economics – Author Carlo Carrasco

World Bank Sees Below-Target Philippine Economic Growth In 2028

June 18, 2026June 15, 2026carlocarrasco

In its latest analysis of the economy of the Philippines, the World Bank (WB) predicts a below-target economic growth will happen in 2028, 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…

THE WORLD BANK said the Philippine economy is likely to expand by 5.6% in 2028, still below the government’s 6-7% target, amid an expected recovery in public investment.

In the latest Global Economic Prospects report, the World Bank said it retained its gross domestic product (GDP) growth forecasts for the Philippines at 3.7% in 2026 and 5.6% in 2027.

If realized, growth would fall short of the government’s 5-6% target for 2026 but would be at the lower end of its 5.5-6.5% goal for 2027.

“Growth in East Asia and the Pacific excluding China is forecast to improve to 4.9% in 2027-28 as geopolitical uncertainty dissipates, energy prices settle, and demand improves,” the World Bank said.

“Public investment is expected to recuperate in the Philippines, and Indonesia’s growth will be supported by state-led investment initiatives,” it added.

The Philippine economy expanded by a weaker-than-expected 2.8% in the first quarter, the slowest pace since the pandemic, amid lingering uncertainty from last year’s corruption scandal and higher oil prices linked to the Middle East conflict.

“The World Bank’s outlook is plausible, but I would not treat it as the only reasonable scenario,” Ateneo Center for Economic Research and Development Senior Research Fellow Ser Percival K. Peña-Reyes told BusinessWorld.

He said the weak 2026 forecast reflects uncertain global conditions, elevated geopolitical and trade tensions, fiscal consolidation, weather-related disruptions, and food price shocks.

However, Mr. Peña-Reyes said economic expansion this year could be stronger if household consumption remains resilient, inflation continues to ease, infrastructure spending is sustained, investment reforms gain traction, and monetary policy becomes more accommodative.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the economy of the Philippines will keep on growing below the targets set by the government? Could it be possible that an economic recession can still happen in the Philippines in 2028?

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

Vietnam’s New International Airport Powers Up For December 2026 Launch

June 18, 2026June 12, 2026carlocarrasco

The ambitious Long Thanh International Airport of Vietnam was recently switched on using the main power supply which is a milestone and already the local authorities are working on a series of preparations needed for the planned December 2026 commercial launch, according to a VnExpress news report. It has been anticipated that the new international airport will handle most flights in 2027.

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

Long Thanh airport, the VND336.63 trillion (US$12.8 billion) project set to become Vietnam’s largest, has switched on its main power supply, clearing one of the last big infrastructure hurdles before a planned commercial launch at the end of 2026.

The airport’s project management board said on June 10 it had energized the power system together with the Dong Nai Power Company, feeding electricity from a dedicated 110 kV substation into the receiving station run by Airports Corporation of Vietnam (ACV), the state-owned developer building the airport about 40 km east of Ho Chi Minh City.

Stable, continuous power is a prerequisite for what comes next: a series of trial runs that will test the terminal, baggage systems and ground operations before passengers arrive. ACV plans three rounds of trial operations in September, October and November, with official commercial service targeted for December 2026.

The milestone caps a frantic stretch of construction. On June 1, ACV launched a 180-day sprint to finish the airport on time, a push that follows years in which the project wrestled with labor shortages, contractor payment delays and volatile material prices. Roughly 76% of the total project by value is now complete, and the most critical pieces are further along. The aircraft apron near the terminal is more than 88% finished, the fuel system more than 92%, and the connecting roads close to 90%. The passenger terminal, the centerpiece, has its main structure up and is about two-thirds of the way through interior work and equipment installation.

The airfield itself is already operational. Long Thanh’s first runway and apron are complete, and the runway received its first calibration flight in September 2025. In December, a Vietnam Airlines Boeing 787 made the first technical landing, followed days later by the first official flight, both treated as symbolic markers of how close the long-delayed project had come.

