economy – Page 23 – Author Carlo Carrasco

Commercenter announces March 15, 2025 closure of its cinemas, promises something new coming

March 7, 2025March 7, 2025carlocarrasco

Commercenter, the nice sprawling shopping mall located in Filinvest City in Alabang, Muntinlupa, recently announced via social media that its 4-screen cinemas will be closing on March 15, 2025 and still they promised something new is coming.

To put things in perspective, posted below is the entire social media post announcement by Commercenter. Some parts in boldface…

To our amazing moviegoers, thank you for every laugh, tear, and unforgettable moment we’ve shared at Commercenter Cinema over the years. ❤️🎬 Your presence and memories will always be part of our story, and we’re beyond grateful for the journey.

While our curtains will officially close on March 15, this isn’t the end. Something exciting is on the way to Commercenter and we can’t wait to share it with you. Stay tuned! 😉✨

For transparency, posted below is the screenshot of one of the images that came with the social media post of Commercenter.

For the newcomers reading this, the cinemas of Commercenter opened in the late part of 2014 and its cinemas each had nice and comfortable seats with a good sound system and screen. Each cinema has over a hundred seats to accommodate moviegoers.

I myself saw lots of movies at Commercenter from 2014 to 2023 (note: I have not seen movies inside any cinema for 2024). While I cannot recall all the films I saw inside the cinemas of the sprawling mall, I saw the following there: Sound of Freedom (read my movie review by clicking here), Wonder Woman (my review here), The Hobbit: The Battle of the Five Armies, Write About Love (my review here), Rogue One: A Star Wars Story, Deadpool, Deadpool 2, Star Wars: Episode VII – The Force Awakens, X-Men: Apocalypse, Avengers: Age of Ultron, Avengers: Infinity War, Avengers: Endgame, Batman v. Superman: Dawn of Justice, Aquaman, Terminator: Dark Fate, The Batman, Jurassic World, and Godzilla: King of the Monsters (my review here) to name some.

*The last movie I saw at Commercenter was Sound of Freedom.*

In my experience, watching movies inside Commercenter was fun and comfortable. The mall is a short drive away from home and there are nice restaurants and stores inside. After watching a movie, I could enjoy a meal at Sigekiya Ramen or at The Black Pig or at Akrotiri, have coffee at The Coffee Syndicate or at The Bingsu. Or buy a snack at ASSI Fresh Plaza.

As such, it is really saddening to learn that Commercenter’s cinemas will be closing down soon. I can only speculate that not enough moviegoers in this post-pandemic age could support the cinemas of the mall and not enough private groups booked the cinemas for their events or gatherings. It seems to me that streaming – which became the new standard of watching movies since the COVID-19 pandemic – is a factor as well. Lastly, Commercenter charged P400 per ticket for foreign movies which is quite expensive for local moviegoers.

By adding Commercenter’s closing cinemas to the already closed old original cinemas of nearby Festival Mall, that would combine to a total of fourteen closed screens/cinemas. Festival Mall still has its 4-screen modern cinemas while Alabang Town Center’s cinemas are still operating. Without Commercenter as a movie venue, people living within Filinvest City and in the nearby communities will have to visit ATC and Festival Mall for the movie theater experience within Alabang.

*The cinemas area at the 2nd floor of Commercenter.*

Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City who frequently saw movies at Commercenter, how do you feel about the March 15 closure of the cinemas? If you could still remember, how many movies were able to watch at Commercenter in all? What was the most memorable cinematic moment you had inside Commercenter’s cinemas? What could be the new thing Commercenter promised?

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

UBS Investment Bank Global Research economist sees Philippine economy growing by 5.9% this year

March 5, 2025February 26, 2025carlocarrasco

A senior economist of the UBS Investment Bank Global Research stated that the economy of the Philippines will grow better this year by 5.9%, according to a Philippine News Agency (PNA) news article. In 2024, the economy grew by 5.6%.

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

Philippine economic growth is expected to accelerate this year on the back of higher investments and consumption, an economist of UBS Investment Bank Global Research said.

In a virtual briefing on Wednesday, UBS Investment Bank Global Research Senior ASEAN and Asia Economist Grace Lim said the Philippine economy is projected to grow by 5.9 percent this year from 5.6 percent in 2024.

“We see an improving growth outlook for the Philippines,” Lim said. “The underlying positive growth delta is driven by domestic demand as both investment and consumption accelerate in 2025.“

She said private investments would recover gradually as financial conditions become less restrictive and consumer sentiment gradually picks up. Solid labor income growth and the easing of food inflation will also help boost consumption growth.

