MANILA, Philippines – Once dubbed the sick man of Asia, the Philippines is out to prove, slowly but surely, that it can compete on the world stage. Look back with INQUIRER.net at the various milestones–economic and cultural–the country achieved in 2014.
This last #InquirerSeven listicle remembers the seven Most Vital Signs of Stronger Prospects of 2014.
Read the Inquirer #BestOfSeven 2014 Year-ender special.
1. HIGHEST PH CREDIT RATINGS
(INQUIRER PHOTO)
The Philippine economy complemented its steady growth in gross domestic product with the highest credit ratings in its history: a “BBB” investment grade by Standard & Poor on May 8 and a “BAA2” investment grade by Moody’s Investor Service on Dec. 11.
REFRESH YOUR MEMORY:
- PH credit rating upgraded
- Moody’s upgrades PH credit rating to BAA2 or 2 notches above ‘junk’ status
2. US FAA UPGRADES PH CARRIERS
(INQUIRER PHOTO)
Philippine Airlines and Cebu Pacific are now able to expand direct routes to the United States after the US Federal Aviation Administration upgraded the Philippines to Category 1, based on compliance with international aviation standards.
REFRESH YOUR MEMORY:
- FAA upgrades PH aviation security rating
- Cebu Pacific gets nod to fly to US
- Boeing eyes sale of more planes in PH
3. INTERNATIONAL BRANDS OPEN IN MANILA
(INQUIRER PHOTO)
World-famous brands that have already set up shop in the Philippines include the cheapest Michelin-star restaurant Tim Ho Wan and Swedish fashion giant H&M. Their launch drew thousands of hungry patrons and fashionistas.
REFRESH YOUR MEMORY:
- Michelin-starred dim sum restaurant draws diners for its buns, dumplings and rolls
- Teenagers camped out, but no catfights at unprecedented H&M grand opening
4. PH LEADS CLIMATE CHANGE ADVOCACY
(AP PHOTO)
The United Nations hailed the Philippines for its largely successful Typhoon “Ruby” preparations. A climate envoy staged a 1,000-kilometer “Climate Walk” from Manila to Tacloban in commemoration of Yolanda’s anniversary, while in Lima, Peru, the Philippines became a key player in the debates on climate change.
REFRESH YOUR MEMORY:
5. WORLD’S BIGGEST SOLAR-POWERED MALL
(INQUIRER PHOTO)
SM North Edsa became the world’s biggest solar-powered mall on Nov. 24 when it began using 5,760 solar panels to supply 1.5 megawatts of electricity. Solar Philippines, headed by Leandro Leviste, is also the company behind the 700-kW Central Mall Biñan solar project launched two months earlier.
REFRESH YOUR MEMORY:
6. PALAWAN, VIGAN GAIN WORLD RECOGNITION
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Conde Nast Traveler magazine named Palawan the “top island of the world” while Vigan City, Ilocos Sur was proclaimed one of the “New7Wonders Cities of the World.” Things are looking bright for the country in 2015, which has been dubbed as “Visit the Philippines Year” by the Department of Tourism.
REFRESH YOUR MEMORY:
7. EUROPE CUTS TARIFFS ON PH EXPORTS TO ZERO
(INQUIRER PHOTO)
A December 18 decision by the European Parliament to remove tariffs on over 6,200 products from the Philippines is expected to result in a P38-billion windfall for the country next year. According to the EU ambassador, the move “significantly improves the attractiveness of the Philippines as a destination for new agricultural and manufacturing facilities.”
REFRESH YOUR MEMORY:
- EU cuts tariffs on key PH exports to zero
- Philippines may get zero duty for selected exports to EU
- EU moves to enhance relations with Asean