business – Author Carlo Carrasco

Vietnam Attracts Almost 16 Million Foreign Tourists in First 8 Months of 2026

September 10, 2026September 4, 2026carlocarrasco

The tourism boom in Vietnam continued strongly as the nation successfully attracted almost sixteen million foreign tourists during the first eight months of 2026, 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…

Vietnam welcomed nearly 2 million international visitors in August, up 19.7% from July and 18.4% year-on-year, according to the Vietnam National Authority of Tourism.

In the first eight months of this year, the country received nearly 16 million foreign visitors, an increase of 14.4% from the same period in 2025 and equivalent to 63.6% of the full-year target.

The August figure is notable as the month is usually considered part of the low season for international tourism.

The result shows that the country’s tourism market continued to maintain and expand its appeal. Air travel remained the main mode of entry, accounting for 83% of international arrivals, while arrivals by road continued to increase, particularly from neighboring countries.

By region, Asia was still Vietnam’s largest source market, with about 11.8 million visitors in the eight-month period, making up nearly 74% of the total and increasing 7.4% year-on-year.

Europe recorded the strongest growth among major regions, at 53.4%, with about 2.68 million visitors.

Arrivals from the Americas reached around 887,000, up 20.7%, while those from Oceania rose 23.3% to nearly 489,000. Africa sent about 45,000 visitors to Vietnam, up 25.1%.

The tourism authority said the figures show that Vietnam is expanding its reach beyond nearby Asian markets, with strong growth from long-haul markets, helping diversify the visitor base and reduce dependence on individual markets.

By country, China remained Vietnam’s largest source market, with 3.54 million visitors, accounting for about 22.3% of the total. South Korea ranked second with approximately 2.76 million visitors, or 17.3%. Together, the two markets provided more than 6.3 million visitors, nearly 40% of the country’s total.

Russia ranked third with more than 1 million visitors, representing a year-on-year increase of about 165.7%, the highest growth among major source markets.

Other key markets also posted strong growth. Visitors from the U.S. increased 20.4%, Cambodia 41.5%, Japan 9.2%, the Philippines 58.8% and Australia 23.3%.

European markets continued to perform well, with arrivals from the U.K. rising 9.8%, France 13.4%, Germany 15.1%, Sweden 25.1%, Switzerland 27%, Poland 51.2% and the Czech Republic 28.2%. In Southeast Asia, tourists from Malaysia grew 20.5%, Singapore 31.7%, and Indonesia 26.7%.

India was another fast-growing market. The number of Indian visitors rose from just 102,000 in 2019 to more than 612,000 in the first eight months of 2026.

The expansion of direct air services between major Indian cities and Hanoi, Ho Chi Minh City, and Da Nang has helped make Vietnam more accessible to Indian travelers.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think Vietnam can attract at least 25 million foreign tourists by the end of this year? If you plan to visit Vietnam soon, what are your three main reasons for visiting?

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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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

I Love Israel: Manila-Tel Aviv Direct Flights to Launch in January 2027

September 10, 2026September 9, 2026carlocarrasco

Starting January 3, 2027, direct flights between Manila and Tel Aviv will launch with Israeli airline Arkia in-charge of the service, according to a news report by the Manila Bulletin. For many Filipinos who desired to visit the Holy Land in Israel, this is a dream that will come true and the new route is the first non-stop air link between the two major cities.

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

Filipinos can soon fly directly to Israel without making a stopover, as Israeli airline Arkia prepares to launch the first nonstop flights between Manila and Tel Aviv in January 2027.

The new route will begin on Jan. 3, 2027, with an initial service of one flight a week and a travel time of about 11 hours, according to Israeli Ambassador to the Philippines Dana Kursh.

For years, travelers between the Philippines and Israel have had to take connecting flights, with Dubai and Abu Dhabi among the main stopover points, while other options include connections through New Delhi, Bangkok, Seoul, and other Asian cities.

The new service will therefore provide the first nonstop air link between Manila and Tel Aviv.

Kursh welcomed the development in a Facebook post on Tuesday, Sept. 8, saying the route would bring the two countries closer after years without a direct connection.

