27 January

Enrique Zobel and the Board celebrate MBC’s 15th anniversary.


30 January




“ASEAN will encompass all ten economies of South East Asia ... It would be the largest regional grouping in terms of population with an expected combined GDP of one trillion US dollars by the year 2003. ASEAN can be the engine of growth for East Asia, for APEC, and maybe even for the world in the 21st century. Active and effective cooperation between the Philippines and Thailand can help bring this about.”

– Chavalit Yongchaiyudh, Thailand Prime Minister

8 February

Pres. Ramos implements full deregulation of the downstream oil industry.

2 March




“It is my first visit to your beautiful country whose name is so strongly associated in the minds of South Africans with the empowerment of ordinary people. And it is the first time that the business delegation from South Africa meets with their Philippine counterparts on a structured and organized basis.”
– Nelson Mandela, Republic of South Africa President

30 May


RA 8291 creates the Government Service Insurance System.


12 May


Barangay elections

May

Inflation Rate hits its lowest at 4.2%.

April

Agricultural sector suffers from El Niño.

6 June

RA 8293 institutionalizes the protection of intellectual property rights.

10 June



“Political stability has been restored and chronic power failures that once stalled economic growth have been eliminated. President Ramos and his administration have pushed through sweeping deregulation and privatization, cutting costs, increasing investment transparency and eliminating many of the bottlenecks that previously made the Philippines unattractive to foreign investors. The result: sustained economic growth.”

– Goh Chok Tong, Thailand Prime Minister


July

Asian financial crisis kicks in with the plunge of the Thai baht.

July

MBC conducts first Executive Outlook Survey.

August

Manila Water and Maynilad Water take over MWSS operations.


4 September

MBC joins other organizations in a press conference cautioning against Charter Change.


21 September

Nation rallies against charter change.

October


91-day T-bill rate shoots to 16.5%.

6 November

MBC expresses disappointment over Supreme Court’s decision to rule the Downstream Oil Deregulation Act as unconstitutional.

11 December

RA 8424 rationalizes the internal revenue tax system.

RA 8425 creates a social reform and poverty alleviation program.

22 December

RA 8435 creates an Agriculture and Fisheries Modernization program; RA 8436 allows COMELEC to use an automated election system; and RA 8438 creates the Cordillera Autonomous Region.