“Consumption, as well, is likely to be positive amidst the improving fundamentals and the resilient labor market, which, I should add, is one of the most significant support for Philippines demand,” she said.

Lim said government spending and the continued growth in services exports would also support economic growth.

“What is also often underappreciated is the bright spot of services exports, especially in the BPO sector,” she said.

Lim said she expects the country’s BPO sector to remain resilient this year.

Higher tariffs – Asked about the impact of tariff trade escalation on the Philippine economy, Lim said the Philippines is in a “rather defensive market in the event of potential trade tariff escalation.”

“That’s because the Philippines is primarily domestic-oriented with investment as a percentage of GDP 23 percent, consumption over 70 percent. So not very trade-exposed,” she said.

She pointed out that in the case of trade tariff escalation, the Philippine peso could also be a relative outperformer in the region.

“That said, we do think that if tariffs are universal, then obviously there could be weaker prospects for currencies in general, but even in that scenario, it would not be a very big depreciation,” she said.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Philippine economy has what it takes to grow by at least 5.9% this year? Do you think that the national economy can withstand the effects of new tariffs?

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

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Muntinlupa City declared as smart, sustainable and strong

March 4, 2025March 2, 2025carlocarrasco

This past weekend, the 30^th anniversary of the cityhood of Muntinlupa was celebrated with special activities. On the afternoon of March 1, Mayor Ruffy Biazon delivered his State of the City Address declaring Muntinlupa as a smart, sustainable and strong city, according to the Manila Bulletin news report.

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

Mayor Ruffy Biazon said Muntinlupa has become a smart, sustainable and strong city with the use of technology and innovation, and solutions that maximize resources.

“Today we celebrate the 30th year since our home town became a city. Today we can say that Muntinlupa has transformed into a city that is Smart, Sustainable, and Strong,” said Biazon in his State of the City Address during the 30th Muntinlupa cityhood anniversary celebration on March 1.

He said, “Smart because we are utilizing technology and innovation to make the government more efficient in the use of resources, faster in the delivery of services, more streamlined in its processes and make decisions based on data gathered through its systems.”

The mayor said Muntinlupa is “sustainable because we adopt solutions that help us maximize our use of resources but still remain mindful of the needs of future generations. Strong because we remain resilient in the face of calamities, crisis, and challenges that put to the test our determination to survive and succeed.”

Muntinlupa became a highly-urbanized city with the signing of Republic Act 7926 on March 1, 1995.

In his speech, he mentioned what the city government has done since he assumed office in 2022 and the plans that will be implemented under his 7K Agenda.

“While we have come a long way from what was described as a sleepy town to a bustling, modern, highly urbanized city that it is now, the character of its people remains rooted in the traditional values of caring for the community, goodwill towards each other, and earning your keep through hard work,” he said.

He added, “Coming at the heels of the successes of those who laid the city’s foundation, we ask ourselves: what else can we do to achieve greater accomplishments? We ask this not to just simply outdo those we followed, but more to push ourselves to break new ground, find new paths and create through innovation.”

Kaunlaran (Development) – Under his “Kaunlaran” agenda, the mayor envisions Muntinlupa to be a “Model Smart Urban Village” of the region.

“We crafted our vision to visualize a future that we want for our people. But as I quote during my previous addresses – ‘The best way to predict the future is to create it,’” he said.

This year, he said, the city government is updating the Comprehensive Land and Water Use Plan and Zoning Ordinance, which “will provide a framework for the City’s physical development, and the smart and efficient allocation of land and water resources for various uses.”

The city government will implement key e-governance projects, including the Citizens’ Database and Muntizen ID, “a city-wide database and unified ID Card System to record and monitor the city’s population and migration information, as well as the provision and availment of City Government’s social, educational and medical benefits to our citizens.”

The city will also have the Centralized Geographic Information System (CGIS), “a software to map and digitalize geographic data of the City.”

Improving the MUNCONNECT, Muntinlupa’s public wi-fi system located in schools, business establishments and government facilities, is also being planned.

Biazon said the city government’s efforts were recognized through various awards including the Seal of Good Local Governance for the third consecutive year and ranking fourth among all highly-urbanized cities in the country in the Cities and Municipalities Competitiveness Index.

