Tag: economics

I Love Israel: Potential Partnership Between Israel And Cebu Chamber Of Commerce And Industry Could Be Achieved

I Love Israel: Potential Partnership Between Israel And Cebu Chamber Of Commerce And Industry Could Be Achieved

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In the island province of Cebu, Israeli Ambassador Dana Kursh met with officials of the Cebu Chamber of Commerce and Industry (CCCI) and things are looking bright for a potential partnership between the Jewish State (including its investors and capitalists) and the business chamber, according to news reports by Sun.Star Cebu (click here and here).

In the November 20 report, Ambassador Kursh confirmed that Israel is pursuing long-term and mutually beneficial partnerships, and sees potential in Cebu as it is already a crucial part of the economy of the Philippines. For insight, posted below is an excerpt from the report. Some parts in boldface.

ISRAEL sees “tremendous” potential for deeper economic, tourism and innovation partnerships with Cebu, Israel Ambassador to the Philippines Dana Kursh said during a courtesy visit to the Cebu Chamber of Commerce and Industry (CCCI) on Thursday, Nov. 20, 2025.

Kursh, who arrived in the Philippines three and a half months ago, said she chose Cebu for her first business trip outside Manila because of its strategic role in the economy.

“Cebu is a crucial part of the economy of this amazing nation,” she said. “After an hour and a half of discussions with the chamber, I am even more certain that investing in the paradise of Cebu is a must.”

During the engagement, CCCI Jay Yuvallos presented the chamber’s L.E.A.D Agenda. Kursh’s visit was facilitated by the Honorary Consul of Israel to Cebu, Emily Benedicto-Chioson.

Kursh said Israel is pursuing long-term, mutually beneficial partnerships and sees Cebu as well-positioned for collaboration in artificial intelligence, cybersecurity, medical and tourism-related technologies and sustainable solutions.

With nearly 70 percent of Cebu’s economy driven by services, she said Israeli firms are looking closely at the province’s innovation potential. Kursh said one area where Israel can immediately contribute is talent and teacher training.

“We can bring experts to work with your teachers on artificial intelligence, innovation and future skills. This is something we can easily do together,” she said.

Trade, investment prospects – Kursh said Israel aims to revive bilateral trade and investment flows, which had slowed due to global uncertainties. She said trade reached about US$500 million before declining because of the war and other external factors.

“My goal is to raise that again — not alone, but in partnership with the Philippine business community,” she said.

She noted that even at the height of the conflict, Israel’s Economic Minister Nir Barkat visited Manila in July this year and met with Trade Secretary Cristina Roque to advance discussions on a Philippines–Israel Free Trade Agreement.

“Even with war, we must look to the future. And the future is the partnership between our nations,” she said.

Economic Planning Secretary Arsenio Balisacan earlier said any deal that enhances trade would benefit the Philippines, citing potential gains from Israel’s technology and innovation transfer.

In Sun.Star Cebu’s November 23 report, the CCCI showcased to Israel Cebu’s growing tech and startup ecosystem and potential for global partnerships. For insight, posted below is an excerpt from the report. Some parts in boldface.

THE Cebu Chamber of Commerce and Industry (CCCI) has invited the Israeli Embassy and Israeli tech firms to partner in developing its planned innovation hub, saying Israel’s strength in research and development could accelerate Cebu’s push to build a stronger innovation ecosystem.

Speaking at a dialogue with Israel’s Ambassador Dana Kursh on Thursday, Nov. 20, 2025, CCCI president Jay Yuvallos said the chamber is converting the second floor of its building into an innovation hub aimed at supporting startups, strengthening industry–academe links and positioning Cebu as a center for technology-driven growth.

“Across all industries, Israel is a leader in innovation. That is one of our main thrusts — developing an ecosystem for innovation,” Yuvallos said.

He cited Singapore’s rise as an R&D hub, noting how a single foreign research center eventually “overflowed to the whole community and ecosystem.”

