Recent News

  • By Zaldy De Layola, July 26, 2024; Philippine News Agency https://www.pna.gov.ph/articles/1229846 MANILA – Department of Social Welfare and Development (DSWD) Secretary Rex Gatchalian on Friday ordered the agency’s Disaster Response Management Group (DRMG) to ensure the full automation of the inventory management of the Disaster Response Command Center (DRCC), which President Ferdinand R. Marcos Jr. described in his third State of the Nation Address (SONA) as “the central hub for the government’s disaster response effort.” “We have to perfect the DRCC automation of the inventory management or the Automated Data Management System for Inventory. Basta ang importante, naka-preposition tayo (The important thing is, we have prepositioned [relief goods] with an aggressive digitalized system for inventory),” Gatchalian told DRMG officials during a meeting, according to a news release. Gatchalian said the prepositioning of relief goods is an innovation of President Marcos. “This is the vision of the President. We just put this [prepositioning] into action. It was started by then Secretary Erwin Tulfo and we built on it,” Gatchalian earlier said in a TV interview. In his SONA on Monday, President Marcos acknowledged that the government has established infrastructures that serve as protection and center for coordination, especially along the delivery of services and relief goods. “Within the past two years, almost a hundred evacuation centers have already been built. While in January of this year, we started the operations of our Disaster Response Command Center, which shall serve as the central hub for the government’s disaster response efforts,” the President said. Since its launch in January, the DRCC stands as a central hub for disaster monitoring, reporting and coordination of response efforts. The DRCC utilizes advance information and communication equipment/assets to ensure the seamless collaboration between the DSWD central office, DSWD field offices (FOs), member-agencies of the National Disaster Risk Reduction and Management Council (NDRRMC) and other stakeholders. Gatchalian said the DRCC is reinforced by the Mobile Command Centers (MCCs), which bridge the communication gap during disaster or emergency operations by providing linkage from the disaster-stricken area to the Regional Operations Center (ROC), DRCC or the Regional DRRMC. Each MCC is equipped with state-of-the-art satellite internet, gadgets, and generators that can be used as a source of power supply and internet connection for communities in disaster areas. “This means that it can help a lot of affected residents to connect with their loved ones when the power supply in their area is down,” he said. Aside from aiming to fully automate the DRCC, Gatchalian also ordered the DRMG to develop perfectly the “Buong Bansa Handa” (BBH or Entire Nation Ready) program of the Department. “The BBH has to be perfected. This BBH program was built for any type of disaster, man-made or natural,” he said. The BBH establishes two parallel supply chain mechanisms for disaster preparedness and response which enhance the capacity of the Department in meeting the needs of affected families in various disaster-stricken areas. The first mechanism features a national and local government-driven supply chain that improves the production capacities and processes of the DSWD’s National Resource Operations Center in Pasay City, the Visayas Disaster Resource Center in Cebu, and the warehouse and storage facilities across the 16 DSWD FOs. The second mechanism refers to the Department’s forging of partnerships with established large and small groceries, supermarkets, manufacturers, and distributors to leverage on their technical expertise and resources to create a private sector-driven supply chain. Under these partnerships, the DSWD aims to achieve a more effective and reliable supply chain, ensuring comprehensive coverage and timely assistance. Meanwhile, the Armed Forces of the Philippines (AFP) has deployed 71 search, rescue, and retrieval (SRR) teams to help in ongoing relief efforts due to the effects of the enhanced southwest monsoon and Typhoon Carina. In a statement Friday, AFP public affairs office chief Col. Xerxes Trinidad said the 71 SRR teams consist of 1,882 personnel, along with 66 land assets, 10 water assets and one air asset. Inclement weather persists in some areas while floods in some provinces in Luzon have yet to subside as of posting time. “In addition, 557 SRR teams with 5,741 personnel, 428 land assets, 50 water assets, and 10 air assets are on standby alert to ensure readiness for further deployment as needed,” he added. In line with the President Marcos’ instructions, Trinidad said the military is assisting local government units and the Office of Civil Defense in providing immediate needs to isolated areas, conducting rapid damage assessment and needs analysis and facilitating recovery and relief operations. Trinidad said the Civil-Military Operations Coordinating Center has been activated to coordinate with government agencies, civic organizations and international humanitarian communities, ensuring continuous delivery of basic services, especially in severely affected areas. (with Priam Nepomuceno/PNA)

  • By Beatriz Marie D. Cruz, July 25, 2024; BusinessWorld https://www.bworldonline.com/top-stories/2024/07/25/610131/ng-budget-deficit-narrows-in-june/ THE NATIONAL Government’s (NG) budget deficit narrowed by 7.24% year on year in June, as revenue collection grew at a faster clip than spending, the Bureau of the Treasury (BTr) said on Wednesday. Treasury data showed the budget gap shrank to P209.1 billion in June from P225.4 billion a year ago. Month on month, the budget deficit widened by 19.54% from P174.9 billion in May. In June alone, revenue collections jumped by 10.93% to P296.5 billion from P267.3 billion in the same month last year. Tax revenues rose by 3.37% to P249.3 billion in June, mainly driven by the 4.71% increase in collections by the Bureau of Internal Revenue (BIR) to P172.5 billion, net of a P4.3-billion tax refund. Collections by the Bureau of Customs (BoC) inched up by 0.67% to P74.6 billion, while those by other offices fell by 5.54% to P2.2 billion. Nontax revenues surged by 80.6% to P47.2 billion in June, driven by the 158.57% jump in revenues by other offices to P39.8 billion. Revenues by the Treasury declined by 31% to P7.4 billion in June, “due to lower dividend remittance and income from BTr-managed funds.” On the other hand, state spending increased by 2.62% year on year to P505.6 billion in June. “The increase was mostly attributed to the implementation of capital outlay projects of the Department of Public Works and Highways, and the Department of National Defense under its Revised AFP Modernization Program, the preparatory activities of the Commission on Elections for the 2025 National and Local Elections, and the higher National Tax Allotment shares of local government units (LGUs),” the Treasury said. However, this was tempered by lower subsidy releases and lending to government-owned and -controlled corporations (GOCCs). Primary expenditure (net of interest payment) rose by 2.3% to P450 billion in June. Interest payments went up by 5.22% to P55.6 billion. GAP WIDENS For the first six months, the budget gap widened by 11.2% to P613.9 billion from P551.7 billion a year ago. The six-month deficit was 7.24% below the P661.8-billion program for the period as revenues were better than expected. For the January-to-June period, revenue collections jumped by 15.56% to P2.15 trillion from P1.86 trillion last year. It exceeded the P2.08-trillion target for the first half by 3.49%. Tax revenues, which accounted for 85% of the total revenues, rose by 10.05% to P1.84 trillion as of end-June. This was 1.43% lower than the government’s first semester goal of P1.86 trillion. BIR collections went up by 11.72% to P1.36 trillion but missed the P1.4-trillion target by 2.92%. Revenues by Customs increased by 5.1% to P455 billion and also exceeded the P442.6-billion goal by 2.91%. Nontax revenues in the first six months surged by 63.3% to P314.2 billion from P192.4 billion last year. This was 46.10% higher than the P215.1-billion target. Treasury income jumped by 76% to P163.9 billion “on account of higher dividend remittance, interest on advances from GOCCs, and NG share from PAGCOR (Philippine Amusement and Gaming Corp.) income.” The Treasury exceeded the revised midyear program by 26.91% and is only P23.1 billion short of the P187-billion full-year target. Meanwhile, expenditures for the January-to-June period increased by 14.6% to P2.76 trillion from the P2.41 trillion a year ago. It was 0.9% higher than the P2.74-trillion target for the six-month period. Primary expenditure increased 12.06% to P2.39 trillion in the first half from P2.13 trillion a year prior. In the first six months, interest payments jumped by 33.55% to P377.2 billion from P282.5 billion last year. “While June showed improvement in deficit reduction, the first-half deficit widened year over year. However, the government’s ability to exceed revenue targets and keep the deficit below the midyear goal indicates some level of fiscal discipline,” Security Bank Corp. Chief Economist Robert Dan J. Roces said in a Viber message. Mr. Roces said the challenge for the government is to keep a balance between revenue growth and spending to ensure the budget deficit is under control. Jonathan L. Ravelas, senior adviser at professional service firm Reyes Tacandong & Co., said the government would still need additional funding for the priority programs that President Ferdinand R. Marcos, Jr. identified in his third State of the Nation Address (SONA). “(Programs for) agriculture, infrastructure and disaster preparedness needs funding, so where will it come from? The DoF said no new taxes. Likely from higher borrowings,” he said in a Viber message. The NG’s borrowing program is set at P2.57 trillion this year, of which 75% will come from domestic sources and the rest from foreign sources. Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the collection of withholding taxes from online sellers, which started on July 15, is expected to boost tax revenues for the rest of the year. “(The withholding tax collection) will help increase the country’s recurring tax revenues, narrow the budget deficit, and improve the overall fiscal performance,” he said. For this year, the government set the deficit ceiling at 5.6% of gross domestic product, equivalent to P1.48 trillion. At the end of 2023, the budget deficit stood at P1.51 trillion, exceeding the P1.499-trillion ceiling.

  • By Luisa Cabato, July 20, 2024; Philippine Daily Inquirer https://newsinfo.inquirer.net/1962909/marcos-signs-laws-to-improve-govt-procurement-system-curb-online-scams#:~:text=In%20a%20ceremony%20at%20the,more%20economical%20and%20responsive%20process. Manila, Philippines — President Ferdinand Marcos Jr. approved the New Government Procurement Act (NGPA) and the Anti-Financial Account Scamming Act (AFASA). In a ceremony at the Malacañan Palace on Saturday, July 20, Marcos signed the NGPA or Republic Act 12009, which is a harmonized version of Senate Bill No. 2593 and House Bill No. 9648, that aims to address loopholes in the current government procurement system for a more economical and responsive process. “The NGPA streamlines the procurement process from three months to just 60 days by standardizing procurement forms and institutionalizing electronic procurement,” Marcos said in his speech. One of the significant features of the NGPA is the provision of 11 new modalities of procurement that will give government agencies greater flexibility in choosing ways to procure goods and services. Moreover, the new law introduces the “Most Economically Advantageous Responsive Bid,” which evaluates both the qualitative and economic value of a proposal, as opposed to the current practice of selecting the “Lowest Calculated and Responsive Bid.” On the other hand, AFASA or RA No. 12010, intends to protect Filipinos from online scams. “This new law mandates financial institutions to implement necessary safeguards to protect our citizens’ accounts. It will protect our people from falling prey to perpetrators who target their banks and e-wallet accounts,” Marcos said. “This is essential in this time as cybercriminals use technology to defraud fellow Filipinos — causing not only personal economic loss through them but also a loss of trust in financial institutions,” he added. The Legislative Executive Development Advisory Council led by Marcos tagged the two laws as priority measures. In a separate statement, the Bangko Sentral ng Pilipinas (BSP) said it welcomes the passage of AFASA. “We express our full support for the new anti-financial account scamming law. This will help us strengthen consumer protection and foster trust and confidence in the Philippine financial system,” said BSP Governor Eli M. Remolona, Jr. AFASA authorizes the BSP to investigate cases that violate the law, apply for cybercrime warrants and orders, and request assistance from the National Bureau of Investigation and Philippine National Police in the investigation of cases. It also allows the BSP to examine and investigate bank accounts, e-wallets, and other financial accounts that are involved in prohibited acts.

  • By Ian Nicolas P. Cigaral, July 18, 2024; Philippine Daily Inquirer https://business.inquirer.net/469138/ph-still-among-aseans-fastest-growing-economies The Marcos administration will hit its growth target this year amid easing inflation and expectations of interest rate cuts, but economic expansion next year might fall short of the state’s goal, according to the latest outlook of the Asian Development Bank (ADB). In its flagship “Asian Development Outlook” report released on Wednesday, the Manila-based multilateral lender kept its gross domestic product (GDP) growth projection on its host country at 6 percent for this year. The ADB’s forecast, if realized, would give President Ferdinand Marcos Jr. a GDP growth rate that would match the lower end of his 6- to 7-percent target range for this year. At the same time, the Philippines would tie with Vietnam as the fastest growing economy in Southeast Asia, or Asean, in 2024. Both countries would also beat the 5-percent average growth rate projected for Developing Asia, which refers to the 46 developing members of the ADB. 2025 growth may fall below gov’t target For 2025, the ADB retained its 6.2 percent growth projection for the Philippines, which would settle below the government’s growth target of 6.5 to 7.5 percent for next year. Nevertheless, the Philippines would still share the top spot with Vietnam as the best performers in the region in 2025, if ADB’s forecasts come true. The ADB said softer price increases and upcoming rate cuts by the Bangko Sentral ng Pilipinas (BSP) would help support consumer spending, which historically accounts for over 70 percent of the country’s GDP. “Moderating inflation and expected monetary easing in the second half of 2024 will support household consumption and investment,” ADB said. Based on government data, growth of household spending eased to 4.6 percent in the first quarter—the weakest reading since the 4.8-percent contraction at the height of COVID-19 pandemic in the first quarter of 2021—amid stubbornly high inflation and interest rates. That, in turn, held back the first quarter GDP growth to 5.7 percent, slower than market consensus. Benign inflation With inflation expected to cool down following the government’s decision to reduce import duties on rice, BSP Governor Eli Remolona Jr. said the central bank might start its easing cycle in August, likely ahead of the US Federal Reserve. In its report, the ADB also left its inflation forecasts for the Philippines untouched at 3.8 and 3.4 percent for this year and next, respectively. If realized, inflation would settle within the BSP’s 2- to 4-percent target range. “Most of Asia and the Pacific is seeing faster economic growth compared with the second half of last year,” said ADB chief economist Albert Park. “The region’s fundamentals remain strong, but policy makers still need to pay attention to a number of risks that could affect the outlook, from uncertainty related to election outcomes in major economies to interest rate decisions and geopolitical tensions,” Park added.

