economics – Author Carlo Carrasco

I Love Israel: Major agreements made between Israel and the Philippines; direct flights included

June 7, 2023June 6, 2023carlocarrasco

This week has been very significant for Israel-Philippines relations. Israel’s Foreign Minister Eli Cohen arrived here on an official visit and he had a high-level meeting with President Ferdinand “Bongbong” Marcos, Jr. in Malacañang Palace which resulted in very tremendous agreements that include direct flights between Israel and the Philippines, according to a Philippine News Agency (PNA) news article.

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

*Philippine President Ferdinand “Bongbong” Marcos, Jr., with Israel’s Foreign Minister Eli Cohen. (photo source: Israel in the Philippines Facebook page)*

The Philippines and Israel are pushing for the direct flights between the two countries and elevating their partnership in agriculture and water sectors, Malacañang said on Tuesday.

The plan to enhance cooperation between Manila and Tel Aviv was discussed when President Ferdinand R. Marcos Jr. met with Israeli Foreign Minister Eli Cohen at Malacañan Palace in Manila on Monday, Presidential Communications Office (PCO) Secretary Cheloy Garafil said in a statement.

Cohen told Marcos that establishing direct flights between the Philippines and Israel would boost the two nations’ tourism and economic ties.

“There’s another thing that we, both of us, took for an action item. [It] is to have a direct flight… your external sea between Israel and the Philippines,” Cohen, as quoted by the PCO, said during the meeting, referring to his earlier meeting with Filipino officials.

“And I think that we agree that both ministries will work together to have the direct flight. And this is also to bring more business people to come to invest and reach the place between us. So this is also another important action item that we will do.”

The Philippine Airlines was supposed to launch its direct flights to Tel Aviv in 2022, but the plan has been stalled because of geopolitical concerns.

The Philippines has become one of the top tourist destinations for the Israelis in the last few years, Israeli Ambassador to the Philippines Ilan Fluss said in November 2022.

Cohen also told Marcos about Israel’s planned closer cooperation with the Philippines to ensure food security, suggesting that the two nations may open an agricultural hub.

“I think that we can work together on the segment of agriculture. I just let you know that our land, 60 percent of our land is desert. But although 60 percent of our land is desert, we were able to provide all our water needs,” Cohen said.

“And I think that we can work together and let’s say that less import, more export for the Philippines. And I think that we can work together,” he added.

Marcos said he was glad that Cohen raised Israel’s plan, as he expressed admiration for its advancement in agriculture.

He added that agricultural development is “very important” for the Philippines,

“Because when we look at the economy as hard to just test, we said how do we fix the economy. It always comes down to agriculture first, how to fix every policy, then everything else would be great. So that’s the position that we find ourselves in,” he said. “So, the offers that you make for assistance and partnership in those two areas are very, very welcome.”

Cohen said the Philippines and Israel can also collaborate on water management, noting Tel Aviv’s vast experience in this sector.

He said Israeli experts may visit the Philippines to provide advice, noting that Israel has been reusing a large portion of its water resources because of water scarcity and it can share its experience in water management with the Philippines.

Marcos said the Philippines is looking at Israel and Singapore for best practices that the country can imitate.

Indeed, these recent developments prove the Israel-Philippines ties are blossoming and truly essential. For the newcomers reading this, the 65^th anniversary of friendship between Israel and the Philippines was commemorated. It was also this year when the 75^th year of independence of the State of Israel was celebrated.

The establishment of direct Israel-Philippines flights will enable more Filipinos to visit the Holy Land while potential more Israelis will visit more conveniently and boost not only Philippine tourism but also engage in business and investments. For those of you who want to visit Israel to deepen your faith in the Lord, read my Israel 2023 feature articles by clicking here, here, here, here, here and here.

To my fellow Filipinos reading this, I encourage you to accept the truth that Israel is the land God designated specifically for the Jewish people (read Genesis 35:10-12) and His command must be followed by all. If you want to be blessed further by the Lord, do so by loving and blessing the Jewish people (Genesis 12:1-3). I did my part when I was in Israel. Also, let me remind you all that the ties between the Jews and Christians are truly biblical!

