a turmoil since covid, the brief relief rallied for only a year and now the devastating effects of pumping trillions into the economy is here and will be for a while.
Fixed income and treasuries may work for you while you try to figure out the next entry point for stocks
It is always good to have a balanced fin-plan. I work with a professional planner and fixed-income strategist in NY. the fixed income portion of your portfolio won’t simply serve as a buffer to the volatility of the equity portion of your portfolio, but will provide legitimate income.
@Jennapeters144 Who are you working with please?
LOREN LENA WALKER, advanced lady in 60s or 70s and professional, reserach if you care for supervision.
Essentially, corruption is the most important problem in this country. It’s a top down problem that is why it is never resolved. There is a saying, you get the government you deserve. We have an unenlightened and poorly educated electorate so people keep on electing the same corrupt families. With the advent of social media, this is only worsened.
You're opinion is spot on.
I definitely agree with you. It’s just so sad that we will never recover from this predicament.
corruption also prevail in private enterprises albeit to a lesser degree or limited to top management
this reflects on the people , they are all corrupt,
corrupt government is a reflection of corrupt citizen
Big fan of Mr. Cuunjieng - eloquent and straightforward. I hope he gets more airtime to discuss our economic situation past, present, and future. Everyone should be aware that our government has been neglecting all these opportunities because of a lack of investment in the *right* infrastructure - all they do is build highways
Many thanks
Mahalaga rin ang transport infrastructure for an archipelagic nation. How do you move people and goods if you don't have good logistics?
Transport has been being prominent in infrastructure, and I think there will be a shift towards utility infrastructure investment.
@@herrkommandank675 agree also critical
Coming from financial industry for more than decade, Mr. Cuunjieng have summarized everything about PH. Thank you always Stevie for your great insights and expertise.
many thanks
Protect this man at all costs!
Many thanks
When people with substance share their expertise and ideas, they bring with them much-needed awareness on topics we need to hear. Thanks, Mr Cuunjieng for encapsulating what the Philippines needed since time in memoriam, good execution! We can have all the best-laid plans, but without the right execution by ethically capable leaders, we will continue to see the country's decline progressively increase.
Many thanks
I hate to make the comparison between the US and the Philippines because we're talking here of apples and oranges. The only reason why I mentioned the US is because President Biden himself took charge by implementing his Infrastructure Act in dealing with the country's antiquated and poor infrastructures: roads; bridges; internet and yes, bringing electricity to rural areas. My point: Can the president of the Philippines convince his cabinet to provide much-needed infrastructure solutions with electricity as the starting point? Something has to be done about resolving the ongoing issue of brownouts otherwise the Philippines will continue to languish as a "third-world country."
The ph govt is the cancer. Let’s be real about it
HAHAHA TANUNGIN NYO ANG PRESIDENTE SI FIRST LADY SI MARTIN ARANETA " SI ROMUALDEZ !! HAHAHA !? SIGURADO NA ALAM NILA ANG SAGOT,!!
HANGANG THE ROTTEN PILIPINO BUREAUCRACIES ARE IN PLACE LIKE LAGAY DITO, PADULAS DYAN, WALANG MANGYAYARING PAG LAGO NG KABUHAYAN ANG MGA MAHIHIRAP NA PILIPINO? TOO MUCH CORRUPTION IN THE PHILIPPINES THAT BIG TIME INVESTORS ARE HESITANT TO COME IN? AS DOCUMENTED BY SOME START UP ENTERPRENURES THE BAD EXPERIENCES THEY HAD DEALING WITH THE PHILIPPINE BUREAUCRACY IS ALMOST ALWAYS A GUARRANTEE THAT A BUSINESS OR BUSINESSES ARE DOOMED TO FAIL! CORRUPTION HAS BEEN INGRAINED FOR SO LONG THAT IT MAY TAKE A MIRACLE GET RID OF IT FROM THE WAY OF LIFE IN THE PHILIPPINES? THAT IS WHY PILIPINOS WHO WANT IMPROVE THEIR LIVES HAS TO GET OUT OF THE COUNTRY AND ONLY RETURNS AFTER RETIRING?
