The Philippine Economy

[bitoy]

Sa mga intsik, bumbay at iba pang negosyanteng taga ibang bansa, singkong tubo ayos na. Siga ang Pinoy, ayaw sa mababang sahod at kita sa negosyo, me bukol pa sa mga kontrata sa gobierno.

Nuon ang mga naglalako ng taho, namimili ng bakal, bote't diyaryo o nagtitinda ng mami siopao sa kalsada ay mga intsik...ngayon mga Pinoy na ang gumagawa niyan ang kaso, ang mga intsik na ang mga mayari ng pabrika ng taho, me bodega ng para sa mga gamit na bakal at bote at sila na me ari ng restoran at malalaki pang mga negosyo.

Kaya dumami ang OFW ay dahil na rin sa nais ng mga Pilipino na umunlad ang kanilang pamilya at katunayan ito na mas maigi pang mangibang bansa dahil maraming nangangailangan sa kanila. Supply and demand eka nga. Pag wala na niyan, me kaguluhan pero lahat naman ng problema ay may kalunasan.

Ako ay isang tsinoy, and I approve my message.

[mwg12a]

True pero dahil nga sa easy way out. Walang tiyaga ang mga pinoy at ayaw ng matagal ang return. Mas attractive ang buhay sa ibang bansa kahit na alam nila na kailangan kumayod ng doble, ang hindi ko lang maintindihan, kaya naman palang magtiyaga at kumayod kung gugustohin, bakit hindi pa sa sariling bansa? Partly alam ko dahil na rin sa mindset ng mga pinoy. gaya gaya kaya kung anong success ng iba duon sila pumupunta, parang daloy ng tubig sa ilog, its either good and bad. I'm sure ang success ng iba hindi tulad ng magiging success ng lahat. Thats where the problem is, we lack vision, resilience, patience and lastly believe in ourselves, the qualities of our neighboring asian countries are. I know there are alot of people from India who migrate in the west particularly in UK but inspite of that, alot of them still return bringing their knowledge and renewed skillls or talents with them, then use it to their advantage back in India.


Added:

You know what? I just realized one thing.... there has been foreign nationals immigrating in the Philippines since way back... The chineses and now the Koreans... I guess the filipinos never did learn and pick up the skills from these immigrants that we chose to work in other countries rather cultivate what we have while in the Philippines. Just like what you said, the chineses are one good example for these since just like the bumbays, they came to the Philippines with very little in their hand, now you see successes like the Tans, the Gokongwei and such who started from the scratch and are now magnates of multibillion corporations in the Philippines. I guess that still prove the fact that pinoys are normally just contented of being employed and make money rather than becoming a money generator .

[leofriends]

GO PHILIPPINES!!!

[RonnieR]

Originally Posted by b_two

it is easy to say anything but putting those words into actions is the tricky part. Many words had been uttered by this administration and considering that it's almost a year we should be starting to see tangible proofs that these words are being transformed into actions. Proofs of their initiatives and not carry over accomplishments.

We have seen and read tangible results. I have come to realize that no matter what good things are in the government whether it's GMA, Ramos or Aquino, if the critics do not believe the sitting President, they will turn blind eye. They will refuse to believe that it's happening, they will reject any pronouncements.

[wino]

I concur.. too much politicking..

better be neutral... so you will have a balanced view of what's really happening.

[RonnieR]

Originally Posted by wino

I concur.. too much politicking..

better be neutral... so you will have a balanced view of what's really happening.

Yes. Nobody can argue the hard facts in just 10 months of Aquino presidency.