If you truly believe in Lord Jesus, the Holy Spirit and God the Heavenly Father wholeheartedly and you continue to be faithful, you should be aware that Christians are meant to stand united with Israel and love the Jewish people no matter what. You can do your part supporting Israel by donating to Christians United for Israel (CUFI). Do not forget to read the Holy Bible, then pray in tongues to the Lord in the privacy of your room with the door shut.

Always be the fearless and aggressive church of Lord Jesus! Always stand in support of Israel and pray for the peace of Jerusalem.

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

DOLE awards tools and equipment to manpower training center in Las Piñas City

June 2, 2023May 30, 2023carlocarrasco

Recently in the city of Las Piñas, the Department of Labor and Employment (DOLE) awarded tools and equipment to the Las Piñas Manpower Training Center (LPCMTC) which will boost the existing livelihood training programs for the locals, according to a Manila Bulletin news report. The awarding was done in the presence of Vice Mayor April Aguilar-Nery.

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

The Department of Labor and Employment (DOLE) awarded tools and equipment to the Las Piñas Manpower Training Center (LPCMTC) to boost the skills and livelihood training programs being offered to Las Piñeros.

According to Vice-Mayor April Aguilar, the awarding ceremony of tools and equipment was held on May 10 at the LPCMTC quadrangle located in Barangay Talon Dos.

DOLE distributed equipment for various livelihood programs of the training center such as cookery, bread and pastry production, hairdressing, automotive, and air conditioning servicing.

Aguilar thanked DOLE headed by Secretary Bienvenido Laguesma, for the equipment which will help boost the city government’s effort to promote sustainable livelihood and address the high unemployment rate in the country.

She said the manpower training center being managed by the local government has been offering various technical and vocational courses to residents of the city.

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? Do you think the quality of skills and livelihood training in the city will improve significantly now that the LPCMTC has new equipment?

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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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

National Tourism Development Plan for 2023-2028 approved by Marcos

May 22, 2023May 16, 2023carlocarrasco

In line with the ambition to establish the Philippines as a tourism powerhouse in Asia in the years to come, the National Tourism Development Plan covering the year 2023 until 2028 has been approved by President Ferdinand “Bongbong” Marcos, Jr., according to a GMA Network news report. Take note that as of May 12, 2023, the Philippines has already counted over two million foreign tourist arrivals.

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

President Ferdinand “Bongbong” Marcos Jr. has approved the National Tourism Development Plan for 2023-2028 which will serve as the blueprint of the Philippines’ tourism industry.

This was announced by Tourism Secretary Christina Frasco at a Palace press briefing following a sectoral meeting with the President on Tuesday morning.

“This NTDP is the result of consultation among the tourism coordinating council as well as our various tourism stakeholders from our regions all over the Philippines. The NTDP shall serve as the blueprint and the development framework for the tourism industry for the duration of the Marcos administration,” she said.

Frasco said this plan focuses on giving the country a chance to become a “tourism powerhouse.”

“These objectives involve not simply the promotion of the Philippines which we will continue domestically and internationally but also, more importantly, addressing the essential issues of tourism development, including the development of infrastructure, connectivity, as well as digitalization, the equalization of tourism, development, and promotion, the enhancement of overall tourism experience as well as the strengthening of tourism governance,” she explained.

Frasco said the plan would also serve as a guide for regions across the Philippines “to spread countrywide development through tourism,” adding that this will also provide jobs to Filipinos.

“Mabibigyan po ng pagkakataon ‘yung ating mga kababayan na magkaroon ng tourism employment sa pamamagitan ng pag-develop natin ng tourism circuits and to continue to push for tourism across our regions and provinces,” she said.

DICT support

Meanwhile, Information and Communications Technology Secretary Ivan John Uy promised that the agency would extend support to DOT on this tourism plan, specifically on connection issues.

He said most tourists are also vloggers who are making content about their experience in tourist spots.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the Philippines is on its way to becoming an Asian tourism powerhouse in the years ahead? If you own a business that specifically caters to tourists, were able to make significant gains 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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Online lending company raided by police for threatening clients

May 22, 2023May 17, 2023carlocarrasco

Are you a Philippine resident who borrowed money from an online lending company and got threatened by them to push you into paying them back? Another company that lends money got raided by the police over complaints from clients who claimed they were threatened, according to a Manila Bulletin news report. The raided company was located in Pasig City.