Power for the site runs through a substation the Dong Nai Power Company inaugurated on Dec. 16, 2025, built for more than VND158 billion ($6 million). It carries two transformers with a combined capacity of 80 MVA and feeds the airport through six separate 22 kV lines, enough to cover a construction site that already consumes about 730,000 kWh a month and will draw far more once systems are powered up for testing. The station is designed to run unmanned, monitored remotely.

Long Thanh is one of Vietnam’s most ambitious infrastructure bets. Spread across roughly 5,000 hectares, the first phase will handle 25 million passengers and 1.2 million tons of cargo a year. Later phases are designed to lift capacity to as much as 100 million passengers annually, which would make it the country’s largest airport by a wide margin and, ACV hopes, a regional transit hub able to compete with the established gateways in Singapore, Bangkok and Kuala Lumpur.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think all the preparations will be completed before the new international airport launches this December? Do you think the new Long Thanh International Airport will be launched on time at the end of 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.

Note: Cover photo of the Long Thanh International Airport is credited to VnExpress.

+++++

GCash To Implement In-App OTPs On June 22, 2026

June 17, 2026June 15, 2026carlocarrasco

GCash, the popular mobile payments service and electronic wallet, will implement the in-app, one-time password (OTP) feature on June 22, 2026, according to a business news report by GMA News. The move is a serious attempt to prevent digital fraud.

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

Globe-backed fintech GCash is rolling out an in-app one-time password (OTP) feature beginning June 22, 2026.

The security upgrade replaces text-based codes with OTPs delivered directly within the mobile application. To prevent any disruption to transactions and account activities, GCash is urging users to ensure that their device’s push notifications are fully enabled.

GCash said the move is in line with the directive of the Bangko Sentral ng Pilipinas to phase out SMS-based OTPs by June 30, 2026.

The measure also supports the enforcement of the Anti-Financial Account Scamming Act (AFASA), which aims to strengthen cybersecurity safeguards and curb the growing incidence of digital fraud, GCash said.

Let me end this post by asking you readers: What is your reaction to this recent development? If you are an active user of GCash, were you ever a victim of digital fraud or online theft? Do you think GCash’s new move will keep users safe from fraudsters, hackers and scammers?

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

+++++

US Embassy Official Says Philippines Can Lead Nuclear Energy Renaissance With Skilled Workforce

June 16, 2026June 11, 2026carlocarrasco

An official of the United States Embassy stated that the Philippines can play a huge role in the global nuclear energy renaissance if it could develop successfully a skilled and capable workforce, according to a Manila Bulletin news report.

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

The Philippines can play a leading role in the global nuclear energy renaissance if it succeeds in developing a skilled workforce capable of supporting a safe, secure, and modern nuclear sector, a United States (US) Embassy official said on Thursday, June 11.

During the Nuclear Workforce Educational Forum at the University of Makati, US Embassy Counselor for Public Diplomacy Jessica Simon said workforce development remains key to the country’s civil nuclear ambitions, with the United States helping build that talent pool through the Fulbright Program in the Philippines.

“Today’s forum reflects a shared aspiration: that the Philippines will not simply observe the global nuclear energy renaissance, it will help lead it,” she said.

“Central to building a safe, secure, and modern nuclear sector is a skilled workforce. Through the Fulbright Program in the Philippines, the United States is building this workforce together with you,” she went on.

Simon said the Philippines and the United States are marking 80 years of diplomatic relations this year, providing an opportunity to strengthen cooperation in areas that could shape the future of both countries, including civil nuclear development.

“This year, the Philippines and the United States celebrate 80 years of our diplomatic relationship. It’s a chance to look back and celebrate all we’ve accomplished together. It’s also a chance to look forward, to consider everything we can accomplish together over the next 80 years,” she said.

“If anything meets that goal, it’s the work the Philippine American Educational Foundation is doing in support of the Philippines’ civil-nuclear development,” she added.

The forum was organized by the Philippine-American Educational Foundation (PAEF), also known as Fulbright Philippines, under its Freedom 250 initiative, which commemorates the 250th anniversary of the founding of the United States in 2026.

Per Simon, the initiative seeks to foster cross-sector dialogue on issues relevant to both countries by bringing together government agencies, academic institutions, and private-sector stakeholders.