He thanked the business sector as the city government surpassed its business tax collection target in 2024, reaching P2.4 billion.

“Through our programs on business permit registrations complimented by ‘Ease of Doing Business’ strategies, we made sure that Muntinlupa is a City that remains Business-Friendly and attractive for new and thriving investment opportunities,” he said.

Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City, are you delighted with what the City Government achieved and how it rendered public service? Do you feel confident that Muntinlupa will keep on progressing and become even more competitive with other cities of the nation over the next ten to fifteen 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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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

More investors expected in relation to newly signed CREATE MORE IRR

February 28, 2025February 26, 2025carlocarrasco

In connection with the recent signing of the implementing rules and regulations (IRR) of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act, a director of the Philippine Economic Zone Authority (PEZA) expects more investors to come in, 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…

Philippine Economic Zone Authority (PEZA) Director General Tereso Panga is expecting more investors to put up their businesses in economic zones across the country following the signing of the implementing rules and regulations (IRR) of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act.

Panga said the IRR provides clarity for the smooth implementation of the law.

“It is a product of conjoined efforts that will surely attract more interest in the Philippines and paves the way for future investment growth,” Panga said in a statement Wednesday.

On Feb. 17, Finance Secretary Ralph Recto and Trade Secretary Ma. Cristina Roque led the signing of the CREATE MORE’s IRR.

The IRR supports PEZA’s mandate of driving investment growth into the country, promote sustainable development in the countryside, and create more jobs.

“The CREATE MORE Act refines the investment landscape of the Philippines to be at parity with other countries,” he said.

“With these new policies in place, coupled with the positive attributes already presented by our country and the various advantages like a communications-ready skilled workforce, a conducive business environment and a whole-of-government approach, it is without doubt that new investors will come in and old investors will choose to stay for the long haul,” he added.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the newly signed IRR of CREATE MORE will result in more investors to come into the Philippines and put up businesses in economic zones?

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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Building owners in Parañaque City who allow illegal POGO operations will be held accountable

February 25, 2025February 24, 2025carlocarrasco

In relation with the big raid on an office build in Parañaque City that resulted in the apprehension of hundreds of suspects, building owners in the city will have avoid Philippine Offshore Gaming Operators (POGOs) as the Presidential Anti-Organized Crime Commission (PAOCC) announced it is eyeing the filing of criminal cases against the owner of the building that was the site of the said raid, according to a news article by the Philippine News Agency (PNA).

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

The Presidential Anti-Organized Crime Commission (PAOCC) is eyeing the filing of criminal cases against the owner of the building in Parañaque City that was recently raided after the reported operation of an illegal Philippine offshore gaming operator (POGO).

At the regular Saturday News Forum in Quezon City, PAOCC director and spokesperson Winston Casio said the PAOCC would also seek the forfeiture of the whole building allegedly used by the Dan Ying Gaming Corp. where POGO workers have been operating for two years.

“Obviously, we will move for the criminal and civil forfeiture of the whole building sapagkat ‘yung operation noong POGO ay nasa (because the POGO operations were on the) fourth, fifth, sixth, and seventh (floors),” Casio said, adding that a security agency also mans the building.

“So, may kakaharaping malaking problema ang may-ari ng building sa kaniyang pagpayag na magamit ang kaniyang building bilang POGO hub (So, the building owner will face a big problem in allowing his building to be used as a POGO hub).”

He said the building owner may also face a human trafficking case for “knowingly renting out his facility to POGO operations for the past several months.”

The owner, he said, apparently ignored the “red flags,” including the questionable PHP20 million monthly lease payment.

“Nakita naman nila ang red flag. Maraming foreigners coming in and out doon sa building. Nakita naman siguro nila na maraming computers (They must have seen the red flags. Many foreigners were coming in and out of the building. They probably saw that there were many computers). All of those are red flags already but they did not fulfill their social responsibility,” he said.

A total of 435 POGO workers, including 148 foreign nationals, were arrested during a raid on the Chinese-run POGO hub inside the ATI building in front of the Parañaque Integrated Terminal Exchange on Thursday night.

About 136 Chinese nationals, five Vietnamese, three Malaysians, two Thais, a Taiwanese, and an Indonesian were among those taken into custody, Casio said.

Casio said the Dan Ying Gaming Corp. is allegedly owned by a “well-known” Filipino-Chinese businessman.

