Tag: jobs

Department of Tourism (DOT) unveils ambitious plan to establish Philippines as a major tourism player in Asia within five years

Department of Tourism (DOT) unveils ambitious plan to establish Philippines as a major tourism player in Asia within five years

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Tourism in the Philippines looks bright right now. Recently, the MUEG Bank Ltd. Of Japan expressed that the tourism sector of the Philippines could double this year with the return of Chinese tourists as the factor. For its part, the Department of Tourism (DOT) announced the scrapping of mask wearing and proof of vaccination as requirements in the nation’s tourism enterprises.

Recently, the DOT announced its ambitious plan to transform the nation into a major player in international tourism (specifically within Asia) in the next five years, according to a Philippine News Agency (PNA) news article.

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

The Philippines targets to become a tourism powerhouse in Asia in the next five years, Tourism Secretary Christina Frasco said Wednesday.

At the unveiling of the 2023-2028 National Tourism Development Plan (NTDP) during a tourism stakeholders’ summit in Manila, the Department of Tourism (DOT) vowed to “establish a Philippine tourism industry anchored on Filipino culture, heritage and identity, which aims to be sustainable, resilient and competitive in order to transform the Philippines into a tourism powerhouse in Asia.”

The roadmap identified seven measures to achieve this goal, with improving tourism infrastructure and accessibility as one of the priorities.

“The overall target is the transformation of the tourism industry of the Philippines, which is why we have embarked on the objective of not just focusing on the promotion of tourism but more importantly on the development of industry from the ground up focusing not just on our key destinations, but also on our emerging and lesser known destinations,” Frasco said.

“We can only truly transform the Philippine tourism industry if we address the prevailing challenges that we face continually across our regions,” she added.

On connectivity, Frasco said DOT is working with the Department of Transportation to negotiate more routes for air and sea travel.

Under the NTDP, Frasco said DOT would focus on digitalization; enhancement of the overall tourist experience by incentivizing sustainable travel and improving safety and security in destinations, among others.

The agency would also tap local government units in developing more tourist sites and linking emerging ones to key destinations.

She said the government will increase investments in creating “high-value” tourism experiences and announced the May 2023 launch of the Philippine Experience.

The program, which aims to highlight heritage and culture unique to every region in the country, will be piloted in Davao, Ilocos Region, Bicol and Calabarzon.

The program, she said, would include a three to five-day tour packages allowing tourists to experience both well-known and lesser-known destinations in said regions.

Frasco presented the salient points of the NTDP before the country’s top tourism players. The roadmap was first previewed during the Tourism Coordinating Council (TCC) meeting convened in February and would be submitted to President Ferdinand R. Marcos Jr. for approval within the month.

“This NTDP will serve as a blueprint for the strategies on how the Department of Tourism intends to continue and to grow the impact of tourism upon our economy in the next few years. This will be the guidebook of the industry where we put in place mechanisms for sustainability for many many years to come,” Frasco said.

‘Rosy prospects’ – Frasco noted that, even prior to the finalization of NTDP, the DOT has closely collaborated with tourism stakeholders in carrying out the President’s vision through its various plans and programs, citing the most recent awards and nominations received by the Philippines and its tourism destinations.

The DOT has yet to reveal arrival targets for the next five years but earlier said it seeks to reach 4.8 million in foreign visitors by end of 2023.

This follows the positive momentum set in 2022, which successfully closed with 2.65 million visitors that translates to PHP214 billion or roughly USD4 billion in estimated revenues.

“The momentum for recovery and growth has begun. We’ve eased restrictions. We’ve continued to aggressively promote our destinations through the DOT’s constant and unyielding presence in various exhibits in the Philippines and all over the world. And people are traveling now, and are traveling with a vengeance,” Frasco said.

