jobs – Page 17 – Author Carlo Carrasco

President Marcos tells American business community that Philippines is ready to take off as Asia’s leading investment destination

November 20, 2023November 16, 2023carlocarrasco

Recently in the United States, President Ferdinand “Bongbong” Marcos, Jr., met with members of the American business community and enticed them to invest in the Philippines stating that a wealth of opportunity awaits them and the country is set to take off as a major Asian investment destination, according to a news article published 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 all set to become the “leading” investment destination in Asia, President Ferdinand R. Marcos Jr. said Thursday (Manila time).

“With a solid reform agenda and unabating growth amid headwinds, the Philippines is ready to take off as a leading investment hub in Asia,” Marcos said during the Philippine Economic Briefing (PEB) in San Francisco, California, as he enticed the business community in the United States (US) to invest in the Philippines.

“A wealth of opportunity awaits you in the Philippines, and we are ready to explore new horizons with your investments in the coming years,” he added.

Marcos assured the US businesses of a favorable business environment in the Philippines, adding that his administration is committed to promoting high-value investments.

He said an influx of highly-desirable investments in strategic sectors of the Philippine economy is expected, considering the amendments to the Public Service Act, Foreign Investments Act, Retail Trade Liberalization Act and the Implementing Rules and Regulations of the Renewable Energy Act.

He noted that the government has also introduced reforms to the Philippines’ fiscal incentives structure through the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act to attract both domestic and global firms to invest in strategically important sectors.

“Investments in rural areas and highly-advanced and technology-enabled projects and activities are given top priority and, consequently, greater and longer incentives,” Marcos said.

“Investments in the digital space are also highly prioritized. Incentives are given to projects covering research and development and those adopting advanced digital production technologies such as, for example, artificial intelligence, additive manufacturing, data analytics, cloud computing, and nanotechnology,” he added.

Marcos said the public-private partnerships (PPP) framework has also been modified to simplify the approval processes, ensure the viability and bankability of PPP projects, cut red tape, and pave the way for quality infrastructure development.

“These reforms support the Philippines’ massive infrastructure drive. We are prioritizing the implementation of 197 infrastructure flagship projects worth around USD155 billion, with a sharp focus on upgrading physical and digital connectivity, water, agriculture, health, transport, and energy,” he said.

Let me end this piece by asking you readers: What do you think about this recent development? Do you think a huge amount of investments from American businesses into the Philippines will be realized in due time? What do you think the government should do to keep attracting more foreign investors as the Philippines is now in the post-pandemic age?

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

Imposition of withholding tax on online sellers could happen before December 2023

November 2, 2023October 31, 2023carlocarrasco

Those of you who have been engaging with online selling, you better brace yourselves as the Bureau of Internal Revenue (BIR) hopes to begin imposing a creditable withholding tax before December 2023, according to a BusinessWorld news report. Specifically, this move applies on partner-merchants of online 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 hoping to start imposing a creditable withholding tax on partner-merchants of online platforms before the start of December, an official said.

“The process could be shorter, and we might just come up with it before the start of December. It will not be unreasonable to expect it before the start of December,” BIR Assistant Commissioner Jethro M. Sabariaga told reporters on the sidelines of the SGV Tax Symposium last week.

“The longer you withhold this release, you’re hobbling a significant portion of today’s economic transactions,” he added.

The BIR last week released the final draft of the amendments to Revenue Regulation No. 2-98 which currently does not cover income payments by online platform providers.

Under the final draft, the BIR would impose a withholding tax of 1% on one half of the gross remittances by domestic e-marketplace operators to the online merchants for the goods or services sold through their facility.

However, the withholding tax will not apply if annual total gross remittances to an online merchant for the past taxable year has not exceeded P250,000, or if the cumulative gross remittances to an online merchant in a taxable year has not yet exceeded P250,000.

Also exempted are online merchants who are part of a cooperative duly registered with the BIR with a valid Certificate of Tax Exemption.

Mr. Sabariaga said the BIR took note of the suggestions and objections to the draft rules raised by affected sectors. The BIR’s deadline for comments from stakeholders on the final draft ended on Oct. 27.

“This will all be taken into consideration and then be studied and then the final draft will be released and exposed,” he said.

Since then, Mr. Sabariaga said the agency consulted with various industries to come up with the latest version of the draft.

