business – Page 52 – Author Carlo Carrasco

I Love Israel: Israel shares to the Philippines water management solutions

November 29, 2022November 25, 2022carlocarrasco

In recent times, the State of Israel engaged with the Philippines on managing water which is clearly an essential resource, according to a Manila Times news article. Israel’s Ambassador to the Philippines Ilan Fluss spoke at the meeting.

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

ISRAEL is offering innovative solutions to help the Philippines improve water resource management and conservation.

Israel’s Agency for International Development Cooperation and the United States Agency for International Aid shared with the Philippine government and local water concessionaires in the Philippines the expertise and experience of Israel on water resource management.

“Israel invested in technology to support the growing demand and urbanization in the country,” said Israeli Ambassador to the Philippines Ilan Fluss during a recent seminar.

The technologies, he said, “were introduced together with good policies and regulations that made Israel the leading country in the world in managing the water sector.“

“From desalination to reuse of sewage, minimum loss of water and more,” the ambassador said.

“Through this seminar, we hope that the Philippines’ key implementing agencies will gain insights from the Israeli experience and adapt them to local conditions,” he added.

He noted that Israel faced challenges in water conservation and management. The Middle East is a dry area and more than 50 percent of “Israel is actually desert,” he said.

The Israeli Embassy in Manila said National Water Resources Board Director Susan Abano shared the challenges that the Philippines faces as water availability continues to fall due to rising demand.

The embassy said that engineers Rodel Rik Tumanda and Jon Michael Esteban of Maynilad and Manila Water, respectively, as well as Metropolitan Waterworks and Sewerage System chief regulator Patrick Ty presented their perspectives on managing water scarcity.

“These were analyzed by the Israeli water delegation and presented advanced solutions to better manage the water sector of the country,” the embassy said in a statement.

“The Israeli companies highlighted Israel’s innovation and technology to inspire and encourage the Philippine water sector, businesses and local government units to invest in technologies that will help manage water sustainably,” it added.

Among the Israeli companies who presented their water technologies were ARAD Group, Atlantium, Okiana and Watergen.

For the newcomers reading this, Israel is known for innovation not only with technology and agriculture but also in water management and the development of new sources of water. Constant problems of water supply and resource handling here in the Philippines are not new anymore and the assistance we got from Israel is crucial. This is something we have to be very thankful to our Lord for and we should pray that the Philippine water stakeholders who attended the reported meeting will put into action what they learned from their Israeli counterparts so that water management in the country will be improved.

If you truly believe in Lord Jesus, the Holy Spirit and God the Heavenly Father wholeheartedly and you continue to be faithful (not religious), you should be aware that Christians are meant to stand united with Israel 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! Always stand in support of Israel!

In ending this I Love Israel piece, posted below are Israel-related videos for your viewing pleasure and enlightenment.

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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 @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

What to watch on YouTube right now – Part 4

November 28, 2022November 24, 2022carlocarrasco

Have you been searching for something fun or interesting to watch on YouTube? Do you feel bored right now and you crave for something to see on the world’s most popular online video destination?

I recommend you watch the following videos below…

#1 McDonald’s struggles in certain nations – Have you eaten at a McDonald’s lately? The fast food giant is indeed highly successful serving many millions of customers worldwide and constantly making a lot of money. There are, however, specific nations where McDonald’s could not succeed in and for a wide variety of reasons. Watch these selected videos below…

#2 Looking back at Marvel Comics’ 2099 franchise – The 1990s was a decade of excess in the history of American comic book publishing, particularly with regards to superhero comics. During the height of the comic book speculator boom, Marvel Comics launched a new comic book universe set within one possible future of Marvel’s shared universe – the future was referred to as 2099. For the newcomers reading this, I myself had published several retro comic book reviews regarding Spider-Man 2099, X-Men 2099, Punisher 2099 and Ravage 2099. To find out more about the history about Marvel’s 2099 line of comics and the legacy it left behind, watch the video below.

#3 Ashleigh Burton’s reaction videos of Stallone movies – For this segment, we take a look at the existing movie reaction videos Ashleigh Burton made related to films that starred the famous Sylvester Stallone. In reality, she actually has published a few Stallone-related reaction videos and she still has yet to react to a Rambo movie and other flicks from Stallone’s career. Watch the videos below and don’t forget to visit her YouTube channel.

