‘Out of sight, out of mind’

“Out of sight, out of mind” is clearly what happened to Mary Jane Veloso, the Filipina OFW who landed in jail in Indonesia after being made an unwitting drug mule, nearly was shot or beheaded, was repatriated to the Philippines and is languishing in jail.

Mary Jane Veloso has much to be thankful for that she remains alive, but being in jail for a crime you did not commit does not make life easier or any better. She recently wrote an “open letter” asking to be freed, given the strong circumstance that suggests her innocence and for humanitarian considerations.

In response, the Malacañang spokesperson replied: “It would have been better if her letter was personally or directly transmitted to the President, so that a proper decision could be made regarding the matter.”

FYI: Mary Jane Veloso is a PRISONER, a PERSON DENIED LIBERTY, a DETAINEE. She is not a privileged member of society with high priced lawyers, not a NEPOBABY, or someone with political connections.

Perhaps, Malacañang or Executive Secretary Ralph Recto should engage researchers to study what the actual success rate is for letters addressed to the President, actually reaching PBBM and him reading it.

I fully support Mary Jane Veloso writing an open letter because now, even the media is paying attention. If the government and the DOJ could release the late Juan Ponce Enrile for humanitarian reasons, then why not Mary Jane Veloso?

She has suffered enough!

*      *      *

What’s worse than being robbed of billions of pesos in none existent infrastructure projects? You might answer: the possibility of no big fish being charged and jailed. But what about people who are minding their own business and ending up as collateral damage?

Ever since the ghost flood control projects blew up in public, I have heard warnings of how it would all impact the economy. The first hint was when the construction sector turned as cold as our February weather because the government momentarily froze government projects.

Then experts started talking about how many businesses have “slowed down,” delayed further expansions because of political uncertainty and its domino effect. The major cutback or freeze in DPWH projects resulted in unemployment, which alarmed people who cut back on their expenditures.

The public scrutiny of elected officials and their lifestyle caused a serious cutback in lavish spending, alongside pet projects intended for political perpetuity or re-election.

The reality is, every place with an elected official felt the financial cut and its economic consequence. That is how big and how much money was going to the wrong people!

Last week, I learned from an industry player that even foreign investors or lending institutions who once thought that it was time to put serious money into the Philippines have grown cold and more restrained in what they want to do in the country.

I was told that a year ago, a group of international investors were fired up studying market data, economic growth and revenue projections for construction and infrastructure development nationwide.

They were planning to invest in an industry that was part of the supply chain for construction and development of the entire Philippines. As a result, I barely saw my friend who apologetically confessed that he spent more time in board rooms, banks and zoom than his own bedroom.

But when the full extent and damage of the ghost projects and government corruption became public, the investors slowly turned cold and seemingly disinterested to engage as hurriedly as they did before the ghost projects scandal.

From wanting to wrap things up in a year or by now a few months, the investors have effectively paused matters, have been working on a revised schedule of investment engagement and mysteriously want to implement over the next three years instead of one.

The sudden hesitation of the investors, which I’ve heard is now the norm in many industries and projects in the Philippines, is understandable.

Things are bad enough with everybody trying to impeach everybody while the country engages in a territorial dispute with a superpower like China.

But when billions of pesos are stolen by government officials, what’s to stop others from stealing or not acknowledging multimillion-dollar loans and investments? What guarantee of repayment or profit share can investors get from a “failed economy?”

The level of corruption in any given country directly influences not only investor confidence but also affects the cost of money and cost of interest and “insurance” against any political destabilization.

So, the more political complications, the less interesting the Philippines becomes compared to our neighbors that are proven stable investment zones.

Going from a “one-year rush” down to a “three-year slow dance” is clearly meant to protect investors’ interests. But what’s significant about the number three? It has nothing to do with Chinese numerology or feng shui but politics.

The three-year slow dance approximately covers the remaining years of the Marcos Jr. administration, plus a few months more to assess if the country can rise from the ashes or continue to burn if Marcos relatives or cronies continue in power.

This sentiment and strategy is the current view of businessmen who have become collateral damage to the corruption scandals as well as the administration’s misdirection and mishandling of the economy.

I have on at least two, if not three occasions heard veteran businessmen say that they will simply sit out the remaining years of PBBM, wait and see if they stay or invest elsewhere. As for my friend, they have decided to go solo because, unlike foreign investors, they are stuck in the Philippines.

*      *      *

Email: [email protected]