“For the first time in many years, our two countries will be connected by a direct flight, bringing Israel and the Philippines closer than ever before,” she said.

The Israeli envoy said the new air link would go beyond making travel more convenient, as it could also open more opportunities for tourism, business, investment, and cultural exchanges.

“This is much more than a new flight route,” Kursh said.

“It is a bridge between our peoples, creating new opportunities for tourism, business, investment and cultural exchange, while making it easier for Israelis and Filipinos to discover each other’s beautiful countries,” she added.

The Department of Transportation had earlier pushed for direct flights between the Philippines and Israel, with officials saying improved air connectivity would help strengthen bilateral ties.

Kursh said she looked forward to welcoming more Israeli visitors to the Philippines while encouraging more Filipinos to discover Israel.

“I look forward to welcoming many more Israeli visitors to the Philippines and to seeing even more Filipinos discovering the beauty, diversity and warmth of Israel,” she said.

To all my readers, I encourage you to thank the Lord for this breakthrough of cooperation between Israel and the Philippines. Ambassador Dana Kursh is absolutely right by stating that the direct Manila-Tel Aviv air link is the bridge between Filipinos and the Israelis who will benefit from the new opportunities for tourism, business, investment and cultural exchange. For Filipinos who desire to visit the Holy Land to discover the holy sites, witness the Holy Bible come to life and deepen their faith in the Lord, the direct flights are absolutely golden.

I personally have a desire to return to Israel someday to spend quality with the Lord right there in the Holy Land. I love Israel and I believe strong in the biblical ties between Jews and Christians.

I encourage you all to pray to the Lord for this breakthrough to lead to more breakthroughs for both Filipinos and Israelis.

At the same time, I encourage you all to realize 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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Philippines GDP Growth Unlikely To Reach 6% In Medium Term

September 6, 2026September 1, 2026carlocarrasco

Several economic factors and the continued vulnerability to climate-driven shocks make it unlikely for the Philippines to achieve gross domestic product (GDP) growth of 6% in the medium term, according to a news report by BusinessWorld citing Moody’s Ratings.

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

MOODY’S RATINGS said the Philippines’ medium-term growth outlook seems bleak as its slow investment recovery and vulnerability to climate-driven shocks may derail its economic rebound.

In a statement following its latest rating action on the Philippines, the debt watcher said the country’s gross domestic product (GDP) growth is expected to hover below its pre-pandemic level of around 6% over the medium term.

“The Philippines’ medium-term growth will continue to be underpinned by favorable demographics, resilient remittances and service exports, and a gradual strengthening of investment as confidence recovers, with electronics and other goods exports providing a more marginal offset,” Moody’s Ratings said late on Monday.

“Even so, we expect medium-term potential to settle somewhat below the near-6% pace recorded before the pandemic, as investment recovers only gradually and the economy remains exposed to recurrent natural disasters and climate-related shocks,” it added.

Moody’s slashed its Philippine GDP growth forecast for this year to 3.6% from 5.5%. This falls near the bottom end of the government’s 3.5%-4.5% target for the year.

In the second quarter, GDP growth tumbled to a new post-pandemic low of 2.3%, bringing average growth to 2.6% in the first half.

The fourth consecutive quarter of slowing growth came as investments continued to reel from last year’s flood control corruption scandal, while rising prices amid the Middle East war squeezed household spending.

Moody’s Ratings noted that the Middle East war shocks and investment slump are “largely cyclical,” with an investment-driven recovery expected later this year.

“The recovery from the second half of 2026 should be led by a rebound in public investment as the government resumes stalled disbursements and normalizes spending execution,” it said.

Moody’s Ratings said that local investments should focus on public infrastructure and public-private partnerships, especially in renewable energy “as the country diversifies its energy mix in response to the recent shock.”

The government’s recent reforms should also eventually boost investment and productivity as their benefits are realized, the debt watcher said.

These include the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy Act, foreign investment liberalization, and allowing more private and foreign participation in sectors such as renewable energy.

By 2027, Moody’s Ratings expects GDP to expand by 5.3%, although still slower than its previous estimate of 5.6%.