“By promoting the Philippines through the biggest international tourism and trade fairs across Asia and Europe, we are re-introducing the Philippines to the world, and bringing no less than the best of the best of the country and the Filipino people,” she added

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the DOT and all the strategic partners will be able to fulfill all the adjustments needed to transform the Philippines into a major tourist destination? What would you suggest to the DOT to make the tourism experience in the country more efficient and more interesting? Do you think it is time for the DOT to start recognizing local conventions or special events (examples: ToyCon, Trans Sport Show) and start encouraging foreign tourists to attend them?

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

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

Philippines PC sales of 2022 4th quarter falls down 48.9%

Philippines PC sales of 2022 4th quarter falls down 48.9%

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Were you able to buy a brand new laptop or desktop over the past six months? This question I asked because according to a news report by BusinessWorld, personal computer (PC) sales in the Philippines decreased by almost 49% in the 4th quarter of 2022. There is an ongoing downward trend that cannot be ignored.

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

The personal computer (PC) market in the Philippines had 464,000 units in the fourth quarter of 2022, representing a 48.9% decrease compared to the same period the previous year, according to the International Data Corp. (IDC).

The PC market also declined 18.5% from the previous quarter.

“The market declined across notebooks and desktops,” IDC Philippines Associate Market Analyst Jeeno Velasco said in a statement on Monday.

“Household consumption was largely fulfilled and refocused on other spending activities geared toward the holiday season.”

He also noted that macroeconomic pressures further drove inventory rationalization among vendors.

Top five PC companies in the Philippines during the quarter were Acer Group, Lenovo, HP Inc, ASUS, and Dell Technologies.

The commercial space has not bounced back, as reported by the market intelligence company, due to weakened government and enterprise sectors which declined 44.7% and 25.2% from the previous quarter, respectively.

It noted that the national government has not announced any major plans involving information technology spending, while the enterprise segment is more reluctant to procure more units due to its negative financial outlook.

“Demand for desktops and the influx of company workers required to report back to work should have increased shipments for the corporate sector, but this didn’t pan out,” Mr. Velasco said.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think economic factors like high inflation, rising interest rates and a potential recession overseas will keep the local PC market down for the rest of the 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  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

BIR targeting online sellers

BIR targeting online sellers

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If you have been engaging on selling items or services online, you should be aware that the Philippines’ authority on taxation the Bureau of Internal Revenue (BIR) is constantly watching you and it is seeking ways to tax you, according to a BusinessWorld news report. Already the BIR has been communicating with the e-commerce platforms.

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

THE BUREAU of Internal Revenue (BIR) is looking to collect taxes from online sellers on e-commerce platforms more efficiently.

BIR Commissioner Romeo D. Lumagui said it is difficult to monitor taxes on individual online sellers on e-commerce platforms.

“We’re in constant communication with the platforms, because it’s a challenge to monitor. We’re thinking of ways to approach it because if we look at individual online sellers, it’s a bit difficult. It’s a challenge,” he told reporters on Thursday evening.

Mr. Lumagui said the BIR is prioritizing ways to better collect taxes from online sellers and other new platforms this year.

The pandemic forced many entrepreneurs to shift to online selling using e-commerce platforms like Shopee and Lazada, as well as social media platforms such as Facebook, Instagram and Tiktok.

As of 2022, the Department of Trade and Industry (DTI) estimated there are around two million entities doing business as online sellers.

In 2021, the digital economy contributed 9.6% to the country’s gross domestic product (GDP), or about P1.87 trillion. DigiPinas, the multi-sectoral initiative led by UBX Philippines Corp., earlier said the Philippine digital economy can grow to as much as $150 billion or about P8.3 trillion in the next decade.

Meanwhile, Mr. Lumagui said the BIR will tap social media influencers to help educate the public on the importance of paying taxes.

“They have reach and I think that one way of making people comply with tax obligations is to educate the people since tax is a very complicated topic not easy to understand,” he said, adding the BIR will schedule a dialogue with them.

Mr. Lumagui said the BIR will continue its efforts to collect taxes from social media influencers, since they’re earning income. He noted there are already some who are undergoing tax audits.

