Economy of the Philippines – Author Carlo Carrasco

Strong Office Demand In The Philippines During 1st Quarter Of 2026

April 14, 2026April 8, 2026carlocarrasco

During the January-March period this year, demand in the office market of the Philippines has been strong as net absorption jumped 77% year-on-year, according to a news report by BusinessWorld.

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

THE PHILIPPINE office market started 2026 with stronger net demand, as net absorption rose 77% year on year to 133,000 square meters (sq.m.) in the first quarter (Q1), property consultancy firm Leechiu Property Consultants (LPC) said.

Gross demand, however, reached 234,000 sq.m., down 22% from the previous quarter, which LPC said was “consistent with typical first-quarter seasonal patterns.”

LPC Director of Commercial Leasing Mikko Barranda said market conditions remain stable but are becoming more complex.

“At this point, the market remains on track, but the path forward is becoming less straightforward,” he said during a briefing on Tuesday.

He added that “tenants are becoming more discerning and intentional in their real estate decisions, which must be matched by greater flexibility from the market.”

Traditional occupiers drove demand, accounting for 143,000 sq.m., or 61% of total take-up. Information technology and business process management (IT-BPM) firms contributed 79,000 sq.m., or 34%.

Expansion deals dominated both segments, with 112,000 sq.m. recorded for traditional tenants and 51,000 sq.m. for IT-BPM firms. Demand for managed facilities rose to 31,000 sq.m. as occupiers sought “ready-to-use spaces,” LPC said.

The increase in net demand was partly driven by a 62% year-on-year decline in vacated space to 101,000 sq.m. for the quarter.

LPC attributed the improvement mainly to the “absence of Philippine offshore gaming operator (POGO)-related exits.”

The firm said occupiers have “largely completed right-sizing and are no longer giving up additional space.”

In Metro Manila, Makati City led office transactions with 76,800 sq.m., equivalent to 54% of its total demand in 2025. LPC said 63% of these transactions were located along Ayala Avenue, with 70% involving semi-fitted or fitted units.

“Makati remains attractive as occupiers take advantage of competitive rents and fitted spaces, while maintaining the prestige of an Ayala Avenue address,” the firm said.

Bonifacio Global City (BGC) maintained the lowest vacancy rate at 8%, compared with the Metro Manila average of 18%.

Outside Metro Manila, demand reached 34,000 sq.m., led by Cebu with 11,700 sq.m., followed by Iloilo with 11,000 sq.m. and Clark with 6,600 sq.m.

LPC said provincial demand remains concentrated in “established IT-BPM hubs and infrastructure-linked corridors.”

Total office stock reached 2.7 million sq.m. in Metro Manila and 723,000 sq.m. in the provinces.

Metro Manila is expected to add 807,000 sq.m. of new office supply through 2028, with Quezon City accounting for 240,000 sq.m.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think demand for offices in the Philippines will remain strong throughout the 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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Expansion Contract Worth Almost P600 Million Signed By Best Western Plus Hotel Subic

April 12, 2026April 10, 2026carlocarrasco

Best Western Plus Hotel Subic, the 4-star hotel located along Dewey Avenue, signed the expansion project contract worth almost P600 million with the proponent Subic Bay Metropolitan Authority (SBMA), according to the SBMA’s official announcement.

To put things in perspective, posted below is an excerpt from official announcement by the SBMA. Some parts in boldface…

Best Western Plus Hotel Subic has confirmed plans to expand its operations after signing the contract that will allow the construction of a new building beside the current hotel.

The expansion project was signed between the proponent, Subic Bay Metropolitan Authority (SBMA) and developer Simon & Stanley International Trading and Development Co. Inc.

SBMA Chairman and Administrator Eduardo Jose L. Aliño and Best Western Plus Hotel Subic Chairman and CEO Jaime “Jack” Uy led the contract signing for the expansion project at the Corporate Boardroom of the Administration Building on March 31, 2026.