Let me end this post by asking you readers: What is your reaction to this recent development? Are you convinced that the economy of the Philippines really does not have enough strength to achieve 6% GDP growth anytime soon? Do you think the current economic managers know what they are doing? Do you think there will absolutely be no economic gains from the Philippines’ hosting of the 2026 ASEAN Summit?

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’s 2026 Tourism Revenue Reaches $29.8 Billion as of August 22

September 5, 2026September 1, 2026carlocarrasco

Thailand, one of the leaders of tourism in Southeast Asia, saw its 2026 tourism revenue reach almost $30 billion as of August 22 and it has also attracted over twenty million foreign tourists along the way, according to a report by VnExpress.

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

Thailand, Southeast Asia’s second-most visited country after Malaysia, recorded tourism revenue of 984.32 billion baht (US$29.8 billion) between Jan. 1 and Aug. 22, down 2.9% year-on-year, amid a slowdown in tourist arrivals.

The top five sources of tourists contributing to this revenue were China, Malaysia, India, Russia, and South Korea, Nation Thailand reported.

The tourism-dependent country welcomed 20.32 million international visitors during the period, down 2.96% from the same period last year.

Once a tourism powerhouse in Southeast Asia, Thailand has faced a slowdown in foreign arrivals since last year amid growing concerns over kidnapping and visitor safety.

Safety concerns have intensified following the deaths of two Russian tourists and three members of a Thai family in Chon Buri Province earlier this month, Bangkok Post reported.

The recent kidnapping of a Chinese tourist, who managed to escape before being taken across the border into Myanmar, has renewed concerns over the safety of foreign visitors.

The Thai government has cut its forecast for Chinese arrivals in 2026 from 9 million to 7 million.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think Thailand’s tourism can somehow attract more foreign tourists and at least match their 2025 numbers? Do you consider Thailand a very safe place for foreigners? If you have visited Thailand before, did you get good value in return on your spending 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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Philippines 2026 Foreign Tourist Arrivals Reach 4.11 Million as of August, U.S. and South Korea Remain Top Markets

September 3, 2026September 2, 2026carlocarrasco

With the Peso performing terribly in the global currency market, weakening economic growth, high inflation and fears of an economic recession growing, 2026 has not been good for the Philippines. There is a bright spot in tourism, however, as the Philippines saw its 2026 foreign tourist arrivals reach 4.11 million in the January-August period and the United States and South Korea combined for more than 1.5 million tourist arrivals, according to a news article by the Philippine News Agency (PNA).

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

The Philippines has recorded 4.11 million foreign arrivals from January to August, higher by 3.7 percent compared to the same period last year, the Department of Tourism (DOT) said on Tuesday.

The United States posted the highest number of share at 818,318, followed by South Korea at 727,379, Japan at 350,191, China at 310,088, and Australia at 234,156.

Also making it in the top 10 source markets are Canada with 231,972, Taiwan with 154,957, the United Kingdom with 132,370, Singapore with 126,812, and India with 77,883.

Tourism Secretary Dita Angara-Mathay said the Philippines targets to surpass its 2025 arrival figures to reach between 6.4 million and 6.8 million, or at least 7 million, by the end of 2026.

To achieve this, she said the DOT is intensifying its branding and promotions to reach more tourists in its key source markets.

The DOT is also in active talks with airlines to open up and establish more chartered flights between the Philippines and secondary cities of Korea and China.

DOT Assistant Secretary Ren Sapitan said the agency is also set to sign a contract with a creative agency in November to broaden the country’s marketing efforts and make the Philippines more visible worldwide.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Philippines will be able to exceed the 2025 foreign tourist arrivals number by the end of this year? Do you think the DOT is doing a good job to strengthen the Philippines’ attraction of foreign tourists? Considering the Top 10 markets of foreign tourists the Philippines attracted so far, are you convinced that the nation’s hosting of the Association of Southeast Asian Nations (ASEAN) Summit did not create any positive tourism results?