“What we want is to dialogue with them that these are your obligations as social media influencers, you’re earning from whatever you’re doing, so this is your responsibility as income earners,” he said.

The BIR said it collected around P44.6 billion worth of tax from online content creators and retail sales at the end of 2021.

Let me end this piece by asking you readers: What is your reaction to this recent development? If you have been selling products or services online for the last twelve months, do you think the BIR’s move with taxing your business will negatively affect Philippine e-commerce as a whole? Have you set aside enough money for potential taxation by the BIR? What is the one thing about online selling that made you stay away from selling through physical establishments like a store?

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

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

I Love Israel: 65 years of Israel-Philippines friendship

I Love Israel: 65 years of Israel-Philippines friendship

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The month of February 2023 is indeed exceptional. In my experience, I had the greatest overseas trip of my life as I went to Israel on a pilgrimage tour with my local church. There, I witnessed the Holy Bible come to life at the many sites in the Holy Land. As such, I am grateful to the Lord and will always be faithful to Him.

On another significant matter, February 2023 also marked the 65th year of Israel-Philippines friendship which was celebrated a few weeks back according to a news article by the Philippines News Agency (PNA). For the newcomers reading this, Israel and the Philippines have a deep relationship with each other and lots of cooperation has been done.

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

The Philippines and Israel celebrated 65 years of friendship on Sunday, marking an already warm and historic relations with increased interactions in the areas of agriculture, commerce, and development.

In the past 12 months alone, the two nations signed various deals — from a memorandum of understanding to initiate joint activities on trade and investment to a cooperation agreement in technological innovation, research, and development.

The “milestone” Philippine-Israel Investment Promotion and Protection Agreement was also concluded in June 2022, signaling the two nations commitment to create environment for investments in water management, agriculture, cybersecurity, defense industry, smart transportation, manufacturing, and diamond industry development, among others.

Envisioning an even closer economic relations in the years beyond, Israel Ambassador to Manila Ilan Fluss sees the field of innovation as an area the two countries could further develop.

“My vision is that we will establish bridges of innovation in technology between Israel and the Philippines,” he told the Philippine News Agency in a recent interview.

“For this, we’re working a lot on both on two levels, one on the startup community and how we can get an exchange between startups and to get Philippine startups enter into Israel,” he added.

As an innovation hub, Fluss believes Israel could support the Philippines in building a stronger startup industry through training and guidance in “internationalizing” Filipino startups.

In 2022, there were over 6,000 startups active in Israel, making the country a world leader in startups per capita.

Israeli firms, on the other hand, could enter the Philippines and provide solutions that address challenges unique to the country.

“[The Philippines] could help Israeli startups who are usually focused more on the developed markets, enter into the Philippines, adjusting what they’re doing to the challenges in the Philippines which are different than Europe and the United States,” Fluss said.

“So we want to help them diversify and enter the Philippine markets. So this is a very major effort that we are doing in the embassy,” he added.

Israel and the Philippines’ friendship is founded on deep historical and moral connections, with Manila opening its doors to 1,300 Holocaust refugees in late 1930s even before Israel became a state.

The Philippines was one of the 33 countries to vote in favor of a United Nations resolution in 1947 that created the State of Israel.

65 years of not only friendship but strong cooperation and commitments between Israel and the Philippines clearly shows that the two nations were chosen by God to be together. Be thankful to God for all the breakthroughs and the continuing progress of Israel-Philippines ties. Israel-Philippines ties are essential!

To my fellow Filipinos reading this, I encourage you to accept the truth that Israel is the land God designated specifically for the Jewish people (read Genesis 35:10-12) and His command must be followed by all. If you want to be blessed further by the Lord, do so by loving and blessing the Jewish people (Genesis 12:1-3). I did my part when I was in Israel.

