Tag: Philippine News Agency (PNA)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

President Marcos approves flagship infrastructure projects of Build Better More (BBM) program worth P9 trillion

President Marcos approves flagship infrastructure projects of Build Better More (BBM) program worth P9 trillion

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Philippine infrastructure will continue to develop and improve over time as almost two hundred projects worth P9 trillion have been approved recently by President Ferdinand “Bongbong” Marcos, Jr., according to a Philippine News Agency (PNA) news article. This is the latest about the Build Better More (BBM) program.

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

President Ferdinand R. Marcos Jr. has approved 194 high-impact infrastructure flagship projects (IFPs) worth PHP9 trillion, National Economic and Development Authority (NEDA) announced Thursday.

Marcos, who chairs the NEDA Board, greenlit these projects in a meeting with NEDA Secretary Arsenio Balisacan and other members of the board at Malacañan Palace.

“The approved new list of infrastructure flagship projects includes a total of 194 projects amounting to about PHP9 trillion,” Balisacan announced in a Palace press briefing.

Of the 194 projects, Baliscan said 123 projects were initiated during the Marcos administration while the remaining 71 projects were from the administration of former President Rodrigo R. Duterte.

“…The basis for their inclusion there is, this has been approved and this has been before and they have been already implemented. In other words, they have started and so, we cannot discontinue any of those projects,” he said.

Balisacan said these projects will showcase the administration’s “Build Better More” infrastructure program, which is among the priorities under the 8-Point Socioeconomic Agenda.

He noted that majority of these infrastructure flagship projects are in physical connectivity and water resources which include projects in irrigation, water supply and flood management.

The list also includes projects in digital connectivity, health, power and energy, agriculture and other infrastructure.

“Some of the new projects included in the new list are the Panay Railway Project; Mindanao Railway Project III; North Long Haul Railway; San Mateo Railway; UP-PGH Diliman Project; Ninoy Aquino International Airport Rehabilitation Project; Ilocos Sur Transbasin Project; and the Metro Cebu Expressway,” Balisacan said.

Balisacan said the IFPs are seen to address the binding constraints to business investment and expansion that will create more high quality and resilient jobs.

“IFPs shall be prioritized under the government’s annual budget preparation and enjoy the benefits of expedited issuance of applicable permits and licenses consistent with current legal frameworks,” he added.

He said the projects will adopt an optimal mix of financing from various development partners or official development assistance (ODA), the national government and general appropriations, and the private sector, particularly public-private partnerships.

Balisacan said 45 out of the 194 projects are seen to be financed through partnerships with the private sector.

“The government shall harness the financial and technical resources of the private sector which allows the public sector to allocate its funds for greater investment in human capital development, especially to address the scarring in health and education due to the pandemic, and provide targeted assistance that protects vulnerable sectors from economic shocks,” he said.

Joint Venture guidelines – Meanwhile, Baliscan also announced that the NEDA Board also approved the proposed amendments to the 2013 NEDA Joint Venture Guidelines.

“The amendments aim to enhance competition for projects under joint ventures, ensure better performance of private sector participants, and improve check and balances to ensure that the project is technically and financially sound,” he said.

He said the amendments will also help ensure that the guidelines are aligned with the provisions of the recently amended Build Operate Transfer (BOT) Law Implementing Rules and Regulations, and the proposed amendments to the BOT Law or PPP Act pending in Congress but expected to be passed by this year.

“What we are addressing there is: Number one is to simplify the joint ventures. Again, to make sure that the joint ventures can move efficiently and quickly and will address the public interest, concerns. And so, the amendments will involve putting in place features that improve the competitive processes in the selection of joint venture partners. So, in other words hindi “lutong Macau” iyong mga JVs kundi (the JVs were not rigged) you know, properly completed by or offered in competition,” he added.

Economic transformation – Baliscan described the approval of the new IFP list and the amendments to the NEDA JV Guidelines as a ”giant step” towards the administration’s goal of elevating the country’s competitiveness in promoting the Philippines as a prime investment destination in the region.

Although the country has “much work to do” to catch up with its neighbors in the region, Baliscan said pursuing high-impact initiatives will encourage greater local and foreign investment and private sector participation in infrastructure development.

Let me end this piece by asking you readers: What is your reaction to this new development? Do you think that the nation’s infrastructure improvement will lead to better transportation accessibility as well as reinvigorating the economy?

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

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

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

I Love Israel: 65 years of Israel-Philippines friendship

I Love Israel: 65 years of Israel-Philippines friendship

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Two wanted foreigners connected in Luffy case arrested in BF Homes, Parañaque

Two wanted foreigners connected in Luffy case arrested in BF Homes, Parañaque

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Recently in Parañaque City, two wanted foreigners allegedly connected with the Japanese burglary gang leader Yuki “Luffy” Watanabe were arrested by law enforcers in BF Homes 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 report. Some parts in boldface…

Two more suspects connected with Japanese burglary ring leader Yuki “Luffy” Watanabe were arrested in Parañaque City, the Bureau of Immigration (BI) reported on Saturday.