“It’s the first exposition of the draft, you have to consider the various industries, the applicability of the withholding (tax) on the various industries, the rates, the economic provisions of it,” he added

The BIR has been seeking ways to tax the digital economy, particularly as e-commerce surged during the pandemic.

In 2022, the digital economy contributed P2.08 trillion, equivalent to 9.4% of gross domestic product. Of this, e-commerce had the highest growth at 26.5%, with its share to the economy reaching 20% or P416.12 billion.

Let me end this piece by asking you readers: What is your reaction to this recent development? If you have been regularly selling online, do you think you will be covered by the planned withholding tax by the BIR? Do you have all financial and legal records prepared?

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 unemployment rate falls down to 4.4% in August 2023

October 10, 2023October 6, 2023carlocarrasco

As the Philippines continues to move forward in this post-pandemic age, the national unemployment rate fell down to 4.4% this past August, according to a Manila Standard news report.

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

The unemployment rate in the Philippines fell to a three-month low of 4.4 percent in August 2023 from 4.8 percent in July, the Philippine Statistics Authority said Friday.

National statistician and civil registrar-general Dennis Mapa said in an online briefing the August unemployment rate was also lower than 5.3 percent recorded a year ago.

This translated to about 468,000 fewer unemployed individuals in August, according to the National Economic and Development Authority (NEDA).

“In terms of magnitude, there were 2.21 million unemployed Filipinos aged 15 years and over in August 2023,” Mapa said.

“It was also lower than the 2.27 million unemployed in July 2023 and 2.68 million a year ago,” he said.

The underemployment rate also fell from 14.7 percent in August 2022 and 15.9 percent in July 2023 to 11.7 percent in August this year. This was equivalent to 1.4 million fewer underemployed persons, particularly among those employed in the services and industry sectors.

Underemployed persons are those who have expressed the desire to have additional hours of work in their present job or to have an additional job, or to have a new job with longer hours of work.

The number of employed persons aged 15 years and over in August 2023 increased to 48.07 million from 47.87 million a year earlier. This translated into 95.6 percent employment rate, higher than the reported employment rate in August 2022 and July 2023 at 94.7 percent and 95.2 percent, respectively.

Total employment increased 203,000 in the agriculture and industry sectors.

Mapa said the labor force participation rate (LFPR) in August reached 64.7 percent, lower than 66.1 percent a year ago, but higher than 60.1 percent in July 2023.

NEDA underscored the Marcos administration’s commitment to generating high-quality and high-paying job opportunities for workers.

NEDA said that apart from the decline in underemployment, several other indicators pointed to an accompanying increase in the quality of employment, including the increase in wage and salary, and full-time employment, and the decline in vulnerable and part-time employment.

“However, much remains to be done as the number of middle- and high-skilled occupations decreased (-354,000), while low-skilled occupations increased (+551,000) compared to the previous year,” NEDA said.

NEDA Secretary Arsenio Balisacan said the government would continue its efforts to create better job opportunities for workers in the country.

“To raise the quality of employment further, the Marcos administration is committed to exerting all efforts to shape an attractive business climate for investors who have the resources needed to bring in high-quality and high-paying jobs,” he said.

Let me end this piece by asking you readers: What is your reaction to this recent development? Were there many people in your local community who were fortunate to get a new job 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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Philippine economic growth for 2023 could hit 5.5%

October 4, 2023October 2, 2023carlocarrasco

In the views of the First Metro Investment Corporation (FMIC) and the University of the Asia and the Pacific (UA&P), the economy of the Philippines could grow by 5.5% for the year, according to a news article by Philippine News Agency (PNA). 2023 has been an economically challenging year and many anticipated that the national economy won’t grow as high as it did in 2022.

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

The Philippine economy is projected to grow by 5.5 percent this year, driven by the growth in government spending, a report released by the First Metro Investment Corporation (FMIC) and the University of the Asia and the Pacific (UA&P) said.

In the September issue of The Market Call released on Wednesday, FMIC and UA&P said Philippine economic growth in the third quarter of the year will likely reach 5.0 to 5.2 percent.

For the fourth quarter of this year, FMIC and UA&P project the country’s gross domestic product (GDP) to grow by 6 percent.

This would bring the full year GDP growth to 5.5 percent which is slightly below the government’s 6 to 7 percent target for this year.

