Association of Southeast Asian Nations (ASEAN)

Indonesia Attracts 15.39 Million Foreign Visitors In 2025

February 14, 2026February 10, 2026carlocarrasco

Indonesia, the 2^nd largest economy of Southeast Asia, successfully attracted 15.39 million foreign visitors in 2025 and it is already looking forward to attracting even more this year, according to a news report by VnExpress.

To put things in perspective, posted below is an excerpt from the news report of VnExpress. Some parts in boldface…

Indonesia, the largest economy in Southeast Asia, welcomed 15.39 million foreign visitors in 2025, exceeding its target of 14-15 million arrivals.

“We have exceeded our target and performed better than our previous projections,” Tourism Minister Widiyanti Putri Wardhana said at a meeting in Jakarta on Wednesday, as quoted by Antara News Agency.

Government figures show that average spending per foreign visitor reached US$1,267 in 2025, surpassing the target of $1,220.

Malaysia remained the biggest contributor to Indonesia’s tourism revenue, while the United Arab Emirates posted the fastest growth in visitor numbers.

Arrivals from China rose sharply, reaching 1.34 million in 2025, the highest level in six years, according to Xinhua News Agency. The data indicates that travel from China to Indonesia has not only recovered but has also exceeded pre-pandemic levels.

By doing the math of the numbers revealed in the above news report, US$1,267 multiplied with 15.39 foreign tourists is equal to roughly US$19.5 billion in foreign tourism revenue. That is a huge economic boost for Indonesia.

Let me end this piece by asking you readers: What is your reaction to this development? Have you ever toured Indonesia? If you have visited Indonesia, what did you enjoy the most while touring there?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Vietnam Attracts 2.5 Million Foreign Tourists In January 2026

February 12, 2026February 7, 2026carlocarrasco

Vietnam, which is already one of the leading players of Southeast Asia on foreign tourism, is off to a powerful start as it successfully attracted 2.5 million foreign tourists in January 2026 alone, according to a news report by VnExpress. The relaxed visa policies and enhanced tourism campaigns were factors behind the early success.

For insight, Vietnam attracted 21.2 million foreign tourists in 2025. It is expected to attract more from Israel as its ties with the Jewish state are getting stronger. Also, a lot of Filipino travelers searched for accommodations in Vietnam online in 2025. These are only a few of many factors highlighting the tourism boom in Vietnam.

To put things in perspective, posted below is an excerpt from the news report VnExpress. Some parts in boldface…

Vietnam received 2.5 million foreign visitors in January, its highest monthly number ever, thanks to relaxed visa policies and increased tourism campaigns.

It represents an increase of more than 21% from the previous month, data released Tuesday by the General Statistics Office shows.

The composition of Vietnam’s top source markets changed during the month. South Korea overtook mainland China to become the top market with nearly 490,000 visitors, and China was next with 460,000.

Cambodia emerged as the most notable mover with more than 223,000 arrivals to rise to third place overtaking Taiwan. The rest of top 10 comprised Taiwan, Japan, the U.S, Australia, Russia, India, and Malaysia.

Industry insiders attribute the jump to ground-breaking visa policies, strong innovation in tourism promotion and marketing, greater product diversification, and improved service quality.

Let me end this piece by asking you readers: What is your reaction to this development? Have you ever toured Vietnam? With the strong start, do you think Vietnam will be able to attract more than 30 million foreign tourists this year? What is the first thing that comes to your mind when it comes to tourism in Vietnam?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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I Love Israel: Direct Flights Between Israel And The Philippines In 2027 Planned

February 11, 2026February 11, 2026carlocarrasco

Have you ever dreamed of visiting the Holy Land in Israel as well as the many other nice places which welcome tourists from around the world? EL AL Airlines, the national airline of Israel, announced its plans to introduce direct flights between Israel and the Philippines starting some time in 2027, according to a news article by the Philippine News Agency (PNA). The plans are subject to regulatory approvals as of this writing. The Israel-Philippines route is just one of several new routes EL AL is pushing for.

To put things in perspective, posted below is an excerpt from news article of the PNA. Some parts in boldface.

Israel’s national carrier, EL AL Airlines, announced plans to introduce nonstop flights between Israel and the Philippines, following a series of talks.

