BusinessMirror July 24, 2024 by BusinessMirror

Q2 GROWTH COULD HIT NEARLY 6%–NEDA CHIEF

By Andrea E. San Juan @andreasanjuan

THE Philippines will likely grow by nearly 6 percent in the second quarter of 2024 on the back of better employment, exports and manufacturing output, among others, according to Socioeconomic Planning Secretary Arsenio M. Balisacan.

“The employment numbers... are okay, exports for the first half are turning out not so bad, so probably close to…at least the lower end of the target,” Balisacan told reporters on the sidelines of

See “Growth,” A

Anticipated rate cut crucial to growth–DOF

By Reine Juvierre S. Alberto

@reine_alberto

THE Monetary Board (MB) is on track to reduce key policy rates this year to support consumer and investment growth, according to Finance Secretary Ralph G. Recto. Recto, who is a member of the highest policy-making body of the Bangko Sentral ng Pilipinas (BSP) Monetary Board, said on Tuesday the anticipated rate cut as early as August is the “most important” as this will support the country’s economic growth. A growth in consumption will be realized in the fourth quarter of the year if interest rates are reduced in the third quarter while a rise in investments is poised for 2025, according to Recto. Earlier, Recto said 150 basis points (bps) may be cut by the

SPELLS

By Ma. Stella F. Arnaldo @akosistellaBM

the

THE departure of Philippine Offshore Gaming Operations (Pogo) will likely result in significant vacancies in the office and residential property markets, especially in the cities of Pasay, Parañaque, and Muntinlupa.

In a recent press briefing prior to the State of the Nation Address (Sona) where President Ferdinand R. Marcos Jr., announced a total ban on Pogos, Leechiu Property Consultants (LPC) Director for Commercial

Leasing Mikko Baranda said,

“Many of [Pogos] have already left behind their offices and residential units. There are still a good number that are here, and a few of them that are expanding. Now, if they abandon the office completely, that will be a large contraction that you will need to fill up. They’re still quite heavy in terms of the amount of space they have in the market. But clearly, at least for the last few years, and even in this quarter (April-May 2024), we didn’t see anything major happen on their end. We’ve seen some growth,

See “Pogo,” A

Law enforcers closing in on ‘PBBM’ deepfake vid makers

By Joel R. San Juan @jrsanjuan1573

NTI-CYBERCRIME law

Aenforcers are now zeroing in on those responsible for the malicious production and dissemination of the now viral video showing a man who looks like President Ferdinand Marcos Jr. snorting a white powdery substance.

At a joint briefing held Tuesday, officials of the Department of the Interior and Local Government (DILG), Department of Justice (DOJ), National Bureau of investigation (NBI) and Philippine National Police, announced that President Marcos and the man on the video are not one and the same person based on the analysis conducted by their experts using forensic instruments and equipment.

Continued from A

Monetary Board in the next two years.

As to when the policy-making

The NBI and PNP both shared their findings which showed significant discrepancies in the features of the man in the video and Marcos, particularly the ears, eyes, nose and the sideburns.

NBI Cybercrime Division Chief, lawyer Jeremy Lotoc explained that photos taken from the video were analyzed through a video spectral comparator, which he said was a spectral imaging process for forensic examination and authentication.

DOJ Undersecretary Jesse Andres said law enforcement agencies are now digging deeper to determine the source of the video and those who maliciously circulated and shared it on various social media platforms.

“Indeed, the intention is really to make a misrepresentation. This impostor is trying to misrepresent himself as an image of the

body would start reducing rates, Recto said he would leave it up to BSP Governor Eli M. Remolona Jr., who chairs the Monetary Board.

“If he tells me he thinks August, I am willing for August,” Recto said

President doing unsavory acts,” Andres said.

“We are investigating this very deeply and we already have substantial leads on how we will be able to identify the perpetrators of this malicious video,” he added.

For his part, DILG Secretary Benjamin “Benhur” Abalos said law government agencies are now discussing their next steps to hold accountable those responsible for the release of the video.

“But one thing is for certain, someone should be held answerable for this,” he said.

Andres said they have yet to identify the individuals involved in the fabrication of the video, which put the President in a bad light just hours before he was to deliver his third State of the Nation Address (Sona). However, he assured the public these individuals would be

on the rate cut timing.

However, Recto said he’s a “little more conservative,” signaling to postpone a rate cut this coming Monetary Board policy meeting on August 15 to be followed on October 17.

identified soon.

“With due process, we will see to it that the persons responsible will be held accountable for this malicious and dastardly act,” Andres said.

NBI Director Jaime Santiago said the agency is now gathering evidence for the purpose of filing an “airtight” case against the perpetrators.

He stressed the production and dissemination of such false information is illegal and punishable under Article 154 of the Revised Penal Code.

Article 154 states that “any person who, by means of printing or any other means of publication, shall publish or cause to be published as news any false news which may endanger the public order, or cause damage to the interest or credit of the State, can be held criminally liable.”

What’s more important is that interest rates are to be reduced, Recto said. “One month to me, will not make a difference.”

Remolona said earlier that the government cannot wait too long for easing policy rates as this will cause a loss of output.

(See: https://businessmirror. com.ph/2024/07/09/furtherdelays-in-easing-may-causeoutput-losses/)

If the Monetary Board reduces policy rates in August, a 25-basispoint rate cut could happen, reducing policy rates to 2 percent. This will be the first time the BSP has cut rates since November 2020.

Meanwhile, Laurel said he was “surprised” over the United States Department of Agriculture’s (USDA) rice import forecast of 4.7 million metric tons (MMT) this year.

“I don’t think the lowering of tariffs would increase importation [...] the only reason that importation would increase is because of demand,” the DA chief said.

He explained, “It’s basically demand-driven. I really don’t think [our imports would reach] 4.7 [MMT].”

The USDA said in its latest report that the Philippines’s imported rice purchases will hit 4.7 MMT or 1 MMT higher than the 3.61 MMT it imported last year.

The agency had adjusted upwards its rice imports forecast for the Philippines this year from the initial 4.6 MMT.

“Total imports are estimated higher on increases for Malaysia, the Philippines, and Cameroon,” the USDA report read.