The very first step in solving a problem is to acknowledge there is one. Really good job Mr Stephen. I completely agree 100 percent on all the points you have brought up during the discussion.
Many thanks
The government is always in denial. They don't acknowledge the problem. Busy pointing fingers whose fault it is. In the end, no solutions were made.
phililpines will remain a third world forever cause we dont have the will and we are not smart enough. dirty country, dirty cities, let alone managing the economy
Very pragmatic and straightforward guy! I agree on what he said about education, we are so much behind in terms of our curriculum, when most of the world are pushing for STEM programs, our educational system doesn’t even have industry standards that make the graduates equipped for the real world. We have so much to do. We were too occupied with politics for the longest time that we have forgotten what is important and that is us, the Filipinos.
namulat ako nung 90's palagi sinasabi ng mga teacher namin pag graduate namin ay dapat sa white collar job...
It's actually the lack of interest in politics that got us here because we have let corrupt politicians sustain their positions and, for some, regain power. It's having strong checks and balances in government. Singapore is a prime example because no one is above the law. Everyone, regardless of position, is penalized for violating any law. In the Philippines, we let them get away. Pinagbibigyan.
phililpines will remain a third world forever cause we dont have the will and we are not smart enough. dirty country, dirty cities, let alone managing the economy
The fact that the people who plundered the Philippines was able to come back is unbelievable. Our problems are self inflicted.
So true ! Just frustrating
Pignoys will always be pignoys. There's a reason why pignoys have the lowest IQ in the entire Southeast Asia.
All pignoys want in life is chismis and religion.
AMEN! weak and henpeck leader will just makes it worst.
Thats the reason why foreign investors are not coning.
@@constantinecaacbay5287LOL. The reason why investor doesn't want to invest to our country is because of economic restriction. Sino bang gustong maginvest na 40% lang sayo. Walang controlling power tapos mamumuhunan sila? Ayaw ninyo pabago ang sistema tapos isisisi ninyo sa mga pulitiko eh yun din ang sistemang ginagalawan nila. LMAO
Mr. Stephen Cuunjieng always renders excellent realistic analysis.
many thanks
I love that he didn’t jump on the band wagon of patting ourselves on the back which the interviewer was pushing him towards. He elegantly sidestepped the trap and told the hard truth. We are not the best educated workforce simply because we tend to speak English (which we always extol about ourselves). Our energy grid is subpar and expensive. Worst yet we can’t execute well. It’s more fun in the Philippines as long as you’re no investing.
One more thing; the interviewer was aggressively pushing the narrative that OFWs are heroes. No they are not. They are economic refugees we have created. And we are holding their families as hostages with weaponized poverty. We ought to creat less “heroes” in our country
@@timfleets9384 many thanks
@@timfleets9384. So true. The interviewer was very defensive. She didn’t like what she was hearing … the hard truths. Her constant interruptions with “to be fair …” was hair-pulling annoying. I totally agree with him on the 3 salient points holding Philippines back. Esp the social cost of “exporting” workers. Misguided national pride can be highly destructive.
Ethics and quality. Our leaders lack both. The "whats in it for me" culture instead of just doing a good job. @sc ive learned so much from you, thank you for not being a snob and allow us to learn from you.
Many thanks
phililpines will remain a third world forever cause we dont have the will and we are not smart enough. dirty country, dirty cities, let alone managing the economy
This man is spitting and spewing hard and painful truths. 👍
Many thanks
and the interviewer seems to be annoyed by it.
It's disheartening to see that little progress has been made in lowering electricity and power costs in the Philippines, despite its significant impact on the manufacturing sector. This crucial issue deserves urgent attention from policymakers. If left unaddressed, the country may continue to struggle in attracting foreign investment and fostering economic growth. Decisive actions must be taken to tackle this obstacle and create a more conducive environment for businesses to thrive.
phililpines will remain a third world forever cause we dont have the will and we are not smart enough. dirty country, dirty cities, let alone managing the economy
NGCP owned by chinese
Tanong mo sa dilawan yan. Kung may utang ang ph bakit binenta ni cory sa mga kamag anak nya ang meralco. Kasama sa shareholders mga dilawan at si len len kaya against na against sa pag papababa ng kuryente gaya ng nuclear pp
Actually, the cost isn't the biggest challenge. But, the reliability is a MAJOR detractor. In most businesses, brownouts equal lost income.