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

An online lending company in Barangay San Miguel, Pasig City was raided by operatives of the Philippine National Police – Anti-Cybercrime Group (ACG) on Tuesday, May 16, for allegedly threatening and harassing its customers who have failed to pay their loans.

The company was identified as Realm Shifters Business Process Outsourcing Services, located along Mercedes Avenue in Barangay San Miguel.

According to the Philippine Association of Loan Shark Victims Inc. (PALSVI), a non-profit organization dedicated to helping loan shark victims, the company is one of the many businesses operating online lending applications (OLA) that harass and threaten users for not paying their debts.

The PNP-ACG conducted the raid in response to the complaints made to their office from the victims of the OLA.

A warrant to search and seize computer data was served by the police to the company during the operation.

Digital forensic examinations to extract data and evidence from the computers, mobile phones, and other devices of the OLA agents are ongoing.

Other incidents of malpractice made by the company are also under further investigation by the police.

Let me end this piece by asking you readers: What is your reaction to this recent development? How many people in your local community got harassed by an online lending firm recently?

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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New SBMA chief Tan emphasizes his priority on the ease of doing business and job creation

May 19, 2023May 16, 2023carlocarrasco

In recent times, Jonathan Tan became the new Chairman of the Subic Bay Metropolitan Authority (SBMA) and through his first public interview, he made clear to the people that he is prioritizing the ease of doing business and creating jobs in the Subic Bay Freeport Zone, according to a Manila Bulletin news report. Previously, Tan served as a mayor of Pandan in Antique.

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

Jonathan Tan, the newly appointed Subic Bay Metropolitan Authority (SBMA) chairman and administrator, said he is prioritizing further streamlining in the processing of business permits of investors to ensure ease of doing business and create more jobs at the freeport.

In his first public interview at the Laging Handa Public Briefing as SBMA chief, Tan said he will further streamline business processes at the freeport in compliance with President Ferdinand R. Marcos Jr.’s order to attract more foreign investors and create more jobs at the Subic Bay Freeport zone.

Tan, who served as mayor of Pandan, Antique from 2010 to 2019, reported that he highlighted ease of doing business when he met with Subic investors, locators, and stakeholders during his first Townhall meeting Wednesday since he assumed office last week.

“My priority is ease of doing business to ensure faster processes of business permits,” he said telling around 1,000 SBMA stakeholders. He also vowed to make the Townhall Meeting a regular event to thresh out issues and address them faster.

He also vowed of a participatory governance as SBMA chief, promising to consult all Subic Freeport stakeholders and to treat them as partners.

He also mentioned of efforts to improve existing facilities like port rehabilitation as well as tieups with Department of Tourism and stakeholders with resorts. At present, he said, there are several tourist-related activities in Subic, including, water sports, environmental, and ecotourism.

On smuggling, Tan said he has always emphasized to do his best to minimize if not eliminate smuggling in partnership with the Bureau of Customs.

Let me end this piece by asking you readers: What do you think about this recent development? Do you think that the new SBMA chief and his team will be able to make improvements on the business environment of the Freeport?

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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RCBC chief economist says that Philippine economic growth target likely to be hit this year

May 15, 2023May 12, 2023carlocarrasco

In light of the recent news that the Philippine economy grew by 6.4% in the first quarter of 2023, the chief economist of Rizal Commercial Banking Corporation (RCBC) says that the nation’s economic target for this year (for references, click here and here) will likely be hit, according to a Philippine News Agency (PNA) news report.

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

The government’s 6 to 7 percent economic growth target will likely be met this year despite possible effects of El Niño, an economist said on Friday.

Rizal Commercial Banking Corporation chief economist Michael Ricafort told the Philippine News Agency (PNA) that the 6 to 7 percent gross domestic product (GDP) expansion is possible amid easing year-on-year inflation that could help reduce the drag of higher prices on economic growth.

“Fed (US Federal Reserve) and local policy rates could also be reduced later this year and into 2024 amid easing inflation, and as the economy further reopens towards greater normalcy with no more lockdowns as a policy priority,” he said.

Inflation reached as high as 8.7 percent in January. It has however started to decelerate and settled at 6.6 percent in April.

