Dubai: Filipinos celebrated the 115th Philippine Independence Day here marked by renewed confidence in their resurgent economy and greater trade relations with the UAE.
In this speech during the diplomatic reception on Wednesday, Frank Cimafranca, the Philippine Consul General to Dubai, said: “The Philippines and the UAE enjoy very cordial relations characterised by mutual support and cooperation.”
Direct flights between the UAE and the Philippines will get a boost later this year, starting with the fourth daily flight between Dubai and the Philippines operated by Emirates from October 1, to be reciprocated by daily flights by Manila-based Cebu Pacific and Philippine Airlines, also starting in October.
The Philippines was once dubbed as the perennial “Sick man of Asia”, but has become the region’s top economic performer, with its GDP growing by 7.8 per cent in the first quarter of 2013 and its sovereign debt getting invest-grade credit rating, the Consul General said.
“Our struggle for freedom continues up to this day. It is no longer a fight against foreign oppression but for our country and citizenry to be free from poverty, ignorance, corruption, criminality and injustice,” said the diplomat at the reception held at the Airport Le Meridien attended by Dr Rashid Ahmad Bin Fahd, Minister of Environment and Water.
Traditional Filipino dance troupes performed Tinikling and Singkil at the event.
Brandishing his country’s credentials, Cimafraca cited a few milestones achieved in the last three years -- improved governance and revenue collection, having Asia’s best-performing economy in the first quarter, two credit upgrades of sovereign debt and a stellar stock market performance and the signing of a framework agreement with the separatist Moro Islamic Liberation Front.
Joey Tiberio, a Filipino aviation executive, said the outlook of expatriate Filipinos is changing being consumers to investors. “Filipinos are awakening from a long slumber. Now every Kabayan I know is attending some sort of financial literacy program. There’s a general sense of optimism that things are getting better at home.”
Its English-speaking population is one of country’s biggest strengths, with 500,000 employed in call centres that bring in $15 billion annually.
The Philippine government sits on $82 billion (Dh301 billion) in international reserves and overseas Filipinos remit in excess of $20 billion back home annually.
