COVID-19 Crisis: President Marcos says the economy of the Philippines will go beyond pre-pandemic level

Things are looking bleak economically. Recently the Philippine Peso reached another record low to the United States Dollar on the foreign exchange market. The local stock market lost a lot of points as well. Regardless, President Ferdinand “Bongbong” Marcos stated that the economy of the Philippines will not just recover but grow higher than what was achieved before the COVID-19 crisis affected everyone, according to a Philippine News Agency (PNA) article.

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

The Philippine economy will go beyond its pre-pandemic growth, President Ferdinand Marcos Jr. said Friday (Manila time), as he confidently talked about progress amid the coronavirus disease 2019 (Covid-19) pandemic.

During his meeting with members of Asia Society at The Carlyle Hotel in New York City, Marcos said his administration has laid out measures that will help reinvigorate the economy.

We don’t want to just catch up. We want to go beyond that. We have no interest in going back to pre-pandemic levels. What we are interested in is to flourish further and to position the Philippines in such a way that we can take full advantage of the new economies and the new industries that have come to light,” Marcos said in his speech.

Sustained cooperation and collaboration with the private sector and other governments would lead to the realization of his administration’s bid to make the Philippines a new and transformed country, the President said.

He said the Philippines is a “viable and smart” investment destination, given its macroeconomic fundamentals, enabling policies, and human capital.

“They recognize the Philippines, our country, for its business-friendly policies, a very competent workforce, and a network of economic zones,” he said. “These are interesting times and there are many things to accomplish. The far-reaching ill-effects of the pandemic compel us to reinvigorate our economies in a spirit of sustained cooperation and collaboration.”

Marcos noted that the Philippine economy expanded by 5.7 percent in 2021 and 7.8 percent in the first half of 2021 because of government spending, household consumption, and investments reinforced by consumer and business confidence.

He also cited “investor-friendly” laws that seek to “leverage game-changing reforms.”

Marcos told the group about the “young, educated, hardworking, and English-speaking” Philippine workforce that is globally competitive.

He expressed hope to get more investments for his administration’s priority sectors, which include agriculture; nuclear energy; health systems; information technology and business process management; digital connectivity; and manufacturing, including the critical sectors of semiconductors, green metals, and electric vehicles.

We must use public and private resources effectively to encourage the expansion of trade, investment, technology transfers, all to accelerate our development,” Marcos said.

Despite the challenges caused by the Covid-19 pandemic and the global economic crisis, Marcos said the Philippines remains on track to “graduate to upper middle-income-country status” by 2023 and become a “high-income country” by 2040.

With steady investments in infrastructure, agriculture, food security, public health, education, and other social services, we seek to become a high-income country, with zero extreme poverty by the year 2040,” he said.

“Certainly, the world continues to be faced by enormous challenges, but I am confident in the future because I have 110 million reasons for being so. Such is my faith in the Filipino people and the relationship we hold with the United States and our other allies and partners and friends,” Marcos added.

Asia Society is a nonpartisan, nonprofit organization that works to build bridges of understanding between the East and West.

Let me end this by asking you readers: What is your reaction to this latest development? Are you eager to see the socio-economic plans of the Marcos administration to be implemented as soon as possible so that the national economy will be reinvigorated? Do you think that the pandemic  may have opened up new opportunities for business innovations and e-commerce to transpire nationwide?

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

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Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. If you want to support my website, please consider making a donation. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco/.

Muntinlupa City releases P2.26 million zero-interest loans to local entrepreneurs

In the progressive City of Muntinlupa, more than P2 million worth of zero-interest loans were released by the City Government to more than a hundred local entrepreneurs who collectively handle MSMEs (micro-small-medium sized enterprises), according to a Manila Bulletin news report.

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

A total of 103 owners of micro, small, and medium enterprises (MSMEs) in Muntinlupa received P2.26 million zero-interest loans from the city government on Friday, Sept. 9.

The office of the Joint Resources Financing Program held the orientation and release of loans to batches 140 and 142 of the beneficiaries of the Tulong Negosyo at the Ayala Malls South Park.