Architect Jayson Steffen Uy, Vice-president for Facility and Construction of Savers Group Holdings Inc. (SGHI), shared that the new building will consist of 120 additional hotel rooms, several commercial spaces, a three-floor parking area, restaurants, and parks.

SGHI is the exclusive developer for Best Western in the Philippines as the conglomerate that owns and manages Best Western Plus Hotel Subic.

Uy added that the new building will be an extension of Best Western with infused committed investment worth P587,967,200.00.

“With the current need for more spaces, function halls, and rooms, we decided to expand our operations in Subic,” Uy added.

The official stated that the design phase should be finished either this year or next year while the construction should be able to commence as early as the first quarter of 2027.

“As for employees, the company intends to source its manpower requirements locally,” he further said.

Meanwhile, SBMA Director Ted Del Rosario, Senior Deputy Administrator (SDA) Renato Lee III, SDA Ramon O. Agregado, and other agency officials were also present during the said contract signing ceremony.

Chairman Aliño welcomed the expansion project of Best Western Plus Hotel Subic, citing the growing need of hotels and establishments in Subic Bay Freeport. He added that aside from the company’s committed investment, the agency also welcomes the job opportunities from the expansion project.

Let me end this post by asking you readers: What is your reaction to this recent development? Have you ever stayed at the Best Western Plus Hotel Subic already? Do you think the newly signed contract will lead to improvements on tourism inside the Subic Bay Freeport Zone over the next few years? Do you think this new development could influence other hotel operators to expand or renovate their respective places in order to attract more tourists and corporate clients?

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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Philippines Inflation Jumps To 4.1% In March 2026

April 12, 2026April 7, 2026carlocarrasco

With the sharp spikes on fuel prices caused by the war in the Middle East, the inflation rate of the Philippines jumped to 4.1% for the month of March 2026, according to a news report by GMA Network.

To put things in perspective, posted below is an excerpt from GMA News. Some parts in boldface…

Inflation rate sped up in March driven by the series of hikes in the retail prices of petroleum products due to the ongoing war in the Middle East, the Philippine Statistics Authority (PSA) reported on Tuesday.

At a press briefing, National Statistician and PSA chief Claire Dennis Mapa said inflation — the rate of increase in the prices of goods and services — accelerated to 4.1% last month from 2.4% in February 2026 and 1.8% in March 2025.

This was the quickest inflation rate since the 4.4% in July 2024.

Year-to-date inflation rate stood at 2.8%, still within the government’s 2% to 4% ceiling.

Mapa said the main culprit from the higher inflation print was Transport index which saw an inflation rate of 9.9%, a reversal from 0.3% decline month-on-month, and a 54.8% share to the overall uptrend.

“Ang nag-ambag sa mas mataas na antas ng inflation ng Transport nitong Marso 2026 ay ang pagtaas ng presyo mula sa pagbaba ng presyo noong Pebrero 2026 ng mga gasolina at diesel,” he said.

(The main contributor to the higher Transport inflation in March 2026 was the increase in the prices of gasoline and diesel from a decline seen in February 2026.)

In particular, inflation for gasoline soared to 27.3% last month from -5.7% in February while diesel’s inflation rose to 59.5% from -1.3% a month prior.

The global oil price shock amid the continuing US-Israel versus Iran conflict has caused petroleum pump prices in the country to jack up to historic highs in March.

Also contributing to inflation acceleration in March was the Food and Non-Alcoholic Beverages index which climbed to 3% from 1.8% in February with an overall share of 26.9% to the uptrend, driven by cereals (such as rice) growing 3.7% from -1.3% in the prior month.

The inflation for Housing, Water, Gas and Other Fuels index likewise increased to 4.5% from 3.5% month-on-month with a share of 12.7% on the back of increments across electricity (9.2% from 6.7%), LPG (2.2% from -2.2%), and rentals (3.2% from 3%).

