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Moody’s Ratings sees the Philippines becoming the 2nd fastest growing Southeast Asian economy this year and in 2025

April 15, 2024April 3, 2024carlocarrasco

For this year and 2025, Moody’s Ratings projects the Philippines will end up as the 2^nd fastest growing economy in Southeast Asia, 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…

THE PHILIPPINES is projected to be the second-fastest growing economy in Southeast Asia this year and in 2025 as domestic demand is expected to remain resilient, according to Moody’s Ratings.

“We have kept unchanged our 2024 and 2025 forecasts for the Philippines and Malaysia and also expect sequentially higher growth in both countries. Domestic demand remains the primary economic growth engine for the Philippines,” it said in a report.

Moody’s Ratings kept its forecast for gross domestic product (GDP) growth for the Philippines at 5.9% this year and 6% in 2025.

However, these projections fall short of the government’s growth targets of 6.5-7.5% for this year and 6.5-8% for next year.

At 5.9%, the Philippines has the second-fastest projected growth in Southeast Asia for 2024, after Vietnam (6%). It is ahead of Indonesia (5%), Malaysia (4.5%) and Thailand (2.8%).

For 2025, the Philippines is again expected to post the second-fastest growth behind Vietnam (6.5%) but ahead of Indonesia (5%), Malaysia (4.8%), and Thailand (3%).

Moody’s Ratings said that growth in domestic demand-driven countries like the Philippines is “increasing more than we previously expected.”

The economy grew by a weaker-than-expected 5.6% in 2023, slower than the 7.6% expansion in 2022 and short of the 6-7% government goal.

Household consumption typically accounts for three-fourths of the Philippine economy. Last year, household spending expanded by 5.6%, much slower than 8.3% in 2022.

Meanwhile, Moody’s Ratings sees inflation averaging 3.8% this year, higher than the Bangko Sentral ng Pilipinas’ (BSP) 3.6% full-year forecast but within the 2-4% target.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think that strong household consumption alone can help the Philippine economy grow stronger than what Moody’s Ratings projected for 2024 and 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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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

World Bank sees stronger Philippine economic growth in 2025

April 11, 2024April 2, 2024carlocarrasco

Recently the World Bank (WB) revealed its forecast of stronger economic growth for the Philippines in the year 2025 although still below the projections of the government, according to a BusinessWorld news report.

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

THE WORLD BANK (WB) maintained its economic growth forecast for the Philippines this year but raised its 2025 growth projection, amid expectations of higher consumer spending and foreign investments.

In its latest East Asia and Pacific (EAP) Economic Update, the World Bank said it expects Philippine gross domestic product (GDP) to grow by 5.8% this year, the fastest in Southeast Asia along with Cambodia.

The Philippines and Cambodia are seen to expand faster than Vietnam (5.5%), Indonesia (4.9%), Malaysia (4.3%), Lao People’s Democratic Republic (4.0%), Timor-Leste (3.6%), Thailand (2.8%) and Myanmar (1.3%).

For 2025, the World Bank raised its GDP forecast for the Philippines to 5.9% from 5.8%.

However, the World Bank’s growth forecasts for the Philippines are lower than the government’s target of 6.5-7.5% for 2024 and 6.5-8% for 2025 to 2028.

“What has sustained growth in the Philippines, like much of the region, has been consumption and the recovery in services,” WB East Asia and Pacific Chief Economist Aaditya Mattoo said at a virtual briefing on Monday.

He noted foreign investment flows into the Philippines might increase after the government implemented significant reforms such as Republic Act No. 11659 or the Public Service Act, which allows full foreign ownership in key sectors such as telecommunications and airlines.

“(The reforms) should begin to pay off in terms of greater foreign investment, which though in the short run… the flows have been less strong than we would have expected,” Mr. Mattoo said.

Climate and geopolitical shocks, as well as elevated inflation and high interest rates are risks to the growth outlook.

