A new economic age for the Philippines has started as President Ferdinand “Bongbong” Marcos, Jr., signed into law the Maharlika Investment Fund (MIF) bill which formally establishes the nation’s sovereign wealth fund, according to a Philippine News Agency (PNA) report.
To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…
President Ferdinand R. Marcos Jr. on Tuesday signed into law a bill establishing the Maharlika Investment Fund (MIF), the Philippines’ first-ever sovereign wealth fund.
Marcos signed Republic Act (RA) 11954 in a ceremony at the Kalayaan Hall of Malacañan Palace in Manila.
In a keynote speech, Marcos said the MIF is designed to drive economic development in the country.
“The MIF is a bold step towards our country’s meaningful economic transformation. Just as we are recovering from the adverse effects of the pandemic, we are now ready to enter a new age of sustainable progress, robust stability and broad-based empowerment,” Marcos said.
“We now have an available fund that will provide us the seed money for investments and to attract other foreign investments and for us to be able to participate in those operations, in those investments without additional borrowings,” he added.
Following the signing of RA 11954, Marcos said his administration would “go out to the world and do the changes that are necessary for the Philippines to become an investment-friendly nation.”
“The fund will fail if we do not make money on the fund. It’s that simple… That is why we put up a Maharlika Fund so as to be able to give us the capacity and the ability to join in those investments, be part of that,” he said.
He reiterated that he would make sure that the MIF would be “well-run” by professionals.
He added that the country has the “best” economic managers both in government and the private sector to ensure the proper management of the MIF.
“Let us make sure that the decisions that are being made for the fund are not political decisions, that they are financial decisions because that is what the fund is,” Marcos said.
The MIF is established to optimize national funds by generating returns to support the Marcos administration’s economic goals laid out in the Medium-Term Fiscal Framework, the 8-point Socioeconomic Agenda, and the Philippine Development Plan 2023-2028.
In a separate statement, Budget Secretary Amenah Pangandaman said the Department of Budget and Management (DBM) will continue to provide support and technical assistance in the formulation of the implementing rules and regulations of RA 11954.
“The creation of this development fund is very good news because this means we now have an opportunity to expand our fiscal space for the government’s priority programs,” Pangandaman said. “Of course, we fully support this as it will help expand our fiscal space. So we at the DBM remain committed to helping ensure that this development fund will be a success and implemented with utmost integrity.”
Under RA 11954 , the MIF will be used to invest in a wide range of assets, including foreign currencies, fixed-income instruments, domestic and foreign corporate bonds, joint ventures, mergers and acquisitions, real estate and high-impact infrastructure projects that contribute to the attainment of sustainable development.
The establishment of the MIF will provide the government with a long-term source of income, as well as ease the burden on the national budget by providing additional funding for other priority projects of the government.
Unlike other government-owned or -controlled corporations (GOCCs), the MIF will be able to maximize government assets through its investments in projects that generate bigger returns.
The proposed measure seeks the establishment of the Maharlika Investment Corp. (MIC), which will act as the “sole vehicle for the purpose of mobilizing and utilizing the MIF for investments in transactions in order to generate optimal returns on investments (ROIs).”
The MIC is expected to have at least PHP75 billion in paid-up capital this year, with PHP50 billion sourced from the Land Bank of the Philippines and PHP25 billion from the Development Bank of the Philippines.
The law prohibits government agencies and GOCCs that provide for social security and public health insurance to contribute to and invest in the Fund.
These include the Social Security System, Government Service Insurance System, Philippine Health Insurance Corporation, Home Development Mutual Fund, Overseas Workers Welfare Administration, and Philippine Veterans Affairs Office pension fund.
For the newcomers reading this, if you want to understand what a sovereign wealth fund is and how it would work with the Philippines in mind, watch the video below…
Let me end this piece by asking you readers: What is your reaction to this recent development? What do you think about the Maharlika Investment Fund that is now officially a law? Do you expect financial or economic breakthroughs to happen for the Philippines soon?
The Philippines has very delicious mangoes which can be availed in their basic fruit forms as well as other forms such as dried mango snacks, candies, juices and shakes. For mangoes to remain available for domestic and overseas consumption, the farming and production of the fruits must be maintained in good conditions in the long run and this is where the State of Israel comes in.
This past September, the State of Israel confirmed its support for farmers in the Ilocos Region as Ambassador Ilan Fluss formally visited the province of Ilocos Norte and stated they are looking forward to more cooperation specifically on mangoes, as reported by the Philippine News Agency (PNA). To say the least, mango farmers in the Ilocos Region need Israel’s expertise as they have been dealing with problems for some time now. The Ilocos Region itself is a major source of mangoes here in the Philippines.
To put things in perspective, posted below is an excerpt from the article of the PNA news article. Some parts in boldface…
The Israel government has vowed to assist Ilocos farmers to boost their productivity by sharing their innovative solutions to modern agriculture.
In his first visit to Ilocos Norte province, Israeli Ambassador to the Philippines Ilan Fluss said one of the big areas they are looking at for stronger support and longer cooperation is battling emerging diseases in mangoes and other promising crops in the region by tapping mango experts from Israel.
