PGMA declares retirement industry flagship project, names Aglipay retirement czar
TUESDAY, MAY 30, 2006 | PROGRAMS/PROJECTS
President Gloria Macapagal-Arroyo declared today the retirement industry as a flagship project to bolster the government’s bid to position the Philippines as a global retirement haven.
Appointed as retirement czar was former Philippine National Police (PNP) chief, retired Gen. Edgardo Aglipay.
The President announced the government’s new thrust in the development of the retirement industry and Aglipay’s appointment at the Cabinet meeting in Malacañang this morning.
A fully developed Philippine retirement industry could create four million jobs and generate an income of $44 billion for the country by 2015, industry sources said.
Economic freedom from government involvement in everyday lives of Filipinos.
Loosen the noose of regulations in obtaining business permit in barangays, mayor's office, streamline to bare minimum requirement to start a business, reorganize inefficient immigration office, privatize the corrupt and non functioning post office...
Classic capitalism must be implemented...
He added that there will be a multiplier effect of the industry, one of which is putting an end to the "brain drain," specifically in the medical profession.
"Our doctors, nurses and caregivers could stay put in the country and work here if the retirement industry is fully developed," he said.
MD's becoming RN's to facilitate visa to the US is capitalism, filipino style. Their self interest well understood.