PNA.gov.ph – Page 24 – Author Carlo Carrasco

Christmas tree at Las Piñas City Hall lighted

December 12, 2023December 8, 2023carlocarrasco

Recently in the City of Las Piñas, the City Government officially lighted the Christmas tree at City Hall which was attended by several people, according to a Philippine News Agency (PNA) article. The event marked the launch of their special program titled “Love Las Piñas Christmas.”

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

The festive spirit of the holiday season shone brightly in Las Piñas City as the local government, led by Mayor Imelda Aguilar and Vice Mayor April Aguilar, held its much-anticipated tree lighting ceremony, and the launch of “Love Las Piñas Christmas.”

The event, held on Thursday night at the City Hall Quadrangle, marked a significant moment for the city, symbolizing not only the joy of the season but also the unity and resilience of the Las Piñas community.

*City Government officials led by Mayor Imelda Aguilar (front row) and many others posed with the Christmas tree and decorations at City Hall (in the background). (photo source – Las Piñas PIO)*

The ceremony was attended by several city hall officials, alongside a large gathering of residents, all eager to partake in the festive cheer.

The mayor, in her address, emphasized the importance of unity and community spirit, especially during the festive season despite the recent pandemic.

The ceremony featured a spectacle of lights and music, beginning with a chorale performance from the students of the Dr. Filemon C. Aguilar Memorial College of Las Piñas and a duet performance from Las Piñas City’s Monterozo twins that showcased local talent, adding to the evening’s entertainment and festive atmosphere.

*The Christmas tree at City Hall. (photo source – Las Piñas PIO)*

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? Were you able to visit City Hall at night and see the Christmas tree and decorations around? Do you think Christmas in the city will be happier than last 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.

+++++

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

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

Philippine inflation eases to 4.1% in November 2023

December 11, 2023December 6, 2023carlocarrasco

Inflation here in the Philippines continued to drop and eventually landed at 4.1% for the month of November 2023 and there were several factors behind it, according to a Philippine News Agency (PNA) news report.

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

The country’s headline inflation further eased to 4.1 percent in November this year, the lowest recorded since the 4 percent in March 2022, the Philippine Statistics Authority (PSA) said.

In a briefing on Tuesday, National Statistician Dennis Mapa said the headline inflation last month was significantly lower than the 8 percent recorded in November last year and the 4.9 percent seen in October this year.

Core inflation, which excludes volatile oil and food items, also decelerated to 4.7 percent from 5.3 percent in October.

PSA data shows the downtrend was primarily brought about by the lower year-on-year growth rate of the heavily-weighted food and non-alcoholic beverages at 5.7 percent in November 2023 from 7 percent in October 2023.

Food inflation slowed to 5.8 percent, the lowest recorded since the 5.2 percent in May 2022.

This is due to the deflation in vegetables (-2 percent from 11.9 percent) and lower inflation of fish, meat, sugar, bread and other cereals, and fruits.

Also contributing to the downtrend in the overall inflation in November was the deflation in transportation (-0.8 percent from 1 percent) and slower inflation in restaurant and accommodation services (5.6 percent from 6.3 percent).

The restaurants and accommodation services index with a slower inflation rate of 5.6 percent in November from 6.3 percent in the previous month also contributed to the downtrend of the overall inflation.

Year-to-date, headline inflation was at 6.2 percent while core inflation settled at 6.8 percent.

Inflation in the National Capital Region (NCR) also slowed to 4.3 percent from 4.9 percent in October. For areas outside NCR, headline inflation decelerated to 4.1 percent in November from 4.9 percent the previous month. Inflation for the bottom 30 percent households also eased to 4.9 percent from 5.3 percent.

In a separate statement, the National Economic and Development Authority (NEDA) attributed the drop in inflation to the timely implementation of strategies to stabilize food supply amid the anticipated domestic and external headwinds in the coming months.

“With the right interventions in place, including the proper and timely deployment of trade policy, we are confident that we can effectively manage inflation and prevent unnecessary upticks in prices of goods and commodities to safeguard the purchasing power of Filipino families, especially those from the most vulnerable sectors,” NEDA Secretary Arsenio Balisacan said.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think inflation will ease further and go below 4% by January 2024? Does the easing of inflation make you more confident about your economic prospects for 2024?