If you truly believe in Lord Jesus, the Holy Spirit and God the Heavenly Father wholeheartedly and you continue to be faithful, you should be aware that Christians are meant to stand united with Israel and love the Jewish people no matter what. You can do your part supporting Israel by donating to Christians United for Israel (CUFI). Do not forget to read the Holy Bible, then pray in tongues to the Lord in the privacy of your room with the door shut.

Always be the fearless and aggressive church of Lord Jesus! Always stand in support of Israel and pray for the peace of Jerusalem.

In ending this I Love Israel piece, posted below are Israel-related videos for your viewing pleasure and enlightenment. I encourage you all to watch them.

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

House of Representatives approve Marcos-backed VAT refund for outbound foreign tourists bill on 3rd and final reading

House of Representatives approve Marcos-backed VAT refund for outbound foreign tourists bill on 3rd and final reading

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It looks like the Philippines will make a major step forward in the highly competitive field of tourism as the House of Representatives recently approved on 3rd and final reading the proposal on granting Value Added Tax (VAT) refund for outbound tourists, according to a GMA Network news report. The newly approved bill is a measure backed by President Ferdinand “Bongbong” Marcos, Jr.

Having been to Israel recently, I noticed that the VAT refunds for foreign tourists who are about to leave the country is the norm.   

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

The House of Representatives on Monday approved on third and final reading a bill granting Value Added Tax (VAT) refund for outbound tourists, a bill backed by President Ferdinand Marcos, Jr.

House Bill 7292 earned 304 “yes” votes, four “no” votes, and zero abstention.

Under the proposed measure, tourists will be eligible for a VAT refund on goods purchased from accredited retailers in the Philippines as long as such goods are taken out of the country within 60 days from the date of purchase and the value of goods purchased per transaction amounts to at least P3,000.

The bill also authorizes the Secretary of Finance to adjust the P3,000 threshold, taking into account the following indicators: administration costs in processing refunds; consumer price index; and other market conditions, upon the recommendation of the Secretary of Tourism and the Commissioner of Internal Revenue.

“This measure [is being passed] to adopt best practices in VAT refund schemes among Asia Pacific tourism destinations and expand the country’s competitiveness among its peers and neighboring countries,” the committee report on the measure read.

The bill defines a “tourist” as a foreign passport holder who is a non-resident individual not engaged in trade or business in the Philippines.

House ways and means panel chairperson Representative Joey Salceda earlier said the measure will generate P10 billion to P40 billion worth of increased sales for local suppliers.

Salceda was one of the principal authors of the measure, alongside House ways and means panel vice chairperson Mikaela Suansing of Nueva Ecija who chaired the technical working group drafting amendments to the original proposed bill.

“Generally, for every P1 refunded, the tourist spends an additional 1.5 pesos. That will create an additional twenty to eighty thousand jobs, and will also improve our gross international reserves,” Salceda said.

The above report ended stating that the newly approved measure was recommended to the Marcos administration by the Private Sector Advisory Council (PSAC), a group composed of business leaders and industry experts providing technical advice to the President. Take note that last year, the Philippines attracted over 2.6 million foreign tourists and generated P200 billion worth of tourism revenue.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the newly approved measure will pass in the Philippine Senate soon? Do you think the measure will make the Philippines more competitive in international tourism?

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

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

Muntinlupa City’s Top 10 taxpayers lauded

Muntinlupa City’s Top 10 taxpayers lauded

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Recently in the progressive city of Muntinlupa, the Top 10 taxpayers of the city were lauded for their tremendous economic contributions which played a key role in local recovery from the downturn of the COVID-19 crisis, according to a Manila Bulletin news report. They were commended by Mayor Ruffy Biazon during the 28th cityhood anniversary celebrations on March 1.

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

Muntinlupa Mayor Ruffy Biazon commended the top 10 taxpayers and the business community for helping in reviving the local economy especially after the onslaught of the Covid-19 pandemic.

During the 28th Muntinlupa cityhood anniversary on March 1, the top 10 taxpayers were recognized.