In a social media post on Monday, EL AL said it is rolling out the broadest route network in its history, with nine new destinations set to launch in 2027.

The expansion includes new long-haul nonstop flights to Hanoi in Vietnam, Seoul in South Korea and Manila, with three weekly flights to each destination to be operated using the airline’s Dreamliner aircraft, offering economy, premium and business classes.

The planned nonstop flight between Israel and Manila comes after discussions on the feasibility of a direct air link, seen as a boost to tourism, business travel and people-to-people exchanges.

EL AL said ticket sales for Hanoi flights are now open, while sales for Seoul will begin in May.

Further details on the Manila route, including the start of sales and flight schedules, will be announced at a later date.

For its part, the Department of Transportation (DOTr) of the Philippines supports the plan citing President Bongbong Marcos’ directive to expand international air connectivity and the strengthening the bilateral ties between nations. High-level talks happened between the DOTr and the Israeli Ambassador to the Philippine Dana Kursh.

Having been to Israel myself, I am delighted with the planned Israel-Philippine direct flights planned by EL AL. Direct flights will help not only Filipinos but also foreign travelers to visit Israel for business, pilgrimage and leisure.

When I first traveled to Israel in 2023, it was on an EL AL flight using a Boeing 787 Dreamliner. Then our Israel pilgrimage tour took place afterwards and I personally witnessed God’s Word come to life whenever we visited the many sites of the Holy Land. I encourage you all to read my feature articles about the Pool of Siloam, the Southern Steps in Jerusalem, Nazareth Village, the grave of Oskar Schindler, the Dead Sea Beach, and some nice commercial joints (click here, here, here and here).

Having direct flights between the Jewish state and the Philippines will also help my native country attract more foreign tourists as well as Israeli investors and technology developers. The Philippines right now is experiencing slower economic growth, having trouble attracting foreign investors and it remains a weak compared with its Southeast Asian neighbors when it comes to attracting foreign tourists.

As such, I encourage all of you to pray to God for the planned Israel-Philippines direct flights of EL AL Airlines to be fulfilled, and for improvements in the ties between Israel and the Philippines. As I mentioned many times online, Israel-Philippines ties are essential!

To all my readers, I encourage you to accept the truth that Israel is the land God designated specifically for the Jewish people (read Genesis 35:10-12) and His command must be followed without hesitation. If you want to be blessed further by the Lord, do so by loving and blessing the Jewish people (Genesis 12:1-3). I did my part when I was in Israel. Also, let me remind you all that the ties between the Jews and Christians are truly biblical!

I encourage you all to pray to the Lord God in support of Israel, to love and bless the Jewish people, and pray for the peace of Jerusalem.

If you truly believe in Lord Jesus, the Holy Spirit and God the Heavenly Father wholeheartedly and you continue to be faithful, you should be aware that Christians are meant to stand united with Israel and love the Jewish people no matter what. You can do your part supporting Israel by donating to Christians United for Israel (CUFI). Do not forget to read the Holy Bible, then pray in tongues to the Lord in the privacy of your room with the door shut.

Always be the fearless and aggressive church of Lord Jesus!

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Malaysia Aiming At Overall Title Of The 2027 SEA Games

February 4, 2026January 29, 2026carlocarrasco

This early, Malaysia is aiming at the top of the 34^th edition of the Southeast Asian Games (SEA Games) which it will host in 2027, according to news report by VnExpress. Malaysia finished 4^th place in the 2025 SEA Games held in Thailand with fifty-seven gold medals won.

To put things in perspective, posted below is an excerpt from the news report of VnExpress. Some parts in boldface…

Malaysia’s Ministry of Youth and Sports (KBS) has set the goal of the country being overall champions at the Southeast Asian Games (SEA Games) in 2027, which will be hosted by Malaysia.

Newly appointed Youth and Sports Minister Mohd Taufiq Johari said after taking office on Jan. 16 that the ministry, together with the National Sports Council (NSC), will strengthen cooperation with national sports associations and others to work towards that goal.

He expressed confidence that Malaysia could emerge as the strongest team at the SEA Games 2027, and voiced optimism about repeating the overall championship the country secured when it last hosted the event in 2017.

Taufiq praised the dedication and fighting spirit displayed by Malaysian athletes at the SEA Games 2025 in Thailand, saying he hoped they will maintain the same qualities when Malaysia hosts the Games in 2027.

