Tag: investment

AIA Philippines’ investment management arm expresses optimism of robust growth of the Philippine economy

AIA Philippines’ investment management arm expresses optimism of robust growth of the Philippine economy

carlocarrasco

Recently, the investment management arm of AIA Philippines expressed confidence that the Philippine economy will continue to have robust growth in connection with what they claim to be an expanding manufacturing sector, according to news article published by the Philippine News Agency (PNA).

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

An official of the investment management arm of AIA Philippines is optimistic on the robust growth of the domestic economy as the manufacturing sector continues to expand.

In a briefing on Thursday, AIA Investment Management and Trust Corporation Philippines (AIAIM Philippines) chief executive officer Angie Pacis said the country’s manufacturing sector is expected to continue posting expansion following the seven-month high manufacturing index in January 2023.

“Notwithstanding the slight weakening of the business confidence and consumer confidence, businesses will still be on a growth track,” she said.

The S&P Global Manufacturing Purchasing Managers Index (PMI) hit 53.5 in the first month this year. An index of 50 and above indicate expansion while those below 50 indicate contraction.

Pacis said forecasts point to continued 50-level index in the coming months.

Pacis also identified demographic dividends as among the factors that will help boost domestic growth this year given the large number of young people who are part of the workforce.

“It’s a young population, it’s a big population with a growing middle class that is actually becoming stronger. Because of that, we will continue to attract investments notwithstanding some of the structural problems,” she added.

These factors are seen to boost one-year-old AIAIM Philippine business, which currently offers three unit investment trust funds (UITFS) namely AIA Peso Adventurous Fund, AIA Peso Balanced Fund and AIA Peso Conservative Fund.

Pacis said the products they are offering are exclusively available for AIA Philippines policy holders for now, while the assets amounting to PHP155 billion they currently have will be handled purely without catering to outside investors.

Let me end this piece by asking you readers: What is your reaction to this new development? Were you able to understand the explanations from AIA Philippines investment management arm?

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

+++++

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

Philippines achieves 7.6% economic growth in 2022

Philippines achieves 7.6% economic growth in 2022

carlocarrasco

The Philippines’ recovery from the downturn of the COVID-19 crisis continued strongly as it has been confirmed that the national economy expanded by 7.6% for the entire year of 2022 which includes a 7.2% 4th quarter economic growth, according to a news article by the Philippine News Agency (PNA). Take note that the Philippines is expected to grow between 6.5% and 7% in 2023 according to the national authorities while there are signs that the United States economy will fall into a recession this year. Regardless, the Philippines ended 2022 competitively in terms of economic expansion among its Asian neighbors.

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

The Philippine economy expanded by 7.2 percent in the last quarter of 2022, bringing full-year growth to 7.6 percent, driven by increased economic activity mainly from pent-up demand as it fully reopened amid elevated inflation rate.

National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said among the major emerging economies in the region that have released their fourth-quarter gross domestic product (GDP) growth, the Philippines grew the fastest, followed by Vietnam at 5.9 percent and China at 2.9 percent.   

“Our improved Covid-19 (coronavirus disease 2019) risk management and the easing of mobility restrictions have created a positive economic outlook, boosting economic activity and creating more jobs despite external headwinds,” he said in a briefing on Thursday. 

Balisacan said measures being implemented by the government to further buoy the economy’s recovery are working.

“Our strong economic growth performance for 2022 proves that our calibrated policies and strategies have helped put us on the path to recovery and on track to achieving our aspiration for an inclusive, prosperous, and resilient society by 2028,” he said.

Balisacan said pent-up demand drove growth in the fourth quarter as the economy was fully reopened during the period, with household consumption accounting for around three-fourths of domestic output, and investments contributing around a fifth.

“The improvements in labor market conditions, increased tourism, revenge and holiday spending, and resumption of face-to-face classes supported growth in the quarter, further reflecting a solid rebound in consumer and investor confidence in the economy,” he said.