“If there is a resurgence in inflation, for example in the United States, which might well see interest rates even higher for longer, that would certainly affect growth throughout the region as we have estimated,” he said.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the Philippine economy can grow stronger than the forecast of the World Bank for 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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Tourist spots in New Bilibid Prison?

April 5, 2024March 26, 2024carlocarrasco

If plans between the different authorities indeed push through, then it would mean that tourist spots inside the New Bilibid Prison (NBP) in Muntinlupa City will be realized, according to a news article by the Philippine News Agency (PNA).

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

Plans are afoot to convert historical sites inside the New Bilibid Prison (NBP) in Muntinlupa into possible tourist sites following a Monday meeting between Bureau of Corrections (BuCor) Director General Gregorio Pio P. Catapang Jr. and Muntinlupa City Mayor Rozzano Rufino B. Biazon.

During the meeting attended by officials from BuCor, the Department of Justice, and the city government, Catapang assured his full support to revive the Muntinlupa’s economy through tourism, the BuCor said in a statement on Tuesday.

Included in the circuit tours inside the NBP being eyed by the Muntinlupa City Tourism Culture and Arts Department are: Kiyosi Oshawa Shrine / Memorial for Peace Shrine; the Jamboree Lake, the smallest lake in the Philippines; Director’s Quarters – Presently the official residence of the Bureau of Corrections Director General; Lethal injection and Death Chamber, which has since been mothballed following the suspension of the death penalty; Japanese Cemetery, a garden cemetery located inside the NBP Reservation Compound dedicated to the Japanese Soldiers who died in Muntinlupa; Memorial Hill, the burial place of Major Eriberto B. Misa Sr. which served as a tribute to the former Bureau of Prison Director for his 12 years of service, making him the longest-serving prison director up to this date.

The government earlier announced plans to decongest the overpopulated penal facility and convert it into a high-value multi-use development once the inmates are relocated to other facilities throughout the country by 2028.

In November last year, prison officials said an open park at the heart of Metro Manila similar to Central Park in New York, is among the components of the plan by the BuCor to develop the NBP.

Catapang said that Justice Secretary Crispin Remulla’s vision for the property is to turn a 100-hectare lot of the more than 350 hectares of NBP into an open park, while the remaining area will be for a mixed-use space to house a government center, and lease parts to private entities to generate funds for the national government.

Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City, do you see any potential benefit of establishing tourist spots inside the NBP?

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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Filinvest REIT Corp. (FILRT) remains as one of the top taxpayers in Muntinlupa City

April 1, 2024March 20, 2024carlocarrasco

Recently in the progressive City of Muntinlupa, Filinvest REIT Corp. (FILRT) was recognized by the City Government as one of the Top 10 taxpayers in the city and this is also the 3^rd consecutive year the corporation made it in the prestigious rankings, according to a Malaya Business Insight news report.

For the newcomers reading this, Filinvest REIT Corp. (FILRT) describes itself as “a real estate investment trust backed by Filinvest Land, Inc. (FLI), one of the largest property developers in the Philippines with an established portfolio of residential, office, retail and industrial developments around the country.”

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

Filinvest REIT Corp. (FILRT), the pioneering real estate investment trust (REIT) arm supported by Filinvest Land, Inc. (FLI), and renowned as the country’s first sustainability-themed REIT, has once again received recognition as one of Muntinlupa City’s top taxpayers for the third consecutive year. Acknowledged alongside nine other esteemed businesses by the city, under the guidance of Hon. Mayor Ruffy Biazon, FILRT has been commended for its significant contribution to the city’s economic progress, bolstering various local government initiatives such as scholarships, healthcare, and security infrastructure.

Maricel Brion-Lirio, FILRT President and CEO, affirmed, “We are steadfast in our commitment to embedding sustainability in our Muntinlupa developments, and we remain dedicated to investing in projects and endeavors that champion environmental and social responsibility. FILRT and FLI stand as steadfast allies of the government, offering unwavering support for the city’s continuous pursuit of advancement.”

