Marcos – Page 9 – Author Carlo Carrasco

President Marcos signs into law VAT on foreign digital services

October 10, 2024October 2, 2024carlocarrasco

Foreign entities that provide digital services to their customers here in the Philippines will have to pay their fair share of taxes as President Ferdinand “Bongbong” Marcos, Jr., recently signed into law Republic Act Number 12023 (RA12023) which imposes the 12% value-added tax (VAT) on foreign digital service providers (DSPs), 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. signed into law on Wednesday a measure imposing a value-added tax (VAT) on foreign digital services providers (DSPs).

A priority measure of the administration, Republic Act (RA) 12023 imposes a 12 percent VAT on foreign DSPs, such as Netflix, Disney, and HBO, to generate additional revenue for the government.

In his message, Marcos said the new law would level the playing field for local providers.

“If you are reaping the rewards of a fruitful digital economy here, it is only right that you contribute also to its growth. After all, whether you are a small tech startup or a global tech giant based halfway around the world, if you are making money here in the Philippines, you’re a part of our community, and with that comes a shared responsibility,” Marcos said.

According to the President, about PHP105 billion in revenue is expected to be collected in the next five years due to RA 12023.

The amount is enough to build 42,000 classrooms, more than 6,000 rural health units, and 7,000 km of farm-to-market roads, the Chief Executive noted.

Additionally, 5 percent of the revenues generated by the law will be allocated to the local creative industry.

“This means our artists, filmmakers, musicians, the very people who fill our platforms with storage and the content, will directly benefit. It ensures that our creative talents are not just surviving in a competitive digital market, but will be allowed by fairness and progress,” Marcos said.

The President thanked the legislators for passing the measure even as he called on companies covered by the law to support and heed the rules of the Act.

‘Fair and square’ tax policies – Senator Sherwin Gatchalian, meanwhile, said the new law is expected to address revenue losses by clarifying the taxability of non-resident digital service providers and addressing the ambiguity in the previous law.

“We believe in the importance of creating an environment where our digital services providers, whether they are nonresident or local, operate under fair and square tax policies,” Gatchalian said in a statement. He said the new measure does not mean a new tax imposition.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the new law will be good for the economy of the Philippines? Do you think that the foreign digital service providers will somehow raise the subscription rates and fees for their customers here in the Philippines in response to the new law?

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 inflation down to 1.9% this past September, lowest since May 2020

October 7, 2024October 4, 2024carlocarrasco

The inflation rate of the Philippines fell down to 1.9% for the month of September 2024 which marks a 4-year-low, 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 country’s headline inflation further eased to 1.9 percent in September this year, the lowest recorded since the 1.6 percent in May 2020.

Headline inflation was at 3.3 percent in August and 6.1 percent in September last year.

In a briefing on Friday, National Statistician Dennis Mapa said the latest data brought the year-to-date inflation to 3.4 percent, which is well within the government’s 2 to 4 percent target.

Mapa said the downtrend in the overall inflation was due to the slower annual increase in food and non-alcoholic beverages at 1.4 percent from 3.9 percent in August.

Food inflation, in particular, eased to 1.4 percent in September from 4.2 percent the previous month.

Mapa said the deceleration in food inflation was due to the slower inflation rate of rice at 5.7 percent from 14.7 percent in August.

Other contributors to the lower food inflation include the faster decline in the inflation of vegetables, tubers, cooking bananas, and pulses.

Lower inflation rates were also reported for corn, flour, bread and other bakery products, meat and other parts of slaughtered land animals, and ready-made food and other food products.

In a separate statement, the National Economic and Development Authority (NEDA) assured the public that the government remains committed to stabilizing commodity prices.

“The continued slowdown in inflation is expected to boost consumer confidence, driving higher spending and consumption and fueling business expansion,” said NEDA Secretary Arsenio Balisacan.

“Additionally, easing food prices will relieve low-income households, enabling them to allocate more to other essential needs such as education and health. We will sustain the momentum as we assure the public that we will continue to pursue and carry out strategies to maintain stable prices of food and other commodities,” he added.

