finance – Page 2 – Author Carlo Carrasco

Moody’s Analytics Cuts Philippines 2026 GDP Growth Forecast to 3%

September 1, 2026August 27, 2026carlocarrasco

By citing key factors like weak consumption, Middle East oil shock and the collapse in private investment, Moody’s Analytics officially slashed its 2026 gross domestic product (GDP) growth forecast for the Philippines to 3%, according to a news report by BusinessWorld.

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

MOODY’S ANALYTICS slashed its 2026 growth forecast for the Philippines, amid weak consumption and a collapse in private investment.

In its latest Asia-Pacific Outlook report dated Aug. 24, the analytics firm said it now sees Philippine gross domestic product (GDP) expanding by 3% this year, slower than its 4% projection in June.

“We lowered our 2026 GDP growth forecast to 3% from 4% in the June vintage after incorporating the second-quarter GDP result, which was far weaker than expected,” Moody’s Analytics Assistant Director and Economist Sarah Tan said in an e-mailed reply to questions.

The Philippine economy slumped to its worst post-pandemic growth of 2.3% in the April-to-June period, as investments and public construction continued to reel from last year’s flood control corruption scandal. Rising prices from the Middle East war-driven oil shock also strained household spending.

“The economy expanded by just 2.3% year on year, with private consumption showing notable weakness and private investment collapsing,” Ms. Tan noted. “This points to softer underlying domestic demand than we had previously anticipated.”

As of the first half of 2026, the country’s GDP growth averaged 2.6%, well below the government’s 3.5%-4.5% full-year target.

If Moody’s Analytics’ forecast holds true, the government will miss its growth target for a fourth year in a row. The economy would also further soften from last year’s post-pandemic low growth of 4.4%.

Economists earlier said that reaching even the bottom end of the government’s target entails a steep climb, as it means the economy must grow by at least 4.4% in the second half.

Moody’s Analytics sees growth recovering over the next two years to 4.6% in 2027 and 5.1% in 2028. The government wants full-year expansion to be between 5% and 6% from 2027 to 2030.

Meanwhile, GlobalSource Partners Country Analyst Diwa C. Guinigundo noted that the Philippines could face a more complicated path toward fiscal consolidation if growth remains below potential.

“Slower growth would make fiscal consolidation and debt reduction more difficult,” he said in a Viber message. “The issue is not simply that government revenues would grow more slowly; a weaker economy also means a smaller denominator for the debt-to-GDP ratio.”

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think 2026 will end up as a very disappointing year of economic growth for the Philippines? Do you think the economy of the Philippines could still fall into a recession in 2027 or in the first half of 2028? Are you convinced that the Philippines has nothing to gain economically from hosting the ASEAN Summit?

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

Two Foreigners Arrested over Tokyo Luxury Watch Theft

August 30, 2026August 28, 2026carlocarrasco

Recently in Japan, police officers arrested two men from the nation of Chile over the theft of four luxury wristwatches from a store in Tokyo, according to a news report by NHK World. One of the suspects admitted that he and his partner planned to sell the stolen watches and bring the money back with them to Chile.

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

Japanese police have arrested two Chilean men on suspicion of stealing four luxury wristwatches from a shop in Tokyo’s Nakano Ward earlier this week. The stolen items are worth about 200 million yen, or roughly 1.25 million dollars.

Police arrested the men after they were found at a private lodging facility in the western city of Osaka on Thursday. The suspects are 23 and 33 years old, respectively.

Police say investigators found a watch of the same brand as one of the stolen items in the men’s belongings.

Police quote the 23-year-old suspect as saying the two stole only one watch. They also say the 33-year-old suspect admitted to the allegations, and told investigators that the pair planned to sell the watches and take the money back to their home country.

Police say they are investigating where the suspects traveled to after they arrived in Japan on August 21, and what led them to commit the crime.

The theft occurred at a watch retailer in the Nakano Broadway commercial facility on Tuesday. A display case was broken with a hammer. Two perpetrators were in the shop for only around 10 seconds before fleeing the scene.