Balisacan said had it not been for the elevated inflation rate, which rose to its highest since November 2008 last December when it accelerated to 8.1 percent, “growth could have been higher by another perhaps 1 to 2 percentage points.”

“It shows how overall demand is sensitive to inflation,” he added.

In terms of the volume of economic activities, Balisacan said domestic growth has recovered for many sectors, except for others such as tourism.

“(But) in so far as per capital income… we haven’t fully recovered yet,” he said.

Balisacan said the government is firm on ensuring that quality jobs will be available to Filipinos to lessen their need to work abroad.

“Inclusive growth across the archipelago will be our vehicle for reducing poverty incidence from 18 percent of the population in 2021 to a single-digit level by 2028,” he said.

National Statistician Dennis Mapa said 2022 full year GDP growth of 7.6 percent exceeded the government’s 6.5 to 7.5 percent growth assumption for the year and the highest after the 8.8 percent in 1976.

Mapa said the fourth-quarter growth, slower than the 7.6 percent in the previous quarter, was driven by the wholesale and retail trade, repair of motor vehicles and motorcycles, financial and insurance activities and retail estate and ownership of dwellings boosted domestic growth.

He said domestic demand remained strong, with the household final consumption expenditure (HFCE) rising by 2.1 percent quarter-on-quarter, led by the restaurants and hotels, food and non-alcoholic beverages, and miscellaneous goods and services. Year-on-year expansion of HFCE stood at 7 percent.

Among the major economic industries, Mapa said agriculture, forestry, and fishing contracted by 1.7 percent because of the lower output of sugarcane, palay (rice), and poultry and egg production.

Meanwhile, Balisacan said the government is doing pro-active assessment of the current situation to address the elevated inflation rate in the country, which is expected to go back to within the government’s 2 to 4 percent target band by the second half of this year.

He said the government continues to allow the importation of several food items to boost domestic supply, adding that not doing so will hurt both the consumers and domestic growth.

Let me end this piece by asking you readers: What is your reaction to this new development? Do you believe that the economy of the Philippine economy will grow between 6.5% to 7% this year? Do you think that more foreign tourists coming into the country will be able to help the nation achieve its economic growth targets this year? Apart from what was already mentioned, what do you think the national government should do to combat inflation? Do you think that the lower income tax for middle income earners will make a positive contribution to economic growth?

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

+++++

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

Philippines Finance Secretary Diokno says the national economy is resilient enough to face post-pandemic world

Philippines Finance Secretary Diokno says the national economy is resilient enough to face post-pandemic world

carlocarrasco

Recently in a high-level economic meeting in Germany, Philippines Finance Secretary Benjamin Diokno declared that the national economy is resilient enough for the post-pandemic world and that the national government has been making adjustments, according to a news article published by the Philippine News Agency (PNA).

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

Finance Secretary Benjamin Diokno on Monday told foreign investors and business leaders that the Philippine economy is resilient enough and that the government is doing its best to address post-pandemic challenges.

Diokno made the remarks during the Philippine economic briefing attended by the economic managers in Frankfurt, Germany that was streamed through various government agency Facebook pages.

The Finance chief noted that inflation is also a concern in the Philippines just like in other countries, but measures are being undertaken by the government to address the issue, such as managing prices by ensuring adequate supplies of agricultural products, and boosting the agriculture sector’s capacity and productivity to help address the rising commodity prices, among others.

“We also are continuing the importation of necessary commodities to ease inflation,” he said.

The government has allowed the continued importation of rice, sugar, and meat, which are among the primary factor for the elevated food prices due to supply issues.

Relatively, Diokno assured investors that the government has put in place a fiscal consolidation program to address the uptick in government liabilities, due in part to the increased borrowing to finance pandemic-related programs.

He identified three factors that will support the government’s fiscal consolidation and one of this is the fact that “only a small fraction of our outstanding debt is exposed to interest rate resetting.”

This, as bulk of the government liabilities are sourced from domestic fund sources, with around 75 percent of the borrowing program allocated to the domestic market.