  • By RG Cruz, July 15, 2024; ABS-CBN News https://news.abs-cbn.com/news/2024/7/15/bills-bills-bills-congress-plays-catch-up-with-priority-bills-as-2025-elections-loom-1619 More than 2 years into President Ferdinand Marcos, Jr’s 6-year term, his congressional allies are racing against time to deliver his growing wish list of priority bills. Emerging from the June 28, 2024, Legislative Executive Development Advisory Council Meeting, the President and congressional leaders came up with 10 top priority bills set for passage before the end of the 19th Congress next year. Of the 10, the newest would be the Amendments to the Foreign Investors’ Long-Term Lease Act. The rest are long standing proposals including: The Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act, The bill creating the Department of Water Resources Amendments to the Right-of-Way Act The Excise Tax on Single-Use Plastics Rationalization of the Mining Fiscal Regime Amendments to the Electric Power Industry Reform Act (EPIRA), Reforms to Philippine Capital Markets Archipelagic Sea Lanes Act, and Amendments to the Rice Tariffication Law Senate President Francis Escudero and House Speaker Martin Romualdez see these proposals as an added come-on to foreign investors as moves to amend the economic provisions of the 1987 Constitution remain stalled. Escudero’s proposal is to lengthen long-term leases on land to 99 years from the current 50, which is renewable by another 25, as there is no legal impediment. This, he said, will stabilize long term leases with the grant of a certificate of leasehold while allowing leaseholders to collateralize the land. Such long-term leases are being done in places such as Singapore, Europe, the United Kingdom and Hong Kong, he said. “Dahil sa Leasehold, dahil sa konsepto at karapatan ng Leasehold na may papel kang pinanghahawakan galing mismo ng gobyerno at hindi simpleng Contract of Lease lamang sa pagitan mo at ng pribadong lessor mo o nagpaupa sa’yo,” Escudero said in an exclusive sitdown with ABS-CBN News. Romualdez, who is the President’s cousin, has publicly supported Escudero’s proposal. Escudero took over the leadership of the Senate last May, replacing Sen. Juan Miguel Zubiri, following months of disagreement with the House over charter change. “I’ll join Senate President Francis Escudero sa initiative niya dito sa Foreign Investors’ Long-Term Lease Law para ito ay isang hakbang para ma-attract natin ang foreign investors. Hindi sila pwede bumili pero mahaba naman ‘yung long term lease contract sa lupa. So hindi ito binebenta sa foreigners. Sa foreign investors, long term lease contract aabot ng 50 years , aabot ng 99 years. Effectively may long term plan ang mga investors na mae-encourage dito at wala namang binebenta dito na sarili nating lupa sa mga dayuhan,” he said in a separate one-on-one interview with ABS-CBN News. Eight other bills are already in advanced stages of legislation and nearing the finish line. These 8 pieces of legislation will also be prioritized. The Anti-Agricultural Economic Sabotage Act, Amendments to the Government Procurement Reform Act, Anti-Financial Accounts Scamming Act, Self-Reliant Defense Posture Revitalization Act, Philippine Maritime Zones Act, Academic Recovery and Accessible Learning (ARAL) Program Act, VAT on Digital Services and The new Government Auditing Code. Ten other bills have been marked as Second Priority. These are: the Blue Economy Act, Enterprise-Based Education and Training Framework Act, Amendments to the Universal Health Care Act, Open Access in Data Transmission Act, Waste-to-Energy Bill, Mandatory Reserve Officers’ Training Corps (ROTC), Unified System of Separation, Retirement and Pension of Military and Uniformed Personnel, E-Government Act / E-Governance Act, Amendments to the Agrarian Reform Law, and The Philippine Immigration Act. Congress’ list of unfinished priorities however goes on with 19 other bills. These are the following: Magna Carta of Filipino Seafarers, Comprehensive Infrastructure Development Master Plan, National Disease Prevention Management Authority, Free Legal Assistance for Police and Soldiers, Eastern Visayas Development Authority, Passive Income and Financial Intermediary Taxation Act, National Land Use Act, Magna Carta of Barangay Health Workers, Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery (GUIDE), Leyte Ecological Industrial Zone, Enabling Law for the Natural Gas Industry, Amendments to the Cooperative Code, Medical Reserve Corps / Health Emergency Auxiliary Reinforcement Team (HEART), Virology Institute of the Philippines, National Government Rightsizing Program, Amendments to the Bank Deposits Secrecy Law, Budget Modernization Bill, National Defense Act, and Amendments to the Fisheries Code. Outside the LEDAC, Congress has other priorities including its annual deliverable that takes up most of its time – the National Budget. “Within the week ng presentation ng State of the Nation Address ay tradisyon po na ilalatag o isu-submit ng ating Pangulo through the Department of Budget and Management  Secretary ‘yung sinasabing NEP or National Expenditure Program  for the ensuing year 2025. Aabangan natin ‘yan. ‘Yan ang magiging panukalang budget  for 2025, ‘yun ang pinakamalaki at pinakamahalaga kasi lahat po ng programa, lahat ng proyekto at initiatives  ng ating presidente ng administrasyon – ni President BBM – ay ilalatag,” Romualdez added. Separately, Congressional leaders have also agreed to prioritize in their schedule the local bills of congressmen which are specific and parochial to their constituencies so they have something concrete to show to voters during election time. “Iyung mga parochial concerns ng kada kongresista  so sinabi naman natin kay Senate President Chiz kung  pwede tignan niyo as a priority din kasi wala naman itong kaso. In other words di na siguro mahirapan kayo i-debate ito sa Senado kasi parochial ito, kada distrito may mga concerns. So we will prioritize each congressman, anong priority 1-2 legislations nagkasunduan,” Romualdez said. “Matutuwa lahat ng mga congressman lalo na di ba may filing ngayon ano ipapakita ng ating mga congressman sa kanilang distrito. At least masasabi nila naipasa na nila ito, may isang panukalang batas na  malaking benepisyo sa distrito. Ito ang kanilang ipagmamalaki kaya on that score ‘yung sa local legislation ‘yan, isang priority din  basta tapusin nila lahat ng mga priority local legislations ng mga congressmen. Malaking bagay po din ‘yun.” Escudero notes many Senators now were also congressmen so they are cognizant of the needs of their colleagues in the Lower House. Aside Read More…

  • By B.M.D.Cruz, July 15, 2024; Business World https://www.bworldonline.com/top-stories/2024/07/15/607979/143-ppp-projects-in-the-pipeline-neda/#:~:text=THE%20GOVERNMENT%20has%20143%20public,over%20these%20past%20few%20months. The government has 143 public-private partnership (PPP) projects valued at P3.095 trillion in the pipeline as of July, with new projects centered on health and waste management, the National Economic and Development Authority (NEDA) said. “The number of pipeline projects has grown over these past few months. As of early July, we have 205 PPP projects, including those in local government units, under implementation and 143 projects in the pipeline,” NEDA Secretary Arsenio M. Balisacan was quoted as saying in a statement. Nine PPP projects amounting to P65 billion were added to the pipeline as of July. “We are also encouraged to note that more and more social infrastructure projects in health, water and sanitation, as well as solid waste management, are in the pipeline,” Mr. Balisacan added. The National Government leans on support from the private sector in shouldering its budgetary and infrastructure project implementation shortfalls. It has passed several policies over the past months that seek to create an enabling environment for infrastructure development. Republic Act No. 11966 or the PPP Code, which took effect in December last year, sought to increase private sector participation in financing, operating, and maintaining infrastructure projects. Under the Marcos administration’s “Build Better More” program, the government has 185 infrastructure flagship projects (IFP) valued at P9.54 trillion in the pipeline. Mr. Balisacan also said that 63 IFPs, including the Pasig-Marikina River channel improvement project, Central Luzon Link Expressway, and the Panguil Bay Bridge project, are currently underway. The NEDA chief said 31 more IFPs have been approved for implementation, six are awaiting government approval, and 82 are in the preparation stage. The government’s move to allow full foreign ownership in renewable energy projects as well as public utilities like telecommunications, domestic shipping, railways, subways, airlines, expressways, tollways and airports, is expected to increase foreign investments in infrastructure, Mr. Balisacan said. To fast-track implementation of infrastructure projects, the NEDA chief said there is a need to streamline and enhance processes and speed up the acquisition of right of way. In April, President Ferdinand R. Marcos, Jr. also signed Executive Order (EO) No. 59 to fast-track the processing of permits for infrastructure flagship projects. “By expanding and upgrading our infrastructure, we aim to create enabling conditions for high-quality job creation for millions of Filipinos, raise the competitiveness of our local industries, diversify our growth drivers to strengthen economic resilience, and enhance regional connectivity by linking our leading and lagging regions,” Mr. Balisacan said. Terry L. Ridon, a public investment analyst and convenor of think tank InfraWatch PH, said the pace of implementation of IFPs would depend on government agencies. “With legislation and policy frameworks in place, faster infrastructure development will now be determined by capable leadership of infrastructure agencies,” he said in a Viber message. “This leadership has not been apparent in the Transportation department with only one concluded PPP (Ninoy Aquino International Airport rehabilitation) by the President’s State of the Nation Address (in July.) The public is still waiting for its urgent action on the EDSA (Epifanio de los Santos Avenue) busway and MRT-3 (Metro Rail Transit Line 3) PPPs.” In May, the PPP Center said that its evaluation of Megawide Construction Corp.’s unsolicited proposal for the EDSA busway system is nearing completion. The Department of Transportation also said it is reviewing the terms of reference for the auction of MRT-3’s operations and maintenance contract by the first quarter of 2025. Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the government has implemented several measures, including the establishment of “green lanes,” to attract more investors in the Philippines. As of June 20, around P2.32 trillion worth of projects, mostly in renewable energy, have been approved to go through the “green lane” system, the Board of Investments said earlier. The government, through EO No. 18, established the “green lane” in all government agencies to speed up the approval and registration process for priority or strategic investments.

  • By Filane Mikee Cervantes, July 12, 2024; Philippine News Agency https://www.pna.gov.ph/articles/1228875 MANILA – A House leader on Friday pushed for the passage of a measure providing for a comprehensive and responsive civil registration and vital statistics system in the country. In a media forum, Deputy Majority Leader and Tingog Party-list Rep. Jude Acidre highlighted the importance of a responsive, free, and accessible delayed birth registration system for marginalized Filipinos. Acidre said many unregistered individuals come from marginalized communities, as they face challenges such as poverty, lack of access to healthcare, and disability, among others. He said House Bill 9572 or the proposed Civil Registration and Vital Statistics (CRVS) Act would make the registration process responsive and accessible, thereby addressing disparities and ensuring that “no one is left behind”. “This bill is especially crucial for Filipinos who, due to various circumstances, were not registered at birth. Delayed birth registration must be accessible to all, free from bureaucratic hurdles and financial burden,” the lawmaker said on his keynote speech. He said civil registration is an important part for an individual to establish legal identity, civil status, and family relations. “Birth certificates are not merely pieces of paper; they are the enduring and official documentation of a person’s existence. They are intricately linked to the rights of identity, nationality, and legal recognition. Without a birth certificate, an individual faces significant barriers in accessing social services, healthcare, employment, and education,” Acidre said. According to the Philippine Statistics Authority (PSA), 3.5 million Filipinos have no birth certificates, a chunk of them coming from geographically isolated and disadvantaged areas and the Bangsamoro Autonomous Region of Muslim Mindanao (BARMM). The House of Representatives is targeting to pass the bill before the 19th Congress ends in May 2025. Acidre said the chamber is collaborating with the PSA to strengthen the agency’s mandate and make it a more capable and effective pillar of the state in bridging the gaps in the civil registration system. Acidre said the proposal would ensure that every Filipino is recorded and documented, noting that the CRVS system will be a cornerstone in the government’s efforts to promote “inclusive development and social equity”. “By ensuring that every birth is registered, we are laying the foundation for a society where everyone can exercise their rights and access essential services,” he said. Aside from Acidre, other authors of the bill are Speaker Ferdinand Martin Romualdez, Tingog Party-list Rep. Yedda Marie Romualdez, Presidential son and Ilocos Norte Rep. Sandro Marcos, and BHW party-list Rep. Angelica Natasha Co. (PNA)

  • By Justine Irish D. Tabile, July 2, 2024; BusinessWorld https://www.bworldonline.com/economy/2024/07/02/605708/tatak-pinoy-registration-medical-aid-applications-targeted-for-streamlining/ THE Anti-Red Tape Authority (ARTA) said it is proposing “green lanes” for registering Tatak Pinoy projects as well as the streamlining of the application process for medical and financial assistance at government hospitals. ARTA Director General Ernesto V. Perez said the green lanes will be implemented via the joint memorandum circular (JMC) adopted for expediting the establishment of coronavirus disease 2019 (COVID-19) vaccine manufacturing facilities. “We’re trying to see if we can apply this JMC to other sector initiatives. And this initiative may be utilized in the institutionalization of green lanes for Tatak Pinoy projects and exports,” he said. He also added that the JMC could be adopted to attract investors and manufacturers of drugs and medical devices, specifically by easing the import and export rules. JMC No. 1 Series of 2021 established green lanes, which expedited and streamlined the process of issuing permits for COVID-19 vaccine manufacturing facilities. Philippine Pharmaceutical Manufacturers Association President Higinio P. Porte, Jr., said Tatak Pinoy will benefit Philippine-made drug products. “This is what we are pushing to the pharmaceutical industry; however, we do not have a competitive advantage in the manufacture of generic or synthetic drug products,” Mr. Porte said. “Our competitive advantage is in herbal drug products. Pascual Laboratories, Inc., for instance, is among the top manufacturers for Lagundi and Sambong drug products,” he added. He said manufacturers can register herbal products backed by clinical studies through Tatak Pinoy as they are innovative and can be exported. “Under Tatak Pinoy, we can benefit from the government by being tax-free for several years. And when we build a facility, machinery imports will have zero tariffs,” he added. Signed into law in February, Tatak Pinoy (“Filipino brand”) seeks to improve the export competitiveness of Philippine companies by incubating and incentivizing products that carry the ‘made in the Philippines’ trademark. “Another recent initiative of ARTA in the health sector is the streamlining and harmonization of the provision of medical and financial assistance in government hospitals,” he said. “We aim to streamline the requirements, the process, and the turnaround time in processing applications for medical and financial assistance in all government hospitals nationwide,” he added. Aside from these initiatives, ARTA is also proposing the issuance of a joint administrative order (JAO) that will resolve the jurisdiction overlap between the Food and Drug Administration (FDA) and the Bureau of Animal and Industry (BAI). According to Mr. Perez, previous issuances by both the Department of Agriculture and the Department of Health affected importers whose shipments have been held up by the Bureau of Customs in the absence of an FDA clearance, despite being cleared by BAI. “A JAO will be finalized to delineate their regulatory functions, thereby resolving the jurisdictional overlap issues,” he added.

  • By Louella Desiderio, July 2, 2024; The Philippine Star https://www.philstar.com/business/2024/07/02/2367020/neda-blueprint-job-creation-out-november Manila, Philippines —  The government expects to complete the country’s employment master plan under the Trabaho Para Sa Bayan (TPB) Act by November this year, the National Economic and Development Authority (NEDA) said. “The plan will be drafted from September to October, with its finalization expected by November,” the NEDA said in a statement issued over the weekend. It said regional consultations will be conducted for the TPB blueprint from July to September. Under Republic Act 11962 or the TPB Act signed by President Marcos in September last year, the government is mandated to create a master plan aimed at increasing the number and quality of employment opportunities in the country, as well as enhancing the employability of the Filipino workforce. This plan will be crafted by the TPB Inter-Agency Council (IAC) chaired by the NEDA secretary and co-chaired by the secretaries of trade and labor. Also part of the council are the heads of the Technical Education and Skills Development Authority, Departments of Budget and Management, Finance and the Interior and Local Government, as well as representatives from the employers’ organizations, labor groups, marginalized or vulnerable sector and informal sector. During the National Employment Summit held at the Manila Hotel from June 26 to 27, the TPB-IAC presented the plan’s guiding document. The plan will prioritize the creation of more quality and decent jobs, as well as have robust employment policies with strong implementation measures, efficient monitoring and evaluation mechanisms. It will also advocate for equal employment opportunities regardless of age, gender, ethnicity or creed, and promote skills development and training as well as the collaboration of the government, formal and informal institutions and workers’ and employers’ organization to achieve goals. In addition, it will address future work challenges and ensure full protection for all workers, while recognizing the rights of both workers and enterprises. As the country is working on social and economic transformation, NEDA Secretary Arsenio Balisacan underscored the importance of a cohesive strategy for employment generation and preparations for  changes in the employment landscape. “This stance will help us prepare a more resilient workforce and enable us to design appropriate policies to support employers, employees, the vulnerable sector and the informal sector,” he said in his message delivered by NEDA Undersecretary Rosemarie Edillon.