For additional insight, watch the related Nippon TV news video below.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think the two Chilean suspects are guilty of the crime beyond reasonable doubt? Do you think the investigators will be able to find more details behind the theft and how the suspects traveled all the way to Osaka after committing the theft in Tokyo? If you were in Japan during the past few years, have you ever witnessed foreigners committing violence or theft there?

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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Tourism Industry of Vietnam Shifts Focus From Visitor Numbers to Spending

August 29, 2026August 24, 2026carlocarrasco

As it enjoys the many benefits of the ongoing tourism boom, Vietnam now has the opportunity to truly build itself up economically by means of long-term investments and creating new jobs. That said, the tourism industry of the nation has shifted focus from attracting visitors to higher spending, longer stays and other economic opportunities, according to a news report by VnExpress.

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

Vietnam is shifting tourism growth from attracting more visitors to generating greater value from each trip, with a focus on higher spending, longer stays, green development, technology application and cultural experiences.

The country aims to welcome 45-50 million international visitors and 160 million domestic tourists by 2030, Do Cam Tho, head of the Planning and Finance Division at the Vietnam National Authority of Tourism (VNAT) under the Ministry of Culture, Sports and Tourism, said at HORECFEX Vietnam 2026, a major hospitality and tourism forum.

She said 2026-27 would be a pivotal period in shifting tourism development from expansion in scale to deeper value creation.

Vietnam welcomed 21.2 million international visitors and 137 million domestic tourists in 2025, with total tourism revenue estimated at around VND1 quadrillion ($38.1 billion).

In the first seven months of 2026, the country received nearly 13.92 million foreign tourists, up 13.8% year on year, while domestic visitors numbered about 98 million, with tourism revenue of 675 trillion VND.

International visitors currently spend an average of US$1,200-1,400 per trip in Vietnam, while domestic tourists about 2.4-2.6 million VND (US$92-99).

About 70% of foreign visitors come from China, the Republic of Korea, Japan and Taiwan (China), while markets with higher spending power, including the Middle East, Northern Europe, North America and Australia, still account for relatively small shares.

Tourism is receiving greater attention as Vietnam seeks to achieve rapid national development and make tourism a spearhead economic sector, Tho was quoted by Tuoi Tre (Youth) newspaper as saying.

Under the proposed approach, Vietnam targets total tourism revenue of $80-90 billion by 2030. The country is expected to have about 1.5 million accommodation rooms and tourism is projected to create around 5.8 million direct and indirect jobs.

Among three development scenarios for 2030, the most ambitious targets annual international visitor growth of 15-18%. Achieving it will require institutional reforms, development of the night-time economy, diversification of high-end markets and measures to increase visitor spending.

VNAT said Vietnam will continue to consolidate Northeast Asian and ASEAN markets while expanding into Europe, North America, Australia and other markets with high spending capacity and longer stays.

India, the Gulf Cooperation Council (GCC) countries, Russia and Muslim markets have been identified as areas with significant growth potential.

For domestic tourism, the focus will shift from boosting visitor numbers to encouraging higher spending, with an emphasis on two- to three-day weekend getaways, high-end Meetings, Incentives, Conferences and Exhibitions (MICE) tourism, family vacations and night-time tourism.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think Vietnam’s tourism industry players are fully prepared to make the most of the economic benefits that come with surging foreign and domestic tourism? Do you think new investments related with the tourism boom will be made soon in Vietnam? How many millions of new jobs do you think will be created in Vietnam as a result of the tourism boom?

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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South Korean Man Who Overstayed in Japan for Decades Apprehended

August 29, 2026August 28, 2026carlocarrasco

As Japan is in the middle of reforming its immigration system and the permanent residency requirements for foreigners, a 72-year-old man from South Korea was arrested by the local authorities for overstaying in the country for a few decades already, according to a VnExpress news report. The suspect admitted he overstayed and supported himself with different jobs locally and how exactly he entered Japan will surprise you.

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

A 72-year-old South Korean man has been arrested in Japan for allegedly overstaying his tourist visa for more than 26 years, police said.

