Tag: BusinessWorld

BIR says half a trillion Pesos lost to tax evasion each year

BIR says half a trillion Pesos lost to tax evasion each year

carlocarrasco

Tax evasion remains a very serious problem in the Philippines. As far as the Bureau of Internal Revenue (BIR) is concerned, the authorities lose around half a trillion Pesos each year due to tax evasion, according to a BusinessWorld news report.

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

THE GOVERNMENT loses around P500 billion annually to tax evasion, according to a top Bureau of Internal Revenue (BIR) official.

“There is a lot, especially if we include those involved in illicit trade. In cigarettes alone, there’s around P100 billion,” BIR Commissioner Romeo D. Lumagui, Jr. said, when asked about revenue losses from tax evasion.

“Leakages aren’t part of that yet, like petroleum or vape products that aren’t registered, as well as fake receipts. I think it won’t go below P500 billion if you add everything up,” he added.

Mr. Lumagui said the BIR will have an easier time achieving its collection targets if it addresses tax evasion.

Earlier this month, the BIR filed 74 tax evasion complaints worth P3.5 billion against several companies.

“We will tailor efforts to improve digital services so businesses will leave the shadow economy and join the tax net. We will now focus on enforcement activities against tax evaders, put emphasis on tapping uncollected taxes through illegal activities,” Mr. Lumagui said.

The BIR is currently monitoring and investigating a number of suspected tax evaders.

“The most important right now is the selling of fake receipts and we know who (they are). We are investigating so we can file a case against those involved,” Mr. Lumagui said.

The BIR is targeting to collect P2.6 trillion in revenues this year.

“With all our activities and efforts we are making, we will be able to achieve the tax collection target,” he said.

In 2022, the agency collected a total of P2.34 trillion, surpassing its P2.1-trillion target.

Meanwhile, Mr. Lumagui said the agency will also review its policies after the Supreme Court declared void its regulations that require firms to disclose the personal information of investors.

“We must respect the privacy (of these investors) but when it comes to the correct amount of taxes, the BIR has auditing power. There is still a need to pay taxes and the compliance of these businesses needs to be monitored. When it comes to determining the correct amount of taxes, we can investigate that,” he added.

The Supreme Court declared that the BIR Revenue Regulations No. 1-2014 and Revenue Memorandum Circular (RMC) No. 5-2014 “void for being unconstitutional” as it violated the right to privacy.

The regulations require businesses to disclose investor information such as addresses, tax identification number (TIN), and birthdays, among others.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the BIR will be able to collect P2.6 trillion this year even with tax evasion still going on? What do you think should be done to eradicate tax evasion all over 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.

+++++

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

BSP sees 6-7% economic growth in 2023 for Philippines

BSP sees 6-7% economic growth in 2023 for Philippines

carlocarrasco

As far as the Bangko Sentral ng Pilipinas (BSP) is concerned, the Philippine economy will grow between 6% to 7% this year, according to a news report by BusinessWorld. By comparison, HSBC and the World Bank forecast growth rates of 4.4% and 5.4% respectively.

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

THE “CONTINUED NORMALIZATION” of post-pandemic mobility will help the Philippine economy expand within the government’s 6-7% target this year, but slower growth is likely in 2024, the Bangko Sentral ng Pilipinas (BSP) said.

“GDP (gross domestic product) growth is projected to settle within the DBCC’s (Development Budget Coordination Committee) target of 6-7% for 2023, but economic headwinds could result in slower GDP growth in 2024,” the BSP said in its latest Monetary Policy Report (MPR).  

“The full-year growth forecast for 2023 was adjusted upward from the previous MPR. Meanwhile, the growth forecast for 2024 is lower compared to previous round, reflecting weaker global prospects and the impact of cumulative policy rate adjustments of the BSP,” it added.  

While the central bank does not give its exact growth forecasts, the DBCC targets 6.5-8% GDP growth in 2024.