The cost of electricity will be higher if it is owned by the Filipinos!
profound insights on the Philippine economy, grasping challenges, opportunities, policies, and future potential. Balanced, articulate, and impactful analysis. Admirable expertise! 🌟🇵🇭
Many thanks
What he says is just a brute fact, and it is very, very saddening. Truth just hurts, but we cannot just dismiss him of what he says without being nagged at the back of our heads, telling us always that what he says is true and nothing but true. We may have all the reasons to complain and blame, but at the end of the day, what the investors are looking for are results and not new policies. Looking at Cathy, I just felt pity on myself. She tries to see things differently on the possibly good part of the other side of every situation, but it turns out that Stephen is more than prepared to rebut. After all, I don’t think he has lost his hopes for the Philippines (for sure he has this big heart for his countrymen), but that there are just these things that cannot be sugar-coated. Telling them frankly is just the best thing to do.
Many thanks
Listening to smart people is a real joy.
Many thanks
Everytime I see an interview with Mr. Cuunjieng, I make sure to watch and pay attention with. While I admittedly do not comprehend 100% of them due to jargons, etc., what I get to understand, I find them informative and truthful.
Deeply appreciated
Tried to send my sister in Germany a few hundred Euros from Philippine Bank Of Commerce. Bank declined, unless I can provide proof of transaction purpose, i.e. her bills. As if that information is useful for the banks or regulators AT ALL. If investors have to deal with similar nightmares, they go elsewhere.
One news PH has given Professor Cuunjieng more time to explain difficult economics and financial matters. Let the government apply the ideas of Professor Cuunjieng for our prosperity. Yes the state officials and employees are mostly incompetent, and the Civil Service Commission harass low level employees and uphold the incompetence of higher officials - even the CSC is itself INCOMPETENT. This government should first upgrade the CIVIL SERVICE LAWS to address competency.
Many thanks but just an investment banker not a brainy academic!
Not happening. PINOY Ego alone is there to stop it. They want changes but when they are changes there are alway Pinoys who don't want to follow them.
I just wished Mr Cuunjieng will write a book about his insights and guides to be prudent. Authors and speakers nowadays, uses terminologies that are acceptable for a day, but Mr. Cuunjieng is different as him being "Pessimistic", drives the listeners to reflect on what really went wrong and think about having effective executions over disgusing on always building strategies that is bound to not be happening. Thanking him for being a teacher of doing the RIGHT thing than participating on Ridiculous debates.
deeply appreciated
Power Generation, Water Supply, Metals Production (Steel and Aluminum Alloys). Get these big three secured, your manufacturing will diversify and accelerate infrastructure and other technological projects in the country (agriculture modernization included). This is the basic idea Cuunjieng is talking about -- should be fairly straightforward but the government seems to be blind to this for decades now...ewan na lang.
Many thanks
Not just blind but deaf mute also.
i admire mr. stephen's "brutal" yet sincere honesty. kailangan talaga ng may magpo-point-out sa problema natin, kailangan marinig ng mga pilipino. i hope i'll be successful as you someday more powers sir and mabuhay po kayo!!!
Many thanks
Ds man s agents /ambassador of Vietnam. Not deserved 2 b n d Phillipines.
@@franciscoverra2307 I watched his interview last year... what his advices is very different from what happenning rights now...now geopolitics have a big impact to economy..
All are true.100% agree ako sa sinabi.The Govt Doesnt get until now that a low cost electricity and power generation will increase the production.No charade of the flowering but says real thing.
many thanks
That's the kind of person that is firmly grounded on values and principle. Great interview!