Balisacan said the Executive Order issued by President Ferdinand R. Marcos Jr., which reduced the rice tariffs to 15 percent, helped bring down rice prices.

“While we expect lower tariffs to reduce rice prices, we should continuously support local production through increased agricultural funding to complement this short-term measure,” Balisacan said.

The NEDA chief assured the public that the government is ready to address other inflationary pressures affecting food, such as the continuing prevalence of African swine fever (ASF), through the delivery of vaccines.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the lower headline inflation will be helpful for local businesses that have been struggling with cutting down their expenses?

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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Dismissed Bamban mayor Alice Guo caught overseas, will be brought back to the Philippines

September 5, 2024September 4, 2024carlocarrasco

On the late evening of September 3 in Indonesia, the dismissed Bamban mayor Alice Guo got arrested by the local authorities and she will be brought back here in the Philippines very soon, according to a Philippine News Agency (PNA) news article. For the newcomers reading this, Guo (AKA Guo Hua Ping) is wanted in the Philippines and there are charges of tax evasion and money laundering against her.

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

The Department of Justice (DOJ) on Wednesday confirmed the arrest of former Bamban, Tarlac mayor Alice Guo, also known as Guo Hua Ping, in Tangerang City, Jakarta, Indonesia.

In a statement, the DOJ said Guo was apprehended at 11:58 p.m. on Sept. 3, according to Senior Superintendent Audie Latuheru of the Indonesian Police.

“This development has been verified by our counterparts in Immigration, who have confirmed that Ms. Guo is currently in the custody of the Indonesian Police at Jatanras Mabes Polri,” the DOJ said.

Justice Secretary Jesus Crispin Remulla welcomed the development, saying Guo’s arrest is a testament to the tireless efforts of law enforcement agencies and the strength of international cooperation in bringing fugitives to justice.

“We will ensure that all legal processes are followed to hold her accountable for any crimes committed. The DOJ is committed to pursuing justice and will continue to coordinate closely with Indonesian authorities to facilitate the necessary legal procedures,” he said.

Guo is facing complaints about her alleged involvement in the illegal Philippine Offshore Gaming Operators (POGOs) in the country and questions about her citizenship.

Despite being the subject of an immigration lookout bulletin due to the ongoing investigations, Guo was able to leave the country last July 18.

Guo reportedly headed to Malaysia, arrived in Singapore on July 21, and traveled to Indonesia on Aug. 18.

Guo’s sister, Shiela, and business associate Cassandra Li Ong were earlier arrested in Indonesia and already sent back to the Philippines.

During the Senate Subcommittee on Justice and Human Rights hearing, Shiela admitted she left the country with the dismissed mayor by boat.

Meanwhile, the Bureau of Immigration (BI) is expecting the return of the dismissed mayor to the country anytime soon following her arrest in Indonesia.

“We have immediately forwarded the information to the Department of Justice and the Office of the Executive Secretary. The information has been confirmed by our immigration counterparts in Indonesia, and we are very happy with this development,” BI Commissioner Norman Tansingco said in a statement.

The BI chief also believes Guo’s return to the Philippines will shed light on many questions about her illegal departure, as well as allow her to face the charges filed against her.

Meanwhile, President Ferdinand “Bongbong” Marcos, Jr., welcomed the arrest of Guo and assured the public of the resolution of cases against her.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you expect Alice Guo to tell the truth once she gets questioned by government officials again after her anticipated return here in the Philippines? Do you think mainland China is somehow involved in secretly transporting Guo and companions from the Philippines to overseas?

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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Kadiwa financial aid released to more than 5,000 beneficiaries in Barangay Pamplona Tres, Las Piñas City

August 29, 2024August 21, 2024carlocarrasco

Recently in the City of Las Piñas, the City Government in tandem with the Department of Social Welfare and Development (DSWD) released financial aid to more than five thousand beneficiaries in Barangay Pamplona Tres, according to a social media announcement. Vice Mayor April Aguilar witnessed the distribution.