According to the central bank, the economy will be “driven by growth in the industry sector as manufacturers signal increased production plans as the economy reopens further.”  

Based on data from the Philippine Statistics Authority (PSA), the service sector expanded by 9.8% in the fourth quarter last year, while the industry sector grew by 4.8%. Annually, services jumped by 9.2%, and industry expanded by 6.7%.

Better labor market conditions, higher demand for tourism, and greater economic activity due to the resumption of face-to-face classes are seen to boost growth in the services sector, the BSP said.  

“Moreover, the implementation of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law, Financial Institutions Strategic Transfer (FIST) Act, and the second tranche of the reduction in personal income taxes could help further bolster the domestic outlook in 2023-2024,” it added.

Meanwhile, the overall balance of supply and demand conditions, as reflected by the output gap, is expected to “remain broadly neutral” in the near term.  

“Estimates from the BSP’s Policy Analysis Model for the Philippines (PAMPh) indicate that the output gap is estimated to be slightly positive in early 2023, reflecting the sustained economic expansion in 2022,” the central bank said.  

The economy grew by 7.6% in 2022, exceeding the government’s 6.5-7.5% target, and the fastest growth since 1975.

“Thereafter, the output gap is seen to remain in broadly neutral territory as the impact of policy interest rate adjustments takes hold on the economy. A projected slowdown in global growth owing in part to tightening monetary conditions across countries could likewise dampen aggregate demand,” the BSP said.  

The Monetary Board last week increased the benchmark policy rate by 50 basis points (bps) to 6%, the highest in nearly 16 years. Rates on the overnight deposit and lending facilities were also increased to 5.5% and 6.5%, respectively.

According to analysts, higher interest rates could drag economic growth slower this year.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the Philippines can achieve economic growth beyond 6% this year? Do you think the government should do more with post-pandemic living and economics in mind?

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

+++++

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 new water treatment plant in Muntinlupa City more than 50% complete, additional water supply of 50 MLD expected by year-end

Maynilad’s new water treatment plant in Muntinlupa City more than 50% complete, additional water supply of 50 MLD expected by year-end

carlocarrasco

Recently, water concessionaire Maynilad announced that it is more than half-way through with its construction of a new water treatment plant in Barangay Poblacion in Muntinlupa City and additional water supply be the end of the year is expected, according to a news report by BusinessWorld.

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

MAYNILAD Water Services, Inc. said on Tuesday that it is now more than halfway through the construction of its Poblacion water treatment plant in Muntinlupa.

“Once fully operational by the first half of 2024, this facility will have the capacity to produce 150 MLD (million liters per day) of potable water for the southern portion of Maynilad’s concession area, particularly Parañaque, Las Piñas, Muntinlupa, and Cavite,” the west zone water concessionaire said.

The Poblacion water treatment plant, now 53% complete, is expected to produce 50 MLD of additional water supply by yearend. It will be Maynilad’s third facility to tap Laguna Lake as an alternative raw source of water.

Currently, Maynilad has two treatment plants in Putatan, which provide 300 MLD to around 1.7 million customers.

“Our production of 300 MLD is stretched to meet the current requirements of our customers in the south. Hence, whenever extreme conditions necessitate reduced production, there is no extra supply so some of our customers experience service disruption. The additional output that we will get from the Poblacion WTP will help to address that,” said Maynilad Chief Operating Officer Randolph T. Estrellado.

The Poblacion water treatment plant is part of Maynilad’s P220 billion service enhancement program for 2023 to 2027.

Separately on Tuesday, Lee Robert M. Britanico, deputy administrator for customer service regulation of the Metropolitan Waterworks and Sewerage System (MWSS), said that the agency’s corporate office continues to look for a new water source.

“If we fail to look for an additional source the existing water supply can no longer meet the demand and the increasing population,” he said in a virtual press briefing.

He also said that the MWSS is now coordinating with Maynilad and Manila Water Co., Inc. to ensure adequate and uninterrupted water supply for the summer months.