Inflation felt by the bottom 30% income households clocked in at 4.2% from 2.5% in February, bringing its first quarter average to 2.8%.

The inflation for the bottom 30% income class was brought about by the 3.9% growth in Food and Non-Alcoholic Beverages as well as Transport which posted a 7.2% from a contraction of 0.6% in the previous month.

Let me end this post by asking you readers: What is your reaction to this recent development? Considering how high fuel prices are, do you think it is a matter of time before the nation’s inflation rate surpasses 5% in the next month or two? Do you think the government of the Philippines can provide financial relief as inflation spikes?

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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Cebu Taxi Driver Ordered By LTFRB To Surrender His License For Overcharging K-pop Star

April 10, 2026April 8, 2026carlocarrasco

For some time now, the Philippines has been underperforming in the race of attracting foreign tourists and its 2025 numbers have been disappointing. Recently, Philippine tourism suffered another blackeye as a taxi driver in Cebu overcharged a very prominent entertainer from South Korea – K-pop star Soobin – and already the details of the incident spread like wildfire on social media and in foreign news, according to a news article by VnExpress. The said taxi driver has been suspended for 30-days and was ordered by the Land Transportation Franchising and Regulatory Board (LTFRB) to surrender his driver’s license.

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

Philippine authorities have taken action against a taxi driver who overcharged Soobin, a member of the K-pop group Tomorrow X Together, during a trip to Cebu.

According to Korea JoongAng Daily, a video posted April 1 on the group’s official YouTube channel, titled “Soobin’s Super Fun and Super Tiring Vacation,” shows the singer and his friend navigating the incident. In the footage, Soobin and the friend arrive at the airport and attempt to take a taxi to their accommodation.

“I checked beforehand, it should be about 300 pesos (US$17),” Soobin says in the video, as quoted by Chosun Biz. “If they charge more than 300 pesos, let’s act angry once.”

However, a taxi driver subsequently approaches them and initially quotes the pair 500 pesos. After failing to negotiate, Soobin gets into the taxi, only for the driver to suddenly demand 1,000 pesos, claiming it was a “car with expensive gas.”

Soobin immediately confronts the driver, saying, “Did you hear that? I’m going to report you,” while documenting the attempted overcharge.

His friend later remarks, “Still, it’s better that we arrived safely. We’re so tired,” and Soobin ultimately pays the originally agreed 500 pesos.

Following the broadcast, the Philippines’ Land Transportation Franchising and Regulatory Board ordered the driver to surrender his license plate and driver’s license and imposed a 30-day suspension.

“The taxi driver excessively charged the fare and deliberately did not use the meter during the ride,” the board said, as quoted by the South China Morning Post. “This is a serious offense that tarnished our country’s honor in the international community.”

Philippine National Police Chief Jose Melencio Nartatez Jr. also ordered a nationwide crackdown on taxi drivers accused of overcharging passengers. Authorities have since been deployed to monitor transportation hubs, particularly airports.

Let me end this post by asking you readers: What is your reaction to this recent development? If have traveled overseas over the past twelve months, were there any local taxi drivers who overcharged you? Do you think Philippine tourism will be able to recover from this recent embarrassment?

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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SBMA Recognized For Boosting Philippines-Australia-New Zealand Ties

April 7, 2026April 4, 2026carlocarrasco

Recently the Subic Bay Metropolitan Authority (SBMA) was recognized by the Australia and New Zealand Chamber of Commerce (ANZCham) for strengthening economic ties between the Philippines, Australia and New Zealand during a prestigious event held in Makati City, according to the official announcement.

To put things in perspective, posted below is an excerpt from official announcement by the SBMA. Some parts in boldface…

The Australia and New Zealand Chamber of Commerce (ANZCham) recognized the Subic Bay Metropolitan Authority (SBMA) for its efforts in fostering strong economic linkages between the Philippines, Australia, and New Zealand.