Let me end this post by asking you readers: What do you think about this recent development? If you are a resident of Parañaque, are you concerned that there could still be a lot more illegal POGOs operating inside many buildings all across the city? Do you consider the Bay Area of Parañaque a potential hot spot of illegal POGOs secretly operating inside office buildings? Do you think that money generated by POGOs and sourced from illegal activities online are fuelling Parañaque’s economy significantly? Does this influence the way you plan to vote in the local elections of Parañaque this May?

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

Direct loading to GCash and Maya recently phased out by BPI

February 20, 2025February 12, 2025carlocarrasco

In case you missed the news, direct loading to e-wallet services GCash and Maya using the app of Bank of the Philippine Islands (BPI) has been disabled recently as the bank made changes, according to a Manila Bulletin news report.

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

The Bank of the Philippine Islands (BPI) is phasing out its direct e-wallet loading feature for GCash and Maya on Feb. 13, 2025.

After this date, BPI customers will no longer be able to use the “Load E-Wallet” option within the BPI mobile app to fund their GCash or Maya accounts.

Instead, BPI is advising users to transfer funds via InstaPay and PesoNet using the “Transfer to other banks” function. Within this feature, customers can select “G-Xchange” for GCash or “Maya Philippines Inc/Maya Wallet” for Maya.

BPI explained that this shift is in line with Bangko Sentral ng Pilipinas (BSP) Circular 980, which outlines the National Retail Payment System Framework, and complies with recommendations from the Philippine Payments Management, Inc. (PPMI) as detailed in Advisory No. 2024-1104-020.

Let me end this post by asking you readers: What is your reaction to this recent development? If you are a BPI user who also has a GCash or Maya account, were you deeply affected by the recent changes? Do you find transferring money from BPI to an e-wallet service more inconvenient to do today?

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

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Muntinlupa City Government to implement zero-contact policy in issuance of business permits and licenses

February 15, 2025February 8, 2025carlocarrasco

Recently in the City of Muntinlupa, a new ordinance was approved resulting in the City Government to implement a zero-contact policy in the issuance of business permits and licenses, 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 Muntinlupa City government will implement a zero-contact policy in the issuance of business permits and licenses.

Mayor Ruffy Biazon signed Ordinance No. 2025-303, passed by the Muntinlupa City Council, “Institutionalizing Business E-Payment System (BeST) for Effective Implementation of the ‘Zero-Contact Policy’ in the Issuance of Business Licenses and Permits in Muntinlupa City.”

The ordinance stated that “in compliance to the mandate of all existing laws and national directives, the City Government of Muntinlupa through the Business Permits and Licensing Office (BPLO) established Business E-Payment System (BeST) as an online platform to facilitate applications for new and renewal of business permits.”

BeST “allows electronic payments through various partner banks, e-wallets, and payment gateways and also provides an option of door-to-door delivery service.”

The ordinance added that “there is an urgent need to institutionalize the said system to support and enhance city services in pursuit of being a ‘smart city’ and be compliant with the said laws and national directives.”

It mandates the Muntinlupa BPLO to “adopt and establish Business E-Payment System (BeST) as an online platform of the City Government of Muntinlupa to facilitate application for, processing of, and issuance Of business licenses and permits for business entities, including, but not limited to, those owned and operated by individuals, partnerships, cooperatives, associations or corporations in the City of Muntinlupa.

“The BeST will guarantee the effective implementation of the ‘zero-contact policy,’ transparency and good governance that eliminates the possibility of graft and corruption with lesser personnel the taxpayer deals with,” the local law stated.

Under BeST, “electronic versions of licenses, clearances, permits, certifications or authorizations with the same level of authority and containing the electronic signature of the authorized officer/s and seal of the City, which may be printed by the businesses in the convenience of their offices” shall be provided.

Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City, does the new zero-contact policy in the issuance of business permits and licenses make a lot of sense?

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

DOTr’s “road safety park” to rise in Muntinlupa City

February 14, 2025February 13, 2025carlocarrasco

Yesterday in Muntinlupa City, the “road safety park” project of the Department of Transportation (DOTr) was formally started with a groundbreaking ceremony at the Muntinlupa Sports Center, according to a news article by the Philippine News Agency (PNA).

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

The Department of Transportation (DOTr) on Thursday broke ground for a new ‘road safety park’ in Muntinlupa City that seeks to promote active transportation through the construction of road safety features and cycling facilities.