FILRT currently owns and manages 16 eco-efficient buildings encompassing over 280,000 square meters of gross leasable area within Northgate Cyberzone, an IT BPO campus-style hub accredited by the Philippine Economic Zone Authority (PEZA) in Filinvest City, Alabang, Muntinlupa City. Notably, FILRT’s office property portfolio boasts a globally competitive tenant mix predominantly consisting of blue-chip BPO companies.

Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City, are you delighted to see how much socio-economic progress FILRT contributed to the city? Are many members of your local community working in a company occupying properties within the Northgate Cyberzone or at Filinvest City?

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

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P170.6-billion NAIA deal signed

March 28, 2024March 18, 2024carlocarrasco

Recently at Malacañang Palace, the ambitious P170.6 billion agreement to rehabilitate and modernize the Ninoy Aquino International Airport (NAIA) was formally signed in the presence of President Ferdinand “Bongbong” Marcos Jr., House Speaker Martin Romualdez and Executive Secretary Lucas Bersamin which symbolically starts the public-private partnership, 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 PHP170.6-billion Public-Private Partnership (PPP) agreement for the rehabilitation of the Ninoy Aquino International Airport (NAIA) is expected to herald economic growth through better collaborations with both local and foreign investors, Transportation Secretary Jaime Bautista said Monday.

At the signing of the concession deal between the Department of Transportation (DOTr) and the New NAIA Infra Corp. (NNIC) in Malacañang, Bautista said the PPP project would “open floodgates” of opportunities from investments, business, tourism, and employment.

“We welcome this development for the NAIA PPP Project as this will not only generate revenue for the government but it will also create opportunities for Filipinos. With a modernized NAIA, we are elevating the airport’s facilities and services to international standards,” he said.

The agreement, Bautista said, would send signal to the international business community about the viability of government infrastructure projects.

“This radical transformation comes at no small price Substantial investments in infrastructure and technology will necessitate collaborations with local and foreign partners,” he added.

San Miguel Corporation president and chief executive officer Ramon Ang, for his part, said the NNIC would not only rehabilitate but also improve the airport’s functionality and “establish a new standard in serving excellence.”

“Together with our partner, Incheon, we have assembled a team of experts, focused on implementing immediate improvement, and help us achieve our long-term goal for NAIA,” Ang said.

President Ferdinand R. Marcos who witnessed the signing described the pact as an “investment in our future.”

“This undertaking is not just about revenues that will be remitted to treasury alone, but resources invested in the airport,” Marcos said.

The agreement, signed by Bautista, Ang and Manila International Airport Authority (MIAA) General Manager Eric Ines, covers 15 years with an option for a 10-year extension.

Let me end this piece by asking you readers: What is your reaction about this recent development? Do you think this new public private partnership will succeed with achieving its goals of modernizing the NAIA, creating new jobs and attract both new investments and a higher number of foreign visitors in the years in the come?

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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Over 1.2 million international tourist arrivals in the Philippines counted (January 1 to March 5, 2024)

March 18, 2024March 7, 2024carlocarrasco

If the newest data about the 1.2 million international tourist arrivals released by the Department of Tourism (DOT) for the period of January 1 to March 5, 2024, is indeed true and accurate, then it looks like achieving the 7.7 million international tourist arrivals target for the Philippines for 2024 is doable. The DOT recently announced that that 1,227,815 international tourist arrivals (which includes both foreign tourists and Filipinos based overseas) were counted during the first 65 days of the year, 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 Philippines is off to a good start in reaching its year-end arrival target after getting 1.2 million foreign visitors in the first two months of 2024 alone, the Department of Tourism (DOT) reported Thursday.

As of March 5, international tourist arrivals to the Philippines have tallied 1,227,815.

