Tag: BusinessWorld

Overstaying Chinese National Arrested For Parañaque Scam Operation

Overstaying Chinese National Arrested For Parañaque Scam Operation

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Recently in the city of Parañaque, elements of the Bureau of Immigration (BI) arrested an overstaying Chinese national who was caught in the act of running a scam operation in his residence, according to a BusinessWorld news report.

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

THE Bureau of Immigration (BI) has arrested a Chinese national allegedly operating a cryptocurrency investment scam in a condominium unit in Parañaque City.

In a statement on Wednesday, the BI said fugitive search unit (FSU) agents, working with the Criminal Investigation and Detection Group-National Capital Region (CIDG-NCR) and the Department of Justice Office of Cybercrime, apprehended a 41-year-old Chinese national on Monday, inside a residence along Diosdado Macapagal Blvd. in Barangay Tambo.

Authorities said the man was caught in the act of managing a computer workstation suspected of being used for online fraud. Intelligence reports earlier linked the location to another Chinese national believed to be running the operation with several accomplices.

He had also overstayed in the country, failing to extend his visa since October 2024, and was found to be working without a permit.

Let me end this post by asking you readers: What do you think about this recent development? If you are a resident of Parañaque, are you concerned that there could be more Chinese nationals illegally staying and secretly doing scam operations? Are there many Chinese nationals living in your residential community 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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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 at https://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 engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Nomura Sees 2025 Philippine Economic Growth Slowing Down To 4.7%

Nomura Sees 2025 Philippine Economic Growth Slowing Down To 4.7%

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In its latest economic report, Nomura Global Markets Research sees the economic growth of the Philippines slowing down to 4.7% this and they pointed to an expected decline in government spending, 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…

PHILIPPINE ECONOMIC GROWTH may slow to 4.7% this year, as government spending is expected to further decline amid the corruption investigation in infrastructure projects, Nomura Global Markets Research said.

In a report dated Oct. 27, Nomura Chief ASEAN (Association of Southeast Asian Nations) Economist Euben Paracuelles and Macroeconomic Research Analyst Yiru Chen said the gross domestic product (GDP) forecast was slashed to 4.7% this year from 5.3% previously as downside risks increased due to the corruption scandal involving flood control projects.

“This pencils in GDP growth slowing to just 4% in the second half from 5.4% in the first half and is based on the assumption that the decline in government expenditures in September will worsen in the next 3-4 months,” they said.

Nomura’s latest forecast is below the government’s 5.5-6.5% GDP growth target for the year and is slower than the 5.7% growth in 2024.

“Taking into account the sharp drop in fiscal spending in September, we think the ‘bad scenario’ on the growth impact of the ongoing corruption scandal is materializing,” they said.

Third-quarter GDP data will be released on Nov. 7.

President Ferdinand R. Marcos, Jr. had flagged anomalous flood control projects during his State of the Nation Address in late July. This sparked several investigations into alleged corruption involving lawmakers, government officials, and private contractors.

Latest Treasury data showed government expenditures declined by 7.53% in September, worsening from the 0.7% drop in August, mainly due to lower spending by the Department of Public Works and Highways. Nomura also noted that government spending declined by 2.8% in the third quarter, a reversal of 1.6% growth in the second quarter.

“Excluding interest payments and debt servicing, expenditure growth slumped even more to -10.2% y-o-y (year on year) in September from -3.5% in August, the weakest since 2020. This suggests a relatively rapid deterioration in the pace of budget disbursements after President Marcos brought to light the corruption scandal of flood control projects,” they said.

Nomura also noted that the reallocation of funds to other types of capital expenditures such as school buildings has been “challenging” to implement.

“In addition, we incorporate some spillovers into other components of domestic demand, which were also evident in these previous episodes, including household consumption spending. Our forecast continues to take into account the impact of the US tariffs, which, as we have argued before, pose significant headwinds for goods exports,” they said.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the GDP growth of the Philippines will end up below 5% for 2025 as a whole? Are you convinced that investigations and embarrassing details from flood control projects are turning away foreign investors already?  

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

DEPDev Secretary Says Philippines Likely To Hit Low-End Of 2025 GDP Growth Target

DEPDev Secretary Says Philippines Likely To Hit Low-End Of 2025 GDP Growth Target

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Recently the Secretary of the Department of Economy, Planning, and Development (DEPDev) expressed confidence that the economy of the Philippines will hit the low-end target of GDP growth for 2025, according to a BusinessWorld news report.

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

Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio M. Balisacan said he is confident Philippine economic growth will hit the lower end of the target this year, despite a slowdown in the third quarter.