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

+++++

World Bank sees strong economic growth for the Philippines this year and in 2024

December 7, 2023December 5, 2023carlocarrasco

Recently the World Bank announced that the economy of the Philippines will continue to grow strongly this year and next year, according to a Philippine News Agency (PNA) news report.

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

The World Bank on Tuesday said the Philippine economy is expected to continue to post strong growth but fully implementing key reforms to boost investments is crucial to sustain growth.

“We anticipate that the Philippine economy will continue to exhibit strong performance in the next few years,” World Bank country director for Brunei, Malaysia, the Philippines and Thailand Ndiame Diop said in briefing for the presentation of the Philippines Economic Update (PEU) December 2023 edition.

“This growth will be propelled by a healthy labor market and declining inflation, which will stimulate robust household consumption,” he said.

For this year, the World Bank expects the Philippine economy to grow by 5.6 percent and edge up to 5.8 percent in 2024.

The services sector is anticipated to be the main growth driver supported by the ongoing recovery of the tourism sector and the consistent performance of the information technology and business process outsourcing industry.

“We expect that the full implementation of several investment reforms will enhance the country’s competitiveness to attract foreign investment, strengthening the country’s global growth prospects,” said Diop.

The Philippine economy grew by 5.9 percent in the third quarter of the year, bringing the year-to-date economic expansion to 5.5 percent.

“Despite the challenging global environment that resulted in a slowdown for many countries in the region, the Philippines stands out as among the top performers,” Diop added.

He said this can be attributed to the country’s resilient domestic demand which helped mitigate the impact of external headwinds.

Inflation, meanwhile, is forecast to settle at 5.9 percent this year and ease to 3.6 percent in 2024.

Policy recommendations – Diop pointed out that moving forward, full implementation of key forms is needed to mitigate the impact of high inflation amid volatility in global commodity prices and high cost of borrowings to stimulate private investment, promote job creation and reduce poverty.

These include the amendments to the Public Services Act, Retail Trade Liberalization Act, the Foreign Investment Act and amendments to the implementing rules and regulations of the Renewable Energy Act allowing foreign ownership of renewable energy projects.

World Bank senior economist Ralph Van Doorn said that in the short term, domestic policy priorities include containing elevated inflation and providing assistance to vulnerable sectors.

Van Doorn said enhancing forecasting and planning to help stabilize food prices, reducing market volatility and ensuring a consistent and reliable food supply remains fundamental to reducing inflation in the short term.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the World Bank is correct with its findings about the economy of the Philippines?

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

+++++

Philippines’ credit ratings affirmed by S&P Global Ratings

December 4, 2023November 30, 2023carlocarrasco

The credit ratings of the Philippines for both long-term and short term were affirmed by the US-based S&P Global Ratings which also saw stronger economic growth for the country in the next few 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…

United States-based S&P Global Ratings on Wednesday affirmed the Philippines’ ‘BBB+’ long-term and ‘A-2’ short-term sovereign credit ratings, citing the country’s sustained economic recovery due to the government’s ongoing efforts to address infrastructure gaps and improvements in the business climate.

“The stable outlook reflects our expectation that the Philippine economy will maintain healthy growth rates and the fiscal performance will materially improve over the next 24 months,” S&P Global said in a report.

According to S&P, the country’s gross domestic product (GDP) is projected to grow by 5.4 percent this year, reflecting the impact of high base and the slower growth of the world economy.

The report also showed that Philippine economic growth is projected to accelerate to 5.9 percent in 2024, 6.2 percent in 2025 and 6.4 percent in (2026).

The credit rater expects that the Philippines’ economic growth will remain well above the average among its peers “due to the government’s ongoing efforts to address infrastructure gaps and improvements in the business climate through regulatory and tax reforms, which will further support expansion in economic productivity.”

It also recognized the government’s efforts to prioritize infrastructure development and fiscal measures and cited crucial reforms such as the public-private partnership (PPP) framework and the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act.