#4 Worship video of Now I’m Alive – I love the worship song Now I’m Alive from New Life Music. Written by Faith Tugano, Kate Naranjo and Solomon Pagapong, Now I’m Alive is a beautiful and engaging song to worship the Lord with. You can read my Christian Music Appreciation (CMA) piece about Now I’m Alive by clicking right here. I encourage you all to visit New Life Music on Facebook and YouTube. Watch the worship video of Now I’m Alive posted below.

#5 More of Unsolved Mysteries (hosted by Robert Stack) – If you are a long-time fan of the classic Unsolved Mysteries TV program hosted by the late Robert Stack and you wanted to revisit it, you can watch the episodes for free through the Unsolved Mysteries – Full Episodes YouTube channel. For a taste, posted below are assorted episodes of the 2^nd season of Unsolved Mysteries.

#6 Looking back at Jaws 3 (AKA Jaws 3-D) – Way back in 1983, I got to watch Jaws 3 in the cinema in 3D (wearing the 3D glasses to see the 3D effects from screen) which was a privilege back then. Being a young boy at the time, I enjoyed it and there was nothing like being seated in the middle of a large audience who reacted emotionally towards what they saw. Of course, it is clear to everyone today that Jaws 3 is one of weakest films of the Jaws movie franchise (which started with Steven Spielberg’s 1975 classic) and I noticed some people found it to be really bad. Still, there is a lot of interesting stuff to discover about it and how Jaws 3 got made. If you are curious to learn about the third Jaws movie, I encourage you to watch the videos below.

#7 More details about the FTX financial disaster and Sam Bankman-Fried – The news about the FTX financial disaster is still hot and Samuel Bankman-Fried has a lot of explaining to do. It is indeed tragic to lose all your wealth and investments because of FTX. In recent times, there were new details revealed that will help you understand why and how the FTX financial disaster happened. Financial tragedies like this one should make you think very carefully before making an investment with anything related to cryptocurrency. Watch the videos below.

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New Regus workspace facility opening soon in Las Piñas City

November 24, 2022November 22, 2022carlocarrasco

If you are looking additional space for work in Las Piñas City, a new workspace center (coworking space) by Regus will soon be established inside the Colours Town Center along Alabang-Zapote Road (by the corner of Marcos Alvarez Avenue) as a result of an agreement signed, according to a BusinessWorld news report.

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

INTERNATIONAL Workspace Group (IWG) recently inked a 10-year management agreement with Kyleson, Inc. to open a Regus franchise center in Las Piñas City.

The flexible workspace center, located within the Colours Town Center, will have 195 workstations and 1,200 square meters (sq.m.) of co-working desks, meeting rooms, and private offices. This will be the 26th Regus center in the Philippines.

“Our partnership with Colours Town Center combines our more than 30 years track record in equipping workspaces with the infrastructure and support services with ideal, modern locations to ensure employees experience the benefits of working wherever is most convenient for them without sacrificing productivity, or the benefits of collaboration,” Lars Wittig, IWG country manager, said in a statement.

Mr. Wittig noted worker preferences across Asia Pacific are shifting in favor of hybrid working, and companies that fail to adopt may lose their best workers.

“Adopting flexible working arrangements is crucial to business sustainability and long-term resilience,” he added.

Let me end this piece by asking you readers: If you are a Las Piñas City resident, what is your reaction to this new development? Are you excited learning that a new Regus coworking facility will be opened within the city? Do you consider Las Piñas City to be lacking of suitable office work space?

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 and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. If you want to support my website, please consider making a donation. 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 @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco/.

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 engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

President Marcos reaches out to France for strategic partnership on nuclear energy

November 23, 2022November 21, 2022carlocarrasco

As you should know by now, I personally favor the use of nuclear power as a key source of abundant energy for the entire Philippines (read my posts by clicking here and here). Nuclear power can produce very high amounts of energy required to power the economy and society and there is no way that solar and wind power could achieve that. Nuclear energy is the answer for the energy requirements of the Philippines and I am really glad that President Ferdinand “Bongbong” Marcos, Jr., reached out to French President Emmanuel Macron and specifically sought nuclear energy partnership during their high-level talk recently in Thailand, as reported by the Philippine Star.

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

President Ferdinand Marcos Jr. said he sought a partnership with France on nuclear energy during a bilateral meeting with French President Emmanuel Macron at the sidelines of the Asia-Pacific Economic Cooperation Summit in Thailand.

“I’m very confident that it will be a strong partnership simply because they have up to 67 percent of their power production is from nuclear energy so they are very, very used to it,” Marcos said, according to a release from Malacañang.

