jobs – Page 12 – Author Carlo Carrasco

Citigroup sees Philippine economy expanding by about 6% this year

January 28, 2025January 21, 2025carlocarrasco

In the perspective of Citigroup, Inc. (Citi), the economy of the Philippines will grow this year by around 6%, pointing to the growth of the business process outsourcing (BPO), according to a BusinessWorld news report.

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

CITIGROUP, INC. (Citi) expects the Philippine economy to expand by around 6% this year, partly driven by sustained growth in the business process outsourcing (BPO) sector.

“We expect the growth in 2025 to stay within the 6% handle,” Citi Asia South Head Amol Gupte said in an online briefing on Monday.

Citi’s forecast would be at the low end of the government’s 6-8% target for the year.

“The Philippines will continue to benefit from [the BPO industry] and will create a lot of jobs. On moving up the value chain on global capability centers, countries like the Philippines will play a very large role along with India,” Mr. Gupte said.

The information technology and business process management (IT-BPM) industry ended 2024 with $38 billion in export revenue, and 1.82 million full-time employees.

Under the Philippine IT-BPM Industry Roadmap, the target is to grow into a $59-billion industry and increase the full-time employee count to 2.5 million by 2028.

“So, I think it’s really important that the Philippines, as it thinks about the BPO industry, moves up the value chain so that it retains and bring more middle-office kinds of jobs beyond the voice jobs that exist in the tens of thousands,” Mr. Gupte said.

However, the rise of artificial intelligence (AI) could be a risk to the IT-BPM sector in the Philippines.

“There’s also the risk to that in terms of what AI will do to that industry and whether that will reduce jobs,” Mr. Gupte said.

Meanwhile, Citi South Asia Corporate Banking Head K Balasubramanian said sustained economic growth ensures that Philippine banks are well-positioned to continue to generate profits.

“I think the financial profile of the Filipino banks continues to be very strong, and with 6% growth I think they are well capitalized to look at the opportunities ahead,” he said.

As of end-September 2023, the Philippine banking system’s net profit rose by 6.4% to P290 billion as both net interest and non-interest income grew.

“We just saw the upgraded Philippine sovereign rating that happened in the fourth quarter of last year. And if you look at the impact of that on the Republic of Philippines, as well as the state-owned banks of the Philippines, I think that’s going to be crucially positive because we are now up to BBB+,” Mr. Balasubramanian said.

“(This) means that the ability to access international financing is going to be better and even the cost of the access is going to be better than what it was in the past.”

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think Citgroup is correct about its research on the Philippine economy? Do you think the BPO industry will contribute a lot to the economic growth of the nation this year?

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

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

President Marcos congratulates Trump, looks forward closely to working with him

January 24, 2025January 22, 2025carlocarrasco

Through social media, Philippine President Ferdinand “Bongbong” Marcos, Jr., congratulated US President Donald Trump (whose 2^nd term has started officially) and expressed that he is looking forward to working with him in relation to Philippines-America ties, according to a news article by the Philippine News Agency (PNA). It should be remembered that Marcos and Trump previously talked over the phone.

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

President Ferdinand R. Marcos Jr. extended his congratulations to newly inaugurated United States (US) President Donald Trump following his return to office, emphasizing the strength of the Philippine-American alliance and its role in regional security.

“Congratulations to POTUS @realdonaldtrump and to the American people on another peaceful transfer of power in their Nation’s nearly 250-year history. I look forward to working closely with you and your Administration,” Marcos said in a statement posted on social media Tuesday.

Marcos underscored the enduring alliance between the Philippines and the US, stressing that it would continue to be a cornerstone for regional stability.

“The strong and lasting PH-US alliance will continue to uphold our shared vision of prosperity and security in the region,” he said.

The Philippines and the United States have long been allies, engaging in numerous joint military, economic, and diplomatic initiatives that now face ongoing regional challenges, including tensions in the South China Sea and broader Indo-Pacific security concerns.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think there will be breakthroughs with regards to the Philippines-America ties? Now that Rodrigo Duterte is no longer the President of the Philippines, do you think President Trump will be more motivated to have America collaborate more with Philippines economically and militarily? Do you think China will refrain from bullying Filipinos at sea once the Trump administration starts working closely with the Philippines?

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

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P500 million investment coming into Las Piñas City IT park

January 20, 2025January 10, 2025carlocarrasco

Recently in the City of Las Piñas, the newly certified IT (information technology) sector One Townsquare Place is about to receive a major investment of P500 million from an IT and business process management (IT-BPM) firm, according to a BusinessWorld news report.