The citation was given during ANZCham’s 45th Annual General Meeting and Awards Night held at the Makati Shangri-La on March 24, 2026, where SBMA Senior Deputy Administrator for Business and Investment Renato Lee III accepted the award on behalf of the agency.

“We are strengthening our global linkages not only to attract capital but also to bring in innovation, technology, employment, and long-term partnerships that create real economic value,” Lee said.

The Bridges of Progress Award is conferred to Philippine institutions that have demonstrated exemplary collaboration and actively contributed to strengthening trilateral and economic ties with Australia and New Zealand.

SBMA’s recognition reflects its role in advancing international partnerships and investment promotion, a testament to SBMA’s growing role in the regional investment landscape.

It recognizes its sustained efforts to streamline investment processes, support foreign enterprises, and position Subic Bay Freeport as a competitive hub for global business.

Meanwhile, SBMA Chairman and Administrator Eduardo Jose L. Aliño emphasized the award’s broader significance in reinforcing international cooperation: “This honor reflects the strength of our partnerships with the Australian and New Zealand business communities.”

“We remain committed to policies that encourage greater investments, deepen economic engagement, and promote shared prosperity across our regions,” he added.

ANZCham officers, headed by its President Benjamin Romualdez, attended the event, along with members of the diplomatic corps and leaders from both the public and private sectors, and gathered to celebrate organizations that have contributed significantly to enhancing cross-border partnerships.

ANZCHAM Philippines is a prominent, non-profit business organization that has been active for over 45 years. It serves as a bridge for enterprises looking to expand within the Philippine-Australian-New Zealand business corridor.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the SBMA’s continued efforts on strengthening economic ties with the Philippines, Australia and New Zealand will result in investment breakthroughs?

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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USDA Trade Mission In The Philippines Set From April 13 To 16

April 6, 2026April 5, 2026carlocarrasco

In a serious effort to ramp up agricultural exports to the Philippines, the United States Department of Agriculture (USDA) will lead a trade mission in the country from April 13 to 26, 2026 and the delegation will be composed of several American agribusinesses farmers and trade groups, according to a news article by Farms.com.

To put things in perspective, posted below is an excerpt from the news article from Farms.com. Some parts in boldface…

The U.S. Department of Agriculture (USDA) will lead a trade mission to Manila, Philippines, from April 13 to 16, 2026. The goal is to expand export opportunities for American farmers, ranchers, and agribusinesses.

This mission follows a major trade agreement reached in July last year, which created new pathways for U.S. agricultural products in the Philippines market. The delegation will be led by Deputy Under Secretary Michelle Bekkering and will include 58 agribusinesses, trade groups, and representatives from state agriculture departments.

Participating states include Idaho, Kansas, Nebraska, and Wisconsin. Companies such as American Egg Board, American Peanut Council, California Milk Advisory Board, Potatoes USA, U.S. Dairy Export Council, U.S. Soybean Export Council, and U.S. Meat Export Federation are part of the mission. Other businesses like Foodlinx, BNutty Peanut Butter, Global Export Marketing Co., Wonderful Citrus, and USA Poultry and Egg Export Council will also attend.

The Philippines is an important market for U.S. agriculture. It ranks as the tenth-largest buyer of U.S. farm and food products, with average annual imports of $3.4 billion over the past five years. Its growing population of 118 million and rising middle class make it a strong market for future growth.

During the visit, USDA’s Foreign Agricultural Service will organize meetings, market briefings, and site visits. These activities will connect U.S. exporters directly with Filipino buyers and strengthen business relationships.

“USDA is committed to getting American farmers, ranchers and agribusinesses better access to strong markets and fair opportunities abroad,” said Deputy Undersecretary Bekkering. “Since the Philippines is one of the fastest-growing markets in Asia, this mission will connect U.S. exporters directly with reliable buyers, strengthen our trade relationship, and help keep American agriculture globally competitive.”