He added that the KBS, together with the NSC and relevant agencies, have already drawn up detailed plans and a clear timeline, including the organization of workshops, to ensure medal targets can be achieved.

Apart from being a highly competitive nation in the SEA Games, Malaysia itself is the 2nd most visited nation of Southeast Asia in 2025. Hosting the SEA Games in 2027 could help it attract more foreign tourists in the short term.

Let me end this post by asking you readers: What is your reaction to this recent development? Are you convinced that the preparations initiated by Malaysia will pay off nicely during the 2027 SEA Games? Being the host nation, what sports do you think Malaysia could add to or subtract from the 2027 SEA Games? Do you feel excited about the next Southeast Asian Games?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thailand Sets Ambitious Tourism Targets For 2026

January 25, 2026January 20, 2026carlocarrasco

Thailand, the 2^nd most visited nation of Southeast Asia in 2025, has set ambitious tourism targets for itself for 2026 and it includes achieving US$95 billion in tourism revenue, according to a VnExpress news release. Thailand attracted over thirty million international arrivals last year which was actually a decline of more than 7% compared to 2024.

To put things in perspective, posted below is an excerpt from the news report VnExpress. Some parts in boldface…

The Tourism Authority of Thailand (TAT) has expressed confidence that the country’s tourism sector will earn 3 trillion THB (US$95.35 billion) in revenue this year through its “Amazing 5 Economy” strategy.

The plan targets an 11% increase in international visitors, enhanced domestic tourism, and a focus on sustainable, high-quality growth despite global challenges.

TAT aims for 36.7 million international arrivals and about 210 million domestic trips in 2026. Meanwhile, the revenue target includes 2 trillion THB from international markets, with an expected 11% increase in international tourist arrivals, and 1 trillion THB from domestic tourism, projected to grow by 4%, said TAT Governor Thapanee Kiatphaibool.

In 2026, TAT plans to reignite quality tourism growth by addressing challenges such as geopolitical tensions, increasing global competition, and domestic factors like the strong baht, household debt, safety concerns, and natural disasters. The key to success lies in the “Amazing 5 Economy” framework, which includes life economy, sub-culture economy, night economy, circular economy, and platform economy.

In 2025, Thailand recorded total tourism revenue of approximately 2.7 trillion THB. International arrivals reached 32.97 million, down 7.23% year-on-year.

It saw declines in short-haul markets such as Malaysia and China. However, long-haul markets showed strong momentum, with visitors from Europe, the Americas, the Middle East and Africa reaching a record 10.8 million.

Notably, arrivals from the U.K. and the U.S. each surpassed one million for the first time. Domestic tourism also expanded, with more than 202 million trips, up 2.7%.

Let me end this piece by asking you readers: What is your reaction to this development? Have you ever toured Thailand before? If you did, how long did you stay in Thailand and how was your overall travel experience there? Do you think Thailand will be to achieve its ambitious tourism targets this year?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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A Lot More American Fruits And Vegetables Imported By Vietnam In 2025

January 23, 2026January 22, 2026carlocarrasco

Vietnam, a nation previously ravaged by war which eventually emerged as a major tourism destination in Southeast Asia, imported a lot more fruits and vegetables from the United States of America resulting in a jump of 67% to US$900 million, according to a news report by VnExpress. Vietnam’s exports to America, however, were not too great which resulted in a trade surplus of more than $350 million for America on fruits and vegetables.

To put things in perspective, posted below is an excerpt from the VnExpress news report. Some parts in boldface…

U.S. fruits and vegetables are pouring into Vietnam, with 2025 imports rising by nearly 67% to US$900 million, but Vietnamese exports to the U.S. are not keeping pace.

This marked a 10-fold jump in imports from the U.S. from a decade ago, with cherries, apples, grapes, and oranges being among the top fruits bought, according to Vietnam Customs.

Vietnam’s vegetable and fruit exports to the U.S. were worth $546 million last year, a minuscule 1.49% share in a market is dominated by suppliers such as Mexico, Canada and South American countries.

Dang Phuc Nguyen, general secretary of the Vietnam Fruit and Vegetable Association, said the U.S. is a very large market but also one marked by stringent technical standards and also long geographical distance for Vietnam.