“The growth that we are expecting for 2025 is now 5.5 to 6.5% The low-end of the range is still very much achievable,” he told reporters on the sidelines of an event on Oct. 16.

Economic managers will meet next week to assess whether revisions to this year’s growth outlook are needed, he added.

Budget Secretary and Development Budget Coordination Committee (DBCC) Chairperson Amenah F. Pangandaman on Wednesday told BusinessWorld that the gross domestic product (GDP) target for 2025 “remains attainable.”

Finance Secretary Ralph G. Recto earlier said flagged a slowdown in the third quarter and possibly until early 2026 as corruption probes curb public spending.

Aside from slower public spending, Mr. Balisacan said weather disruptions may have dampened economic activity in the July-September period.

“There may be a bit of a slowdown (in third quarter) because of these supply shocks that we have seen. There are so many typhoons that we have seen during the quarter, many days of work suspension. So economic activity is really affected,” he said.

Asked whether third quarter growth could fall below the 5.5% annual GDP growth in the second quarter, Mr. Balisacan said: “Hopefully not.”

Let me end this post by asking you readers: What is your reaction to this development? Would you be satisfied to see the economy of the Philippines grow by 5.5% this year? Do you think there will still be a lot of challenges and problems in the 4th quarter that could somehow bring economic growth below 5.5% for the entire 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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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

S&P Credit Rating Upgrade For Philippines Derailed By Flood Control Scandals

S&P Credit Rating Upgrade For Philippines Derailed By Flood Control Scandals

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Here in the Philippines, the flood control corruption scandals are not only keeping many Filipinos very angry but they are also affecting the economy negatively as the nation was prevented from achieving a credit rating upgrade from S&P Global Ratings, according to a news report by BusinessWorld.

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

THE FINANCE CHIEF on Tuesday said the multibillion-peso flood control scandal prevented the Philippines from getting a credit rating upgrade from S&P Global Ratings.

“If [only] we did not have the flood control issue,” Finance Secretary Ralph G. Recto told reporters on the sidelines of a Senate budget hearing. “We met with S&P, and they were ready to give us a credit rating upgrade this year.”

The controversy, which involves “ghost” projects and fund misuse in government flood control programs, has triggered investigations by Congress, the Commission on Audit, the Ombudsman, and the Independent Commission for Infrastructure.

The Marcos administration is facing increasing scrutiny over flood control projects, where billions of pesos in public funds were diverted through padded contracts and shell companies.

The scandal highlighted spending inefficiencies and governance lapses that credit agencies closely monitor when evaluating institutional credibility and fiscal management.

Asked whether the Philippines can achieve an “A” credit rating in the next two years, Mr. Recto said: “I hope so.”

He said the government wants to maintain its current credit rating, despite the multibillion-peso corruption scandal.

“There is a big chance they will maintain it, but there was a bigger chance for a credit rating upgrade,” he added.

In November 2024, S&P affirmed its “BBB+” long-term credit rating for the Philippines, which is a notch below the “A” level grade targeted by the government.

S&P had also raised its rating outlook to “positive” from “stable.” A positive outlook means the Philippines’ credit rating could be raised over the next two years if improvements are sustained.

Mr. Recto said the government needs to improve its governance and resolve the flood control mess.

Let me end this post by asking you readers: What is your reaction to this development? What do you think the national government should do to resolve the flood control mess? Are you convinced that the ongoing flood control corruption scandals are already turning away potential foreign investors?

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

Philippines September 2025 Inflation Reaches 1.7%

Philippines September 2025 Inflation Reaches 1.7%

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The annual inflation rate of the Philippines reached 1.7% this past September led by higher food prices, according to a BusinessWorld news report. Take note that August inflation was at 1.5% and business sentiment in the Philippines has weakened.

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

Philippine annual inflation quickened for a second month, but it was still below the central bank’s 2% to 4% comfort range for the year, reinforcing expectations that a policy decision this week will be a close call between cutting rates and pausing.

The consumer price index rose 1.7% in September led by higher food prices, up from August’s 1.5%, the statistics agency said on Tuesday. It was below the 2.0% median forecast in a Reuters poll, and brought year-to-date average inflation to 1.7%.

The September rate, the fastest since March, comes just days before the central bank’s penultimate policy meeting of the year on Thursday.

“For the upcoming policy meeting, the Monetary Board will review newly available information and reassess the impact of prior monetary actions in light of evolving economic conditions and their implications for inflation and growth,” the Philippine central bank said in a statement.

At its August policy meeting, the Bangko Sentral ng Pilipinas (BSP) signalled another reduction was still possible this year before it concludes its easing cycle.