“The Philippine government has generally enacted effective and prudent fiscal policies over the past decade. Improvements to the quality of expenditure, manageable fiscal deficits, and low general government indebtedness testify to this. This track record of sustainable public finances helped the government accumulate fiscal resources to respond to the pandemic,” the report said.

It also underscored the importance of tax reforms in ensuring that public finances remain sustainable, while infrastructure and social needs are addressed.

S&P said the general government (GG) deficit is estimated to decline and to settle at 3.8 percent of GDP in 2023, from 4.4 percent in 2022.

“We believe the fiscal shortfall will continue to narrow over the coming years while the economy regains its footing and the government scales back stimulus measures. We expect the medium-term fiscal framework (MTFF) revealed by the Marcos administration last year to guide the consolidation process,” it said.

The report also highlighted the country’s solid household and corporate balance sheets and sizable remittance inflows, and expects foreign direct investments to remain stable this year.

However, S&P said it may lower the country’s ratings if economic recovery falters, if general government debt exceeds 4 percent of GDP, if net debt stock exceeds 60 percent of GDP or if interest payments exceed 15 percent of revenue on a sustained basis.

“We may raise the ratings if the economy recovers much faster than we expect, and the government achieves more rapid fiscal consolidation,” it said.

Let me end this piece by asking you readers: What do you think about this recent development? Are you satisfied with what was accomplished this year with regards to foreign tourist arrivals and the related revenues? Do you think the Philippine economy will continue to grow stronger each year until 2026? Do you believe in the findings of S&P Global Ratings?

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

+++++

Philippines finally surpasses 2023 foreign tourist arrivals target

December 1, 2023November 29, 2023carlocarrasco

Recently the Department of Tourism (DOT) announced that their set target of 4.8 million foreign tourist arrivals for 2023 has finally been reached and already hundreds of billions of Pesos have been generated, according to a Philippine News Agency (PNA) news report. To say the least, the foreign tourist arrivals-related numbers achieved by the Philippines this year is a tremendous improvement over what were achieved in 2022 and there are still a few weeks left before 2023 closes.

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

The Philippines has recorded more than 4.82 million foreign visitor arrivals, including Filipinos based overseas, breaching its target even before year end, Department of Tourism (DOT) Secretary Christina Frasco said Tuesday.

DOT data show that as of Nov. 28, a huge chunk of foreign arrivals comes from South Korea with 1,275,887 foreign visitors and 4,231 overseas Filipinos for a total of 26.46 percent.

It is followed by the United States with 923,409 foreign visitors and 123,828 overseas Filipinos and Japan with 323,029 and 49,299 overseas Filipinos.

Other international arrivals in the top 10 come from Australia, China, Canada, Taiwan, Singapore, United Kingdom and Malaysia.

The foreign arrivals have brought PHP404 billion to the economy.

Citing a report by economic managers, Frasco said this manifests that Philippine tourism is the second highest driver of economic growth for the Philippines.

“This cements our position as one of the strongest pillars of the Philippine economy that employs no less than 5.35 million Filipinos in the tourism industry sector, ensuring jobs, livelihood, and the well-being of communities all over the country,” she added.

Let me end this piece by asking you readers: What do you think about this recent development? Are you satisfied with what was accomplished this year with regards to foreign tourist arrivals and the related revenues? Are you confident that the Philippines is on-track to becoming a major tourism player in Asia by the year 2028? Do you trust the Department of Tourism more now that they were able to hit their 2023 targets already? Do you think foreign tourist arrivals here in the Philippines will reach the 5,000,000 mark before the end of the year? Could it be possible that the gains of Philippine tourism will help the nation achieve at least 6% economic growth this year?

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

+++++

Foreign tourist arrivals in the Philippines about to reach 2023 target

November 28, 2023November 26, 2023carlocarrasco

Philippine tourism is back in the spotlight once again as the Department of Tourism (DOT) headed by its secretary Cristina Frasco announced that the 2023 foreign tourist arrivals target of 4.8 million is about to reached and the tourism sector has contributed more than P400 billion to the national economy, according to a Philippine News Agency (PNA) news article.

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

The tourism sector is the second highest driver for economic growth during the first half of the year, a result of President Ferdinand R. Marcos Jr.’s focus on the industry.

