Manila economy – APASL 2019 Manila http://apasl2019manila.org/ Tue, 23 Nov 2021 02:28:02 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://apasl2019manila.org/wp-content/uploads/2021/10/icon-120x120.jpg Manila economy – APASL 2019 Manila http://apasl2019manila.org/ 32 32 Surprise in the third quarter | Cebu Daily News https://apasl2019manila.org/surprise-in-the-third-quarter-cebu-daily-news/ Tue, 23 Nov 2021 00:14:00 +0000 https://apasl2019manila.org/surprise-in-the-third-quarter-cebu-daily-news/ I was wrong about how the economy would fare in the third quarter (Q3) this year. And like almost everyone, I’m glad I was. Most were surprised by the unexpected strong recovery in the country’s gross domestic product (GDP). Compared to the third quarter of last year (i.e. year-on-year), GDP grew by 7.1%. More importantly, […]]]>

I was wrong about how the economy would fare in the third quarter (Q3) this year. And like almost everyone, I’m glad I was. Most were surprised by the unexpected strong recovery in the country’s gross domestic product (GDP). Compared to the third quarter of last year (i.e. year-on-year), GDP grew by 7.1%. More importantly, it increased 3.8% quarter-on-quarter, which means, compared to the previous quarter (Q2), with an appropriate statistical adjustment to remove seasonal effects on production.

Without such an adjustment, production in the third quarter of any year could be biased downward, as activity levels could be hampered by less favorable weather conditions during the rainy season, for example. The seasonally adjusted GDP figure, which is actually also routinely reported by the Philippine Statistics Authority (PSA), would offset this with an upward adjustment to correct for this particular seasonal bias. There may be other recurring seasonal biases due to other factors, for which statisticians have tools to extract the data. Thus, “seasonally adjusted” quarterly figures can be directly compared from quarter to quarter to reveal “pure” growth (or contraction) in the economy, in more real time than the rate could show. year-over-year growth. As I have already explained before (“We are not out of the recession”, 08/17/21), the latter can be particularly misleading when there are abnormal and drastic drops or increases in GDP, such as what happened last year due to the severe lockdowns imposed. in response to the COVID-19 pandemic. With an unusually low (or high) base to compare with the previous year, the year-over-year growth rate may appear unduly high (or low) due to the “base effect”.

That’s why I described it as misplaced jubilation when the news of seemingly impressive second quarter growth of 11.8% in mid-August was generally greeted with a festive mood. Even as the news broke the recession was over (because it was the first positive GDP growth rate we’ve seen since 2019), I pointed out that the economy had actually contracted by this time. there, with the growth rate adjusted for seasonal variations from quarter to quarter. negative at -1.4 percent (as revised).

Because the year-on-year GDP growth rate in Q3-2021 was 7.1%, several reports I’ve seen incorrectly described it as “weaker” than Q2. In reality, the reverse was true, as the economy experienced positive growth of 3.8% from the level in the second quarter. And therein lies the surprise that hardly anyone expected. The third quarter actually saw a return to stricter Community Quarantine (ECQ) for key COVID-19 hotspots, including Metro Manila and surrounding areas, after previously being in General Community Quarantine (GCQ ) more flexible in June. So I fully expected in August that the third quarter seasonally adjusted GDP level would drop even more from the second quarter level. The resurgence of unemployment to 8.1% in August and 8.9% in September, from 7.7% in May and June, also suggested a more contained economy in the third quarter, further reinforcing my expectation of a contraction.

But lo and behold, seasonally adjusted GDP actually reversed the decline from the previous quarter and grew 3.8% quarter-on-quarter, even though the 7.1% year-on-year growth made it look weaker than the 12-month period. % of second trimester (as revised).

So what led to the surprise? The PSA cited wholesale and retail trade, transportation and warehousing, and professional and business services as the main drivers of quarter-over-quarter growth. Wholesale and retail trade, manufacturing and construction drove year-over-year growth. It should also be noted that agriculture fell 1.0 percent in the first three quarters just because African swine fever caused animal production to fall by 19.7 percent. Without livestock farming, agriculture actually increased by 2.2 percent. All in all, I would attribute the surprise to how the ECQ as applied in 2021 is very different from the ECQ around 2020. As a result, the tightening of quarantine levels in the third quarter did not materialize. ultimately not translated into a tightening of the economy.

With restrictions having been eased further since then, the economic outlook looks even brighter, as long as we can prevent the virus from surprising us again.