They were Filinvest Alabang, Inc.; Ford Group Philippines, Inc.; Filinvest Land Inc. – Festival Supermall; Ayala Land Inc.; Filinvest Reit Corporation; Meralco Business Center; Amkor Technology Philippines; Capital One Philippines Support Services Corporation; GenPact Services LLC Philippines, Inc.; and Insular Life Assurance Company Ltd.

In his State of the City Address, Biazon said Muntinlupa is “steadily bouncing back” from the effects of the Covid-19 pandemic, which crippled the economy and resulted in people losing their jobs.

“Our cityhood journey, and now our road to pandemic recovery, underscores the importance of working together, and shows what we can do when we are focused towards a more liveable and more responsive city for Muntinlupeños,” Biazon said.

Taxpayers, including business establishments, have fueled the city’s economic recovery from the pandemic, posting P6.033 billion in total revenues with 101.09 percent collection efficiency.

In addition, the city government recorded 12,232 registered businesses as of January 2023, up 59 percent from 7,651 registered businesses in the same period last year.

Let me end this piece by asking you readers: If you are a Muntinlupa City resident, what is your reaction to this development? Are you thankful to the mentioned companies that made the Top 10 list of taxpayers? Are you confident with the City Government’s role with the local economy?

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

Showing proof of vaccination and wearing of masks no longer required in Philippine tourism enterprises

Showing proof of vaccination and wearing of masks no longer required in Philippine tourism enterprises

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Having been to Israel recently where locals and tourists are no longer burdened by COVID-19 related restrictions and requirements, I noticed that the Philippines is behind in terms of freedom (from COVID-19 restrictions) on the part of people, businesses and tourists. In short, the Philippines still has yet to fully move on to post-pandemic life.

As the Philippines really needs to attract more tourists from overseas this year and fully revive the tourist industry as a whole, the Department of Tourism (DOT) announced recently the scrapping of mask wearing and proof of vaccination as requirements in tourism enterprises around the country, the Manila Bulletin reported. In other words, tourists and tourism-related business joints will have lesser COVID-19 hassles to deal with.

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

As the country’s tourist destinations become more open for travelers, showing proof of vaccination and wearing masks are no longer required in tourism enterprises, the Department of Tourism (DOT) said on Monday, March 6.

Supporting the “national government’s liberalization of the COVID-19 restrictions in the country”, the DOT released the Memorandum Circular (MC) 2023-0002 to further ease health and safety guidelines governing the operations of tourism establishments. According to Tourism Secretary Christina Garcia Frasco, the MC is a follow-through of the efforts they started last year to assist the economic hardships of tourism stakeholders by issuing regulations pushing for the opening of the country to tourism.

“This latest issuance on the relaxed health and safety guidelines for tourism establishments reinforces the Department of Tourism’s commitment towards addressing the economic hardships of the tourism industry brought about by the lockdowns and restrictions of the pandemic,” she noted.

“Our country is open for tourism, and that we are keeping up with global practices on tourism operations that have already opened up worldwide,” she went on.

The tourism department already made similar issuances last year through its Office of Tourism Standards and Regulation (OTSR) and regional offices following the signing of Executive Order No. 7, which mandated the voluntary wearing of mask in indoor and outdoor settings.

It can be recalled that the OTSR issued Memorandum 2022-509 in November 2022 reiterating the voluntary wearing of face masks and the waning requirement on the presentation of proof of full vaccination in tourism enterprises.

Last month, on the other hand, the Department of Trade and Industry Safety Seal Secretariat announced the discontinuance of the Safety Seal Certification Program, the voluntary certification scheme affirming that an establishment is compliant with the minimum public health standards set by the government and uses or integrates its contact tracing with staysafe.ph.

Through DOT MC 2023-0002, the DOT ordered the lifting of the previous administration’s earlier requirement for tourism establishments to install plastic, acrylic barriers, and dividers in designated areas, and likewise ordered the removal of signages, visual cues, and other installations on mandatory protocols, which have since been liberalized by the national government.