She said the US Mission and PAEF have been working with agencies such as the Department of Energy, Commission on Higher Education (CHED), and Technical Education and Skills Development Authority (TESDA), as well as private energy companies, through programs such as the International Visitor Leadership Program, Fulbright Specialists, and Speaker Programs.

The development of a nuclear workforce, she said, requires contributions from all levels of expertise, from researchers and engineers to skilled technicians.

“At the heart of today’s forum is a simple but powerful insight: building a nuclear workforce requires a full-stack approach,” Simon said.

“Every layer matters, from PhD researchers to licensed engineers to skilled technicians. Neglect the technician layer, and you build a system that looks impressive on paper but cannot function in practice,” she added.

Simon urged participants to translate the discussions into concrete institutional action as the Philippines explores the development of its nuclear energy sector.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Philippines has what it takes to fully develop a skilled workforce that is capable of supporting a safe, secure, and modern nuclear sector?

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

+++++

800 Square Meters Of Land Allotted By SBMA For Luzon Economic Corridor Initiatives

June 15, 2026June 9, 2026carlocarrasco

Subic Bay’s participation in the ambitious Luzon Economic Corridor (LEC) was felt anew as the Subic Bay Metropolitan Authority (SBMA) announced it has allotted eight hundred square meters of land for the LEC initiatives and for the Bases Conversion and Development Authority’s (BCDA) utilization.

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

The Subic Bay Metropolitan Authority (SBMA) has allotted 800-square meters of land to be utilized by the Bases Conversion and Development Authority (BCDA) for the Luzon Economic Corridor (LEC) initiatives.

SBMA Chairman and Administrator Eduardo Jose L. Aliño and BCDA President/ CEO Joshua M. Bingcang formalized this pact in a Memorandum of Agreement (MOA) at the SBMA administration building on June 3, 2026.

SBMA Senior Deputy Administrator for Support Services Atty. Ramon O. Agregado and BCDA Senior Vice President for Conversion and Development Group Engr. Mark P. Torres witnessed the signing of the MOA along with officials and employees from both agencies.

Aliño stated that the designated area will serve as a workspace for BCDA officials and employees involved in official duties throughout the construction of the Subic-Clark-Manila-Batangas (SCMB) Railway Project and the Subic-Clark-Tarlac Expressway (SCTEX) interchange expansion.

“We are delighted to have you join our community. This partnership is more than just us lending you a parcel of land. It is a commitment to building a vibrant, supportive, and sustainable home for your staff. We look forward to ensuring that their living experience here is not only comfortable but truly enriching,” Aliño said.

Meanwhile, Bingcang said that this prepositioning of BCDA officials and staff is part of the agency’s thrust to ensure that the BCDA’s assets in Bataan accelerate investments and development activities in the region.

He added that these combined developments are expected to boost investment inflows further and increase personnel movement and operational demands in and around the Subic-Bataan-Clark growth area.

The agreement signed by the two agencies stipulates the use of an approximately 800-square-meter vacant residential lot located between Lots 95 and 97 Corsair Street, West Kalayaan, Kalayaan Heights District, Subic Bay Freeport Zone.

The allocation was approved by the SBMA Board of Directors through Resolution No. 25-07-1360 dated July 10, 2025, subject to the terms and conditions of the MOA and applicable SBMA rules and regulations.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Luzon Economic Corridor will pave the way for economic breakthroughs in the years to come?

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

Vietnam Achieves 12.4% Tourism Growth In 1st Quarter Of 2026

June 14, 2026June 8, 2026carlocarrasco

Vietnam, a nation that was previously ravaged by war, saw its tourism industry grow by 12.4% in the first quarter of 2026 which is four times higher than the average for the Asia Pacific region, according to a news report of VnExpress. Already Vietnam attracted more than 10 million international visitors during the first five months this year.

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

Vietnam’s tourism sector grew by 12.4% in the first quarter of 2026, outpacing both regional and global averages, according to data from the United Nations Tourism Organization.

UN Tourism reported on June 2 that international tourist arrivals worldwide rose by 2% year-on-year in the first quarter, reaching around 307 million travelers.

