OCTOBER 2016
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Philippines set meeting with climate vulnerable countries
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he Philippines met for the first time with more than 40 other climate vulnerable countries under the Duterte administration, which vowed not to ratify a global climate change accord. Finance Secretary Carlos Dominguez attended the ministerial dialogue of his counterparts in the Vulnerable 20 (V20) Group of Nations at Washington D.C. “The event will present updates on key initiatives launched by the V20, including the Global Preparedness Partnership (GPP). It will also facilitate the sharing of presentations from members on national experiences of climate finance,” the group said on its website.
On their last meeting in March, V20 nations expressed support to a new climate change deal made in Paris that aimed to limit global warming. This was, however, before President Duterte said he would not honor the agreement, which he said could limit the country’s industrialization effort. As a result, the Senate did not ratify the deal. It will also mark the turnover of the group’s chairmanship from the Philippines to Ethiopia. V20 has expanded to cover 43 countries. Last March, V20, led by the Philippines, agreed to charge each other for the amount of carbon they emit
over the next decade. A group was established to gather best practices on carbon pricing and see its viability to be implemented in member-countries. A fund pool to share climate change costs was also envisioned by 2020. V20 also signed a partnership with the World
Bank, World Food Program and UN Development Program, among others, to disburse up to $500 million in financing under the GPP. The Philippines was among the first countries selected to receive funding. (with full attribution from material earlier published from Philstar)
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27/09/2016 16:38
OCTOBER 2016
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World Bank keeps Philippine growth forecasts
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he World Bank has retained its three-year economic growth forecasts for the Philippines, but stressed these projections can be exceeded if the government can ramp up its infrastructure spending as planned and provide clarity on its economic policies. Drawing from its earlier forecast in April, the multilateral lending institution said it still expects the Philippine economy to grow 6.4 percent this year and 6.2 percent in the next two years. In its October update on the domestic economy titled “Outperforming the Region and Managing the Transition,” the World Bank said the country has weathered the challenging global economy and grown at a rapid pace over the past five years, “supported by strong macroeconomic fundamentals and a highly competitive workforce.” Domestic consumption is seen to prop up the economy driven by increased purchases from an expanding middle class, remittances from overseas Filipino
workers, and increased employment. “The economic outlook is optimistic with risks tilted to the upside,” said the report, noting “substantial” improvements in macroeconomic stability by way of low and stable inflation rates, prudent fiscal management, and comfortable level of foreign reserves. The proposed budget for 2017 would increase infrastructure spending to 5.4 percent of gross domestic product (GDP) in order to address infrastructure bottlenecks and “enhance connectivity between the country’s wealthier and poorer areas.” “This can boost a large segment of the economy including industrial activities, real estate, construction and tourism,” said the report. The World Bank said while the new administration’s 10-point socioeconomic agenda has been generally well-received as it signals continuity of the existing macroeconomic framework, the government still needs to dispel lingering uncertainty on the part
of investors by providing clarity on it development priorities. “The preliminary agenda is intended to bolster the government’s current, fiscal, monetary and trade policy stances, while prioritizing tax administration reforms. Despite these reassurances, however, a degree of uncertainty remains regarding the ultimate direction of macroeconomic policy. The short-term challenges is how to successfully manage the economic transition and providing the right signals to investors and businesses,” said the report. World Bank lead economist Birgit Hansl said the completion of the 20172022 medium term development plan for the country is expected to provide investors with direction. “Many reforms are being unveiled, specifically on tax policy and administration, the tracking of government spending, security of land tenure, ease of doing business, and restrictions on foreign participation,” she said. “But as policy details are still being discussed, some businesses might remain cautious. The completion of the new Philippine Development Plan this year will provide more clarity on the government’s development priorities and
further improve the country’s growth prospects.” The government is also pursuing a comprehensive tax reform effort that promises to make the tax system more equitable and efficient. Hansl said that while the country’s macroeconomic fundamentals remain strong, the government should also pay attention to microeconomic reforms such as improving the ease of doing business in the Philippines to sustain growth. “So here it will be really important to see what will be the priority of the new administration. Will it be trade facilitation, will it be changing how businesses operate. These involves also labour market issues,” she said. She declined to comment on prevailing labour issues but said the bank is encouraged by the ongoing dialogue on issues such as contractualisation and minimum wage setting. World Bank country director Mara Warwick said macroeconomic stability puts the Philippines in a position to accelerate inclusive growth that benefits all Filipinos. “Poverty will decline faster if the returns from economic expansion are invested in building human capital by strengthening health, education, and social protection,” she said. (with full attribution from material earlier published by PhilStar)
OCTOBER 2016
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OCTOBER 2016
Business community remains
optimistic about Duterte admin
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MID the criticisms President Rodrigo Duterte is getting from his critics, business sectors in the country believed that he has been able to make many accomplishments in his first 100 days. George Barcelon, president of the Philippine Chamber of Commerce and Industry, told reporters that three months into the Duterte presidency the business community has felt improvements in the country already. “We’re beginning to see improvements along this line. We are very positive about what we’re seeing,” Barcelon said, noting that the President had been able to deliver his promises to address the needs of the Filipino people. Donald Dee, chairman emeritus of the Employers’ Confederation of the Philippines, said that unlike the past presidents, Duterte was “serious” in addressing the problems in the country. “It was just a hundred days, I have seen presidents come and go. But the 100 days
that we are experiencing today, you know, has borne more fruits,” Dee said. Barcelon said that the reduction on bureaucracy in some of government agencies was among the current administration’s accomplishments. For his part, Dee lauded the government for the ongoing construction of the two common stations that will interconnect Metro Rail Transit (MRT) Line 7 with Light Rail Transit Line 1 and MRT Line 3. “We have begun to see the positioning or the realization of the station – the central station for the MRTs and LRT. And this has been a problem that we have been facing for the past four years – even for the past seven years actually,” Dee said. “I remember, it was approved in the [Arroyo] administration. It was talked about for six years and precisely not to criticize the past administration, why this new administration is serious because the past six years, you know, a time of talking and very little less in implementation,” he added.