“In adherence to the country’s policy shifts on minimum public health standards, the DOT also announced that it shall no longer issue the PH Safety Seal and WTTC Safe Travels Stamp to tourism enterprises found compliant to guidelines set in accordance with Joint Memorandum Circular No. 21-01 issued by the DOT and other national government agencies on the Safety Seal Certification Program, and Memorandum Circular 2022-003, respectively,” it was disclosed.

Let me end this piece by asking you readers: What is your reaction to this new development? Do you think the latest moves by the DOT will make the Philippines a more convenient and friendlier place for both local and foreign tourists? Do you think that the Department of Health (DOH) should stay away from the tourism industry and let the DOT handle all the COVID-19 related matters? If you are managing a business trying to attract tourists, what is the one thing about COVID-19 rules that harms your business the most?

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 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/

President Marcos says special powers not needed to curb inflation

President Marcos says special powers not needed to curb inflation

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In recent times, inflation has been strong in the Philippines and no less than the Bangko Sentral ng Pilipinas (BSP) confirmed this as it made its February 2023 inflation forecast. In relation to the high inflation, President Ferdinand “Bongbong” Marcos stressed that special powers are not needed to combat inflation, 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…

There is no need to ask for special powers to ease inflation, President Ferdinand R. Marcos Jr. said Wednesday, noting that several interventions are already in place to manage the prices of basic commodities.

Marcos made the remark a day after the Bangko Sentral ng Pilipinas (BSP) reported that the country’s headline inflation could surpass the 9 percent level in February because of high prices of cooking gas and key food items.

“I do not think that it is necessary to ask for special powers,” he said in a chance interview on the sidelines of an event at the Rizal Park, when asked if he is considering asking Congress to grant him special powers to curb inflation.

“I already have the power to declare an emergency and to control the prices of commodities. So, I don’t think there’s any need for more than that. That is efficient,” he added.

On Tuesday, the BSP said the inflation rate in February may fall within the range of 8.5 to 9.3 percent, citing the upside risks from higher prices of cooking gas and food items such as pork, fish, egg, and sugar.

Despite the BSP’s latest forecast, Marcos remained bullish that consumer prices would go down, saying his administration is exhausting all efforts to boost the supply of agricultural products.

“The other elements of inflation hindi natin masyado ma-control, kaya meron tayong ginagawang ganito para makabawi naman doon sa pagtaas ng presyo (We could not control the other elements of inflation, that’s why we are making a way to address the rise in prices of basic commodities),” he said.

Several lawmakers, including House Speaker Martin Romualdez, have expressed openness to granting Marcos special powers to curtail inflation.

In January, inflation accelerated further to 8.7 percent from 8.1 percent posted in December 2022.

Let me end this piece by asking you readers: What is your reaction to this recent development? Are you confident that the national authorities have what it takes to ease inflation without granting the President special powers? Do you see the current inflation as a temporary problem or as a longer lasting problem?

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

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

Muntinlupa Mayor Biazon declares city steadily bouncing back

Muntinlupa Mayor Biazon declares city steadily bouncing back

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Recently in the progressive city of Muntinlupa, Mayor Ruffy Biazon stated that the city is steadily bouncing back from the downturn of COVID-19 as he delivered his State of the City Address during the 28th cityhood celebration, according to a Manila Bulletin news report. The mayor also shared updates about the city government’s programs.

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

Mayor Ruffy Biazon delivered his first State of the City Address on Muntinlupa’s 28th cityhood anniversary on March 1 and said the city is bouncing back from the effects of the Covid-19 pandemic.

“The pandemic has been a true test of our strength, even of our faith. It has been—and for some, still is—a difficult time, but the good news is that we are steadily bouncing back. We are steadily recovering from the effects of the crisis caused by the pandemic,” he said.