“We already have anticipated the tightening monetary policy conditions when we formulated the interest rate payments in the 2023 budget,” Diokno said.

He added that “government securities market is dominated by local players that are bank-centric and homogeneous in investment governance.”

Let me end this piece by asking you readers: What is your reaction to this new development? Do you believe that the economy of the Philippines is resilient enough for the post-pandemic age even as there are concerns about high inflation and economic slowdown around the world? Do you believe that the national government has what it takes to make key adjustments to unforeseen developments that could happen anytime? Are you convinced that foreign investors as well as foreign tourists will come into the Philippines in great numbers over the next eighteen months? How is your local government doing when it comes to economic developments like livelihood, jobs training and other related activities?

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

+++++

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

Middle income earners in the Philippines will have lower income taxes this year

Middle income earners in the Philippines will have lower income taxes this year

carlocarrasco

Recently, it was emphasized that middle income earners here in the Philippines will have lower income taxes to pay in accordance to the Tax Reform for Acceleration and Inclusion (TRAIN) law (Republic Act Number 10963) which will result in better take-home pay this year, according to a news article published by the Philippine News Agency (PNA). This is related to what was reported weeks ago by GMA Network news.

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

Middle-income earners will have lower income taxes this year and thus, higher take-home pay, under Republic Act No 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) law.

Taxpayers earning more than PHP250,000 a year but not over PHP8 million will be subject to lower income tax rates ranging from 15 percent to 30 percent, from the previous 20 percent to 32 percent.

Those with annual taxable income of PHP250,000 or below will continue to be exempt from paying income taxes.

“Inaasahan natin na lalo pang lalakas ang domestic consumption na may malaking kontribusyon sa paglago ng ating ekonomiya. Dahil sa pinababang buwis, mas mataas ang take-home pay ng mga empleyado na magiging malaking tulong sa gitna ng mataas na presyo ng mga bilihin (We expect a stronger domestic consumption which will be big contribution to our economy. With lower tax and higher take-home pay, this will be a good help amid the rising prices of commodities),” Senator Sherwin Gatchalian said in a statement on Monday.

Gatchalian cited the Teacher 1 post, with a monthly salary of PHP25,439 or Salary Grade (SG) 11, will now have monthly tax savings of PHP420.83 or PHP5,050 for the year.

A Nurse III with SG 17 or an entry level monthly income of PHP43,030 will save PHP1,289.13 monthly or PHP15,469 yearly.

“Dahil sa mas mataas ang kanilang kita, inaasahan din natin na magiging maganda itong insentibo para sa mga empleyado na lalo pa nilang paghusayan ang kanilang trabaho at magtulak sa kanila para mag impok o kaya ay mamuhunan (Because of a higher take-home pay, workers will be inspired to work better, save and invest), Gatchalian said.

Also included in the TRAIN law are provisions for small and micro self-employed professionals, who now have the option to pay a simpler, flat tax of eight percent on gross sales in lieu of the income and percentage tax.

Taxpayers can save time falling in line and filing and paying from eight times a year will be reduced to just four.

Estate tax will also be lowered from 20 percent to a single rate of six percent for net estate with standard deduction of PHP5 million as well as exemption for the first PHP10 million for the family home.

Let me end this piece by asking you readers: What is your reaction to this new development? Are you qualified for a reduction of income taxes under the TRAIN Law? Have you consulted with a certified tax expert already?

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

+++++

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

HSBC sees Philippine economy growth of 4.4% for 2023 due to key factors

HSBC sees Philippine economy growth of 4.4% for 2023 due to key factors

carlocarrasco

HSBC, one of the biggest players of the global financial industry, recently made its forecast of the Philippines growing economically at 4.4% for the year 2023, according to a news article by the Philippine News Agency (PNA). There are certain factors mentioned in HSBC’s assessment for the nation.