To put things in perspective, posted below is an excerpt from the City Government’s announcement. Some parts in boldface…

The City of Las Piñas, in collaboration with the Department of Social Welfare and Development (DSWD), successfully distributed Php 2,000 in financial aid to over 5,000 eligible beneficiaries at the Kadiwa ng Pangulo and DSWD Payout on Thursday, August 15 at Verdant Covered Court in Barangay Pamplona Tres. The pay-out event, part of the national Kadiwa ng Pangulo initiative, was aimed at providing economic relief to low-income families across the city.

City Vice Mayor April Aguilar was present, personally overseeing the distribution and engaging with the beneficiaries. In her address, Vice Mayor Aguilar expressed her heartfelt appreciation to President Ferdinand R. Marcos Jr. and the DSWD for their unwavering commitment to uplifting the lives of the less fortunate. She emphasized the importance of this program in ensuring that essential financial support reaches those who need it most, especially in the face of rising costs of living and other economic challenges.

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 many members of your local community qualified as beneficiaries of the national Kadiwa ng Pangulo initiative?

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 2024 2nd quarter economic growth at 6.3%

August 9, 2024August 8, 2024carlocarrasco

The economy of the Philippines grew at a fast 6.3% in the 2^nd quarter (April to June 2024) according to a Philippine News Agency (PNA) news article. The declared quarterly growth rate placed the Philippines ahead of Malaysia, Indonesia and China.

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

Philippine economic growth accelerated to 6.3 percent in the second quarter of the year from 4.3 percent in the same period last year, National Statistician Dennis Mapa said in a briefing on Thursday.

Mapa said economic growth during the period was also higher than the 5.8 percent gross domestic product (GDP) growth recorded in the first quarter of the year.

National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said the latest economic growth makes the Philippines one of the fastest-growing economies in the region.

“This performance keeps our position as one of Asia’s best-performing major emerging economies. For East Asia’s economies that have released their second quarter 2024 GDP growth, we follow behind Vietnam at 6.9 percent while leading Malaysia at 5.8 percent, Indonesia at 5.0 percent, and China at 4.7 percent,” said Balisacan.

Among major economic sectors, industry and services grew by 7.7 percent and 6.8 percent, respectively. Agriculture, forestry, and fishing, however, contracted by 2.3 percent due to the effects of the El Niño phenomenon.

Household final consumption expenditure grew by 4.6 percent while government final consumption expenditure expanded by 10.7 percent.

Balisacan said the increase in government final consumption expenditure was driven by the timely implementation and expanded coverage programs of various social protection, health, and education programs, and preparatory activities for the 2025 national and local elections. Gross capital formation went up by 11.5 percent.

Public construction sustained double-digit growth of 21.8 percent as the government’s infrastructure agencies expedited the rollout of the Marcos Jr. administration’s construction and rehabilitation projects.

Exports of goods and services rose by 4.2 percent while imports of goods and services went up by 5.2 percent.

On track to meet target – “This significant development brings our real GDP growth to 6.0 percent for the first half of the year, keeping us on track to achieve our target growth rate of 6 to 7 percent for 2024,” said Balisacan.

He said the economy would need to grow by at least 6 percent in the second half to attain the lower end of the target for 2024.

Balisacan assured that the government would ensure the benefits of economic growth would be shared equitably.

“President Marcos began his 2024 State of the Nation Address with one of our most urgent priorities: the government will continue its push for food security by managing food inflation with appropriate supply-side measures,” he said.

He said the government was committed to utilizing strategic trade policy to augment insufficient domestic food supplies to meet rising demand.

The government will also expedite the rollout of social protection programs for the poor and vulnerable sectors, including enhancements to the Department of Social Welfare and Development’s Food Stamp Program and the 4Ps Program.

Aside from these, the government will also focus on raising agricultural productivity and improving farmers’ incomes and competitiveness.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the economy of the Philippines has enough momentum to achieve a growth rate of at least 6.5% for the entire 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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POGO Ban would help expedite Philippines’ exit from global financial watchdog’s “gray list” related to money laundering

August 8, 2024July 30, 2024carlocarrasco

In relation to helping the Philippines recover from the many negative effects caused by Philippine offshore gaming operators (POGOs), the declared nationwide ban on POGOs will help expedite the nation’s exit from the “gray list” of a global financial watchdog that has been monitoring jurisdictions for money laundering risks, 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 RECENT BAN on Philippine offshore gaming operators (POGO) would help expedite the country’s exit from a global financial watchdog’s “gray list” of jurisdictions under increased monitoring for money laundering risks, the central bank governor said.