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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Moody’s Analytics Cuts Philippines 2026 GDP Growth Forecast to 3%

September 1, 2026August 27, 2026carlocarrasco

By citing key factors like weak consumption, Middle East oil shock and the collapse in private investment, Moody’s Analytics officially slashed its 2026 gross domestic product (GDP) growth forecast for the Philippines to 3%, according to a news report by BusinessWorld.

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

MOODY’S ANALYTICS slashed its 2026 growth forecast for the Philippines, amid weak consumption and a collapse in private investment.

In its latest Asia-Pacific Outlook report dated Aug. 24, the analytics firm said it now sees Philippine gross domestic product (GDP) expanding by 3% this year, slower than its 4% projection in June.

“We lowered our 2026 GDP growth forecast to 3% from 4% in the June vintage after incorporating the second-quarter GDP result, which was far weaker than expected,” Moody’s Analytics Assistant Director and Economist Sarah Tan said in an e-mailed reply to questions.

The Philippine economy slumped to its worst post-pandemic growth of 2.3% in the April-to-June period, as investments and public construction continued to reel from last year’s flood control corruption scandal. Rising prices from the Middle East war-driven oil shock also strained household spending.

“The economy expanded by just 2.3% year on year, with private consumption showing notable weakness and private investment collapsing,” Ms. Tan noted. “This points to softer underlying domestic demand than we had previously anticipated.”

As of the first half of 2026, the country’s GDP growth averaged 2.6%, well below the government’s 3.5%-4.5% full-year target.

If Moody’s Analytics’ forecast holds true, the government will miss its growth target for a fourth year in a row. The economy would also further soften from last year’s post-pandemic low growth of 4.4%.

Economists earlier said that reaching even the bottom end of the government’s target entails a steep climb, as it means the economy must grow by at least 4.4% in the second half.

Moody’s Analytics sees growth recovering over the next two years to 4.6% in 2027 and 5.1% in 2028. The government wants full-year expansion to be between 5% and 6% from 2027 to 2030.

Meanwhile, GlobalSource Partners Country Analyst Diwa C. Guinigundo noted that the Philippines could face a more complicated path toward fiscal consolidation if growth remains below potential.

“Slower growth would make fiscal consolidation and debt reduction more difficult,” he said in a Viber message. “The issue is not simply that government revenues would grow more slowly; a weaker economy also means a smaller denominator for the debt-to-GDP ratio.”

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think 2026 will end up as a very disappointing year of economic growth for the Philippines? Do you think the economy of the Philippines could still fall into a recession in 2027 or in the first half of 2028? Are you convinced that the Philippines has nothing to gain economically from hosting the ASEAN Summit?

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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Tourism Industry of Vietnam Shifts Focus From Visitor Numbers to Spending

August 29, 2026August 24, 2026carlocarrasco

As it enjoys the many benefits of the ongoing tourism boom, Vietnam now has the opportunity to truly build itself up economically by means of long-term investments and creating new jobs. That said, the tourism industry of the nation has shifted focus from attracting visitors to higher spending, longer stays and other economic opportunities, 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…

Vietnam is shifting tourism growth from attracting more visitors to generating greater value from each trip, with a focus on higher spending, longer stays, green development, technology application and cultural experiences.

The country aims to welcome 45-50 million international visitors and 160 million domestic tourists by 2030, Do Cam Tho, head of the Planning and Finance Division at the Vietnam National Authority of Tourism (VNAT) under the Ministry of Culture, Sports and Tourism, said at HORECFEX Vietnam 2026, a major hospitality and tourism forum.

She said 2026-27 would be a pivotal period in shifting tourism development from expansion in scale to deeper value creation.

Vietnam welcomed 21.2 million international visitors and 137 million domestic tourists in 2025, with total tourism revenue estimated at around VND1 quadrillion ($38.1 billion).

In the first seven months of 2026, the country received nearly 13.92 million foreign tourists, up 13.8% year on year, while domestic visitors numbered about 98 million, with tourism revenue of 675 trillion VND.

International visitors currently spend an average of US$1,200-1,400 per trip in Vietnam, while domestic tourists about 2.4-2.6 million VND (US$92-99).