Meanwhile, data from the Vietnam National Authority of Tourism showed that the country welcomed nearly 6.8 million international visitors during the first three months of the year, up 12.4% from the same period in 2025.

The growth rate was four times higher than the average for Asia-Pacific.

The momentum continued into the first five months of the year, with international arrivals increasing by nearly 15%.

The Vietnam National Authority of Tourism attributed the strong performance to several factors, including political stability, welcoming environment, diverse tourism products, and improving service quality.

Tourism officials also cited effective tourism promotion campaigns, market diversification efforts, visa facilitation measures, and expanded international flight connections as key drivers of growth.

Amid ongoing global economic and geopolitical uncertainty, the results underscore the resilience and adaptability of Vietnam’s tourism industry.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think Vietnam will close the gap with Thailand and Malaysia when it comes to attracting foreign tourists this year? Do you think the current tourism boom will create even more jobs and new businesses in Vietnam?

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

+++++

Japan’s Steelmaker To Invest Up To $2.5 Billion In America

June 12, 2026June 11, 2026carlocarrasco

The steel industry of the United States will receive a much-needed boost as Japanese steel giant Nippon Steel Corp. will invest up to $2.5 billion in the Pennsylvania-based Mon Valley Works over the next three years, according to a news article by Jiji Press.

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

Nippon Steel Corp. plans to invest up to 2.5 billion dollars in United States Steel Corp.’s Mon Valley Works in Pennsylvania over the next three years, the U.S. steelmaker said Monday.

“The total investment may range from approximately 2 billion to 2.5 billion dollars, more than double the original commitment” of the Japanese steelmaker, which acquired U.S. Steel last year, the Pittsburgh-based company said.

The investment includes construction of a new hot strip mill, set to replace an 87-year-old facility to produce high-value steel products such as those used in automobiles, U.S. Steel said.

The U.S. steelmaker said that the investment would generate 1.7 billion dollars in economic impact and create up to 6,381 jobs in Pennsylvania over three years.

The investment will deliver “lasting benefits to Pennsylvania workers, businesses, and communities,” U.S. Steel said.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think this major investment pledge by the Japanese steel giant will be economically beneficial to the steel workers, small businesses and local communities in the state of Pennsylvania? Do you think more Japanese investment in America will lift up the nation’s economy as long as the ties between US President Donald Trump and Japanese Prime Minister Takaichi Sanae remain strong?

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

America’s Ban On Importing Crab Meat From The Philippines Takes Effect

June 12, 2026June 11, 2026carlocarrasco

Due to the Philippines’ failure to comply with the US Marine Mammal Protection Act (MMPA), the United States’ ban on importing Philippine crab meat officially took effect, according to a business news report by the Philippine Star. This latest development is another embarrassment for the Philippines as it is the only Association of Southeast Asian Nations (ASEAN) member nation that failed the US comparability assessment. It should be noted that the Philippines took pride in hosting the ASEAN Summit this year.

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

As the US import ban on Philippine crab meat takes effect today, the blue swimming crab industry is bracing for massive economic losses – estimated at P6 billion to P7 billion annually – and job displacements, an industry stakeholder said.

Former E.B. Magalona mayor and crab meat exporter Alfonso Gamboa said the country’s failure to comply with the US Marine Mammal Protection Act (MMPA) led to the loss of its largest export market.

About 90 percent of Philippine crab meat production is exported to the United States, Gamboa said.

The United States National Marine Fisheries Service (NMFS) announced on May 12 that imports of Philippine blue swimming crab products would be restricted due to inadequate documentation on mandatory marine mammal protection and bycatch monitoring programs.

Gamboa, president of Saravia Blue Crab Inc., a major blue crab processing company, said the Philippines is the only ASEAN country that failed the US comparability assessment, noting that Indonesia, Sri Lanka, India, Vietnam and even China were able to comply.

“We failed because of insufficient documentation and monitoring measures concerning marine mammal protection,” he said.

Gamboa said the industry had already been experiencing difficulties since September 2025 when Philippine exporters were initially denied access to the US market. An appeal filed in January 2026 was likewise unsuccessful.