“Despite the weak July-August, we think the NG will accelerate further its spending on infrastructure and transportation for the rest of the year, and employment will have strong rebound in September,” the report said.

The Philippine economy grew by 4.3 percent in the second quarter of this year. During the quarter, government expenditure contracted by 7.1 percent.

FMIC and UA&P however expect government spending to accelerate in the second half of the year.

“National Government took up the slack in July spending as it ramped up expenditures by 16.2 percent year-on-year in July through higher social protection and infrastructure outlays,” the report said.

Aside from government spending, FMIC and UA&P also expect manufacturing and construction to drive growth.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the national economy can do better than the 5.5% growth foreseen by the First Metro Investment Corporation (FMIC) and the University of the Asia and the Pacific (UA&P)?

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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Marcos signs Trabaho Para sa Bayan Act into law

October 3, 2023September 30, 2023carlocarrasco

In a new attempt to provide jobs in the Philippines and boost the economy, President Ferdinand “Bongbong” Marcos, Jr., recently signed into law the Trabaho Para sa Bayan Act, 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 report. Some parts in boldface…

The passage of the Trabaho Para sa Bayan Act will help the government achieve the goal of the Philippine Development Plan to provide more jobs to Filipinos, the National Economic and Development Authority (NEDA) said Wednesday.

President Ferdinand R. Marcos Jr. signed on Wednesday the Trabaho Para sa Bayan Act which seeks to, among others, address the challenges in the labor market.

“We support the Trabaho Para sa Bayan Act as it contributes to the Philippine Development Plan 2023-2028, which aims to increase employability, expand access to employment opportunities and achieve shared labor market governance,” NEDA Secretary Arsenio Balisacan said in a statement.

The law mandates the formulation of the Trabaho Para sa Bayan Plan (TPB) to address unemployment, underemployment, the informality of working arrangements, the reintegration of Overseas Filipino Workers and other challenges in the labor market.

It will also focus on improving the employability and competitiveness of Filipino workers through upskilling and reskilling initiatives and will provide support for micro, small and medium enterprises, and industry stakeholders.

The TPB Inter-Agency Council, chaired by the NEDA Secretary, will conduct a comprehensive analysis of the employment situation and labor market in the country.

The Council will also ensure the effective use of resources, harmonizing and complementing all governmental efforts and assisting local government units in planning, devising and implementing employment generation and recovery plans and programs within their respective localities.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the Trabaho Para sa Bayan Act will create positive results over the next few years if it succeeds? Do you think that more could be done to help local job hunters find opportunities and get employed soon?

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

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Rice retailers in Muntinlupa get temporary relief as City Government implements moratorium on rental payment collection

September 29, 2023September 29, 2023carlocarrasco

Recently in the progressive City of Muntinlupa, the local sellers of rice grain received temporary relief as the City Government implemented a moratorium on the collection of rental payments, 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 Muntinlupa City government has imposed a moratorium on the collection of rental payment from stall holders engaged in the selling of rice as assistance to them following President Marcos’ decision to put a price cap on regular and well-milled rice.

Marcos issued Executive Order No. 39 on Aug. 31 imposing a mandated price ceiling of P41 per kilo for regular milled rice and P45 per kilo for well-milled rice. The rice price cap took effect on Sept. 5.

To assist the affected rice retailers, the Muntinlupa City Council passed Ordinance 2023-120 “imposing moratorium on rental payment for public stall holder in the retail business of selling rice during the effectivity of Executive Order No. 39 or the imposition of mandated price ceiling on rice.”

Mayor Ruffy Biazon signed the ordinance on Sept. 26, which became “effective immediately upon its approval.”

According to the ordinance, the President issued E.O. 39 “with an end view to put a price cap on rice in the effort to ease off the increasing price of the staple caused by illegal price manipulation such as hoarding by opportunistic traders and collusion among industry carters in the light of the lean season, as well as global events taking place beyond the Philippines’ control, such as the Russia-Ukraine conflict, India’s ban on rice exportation, and the unpredictability of oil prices in the world market, among other factors, have caused an alarming increase in the retail prices of rice/”

The Department of Interior and Local Government (DILG) issued Memorandum Circular No. 2023-131 for mayors to assist and ensure the effective regulation of the price of rice through “regular inspections of public and private markets, as well as rice warehouses; activation of hotlines, consumer complaints desk, and Timbangan ng Bayan; and deputation of barangay officials and non-government organizations to monitor abnormal price increases,” the ordinance added.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you approve of the City Government’s moratorium on the collection of rental payments with regards to the local sellers of rice grain?