Marcos said he wanted to talk to Macron about energy because of France’s use of nuclear power, a controversial energy source that the Philippine president had long advocated for.

On the campaign trail, Marcos said the Philippines should look into reviving the 621-megawatt Bataan Nuclear Power Plant — a venture by his despot father and namesake which was mothballed in 1986 because of safety concerns.

During his first State of the Nation Address, Marcos reiterated his determination to adopt nuclear power, saying “it is time to re-examine our strategy towards building nuclear power plants.”

For some added insight into the Marcos-Macron meeting, watch the videos below…

In my honest opinion, it is high-time for the Philippines to move forward with enhancing the entire national power grid by using nuclear power. To invest tons of money on wind and solar power will only produce minimal new energy and the fact remains that the said two types of energy are unreliable. On the social aspect of nuclear energy, I encourage my fellow Filipinos reading this to stop being fearful about anything nuclear and pay close attention to the latest in nuclear power technology, specifically with small modular reactors (SMRs). Learn about them by clicking here and here.

Let me end this piece by asking you readers: What is your reaction to this recent development about the Philippines reaching out to France for a nuclear power partnership? Are you glad that President Marcos specifically sought partnership during his bilateral talk with the President of France?

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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What to watch on YouTube right now – Part 3

November 22, 2022November 24, 2022carlocarrasco

Have you been searching for something fun, enlightening or interesting to watch on YouTube? Do you feel bored right now and you crave for something to see on the world’s most popular online video destination?

I recommend you watch the following videos below…

#1 Worship videos of “O Praise The Name (Anástasis)” – I love the worship song O Praise The Name (Anástasis) written by Marty Sampson, Benjamin Hastings and Dean Ussher, and published by Hillsong Music. Its lyrics were clearly written to lead people to the Lord and to encourage them to worship Him. One of these days, I will do a Christian Music Appreciation (CMA) piece of the worship song. For those who are reading this, watch the worship videos below from Hillsong Worship, Hillsong United and Bethel Music. This could also be the worship song your local church could play on Sunday worship services.

#2 The history of Secret Wars – In the history of American superhero comics, the Secret Wars (full title: Marvel Super Heroes Secret Wars) series of 1984-1985 remains highly significant not just because it featured a unique gathering of selected superheroes and super villains of Marvel (then led by Jim Shooter as editor-in-chief) but also because of the creative impact it left behind especially with regards to Spider-Man stories and the eventual debut of his deadliest villain – Venom. Secret Wars also marked the debut of the Beyonder, a god-like entity who would impact the Marvel Comics universe later. Apart from its enduring legacy, there were also some notable things that happened behind the scenes leading to the publishing. Watch and learn from the video below.

#3 Ashleigh Burton’s reaction videos of Schwarzenegger movies – For this segment, we take a look at how Ashleigh Burton reacts to movies of the famous Arnold Schwarzenegger. She reacted to two Terminator flicks and Predator which are Schwarzenegger classic but she still has yet to do a Total Recall (1990) video. I urge you to visit her YouTube channel.

#4 Fashion versus videos – If you have not been following the videos published by SHIFT online, there are these versus-type of videos they released on their YouTube channel. Months ago, they published videos pitting popular models in key match-ups and they are posted below for your viewing pleasure.

#5 Looking back at Steven Spielberg’s Jurassic Park – Are you one of the many moviegoers out there who have gotten upset or tired with the way that Jurassic Park movies turned out, especially with the Jurassic World movies released since 2015? I noticed a lot of movie fans pointed to Jurassic World movies as dumb and bloated even as the filmmakers did what they could to sell dinosaurs and action sequences to entertain people. In times like these, it is refreshing to return to the original Jurassic Park movie of 1993 directed by Steven Spielberg. Watch the following movie reaction/review videos below plus a trivia video and an in-depth retrospective video.

#6 The FTX financial disaster – You heard the recent news about the major disaster of FTX that rocked the financial systems? Are you one of the many people who idolized Sam Bankman-Fried (SBF)? Did you pour your hard-earned money into the FTX cryptocurrency exchange and lost it all? Watch this video by Coldfusion to understand the details.

#7 The struggle of Starbucks Coffee in Vietnam and South Africa – Previously I posted a video about Starbucks’ own struggle in Australia whose coffee market has been highly developed long before the American coffee giant entered. There are also two notable markets where Starbucks also struggled in – Vietnam and South Africa. Watch the videos below to find out why. This is not only interesting but also educational.