Yuvallos said CCCI is pursuing the project aggressively and is “dreaming big,” stressing that a partnership with Israeli companies or the embassy would provide a “big boost” to Cebu’s innovation agenda.

“This is an invitation for the embassy or Israeli companies to be a partner of this innovation hub. Your comments actually make us more confident that we are on the right track,” he said. “We’d love to welcome whatever you want to bring, and we hope to reciprocate the energy and passion you’ve shown.”

He added that the chamber is ready to support Israel’s initiatives in Cebu and ensure that collaboration between Cebu and Israel “works on the ground.”

CCCI is set to open a P20-million Innovation and Startup Hub to accelerate local entrepreneurship and link Cebu’s innovators with global markets.

For the newcomers reading this, I used to work and live in Cebu long before I even visited Israel. I have witnessed the Cebu business community’s determination to modernize and innovate, and their efforts on attracting foreign investors (including direct foreign investment) have been consistently strong. A partnership with Israel and its business community could be realized in the near future benefitting both Cebu and the Philippines as well. Pray to the Lord in support of Israel-Cebu partnership! 

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 without hesitation. 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!

I encourage you all to pray to the Lord God in support of Israel, to love and bless the Jewish people, and pray for the peace of Jerusalem.

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!

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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

IAEA Director General Says Philippines Is At The Right Moment For Push To Nuclear Energy

IAEA Director General Says Philippines Is At The Right Moment For Push To Nuclear Energy

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Recently the Director General of the International Atomic Energy Agency (IAEA) visited the Philippines, met with President Ferdinand “Bongbong” Marcos, Jr., and revealed to the press that the nation is at the right moment to start the push for nuclear energy, according to a Manila Bulletin news report.

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

The Philippines is at the “right moment” to begin pushing for nuclear energy use amid its aim to achieve energy security and reduce its reliance on fossil fuels like coal, the International Atomic Energy Agency (IAEA) said.

IAEA Director General Rafael Mariano Grossi made this remark during the International High Level Forum on Nuclear Technology (NUTEC) Plastics in Pasay City on Tuesday, Nov. 25.

He underscored that the Philippines is not new to nuclear power.

“Let’s go a little bit back in history. Your country was a pioneer long, long, long before any other countries in this region and in the world were looking at nuclear energy. But the reality is that I like to say that the Philippines is not a newcomer, it’s a revisiting country,” he said in a press conference.

“It’s a country that is reviewing, taking into account its technological capacities, what was being done here in the late 70s, early 80s, and considering that it is perhaps the right moment, as many other countries in the world, to avail itself of a notion of a clean energy that is providing solutions in many parts of the world. Why not here?,” he added.

The Philippines, during the time of former president Ferdinand Marcos Sr., once attempted to build a nuclear power plant in Bataan. While it was completed, it was never operated because of safety concerns, political issues, and corruption allegations.

Grossi said that what the Philippines is doing today with its nuclear energy push is “extremely important,” adding that small- or big-sized nuclear projects are significant and require initial capital investment.

He also noted that banks and international financial institutions in the past have turned their backs on nuclear power plants because of their “bad image.”

“But with passage of time and the safety record of nuclear and the ability to demonstrate by the industry that banks are a conservative, of course, in what they finance, there has been an important change which was initiated earlier this year when I signed with the president of the World Bank a similar agreement,” he shared.

“So, when the World Bank sent this, you know how it happens in the economy in general, when they sign from the leading institutions, the leading financing institutions in the world that there is no problem, basically, there is really no problem, no technical problem, no fundamental problem in financing nuclear,” he added.

The IAEA director pointed out that with China, India, and Pakistan, Asia “and in particular this region, is the most dynamic in terms of nuclear growth in the world.”

Malaysia, Vietnam, Singapore, and Indonesia, he cited, are also starting their own nuclear programs, as well as African countries that need grants and loans for their own nuclear push.

“People talk about the exponential growth of renewable energy, which is a very good thing, I must say. I am very positive about renewable energies,” Grossi asserted, lamenting the lack of subsidies and access to finance in the past.

