Recent analysis suggesting a possible entry of the country into upper-middle income status within the next few years is a good thing that we should look forward to. Already, it has spawned discussions on comparisons with other countries in the same race for upper- middle income status. I believe that achieving such a status will demand our adherence to a long-term vision such as Ambisyon Natin 2040, formulated in 2015 by the then National Economic Development Authority (now the Department of Planning and Development). This ought to be the guiding framework under which our efforts to achieve upper-middle income status should be pushed.

For emphasis, let me reprise my Sept. 15, 2024 column on the plan: “It is clear that Ambisyon Natin 2040 also serves to guide the formulation of policies, legislation, and development plans for 25 years after its inception. I, therefore, believe that this should also be the banner under which we in the regions can formulate proposed policies and plans for our local economies and measure their effectiveness and attainment.

Almost a decade since the vision was articulated, we have faced and will continue to face many challenges that threaten to undermine our efforts to fulfill the vision. As we face these uncertainties, it would be fruitful to reflect on our long-term visions. These will enable us to calibrate our responses to current situations, and maybe even capitalize on opportunities to move our economies forward. “With this, I reiterate that Ambisyon Natin 2040 should be the umbrella under which government economic programs and legislation should be formed.

This is vital considering the different global economic challenges we are facing, from US tariff increases to conflicts in many parts of the world that can weaken the appetite for investments. Having a long-term set of goals makes the journey to achieving them more organized.

That said, government spending in vital areas such as important infrastructure can prime economic growth since these stimulate investment, tourism, and trade activities, as well as lower inflation. This will help sustain the growth over time. To illustrate by an example, allotting ₱10 billion of taxpayer money to construct a vital bridge project generates not only temporary construction jobs, but once the project is launched, new investments and spending activities will create more jobs over time.

Another is attracting investments that build on long-term growth. These include energy, tourism, manufacturing, sustainable forestry, as well as mineral and food processing. Facilitating investment in such sectors capitalizes on our natural endowments such as wonderful natural and cultural tourism attractions, minerals, and our capability to grow vital crops. Note that many of these investments can and should be built in the countryside, to benefit local residents and keep operating cost down to enable enterprises to be competitive. Adding value is the existing staff which will expand to sustaining growth in the long term, creating not only jobs, but careers upon which a new generation will be built.

Allow me to greet the University of the Philippines Mindanao as it celebrates 30 years of service to the community. I am sure that the coming decades will bear more fruit in terms of research, academic excellence and service.