About 70% of foreign visitors come from China, the Republic of Korea, Japan and Taiwan (China), while markets with higher spending power, including the Middle East, Northern Europe, North America and Australia, still account for relatively small shares.

Tourism is receiving greater attention as Vietnam seeks to achieve rapid national development and make tourism a spearhead economic sector, Tho was quoted by Tuoi Tre (Youth) newspaper as saying.

Under the proposed approach, Vietnam targets total tourism revenue of $80-90 billion by 2030. The country is expected to have about 1.5 million accommodation rooms and tourism is projected to create around 5.8 million direct and indirect jobs.

Among three development scenarios for 2030, the most ambitious targets annual international visitor growth of 15-18%. Achieving it will require institutional reforms, development of the night-time economy, diversification of high-end markets and measures to increase visitor spending.

VNAT said Vietnam will continue to consolidate Northeast Asian and ASEAN markets while expanding into Europe, North America, Australia and other markets with high spending capacity and longer stays.

India, the Gulf Cooperation Council (GCC) countries, Russia and Muslim markets have been identified as areas with significant growth potential.

For domestic tourism, the focus will shift from boosting visitor numbers to encouraging higher spending, with an emphasis on two- to three-day weekend getaways, high-end Meetings, Incentives, Conferences and Exhibitions (MICE) tourism, family vacations and night-time tourism.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think Vietnam’s tourism industry players are fully prepared to make the most of the economic benefits that come with surging foreign and domestic tourism? Do you think new investments related with the tourism boom will be made soon in Vietnam? How many millions of new jobs do you think will be created in Vietnam as a result of the tourism boom?

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 Offers Exemptions and Incentives for P7 Billion Subic Bay International Airport Modernization

August 27, 2026August 21, 2026carlocarrasco

The Public-Private Partnership (PPP) Center confirmed that the company that wins the bid for the P7 billion Subic Bay International Airport (SBIA) project will receive exemptions and incentives that include exemptions from national and local taxes, according to a news report by the Manila Bulletin.

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

The winning bidder for the ₱7-billion concession to transform Subic Bay International Airport (SBIA) into a world-class logistics hub will receive a generous government incentives package, including national and local tax exemptions.

The Public-Private Partnership (PPP) Center noted that the project’s implementing agency, the Subic Bay Metropolitan Authority (SBMA), will offer a competitive slate of incentives to support long-term private investment.

Under the Special Corporate Income Tax (SCIT) regime, the winning operator may qualify for a five percent corporate income tax rate for up to 16 years, with the possibility of an extension subject to eligibility requirements.

As long as it is registered as an export enterprise with the SBMA, the concessionaire will be exempt from all national and local taxes under the SCIT regime.

It may also enjoy exemptions from customs duties and value-added tax (VAT) on imports, along with zero-rated VAT on qualified local purchases.

Beyond fiscal incentives, the project also opens up commercial opportunities outside standard airport operations. The operator can generate additional revenue through cargo handling, warehousing, commercial leasing, logistics services, and other non-aeronautical ventures.

“The SBIA project offers a compelling opportunity for the private sector to partner with the government in developing one of the Philippines’ most strategic aviation and logistics gateways,” the PPP Center said in a statement.

The SBMA recently launched a comparative challenge for the airport’s modernization and expansion, which originated from an unsolicited proposal by United States-based Cerberus Asia Pacific Investments LLC.

Under this process, interested firms may submit competing offers against the original proposal. As the original proponent, Cerberus retains the right to match or beat the best offer.

Cerberus, which has assets across transportation, real estate, and other sectors, wants to manage the SBIA under a 25-year operate-rehabilitate-add-transfer (ORAT) scheme, with an investment cost of around ₱7 billion.

The concession aims to develop the gateway, located northwest of Manila, into a strategic cargo and logistics hub that would help ease congestion at Ninoy Aquino International Airport (NAIA), especially as demand for air cargo continues to grow.

The project will focus on upgrading existing airport facilities to align them with international standards, alongside the development of new facilities to transform the airport into a higher-capacity logistics hub.

The SBIA is poised to support logistics and aviation growth through the development of the airport’s midway apron, which will consist of two warehouse buildings with a total floor area of 22,400 square meters (sqm) and a 32,000-sqm aircraft staging and parking area.