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Kadiwa bazaar in Muntinlupa City nets over P530,000 in first two days

November 18, 2022November 17, 2022carlocarrasco

In the progressive city of Muntinlupa, the Kadiwa bazaar held at the quadrangle at City Hall generated over P530,000 in sales in the first two days, according to a Manila Bulletin news report. The said bazaar is a special project involving the City Government, the Department of Trade and Industry (DTI), the Department of Agriculture (DAR), and the Department of Social Welfare and Development (DSWD).

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

The two-day Kadiwa Christmas bazaar at the Muntinlupa City hall quadrangle generated nearly P536,000 in sales to sellers.

The Kadiwa bazaar, an initiative of the Department of Agriculture in partnership with the Muntinlupa City government, Department of Trade and Industry, and Department of Social Welfare and Development, was held on Nov. 15 and 16.

Showcasing different Muntinlupa-made products, the Kadiwa bazaar was launched by Mayor Ruffy Biazon and DTI Asst. Sec. Dominic Tolentino on Nov. 15.

According to Biazon, “Gusto natin ma-promote ang produkto ng Lungsod ng Muntinlupa, dahil tayo ay proud (We want to promote Muntinlupa-made products because we are very proud of them).”

“Ang sagot sa kaunlaran ay nagkakaisang mamamayan (A united citizenry contributes to a progressive economy),” said Tolentino, a Muntinlupa resident.

On the first day, the bazaar generated P326,421 in sales and P209,223 on Nov. 16 for a total of P535,644 in two days.

Other officials at the launch of KADIWA were City Administrator Allan Cachuela, DA-ESO head Marilou Lobo, Alabang Central Market Administrator Randy Garcia, and Cristine Evangelista of DTI.

Let me end this piece by asking you readers: If you are a Muntinlupa City resident, what is your reaction to this development? Do you want to see more bazaars in the city selling more Muntinlupa-made products? Are you more confident now to spend time in bazaars or shopping centers knowing that COVID-19 can be avoided? Are the recent news reports highlighting the Department of Health’s (DOH) recent statements about COVID-19 infections making you afraid to go out?

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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Maynilad officially distributing “New Water” in two barangays in Parañaque City

November 16, 2022November 15, 2022carlocarrasco

Months after the launch of their “New Water” project, water concessionaire Maynilad has finally started the distribution of the said water in two barangays within the City of Parañaque according to the company’s official announcement.

To put things in perspective, posted below is an excerpt from Maynilad’s official announcement. Some parts in boldface…

West Zone concessionaire Maynilad Water Services, Inc. (Maynilad) recently started the piped-in distribution of its New Water—or potable supply sourced from treated used water—to two barangays in Parañaque City following its receipt of a Conditional Operational Permit (COP) from the Department of Health (DOH) Metro Manila Center for Health Development.

The COP was issued by the DOH after New Water passed a series of tests that proved its adherence to the Philippine National Standards for Drinking Water (PNSDW) and squarely met the World Health Organization (WHO) guidelines on potable reuse. The permit is valid for 12 months, and will be changed to a permanent permit once Maynilad consistently meets all the conditions set in the COP on the supply of New Water within the period, under the strict monitoring of DOH. Prior to the COP issuance, New Water has already been given a Certificate of Potability by the Parañaque City Health Office.

Maynilad’s New Water is the first implementation of potable water reuse in the Philippines.

“The DOH’s issuance of a permit to commence piped-in distribution of New Water is a major milestone for the local water industry, as this is the first time that recycled water will be tapped as an alternative supply source to address water shortages,” said Maynilad President and CEO Ramoncito S. Fernandez, noting that the recycling of water for potable use is a practice that has been in place for decades in other countries, such as Singapore, Namibia, and parts of the United States.

Maynilad’s Php450-million “New Water Treatment Plant” gets the treated used water discharged by its Parañaque Water Reclamation Facility and converts it to drinkable water supply. The facility’s 10-MLD (million liters per day) output is blended with the supply produced by the company’s La Mesa Treatment Plants before conveyance to Barangays San Isidro and San Dionisio in Parañaque City.

Fernandez said that Maynilad is eyeing to construct four more “New Water Treatment Plants” by 2025, which will get treated used water from the company’s sewage treatment plants in Pasay, Muntinlupa, Parañaque, and Valenzuela.