One of them is Maria Dolores Noble, a “sari-sari” store owner and “adobong mani” manufacturer from Barangay Buli who got a P150,000 loan under the program.

Tulong Negosyo caters to MSMEs and provides micro-finance assistance ranging from P2,000 up to P150,000 depending on the business capital ceiling and payment record of beneficiaries.

The program aims to provide additional capital for business expansion for aspiring and established business owners in Muntinlupa, the first LGU to introduce a micro-financing program.

The Joint Resources Financing Program thanked Mayor Ruffy Biazon for his continued support in helping the growth of small businesses in Muntinlupa.

Let me end this piece by asking you readers: If you are a Muntinlupa City resident, what is your reaction to this development? If you are running a micro, small or medium-sized enterprise, do you intend to avail of a zero-interest loan 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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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

Get ready for the “Build, Better, More” infrastructure program

If there is something highly significant done by the previous administration under former Philippine President Rodrigo Duterte that a lot of people will benefit from, it would be the “Build Build Build” infrastructure program which was designed to grow the economy, reduce poverty and solve congestion. This resulted in expansion and improvements through projects on roads, bridges, highways, airports and also water resources. For more on the impact of “Build Build Build”, click here and here.

Of course, the 6-year term of Duterte was ultimately insufficient to complete all the projects of the program (note: the incomplete ones are still continuing) and now we have a new leader with President Ferdinand “Bongbong” Marcos, Jr., who specifically mentioned infrastructure during his State of the Nation Address (SONA).

Yesterday, it was reported by the Manila Bulletin that a new infrastructure program under the Marcos administration has officially been announced as “Build, Better, More”. Other than the name, there are notable details listed which will give people a clear idea about what to expect about the continued development of Philippine infrastructure.

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

“Build, Better, More”–or BBM for short–is officially a program of the Marcos administration, and the executive branch is asking P1.196 trillion from Congress in order to fund it next year.

Department of Budget and Management (DBM) Secretary Amenah Pangandaman acknowledged during a press conference with House reporters Monday, Aug. 22 that the BBM program was an “expansion” of the previous Duterte administration’s “Build, Build, Build” infrastructure modernization initiative.

BBM is also the initials of the incumbent President Ferdinand “Bongbong” Marcos Jr.

The BBM program was listed as a “spending priority” on the DBM’s briefer on the 2023 National Expenditure Program (NEP), which the agency submitted to the House of Representatives Monday.

A total of P1.196 trillion has been allocated for the government’s 2023 infrastructure programs,” read a statement from DBM, referring to the budget being sought from lawmakers.

“The Department of Public Works and Highways (DPWH) will receive [a] P718.4-[billion] budget in 2023, while the Department of Transportation will receive P167.1 [billion] in 2023–an increase by 120.4 percent for its P75.8-[billion] budget in 2022, which covers the augmented funding requirements for various foreign assisted railway projects,” it stated.

Pangandaman said during the presser that BBM includes “convergence programs with Department of Tourism, Department of Education, Department of Agriculture, and Department of Trade and Industry”.

“Related po doon sa Build, Better, More program natin (Related to our Build, Better, More program), which is an expansion of the Build, Build, Build program are programs po under the DOTr,” the DBM chief noted.

Among the major transportation infrastructure projects that will be implemented include the North-South Commuter Railway (costing P75.1 billion), Metro Manila Subway Project (P26.3 billion), and Light Rail Transit (LRT) Line 1 Cavite Extension Project (P2.7 billion).

Also linked to the BBM program are more specific infrastructure initiatives such as the Network Development Program (P140.4 billion), Asset Preservation Program (P88.5 billion), and Bridge Program (P38 billion).

Pangandaman said that the Network Development Program’s purpose is to “expand the connectivity and road systems across the country”. On the other hand, the Asset Preservation Program involves “maintenance, rehabilitation, and reconstruction”.

“We also have the Bridge Program po, [the] construction and maintenance and repair of bridges,” she added.