Department of Tourism Secretary Cristina Frasco said on Saturday that tourism has so far contributed PHP404 billion to the economy and has reached 99 percent of its goal of 4.8 million international arrivals for 2023.

The improving employment rate is the top contributor to the economy while the increase in investment registration activities and students coming back to school follow tourism.

“I am also here to deliver the good news under the President’s focus of prioritizing tourism. Tourism has emerged as one of the strongest pillars of our economy. According to our national economic managers, tourism is the second top highest driver for economic growth in the first six months of this year,” Frasco said during the opening of the 2nd North Luzon Tourism Expo at Camp John Hay in Baguio City.

She said for Marcos, tourism is a priority “and for that very reason, we have seen the strides we have accomplished in a year.”

Among the government support for the tourism industry are at least 158 kilometers of roads rehabilitated and in 2024, there will be more improvements in airports, Frasco said.

“The flight portfolio of our major international gateways is gradually recovering and we have increased the tourism experience across the country by building tourist rest areas (TRA) across Luzon, Visayas, and Mindanao,” Frasco said.

She said the TRA is one of the ways the government wants to extend its welcome to tourists by giving them a special experience.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think that the DOT has done a good job making tourism a more vibrant and more economic sector this year? Has the increase of foreign tourist arrivals this year benefited your business? Do you think that the foreign tourist arrivals will reach 5,000,000 by the end of 2023?

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

+++++

Australia’s Mileham and Philippines’ Burgos win 2023 Asia Triathlon Duathlon Championship elite titles

November 28, 2023November 27, 2023carlocarrasco

This past weekend at the New Clark City Sports Complex in Pampanga, Samuel Mileham of Australia and Erika Burgos of the Philippines won the elite titles of the 2023 Asia Triathlon Duathlon Championship (also referred to as Asian Duathlon Championship), according to a sports news report published by the Philippine News Agency (PNA).

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

Australian Samuel Mileham topped the men’s elite category of the 2023 Asia Triathlon Duathlon Championships at New Clark City Sports Complex here Sunday.

The 25-year-old native of Perth finished the 10K (run)-40K (bike)-5K (run) race in 1 hour, 53 minutes and 7 seconds.

“I’m lucky to be given the opportunity to join this competition and I’m happy I won,” said the 6-foot-1 Mileham, who finished second behind Uzbekistan’s Ayan Beisenbayev during the 2022 edition of the tournament in Bahrain.

Bahrain’s Moussa Karich settled for the silver medal with a time of 1:54:49, improving on his fourth-place finish last year.

“This is my first tournament after my injury so I’m satisfied with my performance,” Karich said, referring to (his) previous back problem.

Mileham and Karich are setting their sights on the 2024 World Triathlon Multisport Championship scheduled Aug. 15 to 25 in Townsville, a coastal city in northeastern Queensland, Australia.

“Yes, it would be nice to win again,” Mileham, a duathlete for 13 years now, said.

Mileham’s teammate, Matt Smith, grabbed the bronze medal in 1:55:19.

Cambodian Mickael Chaumond (1:55:37) and Japanese Fumiya Tanaka (1:55:47), ranked fourth and fifth, respectively.

Philippine team members Raymund Torio and John Chicano also made it to the top 10 of the tournament organized by the Triathlon Philippines (TriPhil) headed by Ramon Marchan.

Torio (1:56:05) placed sixth, while the two-time Southeast Asian Games champion Chicano (1:56:46) was 10th among 22 entries.

“I’m glad because God gave me the chance to be the No. 1 Filipino finisher in this race,” said the 35-year-old Torio, who was born and raised in Lingayen, Pangasinan.

Seyed Mohammad Hosseini (Iran) clocked 1:56:30 for seventh place, Saud Alzaabi (United Arab Emirates) was eighth in 1:56:36, and Edward Langdon (Australia) ninth in 1:56:37.

Meanwhile, the Philippines had a 1-2 finish in the women’s elite category.

Erika Burgos bagged the gold medal in 2:17:48 while Merry Joy Trupa took the silver in 2:18:55.

Indonesians Maharani Azhri Wahyuningtyas (2:21:30), Zahra Bulan (2:23:28), and Eva Desiana (2:24:25) placed third, fourth, and fifth, respectively.

