Southeast Asia – Page 108 – Author Carlo Carrasco

Philippine economy grew by 5.9% in the 3rd quarter of 2023

November 13, 2023November 9, 2023carlocarrasco

The economy of the Philippines grew almost 6% in the 3rd quarter (July-September 2023) which is a huge improvement over the 2nd quarter growth of 4.3%, according to a GMA Network news report.

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

The Philippine economy regained its footing in the third quarter of 2023, following a slowdown seen in the previous quarter, the Philippine Statistics Authority (PSA) reported on Thursday.

The economy, as measured by gross domestic product (GDP) or the total value of goods and services produced in a period, grew by 5.9% during the July to September 2023 period, PSA chief and National Statistician Claire Dennis Mapa said at a press conference.

This is faster than the 4.3% growth rate seen in the second quarter of the year —its slowest pace in nine quarters since the country entered the positive territory in the middle of 2021 following a pandemic-induced recession.

“We are pleased to announce that the Philippine economy continues to grow despite several major headwinds that we have experienced and continue to experience,” National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said.

“This performance makes our economy the fastest among the major emerging economies in Asia that have released their third-quarter 2023 GDP growth: Vietnam at 5.3%, Indonesia and China at 4.9%, and Malaysia at 3.3%,” the NEDA chief said.

The third quarter economic performance brought the year-to-date or the January to September 2023 GDP growth rate to 5.5%.

Let me end this piece by asking you readers: What do you think about this recent development? Do you think there is still a chance for the Philippine economy to accelerate in the 4th quarter and achieve a full-year economic growth of at least 6%?

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

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

Madison Galeries’ Mardi Gras Bazaar set for November 18 to December 31, 2023

November 10, 2023December 4, 2023carlocarrasco

NOTE: Shortly after the launch of Mardi Gras Bazaar, Madison Galeries renamed it into Mardi Gras Warehouse Sale which had its last sale on December 2 and 3, 2023. The previous announced schedule of Mardi Gras Bazaar set for November 18 to December 31, 2023, no longer matters.

Madison Galeries, the nice open-air shopping mall located along Don Jesus Boulevard in Barangay Cupang, Muntinlupa City, recently announced the return of their popular Mardi Gras Bazaar which is all set to take place from November 18 up to December 31, 2023 at the 3^rd floor.

*The official image and details that Madison Galeries posted through social media.*

For the newcomers reading this, the Mardi Gras Bazaar is a well-known special event of Madison Galeries’ with an emphasis on shopping as well as a wide variety of products that buyers can choose from for gift-giving or for the use of their respective households. It should be noted that several products will be offered at discounted rates which should easily attract bargain hunters as well.

In 2019, I published two posts about the Mardi Gras Bazaar which you can read by clicking here and here. My post-event article has some pictures which should you give an idea of what to expect at the next edition of the Mardi Gras Bazaar.

For the 2023 edition of the Mardi Gras Bazaar at Madison Galeries, the announced schedule of November 18-December 31 is pretty extensive and it should give people a lot of time and opportunities to shop. The schedule of the bazaar for each day is 10AM to 8:30 PM.

What to expect at this year’s bazaar? Based on the official image from Madison Galeries, there will be clothing, toys, appliances, electronics, hardware and other items that can be ideal for gift-giving this Christmas season. As with the past editions of the Mardi Gras Bazaar, a discount of up to 80% will be applied on certain items for sale.

Still on Madison Galeries, it should be noted that The Madison Events Place Facebook page shared the 2023 Mardi Gras Bazaar post which suggests that the 3^rd floor venue (The Madison Events Place itself) will be the place to go to. Going back to 2019, I personally attended the Mardi Gras Bazaar and the Village Food Fair 2 (click here) on separate occasions and both special events utilized The Madison Events Place as the main venue. The said venue is a really nice and spacious indoor facility that is also comfortable, secure and fully air-conditioned.

Personally, I am eager to attend this upcoming event. For those of you who have yet to visit Madison Galeries in Alabang, the mall has sufficient parking spaces (note: there are elevated indoor parking levels inside).