“In other words, the Bureau of Fisheries and Aquatic Resources (BFAR) did not do its job,” he said.

Gamboa estimated that around 10,000 fishermen and an additional 4,000 to 5,000 crab meat pickers in Negros, Panay, Bicol, Samar, Leyte and parts of Mindanao could be affected by the loss of the US market.

Major production areas include the Visayan Sea, Guimaras Strait, San Miguel Bay, Masbate, Sorsogon, Camarines Norte and Camarines Sur.

The Philippines exports approximately 500,000 pounds of crab meat monthly to the US, with products sourced from processing facilities in Bacolod, Iloilo, Cebu, and other coastal communities.

Although alternative markets such as China, the European Union, Canada and Australia remain available, Gamboa said they are too small to absorb the volume previously purchased by US buyers.

“These markets cannot absorb the displaced workers or the volume we used to ship to the United States,” he said.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the government of the Philippines will be able to act quickly to gain access to the United States for its crab meat exports? Who in Bureau of Fisheries and Aquatic Resources (BFAR) should be held responsible for the failure to comply with the US Marine Mammal Protection Act (MMPA)?

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

+++++

America Tags BYD, Alibaba, Baidu And Others For Involvement With Chinese Military

June 10, 2026June 9, 2026carlocarrasco

Business giants Alibaba, Baidu, BYD and many other Chinese companies have officially been identified by the United States Department of Defense (DoD) as entities that were involved with the military of Communist China, according to a Kyodo News report.

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

The U.S. Defense Department said Monday it has added Alibaba Group Holding Ltd., Baidu Inc., BYD Co. and other leading Chinese companies to a long list of entities it believes to be working with China’s military.

The expansion of the list comes after U.S. President Donald Trump and Chinese President Xi Jinping agreed to stabilize bilateral relations during talks in Beijing in mid-May, despite intense geopolitical rivalry and disputes over numerous issues.

In designating the companies, the U.S. department asserted that BYD, China’s largest electric vehicle maker, and internet titans Alibaba and Baidu contribute to the country’s defense industrial base as they are affiliated with its Ministry of Industry and Information Technology.

The Pentagon believes China’s “military-civil fusion” strategy has helped modernize the People’s Liberation Army. It is required by law to annually update and publish the list of so-called Chinese military companies operating directly or indirectly in the United States.

While appearing on the list does not lead immediately to legal steps by U.S. agencies, such as export controls or sanctions, the reputations of those named can be impacted. The department is also restricted from entering into contracts with designated entities.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think this development will influence other governments and corporations to avoid signing contracts with Chinese companies that have been working with China’s military? Do you think your local or regional government has signed deals with any of the Chinese companies that have been tagged by the US Department of Defense? Are you concerned that Chinese businesses have stolen technologies and other pieces of critical information from your nation’s government or the private sector?

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

10.6 Million Foreign Tourists Visited Vietnam In January-May 2026 Period

June 10, 2026June 3, 2026carlocarrasco

Vietnam, a nation that was previously ravaged by war, continues to be a strong magnet of visitors as 10.6 million foreign tourists have visited in the first five months of this year, according to a news report by VnExpress. The reported figure is significant as Vietnam attracted over 21 million foreign tourists last year.

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

Vietnam received a record 10.6 million international visitors in the first five months of 2026, up 14.9% year-on-year.

Data released by the General Statistics Office shows there were 1.78 million arrivals in May alone, up 17%.

The 10 largest source of visitors during the period were mainland China, South Korea, Russia, Taiwan, Cambodia, the U.S., India, Japan, the Philippines and Australia.

The Vietnam National Administration of Tourism attributed the strong growth to the country’s reputation as a safe and stable destination amid global political uncertainty.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think Vietnam will be able to attract as many as 25 million foreign tourists by the end of 2026? Do you plan to visit Vietnam someday?

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

+++++

	Mike V on What Does Trump’s Deal With Ir…
	Akiva on What Does Trump’s Deal With Ir…
	Instapundit »… on What Does Trump’s Deal With Ir…
	Instapundit »… on America Tags BYD, Alibaba, Bai…
	Kent Nebergall on American AI Companies Targetin…

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this: