economy – Page 2 – Author Carlo Carrasco

Japan To Significantly Raise Foreigner Entry Visa Fees Starting July

June 21, 2026June 20, 2026carlocarrasco

As Japan continues to attract many millions of visitors from around the world, the government proceeded to raise the single-entry visa fees and multiple-entry visa fees for foreigners significantly and they will take effect on July 1, 2026, according to a news report by Kyodo News.

Keep in mind that this is actually the first time Japan increased the rate since 1978 and in today’s economy, one American Dollar is worth over 160 Yen. The last time I visited Japan, the exchange rate was 106 Yen to US$1.

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

The Japanese government on Friday decided to raise single-entry visa fees for foreigners fivefold to 15,000 yen ($90) from 3,000 yen beginning in July, marking the first increase since 1978 amid inflation and the yen’s depreciation.

Issuance fees for multiple-entry visas, which allow visitors to enter Japan multiple times over a set period, will be hiked from 6,000 yen to 30,000 yen.

“We do not expect the move to have an immediate impact on inbound tourism,” Foreign Minister Toshimitsu Motegi said during a press conference.

Let me end this piece by asking you readers: What is your reaction to this development? Were you planning to visit Japan after July 1 this year? Do the pending hikes of visa entry fees for foreigners discourage you from visiting Japan? Have you started researching the process of applying for a Japan visa lately?

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

IAEA Pledges Technical Guidance For The Philippines

June 21, 2026June 16, 2026carlocarrasco

The effort of the Philippines to lay the foundation for the intended integration of nuclear power into the national grid got a boost from the International Atomic Energy Agency (IAEA) which pledged technical guidance to the government, according to a Manila Bulletin news report.

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

As the Philippines actively lays the foundation for the integration of nuclear power into its national grid, the International Atomic Energy Agency (IAEA) has pledged technical guidance to support the government once it opens dedicated green energy auctions (GEAs) for the technology.

IAEA Director General Rafael Mariano Grossi told Manila Bulletin last Monday, June 8, that the Vienna-headquartered agency is ready to assist in the Philippines’ nuclear auction process, provided that the legal and regulatory groundwork for the country’s nuclear framework is clearly established and moving forward.

Citing his visit to Manila in November last year, Grossi noted that advisory support on the auction framework was among the topics discussed during his meeting with President Ferdinand R. Marcos Jr. regarding bilateral nuclear cooperation.

“We have also discussed the possibility of providing advice in terms of the bidding process. So there’s a range of things where the IAEA will be able to contribute,” the IAEA chief said.

The Department of Energy (DOE), through its Nuclear Energy Program Inter-Agency Committee (NEP-IAC), said last year that it is studying an auction mechanism specific to nuclear energy, which would be treated similarly to the government’s existing GEA Program (GEAP). Patrick Aquino, technical secretariat head of NEP-IAC, previously said that overcoming legal challenges would allow the government to begin consultations on a nuclear auction.

Last November, the IAEA signed a memorandum of understanding (MOU) with the Manila-based multilateral lender Asian Development Bank (ADB) to establish a framework supporting nuclear energy development in the Philippines, including the potential deployment of small modular reactors (SMRs).

The agreement includes knowledge-sharing and technical capacity-building initiatives, energy planning, nuclear fuel cycle management, radioactive waste management, and assistance throughout the life cycle of nuclear facilities.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the government of the Philippines will be able to establish the foundation of integrating nuclear power into the national grid before the term of President Marcos ends in mid-2028? Do you think the IAEA’s pledge of support will accelerate the nuclear-related developments in the country?

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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Weak Infrastructure Safeguards In The Philippines Exposed

June 20, 2026June 15, 2026carlocarrasco

It has been several months since the flood control corruption scandal rocked the Philippines. As a result, the scandal exposed weak infrastructure safeguards, according to a news report by the Manila Bulletin.

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

The Organization for Economic Cooperation and Development (OECD) has flagged corruption as a major risk to Philippine infrastructure delivery, warning that the multibillion-peso flood-control corruption scandal show that current accountability safeguards remain insufficient to prevent the misuse of public funds.

In its report titled “Accelerating Sustainable Infrastructure Investments: Assessing Policies for Planning, Delivery and Financing in Central and Southeast Asia” published on Friday, June 12, the Paris-based OECD said procurement weaknesses continue to undermine infrastructure development in the Philippines despite existing legal frameworks and reform initiatives.