“So, I believe that we are entering now a new phase. We will see how far it goes, we will see how fast it goes, but it is clearly, in my opinion, a watershed that has happened. Very important. So, it’s a very good day in that sense,” he added.

The IAEA official also met with President Marcos on Tuesday during a courtesy call at Malacañan Palace.

Grossi, who assumed office in 2019, is on his first official visit to the Philippines for the International High-Level Forum on Nuclear Technology for Controlling Plastic Pollution (NUTEC Plastics): Scaling Solutions and Partnerships for Global Impact.

Let me end this post by asking you readers: What is your reaction to this recent development? Are you convinced that the Philippines is ready to move forward by using nuclear power for the nation’s energy requirements?

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

US Mounts Offensive To Smash China’s Fruit Market Dominance In The Philippines

US Mounts Offensive To Smash China’s Fruit Market Dominance In The Philippines

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Were you able to spot and buy fruits imported from America at the local markets here in the Philippines over the past month? The United States will soon introduce new varieties of fruit to the Philippines in what is seen as a serious effort to break China’s dominance, according to a news report by the Manila Bulletin.

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

The United States (US) aims to introduce new fruit varieties to the Philippines to boost its share of the import market, which has long been dominated by China.

In a market brief published last week by the US Department of Agriculture (USDA), American exporters were urged to introduce innovative fruit varieties to the country to sustain the momentum in apple exports.

The USDA expects exports of fresh fruits to fall by at least seven percent to around $13 million this year from $14 million in 2024.

Despite this, the foreign agency said shipments of apples to the country will grow this year, driven by the popularity of the Ambrosia, Cosmic Crisp, and SugarBee varieties. These varieties were introduced to the Philippine market last year and have since gained traction among consumers.

“Consumers are eager to try new-to-market fruit varieties and share their experiences on social media,” the report read.

The USDA noted that only bananas and papayas are harvested year-round in the country, creating an opportunity for American exporters to fill market gaps year-round.

“The United States is widely recognized for consistently supplying premium-quality fruit, and US exporters are encouraged to leverage this reputation,” it said.

The USDA, citing Philippine government data, expects fresh fruit imports this year to grow by 25 percent to around $400 million, up from $321 million in 2024.

Last year, the US only accounted for a three percent share in the import market. Its main shipments were apples, cherries, grapes, oranges, strawberries, cranberries, blueberries, and peaches.

In contrast, China seized 72 percent of the market last year, with its main exports being apples, grapes, mandarins, oranges, and other citrus hybrids.

Also outperforming the US were South Africa and Australia with market shares of nine percent and eight percent, respectively.

With the exception of South Africa, the USDA noted that the dominance of regional suppliers is a result of better prices, largely driven by lower shipping costs and zero-tariff advantages under free trade agreements with the Association of Southeast Asian Nations (ASEAN).

“The Philippines does not have a preferential trade agreement with the United States or South Africa. As a result, MFN (most-favored-nation) tariff rates apply to fresh fruit imports from both countries,” the report read.

Let me end this post by asking you readers: What is your reaction to this recent development? Did you buy any fruits in the local market that were imported from the United States of America? Does the name or image of US President Donald Trump influence your decisions on buying American fruits locally? Apart from prices, how would you compare American fruits with the ones from China in terms of taste, texture and satisfaction?

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

Preventive Maintenance And Other Improvements On SCTEX

Preventive Maintenance And Other Improvements On SCTEX

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The Subic–Clark–Tarlac Expressway (SCTEX) undergoing improvements by means of maintenance works and asset enhancements by the NLEX Corporation, according to a Malaya Business Insight news report. This means better travel and improved safety for the many motorists who use the SCTEX.

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

NLEX Corp., the concessionaire of the 94-kilometer Subic–Clark–Tarlac Expressway (SCTEX), recently rolled out a series of asset enhancement and preventive maintenance works to reinforce road safety, and help in providing an improved driving experience for motorists.

“We’re focused on delivering improvements that our motorists can truly feel on the road,” NLEX president and general manager Luis Reñon declared in a statement on November 20.