1. Education - they implemented the K12 without so much fanfare.
2. DPWH - they terminated or cancelled anomalous contracts.
3. BOC - they filed on weekly basis smuggling cases against Customs employees and company officials. We're talking of hundreds of millions of pesos.
4. Finance/Bureau of Internal Revenue - No administration has done this "Shame Campaign" consistently. They filed tax evasion charges on weekly basis. The cases are now with Dept. of Justice.
5. Anti-corruption measures are well reported in the media - the investigation in Armed Forces, the impeachment of Ombudsman - the first time in the history of the country.
6. DOT - despite the negative perception by the foreign media, our tourism continues to flourish. Domestic tourism is at its peak this summer with shipping companies reporting 100% increase in Sales. Thanks to good weather with only one typhoon "Amang" that entered in the country but the latter quickly dissipated.
7. Real estate boom - companies continue to report increases in Sales, new projects are launched.
8. BPO boom - credit to GMA for this. It's good that P. Noy continues to strengthen this industry by the enormous support they give to TESDA and schools. This assures the continuity of supply of workers.
9. Finance officials including Board of Investment and eco zones continue to report increase in investments. They are on road shows to entice investors to participate in multi-billion PPP projects. The first projects shall be awarded in the middle of the year.
10. Increase in infrastructure - we can't deny these as we see the new tolls, roads, among others.
11. Consumer confidence - malls, bars, restaurants are always packed with people.
12. Crime Index is down although high profile cases of carnapping/carjacking were reported.
13. The people still trust this government - above 60% is considered high. The people understand that high fuel prices are not due to this government but the external forces. The Filipinos are aware of the external events in Middle East and Japan.

That's only 10 months. Lucky 13 talaga yan.

[rain34]

Originally Posted by FlashCollider

If only you finish reading the whole article then maybe there might be slight chances you will understand what was being reported. Unfortunately that wasn't the case.



Yan ha colour coded na para naman masmadali mong masundan.

Well that is what the Koreans say unless you doubt our Gov't agency nad you are more biased to foreign investors then that is another story.

[b_two]

Originally Posted by RonnieR

We have seen and read tangible results. I have come to realize that no matter what good things are in the government whether it's GMA, Ramos or Aquino, if the critics do not believe the sitting President, they will turn blind eye. They will refuse to believe that it's happening, they will reject any pronouncements.

i believe the statement goes both ways.

[rain34]

Originally Posted by RonnieR

Yes. Nobody can argue the hard facts in just 10 months of Aquino presidency.

1. Education - they implemented the K12 without so much fanfare.
2. DPWH - they terminated or cancelled anomalous contracts.
3. BOC - they filed on weekly basis smuggling cases against Customs employees and company officials. We're talking of hundreds of millions of pesos.
4. Finance/Bureau of Internal Revenue - No administration has done this "Shame Campaign" consistently. They filed tax evasion charges on weekly basis. The cases are now with Dept. of Justice.
5. Anti-corruption measures are well reported in the media - the investigation in Armed Forces, the impeachment of Ombudsman - the first time in the history of the country.
6. DOT - despite the negative perception by the foreign media, our tourism continues to flourish. Domestic tourism is at its peak this summer with shipping companies reporting 100% increase in Sales. Thanks to good weather with only one typhoon "Amang" that entered in the country but the latter quickly dissipated.
7. Real estate boom - companies continue to report increases in Sales, new projects are launched.
8. BPO boom - credit to GMA for this. It's good that P. Noy continues to strengthen this industry by the enormous support they give to TESDA and schools. This assures the continuity of supply of workers.
9. Finance officials including Board of Investment and eco zones continue to report increase in investments. They are on road shows to entice investors to participate in multi-billion PPP projects. The first projects shall be awarded in the middle of the year.
10. Increase in infrastructure - we can't deny these as we see the new tolls, roads, among others.
11. Consumer confidence - malls, bars, restaurants are always packed with people.
12. Crime Index is down although high profile cases of carnapping/carjacking were reported.
13. The people still trust this government - above 60% is considered high. The people understand that high fuel prices are not due to this government but the external forces. The Filipinos are aware of the external events in Middle East and Japan.

That's only 10 months. Lucky 13 talaga yan.

Meron naman talagang ginagawa manhid lang ang mga tao o kaya naiinip o kaya naman ay ayaw talaga nila kay Pnoy. Ako IMHO hindi ko din first hand type si Pnoy as president but siya na ang pangulo. Hindi naman nakakatulong kung patalsikin siya sa pwesto. Mataas pa ang trust ratings sa kanya if the opposition would devise a way for him to be removed from office its doomed to fail for the time being.