Let me end this piece by asking you readers: If you are a Maynilad customer based in Parañaque City, does this New Water distribution news make you forget about the other problems you have with the water concessionaire? Do you think that Maynilad’s New Water project will solve public demand for drinking water? If you are running a business that sells water to customers who need to drink, how do you think Maynilad’s New Water project will affect your business? Do you think Maynilad will distribute New Water all over Parañaque City within the next six months? Has anyone linked with the City Government of Parañaque given you the false impression that the New Water project belonged to the City Government?

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 @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/and on Instagram athttps://www.instagram.com/authorcarlocarrasco

What to watch on YouTube right now – Part 2

November 15, 2022November 18, 2022carlocarrasco

Have you been searching for something fun or interesting to watch on YouTube? Do you feel bored right now and you crave for something to see on the world’s most popular online video destination?

I recommend you watch the following videos below…

#1 Minty Comedic Arts’ entertainment trivia videos – I don’t know with you but I enjoy the entertaining approach by Australia-based YouTuber Minty Comedic Arts on explaining trivia related to entertainment. He does his research online, utilizes available content related to the subject matter and does his thing on explaining trivia. He can be quite funny to watch. To start with, watch his videos about The Blob (1958), Friday The 13^th Part 3 (1982) and Ghostbusters (1984).

#2 Worship music videos of Planetshakers – For the newcomers reading this, Planetshakers is a Christian church based in Australia and their very anointed music team produced a lot of original worship songs and music videos that are all engaging for those who need to come to the Lord. Planetshakers’ has always been successful in leading the praise of the Lord and you should read about my Planetshakers worship event experience by clicking here. I should also state that prayers led by Pastor Sam Evans are always powerful and deeply compelling for your faith. Remember that Jesus is the Lord and Savior! That being said, posted below for you are worship music videos of Planetshakers.

#3 More Ashleigh Burton reaction videos – I always enjoy watching Ashleigh Burton’s movie reaction videos as her style, approach and ways of reacting are fun to see. Posted are more for your entertainment. There is a lot to enjoy on her YouTube channel.

#4 Wind and solar power are truly UNRELIABLE – Let’s be clear here. Renewable forms of energy such as solar and wind are truly unreliable and they cannot provide the abundant amount of energy needed by the people, businesses and societies in general. Fossil fuel is polluting but it is more reliable as it can produce abundant energy. Wind and solar power are, at best, additive forms of energy. Learn from the videos below.

#5 Looking back at Xenogears – If you were an avid console gamer back in the 1990s who had a PlayStation and you were focused on Japanese role-playing games (JRPGs), chances are you would have at least heard of Xenogears from Squaresoft (Square Enix’s previous name). While it did not come close to the Final Fantasy games of the time in terms of commercial and critical success, Xenogears remains highly memorable for those who played it and it still has a dedicated following to this day. I myself played Xenogears on my PlayStation in 1998 but I never got to finish it. As such, I would really love it if Square Enix would remaster the game and release it on the Xbox ecosystem (including Windows PC) someday. The production history of Xenogears alone is astonishing to research. Watch the videos below.

#6 X-Men: Fatal Attractions revisited – The 1990s was a wild time when it comes to reading superhero comic books. Apart from the sudden rise of Image Comics and other smaller publishers who collectively gave Marvel and DC a challenge in the market, there was also the comic book speculator boom, a rise of crossover storytelling and the sudden need by certain comic book creators to change the status quo on the franchises they worked on. In 1993, Marvel Comics celebrated the 30^th anniversary of the X-Men and creators who handled the X-Men-related comic books came up with the Fatal Attractions storyline. Fatal Attractions was not exactly a crossover tale, but it had central themes and elements – notably the return of Magneto from his “death” – that affected the X-Men-related monthly comic books of the time. Read my retro reviews here, here and here. Watch the videos below.

#7 Games coming to Xbox in 2023 – If you are an Xbox gamer who has been disappointed with the lack of big-time Xbox-exclusive games this year, then your disappointment will end as a fine mix of exclusive and 3^rd party games will come to Xbox platforms and some of them will come to the Xbox Game Pass (XGP) service. Watch the videos below.

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“Hired on the Spot” employment program in effect in Las Piñas City

November 15, 2022November 14, 2022carlocarrasco

In the City of Las Piñas, a special program was recently launched to provide employment to local workers who were displaced by the pandemic, according to a Manila Bulletin news report.