Approximately 3,700 square meters were reportedly completed from Dinalupihan to Tarlac, focusing on uneven surfaces and minimizing potential driving hazards.

The company also installed 22 additional sets of rumble strips at key locations along SCTEX. These strips produce mild vibrations and audible cuesfor drivers, promoting more attentive and safer driving behavior. A total of 26 rumble strips are now laid out across the expressway.

Median, or center guardrails, from Dolores to Luisita have been being raised by 30cm for the asphalt overlay. This adjustment maintains safety standards, and helps preserve roadway integrity.

Let me end this post by asking you readers: What is your reaction to this recent development? When was the last time you drove along the SCTEX?

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

Investors’ Interest In Nuclear Energy In The Philippines Remains Strong

Investors’ Interest In Nuclear Energy In The Philippines Remains Strong

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The future of a nuclear-powered Philippines remains achievable as the Department of Energy (DOE) confirmed that investors are strongly interested in nuclear energy in the country, according to a BusinessWorld news report.

For the newcomers reading this, more Filipinos expressed through a survey their preference for nuclear power for electricity, PhilATOM was signed into law by President Ferdinand “Bongbong” Marcos, and Meralco is preparing its bid for a nuclear power license.

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

INVESTORS are still keen on developing nuclear energy projects in the Philippines, the Department of Energy (DoE) said, as the government prepares to start accepting applications next year.

Energy Secretary Sharon S. Garin said there is significant investor interest in nuclear energy projects in the Philippines, as some companies have already presented their ideas.

Speaking to reporters on Friday, Ms. Garin said companies want to go into nuclear energy as they see it as a possible solution to serve baseload capacity and to cater to the increasing demand from data centers.

“They’re very interested and are waiting for us to finalize the site selection and site evaluation,” she said in mixed Filipino and English.

The DoE plans to begin accepting applications for nuclear energy projects by 2026 as part of efforts to integrate nuclear power into the country’s energy mix by 2032.

Under the Philippine Energy Plan, the country aims to integrate nuclear energy into the power mix with at least 1,200 megawatts (MW) of capacity by 2032, increasing it to 2,400 MW by 2045 and to 4,800 MW by 2050.

“I understand, the companies are waiting for us to guide them on which are the areas that are more feasible. But some companies have already approached DoE to enter into a memorandum of agreement, non-exclusive, to explore the possible nuclear power plant development,” Ms. Garin said.

She said some energy firms have expressed interest in nuclear energy development such as power distributor Manila Electric Co. (Meralco) and power generation firm Aboitiz Power Corp.

In a separate interview, Meralco Executive Vice-President Chief Operating Officer Ronnie L. Aperocho said that the company waiting to see the ongoing development of Romania’s first small modular reactor before proceeding on its own.

“There is a requirement from PhilATOM (Philippine Atomic Energy Regulatory Authority) that the first-of-its-kind technology must run of at least about two years without any incidents before we can adopt it here in the Philippines. So, we have to go through that two-year requirement,” he said in mixed Filipino and English.

In September, President Ferdinand R. Marcos, Jr. signed Republic Act No. 12305, the Philippine National Nuclear Energy Safety Act, which created PhilATOM.

PhilATOM is an independent quasi-judicial body tasked with overseeing all nuclear and radiation activities in the country. Under the law, PhilATOM will hold sole and exclusive jurisdiction over the regulation of nuclear energy and radiation sources in the Philippines, ensuring their peaceful, safe and secure use.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think nuclear power in the Philippines will become a reality over the next several years?

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

President Marcos Calls On HSBC To Help investors See Economic Opportunities In The Philippines

President Marcos Calls On HSBC To Help investors See Economic Opportunities In The Philippines

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As the signs are clear that economic growth of the Philippines has weakened, President Marcos called on financial giant HSBC to help foreign investors realize the economic opportunities in the country, according to a Philippine News Agency (PNA) news article.

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

President Ferdinand R. Marcos Jr. has called on international bank HSBC to help more foreign investors see the huge economic opportunities the Philippines has to offer.