[RonnieR]

Gov't could export additional 60,000-T sugar to US
Reuters
Posted at 04/13/2011 4:41 PM | Updated as of 04/13/2011 5:01 PM

MANILA, Philippines - The country could export an additional 60,000 tons of sugar to the United States this year, on top of the approved export quota allocation of 136,201 tons, given ample local supply, the local industry regulator's chief said on Wednesday.

On Monday, the US Agriculture Department announced it was reassigning 294,835 tons originally allocated to domestic producers to countries exporting sugar to the country, with top sugar producer Brazil and the Philippines to be allowed to export more to the United States to counter a shortage caused by a hard freeze which hit the cane crop in Florida.

The Philippines will also not import sugar this year, Regina Bautista-Martin, chief of the Sugar Regulatory Administration (SRA), told Reuters in a phone interview.

She added that the SRA may raise its sugar output estimate for crop year 2010 to 2011, which runs from September to August, from 1.965 million tons because of abundant stocks and improved production.
http://www.abs-cbnnews.com/business/...000-t-sugar-us

[RonnieR]

This is great news. Even Ayala Land now is keen to invest in infrastructure projects of government.

Manila's Ayala Land eyes govt tollroad, rail projects

Stocks

Ayala Corp
AC.PS
Php392.00
+1.60+0.41%
12:08pm GMT+0800

Ayala Land Inc
ALI.PS
Php16.60
+0.10+0.61%
12:08pm GMT+0800

MANILA, April 13 | Wed Apr 13, 2011 3:50am EDT

(Reuters) - Ayala Land Inc , the Philippines' largest developer, is looking to bid for public-private partnerships for tollroad and rail projects that will be put up for auction by the government, its president said.

Ayala Land, which is aiming to grow its profit to 10 billion pesos ($231 million) by 2014, said it could team up with parent Ayala Corp for this plan.

"I think there will be some infrastructure projects that Ayala Land should be actively involved with," President Antonino Aquino said in a media briefing on Wednesday following the company's annual stockholders' meeting.

"Infrastructure and property development are highly complementary and we're talking about roads and rails leading to Ayala Land development," he said.

The Philippine government has started the bidding process for contracts to operate two railways in the capital last month, part of a menu of more than $1 billion in projects to be offered initially to investors.

Ayala Land plans to spend as much as 33 billion pesos in capital spending this year. Bulk of it will go to housing projects.

In January, the property firm raised 10 billion pesos through the sale of five-, 10- and 15-year notes to boost capital spending this year.

It plans to raise another 2 billion pesos through a three-year bond issue next month to partly finance operations.

Chief Financial Officer Jaime Ysmael said the company had a strong first-quarter financial performance, but declined to give any profit guidance for the year.

The company saw a 35 percent jump in last year's net income to a record 5.46 billion pesos.

Shares of Ayala Land rose 0.61 percent in a market that ended flat. ($1 = 43.172 Philippine Pesos) (Reporting by Erik dela Cruz; Editing by Vinu Pilakkott)

http://www.reuters.com/article/2011/...teNews&rpc=401

Hmmm... business wise, they want to invest toll roads leading to Ayala projects. Same scheme used by Manny Villar....the difference is, the latter was politicized.

[Parchie]

Originally Posted by mwg12a

Hindi ako natatawa diyan ha!!

Nagwagi ang mga pana sa business he he baka next time mga bumbay naman ang mag karoon ng little india communities diyan gaya ng mga Korean. Okay lang , parang tate, canada at australia na ang pinas, maraming immigrants.

Kidding aside, that idea of having many immigrants to live in the Philippines who would all set up businesss in the Philippines would probably be the right thing to happen. For one thing, it will create more jobs for the people, secondly, it might open the filipino minds into more interpreneuralship and create jobs for their own people instead of relying on OFW placement overseas. Hopefullly! kaya lang baka maging masanay na naman na laging magbow na lang ng bow sa mga foreigners ang mga pinoy diyan at maging kuntento na lang na empleyado sila ng mga ito.