As for the government’s campaign against illicit drugs, Barcelon said it was “reasonable” for Duterte to seek a six months extension to be able to curb the drug sale. While Barcelon acknowledged the President’s accomplishments, he admitted that first three months in office is “really a very short time” to determine Duterte’s success. He also noted that even some business companies were not satisfied with what the Duterte administration had so far achieved. “People talked about they haven’t seen any impact to this government… But I would tell my friends in the business community that we have to be patient. We have been patient before in previous administration. I think we owe it to this government that they’re only in for three months and we would like to give them more time to work out things,” Barcelon said. Barcelon likewise confessed that some had expressed concern over the President’s remarks that made international
headlines but said that he had told them that what was more important is that Duterte “loves his country and his people.” Dee said Duterte was merely provoked to make statements against his critics because of “his desire to see his objective done and done soonest.” “What he is saying is, you know, this is the eye of our problem. You take this cancer out,” Dee said. “We know that and maybe the President is too transparent. But at least why are we so supportive? Because what you see is what you get.” Barcelon said the public should also help the government to move the country forward and achieve the changes it wants. “I think it’s a partnership, not just rely too much on the government but we, as private citizens, as businessmen, we have to do our part also,” he said. (with full attribution from material earlier published by from Sunstar)
OCTOBER 2016
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OCTOBER 2016
orking abroad can be really tempting, more so when people consider living in the Philippines, where the minimum wage is low, taxes are high, and jobs are hard to come by. It’s no surprise that a tenth of our population has chosen to walk the path of an overseas Filipino worker (OFW), despite the emotional toll of being away from their family. But the OFW life is no shortcut to success. Despite the higher wage they get abroad, many OFWs come home emptyhanded, some even poorer than before they left. Poor financial literacy is usually the cause, according to Vince Rapisura, wealth expert and president of the Social Enterprise Development Partnerships, Inc. Leaving without a proper financial plan, many OFWs tend to overspend and overstay abroad. How can OFWs better manage their finances and reach their financial goals faster, thereby be able to come home sooner? Here are some tips from Vince: Set your goals According to Vince, economic migrants should make it a goal to be able to come back within 10 years. OFWs should ideally go through the following migration process: • Beginning stage (1-2 years) - For the first two years, the migrant should work on paying off the debts he/she incurred to be able to work abroad. (ie. money spent for plane tickets, processing fees, etc.) • Medium term (2-3 years) - During the medium term, the migrant’s focus
Don’t want to be an OFW forever? Follow these 5 money tips should be to provide for his/ her family’s basic needs. • Long term (3-5 years) The migrant’s last years, meanwhile, should be spent for their financial goals like being able to buy a house, open a business, among others. Before you start packing your bags, it’s also important that you and your family understand why you have to leave and what you are trying to achieve. Just as important is being able to stick with your goals. “When they go there, initially they say, ‘I only want a tricycle as a business,’ and send my children to school.’ After 5 years and they’ve already attained that, the goal would shift somewhere else. Maybe the tricycle is now a jeepney, and sending the children to school is finished and now they want to put up a house,” Vince explained. Changing goals is not necessarily a bad thing, but having no definite end-goal contributes to OFWs overstaying abroad. Budget your money When it comes to budgeting your money, Vince suggests that OFWs follow the 5-1520-60 budgeting rule, with 5% of income going to insurance premium, 15% to savings, 20% to investments, and 60% to expenses. You can learn more about this formula here: Filipinos also tend to mix financial decisions with emotions. This is a problem because rationality is necessary when making these decisions – something we lack when we are in a highly emotional state. One of these emotions that prevents us from making ratio-
nal financial decisions is fear, specifically the fear of not being loved - a common distress for OFWs. Many OFWs fear that their children or spouses would love them less if they fail to send remittances to buy the things they want. In some cases, some relatives threaten OFWs with emotional blackmail. According to Vince, it’s important that we teach our family to be independent and make them understand that reaching their financial goals requires a collective effort. Clear your debts Borrowing money is common among many Filipinos and OFWs are no exemptions. Many OFWs leave to be able to pay for their loans or borrow money in order to finance their move overseas. With loans hounding them, OFWs fail to save and often end up overextending their stay abroad. As a guideline, Vince suggests you follow these cardinal rules on borrowing money: 1. Borrow money only when you plan to use it for productive purposes. This means using the money to finance something that creates income. 2. Income from this project should be greater than the interest you will pay. 3. Installment amount should not exceed 20% of your regular income. 4. Do not borrow to finance wants. To be able to buy the things you want, save for it or create an investment portfolio that will provide you with a passive income. 5. Lastly, borrow only from formal financial sources. This way, you can take advantage of lower interest rates and establish your credit history. Burdened by debts? No