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

Hikes in the Bangko Sentral ng Pilipinas’ (BSP) key policy rates are expected to dampen the strong domestic output for 2023, with an executive of HSBC forecasting a 4.4 percent expansion this year.

In a virtual briefing on Thursday, HSBC chief investment officer for Southeast Asia, Global Private Banking and Wealth, James Cheo, said private consumption contributed to the strong recovery of the domestic economy last year but this is seen to be limited by the monetary tightening aimed to temper the elevated inflation rate.

Other factors that boosted gross domestic product (GDP) last year include investments, higher government spending on infrastructure and increased mobility following the resumption of face-to-face schooling, he said.

“Looking into 2023, the country’s growth will slow and the recovery is going to be more gradual as the reopening boost fades and monetary tightening weighs on domestic demand,” Cheo said.

As of the third quarter of last year, growth, as measured by gross domestic product (GDP), rose by 7.76 percent, exceeding the government’s 6.5 to 7.5 percent growth assumption for this year.

The BSP’s key rates have been hiked by 350 basis points from May to December last year, after being at record-low of 2 percent in 2020, as monetary authorities help address the elevated inflation rate.

Last December, domestic rate of price increases further accelerated to 8.1 percent, the highest since November 2008, due to faster annual jumps in goods and energy prices.

Cheo said “household’s consumption in 2023 will likely be curtailed” given the elevated inflation rate.

“Strong employment, tourism recovery, expanding production and retail sales, and public investment will continue to support growth in 2023,” he said.

With inflation expected to remain high, Cheo projects the BSP to make three consecutive 25 basis point increases this year, “pausing at 6.25 percent by Q2 (second quarter) 2023” and keeping this decision until at least the second half of 2024.

The above article ended with HSBC predicting that the Philippine Peso will weaken to the United States Dollar at a rate of US$1 = P56.50.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you believe that inflation and interest rates will somehow slow down the ongoing economic growth later this year? Do you think that Philippine tourism will become a factor to help the Philippine economy grow at least 5% this year? What do you think the national government and its economic managers should do to maintain strong growth as the nation keeps on recovering from the depression of the COVID-19 crisis? Have you been managing your personal or business finances carefully recently?

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

+++++

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

Philippine economy grew 7.6% in the 3rd quarter

Philippine economy grew 7.6% in the 3rd quarter

carlocarrasco

You may not feel it but the economy of the Philippines grew by 7.6% in the 3rd quarter this year according to the recent announcement published by the Philippine News Agency (PNA). This is very encouraging news following the recent report of the falling unemployment in the country. Indeed, the nation continues to rise after suffering from the COVID-19 crisis’ downturn.

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

The Philippine economy grew at a faster rate in the third quarter of the year at 7.6 percent, higher than the revised gross domestic product (GDP) growth in the second quarter at 7.5 percent, the Philippine Statistics Authority (PSA) reported Thursday.

In a press conference, PSA Undersecretary Dennis Mapa said this is the sixth consecutive quarter that the economy recorded expansion.

The country’s GDP growth from July to September 2022 is also higher than the 7-percent increase in the same period in 2021.

“The third quarter’s GDP exceeded the median analyst forecast of 6.3 percent,” National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said.

Balisacan said the average GDP growth for the first nine months of the year stood at 7.7 percent.

“With this, we are on track to achieving the government’s growth target of 6.5 to 7.5 percent for 2022. Given the latest GDP outturn, our economy needs to grow by 3.3 to 6.9 percent in the fourth quarter,” he said.

The PSA reported that all major industries improved their performance in the third quarter of 2022 compared to the same period last year, with agriculture, forestry and fishing growing by 2.2 percent; industry, rose to 5.8 percent; and services, up by 9.1 percent.

Services contributed 5.8 percentage points to the 7.6 percent GDP growth in the third quarter, followed by industry which shared 1.6 percentage points, and agriculture, forestry and fishing at 0.2 percentage points.