  • By Christopher Lloyd Caliwan, June 28, 2024; Philippine News Agency https://www.pna.gov.ph/articles/1227851 MANILA – The Armed Forces of the Philippines (AFP) on Friday called on Filipinos to remain vigilant and critical in using and sharing information to avoid falling prey to disinformation efforts. AFP chief Gen. Romeo Brawner Jr. made the call, citing an “alarming surge” in disinformation campaigns aimed at eroding the public’s trust in the institution and the Philippine government. “We urge the public to verify sources and seek information from credible and official channels. Let us stand together in the face of these desperate attempts to spread discord,” Brawner said in a statement. He added that these disinformation efforts sow panic, divide the nation, and distract Filipinos from pressing issues that demand collective attention. “Disinformation not only distorts the truth but also undermines our unity and make(s) the country vulnerable to external challenges that threaten national security and stability,” Brawner said. He assured that the AFP remains committed to protecting the country and upholding the peace and security agenda of President Ferdinand R. Marcos Jr. “We call on every Filipino to join us in this endeavor, fostering a spirit of solidarity and resilience against those who wish to weaken our resolve,” the military chief added. (PNA)

  • By Filane Mikee Cervantes, June 27, 2024; Philippine News Agency https://www.pna.gov.ph/articles/1227844 MANILA – The inter-agency Development Budget Coordination Committee (DBCC) has pegged at PHP6.352 trillion the proposed national budget for 2025, its chairperson announced on Thursday. In a press briefing following the meeting, DBCC chairperson and Budget Secretary Amenah Pangandaman said the proposed spending plan for next year is equivalent to 22 percent of the gross domestic product (GDP), and 10.1 percent higher than this year’s budget of PHP5.768 trillion. Pangandaman said the DBCC will submit to Congress the proposed 2025 national budget on July 29, one week after the third State of the Nation Address (SONA) of President Ferdinand R. Marcos Jr. The proposed budget is anchored on the theme “Agenda for Prosperity: Fulfilling the Needs and Aspirations of the Filipino People”. In line with the Philippine Development Plan (PDP) 2023-2028, the proposed budget for next year aims to develop and protect the capabilities of individuals and families, transform production sectors to generate more quality jobs and produce competitive products, and foster an enabling environment encompassing institutions, physical and natural environment. Growth targets for 2024 to 2028 During the same briefing, Pangandaman said the DBCC maintained its economic growth targets for this year through 2028. Pangandaman said the Philippine economy is expected to “finish strong” at 6 to 7 percent in 2024, and expand further to 6.5 to 7.5 percent in 2025. “Despite external headwinds, we are expected to continue surpassing most emerging economies,” she said. She added the “robust growth momentum” is expected to continue over the medium term with a GDP projection of 6.5 to 8 percent from 2026 to 2028. “We are committed to implementing growth-enhancing strategies to mitigate these risks such as sustaining government efforts to address inflation, promoting and adopting digitalization to improve efficiency in government spending, accelerating infrastructure development, expanding skills development for our workforce, and strengthening inter-industry supply chain linkages, among others,” Pangandaman said. “This growth trajectory puts us firmly on the path to becoming an upper-middle-income economy in less than two years and reducing the poverty rate to single-digit levels by 2028,” she added. Meanwhile, Pangandaman said the DBCC expects inflation to settle between 3 percent and 4 percent this year, closer to the previous assumption of 2 to 4 percent. Pangandaman, however, said the country’s inflation outlook is “significantly lower than the average inflation in other emerging markets and developing economies at 8.3 percent and the global average of 5.9 percent, as projected by the International Monetary Fund (IMF). The DBCC expects inflation to be within the 2 to 4 target range between 2025 and 2028 through the proactive implementation of monetary policy measures and well-targeted government interventions that address the primary drivers of inflation. “This includes implementing the new Comprehensive Tariff Program for 2024 to 2028 to improve the affordability of essential commodities amid the rising global prices, and the Food Stamp Program to mitigate the impact of elevated food prices on the poor and vulnerable sector,” Pangandaman said. The DBCC lowered its assumption for Dubai crude oil prices this year to USD70-USD85 per barrel from the USD70-USD90 range previously. “The assumption of USD65 to 85 per barrel from 2025 to 2028 was maintained as global oil production is expected to rebound over the medium term, consistent with the backwardation observed in oil futures markets,” Pangandaman said. The DBCC updated its peso-dollar exchange rate assumption for 2024 from PHP55 to PHP57 against the US dollar to PHP56 to PHP58. “This is expected to broadly stabilize at PHP55 to PHP58 against the USD for the remainder of the medium term, given increasing tourism receipts, growing BPO (business process outsourcing) revenues, and robust overseas Filipinos remittances that will support and keep the currency stable and resilient against persisting global headwinds,” Pangandaman said. For this year, the DBCC raised its goods exports growth target to 5 percent from 3 percent, considering the “better-than expected outturn in the first quarter and an improved outlook for the global semiconductor market”. Goods exports are expected to grow to 6 percent in 2025 to 2028. Meanwhile, the DBCC lowered its growth projections for goods imports to 2 percent in 2024 and 5 percent in 2025 amid moderation in international commodity prices alongside the impact of tight monetary policy tempering consumption and investment activity. The previous growth targets for goods imports were pegged at 4 percent for 2024 and 7 percent for 2025. Pangandaman said the goods imports will remain supported by sustained infrastructure investments and are expected to grow by 8 percent from 2026 to 2028. The DBCC reviews and approves the government’s macroeconomic targets, revenue projections, borrowing level, aggregate budget level and expenditure priorities and recommend to the Cabinet and the President of the consolidated public sector financial position and the national government fiscal program. (PNA)

  • By Louella Desiderio, June 26, 2024; Philippine Star https://qa.philstar.com/headlines/2024/06/26/2365675/neda-board-approves-digital-infrastructure-project MANILA, Philippines — The National Economic and Development Authority (NEDA) Board yesterday approved a digital infrastructure project and adjustments to nine other ongoing infrastructure projects. In a statement, the NEDA said the NEDA Board chaired by President Marcos approved during its meeting yesterday the P16.1-billion Philippine Digital Infrastructure Project (PDIP), which is expected to help enhance broadband connectivity and bring high speed internet to disadvantaged areas. To be financed through official development assistance from the World Bank, the project is a flagship initiative of the Department of Information and Communications Technology. It involves the construction of a public broadband infrastructure network. The project has five components: backbone network; middle-mile network; access network (last-mile); network security and project management support. NEDA Secretary Arsenio Balisacan said broadband services have opened up opportunities for Filipinos like work-from-home arrangements, digital access to critical public and private services, including the latest technological tools such as artificial intelligence. “This project will enable us to connect more Filipinos to markets and networks, spurring economic development,” he said. Apart from the PDIP, the NEDA Board approved adjustments to the parameters of nine ongoing infrastructure projects, seven of which are part of the Infrastructure Flagship Projects list or priority infrastructure projects. The changes involve the scope, cost and extension of the project’s implementation period and loan validity. Projects with approved changes are the Local Governance Reform Project, Infrastructure Preparation and Innovation Facility, New Cebu International Container Port Project, Light Rail Transit Line 1 South Extension Project, Malolos-Clark Railway Project Tranche 1, Metro Manila Flood Management Project Phase 1, Reconstruction and Development Plan for a Greater Marawi Stage 2, Improving Growth Corridors in Mindanao Road Sector Project and the Panguil Bay Bridge Project. “The adjustments to these ongoing infrastructure projects were necessary to ensure their successful completion, advancing our national efforts to expand and upgrade our infrastructure, improve connectivity and create more jobs,” Balisacan said.

  • By Alexis Romero, June 26, 2024; Philippine Star https://qa.philstar.com/headlines/2024/06/26/2365682/congress-pass-20-priority-bills MANILA, Philippines — Lawmakers yesterday committed to pass 20 priority measures aimed at promoting development and attaining socioeconomic transformation within the remaining sessions of Congress. Members of the Cabinet and congressional leaders came up with a list of priority bills during the fifth Legislative-Executive Development Advisory Council (LEDAC) meeting led by President Marcos at Malacañang. “The council came up with a list of top priority bills that the members, the leaders of both houses of Congress, commit to pass within the remaining period of the current session,” Socioeconomic Planning Secretary Arsenio Balisacan said in a statement issued by the Presidential Communications Office. “So, these are ten bills that are considered top priority. And there’s a second list that consists of another ten. I think that’s another ten bills. And also the other bills that are in advanced stages, that are either at the (bicameral) stages or already enrolled bills,” he added. In an Instagram post, President Marcos said the priority bills were related to addressing rising prices, job generation and fighting poverty. “Just concluded the 5th LEDAC meeting, where we laid out our top legislative priorities – addressing rising prices, increasing job opportunities and reducing poverty,” Marcos said. “We continue to work hand in hand with the Senate and House of Representatives in enacting transformative legislation for a Bagong Pilipinas,” he added. The ten priority measures that lawmakers aim to approve before the end of the 19th Congress are the Reform to Philippine Capital Markets, Archipelagic Sea Lanes Act, Amendments to the Right-of-Way Act, Excise Tax on Single-Use Plastics, Rationalization of the Mining Fiscal Regime, Amendments to the Electric Power Industry Reform Act or EPIRA, Department of Water Resources, CREATE MORE Act, Amendments to the Foreign Investors’ Long-Term Lease Act and Amendments to the Rice Tariffication Law. Measures included in the second priorities list are the Blue Economy Act, Enterprise-Based Education and Training Framework Act, Amendments to the Universal Health Care Act, Open Access in Data Transmission Act, Waste-to-Energy Bill, Mandatory Reserve Officers’ Training Corps, Unified System of Separation, Retirement and Pension of Military and Uniformed Personnel, E-Government Act or E-Governance Act, Amendments to the Agrarian Reform Law and the Philippine Immigration Act. Bills that are in advance stages of deliberation are the Anti-Agricultural Economic Sabotage Act, Amendments to the Government Procurement Reform Act, Anti-Financial Accounts Scamming Act, Self-Reliant Defense Posture Revitalization Act, Philippine Maritime Zones Act, Academic Recovery and Accessible Learning Program Act, VAT on Digital Services and New Government Auditing Code. “We see the current leadership of Congress responding to these needs of our economy, of our society, so that we can achieve the socioeconomic transformation that is a program under the Marcos administration,” Balisacan said. A total of 17 out of 59 bills in the LEDAC common legislative agenda have been signed into law. ‘We did our job’ All of the priority measures listed by President Marcos have been passed by the House of Representatives, Speaker Ferdinand Martin Romualdez said yesterday in his report to the LEDAC meeting. “The House of the People has done its homework,” he said, revealing the chamber has approved on third and final reading last March, or three months ahead of schedule, all of the 20 priority LEDAC measures targeted for passage by the end of June 2024. “Our accomplishments reflect our proactive stance in catering to the needs of the people by passing these much-needed legislations that are attuned to the Philippine Development Plan and the 8-point socio-economic agenda under the Medium-Term Fiscal Framework of the President,” he added. He rendered the report to the full LEDAC meeting presided over by the President in Malacañang. Romualdez said the chamber that he leads is just now awaiting Senate action on several of the priority legislative proposals of the President and the LEDAC. The Speaker informed the LEDAC of the status of the 20 bills: three have been enacted into law and three are undergoing enrollment process – two conference committee reports adopted by both chambers and one adopted as an amendment to the House bill. Four bills are under deliberation by bicameral conference committees, while the 10 other measures have been approved on third and final reading by the House – some as early as September and December 2023 and four last March.

  • By Adrian Parungao, June 8, 2024; Philippine Daily Inquirer https://newsinfo.inquirer.net/1949578/marcos-streamline-governments-performance-evaluation-systems Manila, Philippines — President Ferdinand Marcos Jr. ordered the streamlining of the government’s Results-Based Performance Management System (RBPMS) and Performance-Based Incentive System (PBIS). The Presidential Communications Office (PCO) said in a statement Saturday that Marcos issued on June 3, 2024, Executive Order (EO) No. 61, which suspended Administrative Order No. 25-2011 and Executive Order No. 80-2012. AO No. 25 established a unified and integrated RBPMS across all departments and agencies within the Executive branch of government while EO No. 80, as amended by EO No. 201-2016), adopted a PBIS that comprises Productivity Enhancement Incentive (PEI) and Performance-Based Bonus (PBB) to motivate higher performance and exact greater accountability in the public sector and ensure accomplishment of government commitments and targets. According to the PCO, the RBPMS and PBIS “have been duplicative and redundant with the internal and external performance audit and evaluation systems of the government.” They “lacked a review mechanism leading to the accumulation of rules, regulations, and issuances from the Inter-Agency Task Force (IATF) on the Harmonization of National Government Performance Monitoring, Information and Reporting Systems,” it added. The PCO also noted that the prevailing RBPMS and PBIS “makes compliance burdensome, bureaucratic, laborious, and time consuming for government agencies.” EO No. 61 states: “It is imperative to streamline, align, and harmonize the RBPMS and PBI System with ease of doing business initiatives, and reform the government performance evaluation process and incentives system towards a more responsive, efficient, agile, and competent bureaucracy.” The PCO said the presidential directive mandates the creation of a Technical Working Group (TWG) that will review the existing RBPMS and PBIS. The Executive Secretary should form the TWG, which would include the chiefs of the Department of Budget and Management, Department of Finance, and National Economic and Development Authority; and the director general of the Anti-Red Tape Authority. EO No. 61 says the TWG may consult other government agencies to fulfill its task. The TWG was likewise instructed to submit a report to the Office of the President after conducting the review. EO No. 61 takes effect immediately.

  • By Cai U. Ordinario, June 3, 2024; Business Mirror https://businessmirror.com.ph/2024/06/03/pipeline-for-ppps-now-covers-134-projects-worth-%E2%82%B13-03t/#:~:text=THE%20national%20government’s%20pipeline%20for,billion%2C%20and%20delisted%20four%20projects. The national government’s pipeline for public private partnerships (PPPs) now covers 134 projects amounting to P3.03 trillion, according to the PPP Center. The pipeline was recently updated to include 13 new projects, estimated to cost at least P38 billion, and delisted four projects. With this, the pipeline is shorter than the 137 projects initially included which amounted to P3.1 trillion. The four delisted projects were the Cavite Tagaytay Batangas Expressway Project; Unsolicited Proposal for EDSA Bus Rapid Transit (BRT); Unsolicited Proposal for the Development, Operations, and Management of the Davao International Airport; and Advance Passenger Processing and Passenger Name Record (APP-PNR). “The change in the number of projects in the pipeline is due to the addition in the list of unsolicited proposals endorsed by the PPP Center to Implementing Agencies [IA] for their decision to proceed with detailed evaluation or rejection of the same; addition of projects included in the Lists of PPP Projects submitted by IAs to the PPP Center; [and] delisting of PPP projects,” the PPP Center said in a document it recently shared with reporters. In terms of the latest addition to the PPP pipeline, the largest projects were Pampanga Bulk Water Supply Project and Civil Aviation and Immigration Security Services, which were estimated to cost P18.70 billion and P16.89 billion, respectively. The Pampanga Bulk Water Supply Project is an unsolicited proposal that is currently under evaluation by the IA. It will be undertaken by the provincial government of Pampanga and Manila Water Philippine Ventures Inc. The Civil Aviation and Immigration Security Services, meanwhile, is also an unsolicited proposal that has been endorsed to an IA for their decision to proceed with the detailed evaluation. It will be undertaken by the Bureau of Immigration and Securiport LLC. Of the 13 projects added to the list, two still do not have cost estimates as they are under conceptualization. These are the establishment of Bulk Water Facility for La Union and the La Union Integrated Terminal Exchange. The PPP Center also said there are no cost estimates yet for three projects due to the need for verification. These are the establishment of Dialysis Center in all Provincial Government of La Union (PGLU) District Hospitals (DH) and La Union Medical Center (LUMC), and the Bus Rapid Transit System in Cavite. Earlier, the PPP Center said it expects at least 20 solicited projects to advance to the Investment Coordination Committee (ICC) and/or the National Economic and Development Authority (Neda) for approval this year. Initially, PPP Center Undersecretary and Executive Director Ma. Cynthia C. Hernandez said only 15 projects are expected to be approved this year. Hernandez said there could be more projects, depending on the number of unsolicited projects that could be submitted for ICC or Neda Board evaluation and approval. Right after the passage of the PPP Code, the PPP Center has already processed 20 unsolicited projects.

  • By Jean Mangaluz, May 30, 2024;  Inquirer.net https://business.inquirer.net/461567/philippines-ranks-first-in-asia-for-budget-transparency MANILA, Philippines — The Philippines ranked first in Asia for transparency in the 2023 Open Budget Survey (OBS). The OBS is a survey done by the international non-government organization International Budget Partnership, which is based in the United States. The survey measures transparency, budget oversight, and public participation. According to the OBS Survey, the Philippines got a 75 out of 100 for transparency. A score of 61 and above indicates that a country is releasing enough material to the public to keep it informed. “The Philippines climbed seven points in the OBS for transparency, garnering an open budget index score of 75 out of 100. This is a marked improvement from the score of 68 in 2021, beating the government’s target score of 71 under the Philippine Development Plan 2023 – 2028,” said the Department of Budget and Management (DBM) in a statement on Thursday. Globally, the Philippines ranked 15th out of 125 countries for budget transparency. The Philippines also garnered an 83 out of 100 for budget oversight, with both legislative and audit oversight being deemed adequate. The country ranked sixth in the world for budget oversight. Lastly, the Philippines only got a score of 33 out of 100 for public participation, meaning that the OBS found that there were few opportunities for the public to engage in “meaningful participation in the different stages of the budget process.” “This is very welcome news, especially as we are also celebrating this year’s Open Gov Week and solid proof that the administration of President Ferdinand R. Marcos Jr. works for and with the people to promote good governance in the country. Rest assured that the DBM will continue its best practices in ensuring a transparent, participatory, and accountable People’s Budget,” Secretary Amenah F. Pangandaman said in a statement.

  • By: Chino S. Leyco, May 28. 2024; Manila Bulletin https://mb.com.ph/2024/5/28/dof-expects-two-year-process-for-tax-system-digitalization Finance Secretary Ralph G. Recto admitted the daunting challenge of digitizing the government’s tax system, prompting the need to explore non-tax revenue sources for additional funding. Recto told Manila Bulletin on Tuesday, May 28, that the Marcos administration’s digitalization initiatives to improve tax administration could take about two years to reach their full effectiveness. At the Philippine Economic Briefing last Monday, Recto cited the importance of improving tax administration in the e-commerce sector through digitalization, but “admittedly, [it] will take some time.” “In the meantime, we have strategically tapped into non-tax revenue streams to generate additional funds without imposing new or increased taxes on our people,” Recto said. The United Nations E-Government Survey revealed that the Philippines falls behind its regional peers in key areas of digital development such as digital transformation and trade, digital government, and digital security. In terms of digital government, the country was ranked 89th out of 193 countries, trailing behind Singapore (12), Malaysia (53), Thailand (55), Indonesia (77), and Vietnam (86). Despite the substantial increase in digital transactions in the Philippines, the bill seeking to levy a 12 percent value-added tax (VAT) on digital services provided by both resident and nonresident digital service providers has not yet been enacted into law. To mitigate the impact of tax leaks, the Department of Finance has decided to increase the dividend payments of state-owned firms from a minimum of 50 percent to 75 percent. As of the end of April, government non-tax revenues have totaled P188.8 billion, a 49 percent increase compared to the same period last year. This growth is primarily driven by higher dividend remittances from government-owned and controlled corporations amounting to P88.6 billion as of May. Furthermore, the government is looking to leverage non-recurring revenues through the privatization of state-owned assets. Recto wants to generate P100 billion from the sale of government assets currently in the pipeline. One of the proposals put forth by the finance chief involves selling the 600-hectare land currently occupied by the Ninoy Aquino International Airport (NAIA) in Pasay City.

  • By Louella Desiderio, May 8, 2024; Philippine Star https://www.philstar.com/business/2024/05/08/2353350/eo-59-accelerate-infrastructure-development-neda MANILA, Philippines — An executive order (EO) streamlining the permitting process for the government’s priority infrastructure projects will support the push for infrastructure development by expediting project implementation, according to the National Economic and Development Authority. In a statement, NEDA Secretary Arsenio Balisacan said that EO 59 signed last April 30 would support the goals of the country’s overall development plan or the Philippine Development Plan 2023 to 2028, through the upgrade of the country’s infrastructure. Through the streamlined processing of the government’s priority or infrastructure flagship projects (IFPs), he said “we are making it easier for implementing agencies and more attractive for our partners in the private sector to execute transformative infrastructure projects that would spur job creation for our people and enable us to sustain our economy’s rapid expansion.” EO 59 simplifies the requirements for projects included in the IFP list approved by the NEDA Board. At present, there are 185 projects valued at P9.14 trillion under the IFP list. As part of the EO, all national government agencies and local government units (LGUs) need to review their Citizen’s Charters to remove redundant and burdensome procedures. “The primary goal of this EO is to minimize, if not eliminate, delays in the implementation of IFPs. We are in a hurry to catch up with our neighbors in the region so the government must enable – not hinder – the timely completion of these projects,” Balisacan said. The EO also directs national government agencies and LGUs to adopt an online system and/or electronic submission and acceptance of applications, as well as issuance of licenses and permits for the IFPs. To promote seamless data sharing, government agencies are mandated to automate and computerize their databases. LGUs are encouraged to coordinate with the Department of Information and Communications Technology to adopt the electronic system maintained by the latter to ensure interoperability. Also part of the EO is the establishment of one-stop shops for IFPs. With the EO in place, Balisacan said “the Marcos administration signifies its commitment to aggressively advance infrastructure development as a key driver to our social and economic transformation.”

  • By Louella Desiderio, May 5, 2024; The Philippine Star https://www.philstar.com/business/2024/05/05/2352590/neda-pushes-eo-strengthen-rdcs-role#:~:text=During%20the%20meeting%2C%20the%20NEDA,project%20implementation%20and%20addressing%20bottlenecks. Manila, Philippines — The National Economic and Development Authority (NEDA) is pushing for the issuance of an executive order (EO) aimed at strengthening the role of Regional Development Councils (RDCs) as part of efforts to achieve inclusive growth and development. In a statement, the NEDA said a meeting was held on April 30, with RDC chairpersons and President Marcos to discuss various regional development initiatives aligned with the strategies under the country’s overall development blueprint or the Philippine Development Plan 2023 to 2028 and Regional Development Plans. During the meeting, the NEDA presented the proposal for an EO aimed at enabling the RDCs to play a greater role in formulating regional development plans and investment programs, as well as in reviewing agency budgets, monitoring project implementation and addressing bottlenecks. Serving as the counterpart of the NEDA Board at the sub-national level, the RDC is responsible for coordinating and setting the direction of economic and social development efforts in the region. “RDCs play a vital role in steering socioeconomic development at the regional and local level by bridging the gap between national agencies and local government units,” NEDA Secretary Arsenio Balisacan said. The NEDA said the proposal would build upon the foundation laid by EO 325 issued in 1996 by addressing weaknesses including the RDCs’ limited presence in the local government units (LGUs) and role in terms of funding for priority regional programs and projects. It will also address the lack of budget for RDCs’ monitoring and capacity-building activities. “With these amendments, the RDCs will be given the mandate to identify priority inter-LGU and special development projects and further pursue capacity-building activities at the local level,” Balisacan said. NEDA expects the EO to complement its ongoing efforts to promote regional development including the Regional-National Investment Programming dialogues, capacity-building activities for monitoring and evaluation, conduct of studies for effective implementation of the full devolution initiative, as well as the approval of Infrastructure Flagship Projects and public-private partnership projects. RDC chairpersons also presented their proposed priority programs and projects during the meeting. “With even brighter economic prospects on our country’s horizon, it is indeed high time that we strengthen the mandate of our RDCs to make them more effective at serving as the highest policymaking and coordinating body in our regions. They will also play a crucial role as we approach the operationalization of the full devolution process,” Balisacan said.

  • By Priam Nepomuceno, May 3, 2024; Philippine News Agency https://www.pna.gov.ph/articles/1223951 SAN NARCISO, Zambales – The Philippines will face a greater risk of cyberattacks from foreign cyberthreat groups, especially in the coming elections, a threat assessment presentation said. “Cyberattacks are anticipated in the mid-term 2025 and 2028 national elections” and could disrupt the peaceful and orderly conduct of the polls, the presentation showed during the National Security Cluster Communications of the “Bagong Pilipinas” Media Engagement and Workshop held at the Philippine Merchant Marine Academy (PMMA) here Thursday. The threat assessment also warned that the “misuse of artificial intelligence (AI) could become a destructive tool in (the) cognitive domain (and) have a divisive effect in the public and social order during (the) PHL election period.” Without directly identifying the source of the cyberthreats, the threat assessment noted that the challenge to the country’s “cybersecurity defense domain” will come from “foreign adversaries.” These cyberattacks are considered “hybrid warfare” and will target information and communications technology networks of the national government and private entities, it said. The threat assessment comes on the heels of recent cyberattacks on several government websites, purportedly from Chinese hackers. In February, the Department of Information and Communications Technology (DICT) said it foiled a cyberattack that targeted various government email addresses, including that of the Philippine Coast Guard and even the private website of President Ferdinand R. Marcos Jr. It said other targets were government Google Workspaces, specifically the domain administrators of the Cabinet Secretary, the Department of Justice, the Congressional Policy and Budget Research Department of the Congress, the National Coast Watch System, and the DICT. Also in January, the DICT was able to thwart the attempted hacking of the Overseas Workers Welfare Administration’s web applications. (PNA)

  • By BusinessWorld Staff, May 1, 2024; BusinessWorld https://www.bworldonline.com/infographics/2024/05/01/592037/philippines-lags-in-national-technological-strength-list-2/ The Philippines fell by two notches to 63rd out of 65 countries in the 2023 edition of most technologically advanced countries ranking by international magazine Global Finance. The report ranks a country’s technological strength across four metrics: internet users as a percentage of a country’s population; LTE users as a percentage of the population; IMD World Competitiveness Center’s Digital Competitiveness Score; and share of a country’s research and development spending to its economic output. Among 11 East and Southeast Asian countries included in the report, the Philippines ranked the lowest with a composite score of -5.77.

  • By Elizabeth Marcelo, May 1, 2024; Philippine Star https://www.philstar.com/headlines/2024/05/01/2351693/csc-strengthens-government-workers-right-organize MANILA, Philippines — The Civil Service Commission (CSC) has strengthened the policy on government workers’ right to organize as it launched the consolidated rules and regulations on conciliation services, the effectivity of collective negotiation agreements and recognition of national employees’ organizations. “Good employee relations are vital in advancing employee welfare and participatory governance,” CSC Chairman Karlo Nograles said on Monday during the ceremonial signing of the 2024 Rules and Regulations Governing the Exercise of the Right of Government Employees to Organize. The event was held at the Justice Hall of the Department of Justice building in Manila. Among the key features of the 2024 Rules and Regulations is the inclusion of the latest policies on the administration of a public sector employee organization, establishment of employees’ organization transition group, merger and consolidation, as well as change of name and modes of dissolution of employees’ organizations, the CSC said. It also includes the latest policies on the determination of the sole and exclusive negotiating agent, dispute resolution and automatic accreditation of the winner in a certification election, the CSC noted. The 2024 Rules and Regulations is an integration of promulgated and published policy resolutions approved by the Public Sector Labor Management Council (PSLMC) over the years, following the latest amendment in 2004, the CSC said. Nograles is chair of the PSLMC. “We recognize that the new rules and regulations may not be absolutely perfect, considering the dynamic environment that they will operate within. However, this acknowledgment should not deter us from actively engaging in shaping the trajectory of employee relations in the public sector,” he maintained. The PSLMC shall have the authority to promulgate the necessary rules and regulations to implement the exercise of the right to self-organization in the public sector, according to Executive Order No. 180 signed on June 1, 1987. PSLMC vice chair and Labor Secretary Bienvenido Laguesma, Justice Undersecretary Fredderick Vida, Finance Undersecretary Niño Raymond Alvina and Budget Undersecretary Leo Angelo Larcia attended the event.

  • By Cristina Chi, April 30, 2024; Philippine Star https://qa.philstar.com/headlines/2024/04/30/2351583/dict-most-govt-agencies-failed-respond-cybersecurity-warnings MANILA, Philippines — Only around one out of ten government offices that were recently notified by the Department of Information and Communications Technology (DICT) of a vulnerability in their cyber systems took action to protect themselves, Undersecretary Jeffrey Ian Day said on Tuesday. Just 55 out of 388 government agencies which were contacted about vulnerabilities in their public assets (data or devices part of a computer system) responded to the DICT, Dy told a House panel probing the series of hacking incidents on government websites. These agencies include national government agencies and sub-agencies and smaller government offices housed under different agencies. “This is very low compared to what we expect,” Dy said. Dy said that the DICT’s network scanning initiative called Project SONAR has detected over 30,000 vulnerabilities after scanning the assets of over 800 agencies since being launched in December 2023. Vulnerabilities do not refer to actual hacking attempts and instead point to certain parts of a government’s cybersecurity infrastructure that are at risk of being breached. The DICT official explained that Project SONAR scans the systems of agencies without permission and informs them the next day of the extent of their vulnerabilities. “So that if they need to procure something to defend themselves, that can happen,” Dy said. Most agencies notified of having vulnerabilities did not respond to the DICT. Dy said that there needs to be assigned focal persons who will respond to the DICT when informed about weaknesses in their cybersystems. The DICT official also said that it has suggested for the Department of Budget and Management to include agencies’ responses as part of their scorecard — a system that measures agencies’ quality of good governance. Dy said Project SONAR was created as a response to the multiple government hacking attempts that took place the year before. In February, the DICT bared that its investigation found that cyberattacks targeting multiple government servers were traced to IP addresses based in China. A breach into the PhilHealth database in 2023 allowed hackers to steal millions of personal data and confidential memorandum, which they used to try to goad the government into paying a $300,000 ransom. Despite promises by authorities to ramp up cybersecurity, according to a 2023 report by the Asia Pacific Foundation of Canada, the Philippines remains highly vulnerable to cyberattacks due to “widespread internet usage, low cybersecurity awareness, and underdeveloped cybersecurity infrastructure.”

  • By BusinessWorld Staff, April 30, 2024; BusinessWorld https://www.bworldonline.com/infographics/2024/04/30/591730/philippines-moves-up-in-state-and-governance-indexes/#google_vignette The Philippines improved in the 2024 edition of the biennial Bertelsmann Stiftung Transformation Index (BTI). The country inched up by a notch to 59th out of 137 countries in the Status Index, while it rose four spots to 83rd place in the Governance Index. The index evaluates a country’s progress towards democracy and market economy, as well as the quality of governance on a scale of 1-10, with 10 being the highest.

  • By Benjamin Pulta, April 24, 2024; Philippine News Agency https://www.pna.gov.ph/articles/1223346 MANILA – The Department of Justice (DOJ) on Wednesday assured that the government remains resolute in reforming law enforcement in the country to protect and promote human rights under the Bagong Pilipinas of the Marcos administration. “We guarantee that reforms are in place to change the mindset and attitude of erring law enforcers and make them responsible for their actions. We are taking all the necessary steps to strengthen the criminal justice system and hold to account the perpetrators of these violations,” Justice Secretary Jesus Crispin Remulla said in a statement. Remulla issued the statement following a report by the United States State Department that human rights abuses, including extra judicial killings (EJKs), continue to be a problem for the Philippines in 2023. He added the DOJ always remind law enforcement agencies, and those in charge of the administration of justice that “there are no shortcuts in enforcing peace and order.” “It is of primordial consideration that we, as responsible State enforcers, uphold the rule of law and resolve to protect and promote human rights. The DOJ, as the principal law agency and legal counsel of the government, remains deeply committed to the administration’s thrust towards a Bagong Pilipinas – one that is safe, peaceful, and just,” Remulla said. In its 2023 Country Reports on Human Rights Practices, the US State Department noted that while human rights issues continue to be a problem in the Philippines, the number of incidents of arbitrary and extrajudicial killings and of some other abuses by government agents decreased. It also noted that the administration of President Ferdinand R. Marcos Jr. continued the antidrug campaign – which began under the Duterte administration – “albeit with a focus on treatment and rehabilitation, due process, and rule of law-based investigations.” In its latest report on the Generalized Scheme of Preferences (GSP) in November last year, the European Union (EU) has cited the willingness of the Marcos administration “to engage the international community on the issue of human rights,” having actively participated in multiple mechanisms of the UN Human Rights Council (UNHRC). It noted “several positive steps” taken by the government, including its “new focus” on prevention and rehabilitation in the campaign against drug and the visits of several UN Special Rapporteurs. In February this year, visiting United Nations Special Rapporteur Irene Khan took note of the DOJ’s measures to strengthen the investigation and prosecution of violence against journalists and human rights defenders, and asked the government to further strengthen the agency’s Administrative Order (AO) 35. AO 35 is a government mechanism that brings together various agencies of the government against impunity. Last March 14, the DOJ and the Commission on Human Rights (CHR) signed a memorandum of agreement (MOA) aimed at facilitating assistance to victims of human rights abuses, summary executions, torture, and enforced disappearances, among others.

  • By Beatriz Marie D. Cruz, April 24, 2024; BusinessWorld https://www.bworldonline.com/top-stories/2024/04/24/590373/inflation-may-ease-in-2nd-half-neda/ HEADLINE INFLATION may start easing in the second half of the year as pressure on food prices subsides after the El Niño weather event ends, the National Economic and Development Authority (NEDA) chief said. “In the second half of this year, we expect the pressure from food prices to diminish, because a big part of that food inflation was imported in the sense that food prices, particularly for staple, have been rising in the world mar-ket,” NEDA Secretary Arsenio M. Balisacan told reporters on the sidelines of a forum on Monday afternoon. Inflation rose for a second straight month in March to 3.7% amid rising food prices. Food inflation accelerated to 5.7%, its fastest pace in four months, mainly driven by rice. Rice inflation surged to 24.4% in March, the highest since the 24.6% print in February 2009. “But for rice, (pressure) is expected to decline, (as prices) reached the peak and will start falling after June as the El Niño phenomenon is waning,” Mr. Balisacan said. The El Niño weather phenomenon is expected to persist until May, but the Philippines may continue to feel its impact until August, the Department of Science and Technology said earlier. Mr. Balisacan said he is hoping that April inflation would fall within the Bangko Sentral ng Pilipinas’ (BSP) 2-4% target band, although oil prices pose a risk. He noted April inflation will likely be close to the 3.7% print recorded in March. “[The] 2-4% is still a fighting target. Of course, we are watching closely the developments in the Middle East. If the oil prices would be affected by the development, there would be some pressure for us,” Mr. Balisacan said, refer-ring to the conflict between Israel and Iran. The local statistics agency will release April inflation data on May 7. Mr. Balisacan said that economic growth in the first half may be affected if inflation continues to breach the target. “[It’s] a challenge because domestic consumption, particularly home consumption and investment, are very sensitive to inflation and interest rates,” he said. Earlier this month, the Development Budget Coordination Committee (DBCC) revised its gross domestic product (GDP) growth target range to 6-7% this year from 6.5-7.5% previously amid geopolitical tensions, price upticks, and trade restrictions. The local statistics agency is set to release first-quarter GDP data on May 9. “With food prices starting to come down, that should be good for growth. But of course, if the energy prices continue to rise, then it could affect logistics, distribution, and it could impact food prices too. But we hope that it will not be serious,” Mr. Balisacan said. Oxford Economics economist Makoto Tsuchiya said he expects inflation to quicken to 3.9% in April due to base effects. He also noted that sequential momentum was largely flat this month. “Although rice prices remain elevated, prices for other agricultural products including vegetables and fruits are starting to decline, which should help ease inflationary pressures in the coming months,” he said in an e-mail. “Higher oil prices due to escalation of the conflicts in the Middle East is an emerging risk, but so far the impact remains limited.” Monetary Board Member V. Bruce J. Tolentino said the government should keep a close eye on global developments that could impact commodity prices and stoke inflation. “The elections in India are ongoing, and if Mr. [Narendra] Modi wins, he will focus on his domestic priorities of ensuring that food prices are low in India. That means the export ban [on non-basmati rice] may continue, which will worsen inflation,” he said in a Viber chat. Last year, India imposed export curbs on non-basmati rice and other commodities to address rising domestic prices. The supply shortage drove global prices higher, affecting the Philippines which is one of the biggest importers of rice. Mr. Tolentino noted that the ongoing Russia-Ukraine war may cause an uptick in fertilizer prices and constrain wheat supply. “It is crucial that the government maintain its efforts to invest in productivity-enhancing measures. These have been paying off in the record rice harvests attained over the past 2-3 years,” Mr. Tolentino said.

  • By Reine Juvierre S. Alberto, April 22, 2024; Business Mirror https://businessmirror.com.ph/2024/04/22/adb-to-help-digitalization-human-ware-disaster-prep/#:~:text=THE%20Asian%20Development%20Bank%20(ADB,(CPS)%20for%20the%20Philippines. The Asian Development Bank (ADB) has committed to supporting the Philippines in enhancing digitalization, human capital and infrastructure, and disaster preparedness through a new Country Partnership Strategy (CPS) for the Philippines. In a statement on Sunday, the Department of Finance (DOF) said Finance Secretary Ralph G. Recto secured commitments from ADB President Masatsugu Asakawa during a high-level meeting with the ADB and the country’s economic managers on April 17. The key strategic priorities in these areas will be reflected and aligned in ADB’s upcoming CPS, which also encapsulates the development priorities of the current administration, the DOF said. According to the ADB, the CPS is the multilateral lending bank’s platform for designing operations to deliver development results at the country level. Recto said the slow adaptation to digitalization amidst the rise of e-commerce would result in an “immense potential revenue leakage” since a fourth of Filipino consumers have shifted to e-commerce. For its part, the ADB has committed to collaborate closely with the Philippine government on a proposed Digital Transformation Project for the Bureau of Internal Revenue (BIR). This is in line with the Bank’s long-standing support for Philippine tax reform measures and domestic resource mobilization efforts, the DOF added. Recto also urged the ADB to boost assistance for human capital development, particularly in education and nutrition programs, to uplift the quality of life of every Filipino. Banking on the recently enacted Public-Private Partnership (PPP) Code, Recto encouraged the ADB to help the country attract more investors for its flagship infrastructure projects to boost competitiveness, particularly in power and physical and digital connectivity. The Finance chief also called for increased cooperation in utilizing renewable energy resources to hasten the Philippines’ switch to sustainable energy. Lastly, the DOF sought the Bank’s support for Manila’s proposal to host the Loss and Damage Fund (LDF)—a global climate fund established in November  2023 under the United Nations Framework Conference on Climate Change (UNFCCC). The ADB is the Philippines’s second-largest official development assistance (ODA) partner with a total ODA commitment of USD11.40 billion, as of December 31, 2023. Around USD4.48 billion in ODA loan financing has been secured from the ADB for priority programs and projects for business and employment, agriculture, inclusive finance, domestic resource mobilization, and infrastructure development since the start of Marcos Jr.’s administration. The meeting was joined by ADB’s Vice President of Southeast Asia Operations Scott Morris; General Counsel Tom Clark; Director General for Strategy, Policy and Partnerships Department Tomo Kimura; and Chief Advisor to the President Haruto Takimura. Recto was accompanied by National Economic and Development Authority (Neda) Secretary Arsenio M. Balisacan and Department of Budget and Management (DBM) Secretary Amenah F. Pangandaman.

  • By Chino S. Leyco, April 16, 2024; Manila Bulletin https://mb.com.ph/2024/4/16/four-lg-us-join-global-anti-corruption-alliance Four local government units (LGUs) from the Philippines have been accepted into the global partnership that focuses on promoting transparency, fighting corruption, and strengthening governance. In a statement on Tuesday, April 16, Budget Secretary Amenah F. Pangandaman said that Tagbilaran (Bohol), Larena (Siquijor), Quezon City, and Baguio City are now members of the Open Government Partnership (OGP). Pangandaman, who also serves as the chairman of OGP-Philippines, noted that these four LGUs have now joined the initiative, following the acceptance of South Cotabato and Borongan into the group in 2018 and 2020, respectively. Among the benefits of joining the OGP is the impetus it brings to strengthen civil society participation in local planning and development to further improve LGU delivery of basic services. “I am happy that OGP is now present in NCR [national capital region], Luzon, Visayas and Mindanao! This is a big boost to our campaign for open governance,” Pangandaman said. “I look forward to working with you in making our government more open, transparent and accountable,” she added. The Philippines is one of the eight founding countries of the OGP along with Brazil, Indonesia, Mexico, Norway, South Africa, the United Kingdom and the United States. Aside from national governments, since 2016, the OGP Local program has opened membership to local governments for initiatives promoting the values of OGP that are even closer to the people. Pangandaman also initiated the institutionalization of OGP last year. Open government in the Philippines has been gaining momentum with the backing of no less than our President Ferdinand R Marcos Jr. who issued the landmark Executive Order No. 31, s. 2023 institutionalizing OGP,” Pangandaman explained. “With this EO, we are able to provide a solid policy and legal framework to ensure that the open government principles are embedded in programs and policies in all branches of government.” the budget chief concluded.

  • April 17, 2024 5:57 pm

    IMF hikes growth forecast for PHL

    By Luisa Maria Jacinta C. Jocson, April 17, 2024; BusinessWorld https://www.bworldonline.com/top-stories/2024/04/17/588624/imf-hikes-growth-forecast-for-phl/ THE INTERNATIONAL Monetary Fund (IMF) raised its gross domestic product (GDP) growth forecast for the Philippines for this year and 2025.  In its latest World Economic Outlook (WEO), the IMF upwardly revised its Philippine growth forecast to 6.2% for this year from 6% previously. This is within the government’s revised 6-7% growth target. “Real GDP growth for 2024 was revised slightly to 6.2% from the January WEO forecast of 6%, reflecting carryover from a better-than-expected outturn in the last quarter of 2023,” IMF Representative to the Philippines Ragnar Gudmundsson said in an e-mail. The Philippine economy grew by 5.5% in both the fourth quarter and full-year 2023. Based on IMF projections for emerging and developing Asia, the Philippines is expected to post the second-fastest GDP growth this year, just behind India (6.8%). It is ahead of Vietnam (5.8%), Indonesia (5%), China (4.6%), Malaysia (4.4%) and Thailand (2.7%). “Growth in emerging and developing Asia is expected to fall from an estimated 5.6% in 2023 to 5.2% in 2024 and 4.9% in 2025, a slight upward revision compared with the January 2024 WEO Update,” according to the report. The multilateral lender sees five Association of Southeast Asian Nations member economies (ASEAN-5) to expand by an average of 4.5% this year, slightly lower than the 4.7% forecast it gave previously.  The ASEAN-5, composed of the Philippines, Singapore, Malaysia, Vietnam, and Indonesia, is forecast to grow by 4.6% next year, slightly higher than its 4.4% projection in January. For 2025, the IMF sees Philippine GDP growing by 6.2%, a tad higher than its previous forecast of 6.1% but below the government’s 6.5-7.5% target. Mr. Gudmundsson said the forecast for 2025 is supported by expectations of an “acceleration in domestic demand and investment.” Next year, the Philippines has the second-fastest projected growth in the region, just behind India and Vietnam (both at 6.5%). “Over the medium term, structural reforms to close infrastructure and education gaps, attract greater foreign direct investments (FDIs), and harness benefits from the digital economy should help realize a (Philippine) growth potential of about 6-6.5%,” Mr. Gudmundsson said. “These reforms should be complemented by strengthening existing social protection schemes and addressing climate change through a more integrated strategy that includes a carbon pricing scheme,” he added. Economic managers are targeting 6.5-8% growth from 2026 to 2028. Meanwhile, the IMF sees global growth settling at 3.2% for both 2024 and 2025. It raised its 2024 forecast by 0.1 percentage point but kept its 2025 projection unchanged from January. “Nevertheless, the projection for global growth in 2024 and 2025 is below the historical (2000-2019) annual average of 3.8%, reflecting restrictive monetary policies and withdrawal of fiscal support, as well as low underlying productivity growth,” the IMF said. It said that emerging market and developing economies are expected to “experience stable growth through 2024 and 2025, with regional differences.”

  • By Beatriz Marie D. Cruz, April 9, 2024; BusinessWorld https://www.bworldonline.com/top-stories/2024/04/09/586852/philippines-likely-to-post-fastest-gdp-growth-among-asean3-countries-this-year-2025/ THE PHILIPPINES is expected to grow faster than Association of Southeast Asian Nations (ASEAN) member countries, China, Japan, South Korea and Hong Kong this year and in 2025, but elevated inflation remains a key risk to the outlook, a regional think tank said on Monday. In its Regional Economic Outlook quarterly update, the ASEAN+3 Macroeconomic Research Office (AMRO) kept its 6.3% gross domestic product (GDP) growth outlook for the Philippines, unchanged from the January report. This is faster than the revised 5.5% GDP growth in 2023 and within the government’s revised 6-7% target for this year. AMRO also sees the Philippines expanding by 6.5% in 2025, also within the government’s 6.5-7.5% goal. “I think 6.3% is very strong growth (for this year), among the highest in the region,” AMRO Chief Economist Hoe Ee Khor said in a virtual briefing. “The Philippines will also benefit from the upswing, you know, in terms of external demand… Manufacturing sector will benefit from that and the recovery in tourism.” For this year, AMRO’s growth projection for the Philippines is ahead of Cambodia (6.2%), Vietnam (6%), Indonesia (5.2%), Malaysia (5%), China (4.4%) Laos (4.7%), Hong Kong (3.5%), Myanmar (3.2%), Thailand (2.9%),  Brunei Darussalam (2.7%), Singapore (2.6%), South Korea (2.3%) and Japan (1.1%). For 2025, the Philippines and Vietnam are expected to be the growth leaders in the region. “The Philippine economic outlook is clouded by various risk factors and challenges. In the near term, growth prospects are relatively robust, but high inflation is a risk, especially as a result of local supply shocks in the food sector and the impacts of geopolitical conflicts on international energy prices. These will exert upward pressure on inflation which can dampen domestic demand,” AMRO said in the report released on Monday. Philippine inflation will be among the fastest in ASEAN+3 this year at 3.6%, alongside Vietnam, according to AMRO estimates.  Only Myanmar (16.1%) and Laos (14.3%) will likely post faster inflation.  For 2025, the think tank sees Philippine inflation easing to 2.9%. AMRO’s inflation forecasts for the Philippines are lower than the Bangko Sentral ng Pilipinas’ (BSP) 3.8% and 3.2% estimates for this year and next year. “I think there’s a slight risk that this year, because of the synchronized upswing in the global economy, that inflationary pressure may actually be on the upside rather than on the downside, so it may slow down the moderation in the growth rate,” Mr. Khor said. He noted that upside risks to inflation could delay rate cuts by the BSP, which on Monday kept policy rates at a near 17-year high of 6.5%. “(Inflation) has not come down low enough for the [Philippine] central bank to feel comfortable to ease the rate… Our view is that monetary policy also needs to remain fairly tight until inflation has come off and reach its (2-4%) inflation target,” he added. AMRO said the Philippines also faces risks from an economic slowdown in major trading partners, volatilities in financial markets and tighter financial conditions. “Looking at the longer term, the growth potential will largely hinge on the economic scarring effects of the pandemic, the pace of infrastructure development and heightened geopolitical tensions between China and the United States,” it said. The Philippines also faces rising social and economic costs from climate disasters. AMRO said the country needs to craft a comprehensive strategy for “resilient, sustainable and inclusive long-term growth.” ‘ENGINE OF GROWTH’ The ASEAN+3 region is seen to expand by 4.5% this year and by 4.2% in 2025, according to the AMRO report. The ASEAN region alone is projected to grow by 4.8% this year, higher than AMRO’s 4.5% projection in January. For 2025, the region is expected to grow by 4.9%. Inflation in ASEAN+3, excluding Laos and Myanmar, is forecast to slow to 2.5% this year, and to 2.3% in 2025. “Domestic demand is likely to remain resilient, underpinned by recovering investment and firm consumer spending,” AMRO said. “Export recovery, especially in semiconductors, and tourism should provide an additional lift to growth.” The think tank said the ASEAN+3 region will continue to be the “engine of growth” for the world economy, as it is projected to contribute as much as 45% of global growth through 2030. However, AMRO warned the near-term outlook for the region faces risks from a sudden spike in global commodity prices due to an escalation in geopolitical tensions or weather shocks. “Other key risks include slower-than-expected growth in China, adverse spillovers from the US presidential election campaign and possible recession in major advanced economies outside the region,” it added. AMRO also noted that the outlook gives ASEAN+3 economies a chance to rebuild policy space that was lost during the pandemic. “Going forward, the priority for fiscal policy should be directed mainly at restoring buffers while providing targeted support for the economy. Meanwhile, it is essential for monetary policy to be focused on anchoring inflation expectations given the continued upside risks to inflation,” it said.

  • By Pia Lee-Brago, April 8, 2024; Philippine Star https://www.philstar.com/headlines/2024/04/08/2346060/philippines-reaffirms-human-rights-resolve MANILA, Philippines — The Philippines has reaffirmed its resolve to continue efforts to strengthen domestic human rights mechanisms. Technical assistance and capacity building have a high potential to catalyze transformative change that advances rights causes, Ambassador Carlos Sorreta said on April 3 at the 55th Session of the Human Rights Council’s general debate on technical assistance and capacity building. Sorreta renewed the Philippine government’s resolve, building on the gains of the UN Joint Program (UNJP) on human rights in the Philippines. “It is so when done right, that is, when states are given the driver’s seat in capacity-building initiatives and programs are responsive to national priorities and needs. We say this with the benefit of insights gained from our three-year joint program with the UN on human rights (or the UNJP),” he said. In 2021, the Philippines and the UN launched the joint program that facilitated technical cooperation and capacity building in support of national initiatives and institutional frameworks in six areas: domestic investigation and accountability mechanisms, data gathering on alleged police violations, national mechanism for monitoring and follow-up, civic space and engagement with civil society, drug control and counterterrorism. The UNJP will conclude in July 2024, accomplishing its objectives of bolstering domestic human rights policies, programs and institutions. “As the UNJP draws to an end, we take ownership, with re-invigorated domestic institutions to better address complex governance issues, we take ownership with human rights, justice and accountability principles well embedded in programs and strategies and the mindset of government frontliners,” the Philippines’ envoy to the UN in Geneva said. The UNJP was managed through a multi-stakeholder steering committee, led by the Department of Justice and the UN resident coordinator, bringing together various agencies, the Commission on Human Rights, UN agencies, civil society organizations and representatives of donor countries. These countries provided funding to the UNJP Multi-Partner Trust Fund under the stewardship of the UN country team: Australia, Germany, Ireland, the Netherlands, Norway, the Republic of Korea, Switzerland, the United Kingdom, the United States and the European Union. The Philippine government provided $200,000 in addition to the budgetary resources allocated by relevant national agencies for specific projects under the UNJP. “We will establish a human rights coordinating council to sustain and broaden what we had achieved under the UNJP. As we forge ahead, we will continue to work with our international partners bilaterally, as we had done even before the UNJP, in order to maximize resources and ensure efficiency,” Sorreta said.

  • By Ian Laqui, April 4, 2024; Philippine Star https://www.philstar.com/business/2024/04/04/2345275/govt-cuts-growth-target-6-7-neda MANILA, Philippines — The country’s gross domestic product (GDP) growth target for 2024 has been adjusted to a range of 6% to 7%, down from the previous range of 6.5% to 7.5%, National Economic Development Authority (NEDA) chief Arsenio Balisacan said. In a press briefing with the members of the press on Thursday, Balisacan said that the country’s economic growth target had been revised following a careful consideration of factors such as the global economic slowdown, rising oil prices and inflation trends. Balisacan also said that the growth target for 2025 was adjusted to a range of 6.5% to 7.5%, down from the initial range of 6.5% to 8.0%. Meanwhile, the growth projections for 2026 to 2028, ranging from 6.5% to 8.0%, remained unchanged. Last year, the Development Budget Coordination Committee also revised the 2024 GDP target to a range of 6.5% to 7.5%, from the previous 6.5% to 8%. At the close of 2023, the country’s GDP reached 5.6%, falling below the government’s targeted range. This was influenced by elevated interest rates due to high inflation, which restrained consumer spending. On the other hand, the country’s inflation rate has ballooned to 3.4% as the cost of food and non-alcoholic beverages surged. The inflation report for the month of March will be reported by the Philippine Statistics Authority on April 5.

  • By Kyle Aristophere T. Atienza, April 3, 2024; BusinessWorld https://www.bworldonline.com/top-stories/2024/04/03/585331/panel-to-address-right-of-way-issues-hounding-railway-projects/ THE MARCOS administration has created an interagency panel to fast-track the acquisition of land for national railway projects, as Philippine infrastructure plans continue to be hounded by right-of-way (RoW) issues. Under Administrative Order No. 19, which was signed on March 25, the Inter-Agency Committee for Right-of-Way Activities for National Railway Projects will “study and devise an efficient and collaborative mechanism to streamline the process of land acquisition necessary for the implementation of all railway projects.” The panel will be chaired by the secretary of the Department of Transportation (DoTr) and co-chaired by the secretary of the Department of Human Settlements and Urban Development. Members of the committee include the departments of Interior and Local Government, Social Welfare, Environment, Finance, Budget, and Justice, as well as the Office of the Solicitor General. The Philippine National Railway (PNR), the committee’s secretariat, is directed to provide administrative and technical support to the body. The committee will submit to the President a bi-annual report on the status of RoW activities for ongoing railway projects. It will also take the lead in coordinating railway policies and programs among government agencies. The panel will ensure “effective completion” of programs related to land acquisition and other right-of-way activities such as livelihood programs, income restoration, and resettlement. It may also act on issues or complaints raised to the body. Terry L. Ridon, convenor of think tank InfraWatchPH, said the new committee could skip necessary social preparations as the Presidential Commission for the Urban Poor (PCUP) was not included as a member. “Conspicuously absent among the member-agencies is the PCUP, which is the lead agency for social preparation activities of urban poor communities affected by infrastructure projects such as railways,” he said in a Facebook Messenger. “Without PCUP having a seat at such a high-level committee, the government may be blindsided on the direct sentiments of urban communities affected by railway projects,” he added. The DoTr in a statement said the new committee is a “huge lift” for the Philippine railway sector. “It will help us bring back the glory days of the Philippine railway system.” The government’s infrastructure projects have been hampered by RoW issues that have delayed their completion. Transport Secretary Jaime J. Bautista said in early March RoW issues are threatening the 2029 deadline for the completion of the 33-kilometer Metro Manila Subway Project. While the construction of the subway tunnels began in January 2023, Mr. Bautista said last month the government had yet to secure 45% of the RoW. The Marcos administration’s priority infrastructure projects for the transport sector also include the North-South Commuter Railway System, Mindanao Railway Project, and Philippine National Railway South Long Haul. A 2016 law authorizes the government to acquire real property needed as RoW sites or for any National Government infrastructure project through donation, negotiated sale, expropriation, or any other mode of acquisition. Randy P. Tuaño, dean of the Ateneo de Manila University School of Government, said the government should have included representatives from the private sector and civil society groups in the committee “so that issues raised by these sectors could be discussed.” All concerned agencies and instrumentalities of the National Government, including state corporations and local government units, have been directed to support the order’s implementation.

  • By B.M.D.Cruz, April 2, 2024; Business World https://www.bworldonline.com/top-stories/2024/04/02/585060/world-bank-raises-philippine-gdp-growth-projection-for-2025/ The World Bank (WB) maintained its economic growth forecast for the Philippines this year but raised its 2025 growth projection, amid expectations of higher consumer spending and foreign investments. In its latest East Asia and Pacific (EAP) Economic Update, the World Bank said it expects Philippine gross domestic product (GDP) to grow by 5.8% this year, the fastest in Southeast Asia along with Cambodia. The Philippines and Cambodia are seen to expand faster than Vietnam (5.5%), Indonesia (4.9%), Malaysia (4.3%), Lao People’s Democratic Republic (4.0%), Timor-Leste (3.6%), Thailand (2.8%) and Myanmar (1.3%). For 2025, the World Bank raised its GDP forecast for the Philippines to 5.9% from 5.8%. However, the World Bank’s growth forecasts for the Philippines are lower than the government’s target of 6.5-7.5% for 2024 and 6.5-8% for 2025 to 2028. “What has sustained growth in the Philippines, like much of the region, has been consumption and the recovery in services,” WB East Asia and Pacific Chief Economist Aaditya Mattoo said at a virtual briefing on Monday. He noted foreign investment flows into the Philippines might increase after the government implemented significant reforms such as Republic Act No. 11659 or the Public Service Act, which allows full foreign ownership in key sectors such as telecommunications and airlines. “(The reforms) should begin to pay off in terms of greater foreign investment, which though in the short run… the flows have been less strong than we would have expected,” Mr. Mattoo said. Climate and geopolitical shocks, as well as elevated inflation and high interest rates are risks to the growth outlook. “If there is a resurgence in inflation, for example in the United States, which might well see interest rates even higher for longer, that would certainly affect growth throughout the region as we have estimated,” he said. The World Bank projects GDP growth for East Asia and the Pacific at 4.5% this year and 4.3% for 2025. This is slower than the region’s projected 5.1% expansion in 2023. “Most economies in developing East Asia and Pacific, other than several Pacific island countries, are growing faster than the rest of the world, but slower than before the pandemic,” the World Bank said. The region’s slower growth is partially due to China, whose economy is expected to slow to 4.5% this year and 4.3% next year. “China is aiming to transition to a more balanced growth path but the quest to ignite alternative demand drivers is proving difficult,” the World Bank said. Excluding China, the region’s GDP is projected to expand by 4.6% this year and 4.8% in 2025. “The likely rebound in global goods trade and the gradual easing of global financial conditions are expected to offset the impact of China slowing down,” it said. Poverty to Decline Meanwhile, the World Bank expects Philippine GDP growth to average at 5.9% from 2024 to 2026, driven by strong domestic demand. “The medium-term outlook will be driven by robust private consumption activity, supported by declining inflation, a healthy labor market and steady remittance inflows,” it said in its Macro Poverty Outlook for the Philippines. It expects poverty in the Philippines to decline despite risks from extreme climate events. “Poverty incidence using the World Bank’s poverty line for lower middle-income countries of $3.65/day, PPP (purchasing power parity) is projected to decrease from 17.8% in 2021 to 12.2% in 2024 and further decrease to 9.3% in 2026,” it said. The World Bank said risks to this outlook include high inflation that would “dampen economic activity by keeping the policy rate higher for longer, erode purchasing power and threaten to deepen poverty and worsen economic vulnerability.” “The possibility of higher-than-expected global inflation, still tight global financing conditions, a further slowdown in the growth of China and escalating geopolitical tensions could cause a sharper-than-expected growth slowdown which would further dampen external demand,” it added.

  • By Jose Cielito Reganit, March 21, 2024; Philippine News Agency https://www.pna.gov.ph/articles/1221283 MANILA – The proposed New Government Procurement Reform Law may be ready for signing by President Ferdinand R. Marcos Jr. in May. Senior Deputy Speaker and Pampanga 3rd District Rep. Aurelio Gonzales Jr. said he met with Senate President Juan Miguel Zubiri on Tuesday to discuss the proposed new procurement law. “Pinag-usapan po namin ni Senate President Migz na maipapasa by May. At siguro po, before SONA (the President’s State of the Nation Address in July), okay na po ‘yung ating (bagong) Procurement Law, (I discussed with Senate President Migz that it will be passed by May. And hopefully, before the President’s SONA in July, we already have a New Procurement Law)” Gonzales said in a press conference at the House of Representatives on Thursday. The proposed New Government Procurement Act, principally authored by Speaker Martin Romualdez and Gonzales, is one of the priority measures included in the Legislative-Executive Development Advisory Council (LEDAC). The House passed House Bill 9648 (HB) on Dec. 12 last year. The Senate opened second-reading deliberations on its version on Monday. Gonzales noted that the enactment process for the proposed new law could be shortened further if the Senate would just adopt HB 9648, which seeks to repeal and replace Republic Act (RA) 9184, the present procurement statute. “So, ang gusto ko po sana kung pupuwede, kaming dalawa ni (Budget) Secretary Mena (Amenah Pangandaman) at ni Speaker, gusto namin talaga mapabilis itong (My point is if it’s possible. I and Budget Secretary Pangandaman, and Speaker Romualdez want to hasten the passage of the) Procurement Act,” he said. He said in the case of the judiciary, the Supreme Court has “pipeline projects all over the country,” like more courtrooms, but cannot be immediately bid out because RA 9184 has to be amended first. Among the salient features of the new law is the reduction of the procurement process from 120 days to just 27 days, “starting from the advertisement up to the notice of award, notice to proceed, and signing of contract and (with) one publication only.” The measure aims to adopt a “single electronic portal” known as the Philippine Government Electronic Procurement System (PhilGEPS) for all procurement activities — from planning to implementation. Another salient feature of the proposed new procurement law is the removal of the requirement for the post-qualification of bidders. On Tuesday, Pangandaman said passing the New Procurement Act would be a “significant step” in promoting transparency and good governance and, at the same time, help government agencies utilize their budget efficiently. “This is a significant step that will promote transparency, efficiency, and good governance, aligning with President Bongbong Marcos’ vision of Bagong Pilipinas (New Philippines),” Pangandaman said in a statement.

  • By Jean Mangaluz, March 19, 2024; Philippine Daily Inquirer https://newsinfo.inquirer.net/1920525/fwd-zubiri-on-ledac MANILA, Philippines — Senate President Juan Miguel Zubiri on Tuesday said that the Senate is still on track to pass all the priority bills of the Legislative Executive Development Advisory Council (Ledac) by June. According to a Palace statement, Zubiri made the pledge to President Ferdinand “Bongbong” Marcos Jr. himself. Zubiri, Marcos, House Speaker Martin Romualdez and the country’s economic chiefs met in a Ledac meeting in Malacañan Tuesday morning. “Mayroon pa kaming, of course, utang dahil hindi pa namin natatapos. But we committed to the President all 23 measures, hopefully, will be done by June before the Senate break or sine die break. So ‘yan ang commitment namin sa House of Representatives together with the President. But we’re on track to pass all of these by June,” said Zubiri. (We committed to the President all 23 measures, which hopefully will be done by June before the Senate break or sine die break. So that is our commitment to the House of Representatives together with the President. We’re on track to pass all of these by June.) A total of 15 measures will be completed before the Senate Sine die adjournment and another eight will be done by June, said Zubiri. According to Zubiri, however, many laws are already on the Bicameral Conference Committee Meetings level, while others only need Marcos’ signature. For the House of Representatives, all Ledac priority measures have been passed, according to Romualdez. In January, the Ledac determined that there were 15 priority bills to be passed before June, namely: Amendments to Anti-Agricultural Smuggling Act/Anti-Agricultural Economic Sabotage Act Self-Reliant Defense Posture Act Philippine Maritime Zones Act Real Property Valuation and Assessment Reform Act Philippine Ecosystem and Natural Capital Accounting System Negros Island Region Act Anti-Financial Accounts Scamming Act Value Added Tax on Digital Services Amendments to the Government Procurement Reform Act Blue Economy Act Waste-to-Energy Bill Mandatory Reserve Officers’ Training Corps and National Service Training Program Unified System of Separation, Retirement, and Pension of Military and Uniformed Personnel E-Government Act/E-Governance Act Academic Recovery and Accessible Learning Program Act

  • By William B. Depasupil, March 18, 2024; The Manila Times https://www.manilatimes.net/2024/03/18/news/national/bi-cfo-launch-joint-database-system/1937317 The Bureau of Immigration (BI) and the Commission on Filipinos Overseas (CFO) have integrated their database systems to provide efficient and faster service to departing and arriving overseas Filipino workers (OFWs) while making it doubly hard for illegal and undocumented workers or victims of human trafficking. Immigration Commissioner Norman Tansingco said over the weekend that the BI-CFO joint system agreement aims to provide a simplified and more efficient means of processing, collecting, verifying, and sharing information or data needed by both agencies. The joint system seeks to address and eliminate illegal recruitment, human trafficking, and irregular migration incidents in the Philippines while generating accurate data on migration. “Interoperability is an important part of modern governance,” said Tansingco. “The integration of our systems to share real-time data will provide streamlined and efficient services to the public,” he added. He said BI officers have encountered several instances of fake CFO Guidance and Counseling Program (GCP) certificates presented during immigration inspections. GCP is a required pre-departure seminar conducted by the CFO to equip Filipinos in intermarriages and bi-national relationships with adequate information on cultural and social realities overseas. The certificates purport to show that holders have attended the GCP and, therefore, can leave for abroad. Aside from the CFO, the BI has also linked up with the Department of Migrant Workers (DMW). BI records show that the GCP certificate and the Overseas Employment Certificate (OEC) from the DMW are the most common government certificates being faked by human trafficking syndicates. Under the law, Filipinos who are leaving to permanently settle abroad are required to register with the CFO and obtain certificates that they attended the commission’s pre-departure orientation seminar or peer counseling sessions. The OEC, on the other hand, is a requirement for departing OFWs and first-time migrants. Tansingco said the joint system would allow immediate detection of fake CFO certificates and prevent future attempts of fraud. “With the creation of the shared information system between the BI and the CFO, schemes like this will not be able to pass,” he said.

  • By Kristine Daguno-Bersamina, March 16, 2024; Philippine Star https://www.philstar.com/headlines/2024/03/16/2341061/marcos-signs-new-law-online-passport-applications-philippines Manila, Philippines — President Ferdinand Marcos Jr. has approved the “New Philippine Passport Act,” designed to modernize passport application processes nationwide. The law aims to greatly improve accessibility and streamline procedures, especially benefiting senior citizens, overseas Filipino workers (OFWs), and individuals with special needs or exceptional circumstances, according to the Presidential Communications Office (PCO) on Friday. The recently enacted law, signed on March 11, replaced Republic Act No. 8239, also known as the Passport Act of 1996. “The new passport law now authorizes DFA to provide offsite and mobile passport services in areas outside of the consular offices and foreign service posts (FSPs),” the PCO said. “The DFA is also mandated by the new law to arrange accommodations for the applications of regular passports by senior citizens, PWDs, pregnant women, minors aged seven years old and below, solo parents, OFWs, and individuals with emergency and exceptional cases,” it added. To ensure passport security, the PCO explained that the law sets tough penalties for unauthorized passport handling. Offenders could face at least 12 years in prison and fines ranging from P1 million to P2 million. The New Philippine Passport Act addresses offenses such as passport forgery and misuse, with penalties including imprisonment for six to 15 years and fines ranging from P100,000 to P250,000. It also targets unfair practices in passport issuance, prescribing penalties like suspension, dismissal, fines of up to P250,000, and imprisonment for a maximum of six years. According to the PCO, regular passports, meant for Filipino citizens ineligible for diplomatic or official passports, will be issued under the new law, serving government officials or employees traveling abroad for personal reasons. “Government officials and employees and members of their families may, during their incumbency in office, hold two passports simultaneously,” the PCO said. The New Philippine Passport Act will take effect 15 days after its publication in either the Official Gazette or a widely circulated newspaper.

  • March 14, 2024 5:15 pm

    House approves economic Cha-cha

    By Delon Porcalla, March 14, 2024; The Philippine Star https://www.philstar.com/headlines/2024/03/14/2340401/house-approves-economic-cha-cha MANILA, Philippines — The House of Representatives approved on second reading last night Resolution of Both Houses 7 (RBH7) amending restrictive economic provisions in the 1987 Constitution, just before Congress goes on a Holy Week break. Administration lawmakers overwhelmingly endorsed through a voice vote the economic Charter change ostensibly aimed at relaxing foreign ownership restrictions in public utilities, education and advertising. Rep. Rufus Rodriguez, chairman of the House committee on constitutional amendments, suggested that in light of the Philippines’ rift with China over the West Philippine Sea, the government can “exclude Chinese and other risky investors in the economic Charter amendment enabling law.” He said the phrase “unless otherwise provided by law” is proposed to be inserted in the Charter’s economic provisions to give Congress the power to change foreign investment limitations, but this would not mean that all foreign capital would be accepted. Rodriguez said Congress can include a “screening process” in the enabling law that would prevent countries engaged in conflict with the Philippines from coming in with their investments. “I can mention China, with which we have a dispute over the West Philippine Sea. In other words, Congress can craft a law to make sure that risky countries or investments with implications on our national interest and security can be checked and barred from coming in,” he said. Another proponent, Rep. Teodorico Haresco Jr. of the second district of Aklan, said RBH7 can create two million jobs and double the foreign direct investments in the country, which is very much needed as government tries to recover from the adverse effects of the pandemic. “We hold the highest foreign investment restrictions among the ASEAN-5 because of the limitations set in our Constitution and it’s also the reason why we cannot maximize foreign investments which could generate jobs and alleviate poverty,” he said.Data presented by Haresco also showed the Philippines lagging behind its ASEAN neighbors, where it is the last in foreign investment inflows among the five biggest ASEAN economies – Indonesia, Malaysia, the Philippines, Singapore and Thailand – from 2010 to 2020.“The fruits of our economic and fiscal policies in the past decade are almost ripe. It’s high time we remove the barriers so not only a few benefit. Our country must work together with the global community so we can reap these bountiful harvests and have the Filipino people and their families benefit from our labor of love,” Haresco stressed. The measure, authored by House leaders, was discussed extensively since Feb. 26 after RBH7 was filed, and a committee of the whole was formed for purposes of expediting the process, where hearings in the committee level have been done away with. Opponents to the measure have been allowed to pose questions to the resource persons that included framers of the Charter, legal luminaries, members of academe, renowned economists and even former and incumbent government officials. Speaker Martin Romualdez said the chamber will finish the measure in time for the March 22 Lenten break of Congress, which includes the Senate. The resumption of session will start on April 29.

  • By Wilnard Bacelonia, March 12, 2024; Philippine News Agency https://www.pna.gov.ph/articles/1220587 MANILA – The National Economic and Development Authority (NEDA) urged lawmakers on Tuesday to streamline Republic Act No. 9184 or the Government Procurement Reform Act (GPRA) to address supply issues in projects being funded through Official Development Assistance (ODA). During a public hearing of the Congressional Oversight Committee on the ODA (COCODA), NEDA Assistant Secretary Jonathan Uy said with the current law, biddings fail due to shortage of qualified bidders for civil works, goods, and highly technical consulting services. Uy suggested that the best value procurement mechanism in procurement reform should be adopted. “Instead of talking of price per se as the paramount value, we should come up with technical parameters for best value procurement beyond price,” he said. Uy also recommended a statutory grant for the Government Procurement Policy Board to enhance capacity building on procurement, as well as to increase professionalism among procurement practitioners. “We cannot rely on changing procurement officers. In particular, that is an issue in terms of transparency and moral hazard if we have changing procurement officers. Therefore, we have to train a cadre of procurement people not only at the national level, but also at the local government level,” Uy said. The preferential use of domestically produced and manufactured goods, he said, should be amended, saying the technology needed, especially in ODA-funded projects, is usually not locally available. Proposed revisions in Senate plenary Senate Bill No. 2593, which proposes amendments to the GPRA, was ushered on Monday to the plenary. Senator Sonny Angara, chair of the Committee on Finance, assured that the measure would result in greater efficiency in the implementation of projects, purchase of goods and supplies and reducing, if not eliminating, avenues for corruption. A priority measure identified by the Legislative-Executive Development Advisory Council, the amendments to the GPRA are expected to streamline and make effective the process of government procurement. Angara said procurement of basic supplies take an “inordinate amount of time” to complete. “There is a lack of true competition among bidders and oftentimes agencies are unable to undertake the procurement of goods due to poor planning or they are tied up by the procedures under the law,” he said in a speech. In his last State of the Nation Address, President Ferdinand R. Marcos Jr. said the GPRA should be reformed to make public procurement more attuned to the changing times.

  • By Louella Desiderio, March 6, 2024; The Philippine Star https://www.philstar.com/business/2024/03/06/2338317/inflation-quickens-34-percent-february#:~:text=MANILA%2C%20Philippines%20%E2%80%94%20Inflation%20quickened%20to,and%20meat%20and%20transport%20costs. Manila, Philippines — Inflation quickened to a two-month high of 3.4 percent in February from 2.8 percent in January, snapping four straight months of decline amid faster upticks in food prices such as rice and meat and transport costs. The February inflation print, however was lower than the 8.6 percent booked in the same month last year and was within the 2.8 percent to 3.6 percent forecast of the Bangko Sentral ng Pilipinas (BSP). Prior to the pick-up last month, the rate of increase in the average prices of consumer goods and services has been declining since September 2023. National Statistician Dennis Mapa said in a press briefing yesterday the uptrend in inflation was driven by food and non-alcoholic beverages, which posted an inflation rate of 4.6 percent in February from 3.5 percent in the previous month. Food inflation went up to 4.8 percent from 3.3 percent due to higher rice and meat prices. Rice posted a higher inflation rate of 23.7 percent in February from the previous month’s 22.6 percent. Mapa said the February rice inflation was the highest since the 24.6 percent recorded in February 2009. World market prices of rice have been rising and all three classifications of the staple tracked by the Philippine Statistics Authority also posted increases, Mapa said. “Assuming no reduction in the price, and the movement will continue, we should be expecting high rice inflation until July or August this year,” Mapa said. Meat recorded a 0.7 percent increment in February after easing by 0.7 percent in January. The transport commodity group was cited as another driver of the higher headline inflation rate as the index registered a 1.2 percent increase from a 0.3 percent decline. Housing, water, electricity, gas and other fuels also contributed to the uptrend as it recorded a faster uptick of 0.9 percent in February from the previous month’s 0.7 percent. National Economic and Development Authority Secretary Arsenio Balisacan said the government would continue to monitor food supply and prices and implement policies to ensure affordable and adequate food especially for the most vulnerable sectors. “As we navigate the economic landscape, it is imperative that we remain vigilant and proactive in our approach to managing inflationary pressures. While we have seen some relief from certain inflation risks, we must not become complacent. The potential impact of a strong El Niño weather pattern on food prices is a significant concern for our community,” Balisacan said. Balisacan said the government is coming up with strategies to respond to the challenges. While international rice prices have started to ease and local supply is expected to increase with the dry season harvest beginning this month through April, he said the Department of Agriculture is working closely with the International Rice Research Institute to increase the country’s rice production. The NEDA also said the next phase of the test for the African swine fever vaccine is awaiting Food and Drug Administration approval. This vaccine, once proven effective, will be rolled out to help ensure adequate pork supply in the country. ING senior economist Nicholas Mapa said the February inflation print was driven in large part by another supply side shock with food inflation reversing to accelerate. For the coming months, he said “the direction of inflation will be driven largely still by supply side factors and thus we will have to brace for episodes of sharp shifts and reversals as supply constraints remain unaddressed.” Oxford Economics economist Makoto Tsuchiya said the latest inflation outturn is not seen as the start of a significant reacceleration in prices, as the upside came from the supply side. Tsuchiya said the demand side inflationary pressures are limited. “With the economy set to slow this year amid soft external demand and the lagged impact of monetary policy, we don’t see a strong risk of demand-pull inflation,” he said. Diwa Guinigundo, former BSP deputy governor and now country analyst at GlobalSource Partners, said the central bank is likely to avoid moving too fast in easing its current monetary stance.

  • By Ruth Abbey Gita-Carlos, March 1, 2024; Philippine News Agency https://www.pna.gov.ph/articles/1219879 MANILA – Department of Budget and Management (DBM) Secretary Amenah Pangandaman has expressed appreciation for the agency’s purchasing arm, the Procurement Service (PS), for its digitalization efforts to ensure bureaucratic efficiency and improved service. In her keynote speech during PS-DBM’s appreciation event for its client agencies at the Philippine International Convention Center in Pasay City on Thursday, Pangandaman lauded the digital transformation initiatives of the agency’s procurement arm, which includes the modernization of the Philippine Government Electronic Procurement System (PhilGEPS). “This event’s theme, ‘ONE in Procurement and Service 2024: Transformative Public Service in the Digital Age,’ speaks volumes about PS-DBM’s commitment to achieving the government’s Agenda for Prosperity, leveraging digitalization towards bureaucratic efficiency, and improved public service delivery,” she said, as quoted by the DBM in a news release on Friday. “Congratulations to PS-DBM and our beloved client agencies on the success of this event. United as ‘One in Procurement and Service,’ may we never cease to work passionately in closing the gap between the government and the people we serve.” Pangandaman acknowledged the importance of modernizing the PhilGEPS by having an electronic marketplace that will ensure the client agencies’ convenient procurement of Common-use Supplies and Equipment (CSE). CSEs are items essential to the government’s daily operations. These include ball pens, papers, staplers, paper clips, and folders that are procured from the PS-DBM on a quarterly basis. Pangandaman also thanked the PS-DBM, headed by its executive director Dennis Santiago, for advocating the Government Procurement Reform Act, which is nearing passage. She said the proposed measure would help improve the country’s procurement system. “All of these wins are anchored on President Ferdinand R. Marcos Jr.’s vision of a Bagong Pilipinas (New Philippines) where the government is truly responsive to the needs of the people, accountable to its constituents, and fulfills its promise of prosperity to everyone,” Pangandaman said. During the event, Santiago presented the agency’s 12-Point Agenda, which aims to focus on the procurement of CSEs. He said the agenda would pave the way for the study, review, and rationalization of CSEs. The agenda also seeks to build up PS-DBM’s financial self-sufficiency and implement organizational restructuring of the procurement arm, including its human resource development and capacity building. He said the PS-DBM also aims to advance market-strengthening strategies and alliance-building; push for the institutionalization of Framework Agreement and Indefinite Delivery and Indefinite Quantity contractual arrangements to simplify CSE procurement; and take advantage of the benefits of economies of scale through bulk purchasing. “We do what we can to ensure integrity, transparency, and accountability in the performance of our duties. Ang tiwalang ipinagkaloob po ninyo ang nagsisilbing inspirasyon upang mas pag-ibayuhin at paigtingin ang pagtupad sa aming sinumpaang tungkulin (Your trust in us serves as an inspiration for us to improve and intensify our efforts to fulfill our mandate),” Santiago said. The appreciation event was the PS-DBM’s first engagement catered to commemorate the decades-long commitment of its client agencies to accountable, transparent, and efficient procurement. The awardees included officials and key representatives of the DBM; Government Procurement Policy – Technical Support Office; Bangko Sentral ng Pilipinas; Department of Health (DOH); Department of Foreign Affairs; Department of Environment and Natural Resources; Department of Education; Home Development Mutual Fund; Games and Amusement Board; Philippine National Police; Supreme Court of the Philippines; Subic Bay Metropolitan Authority; Clark Development Corp.; and the National Youth Commission. Other awardees were DOH 10 (Northern Mindanao); Department of Information and Communications Technology 7 (Central Visayas); Quezon City government; University of the Philippines (UP) Manila; UP Diliman; UP Los Baños; Jose Reyes Memorial Medical Center, Municipality of Naic, Cavite; 114th Contracting Office for Infrastructure, Armed Forces of the Philippines Procurement Service; City of Himamaylan, Negros Occidental; and the Polytechnic University of the Philippines. (PNA)

  • By Richmond Mercurio, February 23, 2024 ; The Philippine Star https://www.philstar.com/business/2024/02/23/2335360/sec-launches-online-portal-corporate-amendments Manila, Philippines — The Securities and Exchange Commission (SEC) is making it easier for corporations to file amendments to their articles of incorporation or by-laws through a newly launched online portal. The SEC said applications for amendments to a corporation’s articles of incorporation and by-laws can be made through the Electronic Application for Modification of Entity Data (eAMEND) portal starting today. The creation of the portal is line with the SEC’s shift to electronic filing, mandated under the Revised Corporation Code of the Philippines. “The eAMEND portal is the commission’s newest innovation that will make filing documents faster, easier, and more efficient for the transacting public,” SEC chairperson Emilio Aquino said. “As the SEC continues its digital transformation journey, we will endeavor to provide more solutions that will push the corporate sector forward in the digital world, while also reaching our targets on sustainability and good governance,” he said. According to the SEC, applications are classified into those that will be issued a digital certificate and those to be given original certification. The first classification applies to applications for amendment of the articles of incorporation and by-laws by domestic stock and non-stock corporations. The SEC said these applications may include a change in the principal office address, an increase or decrease in the number of directors or trustees in the board, fiscal year for one person corporations, and the deletion or addition of new provisions in their existing articles of incorporation. Changes in the date of the annual meeting of stockholders or member and the fiscal year likewise fall under this classification. Meanwhile, the SEC said applications that would undergo regular processing include those for the amendment of partnership, dissolution of partnership, conversion of OPC to an ordinary stock corporation and vice versa, and increase of capital stock of a one person corporation via cash. Changes in provisions regarding purposes, capitalization, and reclassification of shares of corporations, as well as other amendments to the articles of incorporation not covered in the first classification will also undergo regular processing. The SEC said it would automatically purge applications due to failure to provide the required details and upload the documentary requirements, failure to comply with the compliance order from the receipt of email notification, in cases of incomplete or non-compliant submission, as well as failure to pay the amendment fees, within 60, 30, and 45 calendar days, respectively. It said applications may likewise be cancelled by the commission upon non-submission of documentary requirements and non-compliance with any lawful order of the SEC, in instances of incomplete requirements and inconsistent entries in the documents provided. Upon implementation of the online portal, the SEC said only system-generated amendment forms would be accepted for applications under the first category.

  • By Ferdinand Patinio, February 23, 2024; Philippine News Agency https://www.pna.gov.ph/articles/1219442 MANILA – The Philippines became the first country in Asia and the 38th in the world to ratify Convention No. 190 aimed at curbing violence and harassment in workplaces, the International Labour Organization (ILO) said on Friday. This came after Manila deposited the instrument of ratification of the convention to the ILO on Feb. 20. In a statement, the ILO said Convention No. 190 is the first international labor standard to address violence and harassment in the world of work comprehensively. It also introduces the first globally recognized definition of workplace violence and harassment, offering protection to all individuals in the workforce, including interns, apprentices, and those with employer duties or authority. This protection extends across various sectors, including public and private, formal and informal economies, and urban and rural areas. During the ceremony held at the ILO headquarters in Geneva, Switzerland, Department of Labor and Employment (DOLE) Undersecretary for Labor Relations, Policy and International Affairs Cluster Benedicto Ernesto Bitonio Jr. said Manila recognizes the institutionalization of the “right to a world of work free from violence and harassment” as stipulated in the convention. “Convention 190 breaks new ground in the boldness of its scope and ambition. Where it speaks of a “right in the world of work,” it transcends the traditional boundaries of physical spaces, territory, and geography, of formal and informal work arrangements, of urban and rural communities, of corporate halls and households,” he said. He also said the convention calls upon nations to agree on a “baseline of acceptable behavior that respects every worker equally as a human being who has full freedom to choose and pursue the things that society values whatever [their] status, capabilities and sector are”. ILO Deputy Director General Celeste Drake, meanwhile, lauded the Philippines’ move to ratify the accord. “This ratification marks an important step to preventing and eliminating violence and harassment in the world of work. It is time to make workplaces free from violence and harassment a reality everywhere, promoting and realizing social justice for all,” she said. The convention also mandates member states to adopt, in consultation with representative employers’ and workers’ organizations, inclusive, gender-responsive strategies for preventing and eradicating workplace violence and harassment. This approach includes prevention, protection, and enforcement measures, as well as remedies, guidance, training, and awareness-raising initiatives. Acknowledging the distinct roles of governments, employers, workers, and their organizations, the convention emphasizes the importance of social dialogue and tripartism in implementing these measures at the national level. To date, the Philippines has ratified 39 ILO conventions, 31 of which are currently in force. (PNA)

  • By Louella Desiderio, February 19, 2024; The Philippine Star https://www.philstar.com/headlines/2024/02/19/2334418/government-address-price-hikes-neda#:~:text=MANILA%2C%20Philippines%20%E2%80%94%20The%20government%20is,and%20Development%20Authority%20(NEDA). Manila, Philippines — The government is stepping up efforts to address price increases in basic commodities such as rice following a recent survey indicating that Filipinos are dissatisfied with efforts to manage inflation, according to the National Economic and Development Authority (NEDA). “We recognize the significance and urgency of addressing the issues and challenges that have been highlighted by the survey results of OCTA Research Group released (on Feb. 17), particularly on inflation and food security, as well as on job creation and poverty reduction,” NEDA Secretary Arsenio Balisacan said in a statement yesterday. “The Marcos administration is accelerating its efforts to manage price increases of basic commodities such as rice in light of the El Niño phenomenon we are experiencing and the continuing upward price pressure from the global rice market,” he added. Results of OCTA’s Dec. 10 to 14, 2023 survey showed a record-high 75 percent of respondents dissatisfied with the government’s performance in controlling inflation. Only six percent said they were satisfied while 19 percent were undecided. Data released by the Philippine Statistics Authority earlier this month showed the headline inflation rate, or rate of increase in average prices of goods and services typically purchased by consumers, eased to 2.8 percent in January, its lowest level in more than three years due mainly to slower food price increases. Inflation has been on a downtrend, easing from 6.1 percent in September last year to 4.9 percent in October, 4.1 percent in November and 3.9 percent in December. While food inflation eased to 3.3 percent last month from 5.5 percent in December 2023, rice inflation rose further to 22.6 percent from 19.6 percent in the same period. Balisacan said the country has made progress in terms of realizing foreign direct investments that will create more and higher-quality jobs, thus increasing the income and purchasing power of Filipinos. He also cited the country’s 5.6 percent economic growth in 2023, one of the fastest in the region. “When President Marcos began his term, the Philippine economy was recovering from the record 9.5 percent contraction in 2020. The contraction set us back by about three years, with per capita gross national income returning to its pre-pandemic level by the second half of 2023. We have recovered and have indeed outshone our Asian peers,” he said. He noted that the labor market continues to show promise, with unemployment rate at a historic low of 3.1 percent in December 2023 while the December 2023 underemployment rate slid to 11.9 percent from 12.6 percent the same month in 2022. “The Cabinet has taken to heart the President’s directives by ensuring that the necessary policies are in place: we are facilitating massive investments in physical and human capital to create better jobs and improve our economy’s competitiveness while deploying the entire arsenal of policy tools to make food available, accessible, and affordable to the Filipino people,” he added.

  • By Janvic Mateo, February 17, 2024; The Philippine Star https://www.philstar.com/headlines/2024/02/17/2334031/democracy-index-philippines-ranking-goes-down-again#:~:text=From%2052nd%20in%202022%2C%20the,2018%20and%2051st%20in%202017. Manila, Philippines — Still classified as a “flawed democracy,” the Philippines has scored and ranked lower in the 2023 Democracy Index released by London-based think tank The Economist Intelligence Unit (EIU) on Thursday. From 52nd in 2022, the Philippines dropped to 53rd out of 167 countries and territories included in the annual index, which measures the state of democracy across the world. The Philippines ranked 54th in 2021, 55th in 2020, 54th in 2019, 53rd in 2018 and 51st in 2017. EIU’s Democracy Index is based on the ratings for 60 indicators grouped in the five categories: electoral process and pluralism, functioning of government, political participation, political culture and civil liberties. It classifies countries into four regime types: full democracy, flawed democracy, hybrid regimes and authoritarian regimes. Like in previous years, the Philippines remains a “flawed democracy,” defined as countries that have free and fair elections and where basic civil liberties are respected, although there are significant weaknesses in some aspects of democracy, including governance, political culture and participation. In the 2023 index, the Philippines scored 6.66 out of the highest possible score of 10, down from 6.73 in 2022 but still above the 6.62 in 2021. Across the five indicators, the country still scored the highest in electoral process and pluralism (9.17), followed by political participation (7.78), civil liberties (7.35), functioning of government (4.64) and political culture (4.38). Compared to 2022, the country’s score only changed in functioning of government, which dropped from 5.0. The Philippines ranked ninth among countries and territories in Asia and Australasia, and third in Southeast Asia after Malaysia (sixth in the region) and Timor Leste (eighth). Globally, Norway remained on top with a score of 9.81, followed by New Zealand (9.61), Iceland (9.45), Sweden (9.39), Finland (9.3), Denmark (9.28), Ireland (9.19), Switzerland (9.14), Netherlands (9.0) and Taiwan (8.92). Afghanistan remained at the bottom of the list with a score of 0.26, followed by Myanmar (0.85), North Korea (1.08), Central African Republic (1.18), Syria (1.43), Turkmenistan (1.66), Chad (1.67), Democratic Republic of Congo (1.68), Laos (1.71) and Sudan (1.76). The latest index found that the number of “full democracies” remained at 24, while “flawed democracies” increased from 48 to 50. “Hybrid regimes” decreased from 36 to 34, while “authoritarian regimes” remained at 59. Among those that changed categories were Greece (from flawed to full democracy), Chile (from full to flawed democracy), Papua New Guinea and Paraguay (from hybrid regime to flawed democracy), Angola (from authoritarian to hybrid regime) and Pakistan (from hybrid to authoritarian regime). Despite the increase in the number of democracies (full and flawed), EIU noted that the global average index score fell from 5.29 in 2022 to 5.23 in 2023, a new low since the launch of the index in 2006. The Asia and Australasia region also recorded a decline in its score, from 5.46 to 5.41, with 15 out of 28 countries and territories recording a decline and only eight an improvement. “Asia is the most dynamic region of the world in terms of economic growth, but it continues to lag behind in terms of democratization. More than half the countries covered by the index regressed in 2023, recording a deterioration in their democracy scores,” said Joan Hoey, editor of the 2023 Democracy Index.

  • By Christopher Lloyd Caliwan, February 16, 2024; Philippine News Agency https://www.pna.gov.ph/articles/1218972 MANILA – Cases of online scams in the country dropped by 40 percent in January this year, the Philippine National Police Anti-Cybercrime Group (ACG) said Friday. In a statement, ACG chief Maj. Gen. Sidney Hernia said 624 cases were logged last month, from 1,045 cases in January last year. Hernia said the ongoing establishment of PNP ACG offices in various regions, provinces and districts, combined with efforts to set up cybercrime desks within police stations, has been instrumental in the ongoing battle against cyber fraud. To bolster these measures, he said, the PNP would continue holding comprehensive training, seminars and lectures for personnel assigned to cybercrime desks to sharpen their skills and deepen their expertise, ultimately contributing to the creation of a safer online environment for everyone. The ACG chief also said the cooperation of complainants and the effectiveness of law enforcement operations send a strong message to cybercriminals. “As they witnessed their peers being brought to justice and their operations disrupted, they were compelled to reconsider their actions, ultimately leading to a significant decline in illegal online activities,” Hernia added. Hernia, meanwhile, urged netizens to be vigilant in their online activities. “It is imperative that we continually educate ourselves to safeguard against falling victim to online scams,” he said. In a command conference on Thursday, President Ferdinand R. Marcos Jr. directed the police force to improve its prevention, detection and investigation of cases to combat cybercrimes considering the current sophisticated and technology-based crime modalities. The PNP has already proposed the establishment of a Cybersecurity Center for the monitoring, detection, protection and mitigation of and response to cybersecurity issues and incidents in the agency’s information and communications technology infrastructure. (PNA)

  • By Ruth Abbey Gita-Carlos, February 16, 2024; Philippine News Agency https://www.pna.gov.ph/articles/1218961 MANILA – The Philippines is open to more investments that would improve Internet connectivity in the Philippines, President Ferdinand R. Marcos Jr. said Thursday. During the lighting up ceremony of the Philippine Domestic Submarine Cable Network (PDSCN) at The Peninsula Manila Hotel in Makati City, Marcos acknowledged the private sector’s crucial role in achieving his administration’s vision of a “digitally connected Philippines.” “With the help of our private sector partners, we continue to pursue measures towards providing the Filipino people with reliable and affordable Internet services, which will enable us to improve our standing in the world in terms of broadband and mobile Internet speed and coverage,” Marcos said. “I look forward to further collaboration and partnership in different endeavors where we could gain from your experience and your expertise. We are excited to see your many investments that will come to fruition in the near future.” The government, he said, is committed to promoting ease of doing business in the country to facilitate the establishment of critical infrastructure in telecommunications. Marcos said the PDSCN is “truly a game changer in the Philippines’ quest to be amongst equals in terms of Internet interconnectivity and digital transformation.” The PDSCN is an undersea fiber optic backbone network infrastructure spanning more than 2,500 km. that connects the Islands of Luzon, the Visayas, and Mindanao with touch points in 21 provinces, including Quezon up to Zamboanga. It aims to provide inclusive connectivity across the Philippines, particularly in the underserved and unserved areas. Marcos said the project, which is the “longest and highest capacity domestic submarine fiber cable network” in the country, is a step closer to reaching his administration’s dream of a “better, brighter, and more connected Bagong Pilipinas (New Philippines).” “Because of this connection, we now find a long-term solution that delivers high-connectivity and high-speed Internet for our people and facilitates the realization of the Bagong Pilipinas that we envision for our country,” he said. “With this project, we will be able to better position our country as an even more attractive destination for technology-centric businesses, such as hyperscale data centers and AI (Artificial intelligence) computing.” The President also expressed optimism that the PDSCN would facilitate faster Internet and more efficient digital services to Filipinos, as well as help the government ramp up its efforts to digitalize public data and government services. The PDSCN is a joint project of Globe Telecom, Eastern Telecom, and InfiniVAN, Inc., in coordination with the Department of Information and Communications Technology (DICT), to strengthen the country’s digital transformation. “With the completion of the PDSCN, let me express our excitement and our optimism as we zoom in on faster fiber Internet speeds for Filipinos. I congratulate InfiniVAN and its partners Globe Telecom, and Eastern Telecommunications for making this impressive project a reality,” he said. (PNA)

  • By Ian Nicolas P. Cigaral, February 12, 2024; Philippine Daily Inquirer https://business.inquirer.net/445022/dof-govt-to-set-more-realistic-growth-targets#:~:text=Economic%20managers%20will%20come%20up,the%20state’s%20expectations%20last%20year. Economic managers will come up with “more realistic” growth targets for 2024 until the end of President Marcos’ term in 2028 to reflect current economic conditions and after growth fell below the state’s expectations last year. “We’re discussing that right now because I think we have to come out with a more realistic target,” Finance Secretary Ralph Recto told reporters in an interview at the Bureau of Internal Revenue’s anniversary event last Thursday. “Something more realistic but still high for 2024 and beyond,” Recto said. The inter-agency Development Budget Coordination Committee (DBCC) met last Feb. 5 to discuss the government’s growth outlook. That was Recto’s first DBCC meeting as finance chief. Last December, the DBCC trimmed its gross domestic product (GDP) growth target for 2024 to 6.5 to 7.5 percent, from the previous projection of a 6.5 to 8-percent expansion. At present, the biggest worry for the government is the prolonged El Niño dry spell, which is predicted to last until the second quarter of 2024 and may push up food and power costs. Headwinds Another challenge for the economy is the high interest rate environment that can hurt consumption and investments. In 2023, the economy grew 5.6 percent, easing from the 7.6 percent expansion in 2022. The figure also missed the Marcos administration’s 6 to 7 percent growth target for last year. Secretary Arsenio Balisacan of the National Economic and Development Authority said growth would have been stronger last year if not for the brutally high inflation and the aggressive interest rate hikes meant to tame fast-rising consumer prices. But despite the headwinds, Balisacan said the current economic targets set by the DBCC were still doable. No more rate hikes? In the same interview last week, Recto said he does not expect future rate increases during the current hiking cycle as inflation had been within the Bangko Sentral ng Pilipinas’ (BSP) target range and was still softening. “No, I don’t expect a future rate hike because inflation is going down. And it seems like it’s going down globally also,” said Recto, who will attend his first monetary policy meeting on Feb. 15 as the state’s representative in the powerful Monetary Board. “It all depends on what the US Fed does as well … And then we look at our own data too,” he added. Inflation, as measured by the Consumer Price Index (CPI), softened to an annualized rate of 2.8 percent in the first month of 2024, from 3.9 percent in December. The latest reading, the lowest since October 2020, matched the lower-end of the BSP’s forecast range for last month. It was also the second consecutive month that inflation eased to within the BSP’s 2 to 4 percent target after hovering above that range for 20 months. But with threats to its inflation target still very much present, the BSP said it “deems it necessary to keep monetary policy settings sufficiently tight until a sustained downtrend in inflation becomes evident.” Governor Eli Remolona Jr. said a rate cut was “possible” this year. The BSP’s benchmark rate—which banks typically use as a guide when charging interest rates on loans—is currently at 6.5 percent, the highest in 16 years. By keeping borrowing costs high, the central bank wants to bring demand for key consumer items in line with limited supply to prevent a fast rise in prices.

  • By Luisa Cabato, February 3, 2024; Philippine Daily Inquirer https://newsinfo.inquirer.net/1898691/dict-eyeing-to-revive-medium-term-it-harmonization-initiative Manila, Philippines —  The Department of Information and Communications Technology (DICT) is looking into reviving the Medium-Term Information and Communications Technology Harmonization Initiative (MITHI), its official said on Saturday. MITHI aims to harmonize ICT-related programs, resources, and projects in government agencies and institutions. “Iyong sa government network na interrelated, mayroon na po kaming facility ngayon. Ibinabalik na namin iyong MITHI; ito ay pag-uusap — the Medium-Term IT Harmonization Initiative — iyon po ang ibig sabihin ng MITHI,” said DICT Undersecretary Jeffrey Ian Dy in a news forum. (We already have facilities that are interrelated in the government network, and we are now reviving the MITHI. This is a discussion about the Medium-Term IT Harmonization Initiative—that is what MITHI means.) Dy said that the initiative is in partnership with the Department of Budget and Management. “Upang lahat ng mga IT projects, kasama na iyong cyber security projects, ipadaan sa DICT, sa DBM, kasama na rin ang NEDA (National Economic and Development Authority), DOF (Department of Finance) para kapag ginawa ang budget, alam din namin na iyong binibili consistent and within the ambit of what can work together,” he added. (To ensure that all IT projects, including your cyber security projects, go through the DICT, along with the DBM, including NEDA and DOF, so that when the budget is prepared, we also know that what is being purchased is consistent and within the ambit of what can work together.) During the forum, Dy also urged other government agencies to enforce the policy that devices and equipment used for work should not use any non-work-related software that might pose potential hazards. “Sa ngayon ang ibigay lang namin ay guidance; huwag ninyong gagawin kung hindi work-related,” the official said. (For now, what we are giving is guidance; do not do it if it is not work-related.) Dy added that the DICT might issue an order to ban activities and software from being downloaded and used through government-owned devices.  

Archives