Vietnam’s position as the 13 largest fruit and vegetable supplier to the U.S. is owed to the great efforts made by businesses in recent years, he added.

There is room for growth as the list of fresh fruits permitted for export to the U.S. continues to expand, and now includes pomelo, mango, dragon fruit, longan, lychee, star apple, rambutan and, most recently, coconut.

Consumer trends in the U.S. are shifting toward novel fruits, health-oriented products and more deeply processed items such as frozen fruit, dried fruits and juices, with Vietnamese products like coconut, durian and pomelo becoming increasingly popular.

But exports do face many challenges. Starting this month the U.S. began tightening regulations on traceability and food safety, particularly with respect to pesticide residues.

Vietnamese oversight of planting area codes and packing facilities remains uneven, which threatens to bring warnings or even temporary import suspensions by the U.S.

The high logistics costs due to the distance make it difficult for Vietnamese fruits and vegetables to compete on price with suppliers close to the U.S. such as in Mexico, Peru or Thailand.

Let me end this piece by asking you readers: What is your reaction to this development? Do you consider Vietnam’s heavy importing of American fruits and vegetables in 2025 big economic victories for Trump’s America? What do you think is the main reason as to why Vietnam purchases so much fruits and vegetables from the United States? Do you think Trump’s tariffs are already helping American producers of fruits and vegetables?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Nomura Says Philippine Economic Growth May Fall Below 4% In The Near Term

January 15, 2026January 9, 2026carlocarrasco

By pointing to the effects of the flood control corruption scandal as well as other factors, Nomura Global Markets Research stated that the economic growth of the Philippines may fall below 4% in the near term, according to a BusinessWorld news report.

To put things in perspective, posted below is an excerpt from business report of BusinessWorld. Some parts in boldface…

PHILIPPINE economic growth may fall below 4% in the near term as the billion‑peso flood control scandal drags on, affecting government spending and dampening consumption and sentiment, Nomura Global Markets Research said.

“I think going forward, these spillover effects (from the graft scandal) will also expand,” Nomura Chief Association of Southeast Asian Nations (ASEAN) Economist Euben Paracuelles told Money Talks with Cathy Yang on One News on Thursday.

The scandal, which curbed state spending last year, is expected to dampen household consumption and business investment amid weaker sentiment, he added.

“If the drag is now sort of becoming more broad-based, not just the drop in government spending, you’ll see growth coming potentially below 4%, at least in the near term,” he said.

Nomura now expects the gross domestic product (GDP) to expand by 5.3% in 2026 from 5.6% previously. This is still within the government’s recently revised 5-6% target this year.

Economy Secretary Arsenio M. Balisacan earlier said growth targets were lowered through 2027, after GDP growth likely slowed to 4.8-5% in 2025 amid the flood control controversy.

The government cut its 2026 projection to 5-6% and to 5.5-6.5% for 2027 from the earlier 6-7% range. The 2028 target was retained at 6-7%.

Mr. Paracuelles anticipates that the government will roll out catch-up spending plans, possibly in the second half of the year.

Meanwhile, the Philippines may earn a credit rating upgrade if the government manages to resolve the flood control corruption issue within a year, Mr. Paracuelles said.

“The key for me is 12 months from here, when they need to decide on whether they need to upgrade the Philippines, I think it’s still quite uncertain,” he said.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the economic growth of the Philippines is indeed slowing down right now? Would you be surprised to see the nation’s economic growth reach less than 4%? Do you think the officials of the Department of Public Works and Highways (DPWH) is working sufficiently to restore its credibility?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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America Eyes Expansion In The Philippines As Demand For Food Intensifies

December 20, 2025December 19, 2025carlocarrasco

Following its aggressive move to export more fresh fruits to the Philippines, the United States under President Donald Trump will ramp up its agricultural exports to the country in connection with strong Filipino demand for food, according to a Manila Bulletin news report.

For the newcomers reading this, not even the softened economic growth of the Philippines dampened the Filipinos’ rising demand for food and the young population is a factor behind it. America sees opportunities to export more meat, seafood and other agricultural products to the Philippines.

To put things in perspective, posted below is an excerpt from the news report of the Manila Bulletin. Some parts in boldface…

The United States (US) is gearing up to increase its agricultural exports to the Philippines, banking on the country’s growing food demand and potential economic growth.