The 2023 Asia Triathlon Duathlon Championship was organized by Triathlon Philippines (formerly Triathlon Association of the Philippines) in cooperation with BCDA and NCC. Sponsored by the Philippine Sports Commission, Asian Center for Insulation, Gatorade – our official hydration partner, Standard Insurance, Fitbar and Medical City Clark.

For future events and key updates from Triathlon Philippines visit https://www.facebook.com/TriPhil.

+++++

America-Philippines nuclear deal opens opportunities for investments and energy

November 22, 2023November 20, 2023carlocarrasco

Recently a landmark deal about nuclear power for peaceful purposes was signed between the United States of America and the Philippines which opens up opportunities for investments and energy that the Filipino people can benefit from, according to separate news stories (click here and here) published by the Philippine News Agency (PNA).

To put things into perspective, posted below is an excerpt from the PNA story pertaining to investments. Some parts in boldface…

President Ferdinand R. Marcos Jr. on Friday (Manila time) expressed elation over the signing of the much-awaited “123 Agreement” on nuclear cooperation between the governments of the Philippines and the United States.

This was after Energy Secretary Raphael Lotilla and US Secretary of State Antony Blinken signed the nuclear cooperation agreement that will facilitate the collaboration between the two countries on technical exchanges, scientific research, and initiatives to ensure the safe operation of nuclear power installations.

The agreement was signed on the sidelines of Marcos’ participation in the Asia-Pacific Economic Cooperation (APEC) Summit in San Francisco, California.

“I am most pleased to be here today to join you this afternoon to witness another milestone towards a more energy-secure and green Philippines,” Marcos said, noting that the move was in line with his plans to ensure an “affordable, reliable, and sustainable energy supply” for the Philippines.

Marcos expressed optimism that the signing of the nuclear deal would encourage more foreign investors to pursue nuclear power projects in the Philippines.

The nuclear power cooperation, he said, would enable the country to meet its growing energy demands and provide a “more investor- and consumer-friendly environment.”

“The signing of the Philippines – United States Agreement for Cooperation Concerning Peaceful Uses of Nuclear Energy or the 123 Agreement is the first major step in this major regard, taking our cooperation on capacity-building further and actually opening the doors for US companies to invest and participate in nuclear power projects in the country,” Marcos said.

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 will allow the Philippines to use US nuclear technology, not for war, but for energy security and climate goals.

The President noted that apart from the 123 nuclear deal, Meralco and Ultra Safe Nuclear Corp. also signed a cooperation agreement to undertake a Pre-Feasibility Study on Micro-Modular Reactors (MMRs) to explore clean and sustainable energy options in the country.

Under the agreement, a feasibility study will be conducted for the potential deployment of MMRs to Meralco sites to enforce the sustainable energy agenda and provide affordable and dependable access to power, particularly to the underserved and off-grid areas for economic empowerment.

“I know our companies are eager to advance discussions on potential projects. Just yesterday, the MOU (memorandum of understanding) between Meralco and Ultra Safe Nuclear Cooperation was also presented to me. So, I believe congratulations are in order for the work of our respective negotiating teams, especially to the team from the United States,” Marcos said.

“I look forward to seeing this agreement in action in the years to come. Nuclear energy is one area where we can show that the Philippines-US alliance and partnership truly works, for our peoples, our economies, and the environment.”

For the PNA story pertaining to energy and modular reactors, below is the excerpt. Some parts in boldface…

The historic nuclear cooperation deal between the United States and Philippines would allow the Philippines to secure US-developed nuclear technologies, including small modular reactors.

Manila and Washington D.C. signed the civil nuclear cooperation deal, commonly known as a 123 Agreement, at the Asia-Pacific Economic Cooperation (APEC) Summit in San Francisco on Nov. 16 (US time).

The agreement will facilitate and enhance cooperation on clean energy security and strengthen the two nations’ alliance, the US State Department said.

“With access to US material and equipment, the US and the Philippines will be able to work together to deploy advanced new technologies, including small modular reactors, to support climate goals as well as critical energy security and baseload power needs within the Philippines,” it said.

The signing marks the successful culmination of the negotiation process launched by Vice President Kamala Harris during her trip to the Philippines in November 2022.