Data from the Bureau of Plant Industry (BPI) revealed that the country’s imported rice arrivals breached 2.3 MMT in the first semester, 24 percent higher than last year’s 1.86 MMT. Growth.

Continued

the Post-State of the Nation Address (Sona) Briefing on Tuesday, when asked if the indications for gross domestic product (GDP) in the second quarter are expected to be higher than growth in the first quarter.

The government, through the Development Budget Coordination Committee (DBCC), had set a 6- to 7-percent GDP growth assumption for 2024.

“Despite external headwinds, we are expected to continue surpassing most emerging economies, finishing strong at 6.0 to 7.0 percent in 2024 and expanding further to 6.5 to 7.5 percent in 2025, roughly consistent with the average growth forecasts of multilateral organizations,” the DBCC statement on June 27 noted.

The Philippine economy expanded by 5.7 percent in the first quarter of 2024.

On what could propel the Philippine economy in the second quarter, the Socioeconomic planning chief said, “Remittances are quite good and then exports are not as high, but they have also revised upward the exports for goods and services. The employment numbers are okay.” He added, these are “pretty good indications.”

Moreover, Balisacan said the country’s manufacturing output “was quite above average,” which he said means that the manufacturing sector is expanding.

The Philippines’ Purchasing Managers’ Index (PMI) was at 51.3 in June this year, according

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but not the same growth we’ve experienced as before.”

LPC data showed of the total 685,000 square meters in gross demand for office space in the first half of the year, Pogos accounted for 75,000 sqm, already lower than the 88,000-sqm market share in the same period in 2023, when total office demand was 554,000 sqm.

Aside from office spaces, Pogo workers, especially those from China, also live in rented condominium units or houses near their offices. “So you’re seeing districts such as the Bay Area [Parañaque and Pasay], parts of Alabang [Muntinlupa], and Makati, where they have vacated residential condominium units and it’s showing in the rent rates in these areas,” noted LPC Director for Research and Consultancy Roy Golez. Makati, BGC unaffected “WHILE most of the investors who bought units to house Pogos are most likely local Filipinos, or Chinese customers, they will likely also start to or they have already started selling these residential units. It’s a large supply. If, and when, the Pogo sector starts to shrink further, it will likely impact these locations.” But he was quick to add that residential units in Makati and Bonifacio Global City in Taguig City, “will largely be impervious to that sector.”

In Baranda’s presentation, the Pogo’s demand for office space from January to June 2024 was driven mostly by the expansion of their operations (77 percent of total), while relocation and expansion accounted for 23 percent of their leasing activity.

Pogo operations also represented 8 percent of the 298,000 sqm

to S&P Global Market Intelligence. It noted that while the latest PMI reading represented a softer rate of growth, it still marked the 10th consecutive month the country’s PMI score was above 50, the threshold.

Explaining the latest poverty incidence data, the country’s Socioeconomic Planning chief told reporters that, “It’s even better than expected.”

Latest data from the Philippine Statistics Authority (PSA) showed that at the individual level, poverty incidence was at 15.5 percent meaning, about 17.54 million Filipinos were poor in 2023, lower than the 18.1 percent or about 19.99 million Filipinos poor in 2021.

Poverty incidence is the proportion of Filipino families with incomes that are not sufficient to buy minimum basic food and nonfood needs as estimated by the poverty threshold, PSA explained. (See: https://businessmirror. com.ph/2024/07/23/povertyrate-down-but-poor-pinoysface-risks-experts/)

Balisacan explained, “What I really find interesting in the 2021-2023 numbers it’s quite inclusive growth as we wanted, as indicated in the PDP because the rate of growth of incomes on the lower deciles—meaning bottom 20 percent, bottom 30 percent— is higher than those for the upper deciles or the richer proportion of our population.”

“Of course that could be even better if not for the elevated food prices but nonetheless, the fact that the incomes of the poorer sections of our population have proportionately grown faster than the rest of the population... is a good thing, he said.”

demand for office space in Metro Manila estimated from the third quarter of the year and onward. A total of 786,000 sqm will be added to the current office supply by the second half of the year, data from LPC indicated.

Pagcor earns P5B from Pogos AT his third Sona, Marcos Jr. elicited rousing applause from his audience composed of lawmakers, Cabinet Secretaries and other key government officials, as well as the diplomatic corps, as he announced, “Effective today (July 22, 2024), all Pogos are banned.” He then instructed the Philippine Amusement and Gaming Corp to facilitate the departure and closure of Pogos by yearend. (See, “Marcos Jr bans Pogos, sets end-2024 deadline,” in the BusinessMirror, July 23, 2024.)

Even Opposition Senator Risa Hontiveros admitted in a TV interview that she had stood and clapped for the President because of his announcement. Hontiveros, who is Deputy Minority Floor Leader, is currently investigating crimes committed by illegal Pogos in hearings led by the Senate Committee on Women, Children, and Family Relations, which she chairs. Pagcor revenues from Pogos reached P5 billion last year, a sizeable amount that has left officials cautioning against the banning of such gaming operations. Pogos officially started operating in the Philippines in 2016 during the term of then President Rodrigo Roa Duterte. Under a revised law, only Pagcor has the legal mandate to issue gaming licenses to Pogos, which are composed of local licensees or foreign-based licensees. The Department of Finance had recommended the ban on Pogos, having given the President a cost-benefit analysis of their operations. Earlier, a similar advice came from the National Economic and Development Authority (Neda).

DOJ backs Pogo ban

By Joel R. San Juan @jrsanjuan1573

& Jovee

Marie N. Dela Cruz

@joveemarie

THE Department of Justice

(DOJ) on Tuesday backed President Marcos’s decision to totally ban Philippine Offshore Gaming Operators (Pogos).

In a statement quoting Justice Secretary Jesus Crispin “Boying” C.Remulla, the DOJ said the move only “reflects the current administration’s firm resolve to effectively and fairly administer justice.”

In his third State of the Nation Address (SONA), the President directed the Philippine Amusement and Gaming Corporation (Pagcor), the gaming regulator, to end all Pogo operations within the year.

He also ordered the Department of Labor and Employment (DOLE) to provide an alternative livelihood or other feasible sources of income for Filipino workers who will be displaced by the closure of Pogos.

At the House of Representatives, Speaker Ferdinand Martin G. Romualdez on Tuesday ordered committees to swiftly draft and approve a measure that would enforce Marcos’s ban on Pogos.

At the same time, Romualdez ordered the continuation of the ongoing congressional investigation into criminal syndicates linked to illegal activities associated with Pogos to uncover their methods and leaders.

“Immediately after the Sona of President Marcos, I met with House leaders and top Secretariat officials last night in my office. I asked them to come up with a proposed legislative measure that will put to a halt all Pogo operations effective December 2024, as ordered by the President,” Romualdez said.

“This, however, will not stop the ongoing House investigation into the criminal and other illegal activities linked to Pogo. Hopefully, the House can learn from the hearings—on their modus operandi and the brains behind these activities—as part of inputs for the proposed measure that we will be crafting,” the House leader said.

Romualdez was informed by Secretariat officials that several House bills and resolutions related to Pogo operations are pending before the House Committee on Games and Amusement.

These include House Bill 5082 filed by Manila Rep. Bienvenido Abante, Jr. and HB 10525 filed by Makabayan bloc Reps. France Castro, Arlene Brosas, and Raoul Danniel Manuel.

Also pending at committee level are House Resolution 503 filed by

Rizal Rep. Juan Fidel Nograles, HR 1197 filed by Cagayan de Oro City Rep. Rufus Rodriguez, HR 1524 also filed by the Makabayan bloc, and the privileged speech of Rep. Marissa Magsino, the nominee to the House of the OFW party-list group.

Romualdez emphasized the need to harmonize these measures and file a substitute bill that is acceptable to all stakeholders who participated in the committee hearings.

“I am requesting all the committee chairs concerned to give this a priority. For the House Committee on Public Order and Security to submit their comprehensive report and recommendations to the Committee on Games and Amusement as soon as possible. And for the House Committee on Games and Amusement to come up with a committee report for immediate plenary deliberation,” the Speaker said.

“I want all bases in the total Pogo ban covered in the proposed measure. We have to ensure that the Pogo operators will not just resort to guerrilla operators or go undercover. The law must be crafted with iron-clad provisions to prevent the resurrection of these criminal and illegal activities,” Romualdez stressed.

The House leader explained that a law needs to be enacted to ensure that all anti-Pogo measures are institutionalized not only during the administration of President Marcos, but also beyond his term.

“We want this to be a legacy of President Marcos. We will ensure that criminal syndicates will no longer be able to operate through Pogos and that the masterminds and leaders of these syndicates will be held accountable under the law,” he said.

For his part the House Committee on Ways and Means chairman, Albay Rep. Jose Clemente “Joey” Sarte Salceda said banning Pogo is well within the President’s powers over Pagcor and he believes the transition is best managed under the capable leadership of Pagcor Chairman Al Tengco. Salceda however acknowledged that the ban will have significant impacts, particularly on revenue.

“If the ban affects the entire internet gaming license regime, which is a very broad category that includes the online operations of our very large domestic players, then that is at least P43 billion in revenue that we have to make up for. If it will only affect offshore gaming, then that’s around P14 billion [not P12 billion as earlier reported]. It’s my job to find those alternative sources, and I hope to work with [Finance] Secretary [Ralph] Recto under the President’s instructions,” he explained.

Military always ready to defend natl territory

TBy Rex Anthony Naval

HE Armed Forces will always answer the call to defend the nation against all forms of threat.

“We heard President Marcos’s call to not yield in the defense and protection of our territory and sovereign rights. This is a call that will always be heeded by those in the profession of arms, a duty and mandate that will always rally the brave sons and daughters of our nation,” the chief of staff of the Armed Forces, Gen. Romeo Brawner Jr., said in a statement.

Brawner also said the military fully supports Marcos’s strategy of a fair and peaceful approach, emphasizing a rulesbased international order and efforts toward de-escalation.

“We believe in the importance of maintaining peace and stability through diplomatic means and constructive dialogue,” he added.

In addition, Brawner said that the military is behind the President’s vision of building strong relationships with likeminded nations to promote mutual security and cooperation.

Cyclones, ‘habagat’ kill 8, cause floods

By Jonathan L. Mayuga @jonlmayuga

THE weather disturbances over the past several days—Tropical Cyclones Butchoy and Carina and the prevailing southwest monsoon or habagat have claimed the lives of eight people and ﬂooded areas in Luzon, including Metro Manila, the National Disaster Risk Reduction Management Council (NDRRMC) reported.

Butchoy and Carina came one after the other while the southwest monsoon has been bringing in heavy rains in many parts of the country since July 12.

Malacañang suspended work in government offices and classes in Metro Manila on Tuesday afternoon owing to the incessant rains as the Philippine Atmospheric, Geophysical, Astronomical Services Administration (Pagasa) placed several areas in Luzon under Tropical Cyclone Signal Warning 2 and 1 due to Carina.

As of 2:00 pm on Tuesday, Pagasa also raised the orange rainfall warning signal over Metro Manila, Cavite, Bataan, Zambales, and Batangas, particularly the towns of Tuy, Nasugbu, Lian, and Calatagan. These areas, the weather bureau said, will have 15 to 30 millimeters of rainfall within an hour.

The Manila International Airport Authority (Miaa) also canceled some flights owing to the inclement weather.

Power outages

THE Manila Electric Company

(Meralco) said Tuesday the number of affected customers who experienced power outages due to Typhoon Carina reached 21,000.

“As of 3:30 pm today [Tuesday], affected customers reached 21,000, most of which are in parts of Metro Manila and in the provinces of Cavite, Laguna and Rizal,” it said.

Meralco assured customers that it is working nonstop to restore electricity service in areas affected by the typhoon. Meanwhile, power services to affected customers on July 22 have already been restored.

“We are closely monitoring the situation. Rest assured that our crews are working non-stop to restore service the soonest possible time,” Meralco Vice President and Head of Corporate Communications Joe R. Zaldarriaga said.

Pagasa’sTropical Cyclone Bulletin 16 issued at 5 p.m. Said Carina continues to intensify while moving northward.

As of 4:00 p.m., the cyclone was located 325 kilometers east northeast of Basco, Batanes.

The weather disturbance is packing maximum sustained winds of 150 kilometers per hour near the center, with gustiness of up to 185 kph, and a central pressure of 960 hPa.

As of yesterday afternoon, the typhoon was moving northward at 20 kph.

Tropical Cyclone Wind Signal 1 is hoisted in several provinces in Luzon.

TCWS 1 means the range of wind speeds is between 39 to 61 kph.

These areas are Cagayan including the Babuyan Islands, the eastern portion of Isabela (Divilacan, Palanan, Maconacon, Dinapigue, Tumauini, Ilagan City, San Mariano, Cabagan, San Pablo, Santa Maria), the northern portion of Apayao (Calanasan, Luna, Pudtol, Flora, Santa Marcela, Kabugao), and the northern portion of Ilocos Norte (Pagudpud, Bangui, Adams, Dumalneg, Burgos, Vintar, Pasuquin, Bacarra, Carasi).

Stormy weather is expected to continue in Batanes, Babuyan Islands, the northern and eastern portion of Mainland Cagayan, and Ilocos Sur in the next 24 hours.

Pagasa also warned that rainfall is generally higher that forecast in elevated or mountainous areas. Under these conditions, flooding and raininduced landslides are possible especially in areas that are highly or very highly susceptible to these hazards as identified in official hazard maps and in localities that experienced considerable amounts of rainfall for the past several days.

In addition, the weather bureau warned that the southwest monsoon enhanced by Carina will bring moderate to intense rainfall over various localities in the western portion of

Luzon through Thursday.

Butchoy and habagat IN its Situation 11 report for the combined effects of Butchoy, Carina and the southwest monsoon released on July 23, 2024, the NDRRMC said seven people were confirmed dead.

All of the fatalities are in Mindanao, with four in Zamboanga and one each in Northern Mindanao, Davao, and Bangsamoro Autonomous Region in Muslim Mindanao.

The NDRRMC is still verifying another reported fatality in BARMM. As of Tuesday afternoon, NDRRMC said, Carina, Butchoy and habagat have affected 866,483 people or 179,744 families in Mimaropa (Mindoro, Marinduque, Romblon and Palawan), Western Visayas, Central Luzon, Zamboanga, Northern Mindanao, Davao, Soccsksargen, Caraga, and Bangsamoro region.

Of the affected population, 33,645 people or 7,738 families were in evacuation centers while 572,412 individuals, or 114,481 families were staying in other places.

So far a total of 69 houses were damaged and 167 others partially damaged.

The damage to agriculture is pegged at P8,745,923 and P700,000 for damage to infrastructure.

Some affected areas experienced power and electricity supply interruptions and telecommunication, although electricity in many areas in Mindanao has been restored as of Tuesday afternoon.

Because of the onslaught of the severe weather disturbances since July 12, a state of calamity was declared in Jose Abad Santos in Davao Occidental and Kabacan and Pikit in Cotabato. With Samuel Medenilla & Lenie Lectura

Pogo ban sends some politicians scrambling for campaign

By Jovee Marie N. Dela Cruz @joveemarie

THE total ban on Philippine Online Gaming Operators (Pogo) ordered by President Marcos has effectively placed in disarray all Pogo-linked politicians and other government officials, or the socalled “Makabagong Makapili,” who are banking on the online gaming firms’ financial support in the May 2025 elections, a senior lawmaker said on Tuesday.

With the Pogo ban, Surigao del Norte Rep. Robert Ace Barbers, chairman of the House Committee on Dangerous Drugs, said it is imperative for all concerned government agencies to immediately conduct a crackdown on all illegal and previously legal POGOs and stop their operations.

Brawner said the Armed Forces is grateful for the President’s unwavering support for their modernization efforts and the push towards self-reliance, which are essential for strengthening the country’s defense capabilities.

“As we shift our focus towards external defense, we are grateful for the President’s acknowledgment of our accomplishments in addressing internal security threats. We fully commit to the whole-of-nation approach and the fulfillment of our government’s obligations and agreements aimed at ending decades of strife and ushering just and lasting peace in the country,” he said.

The military remains committed to raising awareness about the intergenerational duty of all Filipinos to protect the West Philippine Sea, Brawner said.

“It is our collective responsibility to ensure that our maritime domains are preserved for future generations.We remain vigilant in our commitment to national defense. We will not yield and waver and will face open and covert threats to our national security with the courage of a true Filipino patriot.”

“We lawmakers laud the President’s decision to immediately ban Pogo operations in the country. The various social harms brought by Pogo to us far outweigh the little economic contributions they made to our economy,” he said. “All those Pogo workers

who violated our laws should not be left unpunished,” he added.

The marching orders of the President on Pogo, Barbers said, should be carried out immediately and properly by all concerned government agencies, such as the Philippine Amusement and Gaming Corporation, the Department of Foreign Affairs, the Department of Justice, the Bureau of Immigration, the Anti-Money Laundering Council, and the Department of Labor and Employment, among others.

He said the President’s directive would surely hurt financially local politicians and other government officials called “Bagong Makapili,” or “Chinese enablers,” who earned perks and privileges in the past for turning a blind eye despite the social menace brought in by Pogos.

Following the President’s Pogo ban, the Commission on Elections (Comelec) is confident that these will no longer influence the outcome of the 2025 polls.

Comelec Chairman George M. Garcia said: “By that time [2025 polls], there will no longer be any Pogo. We

trust on what the President said that enough is enough and there should no longer be Pogos,” Garcia said.

While he welcomes the ban on the online gaming scheme, Garcia said there are still other unscrupulous individuals, who can still influence 2025 election candidates, particularly those involved in illegal drugs and other illegal gambling like jueteng.

“There are still other ‘politics’ like narco politics and jueteng politics, which we should guard against,” Garcia said.

“We should not just let go of these Pogos. We should also investigate, prosecute, and jail all their workers who committed various crimes. They all deserve the most severe punishment under our laws,” Barbers said.

Aside from those crimes, he said other unscrupulous Chinese have managed to play around with Philippine laws, bribing their way in and out of mess, obtaining fraudulently acquired Filipino identification documents, and posing as legitimate Filipinos transacting local businesses, such as real estate firms.

funds

For his part, Senior Deputy Speaker Aurelio Gonzales Jr. also expressed support the order of the President against Pogos.

“I, together with my constituents in Pampanga, fully support the President’s directive. It is unfortunate that the presence of a suspected Pogo hub in Porac town, which the authorities recently raided, has tarnished the image of our province,” he said. He said another huge establishment in his hometown of Mexico is suspected of being a Pogo front.

“Pampanga does not need Pogos to prosper. Because of its central location in Central Luzon, its extensive road network, for which we thank the President, and its proximity to Metro Manila, our province has rapidly developed economically. We can sustain its growth without Pogos,” he said.

He added that the offshore gambling issue “will now be a problem of enforcement, on which national agencies and local governments, including the barangay, should collaborate.” With Samuel Medenilla

Legislator to China: Accept Marcos’s declaration on WPS

ACONGRESSMAN from Mindanao on Tuesday called on China to accept President Marcos Jr.’s declaration on the West Philippine Sea (WPS) made during his third State of the Nation Address (Sona).

Cagayan de Oro City Rep. Rufus

Rodriguez said, “China should accept and respect the President’s unequivocal statement: that the West Philippine Sea is ours and will remain ours.” Rodriguez also lauded Marcos’s statement that the Philippines cannot yield and cannot waver on the WPS. Rodriguez has consistently criticized Beijing’s intrusions and aggressive actions within the Philippines’ 200-mile exclusive economic zone (EEZ), including the WPS.

“We are entitled to our EEZ under international law. The President is asserting our rights over areas that are legally ours. We are claiming what the law entitles us to, no more, no less. China can claim what rightfully belongs to it, and we will respect that,” he said.

However, he said the problem is that Beijing “is overextending its territorial claim to include waters, islands, and resources that are very, very far from its own EEZ.”

“Ayungin Shoal off Palawan in the south is thousands of kilometers from China. Scarborough Shoal, or Bajo de Masinloc to Filipino fishermen, is near Zambales and Pangasinan in the north, and it is hundreds of kilometers from China,” he said.

“How can Beijing legally justify its claim over these shoals and waters that are inside the EEZ of our country? It’s time for Beijing to listen to the President and respect what he says in the interest of peace, stability, and harmony,” he stressed.

He added that no country in the world can accept another nation’s extension of its territory.

Meanwhile, Speaker Ferdinand Martin G. Romualdez commended President Marcos for his bold pronouncement on the issue of the West Philippine Sea.

“The President’s declaration that the WPS is rightfully ours is a powerful assertion of our national sovereignty,” Romualdez said, reacting to the President’s assertion that the

WPS is not just an imagination but a reality belonging to the Philippines.

According to the Speaker, the President’s expression of gratitude to the military, Coast Guard, and fishermen for their relentless efforts in defending the WPS “underscores their vital role in upholding national integrity.”

He said the President’s emphasis on using diplomatic channels to resolve territorial disputes “highlights our unwavering commitment to peaceful and lawful means of protecting our interests.”

“The message that the Philippines cannot yield or waver in its stance is crucial for maintaining our national pride and asserting our rightful claims,” he added. Jovee Marie N. Dela Cruz

‘Strong economy FMJr’s biggest achievement’

By Jovee Marie N. dela Cruz @jonlmayuga

TRANSFORMING the Philippine economy into the strongest in Southeast Asia is the “crowning achievement” of President Marcos’s administration in his second year as Chief Executive, Speaker Ferdinand Martin Romualdez said on Tuesday.

“Despite numerous challenges at home and abroad, President Marcos has revitalized the Philippine economy, lifted many Filipinos out of poverty, and boosted commerce, which has enhanced livelihoods and created jobs for Filipinos,” said Romualdez.

“Our economic growth is nothing short of astounding, and the administration’s infrastructure development and social amelioration programs have ensured that ordinary Filipinos benefit from the nation’s progress. This is the benefit of the Bagong Pilipinas campaign: that the common people experience the development we have achieved in recent years,” he added.

He noted that the country has surpassed Vietnam as the fastest-growing economy in Southeast Asia, as recognized by international financial institutions such as the Asian Development Bank (ADB), the International Monetary Fund (IMF), and the World Bank.

“The economic achievements of our country under the leadership of President Marcos are spectacular, and this

is noted by many financial institutions worldwide. Our economic growth not only surpassed that of our regional peers, but also made the country a major player in the global economy,” Romualdez said.

During the first quarter of 2024, the economy grew by 5.7 percent, the same as in Vietnam, outpacing major economies such as China, Indonesia and Malaysia.

That growth is attributed to the industry’s expansion from 4.1 percent to 5.1 percent and the recovery in exports from 1.1 percent to 7.5 percent. Romualdez said that inflation has started to ease, the country’s fiscal management has shown significant improvement, and the decrease in the deficit-to-GDP (gross domestic product) ratio, as well as the increase in government collections, are proof of the sound economic policies of the Marcos administration.

For his part, Camarines Sur Rep. Luis Raymund Villafuerte said that President Marcos was being modest in

noting the healthy signs of recovery of the country’s economy, “because the truth is that the IMF sees the Philippines as the second fastest-growing one in Asia, with a GDP expansion of 6 percent this year and 6.2 percent in 2025.”

In its latest World Economic Outlook report, the IMF said only India is faster than the Philippines, with a GDP growth forecast of 7.5 percent.

Villafuerte said the country’s growth forecast for 2024 is faster than China’s and Indonesia’s 5 percent, Malaysia’s 4.4 percent, Kazakhstan’s 3.5 percent, Iran’s 3.3 percent, Thailand’s 2.9 percent, Egypt’s 2.7 percent, South Korea’s 2.5 percent, Pakistan’s 2 percent, Saudi Arabia’s 1.7 percent, and Japan’s 0.7 percent.

Citing ADB, Villafuerte said he sees the Philippines and Vietnam as the fastest-growing economies in Southeast Asia in 2024 and 2025, ahead of Indonesia, Malaysia, Singapore, and Thailand.

‘Walk the talk’

IN Davao meanwhile, a consumers’ organization challenged Marcos to “walk the talk” this time after seeing some hope in the President’s State of the Nation Address on Monday.

Ryan Amper, convener of the Davao Consumer Movement (DCM) based in Davao del Norte, that his organization saw some hope in the Sona after Marcos “mentioned things like he was asking Congress to look at the Epira [Electric Power Industry Reform Act of 2001], and some of his economic plan quite fit some of what we were expecting from his speech.”

“But like the promises he made in the past, we hope that this time these

things would have some concrete action,” he told BusinessMirror.

“Filipinos are ready in crisis situation that needs urgent attention, not talk.”

Before Marcos delivered the Sona, the DCM said it expected concrete solutions to the pressing issues affecting the daily lives of Filipinos. “Foremost are the soaring prices of rice and other basic commodities which have severely strained household budgets and impacted the quality of life for many families.”

“We seek reassurance that measures will be implemented to stabilize and reduce these prices, ensuring that essential goods remain affordable,” the DCM added.

Amper said the DCM would watch out for Malacanang if it would outline specific strategies “such as increasing local agricultural production and improving the supply chain that would lower prices, alleviate the immediate financial pressure on households, and ultimately contribute to long-term economic stability.”

“Additionally, there is an urgent need to address the power crisis in Davao del Norte brought about by the inefficient service of the Northern Davao Electric Cooperative [Nordeco]. Frequent power outages and unreliable electricity supply have not only inconvenienced residents but also hampered local businesses and economic activities. DCM wants immediate and effective interventions to improve the power situation in the province; after all, consistent power supply plays a critical role in supporting economic growth and quality of life,” he added. With Manuel Cayon

ECCP to govt: Support EV industry

By Andrea San Juan @andreasanjuan

THE European Chamber of Commerce of the Philippines (ECCP) is urging the government to “place great emphasis” on advancing the electric vehicle (EV) industry.

“The Chamber encourages the government to place great emphasis on advancing the electric vehicle [EV] industry in the Philippines and establishing a reliable EV charging station network,” ECCP said in a statement.

To promote sustainable transportation practices, the ECCP said it is “imperative” to establish targeted tariff policies that incentivize the adoption of electric vehicles.

This, the chamber said after President Marcos placed emphasis on sustainable development and responsible economic growth during his third State of the Nation Address (Sona) on Monday, which ECCP said are priorities that align with the business group’s advocacy of creating a business environment that “fosters competitiveness while contributing to a greener and more inclusive Philippines.”

Moreover, the chamber is urging the “swift passage” of the mining fiscal regime to attract more investors and enhance the Philippines’ capacity to “significantly” contribute to the global Critical Raw Materials (CRM) market.

In its 2024 policy papers, the ECCP noted it strongly supports the plan to lift the tariffs on imported EVs, including hybrid electric vehicles (HEVs).

“To help encourage the adoption of electric vehicles in the Philippine market, the Chamber and its Automotive Committee strongly support the plan to lift the 30 percent duty on imported electric vehicles,” the European chamber said.

Following the issuance of Executive Order 12, which temporarily modifies import duties on EVs, parts, and components, ECCP said, “We advocate for a broader scope in tariff removal. The ECCP Automotive Committee strongly urges the extension of tariff exemptions to cover all types of EVs coming from all countries.”

The scope should include twowheelers and buses as well as more than four-wheelers such as trucks, said ECCP. The chamber also underscored the need for an “extended elimination of EV tariffs spanning at least eight years,”saying this would give ample time for alignment of EV development and “maturity” of charging station infrastructure. Apart from programs aimed at advancing the electric vehicle industry, the ECCP said it is looking forward to seeing “more tangible results” soon with the administration’s investment-led growth strategy and ongoing roadshows. ECCP said it commends the government’s recent reforms and initiatives aimed at enhancing the overall business environment particularly the implementation of green lanes which has facilitated around 100 projects worth approximately P3 trillion, focusing on renewable energy, digital infrastructure, food security, and manufacturing.

Blinken, Austin to visit Manila, Tokyo for fresh ‘2+2’ meetings

By Malou Talosig-Bartolome

THE United States’ top diplomatic and defense oﬃcials are coming to the Philippines next week to meet their Filipino counterparts and discuss wide range of bilateral strategic issues including the West Philippine Sea and boosting economic cooperation.

US State Secretary Antony Blinken and Defense Secretary

Lloyd Austin III will embark on a multicity Asian trip that includes Manila on July 30 for the socalled 2+2 Ministerial Dialogue. They will meet their Philippine counterparts, DFA Secretary Enrique Manalo and DND Secretary Gilberto Teodoro Jr.

2+2 is a new format for a bilateral meeting that includes foreign affairs and defense ministers of two countries.

Prior to their trip to Manila, the two US ministers will also have a separate 2+2 Ministerial Dialogue with Japanese Foreign Affairs Minister Kamikawa Yoko

Mass relief, shuffle of Davao PNP goes on

By Manuel T. Cayon @awimailbox

DAVAO CITY—The mass relief of police officers and personnel has been reported anew here, with 75 of them relieved this time of their protection duty to Vice President Sara Duterte, a ranking police official told a local daily newspaper.

The Mindanao Times, the oldest existing newspaper in the city, quoted one Col. Raymund Dante

Lachica, chief of the Vice Presidential Security Group, as saying on Tuesday that 75 police personnel assigned to Duterte “were relieved of duty without prior notice”.

“Among those relieved were 33 close-in security personnel who had served Duterte since her time as mayor,” Lachica told the Times.

The rigodon was first reported in May when 37 policemen, including six station commanders and the chief of police, were relieved and reassigned elsewhere in the

region. On July 8, some 19 officers and personnel were again relieved and two days later, three colonels took turns as chief of police in a span of one day.

Lachica’s disclosure came after the internet rumor vine repprted unnamed police sources saying that 45 police officers and some others would be reassigned to Camp Crame headquarters.

The Mindanao Times quoted Lachica as saying that the relief of the 75 PNP personnel “happened

BI sets visa revocation during Pogo phaseout

Sandoval said.

THE Bureau of Immigra-

tion on Tuesday said it is ready to revoke the visas issued to around 20,000 foreign nationals working in online gaming companies following the decision of President Ferdinand Marcos Jr. to shut down all Philippine Offshore Gaming Operators (Pogos) by the end of the year.

and Defense Minister Kihara Minoru.

Austin and Kihara will then be joined by South Korean Defense Shin Won-sik for their first ever Trilateral Ministerial Meeting.

Last month, Manalo and Teodoro also had a 2+2 Ministerial Meeting with the Japanese foreign and defense ministers in Manila. (See related story: https://businessmirror.com. ph/2024/07/09/rp-japan-eyeexpanding-defense-ties-withus-australia/)

The Philippine DFA said the four ministers are expected to discuss how to further enhance

yesterday (Monday) and even I was surprised”.

“Hopefully VPSPG will still be intact and will not compromise the security of VP once ‘ma integrate kami’ totally in the Presidential Security Command,” the Times said quoted Lachica saying.

Regional Police spokesman, Maj. Catherine dela Rey did not comment on Monday’s relief, saying she was not the spokesman of the PSPG. She was yet to comment on BusinessMirror’s inquiry if there was any movement or reassignment of police within the Davao Regional Command.

the Philippine-US defense alliance “while enabling a common program in support of the rulesbased international order, enhanced economic ties, broadbased prosperity, and solutions to evolving regional and global security challenges.”

In a separate statement, the US State Department said the South China Sea disputes will be in the agenda.

“They will discuss ways to deepen coordination on shared challenges, including in the South China Sea, and advance our bilateral economic agenda,” the State Department said.

Blinken and Austin will also

meet with President Ferdinand Marcos Jr. “to explore additional ways to capitalize on the unprecedented momentum in the United States—Philippines alliance.”

This is the fourth time the four ministers are meeting on a 2+2 format. The first three were held in Washington D.C. At the last 2+2 Dialogue, the ministers affirmed full support for international law, modernizing shared defense capabilities of the alliance, advancing economic and environmental security, and cultivating the vibrant and robust people-to-people ties between the two countries.

Peza: Create More law to put PHL on par with Asean peers

THE Philippine Economic Zone Authority (Peza) said it is looking forward to the passage of the Create More bill as this measure will put the Philippines on a par with its neighbors in Asean in terms of gaining benefits from investments secured.

“The most important aspect of the Sona for Peza was the President’s commitment to pass the Create More Bill which will generate more benefits for potential Foreign Direct Investments (FDIs) entering the Philippines,” Peza Director General Tereso O. Panga told reporters in a statement on Tuesday.

year—from domestic and international travelers—which represented over 91 percent of the P3.7-trillion total receipts in prepandemic 2019. The data also showed the sector employed 6.21 million Filipinos, with its share to total employment having reached 12.9 percent in 2023. Pre-pandemic, tourism employment was estimated at 5.71 mil-

Asked whether these foreign nationals will be given time to voluntarily leave the country once their visas are cancelled, Sandoval said the BI will issue an advisory with regard to the process in the coming days.

“Those who applied for a working visa are in our database, so we would be able to extract them,”

BI spokesman Dana Krizia Sandoval said 70 percent of those with working visas are Chinese nationals while 30 percent are of various nationalities.

lion, with a 13.5-percent share to total employment.

Diversify products

HE cited the need to diversify the country’s tourism products in response to changing traveler preferences. “The tourism challenge…now requires a multifaceted strategy. The focus now is on experiential tourism; food culture, heritage, the arts, education, halal, Islamic traditions, dive, cruise, farm and eco-tourism; even sports have

based, and holistic approach to energy planning, that considers the three main links to the energy supply chain: supply, bulk transmission, and retail distribution,” Alabanza added.

Rubio, also the president of Pangilinan-led SP New Energy Corporation (SPNEC), agrees that the energization of the “unified Philippine grid” is a milestone not just of the industry but of the country.

While having sustainable, reasonably-priced, and reliable power for all Filipinos remains a commitment in this year’s

SONA, the ICSC official pointed out two things: “What we ultimately need is to source power from indigenous and readily available sources, and to immediately move away from a baseload-centric, fossil-fuel centered power system.

While the ambition to increase renewable energy in the mix, as indicated in the Philippine Energy Plan, looks promising, the continued prevalence of fossil fuel operations can still drive up the cost of electricity and set back true progress,” Dela Cruz said.

The Energy Regulatory Commission (ERC), meanwhile, commented that the agency already has more than 20 years of experience and data from the implemen-

Meanwhile, BI Commissioner Norman Tansingco expressed support for President Marcos’s decision to ban Pogos which he announced during his third State of the Nation Address delivered on July 22.

Tansingco said he shares the President’s view that the social costs of online gaming companies outweigh its benefits.

He said the BI will coordinate

now become potent subjects and products of a nation’s tourism.…

We must not rest content to have just one, rather, we must seek the optimal number of high-quality products and services, which at the same time, showcase our community’s distinctive history, traditions, and talents. Filipino creativity and ingenuity will enliven and unlock the as yet untapped potential of these new facets of Philippine tourism.”

PSA data showed the tourism sector contributed an 8.6-per-

tation of Epira that can be used to review and improve on the law.

“From the side of the ERC, we have proposed measures to strengthen the regulator to cope with the changes in the industry, address delays in regulatory processes and increase transparency and accountability in governance. All these will increase confidence of investors in the sector, increase supply and competition which will result in lower power rates,” said ERC Chairperson Monalisa Dimalanta.

Aboitiz Power

ABOITIZ Power Corporation also supports the President’s call for greater innovation in the country. He has mentioned the use

with the Philippine Amusement and Gaming Corporation (Pagcor) and the Department of Labor and Employment (DOLE) for the cancellation of permits issued to online gaming companies and its foreign employees.

As a result of the cancellation, the BI will also rescind visas granted to said foreign nationals.

He said the bureau has already deported more than 2,300 working in scam hubs operating in the guise of gaming companies.

Joel R. San Juan

cent share to the country’s local economic output, as expressed in the gross domestic product, compared to a 12.7-percent share in 2019.

Visitor arrivals reached 5.5 million in 2023, some 34 percent less than 2019, when the country’s foreign travelers headcount reached an historic-high of 8.3 million. Domestic travelers, on the other hand, hit 119.7 million last year, close to 98 percent of the 122.12 million who traveled in 2019.

of solar PVs to power irrigation and even schools, reducing some dependence on oil.

“The Company advocates for such an energy system, where technologies, artificial intelligence, and data innovation are harnessed to take advantage of indigenous sources of power and maximize existing generation facilities,” the power firm said in a statement.

In recent months, Aboitiz Power and its partners have been innovating its fleet of power generation assets to enable more efficient operations. This includes initiatives to develop digital twins for the Therma South and Therma Visayas power plants and efforts to complete a binary geothermal facility in Tiwi, Albay.

More investments in the economic zones across the nation, Panga stressed, means more jobs being generated for Filipinos.

The Create More bill aims to enhance and iron out the inconsistencies in Corporate Recovery and Tax Incentives for Enterprises (Create) Act, a menu of tax incentives which took effect in April 2021.

During his third State of the Nation Address (Sona), President Ferdinand R. Marcos Jr. said, “The rationalized incentives scheme under the Create Act has also made possible the generation of investments amounting to more than one trillion pesos, and more than a hundred thousand new jobs.”

Marcos said this “promising state of affairs is now beckoning us to create more—through the passage of the Create More Act.”

The measure, Panga added, will “accelerate our country’s bid to graduate to upper middle income economy as we position the Philippines as the smart investment choice in the region.” Last week, Senate President Francis Escudero said the bill is a priority of the President. He said, “I had a meeting with [Finance] Secretary [Ralph] Recto and he told me that the version of Secretary [Frederick] Go which is sometimes different from the DOF… has been reconciled.”

The Senate President said they expect to file the Committee report or the reconciled version of all the agencies of the government, which he said “will now fast-track this bill,” adding that this may also be done by this week. Apart from PEZA, several business and industry groups have cited the need to amend the Create Act.

For one, the Semiconductor and Electronics Industries in the Philippines Foundation Inc. (Seipi) President Danilo C. Lachica told reporters recently that Seipi backs the removal of value-added tax (VAT) on constructive exports.)

Aside from CREATE More, PEZA highlighted other key initiatives which the president highlighted in his Sona, which the investment promotion agency is banking on.

“PEZA is thankful to the President for addressing some of the pain points of our locators like the imposition of unnecessary tariffs by LGUs on use of National Roads by businesses,” said Panga. Andrea E. San Juan

The Peza chief said this was the “most crucial of all as it will enable Peza and other investment promotion agencies (IPAs) to deliver on the President’s promise of creating a conducive business climate for investors that can compete” with the Philippines’s neighbors in the Asean.

The Governance Commission for GOCCs (GCG), the Office of the Government Corporate Counsel (OGCC) and the Commission on Audit (COA) were also consulted by the DOF if the process of remitting idle funds to the Treasury is legal.

“Angbaliksaaminngtatlongahensiya ngpamahalaan,legallahatito[The three agencies of the government replied to us that all of these are legal],” Recto said.

The redirection of idle funds will not addup to the government’s fiscal deficit and further swell the P15 trillion outstanding debt, he assured the public.

Moreover, PhilHealth and PDIC have

the highest amount of idle funds while it is possible that other state-run corporations might have as well, but not that much. For next year, Recto said the DOF and the Department of Budget and Management (DBM) do not see that unprogrammed funds will increase. Earlier this year, the DOF issued Circular No. 003-2024 to redirect the excess funds of GOCCs to finance unprogrammed appropriations, such as foreign-assisted projects and other infrastructure projects.

However, medical groups denounced DOF’s diversion of funds and violated Section 11, or the provision that no portion of the reserve fund or income thereof shall accrue to the general fund of the National Government, of the Universal Healthcare Act (Republic Act 11223).

12.

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14. GONG, SHAOFENG Chinese Customer Service Representative

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15. HONG, JINTA Chinese Customer Service Representative

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functions and areas of improvement. Prepare reports, proposals and presentations.

16. XU, QINGXUAN

Chinese Customer Service Representative

Brief Job Description: Conduct research to understand the company functions and areas of improvement. Prepare reports, proposals and presentations.

17. XU, YUHENG

Chinese Customer Service Representative

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Chinese

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WU, XINGEN Project Coordinator

39.

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and Outlook.

Salary Range: Php 30,000 - Php 59,999

Basic Qualification:

BusinessMirror

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ABBOTT LABORATORIES 8th & 9th Floor Venice Corporate Center,, Turin Street, Mckinley Town

ACSTREAM MANAGEMENT INC. 9/f Sterling Centre,

52.

53.

ADVANCED FINANCE SOLUTIONS, INC. 20th Floor Cyber Sigma Lawton Avenue, Bonifacio

Bonifacio, City Of Taguig

54. ASHIMOV, YERNAR

Head of Key Accounts

Brief Job Description: Responsibilities for developing and maintaining strong, long-lasting relationships with key accounts. Serve as the primary point of contact for assigned clients.

Qualification: College graduate, with at least 5 years of work experience in key account management and proficient in CRM software and

AEL BUSINESS SOLUTIONS INC.

26/f Yuchengco Tower 1, Rcbc Plaza, 6819 Ayala Ave., Bel-air, City Of Makati

55. THAI BINH KHON Payments Associate (Multi-lingual)

Brief Job Description: Handling deposit/fund transfer transactions. Basic Qualification: Fluent in native Mandarin and English.

ALL ASIA STRUCTURES, INC. 156, Gozon Compound, Tonsuya, City Of Malabon

56. ICHII, SHUNSUKE Quality Assurance/Quality Control Manager

Brief Job Description: Responsible for ensuring the quality and compliance of product or process through systematic inspection, testing and documentation.

57. KOIKE, TAKAYOSHI Sales and Marketing Manager

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Salary Range: Php 90,000 - Php 149,999

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degree, at least ten (10) years of working experience, has knowledge in MS office operation, must be highly organized and systematic, ability to prioritize task and work under pressure, willing and be able to travel any point of Luzon, Visayas, and Mindanao, proficiency in English and Japanese.

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95. SRI HIDAYAT SUKANTA Head of Operations

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96. SAYED MAKSALMINA Head of Warehouse and Logistics

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100. WU, PENGFEI Assistant Project Manager

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101. CAI, WEI Site Technician

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102. GENG, JUN Site Technician

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COGNIZANT TECHNOLOGY SOLUTIONS PHILIPPINES, INC. 2nd, 3rd, And 4th Floors, Science Hub Tower 4 Bldg., Mckinley Hill Cyberpark, Fort Bonifacio, City Of Taguig

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TM Supervisor

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Chinese Customer Service Representative

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CHI, YA-CHUAN

Chinese Customer Service Representative

141.