Ricafort said the possible effects of El Niño later this year and up to 2024 could lead to reduced agricultural output and some pick up in prices, “but would not have a significant drag on GDP growth.” he said.

“[Philippine] economic growth [is] expected to be among the fastest-growing in the region and among major economies around the world amid favorable demographics of the country with more than 110 million Filipinos, majority of Filipinos already at working age, (and) young average age of less than 25 years old, all of which would support GDP growth of at least 6%-7% in the coming years,” he said.

He noted that other possible drivers of growth would be increased consumer spending due to lower individual income tax rates, high overseas Filipino workers’ remittances, further increase in government spending, the continued growth of business process outsourcing, and the resumption of foreign tourism.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the Philippines will achieve 2023 economic growth between 6% to 7%?

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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Nuclear Philippines effort moves forward some more

May 9, 2023May 4, 2023carlocarrasco

The potential future of the Philippines adapting nuclear power that will generate clean and abundant energy for the needs of the people and businesses moved a few more steps forward thanks to two key meetings involving the group of President Ferdinand “Bongbong” Marcos, Jr., and notable energy firms, according to a news article by the Philippine News Agency (PNA). This is the latest in the Marcos administration’s effort to adapt nuclear power for the Philippines (click here and here).

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

President Ferdinand R. Marcos Jr. is considering using a “cutting-edge” micro nuclear fuel technology to address the country’s power woes, Malacañang said Tuesday.

Marcos met with officials of US-based Ultra Safe Nuclear Corporation (USNC), a vertical integrator of nuclear technologies and services in Washington.

In a news release, the Presidential Communications Office said the Marcos administration has made it a top priority to ensure an unhampered supply of energy alongside the promotion and utilization of renewable energy sources.

Francesco Venneri, CEO of Ultra Safe Nuclear Corporation, expressed interest to bringing clean and reliable nuclear energy to the Philippines, which the firm is seriously considering for its first nuclear energy facility in Southeast Asia. Venneri also vowed to help address the series of blackouts that hit several areas of the country.

The Marcos administration earlier swiftly acted on the power crisis in the provinces with the operation of at least three more power stations to provide 24-hour electricity power service.

“We also note that there’s a great deal of discussion about Mindoro having blackouts and that might be an excellent….a good science [solution],” said Venneri.

The micro modular reactor (MMR) energy system is a fourth-generation nuclear energy system that seeks to deliver safe, clean and cost-effective electricity to users, according to USNC officials.

The MMR is being licensed in Canada and the US and considered the first “fission battery” in commercialization.

The company anticipates eventual heavy demand for its MMRs and its nuclear fuel and envisions the Philippines as its nuclear hub in the region.

Earlier, Oregon-based NuScale Power Corporation expressed interest to invest in the Philippines after a meeting with Marcos in Washington.

The PCO said that NuScale, which is known for developing a safe modular, and scalable small nuclear power system, is expected to invest USD6.5 billion to USD7.5 billion (PHP415.5 billion) to provide 462 megawatts to the country by the early 2030s.

It is clear President Marcos is seriously working to solve the nation’s fragile power supply with a focus on nuclear power and related technologies as potential solutions. Compared to nuclear power, solar and wind power are both unreliable. Those two forms of clean energy – which are the favorites of climate change zealots and Leftists – cannot generate the abundant energy that nuclear power could provide.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think that nuclear power in the Philippines will be realized in your lifetime? Do you think it will happen during the term of President Marcos?

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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Muntinlupa City Government releases over P2.5 million zero-interest loans to local entrepreneurs

April 25, 2023April 25, 2023carlocarrasco

Recently in the progressive city of Muntinlupa, the City Government released zero-interest loans to over one hundred and twenty local entrepreneurs amounting to more than P2.5 million, according to a news report by the Manila Bulletin. This is the latest move by the City Government boost the local economy.

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

The Muntinlupa City government released P2.58 million worth of loans with zero interest to local entrepreneurs.

A total of 125 entrepreneurs were the beneficiaries of the city government loans released through the Muntinlupa Entrepreneurship Financing Division (MEFD).

“One of the priorities of the local government is focusing on our home-grown entrepreneurs. This is part of our efforts to boost the local economy,” said Mayor Ruffy Biazon.