The deal, the State Department said, also spells out limitations on enriching, reprocessing, and transferring specific items without the other party’s consent.

“This agreement lays out a comprehensive framework for peaceful nuclear cooperation between the Philippines and United States based on a mutual commitment to nuclear nonproliferation and is required by US law to allow for the transfer of nuclear equipment and material for peaceful uses,” it said.

The name 123 Agreement is derived from Section 123 of the US Atomic Energy Act, which requires the US to have an agreement with a country before it can conduct nuclear export.

Section 123 establishes nine nonproliferation criteria that 123 Agreements must include and signatories must uphold.

Last May, US nuclear energy firm NuScale Power Corporation has expressed interest to invest in the Philippines and bared its plan to conduct a study to locate a site in the country.

Oregon-based NuScale is known for developing a small nuclear power system, described as safe, modular and scalable.

Let me end this piece by asking you readers: What do you think about these recent developments? Can you imagine what a nuclear-powered Philippines would be like in the years to come? Are there still people in your local community who are afraid of anything related to nuclear power? Do you admire the efforts of the Marcos administration when it comes to modernizing the Philippines with nuclear technology and power?

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

+++++

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.

+++++

Muntinlupa City Government congratulates local resident Napolis for winning 2023 World Combat Games women’s jiu-jitsu gold medal

November 1, 2023October 29, 2023carlocarrasco

Recently, the City Government of Muntinlupa congratulated local resident Kaila Napolis for winning the 52Kg women’s jiu-jitsu gold medal in the 2023 World Combat Games that took place in Saudi Arabia.

The congratulatory message was done through the City Government’s official Facebook page on October 28 with a picture post. For the newcomers reading this, this is not the first time Napolis made big achievements in international sports events and has been congratulated by the City Government before (read my past blog posts by clicking here, here, here and here).

*From the official Facebook page of Muntinlupa City.*

Napolis is a resident of Barangay Poblacion. The full details of her latest achievement can be read in the Philippine News Agency’s (PNA) sports news article.

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

The Philippines claimed its first gold medal in the 2023 World Combat Games following the triumph of ju-jitsu fighter Kaila Jenna Napolis at the King Saud University Arena in Riyadh, Saudi Arabia on Wednesday (Thursday in Manila).

“It’s my first time to qualify in such an event. It feels surreal to be able to get a gold medal especially here in the World Combat Games,” the 25-year-old Napolis told the Philippine News Agency on Thursday.

She scored a 2-0 victory over Anael Pannetier of France in the final of the women’s -52kg Ne-Waza.

“She looks intimidating by her stance and she’s a bit bigger than me so I’m very nervous going into the match. I feel like throwing up but I had to focus and give it my all because it is finals already,” shared Napolis, who defeated Adriana Cruz of Colombia, 6-0, in the quarterfinal and Mongljin Ganbaatar of Mongolia via submission in the semifinal.

“When I stepped on the mat, my mind was cleared already. I just wanna execute my techniques first and have a very good control on her,” added the 2023 Cambodia SEA Games gold medalist and Hangzhou Asian Games silver medalist.

Napolis was grateful to national coach John Baylon for accompanying her in the tournament.

“It’s my first time to travel alone without a teammate so I’m super thankful to coach John for helping me with the training here, assisting me with the schedules, being my corner man and masseur,” said Napolis, a member of the Paranaque-based Checkmat Manila Club headed by coach Manny Jimenez.

“Kaila deserved the gold medal, she trained hard and came here prepared,” said Baylon, a nine-time judo gold medalist in the SEA Games. He also competed in the 1988 (Seoul) and 1992 (Barcelona) Olympics.

Let me end this piece by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City, are you very delighted to learn about the latest gold medal victory of Napolis? Does Napolis inspire people in your local community to engage in sports competitions?

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

+++++

	☆.♪°.ＣＬＡＲＡ♪・°☆.♪ on Philippines Inflation Accelera…
	Murmel on Philippines Inflation Accelera…
	#tech on Philippines Inflation Accelera…
	#blogpost on Philippines Inflation Accelera…
	#tumblr on Better than Streaming: Fire an…

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this: