As 2023 comes to a close, it is time for us to reflect on what has taken place in the past 12 months.

In terms of economic development, nation-building, poverty alleviation, societal literacy, and territorial integrity — there wasn't much. Arguably, we are in the same boat as the previous year, except we are now more diplomatically acceptable in more corners of the world.

Our top government officials' numerous official overseas visits meant that we got more invitations to sit with the big boys and exchange signatures on contractual pledges that have yet to materialize. These were promising developments, indeed, but tangible results are what we are more concerned with.

Global acceptance comes at a price — a pesky yet formidable intruder in our backyard, spraying our own water at us whenever we pass by, bullying our own people on our own property. The routine is becoming predictable and tiring, and something's got to give. It can be a petty exercise or mean something more, like a sign seeking attention. Whatever the outcome, we hope it will be in our favor.

On the government side, we saw new faces in the Cabinet who still have time to make things happen.

The biggest news should have been the creation of the Maharlika Investment Corporation and the appointment of the people behind it. The choice of officers was exciting if we also consider the new Agriculture Secretary and economic advisers, who, aside from being generous election donors, are seasoned, experienced businessmen with street cred to boot. But as we know, the fast-paced private world is worlds away from the rudimentary processes in the public arena. We hope there will not be much of a learning process with our Grade-A appointees.

On the business side, we have seen some movements this year. But it is still the same names thus far, no new tycoons rising (i.e., Injap Sia during the Aquino administration, Dennis Uy during Duterte's) and no regional blocs taking over (i.e., Davao Group in the last administration). This may be attributed to our President being the son of a long-serving former president and no noveau-rich personalities cropping up; rather, the generational wealth types are having a second coming. The same names are coming up with new projects that will shape the industries to come.

Another thing to notice is the joining of forces by tycoons who may not have been getting the same attention before, a.k.a. RSA and MVP. This seismic change in the business landscape will be felt in the coming years, knowing that the ages of these huge personalities are on the latter part of the scale.