Commissioner Norman Tansingco identified the Japanese nationals as Fujita Kairi, 24, and Kumai Hitomi, 25, who were apprehended in BF Homes by operatives of the BI’s Fugitive Search Unit on Friday afternoon.

The two have standing warrants of arrest for theft issued by the Tokyo Summary Court in September 2022. They are detained at the BI facility in Taguig City pending their deportation.

“This is a major breakthrough in the case, as we have finally arrested more suspects involved in this major case in Japan,” Tansingco said in a statement. “They will finally be facing their crimes in their homeland.”

Watanabe and accomplice Tomonobu Saito were deported on Feb. 8, the day after fellow fugitives Toshiya Fujita and Kiyoto Imamura, both 38, were sent home.

The above report ended stating that the gang was involved in at least twenty robberies that happened in Japan in the past twelve months, as well ass the murder and robbery of a 90-year-old person in the city of Komae.

Let me end this piece by asking you readers: What do you think about this recent development? If you are a Parañaque City resident, are you convinced that there could be more wanted criminals from abroad who could be hiding within your local community right now? If you have been following the developments about the Luffy case, do you know where exactly in BF Homes did the arrests happen?

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

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

MMDA to hold dry run for single ticketing system in first or second week of April 2023

MMDA to hold dry run for single ticketing system in first or second week of April 2023

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The proposed single ticketing system for Metro Manila will be executed in the form of a dry run by the Metropolitan Manila Development Authority (MMDA) during the first or second week of April 2023, according to a news article published by the Philippine News Agency (PNA).

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

The Metropolitan Manila Development Authority (MMDA) is set to hold a dry run for the implementation of the single ticketing system in the first or second week of April.

MMDA acting chair Don Artes said Thursday seven local government units in Metro Manila have expressed their readiness for the dry run. These are the cities of San Juan, Muntinlupa, Quezon City, Valenzuela, Parañaque, Manila, and Caloocan.

“The single ticketing system across Metro Manila is nearing full implementation. There is a need to conduct a dry run to increase public awareness,” Artes said during the Metro Manila Council (MMC) meeting at the MMDA’s new head office in Pasig City.

To recall, Metro Manila local chief executives adopted the single ticketing system through the approval of the Metro Manila Traffic Code of 2023, which provides for a system of interconnectivity among government instrumentalities involved in the transport and traffic management in the metropolis with harmonized fines and penalties.

Artes added that the Land Transportation Office drafted a memorandum of agreement (MOA) regarding interconnectivity with LGUs and data privacy agreement.

“LTO Chief Assistant Secretary Jay Art Tugade has committed to submit the MOA tomorrow,” he added.

MMC president and San Juan City Mayor Francis Zamora emphasized the importance of a single ticketing system.

“The implementation of the single ticketing system will highly benefit our motorists because they have the option to pay through online channels for their violations,” Zamora said.

Under the single ticketing system, it will be easier for traffic violators in the National Capital Region to settle their penalties through Bayad Centers all over the country or through mobile apps.

Present during the meeting were Mayors Vico Sotto of Pasig, Ruffy Biazon of Muntinlupa, Weslie Gatchalian of Valenzuela, Emi Calixto-Rubiano of Pasay, Jeannie Sandoval of Malabon, and Miguel Ponce III of Pateros.

Let me end this piece by asking you readers: What is your reaction to this new development? Do you think the single ticketing system will prove to be effective and helpful? If you were apprehended for a traffic violation and get slapped with a penalty, do you prefer to settle the penalty by paying through mobile apps and Bayad Centers?

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

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

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

President Marcos says special powers not needed to curb inflation

President Marcos says special powers not needed to curb inflation

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

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

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

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

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

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

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

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

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

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

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

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

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

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

2023 Barangay and Sangguniang Kabataan Elections (BSKE) filing of Certificates of Candidacy (COCs) set July 3 to 7, campaign period set October 19 to 28

2023 Barangay and Sangguniang Kabataan Elections (BSKE) filing of Certificates of Candidacy (COCs) set July 3 to 7, campaign period set October 19 to 28

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Recently, the Commission on Elections (COMELEC) announced that the filing of Certificates of Candidacy (COCs) for this year’s Barangay and Sangguniang Kabataan Elections (BSKE) will start on July 3 until July 7, 2023, according to a Philippine News Agency (PNA) report. The BSKE itself will happen on October 30, 2023.