The beneficiaries, who are composed of micro, small, and medium-sized enterprises, comprised the 148th batch of the long-running program.

Biazon encouraged the beneficiaries to make the most of this opportunity to improve their business and their way of life.

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 hope to see the City Government release even more zero-interest loans to local entrepreneurs? If you are running a small business in the city, have you availed of the loans from 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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Philippines tourism gains from influx of South Korean visitors

April 19, 2023April 16, 2023carlocarrasco

Tourism in the Philippines continues to progress in terms of attracting visitors from overseas as tourists from South Korea emerged as the top source of foreign visitors this year, according to a news article published by the Philippine News Agency (PNA).

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

South Korea is again the Philippines’ top source of foreign visitors so far this year.

Tourism Secretary Christina Frasco bared this on Thursday when she greeted a batch of 300 travelers from South Korea at the Mactan-Cebu International Airport.

The travelers are members of the Korea branch of UNICITY, a direct selling company on health functional foods, cosmetics and household items and with over 60 markets globally.

As a reward to their top agents, sellers, and distributors, UNICITY-Korea sends a big volume of incentive groups to Southeast Asian countries annually.

This year, the company is sending 1,400 people in four batches (April 9, 13, 17, and 21) to Cebu.

Department of Tourism data showed a significant pick up in Korean arrivals since last year, with 428,014 or a 16.13 percent share of the country’s arrivals received between Feb. 10 — when the country eased its borders for leisure travelers — up until Dec. 31, 2022.

“The good news is that as of today, we have over 1.5 million tourist arrivals to the Philippines and our number one top source market are the Koreans. So we’re very grateful to our friends from Korea for continuing to show their love for the Philippines as they have come back in droves, and the UNICITY group in particular, has come with a delegation of no less than 1,400 individuals,” Frasco said.

Upon their arrival, the travelers were welcomed with leis and performances by Filipiniana-clad rondalla serenaders as well as by Sinulog dancers.

Prior to the pandemic, Korea ranked number one in terms of visitor arrivals to the Philippines, with 1,989,322 or 24.08 percent of the country’s total number of arrivals for 2019.

Arrivals from Korea declined drastically during the pandemic, dropping to 338,877 and 6,456, for 2020 and 2021, respectively.

“They’re coming on a daily basis and the numbers are increasing by the day. Last year, they were at number two, because it is the United States that [provided] our number one top source market. But this year, the Koreans have reclaimed the number one spot and we send out the message to all our friends in Korea, that you are more than welcome to keep coming back again and again to Cebu, Bohol, Palawan, and the rest of our beautiful islands in the Philippines,” Frasco said.

PH as ideal MICE destination

Frasco noted that the arrival of a delegation as big as the UNICITY group is a welcome development especially with the DOT “seeing MICE tourism become a very strong product for the Philippines and also for Cebu.”

“They are staying for a few days and we expect that this will contribute greatly to the economy of Cebu in particular, and to the rest of the country in general, considering the multiplier effect of tourism is really so that they will support our local tourism stakeholders, our small and medium enterprises, and the like,” Frasco said.

To further boost the Korean tourism source market and visitor arrivals, the DOT, through its office in Korea, carries out marketing initiatives including an online presentation to educate the MICE (meetings, incentives, conference, exhibitions) players in the Philippines about the Korean MICE market, as well as participation to upcoming key events such as business-to-business fairs, and a MICE roadshow.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the Philippines will continue to attract even more visitors from South Korea? Do you hope to see some of the South Korean visitors settle here in the Philippines and help build up the national economy by establishing legitimate businesses and creating new jobs?

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

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SBMA chief Paulino declares 2022 a year of record-breaking accomplishments

April 5, 2023April 3, 2023carlocarrasco

During a high-level address to the stakeholders, Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Rolen C. Paulino declared that 2022 was a year of record-breaking accomplishments and the problems related to COVID-19 did not overwhelm them, according to a Business Mirror news article.

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

Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Rolen C. Paulino declared record-breaking accomplishments for Subic in 2022, as he made his first State of the Freeport Address (SOFA) here in a ceremony hosted by the Subic Bay Freeport Chamber of Commerce on Tuesday.