In his State of the Nation Address (SONA) last July 25, Marcos said, “The backbone of an economy is its infrastructure. The infrastructure program of the Duterte administration must not only continue but, whenever possible, be expanded. We shall confidently build on this firm foundation established by my predecessor. As it is in building an edifice, we must keep the momentum and aspire to Build Better More.”

The 2023 NEP, which is the precursor of the General Appropriations Bill (GAB) or proposed national budget, will be scrutinized first in the House of Representatives. It will eventually endorse to the Senate its GAB after they approve it on third and final reading.

Regardless of who is in-charge in the national government, I personally favor the widespread, massive development of infrastructure projects around the country. In my honest opinion, improved and expanded infrastructure will pave way for better economic growth covering vast sectors like industry, commerce, tourism, real estate, agriculture and more. The past Build, Build, Build and the new Build, Better, More are clearly more than just about solving traffic congestion. The Marcos administration now has the task of implementing the new infrastructure program which will not only improve infrastructure but also create new jobs.

Let me end this piece by asking you readers: What is your reaction to this recent development? Are you glad that President Marcos and his administration are focused on continuing the momentum of massive infrastructure development that his predecessor started? What kind infrastructure projects would you want the nation government to start working on?

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

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

P220 million worth of hoarded sugar seized in three raids

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.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Muntinlupa City finishes 8th among cities nationwide in collection efficiency of local revenues for 2021

The City Government of Muntinlupa just added a new achievement to its record as it finished 8th among the many cities of the nation with regards to collection efficiency of local revenues for the year 2021, the Manila Bulletin reported.

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

The Muntinlupa City government took eighth place among cities in the Philippines in collection efficiency of local revenues in 2021.

The Bureau of Local Government Finance (BLGF) under the Department of Finance (DOF) announced the top performing provinces, cities, and municipalities based on locally sourced revenues (LSRs).

LSRs “are collections generated by LGUs [local government units] from real property tax, tax on business, other taxes, regulatory fees, service/user charges, and receipts from economic enterprises,” according to the BLGF.

“External Sources, on the other hand, are from Internal Revenue Allotment (IRA), other shares from national tax collection, inter-local transfer and extraordinary receipts/grants/donations/aids while other receipts include interest income and miscellaneous income,” according to the bureau.

Based on collection efficiency of LSRs, Muntinlupa LGU recorded a collection rate of 129.8 percent when its LSRs in 2021 totaled P3.728 billion, exceeding the target of P2.871 billion.

Congratulations, Muntinlupa City! With a collection efficiency of 129.8%, Muntinlupa City is Top 8 in Collection Efficiency of Locally Sourced Revenues Nationwide for fiscal year 2021,” Muntinlupa Mayor Ruffy Biazon posted on Facebook.

The top 10 cities in collection efficiency of LSRs are Urdaneta City in Pangasinan, Taguig, Dasmarinas in Cavite, San Pedro in Laguna, Valenzuela, Roxas City in Capiz, Lapu-Lapu in Cebu, Muntinlupa, Cagayan de Oro City, and San Juan.

Let me end this piece by asking you readers: If you are a Muntinlupa City resident, what is your reaction to this recent development? Are you feeling happy knowing that collection efficiency by the City Government has been very good?

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

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Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. If you want to support my website, please consider making a donation. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/and on Instagram athttps://www.instagram.com/authorcarlocarrasco/.

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

President Marcos on nuclear power plants in the Philippines

Last March, I highlighted an article published by the Philippine News Agency (PNA) related to nuclear power for the Philippines. Personally, I favor the use of nuclear power and the construction of nuclear power plants in the Philippines not just because it will provide clean and abundant energy but also because technologies and other means related to it all have advanced through the years. 

That being said, it was good that our new President Ferdinand “Bongbong” Marcos, Jr., mentioned nuclear power during the recent State of the Nation Address (SONA) specifically referring to the nation’s strategy towards building new nuclear power plants.

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

President Ferdinand “Bongbong” Marcos Jr. again expressed his desire to adopt nuclear energy as part of the country’s power mix, but said the government’s strategy has to be rethought.