“Corruption remains a major risk in infrastructure delivery” in the country, OECD said, citing persistent procurement vulnerabilities despite measures such as the Integrity Initiative and online blacklisting.

OECD said anti-corruption clauses should be embedded in public procurement and public-private partnership (PPP) contracts, while transparency mechanisms should be expanded to strengthen oversight over infrastructure projects.

It said recent high-profile scandals involving infrastructure rollout, particularly flood-control projects, showed that existing accountability mechanisms were not enough to prevent the improper use of public funds.

OECD devoted a section of its Philippines chapter to flood-control governance failures, citing reports in a University of the Philippines Center for Integrative and Development Studies (UP CIDS) policy brief on irregularities affecting projects worth more than ₱545 billion, or about $9.5 billion, since 2022.

According to OECD, UP CIDS reported that a significant share of contracts had been awarded to a small number of firms, while some projects were found to be non-existent or poorly executed.

The report also cited estimates that corruption in flood-control spending may have cost the government ₱42 billion to ₱118 billion, or $700 million to $2 billion, a year.

OECD said the case showed how corruption and mismanagement could weaken climate resilience while wasting scarce public funds in a country highly exposed to climate-related flooding.

To address these risks, OECD said the Philippines should strengthen procurement transparency, independent audits, competitive bidding, and project-level monitoring.

It also recommended publishing contract data and linking budget releases to verified project completion to help protect public resources as well as ensure that infrastructure investments deliver actual resilience and development outcomes.

OECD said public procurement, PPPs, and state-owned enterprises (SOEs), or locally known as government-owned and/or controlled -corporations (GOCCs), should “lead by example” in promoting responsible business conduct (RBC) in infrastructure.

While the Government Procurement Reform Act (GPRA) already includes RBC-related provisions, OECD said bidding documents still lack references to climate resilience and broader RBC risks.

The report also noted that the PPP Code mandates environmental and social safeguards, but gaps remain in standardized procedures as well as the capacity of local government units (LGUs) to implement them.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think it will still be a few years before guilty ones behind the flood control corruption scandal will be brought to justice? Do you think infrastructure development will continue to be hampered by corruption over the next ten 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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Vietnam’s New International Airport Powers Up For December 2026 Launch

June 18, 2026June 12, 2026carlocarrasco

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

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

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

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

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

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

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

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

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

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

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

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

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World Bank Sees Below-Target Philippine Economic Growth In 2028

June 18, 2026June 15, 2026carlocarrasco

In its latest analysis of the economy of the Philippines, the World Bank (WB) predicts a below-target economic growth will happen in 2028, according to a news report by BusinessWorld.

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

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

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

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

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

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

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

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

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

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

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

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

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

June 17, 2026June 15, 2026carlocarrasco

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

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

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

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

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

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

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

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

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

June 16, 2026June 11, 2026carlocarrasco

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

June 15, 2026June 9, 2026carlocarrasco

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

June 14, 2026June 8, 2026carlocarrasco

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

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

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

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

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

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

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

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

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

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

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

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

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AHVA Issues Security Advisory To Alabang Hills Village Homeowners Over Attempted Scam By Gang

June 13, 2026June 9, 2026carlocarrasco

Has anyone in your local community received a phone call from a scammer? Recently the Alabang Hills Village Association (AHVA) posted a security advisory and warning to its homeowners as one particular household received a call from a gang that intended to execute a scam.

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

Dear AHV Neighbors,

We had another attempted scam call from the “Dugo-Dugo” gang targeting a house in the village. Fortunately, the household staff was aware of this scam and did not believe the caller. Instead, they contacted the homeowner directly to verify the information before taking any action.

Please be reminded that these scams are still happening. We strongly encourage all homeowners to inform and regularly remind their household staff not to trust calls requesting money, valuables, or urgent action on behalf of a family member or homeowner.

If they receive any suspicious call, they should always contact the homeowner directly to confirm the information before doing anything.

Let me end this post by asking you readers: What is your reaction to this recent development? Has anyone in your local community been a victim of the Dugo-Dugo Gang? Are telephones in your household capable of tracing the phone numbers of all callers? If you have house helpers, have you oriented them to beware of scam callers?

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

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

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