Shizuoka Prefectural Police announced on Aug. 26 that the man had entered Japan illegally and continued to live in Yaizu City, Shizuoka Prefecture.

Police said they received a tip about the man in June and subsequently arrested him.

He originally entered Japan in September 1993 on a 15-day tourist visa, using his brother’s passport because he hoped to find better-paid work in the country, as reported by ANNnewsCH.

The man is believed to have remained in Japan since his arrival 26 years ago.

Because visa overstaying was not a criminal offense in Japan until February 2000, when a revised immigration law took effect, police arrested him on suspicion of overstaying from that point onward, according to the Japan Times.

The suspect has admitted to the allegation, telling investigators that he supported himself by working various day jobs.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think the person who informed the local police about the overstaying foreigner should be rewarded? Does this news make you feel concerned about the potential presence of illegal aliens in your local community? Do you think Japan has what it takes to find all of the overstaying foreigners, apprehend them and eventually deport them? If ever the suspect gets deported, do you think he could adjust to life in his native South Korea?

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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SBMA Offers Exemptions and Incentives for P7 Billion Subic Bay International Airport Modernization

August 27, 2026August 21, 2026carlocarrasco

The Public-Private Partnership (PPP) Center confirmed that the company that wins the bid for the P7 billion Subic Bay International Airport (SBIA) project will receive exemptions and incentives that include exemptions from national and local taxes, 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 winning bidder for the ₱7-billion concession to transform Subic Bay International Airport (SBIA) into a world-class logistics hub will receive a generous government incentives package, including national and local tax exemptions.

The Public-Private Partnership (PPP) Center noted that the project’s implementing agency, the Subic Bay Metropolitan Authority (SBMA), will offer a competitive slate of incentives to support long-term private investment.

Under the Special Corporate Income Tax (SCIT) regime, the winning operator may qualify for a five percent corporate income tax rate for up to 16 years, with the possibility of an extension subject to eligibility requirements.

As long as it is registered as an export enterprise with the SBMA, the concessionaire will be exempt from all national and local taxes under the SCIT regime.

It may also enjoy exemptions from customs duties and value-added tax (VAT) on imports, along with zero-rated VAT on qualified local purchases.

Beyond fiscal incentives, the project also opens up commercial opportunities outside standard airport operations. The operator can generate additional revenue through cargo handling, warehousing, commercial leasing, logistics services, and other non-aeronautical ventures.

“The SBIA project offers a compelling opportunity for the private sector to partner with the government in developing one of the Philippines’ most strategic aviation and logistics gateways,” the PPP Center said in a statement.

The SBMA recently launched a comparative challenge for the airport’s modernization and expansion, which originated from an unsolicited proposal by United States-based Cerberus Asia Pacific Investments LLC.

Under this process, interested firms may submit competing offers against the original proposal. As the original proponent, Cerberus retains the right to match or beat the best offer.

Cerberus, which has assets across transportation, real estate, and other sectors, wants to manage the SBIA under a 25-year operate-rehabilitate-add-transfer (ORAT) scheme, with an investment cost of around ₱7 billion.

The concession aims to develop the gateway, located northwest of Manila, into a strategic cargo and logistics hub that would help ease congestion at Ninoy Aquino International Airport (NAIA), especially as demand for air cargo continues to grow.

The project will focus on upgrading existing airport facilities to align them with international standards, alongside the development of new facilities to transform the airport into a higher-capacity logistics hub.

The SBIA is poised to support logistics and aviation growth through the development of the airport’s midway apron, which will consist of two warehouse buildings with a total floor area of 22,400 square meters (sqm) and a 32,000-sqm aircraft staging and parking area.

The north airport land development, meanwhile, covers an additional 88,000 sqm across four parcels of land for warehouse facilities, a hangar, a storage facility, and additional apron space.

To ensure proper development of the project, SBMA will assist the private partner in securing the necessary approvals for implementation and facilitating permits and regulatory coordination.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Subic Bay International Airport project will attract a lot of bidders from overseas? Do you believe the modernization of SBIA will add a lot to the economy of the Philippines in the long-term?