Comparing his administration’s undertakings against agency records in the last three years of the Covid-19 pandemic, Paulino presented a selection of successes under his “RCP” program that stood for revenue, customer-care, and plans and programs.

“2022 was a banner year for the SBMA despite the fact that the country was just recovering from the hiatus brought about by the Covid-19 pandemic,” Paulino said.

“It was an opportune time to work together, so we could bounce back from the debilitating effects of the pandemic, [and] achieve our ultimate goal—to attract investments and, more importantly, create employment,” he added.

According to the Subic chief, revenue collections by various SBMA departments “have increased compared to 2021 figures and even surpassed pre-pandemic performance” because of intensive revenue collection measures.

As a result, the SBMA was able to turn over to the National Treasury a total of P1.33 billion, an amount 20 percent higher than the 2021 dividends of P1.11 billion, Paulino said.

Figures from the SBMA Business and Investment Group (BIG) indicated that the Subic agency recorded revenue collections of P1.69 billion from January to November 2022. Paulino was appointed chief of the SBMA in March 2022 at the tail end of the Duterte presidency.

On the other hand, the 2021 SBMA report to President Duterte indicated an operating revenue for the agency in the amount of P3.47 billion, or P270 million higher than the 2020 revenue.

Paulino also said that in July 2022, the Subic Bay Freeport was named the top tourist attraction in Central Luzon and number five in the Philippines, with 9.4 million same-day visitor arrivals in the free port.

SBMA figures indeed showed a growing year-on-year tourism growth, with the number of same-day visitors rising from 7.89 million in 2016 to 8.54 million in 2017, 9.23 million in 2018 and 9.56 million in 2019 before plunging to 5.19 million in 2020 when the Covid-19 pandemic curtailed tourism activities globally. Recovery, however, started immediately in 2021, putting the annual record at 7.37 million.

In terms of investments, Paulino reported approving 133 new investment projects with total committed investments of P14.06 billion and 38 expansion projects with commitments of P36.34 billion.

“That is a significant jump from P591 million in 2021, let alone P160 million in 2020,” he pointed out, crediting the accomplishment to “the aggressive marketing strategy of our Business and Investment Group.”

SBMA’s business group, according to its 2021 report, had recorded a strong performance at the tail end of the pandemic with P17.29 billion in committed investments in 2021, compared to P9.24 billion in 2019 before the pandemic, and P1.55 billion in 2020 at the height of the pandemic.

Paulino also said that with all the economic activities going on in Subic because of new investments, an additional 4,700 jobs will be created soon on top of the 149,681-strong free port workforce today.

The Subic work force has consistently grown in numbers over the years: from 137,547 in 2019 to 138,966 in 2020, the beginning of the Covid-19 health crisis, and to 142,177 in 2021. Majority of the work force belonged to the services sector, which had continuously increased because of the growth in the transshipment and logistics business here, the SBMA Labor Department said.

Meanwhile, Paulino said that in 2022, the SBMA had provided revenue shares to neighboring local government units (LGU). He said Olongapo City received a total of P74.88 million last year, while Subic got P48.77 million; Castillejos, P29.74 million; San Marcelino, P38.54 million; San Antonio, P27.45 million; Morong, P28.1 million; Hermosa, P33.81 million; and Dinalupihan, P39.98 million for a total of P321.27 million.

This remittance was bigger than the LGU shares given by the SBMA during the pandemic: P277.98 million in 2020 and P306.77 million in 2021, but still did not top the shares given by the SBMA in 2019, which was P378.87 million, or even in 2018 at P369.26 million.

I myself was in the Subic Bay Freeport Zone during the summer of 2022 and I personally witnessed the post-pandemic revival there in the forms of tourists enjoying the places and the stores, restaurants and coffee shops attracting lots of customers. Indeed, the socio-economic recovery in Subic Bay Freeport is real and it will continue even though our nation is being hampered by inflation. If you are thinking about having a good time traveling here in the Philippines, I encourage you to visit the Subic Bay Freeport Zone. Also if you are looking for good places to eat or drink at during your next visit to Subic Bay, check out my feature articles of Gourmet Garage Subic and Xtreme Xpresso Café. Also, there will be a big triathlon event there – the NTT ASTC Subic Bay International Triathlon (SuBIT) 2023.

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