Let me end this post by asking you readers: What is your reaction to this development? Do you think the inflation rate of the Philippines will reach as high as 3% by the end of 2025? Do you consider inflation as a major factor behind the modest economic growth of the country this year?

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

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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

IMF Sees Philippine Economy Growing 5.4% This Year And 5.7% Next Year

IMF Sees Philippine Economy Growing 5.4% This Year And 5.7% Next Year

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By citing factors like weaker-than-expected growth in the first half, the American tariffs on Philippine goods and geopolitical conflicts, the International Monetary Fund (IMF) sees the economy Philippines growing only 5.4% this year and 5.7% next 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…

PHILIPPINE ECONOMIC GROWTH is expected to moderate this year and in 2026 amid ongoing trade uncertainties and geopolitical tensions across the globe, the International Monetary Fund (IMF) said.

The IMF trimmed its Philippine growth forecast to 5.4% for this year, slightly lower than its 5.5% projection in July.

If realized, gross domestic product (GDP) growth will be at the low end of the National Government’s 5.5-6.5% target band this year.

For 2026, the IMF also cut its growth forecast to 5.7% from 5.9% previously. However, this is below the government’s 6-7% target for next year.

The IMF said the economy is expected to remain resilient, but downside risks warrant “close attention.”

“Risks to the growth outlook are tilted to the downside. The main external risks stem from prolonged global trade policy uncertainty, geopolitical tensions, and disruptive financial market corrections,” IMF Mission Head Elif Arbatli Saxegaard said at a briefing after the conclusion of the 2025 Article IV Consultation with the Philippines on Wednesday.

“On the domestic front, more frequent and intense climate shocks would cause notable macroeconomic losses. On the upside, accelerated implementation of structural and governance reforms would support investor confidence and the fiscal multiplier and raise potential growth. Risks around inflation are broadly balanced.”

Ms. Saxegaard said the growth outlook was revised to reflect the weaker-than-expected growth in the first half. For the first half, GDP growth averaged 5.4%, slower than the 6.2% a year ago.

Ms. Saxegaard said growth will be affected by the higher tariffs imposed by the US on Philippine goods. The US began imposing a 19% tariff on goods from the Philippines on Aug. 7

“It will weigh on exports and investment,” she said.

She also noted growth will be “supported by monetary easing and recent legislative measures to promote private investment.”

Meanwhile, the IMF sees inflation averaging 1.6% this year, before picking up to 2.6% next year.

“The pickup in inflation is expected to be driven by (the) food and transport crisis,” Ms. Saxegaard said. “And that reflects essentially the decline in negative base effects that have been dragging down inflation this year. So, as those base effects recede, we expect a pickup.”

She said core inflation is expected to “remain muted” at 2.5% in 2026.

“The BSP (Bangko Sentral ng Pilipinas) has room for a slightly more accommodative stance to help bring inflation back to the target faster and reduce economic slack amid elevated downside risks to growth,” Ms. Saxegaard said. “Policy will need to remain data dependent amidst prevailing uncertainties around the output gap and the neutral rate, and two-sided risks to inflation.”

On Aug. 28, the central bank slashed its key interest rate by 25 basis points (bps) for a third consecutive time to 5%. It has cut the benchmark by a total of 150 bps since August last year.

CORRUPTION – Asked about recent corruption scandals involving some government projects, Ms. Saxegaard said the IMF will continue to monitor the developments.

“It’s not yet clear whether and how these allegations will impact investor and private sector confidence, as well as their perceptions and behavior,” she said.

The IMF welcomed recent reforms to reduce infrastructure gaps and promote foreign direct investment, but effective implementation is key.

“Enhancing fiscal governance and the rule of law and reducing corruption vulnerabilities are critical for inclusive and sustainable growth,” Ms. Saxegaard said.

The IMF urged the Philippine government to continue implementing gradual fiscal consolidation “to replenish fiscal buffers and support external balance.”

Let me end this post by asking you readers: What is your reaction to this development? Do you think the IMF’s prediction of weaker economic growth will turn out true? Do you think the flood control projects scandal and government corruption investigation are turning away foreign investors?

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

Maynilad’s Muntinlupa Wastewater Facility Officially Operating

Maynilad’s Muntinlupa Wastewater Facility Officially Operating

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Recently the water concessionaire Maynilad announced that its P1.6 billion wastewater facility in Muntinlupa City – referred to as the  Cupang Water Reclamation Facility – has officially been operating, according to a BusinessWorld news report.