The Philippines should allow expert foreign workers/professors/mentors. E.g., the number one university in the Philippines isn't even ranked in the top 1000 in the world. Best practices in business, law, construction, agriculture, manufacturing, are not utilized here
I met some business owners from Vancouver to Ontario and Florida. Their reason for going to America is not having no opportunity but because of the unfairness and instability of doing business in the Philippines. Hope we can fix that.🙏🇵🇭
Contractors for LGU projects are INVESTORS in their own humble way. As a former LGU employee, I know that the poor contractor has to spare a percentage for each of the initials and signatures that appear on the disbursement voucher, check, and supporting reports and certifications. This is how local investors are treated.
I always love listening to his insights, and I’m glad that he broached the topic of the social costs behind working overseas. With so many politicians mouthing platitudes, it’s refreshing to hear pragmatic thoughts.
Many thanks
Most honest Filipino. Best interview!
Many thanks
Sir Stephen, I truly admire you Sir. If there’ll be an opportunity to learn from you sir I would love to! I always listen to your interviews wherever your name pops up in YT. I’m an ofw sir for more than 10 yrs and counting but I would love to settle in our country enjoying the benefits of my hard work and be with my family in future. I love our country. There’s really no other place like home. I hope one day going out of the country is a choice and not a last resort for us to survive. I hope a good leader will be elected and the the filipino people will elect the proper person to lead us.
Deeply appreciated
He should be a government advisor because many politicians are just plain clueless why investors don’t come to the Philippines and why our our education is not matching up to industry needs. He knows what the country needs and should advising our politicians on how to manage and execute programs. They think just giving money will solve everything. They don’t have clear goals on how to improve the government processes and no target when to change these inefficiencies
many thanks
Do you think the likes of Robin Padilla would be able to comprehend what Mr. Cuunjeng is saying? We deserve the clueless leaders we have. They were elect3d by Filipinos. Democracy is a burden in a country like the Philippines.
@@alexvtan , Unfortunately, democracy is not the problem. It is a management problem.
@@markrogerobrince2654 Democracy is a problem when you have a largely "illiterate " electorate havin a lot of say in the poliical future of the Philippinex. How do you explain the Pacquiao or Robin Padilla winning a seat in the Senate.
I don't have a business degree and I am generally just ok with handling money. This person did a good job explaining it in layman's terms.
Thanks
This is so true, until the Philippines has a sustainable energy - foreign investors will not come.
Thanks
many thanks for inviting me
The top tier workforce of the Philippines are outside of the country making their host countries rich. Also the process of starting a company in the Philippines owned by foreigners is cumbersome. In Vietnam you just need to grease the right wheels, unlike in the Philippines where every single department are expecting something extra for doing their jobs.
I think one of the main reasons is phillipines considered as logistically nightmare. It's far from mainland Asia, so it's costly to ship goods and takes time.
Vietnam easily export the product to neighboring countries via land, its cheaper. So Investor see Vietnam is strategic as Asian hub.
@@sekar9901hindi lang yan nasa mindset kasi yan. Ang mga Vietnamese parang Chinese sila, business minded and sobrang sipag talaga nila. Mas masipag pa nga ata ang mga Vietnamese kesa sa mga Filipinos. Mga Filipinos kasi mahirapan lang sa isang subject or bumagsak lang, mag drop na ng school tapos mag-aasawa na hindi man lang nakatulong sa ekonomiya
@@abrqzx medyo mas may sala pa rin sa akin yung original comment. naalala ko yung mga awards na binibigay ng gobyerno sa mga bureaucrats for doing the bare minimum. Ganun din sila sa mga investors hingi ng abono for every step kahit expected sa kanila
@@JohnM-ch4to Vietnamese people are educated kasi either in Vocational or Academic kaya mabilis mag grow GDP nila. Dito kasi sa Pinas, laganap pa rin katamaran ng mga tao. Katulad ng sinabi ko, madaling sumuko ang mga Filipino even in small things like dropping out of school because nahirapan sa subjects like Math, Science, or English tapos diretso asawa na. Also, hindi rin kasi business minded mga Filipino, consumerism ang mga tao like gastos ng gastos hindi nag iinvest kaya as a result, ang cycle ng poverty never ends.