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

BCDA To Ensure Philippines Will Benefit A Lot From Pax Silica

August 24, 2026August 19, 2026carlocarrasco

The Bases Conversion and Development Authority (BCDA) recently announced that it will ensure the Philippines will benefit a lot from the ambitious Pax Silica project as they negotiate with the United States on the final framework, according to a GMA News report.

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

The Bases Conversion and Development Authority (BCDA) on Wednesday said it will ensure that the Philippine side, negotiating with the US on the final framework agreement to hit the ground running for the Pax Silica project in New Clark City, Tarlac, will push for a deal that would be most beneficial for the country.

At the Kapihan sa Manila Hotel, BCDA President and CEO Joshua “Jake” Bingcang said that the government is eyeing to sign the comprehensive framework agreement for the Pax Silica initiative with the US by November.

However, Bingcang admitted that “negotiations can always take longer,” noting that the target signing “is not cast in stone as long as the two [parties] will come up with mutually agreed arrangement.”

Nevertheless, the BCDA chief said the Philippines is pushing for terms that would “most beneficial sa’tin (to us)” as negotiations for the framework deal are ongoing.

“It’s a business contract, normally it is favorable to the host country,” he said.

Bingcang said the government has also made clear that the project will operate under the BCDA’s governing legal framework and applicable investment laws.

“It would be covered by two Philippine laws —the BCDA law and CREATE MORE so the incentives provided will be covered by these two laws,” he said.

“Never in that initial arrangement that we are going to adopt anything other than the two laws,” he added.

Pax Silica is the US Department of State’s flagship initiative on artificial intelligence and supply chain security, aimed at advancing a new economic security framework among allies and trusted partners.

The Philippines in April officially joined the Pax Silica initiative, cementing its place among other 23 global signatories, including the European Union, Japan, India, Singapore, South Korea, and the United Kingdom.

As part of the initiative, Manila and Washington are working to establish a 4,000-acre industrial hub that is envisioned as a new model for AI-focused investment within the Luzon Economic Corridor.

The BCDA chief earlier clarified that the Pax Silica hub is not envisioned as a cluster of hyperscale data centers but as an industrial hub that would include the manufacturing of semiconductors and microchips used in computers, laptops, electric vehicles, and other technologies.

Bingcang said that through Pax Silica, the Philippines and its partners see an opportunity to process raw materials domestically instead of exporting them in unprocessed form.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you feel confident that the BCDA will be able to secure an agreement with the Americans to ensure the Philippines will benefit from Pax Silica economically? Do you realize Pax Silica’s potential to boost manufacturing jobs and the processing of raw of materials in the Philippines?

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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SBMA Port Operations Revenue Grows 8% in First Half of 2026

August 23, 2026August 19, 2026carlocarrasco

Even though global economic headwinds were very challenging and the economy of the Philippines continued to slow down, revenue of the Port Operations Group of the Subic Bay Metropolitan Authority (SBMA) reached P874 million in the first half of 2026 (8% higher compared to the same period last year), the authorities confirmed.

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

The Subic Bay Metropolitan Authority (SBMA) today disclosed a robust 8% increase in consolidated gross revenue from its Port Operations Group, reaching Php 874 million in the first half of 2026, compared to Php 806 million in the same period last year.

This growth was propelled by stronger earnings in the Seaport and Trade Facilitation and Compliance Department (TFCD), despite ongoing global economic challenges.

SBMA Deputy Administrator III for Operations Group, Ronnie Yambao, attributed the positive performance to strategic initiatives that balanced growth with stakeholder support.

“We successfully navigated a complex global environment while implementing discount measures totaling approximately Php 81 million. These were aligned with Executive Order No. 110 of President Ferdinand R. Marcos, Jr., aimed at mitigating disruptions caused by the fuel supply crisis linked to the Middle East conflict,” Yambao explained.

Breaking down the revenue contributions for H1 2026:

• The Seaport Department continued to be the primary revenue driver, contributing 78% of the consolidated gross income with Php 683 million—marking a 10% increase year-on-year. This growth was largely fueled by an 18% rise in non-containerized cargo, particularly bulk and break- bulk shipments, which surged 24%.