“We have lots of expertise in the approach. See what we can offer if I can identify good experts that can come and help in identifying the disease and solution which is not always on more and more pesticides but try different approaches to look into it and come back to the governor,” he said.
As a junior diplomat to the Philippines back in the 90s, Fluss recalled that the Israel government had introduced a training program in Guimaras then to help in exporting its mangoes to Japan.
Since 2012, the mango industry in the province has been suffering from low yield due to erratic weather patterns and disease infestation.
Ricardo Tolentino, president of the Mango Growers Association in Ilocos Norte, said a lot of mango growers continue to suffer losses due to the El Niño or the prolonged dry spell and the oversupply from other mango-producing provinces that drove prices down.
As a high-value commercial crop in the province, the Ilocos Norte government has been helping farmers rehabilitate their fruit-bearing trees and apply organic conditioners to give time for the soil to “heal.”
Grafted mango seedlings, organic fertilizers, and fruit-fly attractants are, likewise, being distributed to farmers to help boost the industry.
Based on the quarterly bulletin report of the Philippine Statistics Authority from April to June 2022, the Philippines’ mango production decreased by 3.8 percent, from 556,820 metric tons in the same quarter of 2021 to 535,430 metric tons this period.
The above article ended stating that the Ilocos Region contributed 22.5% to the total production and was the top mango producer during the 2nd quarter with more than 120 metric tons registered.
Be thankful to the Lord for this recent development of the strong ties between the Philippines and Israel. Israel itself is a world leader on agriculture and their assistance for mango farmers in Ilocos Norte comes at a very crucial time as the entire Philippines continues to gradually recover economically and socially from the COVID-19 crisis. What is at stake here are livelihood, food production, food supply and the maintenance of mangoes in the country. Mangoes are a major product of export of the Philippines and we should be thankful to the State of Israel for their attention and support.
If you truly believe in Lord Jesus, the Holy Spirit and God the Heavenly Father wholeheartedly and you continue to be faithful (not religious), you should be aware that Christians are meant to stand united with Israel, love the Jewish people and pray for the peace of Jerusalem. 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.
If you are looking for breakthroughs within Israel-Philippine ties related to business or economics, be delighted over the news that an Israeli firm partnered with a local firm that will create opportunities for growth with regards to investing, according to a Manila Standard news report.
To put things in perspective, posted below is an excerpt from the Manila Standard report. Some parts in boldface…
OurCrowd, Israel’s most active venture platform, and Einhorn Resources Inc, a Philippine investment firm, today announced a partnership that will provide Einhorn clients direct access to OurCrowd’s exclusive investments and mentorships to facilitate growth of Philippine startups.
The partnership was signed in Tel Aviv, Israel, between Dan Bennett, OurCrowd’s General Partner & Managing Director of Australia and Asia, and Jean Henri Lhuillier, Einhorn Resources Inc. CEO.
“This new partnership is an exciting opportunity to extend our pipeline into the vibrant investment community in the Philippines and to help nurture its startup ecosystem,” said Dan Bennett. “Einhorn Resources’ deep knowledge of the Philippine investment landscape will be instrumental to bringing our top-tier technology talent to that part of the world.
“Not only are we raising money for these opportunities both in Israel, the US and beyond, but this is an important opportunity for corporates and family offices to invest from the Philippines and to attract technology that will benefit their core business.”
This collaboration, the first of its kind in the Philippines, provides Einhorn clients direct access to one of the world’s leading online venture platforms. OurWorld currently has $1.9 billion in commitments and has deployed capital to more than 347 portfolio companies and 39 funds in five continents. It also has 200,000 registered members from 195 countries which it allows to participate in vetted and early-stage firms and funds.
Currently, plans are being made to set up a regional incubator that will give growth opportunities to Philippine startups looking for Israeli tech expertise.
“We are excited to work with OurCrowd to pave the way for stronger ties for investment opportunities, traditional companies and tech solution collaborations,” said Jean Henri Lhuillier. “The partnership aims to open the funnel to a Philippine network of investors who can choose relevant companies to invest in as well as customize an online portfolio.”
Indeed, the OurCrowd-Einhorn partnership is a very welcome development and its impact will be felt in the years to come. Both the Philippines and Israel endured hardships related to the COVID-19 crisis over the past few years but there are efforts to not only recover economically and socially, but also emerge stronger from the pandemic. The economy of the Philippines is growing but more opportunities related to investing are needed and this is where the OurCrowd-Einhorn partnership comes in. To the local entrepreneurs reading this, please pay close attention to the above excerpt and start considering looking to Israel for opportunities and innovations in business. This partnership is truly a blessing from the Lord for both Israel and the Philippines!
If you truly believe in Lord Jesus, the Holy Spirit and God the Heavenly Father wholeheartedly and you continue to be faithful (not religious), you should be aware that Christians are meant to stand united with Israel, love the Jewish people and pray for the peace of Jerusalem. 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.
This past Saturday, I took the opportunity to visit Alabang Hills Village for the return of the AHV Saturday Market which was held at the Sports Pavilion. The Alabang Hills Village Association (AHVA) announced the Saturday market return on July 15 or just the day before it happened. Take note that the association also said that the AHV Saturday Market will be held every Saturday (from July 16 onwards unless otherwise advised) from 8:30 AM to 11:30 AM.