In a Dec. 17 report, the US Department of Agriculture (USDA) said the country was the ninth-largest market for US exporters last year, with agricultural goods valued at $3.5 billion.

The foreign agency expects continued growth in the years to come, especially given the country’s fast-growing economy, which ranked third among the Association of Southeast Asian Nations (ASEAN) countries last year.

While it noted that the Philippine economy “continues to face risks from geopolitical tensions and trade policy uncertainties,” the USDA said it will likely remain resilient in the coming year.

The International Monetary Fund (IMF) earlier lowered its forecast of the country’s gross domestic product (GDP) growth from 5.4 percent to 5.1 percent this year, before rebounding to 5.6 percent in 2026.

The USDA also cited the easing of inflation and income inequality, driven by a growing population, as fueling demand for more agricultural commodities.

“With its rapid population growth, the Philippines has a young population that increasingly demands imported agricultural products,” it said.

According to the USDA, these market dynamics provide opportunities for US agricultural product exporters to broaden their presence in the country.

The report said products that have the “greatest potential for expansion” include dairy, poultry, ethanol (non-beverage), pork, beef, processed potatoes, confectionery and snack foods, and seafood.

Last year, the US was the top single-country supplier to the Philippines, with a market share of 18 percent, behind ASEAN at 31 percent.

The USDA noted that despite this strong performance, US exporters remain at a disadvantage relative to other exporters due to logistical and tariff challenges.

In this case, members of ASEAN benefit from lower tariffs and cheaper shipping costs, whereas the US is subject to slightly higher taxes under the most-favored nation tariff rates.

On top of this, the USDA said exporters also face higher costs due to government policies such as the sanitary and phytosanitary import clearance (SPSIC)—a document required before shipment of any agricultural product to the Philippines.

“SPSICs are valid for 20 to 90 days, depending on the commodity. The limited validity period adds costs and complicates the timing of exports, among other factors,” the report read.

In this view, the USDA emphasized the need for exporters to keep up to date with market trends to maintain the competitiveness of American products in the local market.

For instance, it noted that young Filipinos are more open to new flavors and experiences, which suppliers could consider when promoting their products.

For the full report of the US Department of Agriculture related to the news story, click here.

Let me end this piece by asking you readers: What is your reaction to this development? Are you looking forward to more American agricultural products plus seafood in the local markets? Do you think exporters of America are on the verge of becoming more competitive globally over the next 24 months?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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US Mounts Offensive To Smash China’s Fruit Market Dominance In The Philippines

December 2, 2025December 1, 2025carlocarrasco

Were you able to spot and buy fruits imported from America at the local markets here in the Philippines over the past month? The United States will soon introduce new varieties of fruit to the Philippines in what is seen as a serious effort to break China’s dominance, according to a news report by the Manila Bulletin.

To put things in perspective, posted below is an excerpt from the news report of the Manila Bulletin. Some parts in boldface…

The United States (US) aims to introduce new fruit varieties to the Philippines to boost its share of the import market, which has long been dominated by China.

In a market brief published last week by the US Department of Agriculture (USDA), American exporters were urged to introduce innovative fruit varieties to the country to sustain the momentum in apple exports.

The USDA expects exports of fresh fruits to fall by at least seven percent to around $13 million this year from $14 million in 2024.

Despite this, the foreign agency said shipments of apples to the country will grow this year, driven by the popularity of the Ambrosia, Cosmic Crisp, and SugarBee varieties. These varieties were introduced to the Philippine market last year and have since gained traction among consumers.

“Consumers are eager to try new-to-market fruit varieties and share their experiences on social media,” the report read.

The USDA noted that only bananas and papayas are harvested year-round in the country, creating an opportunity for American exporters to fill market gaps year-round.

“The United States is widely recognized for consistently supplying premium-quality fruit, and US exporters are encouraged to leverage this reputation,” it said.

The USDA, citing Philippine government data, expects fresh fruit imports this year to grow by 25 percent to around $400 million, up from $321 million in 2024.

Last year, the US only accounted for a three percent share in the import market. Its main shipments were apples, cherries, grapes, oranges, strawberries, cranberries, blueberries, and peaches.

In contrast, China seized 72 percent of the market last year, with its main exports being apples, grapes, mandarins, oranges, and other citrus hybrids.

