Sec Robredo keynotes gov’t-private sector conference

By ABRAHAM V. LLERA
November 10, 2010

DILG’s Secretary Jesse M. Robredo will keynote the 1st Gov’t-Private Sector Conference On Our Country’s Economic Prospects Under the Aquino Administration on November 18, 2010 at 2:00 PM at the Xavier Sports & Country Club in Cagayan de Oro City.

An estimated 94 mayors and 5 governors together with around 100 business leaders will come together to see how they could work together to hasten the realization of a bold Goldman Sachs prediction: that eleven more countries – in addition to the BRIC (Brazil, Russia, India, and China) will become the world’s largest economies in the 21st century. One of the countries Goldman Sachs identified is the Philippines.

The acronym was coined by Jim O’Neill of Goldman Sachs, a global investment banking and securities firm, and his team of economic researchers, in a paper called “The World Needs Better Economic BRICS.” Former Goldman Sachs employees include Robert Rubin who became Bill Clinton’s Secretary of the Treasury, and Henry Paulson, who occupied the same post under George W. Bush.

In November 2001, Goldman Sachs published its paper where it predicted that Brazil’s, Russia’s, India’s, and China’s combined economies would make the combined economies of the world’s current wealthiest countries in the world look like peanuts. In other words, Jim O’Neill and his team predicted a shift in global economic power away from the developed economies toward the developing world.

More incredibly, Goldman Sachs followed this up with another prediction about the Next Eleven (N-11) – those countries that could potentially have a BRIC-like impact in challenging the G7. Bangladesh, Egypt, Indonesia, Iran, Korea, Mexico, Nigeria, Pakistan, Turkey, Vietnam, and, hold your breath now, the Philippines!

“What are the prospects for the N-11 over the next few decades? Can the N-11 dream become a reality? What are the obstacles to success, and what would need to change to make success more likely?” asks Goldman Sachs in its paper, questions which could well be ones that should be asked of the Philippines. Conference speakers Dr. Bernardo M. Villegas and Dr. Rolando Dy will try to answer these questions during the conference.

The event is made possible with the help of BPI Family Savings Bank, United Coconut Planters Bank, Rep. Rufus B. Rodriguez (2nd District, Cagayan de Oro City), and Rep Maximo B. Rodriguez (ABAMIN). A Brown Co Inc, worked closely with the University of Asia and the Pacific to put flesh into the idea. Dr. Villegas felt strongly that the LGUs should be involved as either the government or the private sector working independently would not be as effective as both working together. Thus it was decided to seek the help of DILG R10, which readily, agreed to help. The Oro Chamber was the final group whose help was tapped.