As tensions simmer over the West Philippine Sea, a Filipino businessman of Chinese descent is unflinching about serving fellow Filipinos.
Founder of Lamoiyan Corp., the homegrown maker of Hapee toothpaste, and the current president of the Federation of Filipino Chinese Chamber of Commerce and Industry Inc. or FFCCCII, 70-year-old Dr. Cecilio Kwok Pedro, said he would die in the country that he calls home.
“We are Filipinos. We were born and grew up here. There’s no other way for us but to help the Philippines. We have Chinese blood, and the Chinese culture and tradition is to give back what you have earned. And this is what we have been doing here in the country,” said Pedro, a graduate of Ateneo de Manila University.
FFCCCII is an umbrella organization of over 170 Filipino Chinese chambers of commerce and diverse industry associations nationwide.
Its philanthropic arm, the Filipino Chinese Community Calamity Fund, made up of 11 major Filipino Chinese business, civic and cultural organizations led by FFCCCII, raises funds and distributes relief assistance for victims of calamities such as the Covid-19 pandemic, typhoons and earthquakes. It also conducts community outreach and education programs.
“We have joined the federation precisely because we want to give back and help. Why? Because we love the Philippines. This is our home where we decided to stay,” Pedro said.
Believing in Filipino resilience
Dr. Pedro believes in the importance of collaboration between the government and the private sector to make the Philippines prosper, as he fervently believes that despite the current challenges and economic headwinds, Filipinos possess the amazing and innate ability to bounce back.
“Magaling ang Pinoy (Filipinos are great). Uunlad at uunlad tayo (We will progress), provided that we will work hard for our aspirations. If we all put our best foot forward, then this country will move forward,” he said.
Dr. Pedro said the bright projections for next year will be attainable, as long as overseas Filipino workers continue to work hard and continue sending their hard-earned money to their loved ones, which eventually aid the country’s economy.
“And they continue to do that despite the global recession and pandemic, but those are nothing compared to their hard work, a positive factor that I see will maintain the good forecast for this country,” he stressed.
The Bangko Sentral ng Pilipinas earlier said that remittances from overseas Filipino workers could hit $37 billion in 2023.
FitchSolutions company BMI, on the other hand, sees the full-year gross domestic product, or GDP, to settle at 5.7 percent, with projections of growth to continue to accelerate gradually over the coming quarters on the back of a pick-up in household spending, forecasting the economy to expand by 6.2 percent in 2024.
Capital inflows grow
Aside from the OFW remittances, Pedro said foreign direct investments, or FDIs, will be a catalyst for faster growth in 2024 but added the government should continue pushing ease of doing business to attract more capital.
“The process of giving permits, most of the time, is tedious, and investors are having a hard time dealing with them. Even local investors are having a hard time. We can reduce the required permits and push for digitalization to make services seamless. If there is human intervention, delays and corruption happen,” he said.
Pedro said it is also imperative to improve relationships with neighboring countries, including China, Korea, Japan, and the United States.
“There are friendly nations out there who are willing to help, and indeed, we need their help,” he said.
Other solutions
“There are other things, such as increasing yields in the agriculture sector. Let us say if we produced 1 ton of palay this year, let us aim to produce one and a half tons next year. Let us improve our production and in doing so, prices of goods will go down. If we continue to expect donations, then the country will not progress,” he stressed.
He added the government should focus on taming inflation, and to do that, food production must be robust and well-placed, despite the inflation rate falling to 4.1 percent in November from 4.9 percent in October.
Aside from that, the FFCCCII president believes that the government should address skyrocketing energy prices in the power sector, stating that even some barangays in far-flung areas still don’t have a steady supply of electricity.
“So, what is the solution? Let us go with nuclear power, the most affordable power source. Let us explore all alternatives to generate cheaper power. Our electricity rate is one of the highest rates in the world. We can also dwell on renewables
—wind, solar, tidal — to bring down the high cost of electricity that frustrates foreign investors,” according to Pedro.
Overcoming the odds
Lamoiyan was not Pedro’s first company, as he had to close his first company, Aluminum Container Inc., after customers changed preferences, drying up the market for aluminum toothpaste tubes.
Lamoiyan used to be the supplier of Procter & Gamble, the Philippine Refining Company (now Unilever), and Colgate-Palmolive.
When their clients converted to plastic-laminated toothpaste tubes due to environmental concerns, Pedro’s company closed shop in 1986.
This was when he established Lamoiyan Corp., which sells toothpaste brands such as Hapee and Kutitap that are cheaper than the multinational brands.
With Pedro’s innate perseverance, he made the Lamoiyan Corp. brand spread like wildfire throughout Asia, including China, Vietnam and Indonesia.
“Just like the Chinese proverb, ‘Even a bar of iron can be ground to a needle with perseverance,’” Pedro shared.
Pedro is a product of Ateneo de Manila University and has a Bachelor of Science in Business Management degree.
In March 2006, he finished his Honorary Doctor of Philosophy in Technological Management at the Technological University of the Philippines.
Besides being at the helm of the FFCCCII, he is also the chairperson of the Deaf Evangelistic Alliance Foundation Inc., providing opportunities to those with hearing and speech challenges that prove his heart goes to the marginalized of society.