Watch out for Mardi Gras Bazaar at Madison Galeries on November 18 to December 31, 2023. Visit the mall along Don Jesus Boulevard in Barangay Cupang, Muntinlupa City. The said boulevard is accessible through Alabang Hills Village (for those who have AHVA car stickers) and the West Service Road. Visit Madison Galeries’ official FB page at https://www.facebook.com/MadisonGaleries

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For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Muntinlupa City Government recognized by the Philippine Chamber of Commerce and Industry (PCCI) and the Department of the Interior and Local Government (DILG)

November 9, 2023November 6, 2023carlocarrasco

Recently the City Government of Muntinlupa was recognized and commended by the Philippine Chamber of Commerce and Industry (PCCI) and the Department of the Interior and Local Government (DILG), according to a Manila Bulletin news report.

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

The Muntinlupa City government earned recognition and commendations from the Philippine Chamber of Commerce and Industry (PCCI) and the Department of the Interior and Local Government (DILG).

The PCCI gave the Muntinlupa City government a special recognition at the 2023 Most Business-Friendly Local Government Unit Awards.

The city government also received eight major commendations at the 2023 Urban Governance Exemplar Awards organized by DILG.

“Indeed, we have many, many reasons to be proud of our city. But most of all, we are very grateful for the validation of our efforts to make life better for all Muntinlupeños. Mabuhay tayo!” said Mayor Ruffy Biazon.

The city government earned the special citation from the PCCI for its continuing commitment to excellence in business transactions, such as the multi-awarded Business One-Stop Shop (BOSS) system.

It can be recalled that Muntinlupa has been recognized several times by the PCCI as the Most Business-Friendly LGU in the country for its innovative and people-centric approach to business transactions.

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 delighted over what the City Government achieved with regards to public service, business-friendliness and efficiency?

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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IRR of the Maharlika Investment Fund finalized

November 9, 2023November 6, 2023carlocarrasco

President Ferdinand “Bongbong” Marcos, Jr., announced through social media that the implementing rules and regulations (IRR) of the Maharlika Investment Fund (MIF) have been finalized, according to a GMA Network news report.

Take note that the implementation was previously suspended and things should move forward from this point on. Already there were business leaders of Saudi Arabia who expressed interest in the MIF.

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

President Ferdinand “Bongbong” Marcos Jr. said Monday that the implementing rules and regulations of the Maharlika Investment Fund (MIF) have been finalized, weeks after he said its implementation was suspended.

“The Investment Rules and Regulations of Maharlika Investment Fund have been finalized,” Marcos said on Instagram.

“Upon our approval, we’ll swiftly establish the corporate structure, getting the MIF up and running,” he added.

The IRR, which would spell the beginning of MIF’s operationalization, was released in August. Marcos announced the suspension of its implementation “pending further study” on October 18.

Before leaving for Saudi Arabia last month, Marcos clarified that the MIF was not put on hold, saying the government was still working to have it operational within the year.

“We are, the organization of the Maharlika Fund proceeds apace, and what I have done though, is that we have found more improvements we can make, specifically to the organizational structure of the Maharlika Fund,” the President had said.

Marcos had said the suspension of the IRR should not be misinterpreted as a judgement of rightness or wrongness of the MIF.

he President also maintained that economic managers and “personalities who will actually be involved in the fund” had been consulted regarding the MIF.

Marcos signed into law Republic Act No. 11954 or the Maharlika Investment Fund (MIF) Act of 2023 in July, with the aim to tap state assets for investment ventures to generate additional public funds.

The law creates the Maharlika Investment Corp. (MIC), a government-owned company that will manage the MIF — a pool of funds sourced from state-run financial institutions that will be invested in high-impact projects, real estate, as well as in financial instruments.

Under the law, the initial capitalization of the MIF would be sourced from Landbank at P50 billion, DBP at P25 billion, and the national government at P50 billion.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think that there is no stopping the implementation of the Maharlika Investment Fund in the near-future?

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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BIR admits taxing social media influencers is difficult

November 7, 2023November 3, 2023carlocarrasco

As far as the Bureau of Internal Revenue (BIR) is concerned, implementing taxes on social media influencers and collecting from them are still hard to do, according to a Philippine Star news report.

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

The Bureau of Internal Revenue (BIR) continues to have difficulty in making social media influencers comply with the country’s tax laws even amid a widening adoption of various social media platforms as a form of income.

BIR Assistant Commissioner Jethro Sabariaga said the country’s largest revenue collecting agency remains in dialogue with social media influencers for them to pay their tax obligations to the government.

The BIR decided to seek a dialogue with the influencers in March this year. Sabariaga admitted that it is difficult for the BIR to get revenues from the digital space.

“Yes, (it is difficult). We will not mince with words. It might take some time, but that’s what we’ve been doing,” Sabariaga said.

“We are trying to win their side in the engagement process. The more that you can ask them to do voluntary compliance, the better rather than to fight with them,” he said.

BIR defines social media influencers as people whose digital posts are being monetized, classifying them as self-employed individuals or persons engaged in trade or business as sole proprietors.

The BIR earlier said it was looking into some 250 top earning social media influencers to see if they have been paying their obligations.

Based on BIR’s circular, influencers are required to pay income tax and percentage tax or value-added tax, if applicable, as mandated by the Tax Code.

According to the BIR, influencers derive their income from YouTube, sponsored social and blog posts, display advertising and affiliate marketing, among others.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you agree with the BIR’s plan to tax social media influencers? Is your favorite vlogger or YouTuber based in the Philippines who might have made some revenue online based on his or her output?

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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National economic managers expect government collections to exceed 2023 revenue target

November 7, 2023November 4, 2023carlocarrasco

Even though it looks like that economic growth for the Philippines this year will end up short of 7%, the economic managers of the Marcos administration expect revenue collections to exceed the target for 2023, according to a GMA Network news report.

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

The economic managers of the Marcos administration are expecting the government revenue collections this year to exceed target amid measures to improve tax administration and collection efficiency.

In a statement following a special coordination committee meeting on Friday, the Development Budget Coordination Committee (DBCC) said the “emerging total revenue collection for 2023 is estimated to be P3.84 trillion to P3.90 trillion.”

The projected revenue collection for the entire year is above the P3.73-trillion target set earlier by the DBCC.

In April, the economic managers set the revenue goal at P3.73 trillion this year, P4.184 trillion in 2024, P4.692 trillion in 2025, P5.255 trillion in 2026, P5.895 trillion in 2027, and P6.621 trillion in 2028.

The DBCC, chaired by the Budget chief, is composed of the secretaries of National Economic and Development Authority (NEDA), Finance (DOF), as well as the governor of the Bangko Sentral ng Pilipinas (BSP).

The DBCC, likewise, is expecting tax revenues to clock in at P3.50 trillion to P3.55 trillion, surpassing the target by about 15%.

The above-target revenue project resulted from the higher actual collections in the first nine months of 2023, which reached P2.84 trillion, up 6.8% year-on-year and exceeding the target for the period by 3%.

This, as both tax and non-tax revenues registered positive growth at 6.4% and 10.5%, respectively, “owing to the higher collections from the Bureau of Customs (BOC) and non-tax revenues of P152.57 billion.”

The DBCC said the Bureau of Internal Revenue (BIR) and the BOC are implementing several reforms to strengthen tax administration and enhance revenue collection, which include digitalization programs intended to eliminate corruption, increase transparency, and improve the ease of paying taxes.

Tax reform measures – Moreover, the economic managers said they will work closely with Congress for the passage of the previous administration’s remaining tax reforms on passive income and financial intermediaries taxation and real property valuation and assessment, as well as new tax measures.

“These include the excise tax on single-use plastics (SUPs), rationalization of the mining fiscal regime, motor-vehicle road users’ tax, excise tax on sweetened beverages and junk foods, tax on pre-mixed alcohol, value-added tax (VAT) on digital service providers, carbon taxation, capital market development bill, and the military and uniformed personnel (MUP) pension reform bill,” the DBCC said.

Meanwhile, the national government’s disbursement accelerated significantly from 93.4% of the program as of June 2023 to 98.9% as of September.

“This was mainly driven by the robust disbursement in the third quarter, reaching P3.82 trillion as of the end of September,” the economic managers said.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think that government collections will exceed the 2023 revenue target?

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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3-week transition period for incoming barangay and SK officials set by DILG

November 6, 2023November 2, 2023carlocarrasco

With the Barangay and Sangguniang Kabataan Elections (BSKE) over and most winning candidates already proclaimed by the Commission on Elections (COMELEC), the Department of the Interior and Local Government (DILG) set a transition period of three weeks for the incoming barangay and SK officials, according to a Manila Bulletin news report.

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

The Department of the Interior and Local Government (DILG) is giving a maximum of three weeks as transition period for the newly elected barangay and Sangguniang Kabataan (SK) officials.

DILG Secretary Benjamin ‘Benhur’ Abalos Jr. explained that the allotted transition period is important as this will spell the difference whether the incoming officials could immediately buckle down to work or not.

“Ang transition period na binibigay natin ay three weeks. Napaka-importante na ma-turn-over sa mga bagong opisyal properly ang properties ng barangay. Ilang computer ‘yan, ilang kotse ’yan. (The transition period we are giving is three weeks. It is important that the barangay properties are properly turned over to the new officials. How many computers are there, how many cars). Are they in good condition?’’ Abalos noted.

To ensure smooth transition, Abalos announced the issuance of DILG Memorandum Circular (MC) No. 2023-166, which newly-elected SK and barangay officials can use as guide prior and during their assumption.

“Likewise, outgoing barangay officials were instructed to submit the final inventory of the Barangay and SK properties, financial records, documents, and properties (PFRDs) and money accountabilities and to ensure turnover of the same to the incoming or newly elected officials,’’ the DILG stated.

“Ayaw po nating magkagulo. Inuulit ko po ang announcement na ito sapagkat this will cover all the barangays and SK sa (buong) Pilipinas. Pagka-oath mo, coordinate with our DILG officer na nasa ground at binigyan namin sila ng instructions dito na magkaroon ng proper turnover (We do not want any chaos. I am reiterating this announcement since this will cover all the barangay and SK in the Philippines. After taking your oath of office, coordinate with the DILG office on the ground and we gave them instructions to have proper turnover),’’ he added.

The DILG chief also clarified that he was prompted to issue the guidelines following the advice of the Commission on Elections (Comelec) that winning barangay and SK election candidates, upon being proclaimed and taking their oath, can effectively assume office.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you agree with the DILG on setting a 3-week transition period for the incoming barangay and SK officials?

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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Muntinlupa City Mayor looking forward to programs and plans of BSKE winners

November 3, 2023November 2, 2023carlocarrasco

In Muntinlupa City, Mayor Ruffy Biazon expressed that he is looking forward to the kind of plans and programs that the winners of the recent Barangay and Sangguniang Kabataan Elections (BSKE) would execute within their respective communities, according to a Manila Bulletin news report.

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

Muntinlupa Mayor Ruffy Biazon said he is looking forward to what kind of programs the winning candidates in the Oct. 30 elections will implement in their respective barangays.

Filipinos voted in the Barangay and Sangguniang Kabataan Elections (BSKE) to choose their new leaders.

“Congratulations sa mga nanalo sa Barangay and Sangguniang Kabataan Elections 2023! Looking forward ako sa mga programang isusulong niyo sa barangay niyo (Congratulations to all the winners in the Barangay and Sangguniang Kabataan Elections 2023! Looking forward to programs that you will promote in your barangay),” Biazon posted on Facebook.

He added, “Sana ay magkatulungan din tayo sa pagsulong mg 7K Agenda ng pamahalaang lungsod (I hope we can cooperate in promoting the 7K Agenda of the city government).”

“Sa mga hindi nagwagi, don’t look at this as the end of the road. See it as a fork on the road that allows you to change the scenery of your journey towards the goal of helping your city and the people,” he said.

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, were the barangay and SK elections in your local community held peacefully? Are you aware of who has been elected as the captain, SK chair and councilors in your barangay? Were all the winners in your barangay proclaimed already by the local COMELEC?

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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Global Handwashing Day celebrated in Las Piñas City

October 27, 2023October 24, 2023carlocarrasco

Recently in the City of Las Piñas, the City Government commemorated Global Handwashing Day with special activities at an elementary school in Barangay Talon Uno, according to the LGU’s social media post of October 23, 2023. Present during the event were Vice Mayor April Aguilar and Maynilad officials.

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

On Friday, October 20th, Las Piñas City commemorated Global Handwashing Day with a series of activities at the Talon Elementary School in Barangay Talon Uno. The event, which was conducted in partnership with Maynilad, aimed at instilling the importance of hand hygiene among the young minds. Graced by the presence of City Vice Mayor April Aguilar, the celebration demonstrated a united front against health adversities, emphasizing the simple act of handwashing as a frontline defense against illnesses.

At the event, Vice Mayor Aguilar highlighted the significance of regular handwashing, especially amidst the ongoing global health crisis. She commended the collaboration between the city and Maynilad in orchestrating such a crucial awareness campaign, showcasing the synergy between public and private sectors in promoting community health.

The successful celebration of Global Handwashing Day in Las Piñas underlines the city’s proactive approach in health education, setting a robust foundation for a healthier and more informed community.

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? Do you think that a lot of people often forget to wash their hands? Do you find the local Global Handwashing Day event helpful when it comes to emphasizing a culture of health consciousness?

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

Note: Photo displayed is from the Las Piñas City PIO.

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PNP and COMELEC formally sign data sharing agreement related to BSKE

October 26, 2023October 24, 2023carlocarrasco

With the anticipated Barangay and Sangguniang Kabataan Elections (BSKE) all set for October 30, 2023 (a declared non-working day), the Philippine National Police (PNP) and the Commission on Elections (COMELEC) recently signed a formal agreement on data sharing related to the said elections, 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…

The Philippine National Police (PNP) entered into a data sharing agreement (DSA) with the Commission on Elections (Comelec) to ensure the integrity and transparency of the Barangay and Sangguniang Kabataan Elections (BSKE) on Oct. 30.

PNP chief Gen. Benjamin Acorda Jr., director for operations Brig. Gen. Leo Francisco and Comelec officials led by Chairperson George Garcia, Commissioner Nelson Celis and Executive Director Teopisto Elnas Jr. graced the signing rites at Camp Crame, Quezon City on Monday, the PNP said in a news release Tuesday.

The pact grants Comelec access to the PNP’s Election Monitoring Systems and subsystems and outlines specific areas of collaboration aimed at bolstering the electoral process, pursuant to Republic Act 10173 or the Data Privacy Act.

Key components include access to the PNP Personnel Deployment, Surrendered Firearms, Voting Center Assistance, Election Status, Candidates, Party-lists, Voting Center, Treasurer’s Office, Unlawful Election Materials, Gun Ban Details, Violations thereof, and other critical data related to the elections.

The agreement also allows access to various subsystems within the PNP Election Monitoring System including geo-tagging for vote-buying, a separate subsystem for vote-buying, and another for Task Force Kontra Fake News, following the Comelec’s specifications.

“We will make a difference in ensuring that the upcoming Barangay and Sangguniang Kabataan Elections of 2023 serve as a shining example of democracy in action,” Acorda said.

He also urged the public to trust the electoral process, assuring them that all measures are being taken to guarantee a smooth, secure, and credible BSKE 2023.

“Suffrage is more than just voting; it represents the heart of democracy. It gives individuals the power to shape their nation and participate in its governance. The BSKE is an integral part of our electoral system, providing a platform for citizens to exercise this valued right,” Acorda said.

Let me end this piece by asking you readers: What do you think about this recent development? Do you think the data sharing agreement between the COMELEC and the PNP will help preserve the integrity of the BSKE?

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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