“We have a supply deficit now not just in southern Metro Manila,” Mr. Britanico said, referring to the Philippine capital and parts of Cavite and Rizal provinces.

“[Because] the population in these areas continued to grow and the water supply is not coming from Metro Manila, our corporate office is looking for another source to augment that deficit, and we encourage everyone to conserve water and encourage Maynilad and Manila Water to be efficient,” he said.

Mr. Britanico said the MWSS is now preparing for the summer months when it expects a supply deficit due to high temperatures and the lack of rainfall.

“Rest assured as of now, we are okay but we encourage the public to conserve water, let us not take that for granted,” he said.

Mr. Britanico added that if population growth continues amid a lack of new water sources, a significant supply deficit might happen by 2024.

“Right now, if we will base the projection on the population, most likely next year we will have a problem but if we can find a new water source for Metro Manila, Cavite and Rizal, then that will address the issue,” he said.

Meanwhile, the MWSS regulatory office on Tuesday directed Maynilad to rebate P27.48 million to customers affected by the water services interruptions in areas served by the concessionaire’s Putatan water treatment plants.

“MWSS has determined the final rebate amount for Maynilad customers. Maynilad shall rebate a total of P27.477 million as reasonably determined by this office,” Mr. Britanico said.

The decision came after the recurring service interruptions from December 2022 until January this year in areas covered by the Putatan plants such as the southern part of Metro Manila.

Let me end this piece by asking you readers: If you are a Muntinlupa City resident, what is your reaction to this development? As a local resident, do you think that Maynilad will be able to complete its Poblacion water treatment plant and improve the local water supply? Do you manage a business that got negatively affected by the most recent water service interruptions?

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

+++++

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

World Bank sees 5.4% economic growth for the Philippines in 2023

World Bank sees 5.4% economic growth for the Philippines in 2023

carlocarrasco

As it continues to make predictions about different nations’ economies around the world, the World Bank (WB) revealed that it sees the Philippines achieving 5.4% economic growth in 2023, according to a BusinessWorld news report. The said forecast goes against the more optimistic 2023 target of the Philippine government.

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

PHILIPPINE economic growth would probably slow to 5.4% this year, from an estimated 7.2% in 2022, amid a looming global recession, the World Bank (WB) said.

In its latest Global Economic Prospects report, it trimmed its gross domestic product (GDP) growth forecast for the Philippines from its 5.6% projection in June.

The World Bank’s latest GDP forecast is below the government’s 6-7% growth target for the year.

“After the strong rebound in 2022, growth in Malaysia, the Philippines and Vietnam is expected to moderate as the growth of exports to major markets slows,” it said.

In December, the World Bank upgraded its forecast for the Philippines to 7.2% for 2022 from 6.5%, amid a surge in private consumption and robust export growth.

The Philippine economy expanded by 7.6% in the third quarter, bringing the nine-month average to 7.7%. The strong third-quarter data prompted economic managers to say that full-year GDP growth would settle above the 6.5-7.5% target.

“The recovery from the pandemic-induced recession has been uneven across the region. Output surpassed pre-pandemic levels last year in Cambodia, the Philippines and Thailand,” the World Bank said.

However, a “sharp, long-lasting” slowdown in the global economy this year is expected to affect nearly all regions, particularly developing countries, World Bank President David Malpass said in a statement.

“Global growth is expected to decelerate sharply to 1.7% in 2023 — the third weakest pace of growth in nearly three decades, overshadowed only by the global recessions caused by the pandemic and the global financial crisis,” the multilateral lender said in the report, noting this is 1.3 percentage points below previous forecasts.

The World Bank said the latest estimate reflects “synchronous policy tightening aimed at containing very high inflation, worsening financial conditions and continued disruptions from Russia’s invasion of Ukraine.”

It said urgent global efforts are needed to mitigate the risks of a global recession and debt distress in emerging market and developing economies.

By the end of 2024, GDP levels in these markets will be about 6% below pre-pandemic levels, according to the report.