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

WEST ZONE concessionaire Maynilad Water Services, Inc. has started treating up to 46 million liters of wastewater daily at its newly commissioned P1.6-billion Cupang Water Reclamation Facility (WRF) in Muntinlupa City.

The facility is intended to expand sewerage coverage and treat wastewater to meet environmental standards, Maynilad said in a statement on Monday.

It is designed to serve about 33,000 customers in Sucat, Buli, Cupang, and Bayanan in Muntinlupa, Maynilad said.

At the same time, the company said it has started upgrading the facility to comply with stricter effluent standards under Department Administrative Order (DAO) 2016-08, as amended by DAO 2021-19 of the Department of Environment and Natural Resources.

“We are not only expanding our wastewater treatment capacity — we’re also future-proofing our facilities to comply with the latest environmental standards,” Maynilad President and Chief Executive Officer Ramoncito S. Fernandez said.

The Cupang WRF is one of two major wastewater treatment facilities recently completed in Muntinlupa, along with the nearby Tunasan WRF.

Let me end this piece by asking you readers: What is your reaction to this recent development? If you are a Maynilad customer, do you think the newly launched wasterwater facility will achieve positive results in the near future?

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

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

Weaker Business Sentiment In The Philippines

Weaker Business Sentiment In The Philippines

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Recently the Bangko Sentral ng Pilipinas (BSP) conduct its own survey which revealed that business sentiment in the Philippines became less optimistic during the 3rd quarter, according to a BusinessWorld news report.

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

Philippine businesses turned less optimistic about the economy in the third quarter amid bad weather and sluggish demand during “ghost month,” a survey by the Bangko Sentral ng Pilipinas (BSP) showed.

Based on its latest Business Expectations Survey, the overall confidence index (CI) for businesses fell to 23.2% in the third quarter, down from the 28.8% in the second quarter and the 32.9% in the same quarter last year.

A positive CI indicates that more respondents are optimistic than pessimistic. However, this was the lowest CI seen since the 23.9% recorded in the fourth quarter of 2022. The business confidence index has been on a decline for three consecutive quarters.

“Philippine businesses were less optimistic about the economy in the third quarter of the year,” the BSP said in a statement. “Their dampened confidence was primarily attributed to the slack in demand during the ‘ghost month’ and the onset of the rainy and typhoon season.”

This year, “ghost month,” the seventh month in the Chinese lunar calendar, ran from Aug. 23 to Sept. 21. Some investors avoid making big investments or decisions during this period.

The country also experienced heavy rains and flooding brought by several tropical storms and the southwest monsoon from late July to early August.

“Global headwinds, such as higher US tariffs, geopolitical tensions, and weaker foreign demand, also weighed on business confidence,” the BSP said. The US began imposing a 19% tariff on goods from the Philippines on Aug. 7.

At the same time, business confidence for the fourth quarter improved to 49.5% from 39.3% previously, as a surge in consumer spending is usually seen ahead of the holidays. The overall business outlook for the next 12 months eased to 48.1% from 51% the previous quarter.

“Despite the lower year-ahead CI, it remained positive, reflecting businesses’ continued optimism about near-term economic prospects,” the BSP said.

Businesses surveyed also see the peso appreciating against the US dollar in the fourth quarter and over the next 12 months but expect inflation to accelerate further.

“Firms also expect inflation over the next 12 months to remain within the National Government’s target range, indicating firmly anchored business inflation expectations. Within-target inflation supports investments and job creation,” the BSP said.

Businesses expect inflation to have settled at 2.1% in the third quarter, and picking up to 2.3% next quarter, and 2.4% in the next 12 months.

The central bank surveyed 1,523 firms nationwide, 580 of which are in the National Capital Region (NCR) and 943 in areas outside NCR, from July 4 to Aug. 17.

Let me end this post by asking you readers: What is your reaction to this development? Do you think the economy of the Philippines will somehow slow down in the 4th quarter?

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

IBPAP Bullish On Growth Of Global Capability Centers In The Philippines

IBPAP Bullish On Growth Of Global Capability Centers In The Philippines

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As far as the information technology and business process management (IT-BPM) industry of the Philippines is concerned, there is still room for growth in the near future as the country could become the next hot spot for global capacity centers (GCCs), according to a BusinessWorld news report.

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

THE PHILIPPINE information technology and business process management (IT-BPM) industry is still bullish on growth, as it expects to generate $42 billion in export revenues and increase headcount to 1.97 million in 2026, an industry group said.

The Philippines is also aiming to become the next hub for global capability centers (GCC), as it has seen an uptick in interest from multinational companies, the group added.

IT & Business Process Outsourcing Association of the Philippines (IBPAP) President and Chief Executive Officer Jonathan R. Madrid said the industry has so far created 450,000 new jobs and $10.5 billion in revenue since the creation of the industry roadmap in 2022.

“Now, for 2025, that includes 80,000 new jobs and $2 billion in incremental revenue. That is a growth of 4% and 5.3%, respectively,” he said at the International IT-BPM Summit on Tuesday. “By 2026, we project to reach $42 billion in revenue and close to a total of two million jobs for Filipinos.”

The expected jobs and revenues for 2026 are aligned with the baseline projections indicated in the IT-BPM Roadmap 2028. Mr. Madrid said the industry’s growth will still be driven by core segments — banking, financial services, and healthcare.

While the Philippines remains strong in contact centers, he noted faster growth coming from GCCs. “(There’s) a slightly higher growth rate from GCCs. Coming from a lower base, you tend to see more growth from that sector,” he said.

GCCs are offshore units established by multinational corporations to provide specialized services such as finance, IT and customer support to their global operations.

Mr. Madrid said he sees increased interest in setting up GCCs in the Philippines from prospective clients in the US, Australia and Europe.

Globally, GCCs are reshaping the IT-BPM industry, with its market expected to grow to $155 billion by 2027.

To date, there are 170 GCCs in the Philippines, growing by around 10 each year, but India continues to dominate with its 2,000 GCCs.

“We know that India dominates as the world’s GCC hub, showing how GCCs have evolved. They are no longer cost centers but strategic engines of innovation and transformation,” Mr. Madrid said.

“I think the Philippines should aspire to do the same. We have the talent, we have the scale, the cost efficiency, and the ecosystem maturity to become the next global GCC hub,” he added.

LEGISLATION NEEDED –IBPAP Chief Operating Officer Celeste B. Ilagan said more needs to be done on the policy front to support the growth of GCCs in the Philippines.

“GCCs have different needs compared with the traditional BPM providers,” she said, adding that the group wants Congress to pass legislation to help attract more GCCs into the country.

In particular, she said that the industry needs a law that is similar to the Regional Operating Headquarters (ROHQ) law. However, this move was “abandoned” in favor of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, she added.

“We know that other countries have this international business services law that they are already implementing so that they can get more GCCs to their country. So, we are trying to work along those lines as well,” she added.

Let me end this post by asking you readers: What is your reaction to this development? Do you think the Philippines will be able to act fast to attract more GCCs in the near future?

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

Funding For Philippine Startups Falls 55% To $86.4M In First Half of 2025

Funding For Philippine Startups Falls 55% To $86.4M In First Half of 2025

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Startups here in the Philippines secured $86.4 million in equity funding during the first half of this year which translates to a very sharp drop of 55% when compared to a year earlier, 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…

PHILIPPINE startups secured $86.4 million in equity funding in the first half of 2025, down 55% from a year earlier and lagging most of its Southeast Asian neighbors, according to a report by Kickstart Ventures, Inc., the corporate venture capital arm of Globe Telecom, Inc., and Singapore-based business news platform DealStreetAsia.

The Philippines raised about P4.91 billion from 15 disclosed deals in the six-month period, lower than the P10.86 billion ($191 million) recorded in the same period last year.

By deal value, the country trailed Singapore ($1.21 billion), Vietnam ($275 million), and Malaysia ($196 million). It only surpassed Indonesia ($78 million) and Thailand ($10 million), while Cambodia did not disclose figures.

Across Southeast Asia, startup equity investment fell by 20.7% year on year to $1.85 billion, the lowest in six years.

Joan Yao, general partner at Kickstart Ventures, said funding deals slowed after digital activity peaked in 2021 and 2022 at the height of coronavirus lockdowns.

“I think to some extent, as the effects of COVID died down… [digital] activity became more balanced between online and offline,” Ms. Yao said during a media briefing on Wednesday.

Philippine startups had raised $456 million and $481 million in the first halves of 2021 and 2022, respectively, before declining sharply as global investors scaled back.

Ms. Yao cited the tight monetary policy in the United States, when the US Federal Reserve hiked interest rates from March 2022 through July 2023 to curb inflation.

“A lot of the global investors that were coming to invest in the Philippine market or Southeast Asia pulled back a little bit from their investment activities because of the higher cost of capital,” she said.

The report said investors have become more selective, favoring companies with stronger governance and clearer paths to profitability.

Let me end this post by asking you readers: What is your reaction to the recent developments? Were you surprised to see the Philippines’ startups attracting much less equity funding from global investors? What do you think the government should do to convince global investors to invest more in startups here 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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