“With the POGO ban, we do see a drop in money laundering, which should help us exit the gray list,” Bangko Sentral ng Pilipinas (BPS) Governor Eli M. Remolona, Jr. told BusinessWorld in a text message.

Last week, President Ferdinand R. Marcos, Jr. ordered a total ban on all offshore gaming operations due to their ties to illicit activities such as financial scams, money laundering, prostitution and human trafficking.

Mr. Marcos directed the Philippine Amusement and Gaming Corp. (PAGCOR) to shutter all POGO facilities by the end of the year.

This comes after the Financial Action Task Force (FATF) in June kept the Philippines in its gray list for a third straight year.

The global watchdog said the country still needs to address three remaining action items, one of which is “demonstrating that supervisors are using anti-money laundering and counterfinancing of terrorism (AML/CFT) controls to mitigate risks associated with casino junkets.”

Mr. Remolona earlier said the Philippines would likely exit the gray list by next year as it still needs to address the remaining deficiencies cited by the FATF.

From 2018 to 2023, the Philippines was among the top five countries in Southeast Asia with money laundering activities added over the five-year period, earlier data from Moody’s showed.

The number of money laundering events added in the Philippines jumped by 45% from 2022 to 2023, it said.

Chester B. Cabalza, founding president of Manila-based International Development and Security Cooperation, said Mr. Marcos’ order to ban POGOs would encourage more “legitimate” investments to enter into the country.

“With the expected ban, the Philippines may be relieved with the gray list tag and re-strategize for fulfilling more legal and moral entertainment investments for the inclusive growth of the country,” he said via Facebook Messenger.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think improvements will be realized gradually over the next twelve months with the ban on POGOs in effect? Do you think that money laundering and crime related to POGOs will go down sharply?

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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Ban on POGOs all over the Philippines declared

July 24, 2024July 23, 2024carlocarrasco

During his 3^rd State of the Nation Address (SONA), President Ferdinand “Bongbong” Marcos, Jr., declared a nationwide ban on all Philippine offshore gaming operators (POGOs), according to a Philippine News Agency (PNA) news article. Marcos pointed out the negative effects POGOs had on the country such as money laundering, scamming, prostitution, human trafficking, kidnapping, and murder to name some.

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

President Ferdinand R. Marcos Jr. has heeded snowballing calls to ban Philippine offshore gaming operators (Pogos) in the country, an industry marred by controversies and illegal activities.

During his third State of the Nation Address (SONA) on Monday, Marcos acknowledged that POGOs have already “ventured into illicit areas furthest from gaming, such as financial scamming, money laundering, prostitution, human trafficking, kidnapping, brutal torture, even murder.”

“The grave abuse and disrespect of our system must stop. Kailangan nang itigil ang panggugulo nito sa ating lipunan at paglalapastangan sa ating bansa (It is now imperative to stop this chaos that is wreaking havoc to our society and desecrating our country). Effective today, all POGOs are banned,” Marcos exclaimed prompting the crowd at the Batasan Pambansa in Quezon City to break into cheers.

The President also ordered the Philippine Amusement and Gaming Corporation to cease operations of POGOs by the end of the year, as well as the Department of Labor and Employment to help workers who will be displaced.

Finance Secretary Ralph Recto and Socioeconomic Planning Secretary Arsenio Balisacan, key figures of the administration’s economic team, have supported the calls to ban POGOs, which mostly cater to clients from mainland China and employ a large number of Chinese-speaking foreign workers.

Several lawmakers and business groups have also urged the President to impose a total ban on POGOs.

Aside from money laundering activities, crimes attributed to the POGOs have expanded over the past years and now include human trafficking, abduction, homicide, illegal detention, kidnap-for-ransom, theft, robbery-extortion, serious physical injuries, swindling, grave coercion, investment scam, cryptocurrency scam, and love scam.