Let me end this piece by asking you readers: What is your reaction to this new development? Do you agree with the WB’s analysis about slower economic growth for the Philippines this year? What do you think will help the Philippines achieve the more optimistic targets set by the national 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.

+++++

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

New Regus workspace facility opening soon in Las Piñas City

New Regus workspace facility opening soon in Las Piñas City

carlocarrasco

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.

+++++

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

P220 million worth of hoarded sugar seized in three raids

P220 million worth of hoarded sugar seized in three raids

carlocarrasco

The Philippines has a big problem with regards to sugar which unsurprisingly sparked a wave of news. The three leading softdrinks makers made a joint statement about the declining supply of sugar in the country while stores and local food joints claimed they are affected by the sugar shortage. The local bakers have been affected as well.

There is, however, good news here. Recently agents of the Bureau of Customs (BOC) conducted raids which resulted in the seizure of several sacks of hoarded sugar estimated to be worth more than P200 million, according to a BusinessWorld report. Make no mistake, the government is working to solve the sugar problem.

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

CUSTOMS agents seized 44,000 sacks of hoarded sugar worth P220 million in separate raids north of Manila, the capital on Wednesday and Thursday as part of a crackdown amid rising sugar prices and tight supply.

The agents and police raided two warehouses in Bulacan province and another in Pampanga on orders of President Ferdinand R. Marcos, Jr., who is also Agriculture secretary, the Bureau of Customs (BoC) said in a statement.

“The BoC’s Pampanga sugar warehouse raid may very well serve as a warning to unscrupulous traders who are currently hoarding their stocks of sugar in order to profit from the current artificial sugar shortage situation,” Executive Secretary Victor D. Rodriguez said in a separate statement.

The government might visit more warehouses in the coming days, Press Secretary Trixie-Cruz Angeles told a news briefing.

Mr. Rodriguez earlier said the government was investigating reports that certain traders were pushing the imports of 300,000 metric tons of sugar so they could use it as a cover to release hoarded sugar, which they have not sold for fear of lowering prices.

The Sugar Regulatory Administration had authorized the imports, which Mr. Marcos later rejected. Three of the officials who signed the order have quit their jobs.

“Reports reaching the Office of the Executive Secretary said such massive importation of sugar could result in windfall profits for the traders of at least P300 million with a portion of the amount earmarked as lobby money,” Mr. Rodriguez said.

The Customs bureau is investigating reports that the Pampanga warehouse had long been smuggling sugar from Thailand, repacking and then selling it as local sugar, the presidential palace said.

Like the Pampanga warehouse, the two warehouses in Bulacan were also suspected of storing smuggled goods.

The agents also found imported corn starch from China, sacks of imported flour, plastic products, oil in plastic barrels, motorcycle parts and wheels of different brands, helmets, LED TVs and paints inside the Pampanga warehouse.

Authorities have given the warehouse owners 15 days to present import documents, the palace said.

Let me end this piece by asking you readers: What is your reaction to this recent development? Is your household or your business somehow affected by the ongoing sugar problem? How much did you pay for a kilogram of sugar recently compared to six months ago? Did you notice any sugar-related products like softdrinks, candy, ice cream and coffee lacking in supply in the local groceries and convenience stores? Was there a local coffee shop that failed to serve you a specific drink or food item because of a lack of sugar?

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

+++++

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

New water coming from Maynilad this July

New water coming from Maynilad this July

carlocarrasco

Starting this July, water concessionaire Maynilad will start distributing their so-called new water to customers, according to a BusinessWorld news report.

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

MAYNILAD Water Services, Inc. targets to distribute starting in July up to 10 million liters per day (MLD) of its “new water” or treated used water from households that passes through a rigorous purifying process to make it potable.

“We’re still doing some pipe-laying in Sucat, and we’re still waiting for our permit to operate from the Department of Health, but once we get it, maybe next month we can already distribute 10 MLD,” Maynilad Chief Operating Officer Randolph T. Estrellado said partly in Filipino during a virtual press briefing on Tuesday.