One indicator, he said, is that the number of registered businesses in Muntinlupa increased to 12,232 as of Jan. 31 this year, up by 59 percent from 7,651 in January 2022.

Muntinlupa became a highly urbanized city on March 1, 1995 when then President Fidel Ramos signed Republic Act 7926 or the Charter of the City of Muntinlupa.

According to Biazon, in 2022, the Muntinlupa City government collected P6.03 billion in total revenues, exceeding the target income for the year with 101.09 collection efficiency.

“This means we have enough collections to fund our pandemic recovery programs and projects,” he said.

Under his administration, he focused on reviving the local economy and in strengthening health services and education.

“It is important to mention that Congressman Jimmy Fresnedi’s leadership paved the way for the progressive and developed Muntinlupa that it is today,” he said.

He added, “Our cityhood journey, and now our road to pandemic recovery, underscores the importance of working together, and shows what we can do when we are focused towards a more livable and more responsive city for Muntinlupeños.”

Biazon ran and won as mayor in the May 2022 elections, and launched his 7K Agenda containing the blueprint of his administration.

HEALTH – In 2022, he said, the city government continued its immunization program against Covid-19. The city achieved 136 percent vaccination rate of the eligible target population, or 580,614 individuals, while 80 percent have received their booster shots. In addition, 80 percent of the target population got immunized under the Chikiting Bakunation Program.

The Putatan Health Center was transformed into a Super Health Center that expanded medical and diagnostic services, and operating hours up to 10 p.m. The health center provides basic consultation, minor surgery, laboratory and radiology services, ultrasound for pregnant women and medicine.

The Biazon administration also launched the Womb to Work Program aiming to provide programs for children.

Services at the city-run Ospital ng Muntinlupa were improved including the construction of a new annex building that increased the facility’s bed capacity from 200 to 250.

“I’m also glad to share with you all that we can look forward to the Ospital ng Muntinlupa being an accredited Malasakit Center in the near future. This program, in partnership with the national government, will serve as a one-stop hub for requesting assistance for medical services and for providing indigent patients access to free medicines and quality health care and medical intervention,” said Biazon.

EDUCATION – Biazon thanked the Schools Division Office for preparing for the return of nearly 89,000 students to face-to-face classes. He turned over hygiene kits to the office as part of the full implementation of face-to-face classes in public schools.

The city government also launched programs such as the Muntinlupa Reading Book Club to encourage reading among the youth.

Under the city’s scholarship program, 82,000 students have received financial assistance. Of the P450 million budget for scholarship programs, 85 percent of it is for elementary and high schools students. The city also has about 3,000 college and university scholars.

The Doctor of Medicine Program of the Pamantasan ng Lungsod ng Muntinlupa and Ospital ng Muntinlupa was also launched.

LIVELIHOOD – Biazon said Muntinlupa was recognized as the fifth most competitive economy among 33 highly urbanized cities in the Philippines by the Department of Trade and Industry  Competitiveness Bureau.

Under the Dagdag Puhunan, or zero-interest loan program of the city government, more than P20 million was provided to 7,533 entrepreneurs

This year, he said, the city government will launch the SIKAP loan or startup capital loan for those who want to start their own business.

He also thanked business owners who have complied with City Ordinance 96-80 that mandates that at least 70 percent of their total workforce should be from Muntinlupa. He is requesting for the amendment of the ordinance to give incentives to businesses that have 100 percent Muntinlupa resident employees.

The mayor also thanked the Department of Agriculture, led by President Ferdinand Marcos Jr., for holding the Kadiwa program in Muntinlupa.

To find more details from the mayor’s speech, click https://mb.com.ph/2023/03/02/biazons-soca-muntinlupa-steadily-bouncing-back/

Let me end this piece by asking you readers: If you are a Muntinlupa City resident, what is your reaction to this development? Did the mayor deliver all the relevant details in his speech? What do you think the City Government should do to strengthen the local economy to pre-pandemic levels?

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

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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.

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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/.