For added insight, watch this GMA Network news video of President Marcos making the declaration.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the newly declared nationwide ban on POGOs will reduce the connected criminal acts? Are there many POGO-connected foreigners living in your local community? Do you think the ban on POGOs will result in lesser Chinese nationals coming into the country? Do you think the closures of POGOs will affect a lot of small businesses that sold products or services to 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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US-Philippines Civil Nuclear Cooperation Agreement (123 Agreement) enters into force

July 18, 2024July 9, 2024carlocarrasco

The Philippines moved some steps forward into a nuclear-powered future as the United States-Philippines Civil Nuclear Cooperation Agreement (also referred to as the 123 Agreement) came into force recently, according to a Philippine News Agency (PNA) news article. This means that the legal framework for potential nuclear projects with American providers has been laid down. It is recalled that the 123 Agreement has been progressing since last year.

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

The United States-Philippines Civil Nuclear Cooperation Agreement, or the 123 Agreement, entered into force on July 2, the US Department of State’s Office of the Spokesperson announced on Tuesday (Manila time).

Signed in November last year, the 123 Agreement will establish a legal framework that allows the export of nuclear fuel, reactors, equipment, and special nuclear material from the US to the Philippines.

The agreement lays the legal framework for potential nuclear power projects with US providers and aims to facilitate Philippine-US cooperation in the safe and secure use of nuclear energy, taking into full account the standards and safeguards set by the International Atomic Energy Agency, as well as in accordance with respective national laws, international agreements, and regulations.

Upon entry into force, the 123 Agreement will allow the transfer of information, nuclear material, equipment, and components directly between the Philippines and the US or through persons authorized by their respective authorities to engage in transfer activities, which will support potential nuclear power projects with US providers.

It will also pave the way for streamlining the licensing requirements for the private sector with respect to investments in nuclear-related intangible transfers of technology.

“Energy security is an increasingly critical global challenge requiring deliberate collaborative efforts, and together, our two countries can make a significant contribution to our shared clean energy goals,” the US Department of State said.

Nuclear energy, it said, could help achieve these global climate change and energy security targets.

The US Department of State said the agreement is part of its efforts to develop the Philippines’ civil nuclear sector.

“Creating a safe, secure, and modern sector requires a skilled workforce, robust regulations, and strong commercial partnerships. Our government is committed to working with the Philippines to advance each of these areas and we look forward to further building our partnership together,” the US Department of State said.

President Ferdinand R. Marcos Jr. earlier said the administration would be glad to pursue nuclear energy as part of the country’s energy mix by 2032 through the partnership forged with American providers.

His administration seeks to increase the country’s renewable energy mix to 35 percent by 2030 and 50 percent by 2040.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think that nuclear power will be more beneficial for the Filipino people and the national economy than solar and wind power? Are you aware that solar and wind power will cost too much money to create abundant energy for 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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Major agreement between Japan and the Philippines formally signed, up for ratification

July 9, 2024July 8, 2024carlocarrasco

A major agreement between Japan and the Philippines pertaining to defense matters and accessibility has been formally signed in the presence of President Ferdinand “Bongbong” Marcos, Jr., at Malacañang Palace, according to a Philippine News Agency (PNA) news article. It should be remembered that Defense Secretary Gilberto Teodoro mentioned this past June that the signing would happen in July. The newly signed agreement is up for ratification in both nations.

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

The Philippines and Japan on Monday signed the Reciprocal Access Agreement (RAA) that would facilitate mutual visits between Filipino and Japanese armed forces for training and joint exercises.

Japanese Foreign Minister Kamikawa Yoko and Defense Secretary Gilberto Teodoro Jr. signed the treaty documents in the presence of President Ferdinand R. Marcos Jr. in a ceremony at Malacañan Palace.

The treaty will have to be ratified by the respective legislative bodies of the Philippines and Japan before it comes into force.

In a courtesy call by Kamikawa and Japan Defense Minister Kihara Minoru to the President, Marcos expressed elation over the signing of the new defense deal.

“Your presence here increases our confidence in the importance that the Japanese government puts on this very important agreement that we have. And I’m very glad that we have come to this day,” Marcos said.

For her part, Kamikawa said the signing of the RAA is “a great achievement” for the two countries deepening bilateral relations.

Meanwhile, Kihara touted the leadership of Marcos and Japanese Prime Minister Fumio Kishida in strengthening the ties of the two countries.

He also vowed to continue working with Teodoro to further enhance the defense cooperation and exchanges of the Philippines and Japan.

The Philippines has been expanding engagements with its allies while also beefing up the capabilities of the Armed Forces of the Philippines amid China’s aggression in the West Philippine Sea.

It has similar defense pacts with the United States and Australia, while another defense deal is being pursued with France.

Upgraded ties – Teodoro, meanwhile, said the partnership between the Philippines and Japan has been “upgraded one level higher”, following the signing of the RAA.

“This is another milestone in our shared endeavor to ensure a rules-based international order to ensure peace and stability in the Indo-Pacific and particularly in our region. Once again we thank the Government of Japan for the assistance rendered to us in several fields,” Teodoro said during his bilateral meeting with Kihara held at the Shangri-la The Fort, Manila in Taguig City.

Teodoro said this landmark deal has added security to the “traditional fields” where Manila and Tokyo have strong ties, particularly economy and trade.

“By adding the vital aspect of security which creates a holistic dimension or adds a holistic dimension to our bilateral relations. It will also add to the multilateral efforts that both our governments are doing to make sure that our region, with respect to international law, we (worked) hand in hand in creating a global architecture which will ensure sustainable peace and stability particularly in our area,” Teodoro said.

The DND chief said Manila is looking forward to more confidence-building measures between the Japanese Self-Defense Force and the Armed Forces of the Philippines, along with their respective defensive departments.

Meanwhile, Kihara extended his sincere appreciation for the warm welcome he had received from the Teodoro and the DND.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the newly signed agreement will be approved soon in both Japan and the Philippines? Do you think China will react negatively towards the new 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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New hotel in Parañaque City inaugurated

July 3, 2024June 23, 2024carlocarrasco

Recently in the city of Parañaque, the newly opened Grand Westside Hotel located in Entertainment City was inaugurated with the presence of President Ferdinand “Bongbong” Marcos, Jr., who expressed confidence about its tourism and economic prospects, according to a Philippine News Agency (PNA) news article.

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

President Ferdinand R. Marcos Jr. on Saturday said the newly opened Grand Westside Hotel in Paranaque City, tagged the biggest hotel development in the country yet, would be a major economic and tourism boost.

During the inauguration of Megaworld’s Grand Westside Hotel, Marcos said the 19-story establishment with over 1,500 rooms would not only strengthen the government’s tourism campaign but would also generate more jobs and business opportunities for Filipinos.

Marcos said the hotel’s addition to Philippine tourism is particularly noteworthy in light of the sector’s “remarkable” growth, which contributed 8.6 percent to the country’s gross domestic product in 2023.

“Thanks to this hotel, we can do more. Not only can we accommodate the resurging number of local and international tourists coming to this side of Metro Manila, but we can also expect our Entertainment City to become better known and even more distinguished, elevating its status to more potential visitors in the coming years,” the President said in his speech.

Marcos disclosed that other developments from the real property giant are underway, including the 1,500-seater Grand Opera House also in Paranaque, more theaters and a gaming complex, among other things.

“With all these, we foresee not only the entry of more tourists but also the generation of more jobs, of new businesses and greater opportunity. In fact, [while] many have benefitted from the actual construction of these [properties], around 20,000 direct and indirect jobs will still be created throughout the operation of this hotel in the years to come,” he said.

The President said he is looking forward to Megaworld’s triumphs that will “undoubtedly contribute to the new Philippines, ang Bagong Pilipinas.”

Let me end this post by asking you readers: What do you think about this recent development? If you are a resident of Parañaque, are you delighted with the Grand Westside Hotel operating in the 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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