@@abrqzx put it in perspective din na underpaid yung teachers, lack of funding in proper facilities, and lack of a good school environment for kids. 60 teachers to one student, sa covered courts yung classrooms, magaganahan ka bang matuto kung ganun? Pano kung gutom ka? makakapag aral ka pa rin ba? Vocational education should help. May TESDA pero walang improvement, no direct transition to employment. Sinisimplify mo katamaran nang Pinoy at oo tamad sila pero kung hindi mo iintindihin sitwasyon nila, hindi mo nakikita na wala silang suporta.
Always nice to hear Stevienomics.
Many thanks
Much respect to Stephen Cuunjieng. Ethics, quality and competence. Got it
Many thanks
I had a good friend, who worked for a German firm that did the sewing for T shirts of a popular international sports brand. The fabric would be cut abroad, shipped here, sewn together, then re-shipped back abroad. Talk about taking advantage of cheap labor.
So, initially, the business was profitable.
Then the congressman showed up.
Then the governor showed his perfect smile.
The mayor came next; all of them showing an open palm.
THe German enterprenour swallowed all these.
But he gave up when even the barangay captain wanted to squeeze something out of him.
Ganyan mga buwaya sa pinas😢😢😢
Thanks for uploading this kind of conversation. Always learning from Stevie. Keep it up. :)
many thanks
Phillipines agriculture was neglected 4 so many years and we are experiencing 20 or more typhoons per year, and making it better is not a magic it needs years continues exert efforts to improved.
I think everybody knows that it was neglected so the question now is - what now? How?
Exactly.
The Gov't would rather prioriize real estate business than agriculture because the real estate investors gives them commission of course. Our gov't is lazy. Only wants easy money and not hard earned money , as it is difficult to manage agricultural land and that is why the government wants other agricultural land to be converted into real estate businesses.
I'm a CARP beneficiary of 2.80 hectar ricefarm awarded 9 years ago but my profit is not good, having delinquency on my Landbank obligation.. these were the reasons in my experience: 1.) high cost of farm inputs.. 2.) palay price always low.. 3.) typhoons and droughts is very devastating.. 4.) lack of available reliable technology.. 5.) govt. subsidies, supports and programs dont have major impact.. 6.) labor force becoming scarce because much of the new generation dont want there celphone stained with mud.. 😢 I'm an agronomist by profession and is currently working in a sugarmill for 29 yrs. as a crop inspector but my credential does not give much farming improvements.. it is directly caused by this 6 basic issues mentioned.. one obvious example of poor govt. agricultural program is our mountainous town is just 40 km away from the La Granja new cane variety breeding station producing hundreds of 2000 series of new varieties... but 70% of canefarms in our town were still planting 1980's old varieties because new ones is very expensive, likewise less or no much effort for govt. authorities that introduces or bring this new varieties doorstep to rural farmers eventhough its just few kilometers away from the breeding station... more and more farmlands now rapidly converted into residential or commercial..😮
you could build dams
or something canals or ponds look like in india
you could watch them in water foundation projects
This kind of people is the reason why our beloved country still have hope. God bless you sir and thank you so much for sharing your wisdom. Much appreciated, really. Mabuhay po kayo.❤️🙏😊
Salamat!
I actually would agree with the comprehension. Though Filipinos strive to be the best, but we lack of seeing which area we should improve.
Thanks
You are very smart! I just stumbled on your channel and I have now subscribed. Thnks you for sharing your knowledge for free. Do you thnk it is better to rent or own a home? Thanks. I'd like to thnk there are others like us. Just turned 58
Many thanks
@Gaurnjl this is huge! would love to grow my reserve regardless of the economy situation, my 401k has lost everything accrued since early 2019, at this point, i'm in need of guidance, can you point me?
I don't see BoC dropping rates even if inflation get's to it's 2% target's or even lower, when BoC did pause home buyer jump into the market faster then supply could keep up making home not only rise but jump in price and bidding, also keeping rates high let's banks and lenders have very high profits do to many home owner paying interest only mortgage payments and adding to they balance for years to come
@GaurnjlGreat actually. I am one of many private clients under KAYLA TABITHA RODRIGUES, with private invsting I made over 500 grand, 200 is ready to redeploy back into the equity and money mrkts in the ratio as rebalanced by Kayla. You are welcome.