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

The Las Piñas Public Employment Service Office (PESO) conducted house interviews as part of its weekly employment facilitation program called “Hired on the Spot” on Monday, Nov. 14.

Mayor Imelda Aguilar said the “Hired on the Spot” program is being conducted by PESO, in coordination with the Department of Labor and Employment (DOLE), with the goal of ensuring prompt and efficient delivery of employment facilitation services.

Aguilar said the program also aims to provide employment to workers displaced by the pandemic, particularly to Las Piñas residents.

She said over 150 applicants send their resume daily to PESO and around 40 percent of the applicants get hired on the spot.

The mayor said that in addition to PESO house interviews, booths are also set-up in the city’s different barangays and partner establishments.

Let me end this piece by asking you readers: If you are a resident of Las Piñas City, what is your reaction to this development? Did you notice if the number of members of your local community remained unemployed? Do you consider unemployment a major problem in your city right now?

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 economy grew 7.6% in the 3rd quarter

November 14, 2022November 10, 2022carlocarrasco

You may not feel it but the economy of the Philippines grew by 7.6% in the 3^rd quarter this year according to the recent announcement published by the Philippine News Agency (PNA). This is very encouraging news following the recent report of the falling unemployment in the country. Indeed, the nation continues to rise after suffering from the COVID-19 crisis’ downturn.

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

The Philippine economy grew at a faster rate in the third quarter of the year at 7.6 percent, higher than the revised gross domestic product (GDP) growth in the second quarter at 7.5 percent, the Philippine Statistics Authority (PSA) reported Thursday.

In a press conference, PSA Undersecretary Dennis Mapa said this is the sixth consecutive quarter that the economy recorded expansion.

The country’s GDP growth from July to September 2022 is also higher than the 7-percent increase in the same period in 2021.

“The third quarter’s GDP exceeded the median analyst forecast of 6.3 percent,” National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said.

Balisacan said the average GDP growth for the first nine months of the year stood at 7.7 percent.

“With this, we are on track to achieving the government’s growth target of 6.5 to 7.5 percent for 2022. Given the latest GDP outturn, our economy needs to grow by 3.3 to 6.9 percent in the fourth quarter,” he said.

The PSA reported that all major industries improved their performance in the third quarter of 2022 compared to the same period last year, with agriculture, forestry and fishing growing by 2.2 percent; industry, rose to 5.8 percent; and services, up by 9.1 percent.

Services contributed 5.8 percentage points to the 7.6 percent GDP growth in the third quarter, followed by industry which shared 1.6 percentage points, and agriculture, forestry and fishing at 0.2 percentage points.

By industry, wholesale and retail trade, repair of motor vehicles and motorcycles contributed 1.9 percentage points to the GDP growth in July to September period, followed by financial and insurance services at 0.77 percentage points and construction at 0.76 percentage points.

Compared to last year, the sector of accommodation and food service activities expanded by 40.6 percent, which is the largest across industries. Transportation and storage also improved by 24.3 percent and construction increased by 12.2 percent.

“This economic performance largely benefitted from the further easing of mobility, including the resumption of face-to-face classes, which boosted consumption among Filipinos,” Balisacan said.

The NEDA chief added that the relaxation of borders and simplifying travel protocols supported the recovery and growth of local tourism and other sectors.

In terms of spending, household final consumption expenditure is the largest contributor to GDP in the previous quarter at 5.9 percentage points, exceeding the share of construction at 1.5 percent percentage points, durable equipment at 0.7 percentage points, and government final consumption expenditure at 0.1 percentage points.

In relation to the above news, President Ferdinand “Bongbong” Marcos, Jr. recently visited Cambodia and there he invited the nation’s business leaders to invest in the Philippines. Posted below is an excerpt from the report of GMA Network news. Some parts in boldface…

“We would like to invite at the very least, for you, to have a look at the opportunities that are available. And finally I suppose at some point, since we are not so far away, to come and we will explain to you exactly what we have done and why we have done it and where we have arrived in that process of transforming the economy,” Marcos told business leaders during a roundtable meeting.

“I do not talk about recovery of the economy, I talk about transformation of the economy because the new economy is going to be different from everything that we did in 2019. And so this is what we are looking forward to and I hope to see you all in the Philippines soon,” he added.

Let me end this piece by asking you readers: What is your reaction to this recent announcement about the state of the Philippine economy? Do you look forward to a more prosperous year in 2023? Are you planning to open a new business soon? If you are an investor, are you confident about investing in the stock market and in companies?

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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