• Subic Bay International Airport accounted for 14% of the revenue, registering a slight 3% decrease due to lower leasing activities and reduced military logistics operations.

• Meanwhile, the Trade Facilitation and Compliance Department recorded an impressive 17% revenue increase, boosted by the newly implemented Registration Certificate (RC) Policy which introduced additional fees on trucks, heavy equipment, and regulated goods.

The notable increase in non-containerized cargo was further supported by an 88% surge in rice imports. This import growth was driven by proactive government measures to secure rice stocks ahead of the anticipated El Niño weather phenomenon.

The Department of Agriculture (DA) emphasized the critical importance of maintaining sufficient rice inventories in response to potential climate-related production impacts.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you feel confident that port operations in the Subic Bay Freeport Zone will somehow grow stronger until 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.

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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

Vietnamese National Arrested In Parañaque City Over Financial Crime

August 15, 2026August 10, 2026carlocarrasco

Recently in the City of Parañaque, a woman from Vietnam was arrested for estafa over a money deal in which she failed to release P70,000 to a Chinese national who transferred foreign currency to her, according to a news report by The Daily Tribune.

To put things in perspective, posted below is an excerpt from The Daily Tribune report. Some parts in boldface…

A 32-year-old Vietnamese national was arrested in Parañaque City after allegedly receiving 7,607.98 Chinese yuan through Alipay but failing to turn over the agreed P70,000 equivalent in Philippine currency to a Chinese national.

The incident occurred on 7 August at around 3:20 p.m. at Bayview Garden Homes 2 along Roxas Boulevard in Barangay Tambo, Parañaque City. The complainant was identified as a 28-year-old Chinese national.

Initial investigation showed that the two met through a Telegram group where the suspect allegedly offered money exchange services.

The complainant transferred 7,607.98 Chinese yuan to an Alipay account designated by the suspect in exchange for P70,000.

However, the suspect allegedly failed to deliver the agreed cash and repeatedly made excuses when the complainant demanded payment, prompting him to seek police assistance and file charges.

The Vietnamese national was arrested for alleged violation of Article 315 of the Revised Penal Code, or estafa.

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

Over One Thousand Filipinos Working In Greenland

August 15, 2026August 11, 2026carlocarrasco

As Greenland struggles to fill its labor gap, the number of Filipinos living and working there has exceeded one thousand and their community has grown significantly, according to a news report by VnExpress.

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

Filipinos and Thais have become the two largest foreign communities in Greenland, filling a labor gap the Arctic territory cannot close from its own population of about 57,000.

Roughly 1,300 Filipinos and 460 Thais now live on the island, CNA reported. The Filipino community has grown nearly fivefold from five years ago, while the Thai population has roughly doubled.

AFP put the Filipino figure slightly lower, at about 1,200, in a May report from Ilulissat, and identified Filipinos as the largest foreign diaspora in the Danish autonomous territory.

In Nuuk, the capital, there were 770 Filipinos in 2026, compared with 118 a decade ago.

They work in supermarkets, hotels, restaurants, fisheries, cleaning companies, breweries, health facilities and small businesses.

CNA reported that 12% to 13% of the workforce now comes from outside Greenlandic backgrounds, a category that includes Danes and other Europeans. AFP, citing Greenland’s employers’ organizations, put the share of Asian workers at 5% to 6%.

Greenland is the world’s largest island at about 2.16 million square kilometers, roughly the size of Western Europe, but its ice sheet covers close to 80% of the surface and its population is smaller than that of a mid-sized town.

The island is expanding tourism, services, mining and energy. A survey by the Greenland Business Association found a shortfall of around 600 workers across all sectors, and the association says the real gap is larger.

“If we all had two or three jobs, we still wouldn’t have enough people in Greenland. So we are going to be dependent on people coming in,” Christian Keldsen, the association’s director, told CNA.

A worker from Asia in Greenland earned an average of $52,800 across all sectors in 2024, according to figures cited by CNA. That is about 9.5 times the average annual wage in Thailand and more than 12 times the average in the Philippines.