The Sports Pavilion inside Alabang Hills where the AHV Saturday Market was held at on July 16, 2022.
There, I saw two sellers catering to some customers who were carefully choosing from the variety of fresh vegetables, meat, seafood and fish on display. To support the vegetable seller, I bought green tomatoes. Those who missed out on last Saturday’s AHV Saturday Market, there will be another one this Saturday and so on.
Fresh vegetables on display.
Some fresh meat, chicken, seafood and fish on display.
In their official announcement, the AHVA stated that local residents may also join in to feature their home-cooked meals, fresh produce, novelty products and other items.
Residents who might be interested to join the AHV Saturday Market, to sell goods and make some additional money while also connecting with customers, are encouraged to call the AHVA’s administration office at landline numbers 88509631 or 88508254 local 106 and ask for Mark Granada. They can also visit the administration office from Monday to Friday, 8AM to 5PM, and Saturday from 8AM to 12PM.
For further inquiries, visit https://alabanghillsvillage.com/. To all the non-resident motorists who enter Alabang Hills Village, always remember to follow their rules and speed limits wherever you go. Be respectful to the village and the AHVA.
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
Trade between Israel and the Philippines could improve and help develop each other economically in the years to come as the two nations strengthened their ties further by establishing the Joint Economic Commission (JEC), according to a recent report by BusinessWorld.
To put things in perspective, posted below is the excerpt from the BusinessWorld report. Some parts in boldface…
THE Philippines and Israel said they formed a Joint Economic Commission (JEC) that will explore pathways to improving trade.
In a statement on Thursday, the Department of Trade and Industry (DTI) said Trade Secretary Ramon M. Lopez signed a memorandum of understanding (MoU) with Israel Economy and Industry Minister Orna Barbivai in Jerusalem on June 7 that created the JEC.
“The MoU seeks the establishment of a bilateral consultative mechanism that will develop and strengthen trade, enhance investments, and advance economic ties between the Philippines and Israel,” the DTI said.
“In establishing a JEC, the two countries agree to exchange information on economic issues, identify and implement cooperative projects, organize consultations, missions, and official visits and enhance cooperation and linkages with their respective private sector,” it added.
The DTI said the MoU will seek to explore industries where the two countries can collaborate with a view towards diversifying trade and investments.
He added that priority sectors for promotion include agribusiness/agriculture production, energy efficiency technologies and renewable energy, infrastructure and public-private partnership (PPP) projects in infrastructure, real estate development, logistics, artificial intelligence, information technology and business process management (IT-BPM) including shared services, electronics manufacturing, and digital infrastructure.
Mr. Lopez told reporters via Viber that the initial investments from the investment promotion and protection agreement (IPPA) between the Philippines and Israel could bring around $150 million in investment in 2022.
“Early harvest could be around $150 million this year,” Mr. Lopez said.
Also signed on June 7, the IPPA provides the framework for a closer investment relationship between Israel and Philippines. It also specifies investment protection elements such as national treatment, most favored nation treatment, free transfers, rules-based expropriation and compensation, and investor-state dispute settlement.
The DTI also recently signed an MoU seeking to strengthen cooperation with the Israel Innovation Authority.
This newest development is undoubtedly critical as both the Philippines and Israel share the same goal of recovering from the damage of the COVID-19 crisis and emerging stronger economically and socially. The JEC between the two nations is something we must be thankful to God for.
If you truly believe in Lord Jesus, the Holy Spirit and God the Heavenly Father wholeheartedly and you continue to be faithful (not religious), you should be aware that Christians are meant to stand united with Israel, love the Jewish people and pray for the peace of Jerusalem. 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.
The relationship between Israel and the Philippines moved forward some more as they recently signed a major agreement related to investments and economic cooperation, according to a news report by The Jerusalem Post.
To put things in perspective, posted below is the excerpt from report of The Jerusalem Post news report. Some parts in boldface…
Finance Minister Avigdor Liberman and Filipino Secretary of Trade and Industry Ramon Lopez signed an agreement on Tuesday that encourages and protects investments between Israel and the Philippines.
The trade deal
The deal aims to create an investment environment that encourages economic activity by providing a basket of commitments to investors from both Israel and the Philippines. It is expected to provide security and stability to foreign investors and encourage capital movements between the two countries. It covers regulatory issues, prevention of expropriation of assets, free flow of capital and advanced protection mechanisms for the rights of foreign investors in the host country.
“The investment protection agreement signed will help develop economic ties between the countries,” Liberman said. “The commitment between the countries to encourage mutual investment and provide optimal conditions for investors will strengthen existing economic activity and enable new opportunities for the private sector in both countries.”
The Philippines’ economy has grown significantly in the last decade, averaging about 6.4% annually from 2010-2019, according to the World Bank.
Following the coronavirus pandemic, the Philippines managed to bounce back from a 35% decline in global investment flow in 2020, increasing its incoming investment almost 30% this year.