Foreign tourist arrivals took the lion’s share with 1,160,129 or 94.49 percent while overseas Filipinos make up the remaining 67,686.

Speaking at the Philippine Pavilion at the Internationale Tourismus-Börse (ITB) 2024 Convention in Germany, Tourism Secretary Christina Garcia Frasco said this is 22.86 percent higher than the 999,390 arrivals received by the country in the same period in 2023.

“I would like to express my profound gratitude first to all our Philippine sellers who continue to champion Philippine tourism. As of today (March 5), the Philippines has received over 1.2 million international visitors, a robust indication of the future of Philippine tourism. Cheers to all the reasons to celebrate and Love the Philippines,” she said.

South Korea remains the country’s top source market for visitors, with 349,956 or 28.50 percent of the total, followed by the United States with 195,603 (15.93 percent), China with 85,876 (6.99 percent), Japan with 73,159 (5.96 percent), and Canada landing in the fifth spot with 50,555 (4.12 percent).

Australia took the sixth spot with 50,488 (4.11 percent), Taiwan with 42,955 (3.50 percent), the United Kingdom with 30,507 (2.48 percent), Singapore with 25,253 (2.06 percent), and Germany with 20,816 (1.70 percent).

In January, the country’s visitor receipts also grew by 4.84 percent to USD652.26 million from the USD622.14 million recorded in the same month last year.

By doing the math, 1,227,815 international tourist arrivals divided by the first 65 days of 2024 is equivalent to 18,889.46 per day. Multiply that by 366 days for 2024 (a leap year), the total would be 6,913,542 which is several hundreds of thousands of international tourist arrivals short of the declared target. The DOT and the rest of tourism industry’s stakeholders still have lots of work to do to ensure that more than enough visitors from overseas will come into the country and add to the nation’s economy. It should be remembered that the Rizal Commercial Banking Corp. (RCBC) and China Banking Corp. found the nation’s Philippine tourism recovery still lacking.

Let me end this piece by asking you readers: What is your reaction to this latest development? Do you think the reforms and initiatives the Department of Tourism (DOT) executed last year are generating positive results right now? Did you notice the lack of Arab nations among the top markets of international visitors the DOT declared? Do you think there is enough momentum and time for the Philippines to be able to attract 7,700,000 international tourist arrivals by the end 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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Three major Japanese investors plan to expand operations in PEZA ecozones

March 15, 2024March 11, 2024carlocarrasco

With all the uncertainty and economic challenges going on, the economy of the Philippines could get a much-needed boost as the Philippine Economic Zone Authority (PEZA) revealed that three major Japanese investors are planning to expand their existing operations in the country, according to a Manila Bulletin news report.

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

The Philippine Economic Zone Authority (PEZA) disclosed that three major Japanese investors are planning to expand their operations in the Philippines.

PEZA Director General Tereso Panga, who was guest speaker during an Economic Seminar in Tokyo recently, reported that he held talks with long-time PEZA investors Tsuneishi, electronics manufacturing firm SIIX Co., and automobile manufacturer FCC Co., Ltd. The seminar hosted by Sumitomo Mitsui Banking Corp. was attended by 140 Japanese firms.

According to PEZA, Tsuneishi is preparing for its fifth phase of expansion, including projects to manufacture the world’s first methanol-fueled TEU container carriers and establishing a wood pelletizing business.

Since 1994, the Japanese shipbuilder has already expanded its Philippine operations four times. Its first project was its shipbuilding business in Balamban, Cebu which grew to a 170-hectare facility from 25 hectares.

It also employs around 10,000 direct and subcontracted employees, a long way from the mere 300 workers it had when it began operations.

In Panga’s meeting with SIIX Co.,Ltd, its President Koji Yanase said they see their Philippine operations “playing a crucial role as they expand their core business and enter new territories.”

SIIX Co. has been engaging with the Philippines since 1957 as with the establishment of the first offshore operations for their ink production in the country.