A work permit also carries publicly financed healthcare, medicine, education and retirement benefits, said Steven Arnfjord, a professor at the University of Greenland who directs its Center for Arctic Welfare.

Few migrants arrive through recruitment agencies. One relative secures a permit, establishes themselves, then brings a spouse or children through family reunification.

Kristine Juul, a researcher at Roskilde University, has described the pattern to Polar Journal as chain migration, in which relatives and friends pass job information across continents.

Annabelle Cruz, 39, is a sales leader at the Brugseni supermarket chain in Nuuk. She is one of 31 members of her extended family now living and working in the capital, a chain that began 16 years ago when her sister moved.

Cruz arrived from Pampanga two years ago and now switches between English, Danish and Greenlandic on the shop floor.

About 10.7 million Filipinos live overseas, close to a tenth of the country’s population, according to the Commission on Filipinos Overseas.

Personal remittances reached a record $39.62 billion in 2025, the Bangko Sentral ng Pilipinas reported, while cash remittances of $35.63 billion equaled 7.3% of GDP. Thailand’s inflows run at roughly 2% of GDP, World Bank data shows.

Keldsen said the government is working with employers on faster hiring. The old assumption that outside labor signals local incompetence is a colonial hangover that could fuel a backlash if handled badly, he said.

Let me end this post by asking you readers: What is your reaction to this recent development? Are you surprised to learn about the fast-growing community of Filipinos living there in Greenland? Do you know anyone who visited Greenland before?

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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Subic Bay Freeport Visited By Thai Ambassador And Business Leaders

August 14, 2026August 6, 2026carlocarrasco

A delegation led by Thailand’s ambassador to the Philippines Makawadee Sumitmor visited the Subic Bay Freeport Zone and was welcomed by the Subic Bay Metropolitan Authority (SBMA), the authorities confirmed. With the ambassador were business leaders of Thailand and they visited to explore investment opportunities in the Freeport.

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

A delegation of Thai business leaders, led by Her Excellency Makawadee Sumitmor, Ambassador of the Kingdom of Thailand to the Philippines, recently visited Subic Bay Freeport (SBF) to explore promising investment opportunities in this strategic economic zone.

The delegation was warmly received by Eduardo Jose L. Aliño, Chairman and Administrator of the Subic Bay Metropolitan Authority (SBMA), who highlighted the region’s strategic location within the Luzon Economic Corridor (LEC) and its potential as a hub for trade and industry.

On 26 July 2026, at the Subic Bay Exhibition and Convention Center (SBECC), members of the Thai business delegation met with SBMA’s Business and Investment Group (BIG) officers to discuss avenues for collaboration and potential investments in the SBF.

Ambassador Sumitmor emphasized the strong investment potential for Thai companies in sectors such as energy, logistics, technology, digital innovation, and various service industries. Representatives from the Thai embassy, the delegation, and PTT Philippines Corporation expressed optimism about future partnerships.

The delegation also toured key facilities and businesses within the Freeport, identifying strategic areas for investment in the LEC. PTT Philippines Corporation, a leading oil and energy company and a wholly owned subsidiary of Thailand’s PTT Oil and Retail Business Public Company Limited (PTT OR), serves as a strong foundation for expanding Thai ventures within the region.

The Subic Bay Freeport Zone plays a crucial role as a western maritime gateway in the Luzon Economic Corridor, linking major economic centers including Subic, Clark, Manila, and Batangas.

The LEC initiative aims to enhance infrastructure and logistics, fostering greater connectivity through substantial planned investments.

Thailand is actively pursuing opportunities in trade, logistics, and manufacturing within the Philippines’ LEC. The relative proximity of Subic Bay to Thailand, accessible by sea within three to four days, offers significant logistical advantages for Thai businesses seeking regional expansion.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you feel confident about Thailand making new investments in the Subic Bay Freeport Zone as the nation is actively pursuing opportunities within the Luzon Economic Corridor? What kind of businesses do you think Thai investors will set up in Subic Bay? Do you feel that direct travel connections between Thailand and Subic Bay will be realized 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 @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

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