“The high growth in the Philippines over the last decade and the increase in investment flows to it, together with the agreement signed, will strengthen economic cooperation and increase investment between the countries,” said Shira Greenberg, the Finance Ministry’s chief economist.
“The Philippines is a major partner in significant Asia-Pacific regional trade agreements, and in conjunction with the investment agreement signed today, it will open up new opportunities for Israeli companies and investors operating in these markets,” she said.
As for this most recent development between the Republic of the Philippines and the State of Israel, the agreement can lead to a new wave of investments and even business innovation between them. Both nations have their own populations of not just trained workers but also entrepreneurs and investors (both individuals and organizations) who can visit the other nation for fresh opportunities to progress and prosper. Israel itself has an enduring record of being a hot spot for business innovation and startups. As such, the protection of investments between Israel and the Philippines is indeed crucial. This newest development is something we can all be thankful to the Lord for.
If you truly believe in Lord Jesus, the Holy Spirit and God the Heavenly Father wholeheartedly and you continue to be faithful (not religious), you should be aware that Christians are meant to stand united with Israel, love the Jewish people and pray for the peace of Jerusalem. 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.
While most of the country has been focused on the May 9 General Elections (national and local levels) as people will elect a new President who will lead the country for the next six years, the Philippines has a huge delegation gradually arriving in Vietnam for the 31st Southeast Asian Games (AKA the 31st SEA Games, SEA Games 31 and Hanoi 2021), according to an article published by the Philippine News Agency (PNA). While the opening ceremony of the SEA Games has been set to happen on May 12, there are already sports events that were held days ahead of the said ceremony. The Philippine Team, which has a financial support of over P200 million, will start very soon its quest for gold while adjusting themselves to the new environment, culture and society there in Vietnam.
To put things in perspective, posted below is an excerpt from the PNA article. Some parts in boldface…
The Philippine contingent for the 31st Southeast Asian Games is scheduled to check in on Tuesday with the Philippine Sports Commission on hand to facilitate their arrival and have them comfortably settled two days before the opening ceremony of the 11-nation sportsfest.
A large wave of athletes led by 2019 SEA Games multiple medalist and world champion gymnast Carlos Edriel Yulo will set foot here together with the highly admired women’s volleyball team featuring its top celebrities Alyssa Valdez, Aby Maraño and Jaja Santiago.
Yulo, who brought along his Japanese coach Munehiro Kugimiya, won two gold medals and five silvers in men’s artistic gymnastics back in Manila 2019 and is expected to deliver again for Team Philippines.
“We are ready to receive our athletes and coaches and extend the assistance they need once they arrive here. They have to be free of distractions so they can focus on their respective competitions ahead,” said PSC Commissioner Ramon Fernandez, the chef de mission of Team Philippines.
Women’s volleyball and men’s volleyball have a total headcount of 38 players and officials while gymnastics has 22 athletes and coaches comprising the 193 members of the delegation set to arrive on Tuesday.
Filipino athletes and officials from badminton (19), bodybuilding (13), fencing (28), table tennis (17), tennis (12), athletics (8), wushu (17), and one swimmer will likewise depart from Manila on the same day along with the PSC medical team (6) and members of the media (12).
Already settled in the Vietnamese capital and have moved to their respective billeting areas are athletes from kickboxing, handball, men’s and women’s football, rowing, chess, kurash, pencak silat, men’s 3×3 basketball, women’s basketball, golf, and triathlon/duathlon.
The main bulk of track and field athletes and officials (50) will be here on Wednesday, including pole vault Asian record holder Ernest John Obiena.
The Philippine Team for triathlon and duathlon at the airport before they departed to Vietnam. (photo source – Philippine Sports Commission Facebook page)
To know more about what kind of competitors Team Philippines will face in the SEA Games triathlon and duathlon events, check out my recent post related to the highly detailed interview with the Philippine Sportswriters Association (PSA). To find out who exactly are the Southeast Asian triathletes and duathletes in the men’s triathlon, women’s triathlon, men’s duathlon and women’s duathlon, check out the SEA Games pages at Triathlon.org which now have official lists of starters for public viewing.
Considering what is at stake and what kind of competitors the Philippine delegation will face at the SEA Games, I urge you to pray to our Lord for victories to be achieved by our nation’s finest athletes (note: each of them went through qualification processes in their respective teams and sports) and that they (along with their coaches) will be rewarded abundantly. We should not believe on luck because we have the victory of Lord Jesus to believe in and God is the definitive source and provider of blessings, breakthroughs and miracles that we must believe in. To pray to the Lord, be in your room with the door shut and pray in tongues to Him with all your heart. Also be thankful to Him wholeheartedly.
Let me end this piece by asking you readers: How excited are you right now with the Philippines’ SEA Games campaign? What is the one sports event of the SEA Games you are excited for?
Business tycoon Ramon S. Ang with Olympic gold medalist Hidilyn Diaz. (photo from Ramon S. Ang Facebook page)
To put things in perspective, posted below is an excerpt from the Philippine News Agency (PNA) article. Some parts in boldface…
San Miguel Corp. president Ramon Ang sees Hidilyn Diaz as a game-changer after she ended the Philippines’ 97-year hunt for its first Olympic gold in Tokyo.