“Together let’s build a more progressive Philippine economy, where people can access reliable financial services, obtain meaningful opportunities, and live more dignified, comfortable lives,” he said in a speech at HSBC’s 150th year anniversary gala in Taguig City on Tuesday night.

“Let us continue creating an environment where investors, stakeholders, and most importantly, our citizens see the Philippines as a nation of promise,” he added.

He acknowledged the foreign bank’s support for government initiatives, including its participation in recent bond issuances such as the SEC-registered USD3.3 billion-equivalent dual currency global bond that aims to ensure the continuation of vital government programs.

“These programs, whether on infrastructure, education, or social protection, directly benefit our people, especially those who rely on stable public services,” he said.

He also cited HSBC’s strong collaboration with relevant economic agencies and its contribution to increasing the country’s exposure to foreign investors.

From its first branch in Binondo in 1875, Marcos said HSBC’s growing presence in the Philippines serves as a vote of confidence in the future of the Philippines.

On the part of the government, he said the administration continues to strengthen its financial systems to protect depositors.

The Bangko Sentral ng Pilipinas, he added, is refining capital, liquidity, and governance standards to ensure that banks are resilient.

The country, he said, also adopts reforms such as the Basel III New Standardized Approach, the National Risk Assessment, and clearer guidelines for the disqualification of erring officers.

“Today, as HSBC adapts to a rapidly changing economy, we are confident that the bank will remain true to its commitment to making its services more inclusive, more secure, and accessible to Filipinos,” the chief executive said.

HSBC, the leading international bank in the country, serves 41 million clients across 57 markets, with over USD3 trillion in assets.

In his remarks, HSBC Interim Group Chairman Brendan Nelson said the firm has “strong” confidence in the Philippines and is ready to work with the country to sustain its growth momentum.

He said HSBC is “determined to continue growing” in the Philippines as he noted its strategic position in Southeast Asia, one of the regions, he noted, is set to benefit most from the “configured globalized world.”

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think economic growth of the Philippines will get stronger in 2026? Do you think foreign investors will take a new look at the Philippines for economic opportunities soon?

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

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

Philippines At Risk Of Falling Behind Southeast Asian Neighbors Economically

Philippines At Risk Of Falling Behind Southeast Asian Neighbors Economically

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The 3rd quarter growth of only 4% the Philippines achieved has been on people’s minds a lot lately. As such, the country is at risk of falling behind its neighbors in Southeast Asia in terms of economic growth and gross domestic product (GDP) per capita, according to a BusinessWorld news report.  

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

The Philippine economy is at risk of further falling behind its Southeast Asian neighbors, an economist said, noting it may take two years to catch up with Vietnam and up to 70 years to catch up with Singapore.

“(T)he Philippines could find itself lagging behind if alleged public spending issues continue to divert attention and resources away from the structural reforms needed to accelerate economic development,” Bank of the Philippine Islands (BPI) Lead Economist Emilio S. Neri, Jr. said in a commentary on Wednesday.

In the third quarter, Philippine gross domestic product (GDP) grew by 4%, its slowest pace in over four years amid slower household and public infrastructure spending as the flood control scandal dampened investor and con-sumer sentiment.

In the nine months to September, GDP growth averaged 5%, putting the government’s 5.5%-6.5% full-year growth target further out of reach.

“The Philippine economy is growing, but not enough to close the economic gap with other countries,” Mr. Neri said.

He noted the Philippine GDP per capita is lower compared with other economies in the region. Citing International Monetary Fund (IMF) data, he said the Philippines’ GDP per capita stood at $4,078 in 2024.

“At the current growth rate, it would take the Philippines two years to catch up with the GDP per capita of Vietnam, 4 years with Indonesia, 14 years with Thailand, 26 years with Malaysia, and 70 years with Singapore, assuming their incomes remain stagnant. In reality, their GDP per capita continues to grow, which means the gap could persist or even widen,” Mr. Neri said.