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

Filing of Certificates of Candidacy (COCs) for the Oct. 30 Barangay and Sangguniang Kabataan Elections (BSKE) will begin July 3.

In Resolution No. 10899, the Commission on Elections (Comelec) set the filing period from July 3 to 7.

Campaign activities are prohibited from July 8 to Oct. 18 while the campaign period will be on Oct. 19 to 28.

It will be illegal to remove or deface lawful propaganda materials; use or post illegal campaign materials; use armored land, water or air crafts; deploy police officers as bodyguards; release public funds; and construct village-funded roads and bridges during the campaign period.

During the election period from July 3 to Nov. 14, it is forbidden to bear or carry firearms; use security personnel; buy and sell votes; transfer civil service employees; and suspend local elective officials.

On the eve of election day, campaigning shall be banned as well as selling, buying, serving, and taking intoxicating liquor.

Voting will start 7 a.m. and end 3 p.m.

The counting and canvassing of votes as well as the proclamation of winning candidates shall take place immediately after the close of voting.

Let me end this piece by asking you readers: What is your reaction to this new development? If you are indeed eligible to vote this year, are you willing to participate in the Barangay and Sangguniang Kabataan Elections (BSKE) this October? Did you notice signs of premature campaigning within your local community?

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

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

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

AIA Philippines’ investment management arm expresses optimism of robust growth of the Philippine economy

AIA Philippines’ investment management arm expresses optimism of robust growth of the Philippine economy

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Recently, the investment management arm of AIA Philippines expressed confidence that the Philippine economy will continue to have robust growth in connection with what they claim to be an expanding manufacturing sector, according to news article published by the Philippine News Agency (PNA).

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

An official of the investment management arm of AIA Philippines is optimistic on the robust growth of the domestic economy as the manufacturing sector continues to expand.

In a briefing on Thursday, AIA Investment Management and Trust Corporation Philippines (AIAIM Philippines) chief executive officer Angie Pacis said the country’s manufacturing sector is expected to continue posting expansion following the seven-month high manufacturing index in January 2023.

“Notwithstanding the slight weakening of the business confidence and consumer confidence, businesses will still be on a growth track,” she said.

The S&P Global Manufacturing Purchasing Managers Index (PMI) hit 53.5 in the first month this year. An index of 50 and above indicate expansion while those below 50 indicate contraction.

Pacis said forecasts point to continued 50-level index in the coming months.

Pacis also identified demographic dividends as among the factors that will help boost domestic growth this year given the large number of young people who are part of the workforce.

“It’s a young population, it’s a big population with a growing middle class that is actually becoming stronger. Because of that, we will continue to attract investments notwithstanding some of the structural problems,” she added.

These factors are seen to boost one-year-old AIAIM Philippine business, which currently offers three unit investment trust funds (UITFS) namely AIA Peso Adventurous Fund, AIA Peso Balanced Fund and AIA Peso Conservative Fund.

Pacis said the products they are offering are exclusively available for AIA Philippines policy holders for now, while the assets amounting to PHP155 billion they currently have will be handled purely without catering to outside investors.

Let me end this piece by asking you readers: What is your reaction to this new development? Were you able to understand the explanations from AIA Philippines investment management arm?

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

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

Cambodia a potential new source of rice for the Philippines

Cambodia a potential new source of rice for the Philippines

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While living here in the Philippines doing your daily chores and fulfilling other objectives, do you still remember how much money did you spend buying rice grain for your household over the last six months? Do you find the current prices of rice expensive nowadays? As far as rice is concerned, the nation of Cambodia could become the next new source of rice grain for the Philippines, according to a news article published by the Philippine News Agency (PNA).

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

Cambodia is exploring opportunities to directly export rice to the Philippines, offering an alternative and cheaper source of rice for the country.

Department of Trade and Industry (DTI) Secretary Alfredo Pascual met with a Cambodian delegation on Thursday, led by chief executive officer of the state-owned Green Trade Company Chan Sokty and the president of the Cambodia Rice Federation Okhna Chan Sokheang.

Green Trade is the counterpart of DTI’s Philippine International Trading Corp. (PITC).

The Cambodian delegates are also exploring exporting rice through a government-to-government arrangement between Green Trade and PITC.

“They are still in the fact-finding stage. They are surveying our markets,” Pascual told reporters.

Pascual said Cambodia has a rice surplus of 50 percent of its total rice production, and the Southeast Asian country intends to sell it directly to neighboring countries and also in Europe.

Cambodian rice can enter the Philippine market at 35 percent tariff rate.

Pascual added the Cambodian delegates said they can commit to supply 3 million metric tons of rice to the Philippines, which is the level of imported rice by the country in 2022.