“Hidilyn is the country’s trailblazer in our successful Olympic gold medal quest. After years of heartbreaks, she came through for us and we are very thankful as a nation,” Ang said on Tuesday.
Diaz, together with fiancé and coach Julius Naranja, personally received the PHP10 million reward Ang pledged for anyone who would capture the then elusive gold.
Diaz won the women’s 55-kg. weightlifting event at the Tokyo Olympics on July 26, making the Philippines a part of the Olympic gold medal countries’ list.
It also served as the biggest good news the Filipinos have ever received amid the coronavirus disease 2019 pandemic.
“Her victory comes at a very crucial point in our country’s history when we are grappling with a pandemic and a lot of Filipinos are looking for hope as we fight this virus and cope with the difficulties it has brought,” Ang said.
Upon meeting at the SMC office in Pasig City, however, he gave Diaz a surprise gift.
Ang rewarded Diaz with two Magnolia Chick ‘N Juicy franchises that she could put up at her new condominium in Quezon City and at her hometown in Zamboanga City.
“With the franchise outlets, we will assist Hidilyn every step of the way in her journey as an entrepreneur so that she can also help other people in need of jobs. In addition to the physical stores, equipment, and training, we will also provide the initial stocks for free to get her started,” he added.
The generosity of Ramon S. Ang is truly amazing and genuine. Not only was the promised cash reward released to Hidilyn Diaz, he gifted her with commercial franchises which can add to our nation’s economy by creating opportunities for the unemployed to bounce back from poverty while providing choices to consumers looking for good products. I really like this because I truly believe that capitalism the way to prosperity and the most effective way to lift people up from poverty. Capitalism does socio-economic wonders while socialism only drags people down and ruins societies. As it is a fact that cash rewards/incentives from both the government and private sector cannot last forever as the cost of living only keeps going up, having a business that succeeds will keep prevent people from falling into poverty. To see Hidilyn Diaz gifted with business franchises is great!
For those who are not aware, Chick ‘N Juicy is a chicken rotisseries retail business that has many branches and it is being expanded. Chick ‘N Juicy sells chicken supplied by sister company Magnolia. Customers can order from them online with products like sweet roast chicken, garlic roast chicken, fried chicken drumsticks, chicken rice meals and more at https://www.chicknjuicyofficial.com/
Let me end this piece by asking you readers: Are you happy about our nation’s Olympic gold medalist getting rewarded and gifted by tycoon Ramon S. Ang?
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. Feel free to contact me as well. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me at HavenorFantasy@twitter.com
It’s been months since the last time I wrote about the Corporate Recovery and Tax Incentives for Enterprises act otherwise referred to as the CREATE Law. For the newcomers reading this, the CREATE Law was designed to cut down corporate income tax which should lead to the creation of new jobs and the attraction of investment in mind. The said law is really crucial in this COVID-19 crisis we are all still living with.
Recently, the Philippine News Agency (PNA) published an article stating that a huge rise of foreign direct investments (FDIs) in the country was realized this past April and the CREATE Law was one of the factors behind it.
To put things in perspective, posted below is an excerpt from the PNA article. Some parts in boldface…
An economist has attributed the rise of foreign direct investments (FDIs) in the country in April 2021 to the implementation of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law and the opening of the economy.
The Bangko Sentral ng Pilipinas (BSP) on Monday reported the 114.4-percent year-on-year jump of net FDI inflows to USD679 million last April from USD317 million in the same period last year.
In a report, Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort said lower interest rates and lower cost of some inputs like real estate property and leases are plus factors that enticed higher FDIs.
“Some foreign investors may have started to come in view of the progress made on the CREATE law, which was finally signed on March 26, 2021 and reduces corporate income tax rates to 25 percent for large corporations (from 30 percent) retroactive July 1, 2020, thereby narrowing the gap with the tax rates in other Asean/Asian countries, and also provides greater certainty on investment incentives, thereby helping attract more FDIs and making some foreign investors on the sidelines in recent months/years to become more decisive and finally bring in more FDIs into the country,” he said.
Ricafort said positive credit rating actions on the Philippines, which even got its first-ever A-level credit rating, A-, from the Japan Credit Rating Agency (JCR) in June 2020, also boosted investors’ sentiment on the domestic economy.
The positive credit rating actions, he said, “reflect improved international investor confidence in the country, manifesting the country’s improved economic fundamentals, as well as the country’s attractive demographics.”
These factors are, however, expected to be countered by the still high number of coronavirus disease 2019 (Covid-19) cases, aggravated by new variants that are reported to be more contagious.
Ricafort believes that higher government spending, especially on infrastructure, and the accommodative monetary policy by the Bangko Sentral ng Pilipinas (BSP) are seen to further support the rise in net FDIs.
The above article is indeed filled with good news that our nation badly needs, especially since there are still many millions more people around the country who have yet to get vaccinated and the fact that lots of businesses are still struggling. In recent times, patients under the A4 category have been gradually vaccinated for COVID-19 and that is a very good thing because it under that very category where the nation’s laborers are listed. There are still lots of unemployed workers out there who badly need vaccines and jobs, and it does not help that certain local government units (LGUs) had to temporarily suspend their local vaccination operations due to a lack of supply of vaccines. There are supposed to be around 13 million doses of vaccines to come into the Philippines this month, and so far some of that have arrived (click here, here and here).