The Philippines lagged behind Singapore which had a GDP per capita of $90,674 in 2024, followed by South Korea ($36,128), Japan ($32,498), China ($13,312), Malaysia ($12,540), Thailand ($7,491), Indonesia ($4,958) and Vietnam ($4,535).

“Before the pandemic, the Philippines had a higher GDP per capita than Vietnam, but has since been overtaken. At current trends, it would take the Philippines two years to catch up with Vietnam, but that gap could increase to 13 years by 2044,” Mr. Neri said.

The BPI economist said the Philippines needs structural reforms to accelerate growth in order to close the widening gap with its neighbors.

“The current economic model of the country is not enough, as shown by the country’s inability to grow faster than 6% in recent years,” he said.

Mr. Neri said the economy has been “too reliant” on consumer spending, driven by overseas Filipino worker (OFW) remittances and the business process outsourcing industry.

“There is a need to diversify its sources of growth. The economy must improve in terms of production, especially in agriculture and manufacturing, as they will allow the economy to be more self-sufficient and to reach foreign markets. These industries have been critical to Vietnam’s success and could play a similar role for the Philippines,” he said.

However, Mr. Neri said implementing these reforms will be hard if the government lacks focus.

“Public spending issues divert fiscal resources and policymaking focus away from long-term development priorities. Efforts to strengthen safeguards against potential issues in government spending are essential, enabling the country to work on structural reforms that could improve the economy,” he said.

Let me end this post by asking you readers: What is your reaction to this recent development? What do you think should the government do to accelerate economic growth?

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

Business Groups Reaffirm Commitment To National Economy

Business Groups Reaffirm Commitment To National Economy

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With the weakening economic growth and growing socio-economic uncertainty affecting the entire Philippines, prominent business groups reaffirmed their commitment to invest and create jobs in the country, according to a Manila Bulletin news report.

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

Six prominent groups representing the business sector reaffirmed their commitment to invest and create jobs in the Philippines amid weakening sentiment in the economy, which is fueled by what they described as a “political turmoil” stemming from the ongoing corruption scandal.

In a rare joint statement sent to the media moments after a pivotal reshuffle in the administration’s economic team, the business groups emphasized that they remain committed to supporting the Philippine economy.

“While the current political turmoil raises understandable concerns, we stress that the country’s long-term fundamentals remain strong; anchored by a well-regulated financial system, a stable banking sector, and companies that continue to invest in and believe in the Philippines,” the groups said on Monday, Nov. 17.

The statement was signed by Makati Business Club (MBC), Management Association of the Philippines (MAP), Philippine Chamber of Commerce and Industry (PCCI), Financial Executives Institute of the Philippines (FINEX), Philippine Finance Association, and Institute of Corporate Directors (ICD).

In a statement that essentially serves as a pitch to potential investors, the six business groups said that the institutions safeguarding local markets “continue to operate independently and rigorously.”

The groups cited the Bangko Sentral ng Pilipinas (BSP) and the Securities and Exchange Commission (SEC) as among the most reliable government partners when it comes to businesses.

Both the BSP and the SEC uphold regulatory frameworks aligned with global standards, ultimately ensuring market integrity, prudent risk management, and strong investor protection, they said.

“The Philippines continues to meet international benchmarks on capital adequacy, disclosure requirements, and corporate governance,” the groups said.

The business groups also took note of the corporate earnings of publicly listed companies, which reflect the economy’s underlying strength.

They noted that even during periods of global instability, such as the Covid-19 pandemic, companies continued to demonstrate resilience with growing revenues and stable margins.

Further, the groups said that investment sentiment in the country remains robust, with gross fixed capital formation ranging between 22 percent and 27 percent of gross domestic product (GDP) over the last 10 years.

“This ongoing level of capital spending, mainly driven by business growth, clearly indicates that Philippine companies continue to build capacity, expand operations, and invest in the country’s long-term prospects,” the statement read.

While upholding optimism, the six business groups stressed that investor confidence is influenced not only by economic fundamentals but also by governance.