Thanks for the share! copied and pasted full name on my browser, effortlessly found her, very professional. I got some feedback hope to speak on the phone soon.
Oh boy glad this interview is longer Sir Stephen. More insights coming from you. Hope the "powers" in our government would just listen. And I like the bluntness, we needed that to wake up to our slumber....😢
Deeply appreciated
Reality truly hurts. Thanks for your honestly and eloquence. You're definitely the Jordan Peterson of economics and finance.
Thanks
ooof. is that a compliment? Let Stevie be Stevie!!
@@pushslice Agree, no doubt it's a compliment.
Grounded advise by this man. I love listening to him even in anc. Very realistic.
Many thanks
agree. Thanks also to Ms. Cathy for not tearing up during Sir Stevie’s heavy and honest dose of brutal reality for a longer length of time than in ANC. I learned a lot Sir Stevie. Thank you!
@@joeyarcher3263 many thanks
A simple answer to chronic importation is corruption. It a whole symphony of choreography to materialize the end effect of maximizing commission in every importation permit issued at first to corroboration behind the scene to capture industries that in need of the same.
he is very inspirational, and has a lot of wisdom.
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This is the type of people we should put in government. You can hear the pain from his voice of what the Philippines has become, wanting to do something about it but acknowledges the daunting task ahead.
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*19:00* comprehension
*21:21* execution
*30:00* everybody wants to go 🙋
My heart wants to be patriotic but these truths are just so on point. The problems being discussed when I was 7 are still the same ones 20+ years after. 😢
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Look what kind of situation we are in right now? Who's the ruling family? It looks like we went back from the past repeating the same mistakes again by putting the corrupt people in power. Same people, same problems. It's like trying the same solution and expecting different results.
Sarap ng starbucks habang nagsasabi hirap ng buhay. 😂
@@ryanvincent6519 prime example of poor comprehension. Tungkol po ito sa investment sa Pilipinas at ang kagustuhan ng marami na umalis nabanggit sa 30:00 mark dahil mas may pag-asa umunlad sa ibang bansa.
He nails it. High cost of electricity, poor workforce and top to bottom corruption. Were going nowhere.
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Poor work force.buong mundo sa Pilipinas kumukuha ng laborer.
Absolutely on point mr stephen. Its not only corruption, its also the people and their education. If even big 3 univ are beaten by 2nd tier colleges in vietnam, how much more to those who are graduates not from big 3 - which is probably >90% of all graduates.
I have a theory: I fully agree that bsp is the best govt agency in PH, not even close to others. If bsp is as corrupt as all other agencies, I am 1000% sure PHP would suffer the same fate as Arg peso, turkish lira. Which makes me think: Do you think elected officials know this fact and makes sure no corruption happens inside BSP -- so that PHP will stay afloat AND they can continue their corruption? Because a worthless PHP makes a worthless corruption and they would all lose their income. Just something to think about.🤔🤔
Really hope agriculture here will be modernised and sustainable
The closing remarks are really important.
Quality and Ethics really go along the way.
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Really hope not. I want local farmers to starve. 😀
@@alice_agogo they probably share the same opinion of you. I don’t know you or your circumstances but I don’t see any reason for such mean spiritedness
@@alice_agogo wow what a troll
@@TheWatcher1009 trolls are better at growing food than our farmers 😁
Ms Cathy pls. Continue guesting people like Cuunjieng, very informative and educational.
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Very educational and admirable discussion. Thanks.
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If I am the President, I will appoint Mr Cuunjieng in NEDA.
Alas I don’t think my personality fits government work
and let his reputation be destroyed by being scapegoated by elected officials or by ridicule of the anti-intellectual masses. The Philippines is no place for competent people in government.
@@uncommon_name9337 there is that too
It doesn't matter what government..it is EXECUTION and PROFESSIONALISM BACKED BY EXCELLENT EDUCATION.
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@@scuunjiengim an ofw who works in Singapore and I lament that the Philippines sell its people cheap! We are not cheap..we are capable as any competitive Asian.