Matagal ka na rin bang wala dito sa bayan sir? If I remember right, there was a big influx of Hindus way back during the watch of FVR. People were apprehensive that FVR's sister, Sen. Letty Shahani had a hand in helping these small business entrepreneurs from India (the senator's husband is and Indian national). Even now, you can see a lot of them in the wet and flea market lending activities. Most of these people already got married to Filipinas.

[raphnix]

Say, the Philippine Government dreams to see a skyrocketing progress in our national economy, could it become a mindset and could turn into a true goal?

[boypad]

Prepare for P2-a-kilo spike in rice prices, advises NFA

Manila Standard Today
by Othel V. Campos
April 13, 2011
http://www.manilastandardtoday.com/i...=2011/april/13

THE prices of commercial rice might increase by P2 a kilo as a result of rising fuel prices, the National Food Authority warned Tuesday.

“When the present harvest is almost over by July, the price of local commercial rice may increase by as much as P2 per kilo despite projections of a good harvest,” administrator Angelito Banayo said.

“The continuing increase in the price of fuel will take its toll on farm products, especially rice.”

The oil companies on Tuesday raised diesel prices by P1.50 a liter, gasoline by P1.50, regular gas by P1.25, and kerosene by P1.40.

Diesel prices have risen by P8 a liter since the start of the year, and gasoline prices by more than P6.

“I think the buying public will understand that every time fuel prices increase, there is a domino effect,” Banayo said.

“Already, transport costs are up. Commodities are next.”

But Banayo assured the public that the price of government-subsidized rice will remain at P27 a kilo.

National Food raised the retail price of government-subsidized rice to P27 a kilo from P25 on Dec. 7 last year, and the wholesale price of rice to P25 a kilo from P23.50.

Meanwhile, Agriculture Secretary Proceso Alcala said the country would not need to increase rice imports beyond the 860,000 metric tons planned for this year.

Rough-rice production in the first half might beat the target of 7.6 million tons, while the full-year output might be more than the goal of 17.46 million tons, Alcala told reporters.

Philippine purchases from overseas can influence prices in Thailand, the world’s largest shipper, and in Chicago.

On Monday, Banayo said the country might need to import an extra 300,000 tons to ensure enough supplies in case of typhoons.

“We’re expecting a very good harvest,” Alcala said. The nation’s first-half production target is a 15-percent improvement from the same period a year earlier.

The Philippines, previously the world’s biggest rice importer, plans to more than halve purchases from about 2.5 million tons in 2010. With Alena Mae Flores, Rey T. Salita and Bloomberg

[Sleepwalker]

As long as people have some source of income, price hike won't matter that much.

Instead of subsidizing, why not generate more jobs for the citizens. PPP is one hope we can hold on to. Then we have more investment coming.

Farming is one sector our government should improve. If we have more harvest, we don't depend on imports.

[kenken94]

No improvement will reduce the damage of Global Warming. It's the root cause. Sudden changes in weather will affect the agriculture sector most but even so, they must be assessed with utmost priority.

[FlashCollider]

Originally Posted by Sleepwalker

As long as people have some source of income, price hike won't matter that much.

Instead of subsidizing, why not generate more jobs for the citizens. PPP is one hope we can hold on to. Then we have more investment coming.

Farming is one sector our government should improve. If we have more harvest, we don't depend on imports.

Short-sightedness of the palaces' technocrats exacerbated by PNoy's obsession with his popularity will bite their ass off because of ballooning budget deficit.

[FlashCollider]

IT-BPO continues to impress investors
Bottomline
By MICHAEL ALAN HAMLIN April 13, 2011, 1:56am

MANILA, Philippines – In recent weeks, the Business Processing Association of the Philippines (BPAP) has made two important announcements that show the industry continues to impress investors. Last week, the association – which serves as the umbrella association for a range of outsourcing and shared services sectors in the Philippines – confirmed that the industry as a whole grew 26% in 2010 to $8.9 billion in revenue.