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 engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Foreign tourist arrivals in the Philippines approaching 4 million

September 25, 2023September 25, 2023carlocarrasco

Close to four million foreign tourist arrivals have been counted lately as Department of Tourism (DOT) secretary Christine Frasco confirmed, according to a Philippine News Agency (PNA) news article. Take note that the target for 2023 is 4.8 million foreign tourist arrivals and the government intends to make the country a stronger tourism force in Asia by the year 2028.

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

The Philippines is close to hitting its 2023 arrival target after recording more than 3.87 million foreign tourists as of Sept. 19, Tourism Secretary Christina Frasco said Wednesday.

At the opening of the 2023 Philippine Travel Exchange (PHITEX) in Cebu, Frasco said the country logged 3,877,183 inbound arrivals or at least 80.77 percent of the 4.8 million foreign tourists that the DOT targets to reach by the end of the year.

In the same period, the Philippines generated PHP316.9 billion in revenue from tourists coming mostly from South Korea, the United States and Japan.

Frasco is optimistic these figures will increase as business-to-business meetings between sellers and buyers at the PHITEX commence on Sept. 20.

She said the Marcos administration would continue working to transform the Philippines as a “tourism powerhouse in Asia”.

She shared the DOT’s plans and programs aimed at promoting ecotourism, the development of tourism communities across the country, fostering robust private sector participation to promote heritage protection, diversification of the country’s tourism portfolio and other initiatives to benefit tourism stakeholders.

Let me end this piece by asking you readers: What do you think about this recent development? With the likelihood that the Philippines will be able to surpass its 2023 foreign tourist arrivals target of 4.8 million, do you think the number could reach 6 million by the end of the year? Did you notice any positive economic impact from the rising foreign tourist arrivals? If you own a business, did you benefit from foreign tourists’ spending?

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 government releases cash aid to local rice retailers

September 18, 2023September 14, 2023carlocarrasco

Recently in Las Piñas City, the City Government released cash aid to the local rice retailers to support them in coping with the rising costs in their line of business, according to a Manila Bulletin news report. The distribution was led by Mayor Imelda Aguilar.

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

Las Piñas City Mayor Imelda Aguilar led the distribution of cash assistance to 139 rice retailers at Las Piñas City Café in the City Hall grounds on Tuesday, Sept. 12.

The mayor said the City Agriculture Office (CAO), in coordination with the City Social Welfare and Development Office (CSWDO), distributed P15,000 cash assistance to each of the beneficiaries.

Aguilar took a decisive stance in response to the rising prices of rice to safeguard the city’s small-scale rice retailers, traders, and vendors.

The cash assistance is just the beginning of the city government’s initiatives to help its small rice business owners, said Aguilar, showing her commitment to aiding local businesses and prioritizing community welfare.

The mayor also revealed that the city government is in the process of developing a more comprehensive plan to support local rice traders and vendors.

The cash assistance aims to provide immediate relief to small businesses in the city, empower them to continue their operations and contribute to stabilizing rice supplies in the community since the livelihoods of rice retailers are under severe strain due to the surging price of rice.

It should be noted that government-related action towards rice grain has been making waves elsewhere. In fact, the Department of the Interior and Local Government (DILG) called on local government units to pass ordinances to help rice retailers.

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? Are you struggling to buy rice grain for your family now? Do you think this newest action by the City Government will benefit consumers as well? Are the local rice retailers in your community been struggling a lot lately?

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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Watch out for Belize Oasis Alabang

September 14, 2023September 12, 2023carlocarrasco

Recently in the progressive City of Muntinlupa, developer Filinvest Land, Inc. (FLI) had a ceremonial topping-off at one of the key buildings of the Belize Oasis Alabang community, according to a BusinessWorld news report. Belize Oasis Alabang is the company’s resort-inspired, mid-rise residential community accessible by the East Service Road within Muntinlupa.

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

LISTED property developer Filinvest Land, Inc. (FLI) recently topped off the first building in its Belize Oasis community in Alabang, Muntinlupa City.