Also outperforming the US were South Africa and Australia with market shares of nine percent and eight percent, respectively.

With the exception of South Africa, the USDA noted that the dominance of regional suppliers is a result of better prices, largely driven by lower shipping costs and zero-tariff advantages under free trade agreements with the Association of Southeast Asian Nations (ASEAN).

“The Philippines does not have a preferential trade agreement with the United States or South Africa. As a result, MFN (most-favored-nation) tariff rates apply to fresh fruit imports from both countries,” the report read.

Let me end this post by asking you readers: What is your reaction to this recent development? Did you buy any fruits in the local market that were imported from the United States of America? Does the name or image of US President Donald Trump influence your decisions on buying American fruits locally? Apart from prices, how would you compare American fruits with the ones from China in terms of taste, texture and satisfaction?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Philippines At Risk Of Falling Behind Southeast Asian Neighbors Economically

November 26, 2025November 19, 2025carlocarrasco

The 3^rd quarter growth of only 4% the Philippines achieved has been on people’s minds a lot lately. As such, the country is at risk of falling behind its neighbors in Southeast Asia in terms of economic growth and gross domestic product (GDP) per capita, according to a BusinessWorld news report.

To put things in perspective, posted below is an excerpt from the news report of BusinessWorld. Some parts in boldface…

The Philippine economy is at risk of further falling behind its Southeast Asian neighbors, an economist said, noting it may take two years to catch up with Vietnam and up to 70 years to catch up with Singapore.

“(T)he Philippines could find itself lagging behind if alleged public spending issues continue to divert attention and resources away from the structural reforms needed to accelerate economic development,” Bank of the Philippine Islands (BPI) Lead Economist Emilio S. Neri, Jr. said in a commentary on Wednesday.

In the third quarter, Philippine gross domestic product (GDP) grew by 4%, its slowest pace in over four years amid slower household and public infrastructure spending as the flood control scandal dampened investor and con-sumer sentiment.

In the nine months to September, GDP growth averaged 5%, putting the government’s 5.5%-6.5% full-year growth target further out of reach.

“The Philippine economy is growing, but not enough to close the economic gap with other countries,” Mr. Neri said.

He noted the Philippine GDP per capita is lower compared with other economies in the region. Citing International Monetary Fund (IMF) data, he said the Philippines’ GDP per capita stood at $4,078 in 2024.

“At the current growth rate, it would take the Philippines two years to catch up with the GDP per capita of Vietnam, 4 years with Indonesia, 14 years with Thailand, 26 years with Malaysia, and 70 years with Singapore, assuming their incomes remain stagnant. In reality, their GDP per capita continues to grow, which means the gap could persist or even widen,” Mr. Neri said.

The Philippines lagged behind Singapore which had a GDP per capita of $90,674 in 2024, followed by South Korea ($36,128), Japan ($32,498), China ($13,312), Malaysia ($12,540), Thailand ($7,491), Indonesia ($4,958) and Vietnam ($4,535).

“Before the pandemic, the Philippines had a higher GDP per capita than Vietnam, but has since been overtaken. At current trends, it would take the Philippines two years to catch up with Vietnam, but that gap could increase to 13 years by 2044,” Mr. Neri said.

The BPI economist said the Philippines needs structural reforms to accelerate growth in order to close the widening gap with its neighbors.

“The current economic model of the country is not enough, as shown by the country’s inability to grow faster than 6% in recent years,” he said.

Mr. Neri said the economy has been “too reliant” on consumer spending, driven by overseas Filipino worker (OFW) remittances and the business process outsourcing industry.

“There is a need to diversify its sources of growth. The economy must improve in terms of production, especially in agriculture and manufacturing, as they will allow the economy to be more self-sufficient and to reach foreign markets. These industries have been critical to Vietnam’s success and could play a similar role for the Philippines,” he said.

However, Mr. Neri said implementing these reforms will be hard if the government lacks focus.

“Public spending issues divert fiscal resources and policymaking focus away from long-term development priorities. Efforts to strengthen safeguards against potential issues in government spending are essential, enabling the country to work on structural reforms that could improve the economy,” he said.

Let me end this post by asking you readers: What is your reaction to this recent development? What do you think should the government do to accelerate economic growth?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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