I believe it is time to re-examine our strategy towards building nuclear power plants in the Philippines,” Marcos said in his first State of the Nation Address (SONA) on Monday.

Marcos, however, did not mention the revival of the Bataan Nuclear Power Plant (BNPP), a project during his late father Ferdinand Marcos Sr.’s regime which has been mothballed for more than three decades.

In 1976, Marcos Sr. ordered the construction of the $2.3-billion BNPP, but it was shelved after three years due to safety concerns.

The Duterte administration had pegged the cost of reviving the BNPP at around $1 billion.

The President, instead, said that “there have been new technologies developed that allow smaller scale modular nuclear plants and other derivations thereof.

In October 2019, Russian State Nuclear Energy Corp. (Rosatom) Overseas JSC and the Department of Energy (DOE) signed a memorandum of intent on cooperation to conduct a pre-feasibility study on the construction in the Philippines of nuclear power plants based on small modular reactor (SMR) technology.

Nevertheless, Marcos said the Philippines will comply with the International Atomic Energy Agency (IAEA) regulations for nuclear power plants “as they have been strengthened after Fukushima.

The President said that public-private partnerships will play a role in realizing the goal of adopting nuclear power.

In the Philippine Senate, there is already support for President Marcos’ plan. Posted below is an excerpt from the Philippine News Agency article. Some parts in boldface…

Senate President Juan Miguel Zubiri said Tuesday he will fully support the plan of President Ferdinand Marcos Jr. to explore the country’s potentials on nuclear energy as a cheap and reliable source.

Marcos said in his first State of the Nation Address (SONA) on Monday that if the country wants to attract investors, both local and foreign, energy-level production must be increased.

“Why not? We are one of the few countries that have not looked at the nuclear option in Southeast Asia. The countries that are developing nuclear power in Asia — Indonesia, Thailand, Vietnam, Malaysia, even Singapore, are looking at the nuclear option, smaller nuclear power plants, and even Myanmar. We’re already left behind,” Zubiri said in an interview with a news channel.

Despite being a renewable energy advocate, as evidenced by the Renewable Energy Act which he authored, Zubiri admitted that there are not enough efforts to produce the energy requirement the country needs over the next six years.

If you want to have an 8-percent GDP (Gross Domestic Product) growth rate, we better have an energy sector that is robust, that can deliver the power the different industries need to be able to power other programs and projects,” he said.

A nuclear power plant, Zubiri said, might take six years to develop starting from its infancy, but can deliver thousands of megawatts from a single plant.

He said the facility must be built right, strong enough to withstand calamities, and away from earthquake faults.

Senate President Pro Tempore Loren Legarda, a known environmentalist, said she is open to exploring the possibility of nuclear energy but it must be considered “clean energy”.

“I may not be an expert in nuclear energy. I am open to hearing discussions and consultations with various stakeholders and experts in science on nuclear energy. I have read that nuclear energy is said to be clean. However, what about the nuclear waste? I am interested to know how it will be handled. At the same time, the safety measures,” she said.

Senator Francis Tolentino is likewise in favor of nuclear energy, which he learned has zero emission.

Meanwhile, the government of France is willing to help the Philippines on nuclear power development. France itself has been a major nuclear power player and therefore their willingness to share their expertise is significant for Filipinos. Posted below is an excerpt from the PNA article. Some parts in boldface…

The French government is keen to help the Philippines develop its nuclear power program as the Marcos administration looks for other reliable sources of energy.

French Ambassador Michèle Boccoz said the embassy has met with some of the Cabinet members and nuclear power was listed among the key areas Paris and Manila could cooperate on.

“(T)here’s obviously an interest. As I said, we have an experience and expertise in many different sectors of renewable energy, including the nuclear sector,” Boccoz said at a reception in Makati City on Tuesday.

She said working on small modular reactors is “probably much more realistic” than reviving the Bataan Nuclear Power Plant.

“I think that this is a thing of the past because the technologies have evolved so much that it wouldn’t really make sense to work to build this kind of project and it’s probably too big and it probably needs too much of the grid to be operational,” she added.