Earlier, Go Negosyo founder and ASEAN Business Advisory Council chair Joey Concepcion said Cambodia expressed intention to directly export unmilled rice to the Philippines on the sidelines of the ASEAN Summit in November 2022.

Concepcion then said Cambodia exports unprocessed rice to Vietnam, wherein the country processes the rice before exporting to other countries like the Philippines.

More than 80 percent of the country’s rice imports are sourced from Vietnam, according to the Bureau of Plant Industry.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think rice imported from Cambodia will surely bring down the local rice prices?

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

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

Philippines achieves 7.6% economic growth in 2022

Philippines achieves 7.6% economic growth in 2022

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The Philippines’ recovery from the downturn of the COVID-19 crisis continued strongly as it has been confirmed that the national economy expanded by 7.6% for the entire year of 2022 which includes a 7.2% 4th quarter economic growth, according to a news article by the Philippine News Agency (PNA). Take note that the Philippines is expected to grow between 6.5% and 7% in 2023 according to the national authorities while there are signs that the United States economy will fall into a recession this year. Regardless, the Philippines ended 2022 competitively in terms of economic expansion among its Asian neighbors.

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

The Philippine economy expanded by 7.2 percent in the last quarter of 2022, bringing full-year growth to 7.6 percent, driven by increased economic activity mainly from pent-up demand as it fully reopened amid elevated inflation rate.

National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said among the major emerging economies in the region that have released their fourth-quarter gross domestic product (GDP) growth, the Philippines grew the fastest, followed by Vietnam at 5.9 percent and China at 2.9 percent.   

“Our improved Covid-19 (coronavirus disease 2019) risk management and the easing of mobility restrictions have created a positive economic outlook, boosting economic activity and creating more jobs despite external headwinds,” he said in a briefing on Thursday. 

Balisacan said measures being implemented by the government to further buoy the economy’s recovery are working.

“Our strong economic growth performance for 2022 proves that our calibrated policies and strategies have helped put us on the path to recovery and on track to achieving our aspiration for an inclusive, prosperous, and resilient society by 2028,” he said.

Balisacan said pent-up demand drove growth in the fourth quarter as the economy was fully reopened during the period, with household consumption accounting for around three-fourths of domestic output, and investments contributing around a fifth.

“The improvements in labor market conditions, increased tourism, revenge and holiday spending, and resumption of face-to-face classes supported growth in the quarter, further reflecting a solid rebound in consumer and investor confidence in the economy,” he said.

Balisacan said had it not been for the elevated inflation rate, which rose to its highest since November 2008 last December when it accelerated to 8.1 percent, “growth could have been higher by another perhaps 1 to 2 percentage points.”

“It shows how overall demand is sensitive to inflation,” he added.

In terms of the volume of economic activities, Balisacan said domestic growth has recovered for many sectors, except for others such as tourism.

“(But) in so far as per capital income… we haven’t fully recovered yet,” he said.

Balisacan said the government is firm on ensuring that quality jobs will be available to Filipinos to lessen their need to work abroad.

“Inclusive growth across the archipelago will be our vehicle for reducing poverty incidence from 18 percent of the population in 2021 to a single-digit level by 2028,” he said.

National Statistician Dennis Mapa said 2022 full year GDP growth of 7.6 percent exceeded the government’s 6.5 to 7.5 percent growth assumption for the year and the highest after the 8.8 percent in 1976.

Mapa said the fourth-quarter growth, slower than the 7.6 percent in the previous quarter, was driven by the wholesale and retail trade, repair of motor vehicles and motorcycles, financial and insurance activities and retail estate and ownership of dwellings boosted domestic growth.

He said domestic demand remained strong, with the household final consumption expenditure (HFCE) rising by 2.1 percent quarter-on-quarter, led by the restaurants and hotels, food and non-alcoholic beverages, and miscellaneous goods and services. Year-on-year expansion of HFCE stood at 7 percent.

Among the major economic industries, Mapa said agriculture, forestry, and fishing contracted by 1.7 percent because of the lower output of sugarcane, palay (rice), and poultry and egg production.

Meanwhile, Balisacan said the government is doing pro-active assessment of the current situation to address the elevated inflation rate in the country, which is expected to go back to within the government’s 2 to 4 percent target band by the second half of this year.

He said the government continues to allow the importation of several food items to boost domestic supply, adding that not doing so will hurt both the consumers and domestic growth.

Let me end this piece by asking you readers: What is your reaction to this new development? Do you believe that the economy of the Philippine economy will grow between 6.5% to 7% this year? Do you think that more foreign tourists coming into the country will be able to help the nation achieve its economic growth targets this year? Apart from what was already mentioned, what do you think the national government should do to combat inflation? Do you think that the lower income tax for middle income earners will make a positive contribution to economic growth?

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

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

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