More on economics, apart from the rise of FDIs last April, it was reported that the local demand for office space nationwide grew by 38% rising from 122,000 square meters (sqm) in the first quarter of 2021 to 169,00 sqm. in the second quarter. It was described to be the strongest office demand since the start of the pandemic.
Let me end this piece by asking you readers: Does the recent news about the sharp rise of FDIs in our country make you confident about your economic prospects? How much do you know about the CREATE Law and what further positive effects it can generate for the country? If you have been unemployed, how long have you been out of work?
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. Feel free to contact me as well. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me at HavenorFantasy@twitter.com
We all want the good life. In fact, we need the good life! As we live in the flesh in the middle of a very screwed-up world that has long been ravaged by Satan, it is clear that without God, without the Holy Spirit and without Lord Jesus, we cannot survive both physically and spiritually. Unbelief misled many people to believe they can survive and prosper on their own but ultimately, they end up being unhappy, lost and unsaved spiritually. For its part, religion (along with its traditions, rituals and idolatry) misled people into believing they are Christians when in fact they end up wasting their lives following a whole bunch of rules from many man-made doctrines (described as blessed sacraments) which ultimately keep them away from the Lord. Religion also misled people into believing the falsehood that being religious, idolatrous, traditional and ritual-oriented is the same as being faithful to the Lord.
As Christians led by faith, we all had to go through the process of conversion (getting born again in accordance to what Lord Jesus stated in John 3: 3), studying and living the Word of God (the Holy Bible), submitting to Him and establishing personal relationships with Him. We are His creations and there really is no other way apart from living in holiness and doing our responsibilities as Christians, as citizens of God’s Kingdom and as His children.
The Lord will not abandon us (refer to Jeremiah 29: 11) and He knows well we need to have a good life. We are His children after all. To live the Christian life here on Earth does not necessarily mean living an easy life but being blessed, guided, directed and protected by Him. It naturally means not suffering the emptiness, the sadness and hardship of the lost and unsaved people around us. They need help and saving. They don’t realize it but they need to know the Lord and start having faith in Him.
As I mentioned some time ago, the Lord blesses the faithful abundantly. God is our source and His promises of prosperity are true and He always keeps His promises (refer to Genesis 39: 2-6, Psalm 1: 1-3, Hebrews 6: 10-12, Deuteronomy 8: 18, Jeremiah 17: 7, Genesis 13: 2, Leviticus 26: 3-5, Psalm 35: 27 and Psalm 37: 3-11). As faithful children of the Lord, we can enjoy riches and luxuries and never feel ashamed nor worried as we know that the blessings came from the Lord who worked legally through the existing financial systems of this screwed-up world we live in. In short, God always finds a way and His timing always makes sense. We need to be patient with Him and still believe in His works to bless us no matter how bad or how good our situation is.
Of course, as blessed children of His, we must never ever let riches and abundance separate us from Him. God, Lord Jesus and the Holy Spirit must always be prioritized. The Lord is our source and therefore we would not be enjoying the blessings without Him. As such, we must never ever fall into the temptation of covetousness which leads to greed. To be covetous means to obsessively acquire wealth and things that ultimately will not satisfy the lust of acquiring more than what is realistically needed. Covetousness also means the corruption of the soul and getting separated from the Lord. Earthly things that are acquired without prioritizing the Lord are clearly not blessings from Him. Learn from the following holy scriptures below…
He who loves silver will not be satisfied with silver; Nor he loves abundance, with increase. This is also vanity
Ecclesiastes 5: 10 (NKJV)
Do you not know that the unrighteous will not inherit the kingdom of God? Do not be deceived. Neither fornicators, nor idolaters, nor adulterers, nor homosexuals, nor sodomites, nor thieves, not covetous, nor drunkards, nor revilers, nor extortioners will inherit the kingdom of God.
1 Corinthians 6: 9-10 (NKJV)
Speaking to the people, Jesus continued, “Be alert and guard your heart from greed and always wishing for what you don’t have. For your life can never be measured by the amount of things you possess.”
Luke 12: 15 (TPT)
“I have shown you in every way, by laboring like this, that you must support the weak. And remember the words of the Lord Jesus, that He said, ‘It is more blessed to give than to receive.’”
Acts 20: 35 (NKJV)
As you can see, it is written in the Holy Bible that covetousness and greed are destructive. Becoming materialistic is bad! To be dominated by covetousness and greed means giving in to the love for wealth and material things which also means cutting yourself away from God, our ultimate creator and source! Lord Jesus’ words about guarding our hearts from greed clearly shows that we should not only be mindful of what is happening but always resist the temptation of acquiring too much and going beyond our needs. There are many people around us who believe in the falsehood that acquiring too much and obsessing for more all the time is part of the good life the Lord has in store for them. That is simply distorted and untrue! There are truly limits on what we need and how much in blessings we can receive. The abundant blessings we receive from God is great enough, and we certainly should not become covetous. God truly does NOT want us Christians to live in poverty (a curse from Satan) and He surely wants us to be disciplined with the way we live, the way we use His blessings and the like.