He said the company’s target eventually is to use all the wastewater in Metro Manila to be purified into new water. He said 80% of the water produced in its concession area comes back as wastewater.

The treated water will come from its modular treatment plants or ModTPs that will get raw water from the Parañaque Water Reclamation Facility.

The initial 10 MLD will be flowed into the distribution system for blending with the standard drinking water produced by Maynilad’s La Mesa treatment plants.

The blended supply will then be conveyed to barangays San Dionisio and San Isidro in Parañaque City, which are the areas nearest to the ModTP location. The two barangays will benefit from the additional supply, as it will improve water availability in the area.

Maynilad said it had been holding a series of social acceptability tests and public consultations with residential and commercial customers, local government units, and government agencies such as the DoH, Department of Environment and Natural Resources, Metropolitan Waterworks and Sewerage System (MWSS), and National Water Resources Board.

The consultations are meant to ensure that the new water will be acceptable to consumers.

Maynilad said that based on the results of its initial social acceptability test, its residential and commercial customers have expressed willingness to use new water after seeing it and understanding the process behind it.

“Mahaba ang pinagdaanan na journey ng Maynilad bago kami nakarating dito (Maynilad’s journey has been long before we got here),” Maynilad President and Chief Executive Officer Ramoncito S. Fernandez said.

“We will ensure that periodic tests will be done,” he added.

Maynilad said the new water will have no impact on customers’ water bill. The standard water tariff rates will apply whether raw water is sourced from Angat Dam, Laguna Lake, or treated used water.

The initiative is part of Maynilad’s move toward potable water reuse, which is aimed at boosting available supply in view of the growing demand for water. It is also in response to the strain on existing raw water sources due to the impact of climate change, the company said.

At present, used water from households is collected, cleaned in sewage treatment plants, and discharged into bodies of water. But with potable water reuse, treated used water goes through a second treatment plant for a more rigorous purification process. The new water output can be used for drinking, having passed the Philippine National Standards for Drinking Water.

Maynilad officials said treated water reuse for drinking is already done in other countries.

Let me end this piece by asking you readers: What can you say about the new water that will be distributed by Maynilad? Are you looking forward to using the new water?

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

+++++

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

I Love Israel: Joint Economic Commission (JEC) established by Israel and the Philippines

I Love Israel: Joint Economic Commission (JEC) established by Israel and the Philippines

carlocarrasco

Trade between Israel and the Philippines could improve and help develop each other economically in the years to come as the two nations strengthened their ties further by establishing the Joint Economic Commission (JEC), according to a recent report by BusinessWorld.

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

THE Philippines and Israel said they formed a Joint Economic Commission (JEC) that will explore pathways to improving trade.

In a statement on Thursday, the Department of Trade and Industry (DTI) said Trade Secretary Ramon M. Lopez signed a memorandum of understanding (MoU) with Israel Economy and Industry Minister Orna Barbivai in Jerusalem on June 7 that created the JEC.

“The MoU seeks the establishment of a bilateral consultative mechanism that will develop and strengthen trade, enhance investments, and advance economic ties between the Philippines and Israel,” the DTI said.

“In establishing a JEC, the two countries agree to exchange information on economic issues, identify and implement cooperative projects, organize consultations, missions, and official visits and enhance cooperation and linkages with their respective private sector,” it added.

The DTI said the MoU will seek to explore industries where the two countries can collaborate with a view towards diversifying trade and investments.

He added that priority sectors for promotion include agribusiness/agriculture production, energy efficiency technologies and renewable energy, infrastructure and public-private partnership (PPP) projects in infrastructure, real estate development, logistics, artificial intelligence, information technology and business process management (IT-BPM) including shared services, electronics manufacturing, and digital infrastructure.

Mr. Lopez told reporters via Viber that the initial investments from the investment promotion and protection agreement (IPPA) between the Philippines and Israel could bring around $150 million in investment in 2022.

“Early harvest could be around $150 million this year,” Mr. Lopez said.

Also signed on June 7, the IPPA provides the framework for a closer investment relationship between Israel and Philippines. It also specifies investment protection elements such as national treatment, most favored nation treatment, free transfers, rules-based expropriation and compensation, and investor-state dispute settlement.

The DTI also recently signed an MoU seeking to strengthen cooperation with the Israel Innovation Authority.

This newest development is undoubtedly critical as both the Philippines and Israel share the same goal of recovering from the damage of the COVID-19 crisis and emerging stronger economically and socially. The JEC between the two nations is something we must be thankful to God for.

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, love the Jewish people and pray for the peace of Jerusalem. 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.

+++++

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. 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/

I Love Israel: Philippines looking for Israel-based companies for potential partnership related to emergency preparedness

I Love Israel: Philippines looking for Israel-based companies for potential partnership related to emergency preparedness

carlocarrasco

The Philippines’ Office of Civil Defense (OCD) is looking to companies in Israel for a potential partnership to meet the nation’s emergency preparedness needs, according to a recent report by BusinessWorld. The report has details related to what Israel’s ambassador Ilan Fluss stated to the local media lately. This is a clear sign that more cooperation and exploration of opportunities are happening under the ties between Israel and the Philippines.

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

THE PHILIPPINES is looking to partner with Israeli companies to help address the country’s emergency preparedness needs.

“Israel is also facing challenges in climate change and manmade disasters, and for that we have a lot of knowledge and know-how in dealing with emergency situations,” said Israel Ambassador to the Philippines Ilan Fluss in a May 30 event organized by the Israel Embassy in Manila and the Philippine Office of Civil Defense (OCD). “Today is an opportunity to share… how the national and regional agencies can confront [these] challenges.” 

Emergency solutions offered by four Israeli companies were presented: ImageSat International, which provides space-based, geospatial intelligence solutions for defense and security; ELPAM Electronics Ltd., which designs and implements siren systems and trapped people locators; Cinten, which improves emergency response capabilities through the data-driven, real-time simulations in its SaaS (software-as-a-service) platform; and GALMOBILE, which offers a mobile, plug-and-play solution for purifying any water source into potable water within thirty minutes.   

“These four items are the technologies we really need at the OCD,” said Bernardo Rafaelito R. Alejandro IV, OCD assistant secretary and deputy administrator for operations. “We can engage them further through the DoST [Department of Science and Technology] to check on these tools.”  

“In the shopping list of [natural] hazards, we have it all: typhoons, floods, storm surges, earthquakes, tsunamis …,” added Joe-Mar S. Perez, chief of the 24/7 operations center of the National Disaster Risk Reduction and Management Council. “Because of these risk factors, the Philippine government has a proactive approach to risk management.”  

Included in this approach is a response protocol adopted from the US for on-scene, all-hazard incident management, as well as PhilAWARE, a system created by the Pacific Disaster Center that visualizes disaster situations through layers of maps. 

The government plans to establish alternate government command and control centers, in addition to the one in Central Luzon, according to Mr. Perez.

THREATS VERSUS GOALS

In Israel, identifying the gaps between its national goals and its benchmarked threats has helped the country manage disasters at the national and municipal level, per an emergency management expert. 

“If the goal is fresh water and food … it’s not enough to say, ‘I’m going to supply food,’” said Joseph David Shapiro, deputy director of Israel’s national emergency management authority. “You have to explain at what service level [you’re going to] supply that.” 

Governance during an emergency starts with identifying the different agencies that are a part of a particular goal, and then dividing responsibilities into missions to be carried out by the different offices, he said at the same event.

“If I am in the ministry of energy, how do I supply fuel and energy to the industries that package and supply food? Or, how do I supply fuel to the different trucks that move food from one place to another?” he said. 

Israel’s national goals are grouped into three categories: continuous functionality goals (like transport and security); life texture goals (like shelter and hygiene); and vital goals (like water and medicine). 

The above story is very timely as the Philippines’ rainy season is already on and potentially there will be typhoons and floods in the months to come. It should be remembered that the State of Israel assisted the Philippines previously such as typhoon relief, boosting the dairy sector, and COVID-19 to name a few. Already Israel is looking forward to the next administration led by incoming President Ferdinand “Bongbong” Marcos, Jr. Meanwhile visitors from Israel are very welcome to enter the Philippines without a visa. This latest development is a clear sign of exploration between Israel and the Philippines that could lead to joint agreements that will further strengthen the ties between the two nations. Truly this is something we should be thankful to the Lord for.

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, love the Jewish people and pray for the peace of Jerusalem. 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. With regards to the incoming President Bongbong Marcos and Vice President Sara Duterte, I urge you all to pray for them. Pray that they will open their hearts to the Lord, look up to Him and follow His guiding light as they govern the entire Philippines in the years to come.

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.

+++++

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. 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/

Over 500,000 foreign tourists counted since the borders were reopened

Over 500,000 foreign tourists counted since the borders were reopened

carlocarrasco

If you are looking for encouraging news about our country and its struggle to rise up from the COVID-19 crisis, be aware that more than half a million foreign visitors have been counted since the Philippines reopened its borders months ago, according to a recent news report by BusinessWorld.

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

FOREIGN VISITORS have totaled 517,516 as of May 25, since the reopening of borders with minimal quarantine requirements in February, according to the Department of Tourism (DoT).

The DoT said in a statement that the US was the top source of arrivals between Feb. 10 and May 25 with 104,589, followed by South Korea with 28,474 arrivals, and Canada 24,337.

“Australian nationals, British, and Japanese were next on the list with 23,286; 20,846; and 13,373 respectively,” the DoT said. 

“Other foreign visitors during the early months of the year include Vietnamese, Singaporeans, Malaysians, Italians, Irish and French,” it added.

On Feb. 10, the Philippines started accepting nationals that do not require visas to enter the country. Since April 1, borders have been opened to all nationals. 

“The DoT is looking forward to an uptick in tourist arrivals in the coming weeks following the further easing of entry requirements,” Tourism Secretary Bernadette Romulo-Puyat said.

Starting May 30, the DoT said fully vaccinated and boostered inbound foreign visitors will no longer be required to have a pre-departure test for coronavirus disease 2019 (COVID-19). The looser entry rules are authorized by Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF-EID) Resolution No. 168.

However, the DoT said arriving passengers are still encouraged to obtain travel insurance. All types of vaccination certificates, regardless of country of origin, will also be accepted.

“Based on the resolution, the visitor must be at least 18 years old and must have received the primary series of COVID-19 vaccines and at least one booster shot,” the DoT said.

For the newcomers reading this, more tourists from overseas means better opportunities for local businesses to make more money and recover whatever losses they had as a result of lockdowns and quarantine-related business restrictions. Tourism-related businesses like hotels, resorts and connected transportation and food-and-beverage services badly need the spending of foreign visitors.

In relation to this tourism industry development, be aware that there were foreign participants in the recent Subic Bay International Triathlon (SUBIT) which was a big sports even that attracted hundreds of participants on May 1 at the Subic Bay Freeport Zone. Speaking of the said location, I personally saw lots of hotels, restaurants (note: read my feature articles about Gourmet Garage Subic and Xtremely Xpresso), stores and other leisure facilities that operated as if the country is back in the pre-pandemic days. The more foreign tourists coming in plus the more local tourists engage in holidays, special events and travel in the country, the better it will be for local businesses to recover (plus pay their fees, taxes and keeping their hard-working employees longer) and the nation as a whole. I believe that the Philippines will continue to rise socially and economically from the pandemic.

Let me end this piece by asking you readers: What is your reaction about this tourism-related development? Do you believe the Philippines will be able to attract 2 million foreign tourists by the end of 2022? Do you run a business that catered to foreign tourists?

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

+++++

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. 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/