worries, it’s still not the end of the road for you. But not all debts are bad. If you do it right, loans may help you reach your financial goals faster. Watch this video to find out which debts are good and which are bad: Invest! Invest! Invest! Investing your money can help grow it even further and help you reach your financial goals even faster. According to Vince, one thing that hinders many Filipinos from investing is the thinking that investing requires a big amount of money. This is not true. You can start investing with small amounts by simply opening a savings account. As you get more money using your active income (salary, commission, etc), you gain the propensity to invest in other investment vehicles. While many OFWs do invest, a lot also do not invest in the right places - often falling victim to investment scams. The key is to be patient. Carefully research before investing your money. The bottom line: The OFW life is not a sure recipe for fortune. Whether your sacrifices take you to success or not will depend not only on how hardworking you are but also on how smart you are in managing your money. Do it right and you’ll finally be able to be with your family again without financial problems haunting you every day. (with full attribution from material earlier published from Rappler)
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07/10/2016 16:05
OCTOBER 2016
610
Brexit negotiations to begin by March 2017
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HERESA MAY has ended weeks of speculation and revealed that she will launch formal Brexit talks with EU leaders before the end of March 2017. The Prime Minister will trigger Article 50 of the Lisbon Treaty early next year, sparking the start of a two-year countdown within which time a withdrawal deal with the EU must be agreed. The Conservatives confirmed they will also introduce a “Great Repeal Bill” designed to end the EU’s authority in the UK on the first day of Brexit. The twin announcements, putting flesh on the bones of how the UK will tear itself away from the EU, have already seen an intensification of the internal Tory battle to steer Brexit negotiations. May said she believed it was important to have a deal in place with the EU, hinting that was preferable to a so-called ‘hard Brexit’ in which the UK leaves the bloc without a formal deal
in place for a continued trading relationship. Ministers had faced constant questions over Article 50’s triggering, while several foreign politicians reported being told by Ms May that it would be in early 2017. Ms May said Parliament would be kept informed, adding: “This is not about keeping silent for
two years, but it’s about making sure that we are able to negotiate, that we don’t set out all the cards in our negotiation because, as anybody will know who’s been involved in these things, if you do that up front,
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or if you give a running commentary, you don’t get the right deal.” But Tory former minister Anna Soubry, who is on the liberal pro-Europe wing of the party, said triggering Article 50 so soon “really concerns” her and warned that the EU “holds all the cards” in the negotiation. “We’re going to get something worse, obviously we are, and we don’t hold the cards, the EU does.” Labour shadow minister Jon Ashworth joined Ms Soubry in calling for more clarity over the Government’s Brexit strategy. He said: “Theresa May said she was providing ‘clarity’ but that’s exactly what we aren’t getting from the Tories. There were very few answers from her either on the big questions facing us. (Splash ‘Pinas original article)
OCTOBER 2016
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Excellent trust rating affirms people’s faith in Duterte
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hilippines President Rodrigo Duterte has been rated “very good” in an opinion poll on his first 100 days in office, which has been defined largely by his war on drugs and vitriol against Western leaders. Only 11 percent of 1,200 Filipinos surveyed by the Social Weather Stations (SWS) agency said they were dissatisfied with his performance. That gave Duterte a net satisfaction rating of 64 percent, getting him off to a better start than predecessors Benigno Aquino, Joseph Estrada and Gloria Macapagal Arroyo, but short of the 66 percent achieved by Fidel Ramos in 1992. On a similar poll by Pulse Asia on October 12, most Filipinos said they trust President Rodrigo Duterte and were satisfied with his performance in the first 3 months. Up to 86% of the total 1,200 respondents in the poll conducted from September 25 to October 1 said they have a “big trust” for Duterte. The same percentage said they “approve” of his performance. There were separate questions measuring the trust and performance ratings of the President. Only 3% said they have “small or no trust” for the President. The same percentage said they “disapprove” of his performance. The rest were undecided. The Pulse Asia survey results are consistent with the results of a survey by another polling firm, Social Weather Stations (SWS), on similar questions on trust and performance. Political analyst Nelson Navarro said the SWS survey suggested Filipinos felt safer because
Duterte had followed through with his promised war on crime and drugs. He said Duterte’s abrasive style and his sometimes p r o f a n e outbursts a g a i n s t the United States, European Union and United Nations were not discrediting him either, and supporters would rally in his defense amid criticism at home and abroad. “This is not going to be good manners and right conduct. What you see here is exactly what you get. His tough stance has gained him popularity across the Philippines,” Navarro said. The SWS poll considers a net approval rating of over 70 percent as “excellent” and 5069 percent as “very good”. Duterte’s approach to the war on drugs may come as a shock to the international community but the president is a breath of fresh air for many Filipinos, who say “some action is better than no action”. Bong, 31, from Cebu said: “I think it’s good that he is addressing issues like crime, drugs and corruption. I used to worry about getting robbed downtown but it’s much safer now to walk around.” Ferdinand A Almoradie, who lives in Cagayan de Oro, says drugs were frequently sold near his home. “You could buy them on the roadside as easily