Let me end this post by asking you readers: What is your reaction to this recent development? Does the joint statement of the prominent business group boost your confidence about the future of the country? Do you think the Philippine economy will be able to bounce back strongly next year? Does the continuing media coverage of the flood control corruption scandals and investigations continue to bother you?

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

BSP Warns Public About Text Hijacking

BSP Warns Public About Text Hijacking

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If you received a text message containing links, you better avoid clicking on those links as scammers have gotten more sophisticated with technology to steal money, access to personal accounts and personal data from victims through mobile communication. That being said, the Bangko Sentral ng Pilipinas (BSP) has warned the public about text hijacking, according to a news article by the Philippine News Agency (PNA).

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

The Bangko Sentral ng Pilipinas (BSP) warned the public on Friday that only scammers would send links through the short messaging system (SMS) or text message.

BSP, in a press release, said legitimate banks, e-money issuers, and other financial entities will not send links, even though the messages look like it came from these regulated institutions.

This scheme is called text hijacking that “involves scammers inserting fake messages into legitimate text threads to make them look authentic.”

“These messages often contain malicious links designed to steal access to victims’ financial accounts and are usually accompanied by urgent prompts such as notifications of expiring rewards, unauthorized transactions, or account verification requests to pressure recipients into clicking the link,” it said.

Reports about fraudulent text messages continue to rise, the BSP noted.

This, even as the central bank and other financial institutions have increased their education campaign aimed to inform the public about this scam.

The public is advised to avoid clicking links in text messages or e-mails even if they appear to come from banks or e-money issuers; enable multi-factor authentication to secure accounts and never share personal or financial details with anyone.

If the account has been compromised, contact the bank or e-money issuer through official channels: https://bit.ly/BSPScamAlert

Let me end this post by asking you readers: What is your reaction to this recent development? Where you ever a victim of text hijacking? What do you think government and financial institutions should do to find the scammers and have them all arrested?

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

Approved Foreign Investment Pledges Fall Down 48.7% In 3rd Quarter

Approved Foreign Investment Pledges Fall Down 48.7% In 3rd Quarter

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The flood control corruption scandals connected with the weaker investor sentiment resulted in a 48.7% fall in foreign investment pledges during the 3rd quarter this year, according a news report by BusinessWorld. It should be noted that Philippines GDP growth for the same quarter slowed down a lot.

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

APPROVED foreign investment pledges plunged nearly 50% in the third quarter as investor sentiment soured due to the corruption scandal involving government infrastructure projects, the local statistics agency said.

Preliminary data from the Philippine Statistics Authority (PSA) showed the value of foreign commitments approved by investment promotion agencies (IPAs) fell by 48.7% to P73.68 billion in the July-to-September period from P143.74 billion in same period last year.

However, this was the highest amount of investment pledges since the third quarter of 2024.

Ser Percival K. Peña-Reyes, director of the Ateneo Center for Economic Research and Development, said the decline in approved investments can be attributed to the weaker investor sentiment.

“Tingin ko. Wala pang nakukulong eh (I think so. No one has been imprisoned yet),” he said in a Viber message, when asked if this sharp slump in approved investments will likely persist in the fourth quarter until 2026.

Quarter on quarter, the approved pledges rose by 9.34% from P67.38 billion in the second quarter.

Singapore was the top source of foreign investment pledges in the third quarter with P20.26 billion (27.5%), followed by Japan with P13.59 billion (18.4%) and Cayman Islands with P13.14 billion (17.8%).

Investment commitments from South Korea stood at P5.57 billion (7.6%), while those from China stood at P4.51 billion (6.1%)

PSA data showed the investment pledges were approved by seven IPAs — the Authority of the Freeport Area of Bataan, Bases Conversion and Development Authority (BCDA), Board of Investments (BoI), Clark Development Corp., Clark International Airport Corp., Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority.

Let me end this post by asking you readers: What is your reaction to this recent development? What do you think the government must do to convince foreign investors to become more confident about investing in the Philippines? Do you think the investigation and pace of justice related to the flood control corruption scandal is moving too slowly?

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