“So having a sort of more modular systems is probably much more realistic and also in terms of the terrain here and the systemic risks and others. These are much smaller units that can be much more easily protected.”

Boccoz, meanwhile, clarified that talks are still in the “very early stages” as Manila has to put in place a framework first.

Let me end this piece by asking you readers: What do you think about the renewed national interest about nuclear power? Are the climate change extremists and modern day Leftists still lying to you that nuclear power is bad while unreliable energy forms like solar and wind power are better? Are you willing to give nuclear power in the Philippines a chance?

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

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Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. If you want to support my website, please consider making a donation. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco/.

I Love Israel: Israel’s OurCrowd and Philippine investment firm establish partnership

If you are looking for breakthroughs within Israel-Philippine ties related to business or economics, be delighted over the news that an Israeli firm partnered with a local firm that will create opportunities for growth with regards to investing, according to a Manila Standard news report.

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

OurCrowd, Israel’s most active venture platform, and Einhorn Resources Inc, a Philippine investment firm, today announced a partnership that will provide Einhorn clients direct access to OurCrowd’s exclusive investments and mentorships to facilitate growth of Philippine startups.

The partnership was signed in Tel Aviv, Israel, between Dan Bennett, OurCrowd’s General Partner & Managing Director of Australia and Asia, and Jean Henri Lhuillier, Einhorn Resources Inc. CEO.

This new partnership is an exciting opportunity to extend our pipeline into the vibrant investment community in the Philippines and to help nurture its startup ecosystem,” said Dan Bennett. “Einhorn Resources’ deep knowledge of the Philippine investment landscape will be instrumental to bringing our top-tier technology talent to that part of the world.

“Not only are we raising money for these opportunities both in Israel, the US and beyond, but this is an important opportunity for corporates and family offices to invest from the Philippines and to attract technology that will benefit their core business.” 

This collaboration, the first of its kind in the Philippines, provides Einhorn clients direct access to one of the world’s leading online venture platforms. OurWorld currently has $1.9 billion in commitments and has deployed capital to more than 347 portfolio companies and 39 funds in five continents. It also has 200,000 registered members from 195 countries which it allows to participate in vetted and early-stage firms and funds.

Currently, plans are being made to set up a regional incubator that will give growth opportunities to Philippine startups looking for Israeli tech expertise.

We are excited to work with OurCrowd to pave the way for stronger ties for investment opportunities, traditional companies and tech solution collaborations,” said Jean Henri Lhuillier. “The partnership aims to open the funnel to a Philippine network of investors who can choose relevant companies to invest in as well as customize an online portfolio.”

Indeed, the OurCrowd-Einhorn partnership is a very welcome development and its impact will be felt in the years to come. Both the Philippines and Israel endured hardships related to the COVID-19 crisis over the past few years but there are efforts to not only recover economically and socially, but also emerge stronger from the pandemic. The economy of the Philippines is growing but more opportunities related to investing are needed and this is where the OurCrowd-Einhorn partnership comes in. To the local entrepreneurs reading this, please pay close attention to the above excerpt and start considering looking to Israel for opportunities and innovations in business. This partnership is truly a blessing from the Lord for both Israel and the Philippines! 

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 and pray for President Marcos and all the other government officials who recently took office. Pray also for Israel constantly.

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 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/.

The new normal for bread from the local bakeries?

Have you been paying more for pandesal at your local bakery? In my experience, I love the pandesal of Mang Pandesal located along Tropical Avenue, BF International in Las Piñas City.  When I first visited them in 2019, they sold pieces of pandesal at P2 each. That is no longer the case anymore. Two days ago, I visited Mang Pandesal ang bought 20 pieces of pandesal at P2.50 each. That’s a total of P50.

Do the math, P2.50 is a notable increase of 25% over the previous price of P2 per pandesal which lasted for years at Mang Pandesal. While I still will buy pandesal from Mang Pandesal (note: they’re still the best in the BF Homes community), I am more conscious about how many pieces to buy each time I visit them.