as you would buy rice,” he said. “Duterte has accomplished a lot and is the right leader to serve and protect the integrity of all Filipinos. I hope that one day the Philippines will be a drug free country so that my children and grandchildren can feel safe.” According to European Union ambassador to the Philippines Franz Jessen, moving the peace process with leftist rebels has also been an important breakthrough of President Duterte in his first 100 days. The incidence of criminality has, predictably, markedly dropped, especially in urban areas. Filipinos today generally feel safer as they walk the streets. And never before have the country’s leaders seen such great progress in the peace process with the National Democratic Front and the Communist Party of the Philippines. Rebel leaders claim to be seeing a level of seriousness and sincerity on the part of Duterte’s government not seen in prior administrations. In fact, as part of Duterte’s approach to inclusive government, he appointed
several nominees from leftist militant groups to occupy key cabinet positions, from agriculture to social services. If we were to sum up Duterte’s first 100 days in a few words, it would be “strong political will.” “One hundred days passed very fast, lots of changes, new policies, new language, and many interpretations of statements and developments,” said ambassador Jessen in his open letter posted on the Facebook website of EU in the Philippines. In his assessment of Duterte’s first 100 days, Jessen said “the ongoing peace process remains an area where President Duterte may have an early and very important breakthrough.” He said talks between the Philippine government and rebels continue in Norway. “We all hope that an agreement will soon be reached between the different parties, so that needed peace and stability in Mindanao can be used as a basis for further developments in Mindanao and the Philippines.” (Splash Philippines original article)
OCTOBER 2016
The Persimmon Studios, Mabolo, Cebu
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The Persimmon Studios Model Unit
World-class Residential Living for the Global Filipino Working abroad is never an easy feat. For most of us Filipinos, living overseas means being miles away from family and friends; from familiar places and faces; spending years of sacrifice all for the comfort of the people we love. Behind the beautiful streets of London and everything characteristically British, we remember the warm smiles of the people waiting for us at home, anticipating our arrival. Truly, the heart of the Filipino people is felt in the simplest moments of kindness and genuine hospitality; in jovial celebrations and family festivities. As shared by a majority of Pinoys abroad, there’s no better place in the world than home. Offering a consistent brand of quality residential developments for the Global Filipino, AboitizLand, Cebu’s premier homegrown real estate developer, believes in the significance of building priceless memories with the people who matter most.
it provides access to everything you need. Ajoya, located at Cordova, Cebu City, is a gated community with homes taking inspiration from the best of Filipino architecture. This vibrant community has shared spaces and amenities that encourage neighborly interactions, foster friendships and child’s play. Almiya, located in Canduman, Mandaue City, is a gated community with constantly well-maintained surroundings and facilities, with fully detailed house and lot units, and amenities perfect for every family. Almiya, Mandaue City, Cebu Amoa, located in Compostela, Cebu City, is a premier mid-end horizontal village, offering wide vistas, networked open areas and rain gardens. Houses are inspired by traditional Filipino architecture fused with a modern minimalist design. With customizable ventanillas, homes perfect for growing families.
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OCTOBER 2016
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“It’s Showtime” marks seventh anniversary with world-class talents
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ET READY for a whole month full of surprises as the most widely watched Filipino variety-game show in and outside the Philippines, “It’s Showtime,” marks its seventh anniversary this October. “It’s Showtime” kicked off its celebration with the hosts’ performance together with the show’s homegrown talents who have become sources of Filipino pride because of their achievements in other parts of the world: shadow play group El Gamma Penumbra; girl group 4th Impact; dance group XB Gensan; and Journey vocalist Arnel Pineda, to give viewers a taste of what they should anticipate from the month-long celebration. On the first week, the nation’s most talented singers clashed in the highly anticipated Quarter 3 Semi-Finals of “Tawag ng Tanghalan.” Representing Metro Manila were Balla-dearest son of Baclaran Rufino Robles, Sis-pectacular Songtress of Makati
Jennie Gabriel, and Virtual Effects Artistahin of Quezon City Christopher Rodrigueza. Luzon semifinalists likewise fought for their place in the finals: The Super-Lolovable Singer of Rizal, Antonio Sabalza and the Unstoppable sa Galing of Bulacan Eumee Capile. The Bukid Boy Wonder of Negros Occidental, Noven Belleza, was the sole representative from Visayas. Another highlight to look out
for in the second week of the anniversary month are the “It’s Showtime” champions who will once again impress the madlang people. Showcasing their talent and charm are the grand winners from “Magpasikat”, “Kalokalike,” “That’s My Tomboy,” “I Am PoGay,” “Funny One,” “Mini Me,” “Stars on 45,” and other competitions in the past seven years. Showcasing their talent and charm are the grand winners
from “Magpasikat”, “Kalokalike,” “That’s My Tomboy,” “I Am PoGay,” “Funny One,” “Mini Me,” “Stars on 45,” and other competitions in the past seven years. Not to be outdone are the hosts of the program who will pull out all the stops in the third week of October to entertain viewers in their annual contest “Magpasikat Week.” Watch out for the spectacular performances of Anne Curtis, Vice Ganda, Vhong Navarro, Billy Crawford, Karylle, Amy Perez, Joey Marquez, Jugs Jugueta, Teddy Corpuz, Ryan Bang, Jhong Hilario, and Kuya Kim Atienza, together with the Hashtags and Girltrends, as they pour their heart and skills into what they call, “the best performance of their lives.” Meantime, more surprises are in store for the solid Showtimers in the last week of October.