Employment grew 25% to 525,000 skilled workers and professionals, an increase of 100,000 jobs. Value-added, non-voice jobs grew fastest at 30%, according to BPAP chairman Alfredo Ayala. “We now employ more than 100,000 professionals in this sub-sector,” he said, “with many of these BPO employees coming from finance and accounting, legal, and medical sciences backgrounds.”

All major IT-BPO sectors reported impressive growth. “We achieved robust growth in all major sectors of the industry: voice-based BPO, non-voice business support and complex services, and information technology,” Mr. Ayala said. “Our contact-center sector grew over 20%, overtaking India and establishing itself as the largest in the world on the back of the Philippines being recognized as the most-preferred destination in the world for these services.”

According to BPAP, smaller outsourcing sectors such as IT, transcription, animation, and game development also grew as recovery from the 2009 global financial crisis took hold. According to BPAP senior executive director Gillian Joyce Virata, only engineering services failed to post positive growth because the industries it serves - construction and automotive - have yet to fully recover. Nevertheless, these sectors have increased the value and complexity of their services delivered from the Philippines. Mirroring growth in value-added, non-voice jobs overall, software sector jobs grew at a healthy 28% in 2010 according to Nora Terrado, president of the Philippine Software Industry Association. “We earned US$725 million in export revenues last year as our clients renewed their IT spending in anticipation of expansion after a year of hesitation,” she said. Terrado said there are about 45,000 IT professionals employed in the country’s IT outsourcing sector, up 27% from 2009.

The fact that established sectors continue to post robust growth is significant.

“The Philippines now leads the world in voice-based customer service,” said Benedict Hernandez, president of the Contact Center Association of the Philippines. “We have solidified our global leading position with our agents providing the best customer service in the world.” The contact center sector grew 21% to US$6.1 billion last year. Employment jumped 23% to 344,000.

An IT-BPO and shared services industry road map was developed last year under BPAP’s direction by the Everest Group and Outsource2Philippines, with funding provided by the Commission on Information & Communications Technology. It forecasts at a minimum sustained growth of 15% annually for the industry.

“But with greater collaboration from all stakeholders, including government and the academe, we have the potential to grow at 25% a year. This would create 1.3 million direct jobs and $25 billion in export revenues,” Mr. Ayala said.

(Disclosure: I am president of Outsource2Philippines and BPAP is a client of TeamAsia, where I am managing director.)

An earlier announcement provided a backdrop for the industry’s 2010 results and demonstrated another emerging industry role for the Philippines: thought leadership. Ms. Virata announced that the third annual International Outsourcing Summit will take place in the Philippines October 11-12. “This year’s Summit will feature presentations and panel discussions with more than 60 top executives and analysts from leading organizations,” Raymond Lacdao, BPAP executive director for industry affairs said.

“The theme of the Summit – Global Market Leaders Addressing Global Issues – will focus on innovation and value creation. The industry is moving up the value chain rapidly, and clients expect services providers to be their partners in enhancing value for their customers,” Mr. Lacdao explained. “We will hear first-hand from industry clients what they expect. And top executives from industry will describe how they are responding.

Approximately 400 executives in the IT-BPO and shared services industry from 20 countries are expected to attend the three-day Summit and related events, which include an exhibit, gala dinners, and business matching, according to Mr. Lacdao. A website, www.internationaloutsourcingsummit.com, provides a detailed agenda, including invited and confirmed speakers.

“This year’s Summit will also review the IT-BPO Road Map 2011-2016 and the implications of recent developments on the Philippines’ position as the new leader in voice – and how it affects the even faster-growing non-voice segment for all locators,” Ms. Virata said. “With more than 20 verticals and 525,000 knowledge workers, the Philippines is the place to meet top influential executives from the industry and the industries is serves,” Mr. Lacdao said.

Yes it is.

[spearhead]

Originally Posted by mwg12a

Hindi ako natatawa diyan ha!!