Let me end this piece by asking you readers: What is your reaction to this development? Do you think American agriculture is set to grow with exporting goods worldwide under the leadership of US President Donald Trump over the next three years? Do you think Filipinos will continue to consume even more American agricultural goods?

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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Almost 2.5 Million Barrels of Russian Crude Oil Acquired By Petron

April 4, 2026March 30, 2026carlocarrasco

Fuel giant Petron confirmed that it has almost 2.5 million barrels of crude oil from Russia, according to news report by GMA News. The acquisition has been perceived by many as crucial as the Philippines is struggling with very expensive fuel.

To put things in perspective, posted below is an excerpt the GMA News report. Some parts in boldface…

Petron Corp. on Monday confirmed the procurement of 2.48 million barrels of crude oil from Russia to augment its inventory until June, as the country’s supply reaches what it described as a “precarious” level amid the ongoing conflict in the Middle East.

The listed fuel retailer, which holds a 30% share of the Philippine market and operates the country’s only oil refinery, said it closely coordinated with the Departments of Energy (DOE) and Finance (DOF) on the purchase after both agencies called on local companies to secure alternative sources of crude and finished products.

“The corporation wishes to emphasize that the procurement of Russian crude oil is not part of its business-as-usual sourcing strategy,” Petron said in a regulatory filing.

“The purchases were undertaken strictly out of extreme necessity, as an extraordinary emergency measure in response to unprecedented geopolitical and supply chain disruptions, and only after exhausting all commercially and operationally viable alternatives,” it added.

Petron said it also received confirmation from the Bangko Sentral ng Pilipinas (BSP) that there is no prohibition under Philippine law on sourcing foreign currency for import and trade transactions, clearing the way for the importation of Russian crude oil.

The corporation said that if the current crisis persists and alternative crude sources remain unavailable or insufficient, it may again be compelled to consider purchasing Russian crude oil to augment the national fuel supply.

It added that this would help directly mitigate the adverse consequences arising from the absence of a stable and reliable source of crude.

Let me end this post by asking you readers: What is your reaction to this recent development? Does Petron’s procurement of 2.48 million barrels of Russian crude oil make you feel relieved when it comes to the overall supply of fuel in the Philippines?

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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Philippine Peso One Of The Most Vulnerable Currencies Of Asia

April 2, 2026March 30, 2026carlocarrasco

With a lot of economic disruptions connected with the conflicts in the Middle East, the Philippine Peso has been exposed as one of the most vulnerable currencies of Asia and already the nation is struggling with spiked fuel prices and rising inflation, according to a business news report by the Manila Bulletin.

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

Singapore-based DBS Bank Ltd stated that the Philippine peso is emerging as one of Asia’s most vulnerable currencies as deepening global oil crisis exposes the nation’s heavy reliance on imported energy and the lack of government subsidies.

DBS wrote in a commentary published last Friday that the peso is expected to underperform in the foreign exchange (forex) market alongside the Indian rupee, which recently hit a record low against the United States (US) dollar. The peso also plummeted to another all-time low last Friday, finishing at P60.55 per dollar.

Like India, the Philippines is grappling with vulnerabilities from oil price shocks, which have led the peso to reach a new all-time low, according to DBS senior forex strategist Philip Wee and forex and credit strategist Chang Wei Liang.

“Similarly, the peso remains highly vulnerable,” Wee and Liang said. Last Friday, the peso breached the 60.5 level as geopolitical tensions in the Middle East intensified, and the central bank stood firm in its view that there is no immediate need to defend the currency.

Wee and Liang said the Philippines stands as “most exposed to oil price pass-through due to zero subsidies and a 90 percent energy reliance on Gulf energy.”

Japanese financial giant MUFG Bank Ltd. and think tank Capital Economics also emphasized the Philippines’ high exposure to external market volatility, which is hurting the peso amid investors’ risk-off sentiment.