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

AN information technology and business process management (IT-BPM) company is set to invest P500 million in One Townsquare Place, a recently proclaimed IT Center in Las Piñas City, the Philippine Economic Zone Authority (PEZA) said.

“The fully built IT Center will host companies in various IT-BPM services, with one prospective locator expected to employ more than 500 Filipinos and invest more than P500 million,” PEZA said in a statement on Wednesday.

On Dec. 20, President Ferdinand R. Marcos, Jr. issued Proclamation No. 765, which designated around 3,729 square meters of land in barangay Almanza Uno, Las Piñas City, as an IT Center.

“The approval of this new ecozone will boost Las Piñas City’s growth and employment in the National Capital Region,” PEZA said.

According to PEZA, the construction of the IT Center cost P1 billion. It has been fully developed since 2017.

Including IT Center, 28 economic zones (ecozones) have been proclaimed during the administration of Mr. Marcos. Eleven ecozones were proclaimed in 2023, while 17 were proclaimed last year.

Let me end this piece by asking you readers: If you are a resident of Las Piñas City, what is your reaction to this development? Do you think the P500 million investment into the IT center will make an impact on Las Piñas’ economy this year? Are you hoping that more IT firms will open new offices at the One Townsquare Place?

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

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

Stakeholders and analysts perceive VAT refund limit for tourists just right to ensure small businesses will benefit

January 3, 2025December 27, 2024carlocarrasco

As far as the analysts and tourism stakeholders are concerned, the minimum purchase requirement for non-resident tourists to qualify for the value-added tax refund is just right in relation to benefiting the small businesses, according to a BusinessWorld news report. There is, however, one dissenting opinion.

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

THE P3,000 ($51) minimum purchase requirement for nonresident tourists to qualify for a value-added tax (VAT) refund is “just right” to ensure small businesses benefit, analysts said.

President Ferdinand R. Marcos, Jr. recently signed into law Republic Act (RA) No. 12079, which allows tourists to claim VAT refunds on purchases worth at least P3,000 from government-accredited stores, in an effort to boost tourism receipts.

“The P3,000 is just right to benefit micro, small and medium enterprise (MSME) retailers and local products,” Philippine Retailers Association (PRA) President Roberto S. Claudio said. He said the purchase cap is kept to a minimum to benefit locally made products.

“I think it’s a good entry and good starting point. Some countries are still higher than P3,000 as well. I think we’re above the middle, so I think that’s a good place to be,” Tourism Congress of the Philippines President James M. Montenegro said via phone call.

Under RA 12079, the value of the locally bought goods from accredited stores must reach at least P3,000 per transaction, provided these goods are taken out of the country within 60 days of purchase.

“This law is primarily designed to boost tourist arrivals and expenditure. Hopefully, it will also increase the sales revenue of retailers,” Mr. Claudio said.

Mr. Montenegro said the minimum purchase amount could be adjusted in the future.

The threshold is subject to review and adjustment every three years by the Finance secretary, upon recommendation of the Commissioner of Internal Revenue, considering the inflation data from the statistics agency.

“I think the minimum rate is at par with our ASEAN [Association of Southeast Asian Nations] neighbors. If you look at the minimum amounts in other countries, it is almost the same,” Eleanor L. Roque, a tax principal at P&A Grant Thornton, told BusinessWorld.

The Philippines has joined other ASEAN countries with a tax refund program for nonresident tourists. The scheme has increased retail activity, particularly in sectors such as fashion, electronics and souvenirs.

In Malaysia, the minimum purchase is 300 ringgit ($67). Singapore allows tourists to spend at least S$100 ($74), while in Indonesia, it starts at 500,000 rupiah ($31).

“It is good to have a minimum amount as it limits the refund claim to valuable expenses. De minimis spendings are normally not considered for VAT refund as it is not administratively practical. In some cases, the cost will be more expensive than the amount being refunded,” Ms. Roque said.

She said the government should tap accredited international firms in the VAT refund processing, adding that the “government should take advantage of the track record and best practices of these known companies.”

Ms. Roque said the government should ensure the goods bought are really brought out of the country.

“Physical inspection of the goods when exiting the country should be strict to ensure that local buyers do not use tourists for availing themselves of the VAT refund,” she added.

However, Philippine Institute for Development Studies Senior Research Fellow John Paolo R. Rivera said the P3,000 threshold “may not be enough to significantly encourage higher spending among affluent tourists,” especially compared with ASEAN counterparts.

“A higher or more flexible threshold might align better with international best practices and encourage larger purchases,” he said.

Mr. Rivera also urged the government to simplify the VAT refund process, rather than make it “extra bureaucratic.”

Let me end this post by asking you readers: What is your reaction to this recent development? Do you consider the current purchase requirement for the VAT refund for foreign tourists a proper amount? Do you think foreign tourists will be receptive to the current standard for VAT refund of their purchases here in the Philippines?

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

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The newest polymer bank notes from the BSP

January 2, 2025January 2, 2025carlocarrasco

Recently the Bangko Sentral ng Pilipinas (BSP) unveiled the newest polymer bank notes which were described as crisp and capable of withstanding tough conditions, according to a news feature by the Manila Bulletin.

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

The familiar crinkle of a crisp paper bill, the faded ink from countless transactions, the subtle tear at the edge – these are the hallmarks of the Philippine piso as many know it. But come January, Filipinos will begin to experience a currency revolution.

The Bangko Sentral ng Pilipinas (BSP) is ushering in a new era with the first series of polymer banknotes, a move that signifies more than just a change in material. It’s a leap towards a more secure, sustainable, and hygienic future for the nation’s currency.

Imagine pulling out a banknote that feels smoother, almost plastic-like, and noticing intricate details that shimmer under the light. This is the promise of the new polymer piso.

These banknotes, designed to last longer and withstand the rigors of daily use, are imbued with advanced security features that make counterfeiting a near impossibility. Microprinting, tactile elements, and clear windows are just some of the technologies embedded within these notes, providing a robust defense against fraudulent activities and bolstering public confidence in the currency.

“We have the mandate of issuing the currency, and we always try to look for ways to improve our currency,” explains BSP Assistant Governor Mary Anne Lim. “In improving our currency, we consider the needs of our users in utilizing it, and also advances in technology when it comes to printing and using our banknotes.”

The shift to polymer addresses a critical concern in today’s world: hygiene. Paper banknotes, passing through countless hands, can harbor bacteria and viruses. Polymer notes, on the other hand, are less hospitable to these pathogens.

Their non-porous surface makes it harder for microbes to cling and survive, contributing to a healthier and safer transaction experience in a post-pandemic world.

But the BSP’s vision goes beyond practicality. The new banknotes are also an opportunity to celebrate the Philippines’ rich biodiversity and cultural heritage.

Each denomination features a carefully chosen endangered species, a poignant reminder of the country’s unique natural treasures and the need for their conservation.

The 1,000-piso note, already in circulation since April 2022, showcases the majestic Philippine eagle soaring above the Tubbataha Reefs Natural Park, a UNESCO World Heritage Site.

The 500-piso note features the elusive Visayan spotted deer amidst the lush greenery of the Puerto Princesa Subterranean River National Park.

The 100-piso note highlights the vibrant Palawan peacock-pheasant against the backdrop of the iconic Mayon Volcano, while the 50-piso note presents the playful Visayan leopard cat with the serene Taal Lake in the background.

These visuals are complemented by intricate designs inspired by traditional weaving patterns, showcasing the artistry and craftsmanship of different Filipino communities. The banknotes, therefore, become more than just a medium of exchange; they transform into miniature canvases that tell a story of the Philippines’ natural wonders and cultural heritage.

“The polymer series raises awareness of the country’s threatened species, serves as a symbol of Filipino identity, and fosters national pride,” shares BSP Governor Eli M. Remolona, Jr., highlighting the inspiration and symbolism behind the chosen themes

The environmental impact of currency production is another crucial factor considered by the BSP.

Polymer banknotes, with their longer lifespan, reduce the need for frequent replacements. This translates to less paper consumption, lower energy use in production, and a smaller carbon footprint. The BSP’s commitment to sustainability is evident in this conscious choice of material, aligning with the global push towards eco-friendly practices.

The transition to polymer banknotes is a milestone in the Philippines’ journey towards modernization. It’s a testament to the BSP’s proactive approach to currency management, ensuring that the Philippine piso remains secure, resilient, and relevant in a rapidly changing world.

Let me end this post by asking you readers: What is your reaction to this recent development? Are you receptive towards the newest polymer bank notes from the BSP? What do you think of the new P500, P100 and P50 bills? Do you have a problem about the new bills not showing historical people of the Philippines?

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

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Department of Tourism’s (DOT) 2025 plans unveiled

December 31, 2024December 20, 2024carlocarrasco

To keep on strengthening the drive of tourism all over the Philippines, the Department of Tourism (DOT) recently unveiled its plans for 2025, according to a Manila Times news report.

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

The Department of Tourism (DOT) unveiled its plans for 2025 to propel Philippine tourism to new heights and give travelers more reason to love the Philippines.

“Tourism will be a cornerstone of our nation’s recovery. We embraced the challenge—not just to rebuild but to innovate, not just to promote, but to develop, to transform, to lead,” Tourism Secretary Christina Garcia-Frasco said at the DOT’s year-end press briefing on Tuesday.

The DOT has formed a partnership with the Department of Health (DOH) to develop Tourist First Aid Facilities and is in talks with key government agencies to establish tourist courts that will be open 24 hours a day, seven days a week, to “resolve tourist-related crimes.”

Tourist First Aid Facilities will be established in tourist-heavy locations such as La Union, Boracay Island in Aklan, Siargao Island in Surigao del Norte, Panglao Island in Bohol, Palawan, and Puerto Galera.

The department will also soon initiate “Layover Tours” as part of the Hop-on Hop-off Bus Tours program, which Frasco said “would make layovers more enjoyable and provide seamless access to our iconic attractions.”

The Philippines Hop-on Hop-off Bus Tours program, which started in 2023, allows solo and group tourists to plan fast, self-guided trips using an advanced bus network and a specific smartphone app.

The DOT also plans to establish the “Golf Experience” initiative, which Frasco described as “geared to enthusiasts motivated to discover the world-class golf destinations.”

It will continue to construct more Tourist Rest Areas across the country, equipped with new features such as rainwater harvesting facilities and solar panels, in addition to basic amenities such as clean and adequate restrooms, a tourism information center, and a pasalubong center.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the DOT’s plans for the new year will create positive results for the nation’s tourism industry? Do you think the DOT should recognize special events like car shows, fashion shows, film festivals and cosplay events so that more local and foreign tourists could join 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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DTI exceeds 2024 investment approval target

December 30, 2024December 20, 2024carlocarrasco

More than P1.6 trillion in approved investments have been confirmed and this means that the Department of Trade and Industry (DTI) exceeded its target for 2024, according to a news article by the Philippine News Agency (PNA).

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

The Department of Trade and Industry (DTI) said approved investments already surpassed the 2024 target.

In a statement on Thursday, DTI said investments approved by the Board of Investments (BOI) amounted to PHP1.62 trillion, surpassing the PHP1.5 trillion target. It was also higher than the PHP1.26 trillion approved investments in 2023.

In a separate statement, the BOI said energy sector, specifically the renewable energy projects, recorded the biggest surge in approvals, totaling PHP1.38 trillion, up by 40 percent year-on-year.

Other sectors which recorded the biggest increase include air and water transport at PHP121.20 billion; real estate activities (mass housing) at PHP37.26 billion; manufacturing at PHP31.67 billion; water supply, sewerage, waste management, and remediation activities at PHP16.28 billion; agriculture, forestry, and fishing at PHP11.02 billion; wholesale and retail at PHP8.25 billion; and information technology-business process management at PHP7.34 billion.

The Philippine Economic Zone Authority (PEZA), meanwhile, approved PHP214.17 billion in investments, surpassing the PHP200 billion target for the year.

“We are pleased to report significant progress in attracting investments this year. These investments will fuel job creation, drive innovation, and foster dynamic economic progress. By focusing on international trade, we are laying the foundation for sustainable and inclusive economic growth,” Trade Secretary Cristina Roque said.

“As we approach 2025, we are determined to build on this positive momentum. We will continue to refine and implement forward-looking policies that attract investments in these key industries, ensuring that the Philippines remains a prime destination for innovation and growth.”

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the P1.62 trillion in approved investments will have a big effect on the national economy in 2025?

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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Philippines attracted more international visitors than last year but still behind 2024 target

December 24, 2024December 18, 2024carlocarrasco

When it comes to attracting visitors from overseas, the Philippines improved over the 5.45 million international visitors of 2023 but they have yet to hit the declared 2024 target of 7.7 million international visitors and time is already running out, according to a BusinessWorld news report.

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

INTERNATIONAL visitors to the Philippines totaled 5.65 million as of Dec. 15, according to the Department of Tourism (DoT), well behind the pace needed to achieve the 7.7 million target for the year.

“South Korea remains our top source market, followed by the US and Japan,” Tourism Secretary Christina G. Frasco said at a briefing on Tuesday.

“To further expand our reach, we have intensified efforts to engage emerging opportunity markets, sharing the unique story of the Filipino and showcasing the rich array of experiences our country has to offer,” Ms. Frasco added.

The mid-December total is equivalent to 73.4% of the target for the year.

The DoT said that South Korea accounted for 1.15 million or 20.3% of the total arrivals, followed by the US with 889,489 or 15.7%, and Japan 367,747 or 6.5%.

Rounding out the top five were China, which sent 306,549 visitors or 5.4%, and Australia with 249,140 or 4.4%.

The other leading sources of visitors were Canada, Taiwan, Singapore, the UK, and Malaysia.

“We have graduated from measuring tourism merely by the number of people arriving, but rather on the more important numbers” like spending, length of stay, and return visits, she added.

Ms. Frasco said tourism receipts as of Dec. 15 amounted to P712 billion, exceeding the P697 billion booked in 2023.

“Tourists are now spending an average of over 11 nights in the country, and over 70% are repeat visitors,” she added.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think it is still possible for the Philippines to be able to attracted at least 6.5 million international tourists by December 31, 2024? Do you think the Philippines could do better or worse in 2025? What do you think is the one single issue that made it hard for the Philippines to attract more visitors from overseas? Do you think the new law of Value-Added Tax (VAT) refund for foreign tourists will make an impact by the middle of 2025?

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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President Marcos signs into law VAT refund for foreign tourists

December 17, 2024December 9, 2024carlocarrasco

In a move to boost the Philippines’ standing in international tourism, President Ferdinand “Bongbong” Marcos, Jr., signed into law the priority measure of providing Value Added Tax (VAT) refund for foreign tourists, 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…

President Ferdinand R. Marcos Jr. on Monday signed into law a measure providing refund of Value Added Tax (VAT) for foreign tourists to attract more travelers and position the country as a “premier global shopping destination.”

Republic Act (RA) 12079 or the VAT Refund for Non-Resident Tourists will establish a VAT Refund System on locally purchased goods, Marcos said in his speech during the ceremonial signing in Malacañang.

Under the new law, tourists can claim a refund on the VAT for goods personally purchased at accredited retail outlets, provided these goods are taken out of the country within 60 days and meet a minimum transaction requirement of PHP3,000.

This initiative opens a new chapter in the Philippines’ tourism landscape, according to the President, allowing the country to compete with other tourism markets that attract tourists who are eager to take home authentic, high-quality Filipino products.

With the new law, an estimated 30 percent increase in tourist spending is projected which will benefit both large-scale industries and micro, small, and medium enterprises.

“These products tell our stories, and now, with the VAT refund, they will be able to be more accessible to global consumers, elevating once again our stature in the global market,” Marcos said.

Let me end this post by asking you readers: What is your reaction to this recent development? With the new law signed already, do you expect it to help the Philippines attract more foreign tourists as well as better spending from each of them during they stay in the country?

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

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DTI executive says Philippines is unlikely to be hit by Trump’s planned tariff hikes

December 13, 2024December 3, 2024carlocarrasco

Based on available details and key factors, an executive of the Department of Trade and Industry (DTI) stated that the Philippines is unlikely to be hit by the planned tariff hikes of the returning United States President Donald Trump whose administration will formally start on January 20, 2025, 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…

Department of Trade and Industry (DTI) Undersecretary Ceferino Rodolfo said Monday that the Philippines is unlikely to be targeted by the planned tariff hikes under the incoming administration of United States President-elect Donald Trump, citing the balanced and healthy trade relationship between the two countries.

Rodolfo noted that the Philippines’ trade deficit with the US stood at USD4 billion in 2023, far smaller than the deficits the US faces with other Asian countries, including China (USD300 billion), Vietnam (USD109 billion), Japan (USD75 billion), South Korea (USD55 billion), India (USD47 billion), and Thailand (USD43 billion).

“We believe that countries with which the US has a huge trade deficit—particularly those which worsened during the past four years—will be likely targets of additional US tariffs,” he said.

He added that this puts the Philippines in a strong position as the US looks to address trade imbalances.

“With the Trump administration’s focus on reducing trade deficit, the Philippines can leverage the balanced and healthy Philippines-US trade, indicating a mutually beneficial trade relationship,” the DTI official added.

Strengthening ties – Rodolfo said DTI Secretary Cristina Roque and Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go are working closely with the US government to ensure “even closer economic relations” with the long-time ally in preparation for Trump’s assumption into office.

He also pointed out that Trump’s pick for Department of State Secretary, Senator Marco Rubio, has been a strong proponent of closer economic and strategic ties between the US and the Philippines.

Rubio filed Senate Bill 4703, or the Philippines-US Strategic Partnership Act, which aims to enhance economic relations between the two countries.

The bill, filed on July 11, 2024, proposes to negotiate a critical minerals agreement with the Philippines; to prioritize support from the US International Development Finance Corporation for projects involving critical minerals and fossil fuels in the Philippines; and to identify additional US agencies that could invest in the Philippines, including the Department of Defense’s Office of Strategic Capital.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Philippines won’t be hit by Trump’s planned tariff hikes? Are you hoping that under a Trump presidency, the Philippines and America will be able to have a free trade agreement?

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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