By industry, wholesale and retail trade, repair of motor vehicles and motorcycles contributed 1.9 percentage points to the GDP growth in July to September period, followed by financial and insurance services at 0.77 percentage points and construction at 0.76 percentage points.

Compared to last year, the sector of accommodation and food service activities expanded by 40.6 percent, which is the largest across industries. Transportation and storage also improved by 24.3 percent and construction increased by 12.2 percent.

“This economic performance largely benefitted from the further easing of mobility, including the resumption of face-to-face classes, which boosted consumption among Filipinos,” Balisacan said.

The NEDA chief added that the relaxation of borders and simplifying travel protocols supported the recovery and growth of local tourism and other sectors.

In terms of spending, household final consumption expenditure is the largest contributor to GDP in the previous quarter at 5.9 percentage points, exceeding the share of construction at 1.5 percent percentage points, durable equipment at 0.7 percentage points, and government final consumption expenditure at 0.1 percentage points.

In relation to the above news, President Ferdinand “Bongbong” Marcos, Jr. recently visited Cambodia and there he invited the nation’s business leaders to invest in the Philippines. Posted below is an excerpt from the report of GMA Network news. Some parts in boldface…

“We would like to invite at the very least, for you, to have a look at the opportunities that are available. And finally I suppose at some point, since we are not so far away, to come and we will explain to you exactly what we have done and why we have done it and where we have arrived in that process of transforming the economy,” Marcos told business leaders during a roundtable meeting.

“I do not talk about recovery of the economy, I talk about transformation of the economy because the new economy is going to be different from everything that we did in 2019. And so this is what we are looking forward to and I hope to see you all in the Philippines soon,” he added.

Let me end this piece by asking you readers: What is your reaction to this recent announcement about the state of the Philippine economy? Do you look forward to a more prosperous year in 2023? Are you planning to open a new business soon? If you are an investor, are you confident about investing in the stock market and in companies?

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

+++++

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

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

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

carlocarrasco

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

+++++

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

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

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

carlocarrasco

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

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

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

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

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

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

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

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

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

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

If you truly believe in Lord Jesus, the Holy Spirit and God the Heavenly Father wholeheartedly and you continue to be faithful (not religious), you should be aware that Christians are meant to stand united with Israel, love the Jewish people and pray for the peace of Jerusalem. You can do your part supporting Israel by donating to Christians United for Israel (CUFI). Do not forget to read the Holy Bible, then pray in tongues to the Lord in the privacy of your room with the door shut.

Always be the fearless and aggressive church of Lord Jesus! Always stand in support of Israel and pray for President Marcos and all the other government officials who recently took office. Pray also for Israel constantly.

In ending this I Love Israel piece, posted below are Israel-related videos for your viewing pleasure and enlightenment.

+++++

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

NBI agents apprehend investment scam suspect in Parañaque City

NBI agents apprehend investment scam suspect in Parañaque City

carlocarrasco

Are you a victim of an investment scam? Recently in the City of Parañaque, agents of the National Bureau of Investigation (NBI) arrested an investment scam suspect who allegedly deceived someone into investing over one million Pesos into a poultry business that failed to materialize, the Manila Bulletin reported.

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

A man who allegedly duped a person to invest P1.5 million in a poultry business that did not materialize has been arrested by the National Bureau of Investigation (NBI) in Paranaque City.

In a statement, the NBI identified the suspect as John D. Bombita who was arrested last July 4 by agents of the NBI’s Bulacan District Office (NBI-BULDO) at a coffee shop. Seized from Bombita was the P200,000 entrapment money he received from his victim.

“Subject Bombita was presented for inquest proceedings before the Department of Justice (DOJ) for estafa under the Revised Penal Code,” the NBI said

It said the complainant met Bombita in March 2020 when an offer was made to invest P1.5 million in a poultry farm to be set up in Talugtug, Nueva Ecija. The suspect introduced to the complainant Ramil Bautista, the alleged project manager.

The complainant, the NBI said, was assured that the poultry business would be operational in six months after the payment of P1.5 million to Bombita. The complainant paid the full amount in tranches, it said.