Transportation Undersecretary for Road Transport and Infrastructure Jesus Ortega (2nd from left) and Muntinlupa City Mayor Ruffy Biazon (2nd from right) lead the groundbreaking for Muntinlupa City’s first-ever ‘road safety park’ at the Muntinlupa Sports Center. (photo source – DOTr)

The park is being built on a 3,140-square meter lot at the Muntinlupa Sports Center and will be connected to public road transport.

It will feature bike lane classes, public transport stops, a road signage park, and a footbridge, and will be connected to public road transport.

“Through these initiatives, we are not only building infrastructure — we are fostering a culture of safety, sustainability, and inclusivity,” DOTr Undersecretary for Road Transport and Infrastructure Jesus Ortega said during the groundbreaking rites.

*The ribbon-cutting ceremony. (photo source – DOTr)*

He said cyclists will be able to enjoy end-of-trip cycling facilities featuring a bicycle parking shed with u-shaped racks and a bicycle repair station.

“These efforts will benefit thousands of people, including students, employees, and visitors, as we work together to transform Muntinlupa into a model city for active transport and road safety.”

Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City, do you think the DOTr’s “road safety park” will turn out useful? Are you delighted that the project is being built in the city?

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

Over P1.2 billion in coins deposited through BSP’s machines

February 13, 2025February 4, 2025carlocarrasco

The Bangko Sentral ng Pilipinas (BSP) revealed online recently that the overall collection of its coin deposit machines (CoDMs) has exceeded P1.2 billion. The latest statistics are accurate of as January 15, 2025.

Based on the latest statistics, a total of P1,235,393,307.96 (14.07%% higher than the previous count of P1,082,972,600.36) in coins got deposited into BSP machines on 284,974 transactions from customers. In terms of physical quantity, 310,679,523 coins were deposited.

Doing the math on the latest statistics, customers averaged P4,335.1088 per transaction at the machines (compared to the November 15, 2024 average of P4,231.9156 per transaction). As for the grand total Peso amount divided by the number of coins deposited, the average is P3.9764 per coin deposited (previous average was P3.8654 per coin deposited)

When it comes to the number of coins involved with each transaction, 310,679,523 coins divided by 284,974 transactions resulted in an average of 1,090.2030 coins per transaction (a slight drop compared to the previous average was 1,094.8293 coins per transaction).

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the BSP coin deposit project deposits could hit P2 billion by the end of this year? When was the last time you deposited at least 50 coins into the nearest CoDM of the BSP? Do you think it is time for the BSP to add its coin machines in the Visayas and Mindanao regions?

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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Mitsubishi will invest P7 billion in the Philippines

February 13, 2025February 7, 2025carlocarrasco

Japanese motor giant Mitsubishi Motors Corp. (MMC) formally announced recently that it will be investing P7 billion in the Philippines which President Ferdinand “Bongbong” Marcos, Jr., welcomed, 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…

President Marcos welcomed Mitsubishi Motors Corp.’s (MMC) P7-billion investment plan in the Philippines in the next five years, saying this will create more jobs for Filipinos.

Marcos expressed his appreciation to MMC during Mitsubishi President and CEO Kato Takao’s courtesy call to the President in Malacañan on Thursday, Feb. 6, to discuss the company’s investment plan in the Philippines.

During their meeting, Kato said MMC’s expansion plan includes adding a new production model at its Mitsubishi Motors Philippines Corp. (MMPC) plant in Laguna. Marcos welcomed this move as it would generate more jobs for Filipinos.

“The jobs that it will provide, that your investment will provide, are very important to us and certainly, vehicle manufacture is one of those,” President Marcos said.

In a Facebook post, the President described Mitsubishi as a valuable partner in his administration’s quest to boost the automotive industry.

“As a strong partner in our journey to strengthen the automotive industry and empower Filipino workers, we welcome Mitsbushi Motors Corporation’s plans to expand operations in the country,” he wrote.

“Mr. Takao Kato and I share the same goals of driving innovation, creating more jobs, and making sustainable transportation a reality for Filipinos,” he added.

During the meeting, Marcos said that MMC will be included in the government’s Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) Program, a new proposed version of the Comprehensive Automotive Resurgence Strategy (CARS) Program. He hoped MMC’s inclusion would help in its expansion plans.

For his part, Kato said the Philippines is MMC’s most important investment in Southeast Asia, citing its good and stable economy.

“In the ASEAN, (the) Philippines is our number one market,” Kato told the President.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think Mitsubishi’s ambitious investment plan will add a lot to the ongoing economic growth of 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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