Nagwagi ang mga pana sa business he he baka next time mga bumbay naman ang mag karoon ng little india communities diyan gaya ng mga Korean. Okay lang , parang tate, canada at australia na ang pinas, maraming immigrants.

Kidding aside, that idea of having many immigrants to live in the Philippines who would all set up businesss in the Philippines would probably be the right thing to happen. For one thing, it will create more jobs for the people, secondly, it might open the filipino minds into more interpreneuralship and create jobs for their own people instead of relying on OFW placement overseas. Hopefullly! kaya lang baka maging masanay na naman na laging magbow na lang ng bow sa mga foreigners ang mga pinoy diyan at maging kuntento na lang na empleyado sila ng mga ito.

Originally Posted by bitoy

Sa mga intsik, bumbay at iba pang negosyanteng taga ibang bansa, singkong tubo ayos na. Siga ang Pinoy, ayaw sa mababang sahod at kita sa negosyo, me bukol pa sa mga kontrata sa gobierno.

Nuon ang mga naglalako ng taho, namimili ng bakal, bote't diyaryo o nagtitinda ng mami siopao sa kalsada ay mga intsik...ngayon mga Pinoy na ang gumagawa niyan ang kaso, ang mga intsik na ang mga mayari ng pabrika ng taho, me bodega ng para sa mga gamit na bakal at bote at sila na me ari ng restoran at malalaki pang mga negosyo.

Kaya dumami ang OFW ay dahil na rin sa nais ng mga Pilipino na umunlad ang kanilang pamilya at katunayan ito na mas maigi pang mangibang bansa dahil maraming nangangailangan sa kanila. Supply and demand eka nga. Pag wala na niyan, me kaguluhan pero lahat naman ng problema ay may kalunasan.

Ako ay isang tsinoy, and I approve my message.

Originally Posted by Parchie

Matagal ka na rin bang wala dito sa bayan sir? If I remember right, there was a big influx of Hindus way back during the watch of FVR. People were apprehensive that FVR's sister, Sen. Letty Shahani had a hand in helping these small business entrepreneurs from India (the senator's husband is and Indian national). Even now, you can see a lot of them in the wet and flea market lending activities. Most of these people already got married to Filipinas.

Philippines is already the most diversed asian nation di ba.

[first knight]

‘China overrated; PH underrated’



Malaya Business Insights
April 14, 2011


The European Chamber of Commerce of the Philippines (ECCP) sees room for attracting more foreign direct investments (FDIs) by addressing corruption and poor perception of the country.

Michel Miloda, newly installed executive vice-president of ECCP, said: "There are a number of problems here but we cannot change them rapidly. It has to be step by step."

"There is room for improving the investment climate in the Philippines to make it attractive to foreign investors, especially compared with China," he said.

Many locally based European businessmen see China see as overrated and the Philippines as underrated.

"If you come from Europe, everybody is talking negatively about the Philippines, of corruption. Nobody mentions (about Filipino) communication and IT skills. It’s a matter of perception. It must be changed," Miloda said.

He said this is especially so because the Philippines has poor standing in international surveys on corruption.

ECCP president Hubert d’Aboville said the level of FDIs in the Philippines is "frustrating".

ECCP is at the forefront of the private sector’s Integrity Initiative which advocates fair and ethical business practices.

D’Aboville said there are more than 500 private companies which have signed up for the Integrity Initiative and that the group is negotiating with government agencies to sign up.

D’Aboville said in the future, the group hopes that companies not in the Integrity Initiative list would not be allowed to bid for government projects or for supply contracts.

One of the supporters of the plan is Education Secretary Armin Luistro.

Outgoing executive vice-president Henry Schumacher also said the ECCP is working with the Bureau of Internal Revenue and the Bureau of Customs to allow those that pay proper taxes and duties to have access to so-called green and blue lanes which allow for speedy processing of papers.

Schumacher said the ECCP is also in discussions with Public Works Secretary Rogelio Singson, the Department of Budget and Management, and the Philippine Economic Zone Authority.

Schumacher said ECCP has proposed to DBM ways to "shrink" government by outsourcing to the private sector.