Even as our country continues to struggle to recover from the COVID-19 crisis socially and economically, we have no choice but to face the new normal of bread from the local bakeries…a new normal of higher prices and/or smaller sizes of bread. There are both internal and external economic forces that have been affecting the many local bakeries around the Philippines. High fuel prices are just the tip of the iceberg, literally.

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

Expect local bread to get smaller but become more expensive at the same time.

Albay 2nd district Rep. Joey Salceda made this rather depressing prediction as wheat, eggs, and sugar–all vital ingredients to breadmaking–have all shot up in price.

Salceda even has a clever word for it: “shrinkflation”.

“Bread will probably be the hardest hit by shrinkflation. Wheat prices have increased by 165 percent. At that point, breadmakers will probably both increase prices and shrink sizes,” the economist-solon said in a statement Sunday night, July 17.

Last March, Salceda warned of higher bread prices amid the Russia-Ukraine conflict, which affected the trade of wheat.

Egg prices are also threatening to go out of control. Sugar supply is already problematic, noted the Bicolano.

“What we are likely to see us shrinkflation. Goods getting smaller instead of higher prices,” he noted.

Salceda said that while the government continues to try to control price hikes and resolve supply issues, manufacturers and millers can “fortify their products with vitamins and minerals”.

“Nutrition should be part of Science for Change, which is the DOST’s (Department of Science and Technology) flagship program. This should be one of the most relevant and immediate applications.

“Secretary [Fortunato] dela Pena also asked millers and breadmakers to consider other alternatives and additives to maintain nutritional value without increasing prices or reducing sizes significantly…So, in the meantime, while we solve the structural issues affecting price and supply, we can adapt,” the lawmaker said.

Pieces of pandesal.

Meanwhile, the Malaya Business Insight recently published an article about the struggle of community bakers. Posted below is an excerpt of their article with some parts in boldface…

Community bakers have lost 20 percent of their members due to the twin effects of the pandemic and rising raw material prices.

Princess Lunar, director of the Asosasyon ng Panaderong Pilipino, told the Balitaan sa Maynila yesterday, the fair price of pandesal should be P4 per piece to maintain its quality but bakers continue to sell at P2 to P2.50  but the size has considerably shrank to 18 grams.

Lunar said at P4, pandesal size can be restored to 30 g.

While pandesal is not a regulated commodity, community bakers cannot increase their prices because of competition among themselves as well as with commercial and industrial bakers which have economies of scale.

She said the group plans to come up with variants of pandesal at a much  bigger size  enhanced with more nutritious ingredients from agricultural crops like potato, cassava and other starches. The group plans to sell this at P8 to P10 per piece.

The value-added product can help elevate the stature of the pandesal which Lunar has termed as the “pambansang tinapay.”

She appealed to government to assist the group in conducting trainings to improve further the quality of their breads especially pandesal and ensure its sustainability.

Lunar said prior to the pandemic, about 40 percent of the flour requirements for bread go to community bakers. This has since shrank to 19 percent.

Lunar said from P785 per bag, the price of flour has gone up to P1,000. Since January when the Russia-Ukraine crisis started, the price of flour has gone up by P100 to P150 per bag.

Let me end this piece by asking you readers: Have you been paying more for pandesal at your local bakery? Does each pandesal piece look smaller in terms of size and content in relation to what you paid for? Are you willing to pay P4 per piece of pandesal? Are there any bakeries in your local community that shut down recently? Apart from pandesal, what other types of bread do you buy from your local community bakery?

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

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Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others as well as 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

Las Piñas City Mayor Aguilar to double efforts on serving the constituents

Last week in the City of Las Piñas, Mayor Imelda Aguilar and several other officials of the City Government took their respective oaths to serve the constituents over the next three years. Now on her third consecutive term as Mayor, Aguilar reportedly vowed to double her efforts on serving the locals through the program titled “Tuloy ang Tapat at Progresibong Serbisyo”, according to a Manila Times news article.

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

REELECTED Las Piñas City Mayor Imelda “Mel” Tobias Aguilar vowed to continue and double the efforts of her “Tuloy ang Tapat at Progresibong Serbisyo” program as she took her oath of office Thursday afternoon.