MUFG analysts said the peso is among the “weakest performers in the region” last week, declining by a total of 4.9 percent since the Israel-Iran conflict flare-up. It was surpassed only by the Thai baht, which has dropped 5.9 percent month-to-date.

Following the peso are the declines in the South Korean won (4.7 percent), Indian rupee (4.1 percent), and Malaysian ringgit (three percent). Meanwhile, the Vietnamese dong and Chinese yuan have been the most resilient currencies, with only around a one percent decline each.

DBS said that the Bangko Sentral ng Pilipinas (BSP) is facing a dilemma: it must contain skyrocketing consumer prices while defending the peso amid extreme vulnerability to the worsening energy crisis, with the impacts more pronounced in heavy oil-importing economies.

Citing metrics from an Institute of International Finance (IIF) study, Wee and Liang labeled the currencies of the Philippines, South Korea, and Malaysia as “somewhat vulnerable” to oil price spikes stemming from the Middle East war.

Such metrics include direct trade exposure to oil imports, the growth impact of oil usage intensity, and vulnerability to agricultural and fertilizer supply shocks.

DBS assessed India, Thailand, and Vietnam as the most vulnerable to oil market shocks, while China and Indonesia are the least sensitive.

Despite the peso’s recent weakness, DBS projects the local currency to rebound toward 57.8 per dollar by the end of 2026. However, the pair is also seen climbing back to 59.9 by late 2027 and remaining within the 59 level through 2030.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the government of the Philippines and its economic managers will be able to execute moves to prevent strengthen the Peso ensuring 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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America Points At Corruption Anew As Barrier To Trade And Investment With The Philippines

April 2, 2026April 2, 2026carlocarrasco

While the Philippines continues to be active on attracting investments from around the world, it still has yet to wipe out the plague of corruption which remains a persistent challenge in the private and public sectors. That being said, the United States pointed to the corruption as a major barrier to trade and investment with the Philippines, according to a Manila Bulletin news report. This is not the first time America noticed Philippine corruption in relation to economics.

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

The United States (US) has once again flagged corruption as a major barrier to trade and investment with the Philippines, as recent efforts to clean up regulatory and judicial processes have failed to yield positive results.

In this year’s National Trade Estimate (NTE) report, the Office of the US Trade Representative (USTR) said corruption continues to be a “pervasive and longstanding problem” in doing business in the Philippines. The report was released on Tuesday, March 31.

This year, unlike last year’s NTE report, the USTR specifies that corruption remains a persistent challenge in both the private and public sectors.

“National and local government agencies, for example the Bureau of Customs (BOC), are beset with various corruption issues, including allegations of overt bribery,” it said.

The USTR said attempts by the BOC to address customs and corruption concerns continue to fall short, as reports of corruption and irregularities in customs processing remain widespread.

In particular, US businesses are complaining about incidents of undue and costly delays, irregularities in the valuation process, exhaustive inspection and testing of some products, and inconsistent assessment of fees.

The USTR also called out the “lack of transparency in judicial and regulatory processes,” which ultimately undermines efforts to address corruption.

The agency is urging the Philippine government to deal with corruption once and for all, warning that it may impact trade and investment flows between the two longtime allies.

“If left unchecked, bribery and corruption can negate market access gained through trade negotiations, frustrate broader reforms and economic stabilization programs, and undermine the foundations of the international trading system,” the USTR said.

Despite the Philippines’ efforts to strengthen its intellectual property (IP) protection and enforcement, the USTR said the US remains dissatisfied with “inconsistent enforcement activities.”

“Stakeholders report issues with online piracy and sales of counterfeit goods, including apparel, shoes, watches, jewelry, perfume, and electronics,” it said.

Issues involving counterfeiting and piracy led to the continued inclusion of Greenhills Shopping Center in the 2025 Review of Notorious Markets for Counterfeiting and Piracy, or the USTR’s Notorious Markets List, released last month.