(with full attribution from material published by TFC)
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OCTOBER 2016
China vs The Philippines in the South China Sea, How does this relate to the overseas Filipino worker WRITTEN BY GILBERT TEODORO
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ast year Overseas Filipinos sent home an estimated US$ 29.7 Billion, making the Philippines the third highest in the World in overseas workers’ remittances following India and China. The UK has an estimated 250,000 Filipino migrants who sent back US$1.4 Billion. The World Bank estimates OFW remittances to be 10.3% of GDP in 2015 from 1.7% in 1975. Last year’s Government Budget was 2.606 Trillion Philippine Pesos or US$54.6 Billion. These numbers show the extent of overseas Filipinos investment in the Motherland. Sadly, much of the investment is consumed rather than used for productive capital investments. Indeed, the Philippines touts its desirability as a destination for BPO’s, call centers, and other services, but is sadly laggard in both domestic and foreign direct investments in manufacturing, infrastructure, and most importantly in innovation and R&D. Among the reasons for this situation are the absence of adequate infrastructure, punishing power costs, an ineffective and centralized bureaucracy, corruption, peace and order challenges, and an educational system which sorely lacks quality research. The Philippines has been unable to develop strong institutions-it is a weak State. I believe that much of the blame must go to the desire to develop a ro-
must, on the other hand, build strong institutions of state governance. This will need a refocusing of fundamental norms. In education, for example, competence must be the highest and primary goal, although many will dispute this and say love of country must come first. Sadly, love of country has
upon to spearhead this task. The late Minister Mentor Lee Kuan Yew of Singapore placed a premium on government service and invested accordingly to recruit, school, and retain the best and the brightest. The Philippines, on the other hand, appeals to patriotism, and continues with the outdated and
human capital to current and emerging users. In Asia we are the good boy in the neighborhood who can be bullied and pushed around. The reason, as stated before, is the failure to use and deploy our resources properly in order to create a strong modern state. Being a strong state does not necessar-
also been the byline of despots and tyrants, and has been the basis of a policy of rent seeking protectionism disguised as nationalism. The question as to the role of foreigners in bringing us to our current debacle is an open and complicated one, I am certain, however that we
worn out theory that it is a privilege to serve and that you should not be compensated for it. This belief is acceptable for some elective positions but is definitely not the way to go in order to build up an efficient career service. The weakness of Philippine in-
ily mean that we must be bristling with missiles and nuclear weapons but it does mean that we must build up a credible deterrent to those who may want to bully us, be they countries, terrorists, or even swindlers. The idea of a strong central government holding sway in a
The challenge for us now is how to transform and not merely to reform society while sustaining the momentum once changes for the better happen. mantically ideal unitary nation, with a single culture, a single language, and a common ideology. An attempt to produce Filipinos much like the way automobiles are produced-via an assembly line. This approach has been a failure and rather than trying to build a nation we
are as much to blame as any foreigner. Investment in public governance is niggardly, both in compensation and in operational and managerial infrastructure. Thus, public governance which is the cornerstone of institution building, cannot be counted
stitutions has given birth to the Overseas Filipino diaspora, it has also prevented us from being a serious force in geopolitics. Our educational system continues to underinvest in innovation and meaningful modern research and is sadly, in the main, geared toward providing
vast and diverse archipelago is perhaps THE major reason for the weakness of the Philippine State. The strong central government concept has not allowed for the different ethnic, linguistic, geographic, and climatic conditions of the different areas in the Philippines. It >>18
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OFW housholds saved more, invested less in Q3
F ilipino households receiving remittances from their loved ones abroad saved more but invested less in the third quarter, according to a survey conducted by the Bangko Sentral ng Pilipinas (BSP). Teresita Deveza, deputy director of the BSP’s Department of Economic Statistics (DES), said results of the Consumer Expectations Survey (CES) for the 3rd Quarter 2016 showed an increase in the number of overseas Filipino workers’ households allocating remittances for savings to 39.6 percent in the third quarter of the year from 38.6 percent in the second
quarter. “Overseas Filipino workers households that utilize their remittances for savings increased for the third quarter of 2016,” she said. The percentage of OFW households using remittances to save as of the second quarter was more than five times the 7.2 percent recorded in the first quarter of 2007 when the CES was launched. On the other hand, Deveza said the number of households that allocated remittances for investments declined to 3.8 percent in the third quarter from 4.5 percent in the second quarter. Despite the decline, the percentage of OFW households investing a portion of their remittances now is still better than the 2.3 percent level when the survey was first conducted.
Of the 500 households included in the survey that received OFW remittances for the third quarter, 95 percent used the remittances that they received to purchase food and other household needs. About 39.8 percent allotted part of their remittances for debt payments, while 20.2 percent used the money that they received to purchase consumer durables. Furthermore, 67.6 percent of OFW households allocated part of their remittances for education, 55.2 percent for medical expenses, 10.2 percent for the purchase of house, and 6.4 percent for the acquisition of motor vehicles. BSP Deputy Governor Diwa Guinigundo said OFW households decided to save more as the spending outlook index of households on basic goods and services declined to 27.8 percent for the fourth quarter of 2016 from 30.2 percent in the previous quarter. “This means that even as majority of respondents continued to expect higher spending on basic goods and ser-
vices, the number that said so declined compared to a quarter ago, indicating that growth in consumer spending could slow down in the near term,” he said. Guinigundo said respondents anticipated inflation to decline to 1.8 percent from 3.4 percent reflecting their lower inflation outlook over the next 12 months. “This indicates that inflationary expectations are likely to moderate over the next 12 months as the number of respondents with views of higher inflation declined compared to a quarter ago,” he said. Likewise, fewer respondents expected interest rates to increase. The 3rd Quarter CES survey also showed the confidence of Filipino consumers turned positive for the first time in nine years as the confidence index soared to a new all-time high 2.5 percent in the third quarter from -6.4 percent in the second quarter. (with full attribution from material earlier published from Philstar)
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OCTOBER 2016
DTI encourages OFWs to go into business T
HE Department of Trade and Industry regional office in Iloilo City is urging returning Overseas Filipino Workers (OFWs) or their family to visit the Negosyo Centers (NCs) and attend entrepreneurship seminars to open their minds on the opportunities that abound in their areas. DTI Regional Director Rebecca Rascon said the NCs in the region have already set up assistance desks for OFWs upon the directive from DTI Secretary Ramon Lopez following the pronouncement of President Rodrigo Duterte. Western Visayas is a rich supplier of more than 15,000 OFWs in the Middle East, Hongkong, Singapore,
Malaysia, Japan, China, United States and other countries in Asia, Europe, and Latin America. Rascon said the setting up of the OFW assistance desks is in compliance to the recent directive of the President to provide assistance to the OFWs, especially those displaced by the economic crisis in Saudi Arabia and in other countries. The President encouraged them to go into business as the government is ready to help the OFWs. DTI Information Officer David Sinay said the plan involves linking OFWs or their families to micro finance institutions to fund their projects in case these are qualified and accepted by these
financial institutions. DTI has been conducting entrepreneurial seminars to these OFWs and members of their families in coordination with the
Overseas Workers Welfare Administration, according to Sinay. (with full attribution from material earlier published by SunStar)
continuation from p16 China...
then experiences our airport. But issues such as these are far from the horizon our politicians save for a few because addressing these does not get one elected. The experiences of our Overseas Filipinos who not only survive but EXCEL in their adopted homeland offers valuable lessons for the Philippines. This phenomenon conclusively proves it is not the Filipino who is the problem but it is THE SYSTEM in the Philippines. The Philippines’ being a weak state allows China to disregard international treaties like UNCLOS in illegally appropriating vast areas of the South China Sea; it forces the separation of families and drains our intellectual capital, and it creates an economy based of dependence on inward remittances within the economy as a whole. This situation must not last because its continuation will lead to a cancerous erosion of our viability as a country. As Overseas Filipinos financing a huge chunk of the Philippine economy you must make your views known. You have an important weapon on your hands-
the power of the purse. You can and must demand concrete government action in exchange for your hard earned money. You must tell our government that it must invest in needed infrastructure. You must tell government that it must deliver the services to you and to your families, rather than demanding an endless amount of certified true copies of this and that, as well as falling in line several times to get so many signatures. You must tell the government that your embassies are there to serve you and your mirrors to the rest of the world and must be accordingly outfitted and equipped. Being payors the government must provide you with service which matches your payments rather than you subsidizing it further by complying with endless red tape and doing the work yourselves. You, as financiers, MUST make these demands or else your money goes down the proverbial drain. Our new government has the goodwill allowing it to start making major changes. It has announced that it will con-
vene a Constitutional Convention and attempt to introduce federalism to the Philippines. I believe this is a step in the right direction because if this is properly done it will address some of the ills I mentioned earlier. President Duterte’s nononsense fight against illegal drugs, crime, and corruption is likewise welcome. We are blessed to have competent intelligence agencies and to date we have not witnessed a major terrorist attack. We have not experienced widespread famine or pandemics. We have not seen a true civil war. The challenge for us now is how to transform and not merely to reform society while sustaining the momentum once changes for the better happen. The rest of the world is seeing a major shift in attitudes which do not fit convention. Governments are fighting a difficult battle in trying to address the endless onslaught of novel challenges. We Filipinos are blessed that although we have not tasted the best we have likewise not seen and experienced the worst.
has also been the major reason for the backward state of the delivery of basic services to the populace, this being a principal duty of the local governments rather than that of the national. It has also been the principal reason for the insularity and parochial essence of the Philippine politics. Our Motherland is a diverse archipelago with serious challenges, as such it needs to both capacitate institutions at the lowest possible level and equally important, open itself up to and deal effectively with the rest of the world. We NEED the rest of the world in order for us to develop into an efficient State. The sad state of our embassies abroad offers a glimpse into the lack of appreciation of this vital task. To give a simple example, imagine what a potential tourist would think when stepping into one of our embassies and then later on visiting those of our neighbors. Worse will happen should Mr. Tourist having decided to visit our country connects in Singapore or in Hong Kong and
OCTOBER 2016
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Philipines as sports tourism
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The Department of Tourism (DOT) wants to position the Philippines as a top sports tourism destination in the world, banking on the various attractions in the country and the passion of Filipinos for sports. “The Philippines has a huge potential to become one of the world’s great adventure travel destinations,” Tourism Secretary Wanda Teo said during the United Nations World Tourism Organization (UNWTO) Conference on Tourism and Sports in Vietnam last Sept. 23. “We certainly have the competitive edge to make it big in this fast growing niche market of sports tourism,” she added. Teo said the agency seeks to draw in more tourists and sports enthusiasts through the hosting of more local and international sports events. Tourism undersecretary Katherine De Castro added the Philippines should aim for a bigger share in the multi-billion sports tourism industry by promoting water activities. “Marine sports tourism, along with diving, are among
the Philippines’ key tourism products. This alone can spur tourism growth in the country,” she said, citing other water sports such as surfing and wake boarding. The DOT is currently implementing initiatives that would promote surfing in the country, particularly through the improvement of surfing facilities and training of local surfing coaches. It is also targeting to position the Philippines as a top diving destination in the region. The agency said it is also aiming to become the host of the next UNWTO Conference on Tourism and Sports. UNWTO considers tourism and sports as complementary sectors, which share common goals, including forging better relations between different nationalities and cultures, and promoting peace. It added that together, the two segments can be considered “powerful driving forces” of the economy. (with full attribution from material earlier published from Philstar)
OCTOBER 2016
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WHAT’S ON
TRAVEL
A new slogan for Philippine tourism
T
HE Department of Tourism is looking for a new tourism campaign slogan which it will launch at the Miss Universe pageant at the Mall of Asia Arena on January 30, 2017. The current one – “It’s More Fun in the Philippines!” – had been introduced by the Aquino administration and cited for bringing in more tourists to the country, many more than the previous ones. But the Philippines remains way down in lists of countries visited by tourists. The World Economic Forum’s travel and tourism competiveness index in May, 2015, ranked the Philippines 74th among 141 economies. This was eight places higher than its 82nd spot in 2013, but still way behind so many countries that are visited today by 1.186 billion international tourists worldwide. The World Tourism Organization report in 2015 said the Philippines had 4.83 million international visitors in 2014. In Southeast Asia, we were behind Malaysia which had 27.4 mil-
lion; Thailand, 24.7 million; Singapore, 11.8 million; Indonesia, 9.4 million; and Vietnam, 7.8 million. In the whole of Asia, the leading tourist destination was China with 56.6 million visitors. In the whole world, the leader was France with 84 million. With statistics like this, we must strive to improve our own tourism figures. The Department of Tourism hopes a new slogan will help. Before “It’s More Fun in the Philippines!” we had “Fiesta Islands Philippines,” “WOW Philippines,” and “Pilipinas Kay Ganda.” New Tourism Secretary Wanda Teo said the move for a new slogan was prompted by a survey conducted by Nielsen which said that while 65 percent of respondents in the European market liked the present one, only 26 percent had any intention of visiting the country. Similarly, 72 percent of the respondents in North America liked the slogan, but only 45 percent would like to come and visit. A new slogan may help in the campaign, but the DoT should
realize that there are some far more important considerations for people planning to travel to see the world. We have so many of these good reasons – our rich history as seen in the Walls of Intramuros and other vestiges of the Spanish colonial era, our beaches and lakes such as those of Boracay, and our friendly people. We will soon have a new tourism campaign slogan aimed, ac-
Accredited
cording to the DoT, at projecting the change being effected in the country by the new Duterte administration. We hope it will succeed and the steady increase in tourism arrivals in our country will continue and be further boosted by the new efforts of the DoT. (with full attribution from material earlier published from Tempo)
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OCTOBER 2016
EMBASSY NEWS
LONDON
EMBASSY OUTREACH - DUBLIN Requests for consular services at the Consular Outreach Mission in Dublin in November 2016 have now reached maximum capacity. Successful applicants will be advised through e-mail by 30 September (Friday) of their respective schedules. Said schedules are nontransferable to another time slot or to another person. If no email is received by the appointed date, please check the spam folder of your e-mail as there have been instances when the Embassy’s e-mail ended there. All applicants are advised to check the documentary and other requirements for their respective transactions at http://londonpe. dfa.gov.ph . Please further note of the additional requirements for the renewal of the old (not yet electronic) passports, as detailed in an advisory on the matter posted on the Embassy website. Only applicants with complete requirements will be served.
EMBASSY OUTREACH - LIVERPOOL The Embassy will hold its next Consular Outreach Mission for 2016 in: Date/Time: 22 October 2016 (Saturday), 9:00am to 5:00pm Venue: Lee Valley Millenium Centre, Childwall Valley Road Liverpool L25 2PR Contact Persons : Tricia Ferriol 01512284506 07841658744 Applicants are advised to check the documentary and other requirements at www.londonpe.dfa.gov.ph and to download the application forms in advance from the same website. The Embassy looks forward to serving you in Liverpool.
LONDON
WHAT’S ON
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OCTOBER 2016
Sailors’ Society appoints its first director of development
SPLASH ‘PINAS focuses on the plight of seafarers as we recognise their contributions to the world. Through the years the Sailor’s Society is the guiding force of our fellow Filipinos who cross the seas for a living and to provide for their families thousands of miles away. Being away from home all the time, we salute all their hard work! Sailor’s Society has appointed a director of development as part of a new approach to growing the charity’s resources. Adam Stacey, the Society’s former commercial director, has added fundraising to his remit with the creation of a new development department. His appointment comes as part of the charity’s plan to build on its foundation of support from the maritime industry by diversifying its funding streams, which will enable it to further develop its work supporting seafarers and their families around the world.
we are all reliant on seafarers, so there are many opportunities to broaden our supporter base.” Adam joined Sailors’ Society as commercial director in November 2015. Prior to this, he spent three years as CEO of a local charity in Hampshire and brings experience of running project-based social enterprises as well as being involved in a number of commercial businesses. (full attribution from Sailor’s Society)
Adam said: “As we approach our 200th anniversary, we’ve responded to the many needs of seafarers and their families by expanding our welfare and support programme. “We’ve now got almost 120 chaplains and ship visitors, and over the past three years, we’ve carried out a number of projects in seafaring communities, from rebuilding homes after Typhoon Haiyan to providing
boats for children to travel to school. “New technologies are giving us more opportunities for innovation – such as the development of our Wellness at Sea and Ship Visitor apps – and we have many more ideas in the pipeline to make seafarers’ lives better. Adam said: “With more than 90 per cent of everything we use in the UK transported by sea,
“We’ve now got almost 120 chaplains and ship visitors, and over the past three years, we’ve carried out a number of projects in seafaring communities, from rebuilding homes after Typhoon Haiyan to providing boats for children to travel to school.”
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OCTOBER 2016
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Ports ready to handle holiday
cargo volume surge – PPA
T
he Philippine Ports Authority (PPA) yesterday gave assurance the country’s ports are ready to handle an increase in volume of cargo for the Christmas season. Citing latest data on cargo volume as well as containerized cargo traffic, PPA general manager Jay Daniel Santiago said in a statement yesterday, the country’s ports are ready to accommodate the anticipated increase in cargo volume for Christmas. Latest data from the PPA showed total cargo throughput grew 11 percent to 141.770 million metric tons (MT) this year from 128.217 million MT in the same period last year. Foreign cargo volume inched up 12 percent yearon-year to 86.302 million MT, while domestic cargo shipments recorded a nine percent year-on-year increase. Containerized cargo traffic, meanwhile, climbed nine percent to 3.676 million twenty-foot equivalent units (TEUs) as of end-July this year from 3.368 million TEUs last year. Higher containerized
cargo traffic was seen as both foreign and domestic boxes registered a nine percent yearon-year hike to 2.203 million TEUs and 1.473 million TEUs, respectively. The Manila International Container Terminal remains the country’s top handler of foreign boxes as it processed 1.241 million TEUs for the January to July period. This was followed by the Manila South Harbor which handled 584,598 TEUs. The Manila North Harbor meanwhile, topped the list for domestic boxes as it handled 696,495 TEUs. At present, the combined yard utilization at the international ports of Manila is at 40 percent with approximately 32,600 TEUs inside the terminals, while yard productivity remains high at 20 to 30 moves an hour. PPA attributed the efficient yard management to the Terminal Appointment Booking System (TABS), an electronic platform for booking the pickup and delivery of containers in the two international ports of Manila. The online system is designed to optimize the entry and exit of cargo to and from the ports. Prior to the TABS, the average daily gate outs at the Manila ports is at 4,500 to 5,000 TEUs as compared to the post-TABS imposition of 7,000 to 7,500 TEUs daily gate outs. “With this kind of yard utilization, we can say that Philippine ports are ready to handle the expected increase in the volume of cargo due to the run-up to Christmas,” Santiago said. (with full attribution from material earlier published from Philstar)
OCTOBER 2016
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