How to keep ourselves in check and be more responsible with the abundant blessings we receive from the Lord? You can start with tithing, the guaranteed giving back of 10% of your income to Him through your local church. Next, you can be a blessing to others by cheerfully giving something (in cash or in kind) to someone you are willing to share the Lord’s blessings with. If you know a fellow Christian at church trying to raise money for a planned bible-led outreach, then you have the opportunity to donate to that person so he or she can succeed in preaching the Word of God and saving lost souls. Cheerfully giving back to the Lord and blessing others are effective ways to prevent yourself from becoming selfish, greedy and covetous. Lord Jesus’ own words that it is more blessed to give than to receive is in reference to our time as well as our money, and that supporting the weak (the less fortunate) is something He desires for us to do for it is His nature to give. When we become blessings to others, we do it cheerfully and do it in accordance to the character of Lord Jesus. These ways are truly part of the good life from the Lord.
Of course, in opposite to the covetous and the greedy, there is a bunch of people out there who cannot help but be extremely obsessed with anti-materialism. These are lost and unsaved souls who do more than just tell you to avoid being materialistic. They will express their wrongful beliefs that money is the root of all evil (note: money itself is actually neutral and is a useful tool in receiving blessings from the Lord), that you are not meant to prosper (note: this puts them at odds with God and they don’t realize it), and that the only people to support (by means of donation) in the entire world are the impoverished (note: God’s provision is NOT exclusive to the impoverished).
I even encountered one of these anti-materialism fanatics. She is so obsessed with her wrongful beliefs, she seems willing to someday leave her children with not much left to survive with only because she believes money is cursed and wealth is immoral. She also made clear her personal beliefs that prosperity from God is not true and that poverty is not a curse. She does not know the truth written in the Holy Bible. This is the result of her living a life dominated by religion, idols, traditions, wrongful theology and rituals. As such, these lost souls and unsaved souls blinded by anti-materialism obsessions need saving and they need to be prayed for.
As such, being blessed by the Lord and being disciplined (rejecting fully covetousness greed) and being responsible (having our needs met and being able to give back to Him and bless others we could) with what we received are part of the good life from Him.
More on the good life from God, it is undeniably true that Lord Jesus offers us peace and joy that the world itself cannot match nor replicate. Pay close attention to His words in the following bible scriptures below.
“Peace I leave with you, My peace I give to you; not as the world gives do I give to you. Let not your heart be troubled, neither let it be afraid.”
John 14: 27 (NKJV)
“These things I have spoken to you, that My joy may remain in you, and that your joy may be full.”
John 15: 11 (NKJV)
John 14: 27 is about the ultimate form of peace that only Lord Jesus can give to those who truly believe in Him. By comparison, worldly peace made by governments, or a truce between rival factions, or special agreements made between powerful groups are all temporary, ultimately fragile and each are bound to break down in due time (which can lead to another bout of fighting, even wars). With Lord Jesus’ peace, you can be assured that the said peace is eternal and will never get corrupted. This is why we should not let our hearts be burdened with pain, worry and doubts under Him.
As for John 15: 11, it emphasizes that our joy becomes full through experiencing Jesus’ own joy within us. To be full of happiness, hope and rest with Him is easily connected with His telling us not to have troubled hearts.
Being born again, we Christians must always keep the Holy Spirit in our hearts and eternally be faithful to the Lord, living by His Word (the Holy Bible). What we study in the Holy Bible, we apply the lessons in our lives.
By comparison, a person who does not have the Holy Spirit in his heart is very vulnerable to temptation and evil. Satan knows this and he knows that for as long as people do not believe in the Lord or are living with religion (along with idolatry, traditions, wrongful theology and rituals) that prevent them from achieving true faith in God, they are easy to be manipulated to serve his evil purposes. The enemy knows how to cause chaos around people and then reach inside the lost and unsaved souls to bring out more wickedness. Satan obviously does not want people to know the Lord and he manipulates them to suffer and live the painful life instead of having a blessed, good life from God. Take a close look at the following bible verses below…
“Evil originates from inside a person. Coming out of a human heart are evil schemes, sexual immorality, theft, murder, adultery, greed, wickedness, treachery, debauchery, jealousy, slander, arrogance, and recklessness. All these corrupt things emerge from within and constantly pollute a person.”
Mark 7: 21-23 (TPT)
What is the cause of your conflicts and quarrels with each other? Doesn’t the battle begin inside of you as you fight to have your own way and fulfill your own desires? You jealously want what others have so you begin to see yourself as better than others. You scheme with envy and harm others to selfishly obtain what you crave—that’s why you quarrel and fight. And all the time you don’t obtain what you want because you won’t ask God for it!
James 4: 1-2 (TPT)
A thief has only one thing in mind—he wants to steal, slaughter, and destroy. But I have come to give you everything in abundance, more than you expect—life in its fullness until you overflow!