The government’s efforts to combat issues involving IP rights are weakened by the slow prosecution and conviction of cases, the USTR said.

Further, the USTR said that the US has concerns about the Philippines’ laws regarding the protection of internationally recognized labor rights, as well as the enforcement of labor laws.

The USTR noted that the Philippines currently does not have a ban on the importation of goods produced with forced or compulsory labor, which earlier prompted the agency to investigate the country along with 59 other economies.

Meanwhile, the agency also raised its objections to the country’s persistent problem with wildlife trafficking, which undercuts regulated trade in wildlife products and may lead to the contamination of global supply chains that would ultimately reach US consumers.

Without sufficient measures in place, the USTR said these market-distorting practices may weaken the trading relationship between the US and the Philippines.

“The Philippines has not entered into an Agreement on Reciprocal Trade with the US that includes commitments to address these distortions,” it said.

Philippine imports to the US, minus some exemptions, are subject to a 10-percent global tariff. This is lower than the 19-percent tariff imposed on such goods during the second half of last year.

Unlike countries that have negotiated tariff deals with the US, the Philippines remains at the whim of US President Donald Trump and his ever-unpredictable global trade agenda.

With the 2025 NTE report essentially shaping Trump’s tariff scheme last year, the USTR said the new 2026 report is no different, as it seeks to outline the US’ aim to rectify what it considers unfair trade practices of its trading partners.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think the government of the Philippines consistently fell short on wiping out corruption and improving the many processes? Is the Philippines the least transparent nation in Southeast Asia when it comes to international trade and foreign investments? Do you think the deep corruption of the Philippines will become a major campaign issue in the 2028 Presidential, National and Local elections? Do you think the Philippines’ hosting of the ASEAN Summit will make Filipinos complete forget about corruption?

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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Sister Port Agreement Between SBMA And Belgium Proposed

March 28, 2026March 26, 2026carlocarrasco

Recently inside the Subic Bay Freeport Zone, the Subic Bay Metropolitan Authority (SBMA) headed by its Chairman and Administrator Eduardo Jose L. Aliño hosted a delegation from the Embassy of Belgium led by Ambassador Vladislava Iordanova. During the visit, Aliño proposed to them a Sister Port Agreement between the Port of Subic and the Port of Antwerp-Bruges, according to the official announcement by the SBMA.

To put things in perspective, posted below is an excerpt from official announcement by the SBMA. Some parts in boldface…

A sister port agreement between the Port of Subic and the Port of Antwerp-Bruges is being considered during the visit of delegates from the Embassy of Belgium to the Philippines here on March 16, 2026.

Belgian Ambassador Her Excellency Vladislava Iordanova paid a visit along with officials from the Port of Antwerp-Bruges International (PoABI), the consultancy and investment subsidiary of the Port of Antwerp-Bruges.

During their visit, the Subic Bay Metropolitan Authority (SBMA) team, led by Chairman and Administrator Eduardo Jose L. Aliño, proposed a Sister Port Agreement between the two ports to enhance the traditional friendship between the SBMA and the PoABI.

The Port of Antwerp-Bruges is the largest petrochemical cluster in Europe and the second-largest in the world; it is also the largest car-handling port in Europe, handling more than 3 million cars per year. It has two oil refineries and is a frontrunner in the energy transition.

The port is also a driver of economic growth with 4.5% GDP contribution and a total annual throughput of +370 million tonnes, including +13 million TEUs.

Meanwhile, the Subic Bay Freeport has several locators with European Equity, including Agila NY Naval Inc. and Agila South Inc. from the Netherlands, with a combined investment commitment of US$350 million.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the proposed Sister Port Agreement between the SBMA and Belgium will eventually be approved in the near future? Do you think that better trade will happen between the Port of Subic and the Port of Antwerp-Bruges will be realized?

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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