The company said that it will manufacture its patented conductive ink in the Philippines, according to Panga.

Meanwhile, Yoshitaka Saito’s FCC Co. said they expect their Philippine operations to grow in the coming years as they ramp up “manufacturing of the clutch for Honda Click 125 motorcycle, production of paper ceramics for other electronics component manufacturers, and investment in new advanced technology businesses that will involve the assembly line for scooters, lining molding line, and weight line.”

FCC is also eyeing involvement in the country’s circular economy through using solid oxide fuel cells (SOFC) for water filtration and production of solid biomass fuel.

Let me end this piece by asking you readers: What is your reaction about this recent development? Do you think that the planned expansion of the three Japanese firms will help the national economy a lot in the long-term?

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

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Las Piñas City’s PESO recognized by DOLE

March 13, 2024March 5, 2024carlocarrasco

Recently in the City of Las Piñas, the City Government announced that its Public Employment and Services Office (PESO) was recognized by the Department of Labor and Employment (DOLE) for its efficient and effective conduct and monitoring of job fairs, according to a Manila Bulletin news report.

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

The Department of Labor and Employment (DOLE)-National Capital Region (NCR) recognized the Las Piñas Public Employment and Services Office (PESO) for its efficient and effective conduct and monitoring of job fairs that contributed to the increase of employment in the region.

Vice-Mayor April Aguilar said the department was awarded by the DOLE-NCR as best performing PESO in job placement for 2023.

The recognition was given to PESO during the regular flag raising ceremony on Monday, March 4.

Aguilar expressed her pride for the recognition as she reiterated the city government’s commitment to increasing the employment opportunities for Las Piñas residents.

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 PESO office deserves the recognition from DOLE? Did anyone in your local community got employed through the services of the PESO over the past twelve months?

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

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Muntinlupa City Council amends ordinances related to companies’ hiring of local residents

March 7, 2024February 27, 2024carlocarrasco

Recently in the progressive City of Muntinlupa, the City Council amended two local ordinances that affects companies (with operations within the city) with regards to their hiring of local residents, according to a Manila Bulletin news report.

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

The Muntinlupa City Council amended an ordinance that requires companies operating in the city to hire 70 percent of their rank-and-file employees from among residents.

Under existing ordinances 08-028 and 96-80, all companies that have at least five employees are mandated to hire at least 70 percent of their rank-and-file employees from among Muntinlupa residents.

Ordinance 2024-151 was passed by the City Council amending the two ordinances.

Under the amended ordinance, excluded in the scope of the local law are the banking sector and any industry mandated by law to implement periodic forced rotation of employees.

Section 6 of Ordinance 96-80 was also amended. Under the new provision, all companies in Muntinlupa including business establishments that contract or avail of rank-and-file employees from service agencies located outside the city are required to submit a yearly report of the list of their employees.

The list will be submitted to the Muntinlupa Public Employment Service Office (PESO) by Sept. 30 of every year.

The PESO monitors all business establishments and companies in Muntinlupa for their compliance with the 70-percent workforce requirement.

According to PESO, the ordinance addresses the unemployment problem in the city by giving Muntinlupeños assurance to be employed by companies.

Under the existing ordinance, companies are required to submit to the PESO and Business Permit and Licensing Office (BPLO) a list of employees as part of requirements in the issuance of business permits.

In the amended law, in addition to submitting the age, address, period of employment in the company, and position and duties of employees, companies are now required to submit the employee’s gender, employees who are classified as persons with disabilities (PWDs) and senior citizens, and the company’s reason for not meeting the 50 percent compliance rating in the employment of Muntinlupa residents.

Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City who happens to be looking for a job, do you think the latest move by the City Council will boost your chances of getting hired? If you own a business operating in the city, do you think the amendments will make managing your lineup of employees more challenging?