FLI said in a statement that the Building Azul is a low-density tower with only 25 units per floor. It is part of Belize Oasis, the company’s first mid-rise development in Muntinlupa City under the Aspire by Filinvest brand.

FLI said Building Azul has a “Venti-lite” design that incorporates sky gardens, allowing natural light and ventilation to the hallways.

“Soon, the future residents of Belize Oasis will have the privilege of enjoying the attractive features that this project has to offer. Nestled in a highly accessible area, Belize Oasis can be easily reached through major thoroughfares such as C5, South Luzon Expressway, and the Skyway,” FLI First Vice-President for Brand/Product and Regional Project Head for Medium-Rise Buildings Aven D. Valderrama said.

Belize Oasis is only a few minutes away from Filinvest City, FLI’s 244-hectare township in Alabang.

“Belize Oasis presents a golden opportunity to invest in a prime location with a ready rental market. Alabang has long been coveted due to its strategic positioning, excellent connectivity, and thriving commercial and business districts,” the company said.

Let me end this piece by asking you readers: What is your reaction to this recent development? If you are a Muntinlupa resident, do you think Belize Oasis Alabang will attract a lot of new residents and add significantly to the economic dynamism of Alabang?

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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PHILTOA commended by DOT Secretary Frasco for unwavering commitment to revitalizing Philippine tourism

September 1, 2023August 29, 2023carlocarrasco

Philippine Tour Operators Association (PHILTOA), the organization composed of tour operators and allied members that are actively involved in the advocacy of responsible tourism, was commended by Department of Tourism (DOT) Christina Frasco during their 4th General Membership Meeting (4th GMM) held recently at Crimson Hotel in Filinvest City, Alabang, Muntinlupa, according to a Manila Bulletin article. Specifically they were commended for unwavering commitment to revitalizing Philippine tourism.

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

The Philippine Tour Operators Association (Philtoa) recently hosted its 4th General Membership Meeting at the Crimson Hotel Filinvest City in Muntinlupa, with the Department of Tourism Secretary Christina Garcia Frasco as keynote speaker. Led by Philtoa President Fe Abling-Yu, the meeting also highlighted Bacolod City as the featured destination, with Mayor Alfredo Abelardo “Albee” Benitez in attendance.

Secretary Frasco commended Philtoa for its unwavering commitment to revitalizing Philippine tourism, highlighting the association’s promotion of inclusive tourism development in both established and emerging destinations.

“We recognize that there are several emerging destinations across the country that, if given the right assistance, attention, development, and promotion, have the potential to become key destinations, as far as tourism is concerned,” the tourism chief said. “This is why I’m very grateful to Philtoa, because their focus has not been our world-famous destinations alone, but also in giving opportunities to emerging destinations. This is reflective of true shared tourism governance, where the private sector mobilizes the industry to assist the government to ensure inclusive tourism development.“

With this, Bacolod City also took center stage at the 4th GMM as a growing “super city” with exciting advancements in tourism, including infrastructure, art, culture, and culinary experiences. Mayor Benitez highlighted upcoming projects such as the Bacolod Convention Center, which can accommodate up to 10,000 people for MICE events; the Bacolod Masskara Museum/Trade Center; and the Orange Project, a prominent art gallery. The renowned Masskara Festival, spanning three weeks, promises a vibrant celebration of sports, food, spirits, and festivities.

To further underscore its commitment to fostering partnerships and growth within the industry, Philtoa President Abling-Yu announced the upcoming 34th Philippine Travel Mart, scheduled from Sept. 1 to 3 at the SMX Convention Center Manila in Pasay City.

She stated: “We are grateful for the strong partnerships with the Department of Tourism, Tourism Promotions Board, Philippine Airlines, BPI, and our media partners. The 34th Philippine Travel Mart is not only a showcase of our country’s incredible destinations but also a celebration of our industry’s resilience and strength as a major contributor to the country’s growth and progress.”

The association also welcomed 10 new tour operators, an immigration services agency, and 15 hotel and resort properties, increasing the total membership to over 500.

Let me end this piece by asking you readers: What is your reaction to this development? Are you convinced that the PHILTOA deserves the commendation from the Tourism Secretary? Do you think that Philippine tourism will exceed its foreign tourist arrivals target by a wide margin before the year ends? What other activities or special events should the PHILTOA highlight to keep national tourism grow?

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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