Chapter 8

As the discussion unfolded, with members of the cabinet delving into the intricacies of their economic development plan, a critical issue emerged: the sustainability and cost-effectiveness of importing steel for their infrastructure projects.

"It's a valid concern," remarked one cabinet member, furrowing their brow in thought. "Importing steel is not only costly, but it's also not a sustainable long-term solution for our infrastructure needs."

The room fell into a thoughtful silence as they grappled with the magnitude of the challenge before them. Suddenly, another member, a seasoned engineer with a keen eye for innovation, spoke up. "Why don't we consider building our own steel mill?" they suggested, their voice cutting through the air with conviction. "The Philippines is rich in mineral resources, and with our own steel mill, we can produce our own steel locally, reducing costs and ensuring a steady supply for our infrastructure projects."

At that moment, Ferdinand Salazar's mind raced with a sudden recollection. He remembered reading about Ferdinand Marcos Sr.'s initiative to establish the National Steel Corporation during his tenure as President. The ambitious project aimed to jumpstart the country's steel industry and reduce its dependence on imported steel.

"Yes, building our own steel mill is a brilliant idea," Salazar exclaimed, his eyes alight with determination. "Given the urgency of the situation, I believe it's imperative that we move swiftly to make this a reality."

Turning to his cabinet members, Salazar announced his decision. "By tomorrow, I will issue a Presidential Order to create a Steel Mill. Alongside this, we will establish a new department to oversee all government construction projects," he declared. "This department will be called the Department of Construction and Public Works, and it will play a pivotal role in spearheading our infrastructure development efforts."

The room erupted into a chorus of nods and murmurs of agreement as Salazar's words resonated with each member. They understood the significance of this decision and the transformative impact it would have on the country's economic landscape.

The meeting in the grand Malacañang Palace's Cabinet Room stretched well past midnight, the air thick with anticipation and determination as Ferdinand Salazar and his cabinet members hashed out the details of their ambitious economic development plan. Around the polished mahogany table, discussions ebbed and flowed, ideas mingling with calculations and projections as they charted a course for the nation's future.

As the hours ticked by, it became increasingly clear to the members of the cabinet that the scale of their economic ambitions would require a substantial investment of resources. "We need to double our current GDP to sustain the scale of these projects," remarked one member, their voice carrying a note of urgency. "That means we'll need more than $13.5 billion in funding."

Salazar nodded gravely, his mind already racing with calculations and strategies to secure the necessary financing. "Indeed, the scale of our vision demands a significant investment," he agreed. "But with the right approach and partnerships, I am confident that we can secure the resources needed to realize our goals."

A hush fell over the room as Salazar outlined the timeline for their economic development plan. "We have six years—my entire term as President—to turn our vision into reality," he declared. "We must move swiftly and decisively to implement our projects and initiatives, ensuring that we make the most of our time and resources."

The cabinet members exchanged determined glances, their resolve strengthened by the magnitude of the task ahead. With a collective sense of purpose, they set to work, delving into the intricate details of their economic development plan.

One of the first orders of business was to assess the country's current economic standing. "Our GDP last year was $6.52 billion," Salazar informed the group, drawing their attention to the figures before him. "And with the exchange rate of 2 PHP to 1 USD, we must leverage our economic potential to secure the funding needed for our projects."

With a clear understanding of their economic baseline, the cabinet members turned their attention to securing financing for their ambitious initiatives. The Department of Finance was tasked with reaching out to key partners, including the United States, the World Bank, Japan, and local creditors, to explore options for loans, assistance, and aid.

"The Department of Agriculture will play a crucial role in our economic development strategy," Salazar continued, shifting the focus to another key aspect of their plan. "We must address land inequality, promote rural development, and improve agricultural productivity to sustain our food production and export agricultural products."

The members of the cabinet nodded in agreement, recognizing the importance of agricultural reform in driving economic growth and ensuring food security for the nation. With a renewed commitment to supporting smallholder farmers and investing in agricultural infrastructure, they set their sights on harnessing the full potential of the country's agricultural sector.

As discussions continued into the early hours of the morning, consensus emerged on the importance of industrialization and infrastructure development in driving economic growth. "We must prioritize these initiatives to create jobs, boost productivity, and stimulate innovation," Salazar emphasized, his voice ringing with conviction.

With the foundation of their economic development plan firmly established, Salazar turned his attention to the broader goals of their administration. "We must boost our economy first and foremost," he declared, his gaze sweeping across the room. "Each department must identify ways to support the people and drive economic growth, sending proposals to contribute to our overarching economic development program."

With that, the meeting drew to a close, the members of the cabinet departing with a renewed sense of purpose and determination. As they stepped out into the cool night air, they knew that the road ahead would be challenging, but they were ready to face it together, united in their commitment to building a stronger, more prosperous Philippines for all. And as they embarked on this journey, they did so with the unwavering belief that with determination, dedication, and collaboration, they could achieve their vision of a brighter future for their nation.