“Seven months later, Subject Bombita called an emergency meeting with the investors and introduced a certain Ulysses F. Barcial as the new person in charge of the project because Ramil Bautista took away the money intended for the Poultry project and assured the investors that the Poultry project will move forward. On May 22, 2021, a ground breaking ceremony was conducted to show that the construction of the poultry will still push through,” the NBI said.

“Sometime in April 2022, Subject Bombita called the complainant and asked for P100,000 for the payment of building permit of the three (3) Poultry Vent Tunnel. The complainant told the subjects that he can only pay P50,000. After a month, the complainant was informed that the payment for the building permit was increased to P200,000. The complainant was threatened that if he failed to pay the said amount his investment of P1.5 million will be forfeited,” it said.

Let me end this piece by asking you readers: What do you think about this latest news development? Has anyone out there tried to convince you to pour a lot of their money into a project or venture that lacked credibility?

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

+++++

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

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

I Love Israel: Joint Economic Commission (JEC) established by Israel and the Philippines

I Love Israel: Joint Economic Commission (JEC) established by Israel and the Philippines

carlocarrasco

Trade between Israel and the Philippines could improve and help develop each other economically in the years to come as the two nations strengthened their ties further by establishing the Joint Economic Commission (JEC), according to a recent report by BusinessWorld.

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

THE Philippines and Israel said they formed a Joint Economic Commission (JEC) that will explore pathways to improving trade.

In a statement on Thursday, the Department of Trade and Industry (DTI) said Trade Secretary Ramon M. Lopez signed a memorandum of understanding (MoU) with Israel Economy and Industry Minister Orna Barbivai in Jerusalem on June 7 that created the JEC.

“The MoU seeks the establishment of a bilateral consultative mechanism that will develop and strengthen trade, enhance investments, and advance economic ties between the Philippines and Israel,” the DTI said.

“In establishing a JEC, the two countries agree to exchange information on economic issues, identify and implement cooperative projects, organize consultations, missions, and official visits and enhance cooperation and linkages with their respective private sector,” it added.

The DTI said the MoU will seek to explore industries where the two countries can collaborate with a view towards diversifying trade and investments.

He added that priority sectors for promotion include agribusiness/agriculture production, energy efficiency technologies and renewable energy, infrastructure and public-private partnership (PPP) projects in infrastructure, real estate development, logistics, artificial intelligence, information technology and business process management (IT-BPM) including shared services, electronics manufacturing, and digital infrastructure.

Mr. Lopez told reporters via Viber that the initial investments from the investment promotion and protection agreement (IPPA) between the Philippines and Israel could bring around $150 million in investment in 2022.

“Early harvest could be around $150 million this year,” Mr. Lopez said.

Also signed on June 7, the IPPA provides the framework for a closer investment relationship between Israel and Philippines. It also specifies investment protection elements such as national treatment, most favored nation treatment, free transfers, rules-based expropriation and compensation, and investor-state dispute settlement.

The DTI also recently signed an MoU seeking to strengthen cooperation with the Israel Innovation Authority.

This newest development is undoubtedly critical as both the Philippines and Israel share the same goal of recovering from the damage of the COVID-19 crisis and emerging stronger economically and socially. The JEC between the two nations is something we must be thankful to God for.

If you truly believe in Lord Jesus, the Holy Spirit and God the Heavenly Father wholeheartedly and you continue to be faithful (not religious), you should be aware that Christians are meant to stand united with Israel, love the Jewish people and pray for the peace of Jerusalem. You can do your part supporting Israel by donating to Christians United for Israel (CUFI). Do not forget to read the Holy Bible, then pray in tongues to the Lord in the privacy of your room with the door shut.

Always be the fearless and aggressive church of Lord Jesus! Always stand in support of Israel!

In ending this I Love Israel piece, posted below are Israel-related videos for your viewing pleasure and enlightenment.

+++++

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