The north airport land development, meanwhile, covers an additional 88,000 sqm across four parcels of land for warehouse facilities, a hangar, a storage facility, and additional apron space.

To ensure proper development of the project, SBMA will assist the private partner in securing the necessary approvals for implementation and facilitating permits and regulatory coordination.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Subic Bay International Airport project will attract a lot of bidders from overseas? Do you believe the modernization of SBIA will add a lot to the economy of the Philippines in the long-term?

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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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Availability of Cashless Payment Services for Children in Japan Grows

August 25, 2026August 21, 2026carlocarrasco

The number of cashless payment services for children in Japan is growing and already parents have the means to check their kids’ spending history and balances using digital means, according to a news article by Jiji Press.

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

Cashless payment services for children are increasingly available in Japan, allowing parents to check their children’s balances and spending history through an app to prevent excessive spending.

They are also attracting attention as a financial education tool that helps children learn how to manage their allowances and spend money systematically as Japan becomes increasingly cashless.

In July, Seven Bank began offering a prepaid card and a dedicated app for children aged 6 or older. Parents can load their children’s allowance onto the card via the app and review their spending history.

Notifications are sent whenever the card is used. The app has a feature to send money to children as a reward for achieving goals, such as completing chores.

Let me end this piece by asking you readers: What is your reaction to this development? What is your opinion about having more cashless payment services for children? Do you think the said services will help them become more financially literate and also more disciplined on handling their money?

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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BCDA To Ensure Philippines Will Benefit A Lot From Pax Silica

August 24, 2026August 19, 2026carlocarrasco

The Bases Conversion and Development Authority (BCDA) recently announced that it will ensure the Philippines will benefit a lot from the ambitious Pax Silica project as they negotiate with the United States on the final framework, according to a GMA News report.

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

The Bases Conversion and Development Authority (BCDA) on Wednesday said it will ensure that the Philippine side, negotiating with the US on the final framework agreement to hit the ground running for the Pax Silica project in New Clark City, Tarlac, will push for a deal that would be most beneficial for the country.

At the Kapihan sa Manila Hotel, BCDA President and CEO Joshua “Jake” Bingcang said that the government is eyeing to sign the comprehensive framework agreement for the Pax Silica initiative with the US by November.

However, Bingcang admitted that “negotiations can always take longer,” noting that the target signing “is not cast in stone as long as the two [parties] will come up with mutually agreed arrangement.”

Nevertheless, the BCDA chief said the Philippines is pushing for terms that would “most beneficial sa’tin (to us)” as negotiations for the framework deal are ongoing.

“It’s a business contract, normally it is favorable to the host country,” he said.

Bingcang said the government has also made clear that the project will operate under the BCDA’s governing legal framework and applicable investment laws.

“It would be covered by two Philippine laws —the BCDA law and CREATE MORE so the incentives provided will be covered by these two laws,” he said.

“Never in that initial arrangement that we are going to adopt anything other than the two laws,” he added.

Pax Silica is the US Department of State’s flagship initiative on artificial intelligence and supply chain security, aimed at advancing a new economic security framework among allies and trusted partners.

The Philippines in April officially joined the Pax Silica initiative, cementing its place among other 23 global signatories, including the European Union, Japan, India, Singapore, South Korea, and the United Kingdom.

As part of the initiative, Manila and Washington are working to establish a 4,000-acre industrial hub that is envisioned as a new model for AI-focused investment within the Luzon Economic Corridor.

The BCDA chief earlier clarified that the Pax Silica hub is not envisioned as a cluster of hyperscale data centers but as an industrial hub that would include the manufacturing of semiconductors and microchips used in computers, laptops, electric vehicles, and other technologies.

Bingcang said that through Pax Silica, the Philippines and its partners see an opportunity to process raw materials domestically instead of exporting them in unprocessed form.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you feel confident that the BCDA will be able to secure an agreement with the Americans to ensure the Philippines will benefit from Pax Silica economically? Do you realize Pax Silica’s potential to boost manufacturing jobs and the processing of raw of materials 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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