In a social media post, Aguilar was sworn in at the Las Piñas City Hall where she was with her running mate and daughter Vice Mayor April Aguilar and other allies.

She expressed the belief that the elected councilors under the mother and daughter tandem will work harder and continue to promote resolutions and ordinances to make the city more progressive and prosperous.

“Nangako po ang alkalde ng tuluy-tuloy at mas maayos na serbisyo para sa mga Las Piñeros sa pamamagitan ng “Tuloy ang Tapat at Progresibong Serbisyo” program (The mayor promised continuous and better service for the people of Las Piñeros through the “Continued Honest and Progressive Service” program),” she said.

Aguilar allies in District 1 are Councilors Mark Anthony G. Santos; John Jess Anthony C. Bustamante; Felimon A. Aguilar 3rd; Rex H. Riguera; Oscar C. Peña and Florante S. Dela Cruz.

Those in District 2 are Councilors Henry C. Medina; Luis I. Bustamante; Ruben C. Ramos; Lord Linley R. Aguilar; Danilo V. Hernandez and Emmanuel Luis C. Casimiro.

The 75-year-old mayor, who ran under the Nacionalista Party (NP), garnered 108,644 votes.

Let me end this piece by asking you readers: If you are a Las Piñas City resident, what is your reaction to this recent development? As a local resident, did you benefit somehow under the leadership of Mayor Imelda Aguilar since mid-2016? What do you hope to see from the City Government over the next three years with regards to public service? Do you think the City Government have a plan to boost local businesses with COVID-19 recovery and job creation 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.

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Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. 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

Muntinlupa City declared the Most Resilient among all Highly Urbanized Cities

The progressive City of Muntinlupa continued to make waves around the nation as the Department of Trade and Industry (DTI) formally recognized it for achieving 1st place in the category of resiliency among all the Highly Urbanized Cities (HUCs) of the nation based on the results of the 2021 Cities and Municipalities Competitiveness Index (CMCI), the Manila Bulletin reported. The plaque of recognition was received by the City Government.

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

The Department of Trade and Industry (DTI) awarded the Muntinlupa city government a plaque of recognition on Wednesday, June 29, for ranking No. 1 in resiliency among all highly-urbanized cities (HUCs) in the country under the 2021 Cities and Municipalities Competitiveness Index (CMCI).

According to the CMCI website, “local competitiveness is how a city or municipality knows its resources and how it uses these to improve its standard of living.

Outgoing Mayor and congressman-elect Jaime Fresnedi received the plaque of recognition from DTI Competitiveness Bureau Director Lilian Salonga.

Muntinlupa topped the resilience pillar of CMCI for two consecutive years. The resiliency pillar ranking is based on annual disaster drill, budget for disaster risk reduction and management plan, disaster risk reduction plan, emergency infrastructure, employed population, early warning system, local risk assessments, land use plan, sanitary system and utilities.

Also joining the program were City Administrator Allan Cachuela, Business Permits and Licensing Office executives led by Eli Hilapo, City Planning and Development Office acting chief Alvin Veron, International Relations Officer James Arriola, National Quality and Competitiveness Division chief Ma. Sheryl Santos, and DTI-NCRO Area 2 Division Chief Rowena D.B. San Jose.

The DTI, through the National Competitiveness Council, conducts the annual CMCI, which ranks local government units in the country based on four pillars: economic dynamism, government efficiency, infrastructure, and resiliency.

In the 2021 rankings for highly-urbanized cities in the country, defined as LGUs with at least 200,000 population and latest annual income of at least P50 million, Muntinlupa ranked first with a score of 20.68.

In the overall CMCI rankings for HUCs in the country, Muntinlupa placed fifth with a score of 48.

The above article ended stating that Muntinlupa ranked 5th in Infrastructure, 7th in Government Efficiency and 19th in Economic Dynamism based on the findings of the 2021 CMCI.

Let me end this piece by asking you readers: If you are a Muntinlupa City resident, what is your reaction to this development? Are you happy with what Muntinlupa City achieved according to the 2021 CMCI results?

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

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Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. 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