John 10: 10 (TPT)
As you can see in the above scriptures, having the Holy Spirit in our hearts and dedicating ourselves to the Lord are truly essential. Without the Holy Spirit in us, we would have been very vulnerable to the temptations and manipulations of the enemy. Satan rules over people who are not edified under the Lord and it is easy for him to manipulate the unsaved person into giving in to wickedness, temptations, strife, violence, greed, immorality and destruction to name some. To put things in perspective, Satan gained dominion when Adam rebelled against God and, as written in the Holy Bible, this led to a downward spiral for humanity. Committing sinful and unrighteous acts became too common among people before the Great Flood happened.
Before gaining the Holy Spirit in our hearts upon getting born again, our hearts contained no holiness. We were vulnerable to wickedness, to the impulse and lust of the flesh, and we were too easy to be manipulated by Satan to commit sin. Now that we know the truth in the Holy Bible and we know better, we Christians can defeat Satan by having strong faith in the Lord and doing His Word in our lives. Strong faith and being a doer of God’s Word are essential for us to gain the good life from Him. Always remember that Lord Jesus is the definitive Savior of us all and He always restores believers who previously suffered from the darkness caused by the enemy!
Now pay close attention to the following holy scriptures below…
Jesus answered and said to him, “Most assuredly, I say to you, unless one is born again, he cannot see the kingdom of God.”
John 3: 3 (NKJV)
“Don’t keep hoarding for yourselves earthly treasures that can be stolen by thieves. Material wealth eventually rusts, decays, and loses its value. Instead, stockpile heavenly treasures for yourselves that cannot be stolen and will never rust, decay, or lose their value.”
Matthew 6: 19-20 (TPT)
“Therefore do not worry, saying, ‘What shall we eat?’ or ‘What shall we drink?’ or ‘What shall we wear?’ For after all these things the Gentiles seek. For your heavenly Father knows that you need all these things. But seek first the kingdom of God and His righteousness, and all these things shall be added to you.”
Matthew 6: 31-33 (NKJV)
About the above scriptures, let me declare to you – my readers and fellow faithful Christians – that becoming born again is truly the greatest miracle that happened in my life. In my old life, I gone through decades of pointless religion and even several years of being faithless. I responded to the Lord’s call when my dearest friend in life invited me to her church, and then weeks later I accepted Jesus as Lord and Savior. What He stated in John 3: 3 is undeniably true! My life has turned around for the better and I now know my true purpose under the Lord.
Matthew 6: 19-20 confirms the existence of wealth in the kingdom of God which we, His children, will inherit. What blessings we receive from the Lord while living in the flesh here on Earth are not only temporary but are just a fraction of kingdom wealth. Kingdom wealth is so much greater than all of the wealth of this screwed-up world. As such, Matthew 6: 31-33 confirms that the Lord is watching us all the time and He definitely knows our needs and in due time, He will keep blessing us. That being said, the very least we Christians must do is seek God’s kingdom and achieve holiness under Him. Pursue God’s kingdom and His righteousness, and then the good life He planned for us filled with peace, prosperity, stability and happiness will manifest.
At this point, I would like to reach out to the lost and the unsaved people reading this. You can save yourselves by submitting to the Lord willingly. No force and no coercion here. You have time and freedom to decide. For those who have decided to get born again now, please read the instructions and follow the prayer that I learned from our pastor.
Are you ready? Firstly, open your heart to the Lord and pray this simple prayer in sincerity from your heart:
Dear God,
I believe that Jesus is Your Son, and that He died on the cross to pay the penalty of my sins. I believe that Jesus has been raised from the dead and that He is alive! Right now, I call on the name of Jesus. Jesus, come into my heart. I receive You as my personal Lord and Savior. Forgive me of my sins and cleanse me by the power of Your blood. Thank You for saving me and giving me eternal life! Help me now to follow Your plan for my life. Amen.
Congratulations! You are now a child of God! You have received Holy Spirit in your heart! This is easily your greatest decision ever made and also the greatest miracle of your life. Always praise, thank and honor the Lord. No more darkness in your life caused by politics, radicalism, toxicity, rebellion, religion, unbelief, evil, idolatry, traditions and rituals! Leave behind the darkness of your life and don’t look back to it. With Lord Jesus, you are already moving forward! You also have a personal relationship with God, a relationship that is strictly off-limits to others (even to your household members or biological family members).
With your new life realized, make an effort to acquire a copy of the Holy Bible (New King James Version is recommended), study it and apply its lessons into your life no matter what situation you are in right now. I also recommend you to join a church of born-again Christians near you and find your place in the spiritual family (God’s family). Worship the Lord together with them and always remember that faith, not religion, is essential in your personal relationship with God.
The Holy Bible is the ultimate authority and nothing else comes close. Remember always that Lord Jesus did not die on the cross to start religion. He died to redeem us all and showed that we must be led by faith in Him, faith in the Holy Spirit and faith in God the Heavenly Father. He rose from the dead and made His earthly presence felt once more to those who believed in Him. Lord Jesus ascended to Heaven and He promised to return in the future.
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. Sharing this Christian piece means spreading the good news of the Lord to others. It can help you save the unsaved and the lost souls out there.
Author Carlo Carrasco 