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 lauds signing of Tatak Pinoy law (Republic Act Number 11982)

March 5, 2024February 28, 2024carlocarrasco

In relation to the recent signing of Republic Act Number 11982 (RA11982 or Tatak Pinoy law) into law by Philippine President Ferdinand “Bongbong” Marcos, Jr., the Department of Trade and Industry (DTI) lauded the signing stressing that it will empower the nation’s industrialization, according to a Philippine News Agency (PNA) news article.

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

Department of Trade and Industry (DTI) Secretary Alfredo Pascual reaffirmed the department’s commitment to boost its science, technology and innovation-driven industrialization agenda with the enactment of Republic Act (RA) 11982 or the Tatak Pinoy Act on Monday.

In line with President Ferdinand R. Marcos Jr.’s priorities in the Philippine Development Plan (PDP) 2023-2028, the newly passed legislation will empower Philippine industries to manufacture a broader range of higher quality and sophisticated products, elevate the country’s position in the global value chain, and enhance productivity and competitiveness in the global market.

The Tatak Pinoy Law lies at the core of the nation’s industrialization strategy, revitalizing and driving the economic agenda with precision. With its focus on promoting industrial excellence, embracing innovation and navigating contemporary challenges, Tatak Pinoy is a transformative legislation that empowers Philippine industries to thrive in an intensely competitive global landscape.

Under the law, a Tatak Pinoy Council will spearhead the development and implementation of a multi-year strategy focusing on five key pillars: human resources, infrastructure, technology and innovation, investments, and sound financial management.

“We are confident that this legislation will bolster our ongoing programs, propelling industries towards greater global recognition and success. It underscores our commitment to implement measures that enhance the competitiveness of our local industries, ensuring that the world gets to experience what the Philippines has to offer,” Pascual said in a news release.

The Atlas of Economic Complexity, which measures the level of sophistication of export products being produced by countries globally, ranks the Philippines as 33rd among 133 countries, with an overall economic complexity index of 0.76.

This is driven by the country’s exports of high to moderate complex products such as electronics and integrated circuits, electrical machinery and equipment, as well as information and communications technology (ICT) services.

The country ranks 4th in Southeast Asia, trailing behind Singapore (5th), Thailand (23rd), and Malaysia (28th), and above Vietnam (61st) and Indonesia (64th).

“The Tatak Pinoy Law is a significant milestone that will enable our industries to climb up the economic complexity ladder, making the Philippines a more formidable player in the global market. Tatak Pinoy will enable our industries to embrace new technologies and effectively overcome the challenges of the modern world,” DTI Undersecretary Rafaelita Aldaba said.

With the implementation of the Tatak Pinoy Law, the DTI aims to elevate the country’s ranking by supporting and promoting the production of more sophisticated and high-quality products.

Tatak Pinoy will build on the existing flagship initiatives of the DTI, such as the One Town, One Product (OTOP) and Malikhaing Pinoy Program, which cultivate and promote unique products and empower local entrepreneurs and innovators to elevate the quality and marketability of locally made products.

Tatak Pinoy is poised to revolutionize industries, particularly Philippine manufacturing, amidst the entry of Fourth Industrial Revolution technologies. It will amplify DTI’s efforts in building an Industry 4.0 Pilot Factory, establishing a Center for Artificial Intelligence Research (CAIR), and supporting the country’s Regional Inclusive Innovation Centers (RIICs).

The new law will also drive innovation and facilitate Industry 4.0 adoption, especially among micro, small and medium-sized enterprises (MSMEs).

Pascual said a critical provision of the law is the mandate for the Philippine government to prioritize Filipino products and services in government procurement, strengthening collaboration between the public and private sectors.

“This initiative serves as a catalyst for creating a robust market environment, particularly beneficial for SMEs and startups,” he said.

Let me end this piece by asking you readers: What is your reaction about this recent development? Do you think the new Tatak Pinoy law will improve the nation’s industrialization in the years ahead? Do you think it will lead to even more new jobs in the future?

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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