A strong management dictates how a local workforce performs. Filipinos are high performing individuals can compete internationally. I worked in the Philippines as an IT/programmer for 5 solid years and now I'm working in the US for almost 2 decades with different cultures and nationalities. Considering I'm an average programmer but because my Filipino culture never give up and work hard mentally, I'm still competitive and performing well as per my manager's recent evaluation.
But by recent assessment our new graduates and workers are lacking in skills, knowledge and comprehension. Our education system needs an upgrade. I think our big population is unmanageable.
Like what was mentioned in the intervirew. Yes there are successes and success stories but we have to consider the ratio, how many people are up and how many are down. Your success was because of your mindset and your hard work, give yourself credit for this. :) great job.
Not applicable in manufacturing of products. Try manufacturing in small scale in Philippines and you will experience so many obstacles like corruption from govt top to bottom especially if you are a foreigner.
@@KO-jl3mgMany Filipinos are successful when it comes to IT/Computer Science careers. In fact the Philippines is second to India when it comes to software development outsourcing.
One of the problem that the IT Professionals have in the Philippines was the countless useless and unrelated subjects that we have studied at University. As a System Analyst who graduated BS Information Technology, majority of the subjects I studied are pretty much useless. There are only 2 subjects that was somewhat useful to my career.
Education system really sucks in the Philippines
really like the way sir stephen put things in perspective, there is a certain honesty about it that makes you realize we can be better or do better
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PLDT is the hallmark of what is wrong with the PH business environment. Poor management of it's assets and lack of core service improvements has denied the PH of massive foreign investment and interest for decades. RELIABLE electrical and telecomunications grids are the absolute backbone in today's mfg environment. Insert nepotism, cronyism and a terrific marketing company and you get PLDT. Lots of colorful promises and subpar performance at best.
You nailed it, these mega companies are ove of the reasons why we don’t have investors coming in my opinion.
His points are really good. Want to listen to him more!
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The best among the few Filipinos. Keep spreading you wisdom. Thanks @scuunjieng !
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More power to Mr. Cuunjieng! Even I am not as fluent and knowledgable in the business world, I enjoyed this interview so much. It was all well-explained and delivered! Thank you so much for all the wise observations and straight to the point opinions!☺️👊
Deeply appreciated
Thanks to candid observations of the resource speaker as thats is part of the reason/s why foreign investors did not choose Philippines as they are not sure likewise of the procedures and peace and order
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I know no sh!/t about business but I love listening to Stephen Cuunjieng. There is so much practicality and wisdom in his talks.
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Great discussion. This is what is also evident in the region. Our employment cost are also expensive, not just power.
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Thank you Sir Cuunjieng
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I agree. Sana iconvert sa tagalog yung conversation and sana maipalabas sa mainstream primetime tv... 😞
Yung Tagalog ang maging mode instruction para umangat ang quality education, is only partially right.
There are many reasons why Fillipinos are DUMBER than other countries.
1.) Culture - Pinoys are slackers, rarely starts on time, and loves tsimiss.
Most classes, mas interested pa ang mga students and TEACHERS talking about entertainment than on main subjects.
A lot of stuff is wasted in this culture ng mga Pinoy na mahilig sa Tsismiss/Entertainment.
Pinoys make fun on those who study hard, but praise more those who do well in sports or who sings or dances (basically entertainment)
THINK of a time na sa isang klase walang LONG talk about love, crushes, and Joking around etc. Again they do it in class. Most of the time meron
And so much more na Pinoy culture --crab mentality, inggitin, social climber...andami.
We even make fun of people who speaks english due to accent, grammar etc. instead of just let people speak and practice.
Sa ibang bansa they look down on people who are not good in their academics or who are clowns in class...sa Pinas, baliktad.
Kaya Pinoys are generally DUMBER .
It would take cguro 50 years for the Philippines to be in par with smarter countries.
Kasi what makes Pinoys dumb is the culture.
2.) Pinoys are undernoursihed--- If you look at what most Pinoys eat, it;s mostly street food, and fried foods that is KUNG meron man silang makain.
3.) Government
Nah. Ano sila batang susubuan pa?
@@alice_agogopara magising ang Pilipino sa katotohanan na bulok ang sistema
this guy is so honest and really understand economics what he is telling is painfull but enlightening
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There's always something to learn whenever I watch his interviews.
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Thank you Mr Cuunjieng for the brutal but honest truths. I am heartened from reading the comments here that there are people who share these insights. Sadly, there are still many, many more who have allowed themselves to be deluded by misdirected or self-serving misinformation from certain powerful sources. Philippines can be great if the real internal issues are tackled and not fabrications of bloated external threats.
Deeply appreciated
Campaign against the political dynasties, best thing you can do.
When the company of my husband wanted to move their company away China. Philippines were not included with the shortlists of countries.
Better not😂
Thank you Sir @scuunjieng for imparting your wisdom and hard truths about PH.
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I learned a lot from this video, thank you.
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Excellent interview 👍👏 💯🌹 to Ms. Cathy Y. and Mr. Stephen C.🤝😊..
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CORRUPTION ANYWHERE IS A CONTRIBUTING FACTOR ...
Our problem is our own creation, we dont know how to select good people to guide us.
100% agree ! Sad state of PH economy.
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Pres Marcos should watch this, instead of flying all over the world begging for investment pledges. It's similar to our problem with tourism; we focus too much on promoting when our product isn't that good. Let's fix our country internally first, making it clean, orderly and more efficient and sooner or later the word will come out that the Philippines is a good place for tourism and business.
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It pain me to hear from someone who is a well known investment banker that Philippines is not a good place to invest or not investable . Lack of infrastructure is one of the other cause and I hope the Marcos administration will help.
LOLZ the 1st year of BBM is an indication of how he will "fix" the problems
marcos... wala nga nilatah na plano nung eleksyon. sus
naumpisahan na ni Digong yung massive investment sa Infra at itinutuloy lang ni BBM sana hanggang next President matuloy pa kc napag iwanan na talaga tayo ng mga karatig bansa
He is too busy getting into bed with the US to focus on the real problems plaguing Philippines.
I agree with Sir. Govt needs this kind of people to guide our country against poverty.
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Deserve Sir.
Philippine policy makers listen to this interview.
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Aside from everything already mentioned, Filipinos have the culture or habit of making a process more difficult than it should be. Too many unnecessary steps just to do one thing and its reflected in whatever transaction you need to make whether in banks, hospitals, government institutions etc. If I were an investor Philippines would be the last place I'd put my money in.
Thank you for your knowledge, Sir Stephen!
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At least Mr. Stephen is straightforward.....how many decades have we been harping progress. But investments have been so scarce. Infra, Power, Roads....etc...still in progress and keeps changing with every administration....hay Buhay...
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@@scuunjieng Thank you po....sana i can send emails din...
This are our problem for so long. Corrupt officials laging gusto may lagay bir, customs halos lahat.
Cuunjeng, you have lots of insights. How can you help the Philippines without being negative and down on the Philippines. Comparing India and the Philippines… Hmmm… not a good comparison but I like what you said about Vietnam’s agriculture as cooperatives. Must do that in Philippines.
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The real SONA.
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Am a big fan of Stephen Cu-unjieng. He mentioned effective coop at 27:30. I, as an ex-sugar planter, an effective coop? That I gotta see. Filipino farmers cooperating? That i gotta see. At any rate small farms will only be viable if infrastructure is present and credit facilities availabe.
Stevie is always the best interview. I admire this guy. and I don't admire easily. except for my dad who was a Dewitt fellow in University of Michigan Law.
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I was a senior chemical engineer in a textile company , we used to manufacture all kind of textile , from knitted fabric to denims textile , (levis ) due to high cost of production , [ tax , electricity , tax on machineries and raw material such as dyes , raw cotton ) most textile manufacturer close thier factory , we can not compete with India , Vietnam and other countries , thier production cost is very much lower compare to the Phil. Our worker are skill thats why other countries hire our worker and give them higher salary but still thiet production cost is still lower compare to us