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SMDC Gold Reso offers a perfect home for the Filipino entrepreneur https://apasl2019manila.org/smdc-gold-reso-offers-a-perfect-home-for-the-filipino-entrepreneur/ Sat, 20 Nov 2021 17:33:15 +0000 https://apasl2019manila.org/smdc-gold-reso-offers-a-perfect-home-for-the-filipino-entrepreneur/ With the Philippine economy showing better prospects this year, now is the time for the Filipino entrepreneur to shine. And why not? With the experience of the pandemic, new industries have emerged; resilient and enterprising Filipinos have found opportunities to turn the tide. This is good news, especially for small business owners or MSMEs, who […]]]>

With the Philippine economy showing better prospects this year, now is the time for the Filipino entrepreneur to shine. And why not? With the experience of the pandemic, new industries have emerged; resilient and enterprising Filipinos have found opportunities to turn the tide.

This is good news, especially for small business owners or MSMEs, who not only provide a third of the country’s GDP, but also create an additional 5.5 million jobs for the workforce, according to 2019 data from the Philippine Statistics Authority.

This is where the innovative development of Gold of the Year 2020 from SMDC Real Estate Developer of the Year comes in. By reducing the operating costs of the business while helping to improve the competitiveness of MSMEs, SMDC’s second foray into residential-office development (Reso) provides a means to realize its vision of enabling and partnering with them to realize their dream of prosperity.

Inspired by the smooth and shiny surface of gold bars, this development has a fully glazed facade capturing an opulent, elegant and powerful position. CONTRIBUTION PHOTO

Personal space in “office area”

What weighs on many micro or small businesses is the cost associated with office space. For entrepreneurs starting businesses for the first time, Gold Reso is perfectly in sync.

Gold Reso provides the ability to convert capital otherwise used as an additional operating cost for clients into real assets that they will eventually own. By doing so, they can keep the prices of their products and services competitive.

Empower the Filipino entrepreneur

Gold Reso’s location provides access to the vibrant and progressive town of Parañaque, a premier destination for tourism and entertainment as it is home to Ninoy Aquino International Airport and has a high concentration of casinos, hotels luxury, high-end shopping centers and exclusive residential developments. .

With Gold Reso, one can expect the same luxurious lifestyle and generous amenities of an SMDC development that an entrepreneur would need. Take for example providing backup power to all units to avoid business interruptions or downtime. Physical support equipment such as co-working spaces, meeting rooms and reception rooms are well in place to meet the needs of the growing entrepreneur.

Living and Doing Business at Gold Reso is designed to enable owners and their clients to enjoy the complete community experience highlighted by health and wellness amenities, dining, state-of-the-art connectivity. technology and an activity playground as a place to discover and nurture your next big ideas.

It’s no surprise that those looking for a secondary source of investment income want to be among the first owners of such a development.


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Robredo promises to ‘build smarter’ if elected president https://apasl2019manila.org/robredo-promises-to-build-smarter-if-elected-president/ Thu, 18 Nov 2021 06:08:54 +0000 https://apasl2019manila.org/robredo-promises-to-build-smarter-if-elected-president/ Vice-President Maria Leonor “Leni” Robredo. Photo by René Dilan Vice-President Maria Leonor “Leni” Robredo has pledged to “build smarter” if she becomes president, saying traditional infrastructure is not enough to make the economy resilient. “What we learned during the pandemic is that traditional infrastructure is not enough to make the economy resilient. build smarter, with […]]]>

Vice-President Maria Leonor “Leni” Robredo. Photo by René Dilan

Vice-President Maria Leonor “Leni” Robredo has pledged to “build smarter” if she becomes president, saying traditional infrastructure is not enough to make the economy resilient.

“What we learned during the pandemic is that traditional infrastructure is not enough to make the economy resilient. build smarter, with a greater focus on building and expanding infrastructure to support our current and emerging communities and industries, ”she said in a pre-recorded Q&A for the Philippine Business Conference and Expo.

“For example, providing better access and better infrastructure support to digitization will benefit not only the IT (information technology) and BPO (business process outsourcing) sector, but also other industries,” said she declared.

For Robredo, the Build, Build, Build program should be continued in the next administration, but with more emphasis on infrastructure for rural development.

“One of the policies that I think should be continued in the next administration is the Build, Build, Build program. But we will fine-tune it to put more emphasis on infrastructure that will boost rural development,” she declared. said during the Rotary Club of Makati Q&A session – RVote Session 3 earlier this month.

The Philippine Business Conference and Expo is organized by the Philippine Chamber of Commerce and Industry.


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No mailing for non-vaxxed children under 12 years old https://apasl2019manila.org/no-mailing-for-non-vaxxed-children-under-12-years-old/ Mon, 15 Nov 2021 17:50:00 +0000 https://apasl2019manila.org/no-mailing-for-non-vaxxed-children-under-12-years-old/ President Rodrigo Duterte yesterday urged local government units to pass an ordinance prohibiting unvaccinated children aged 11 and under from shopping malls. FIRST DAY OF RETURN. A boy looks overwhelmed by the face shield and face shield he wears on the first day of face-to-face pilot lessons at Longos Primary School in Alaminos City, Pangasinan […]]]>

President Rodrigo Duterte yesterday urged local government units to pass an ordinance prohibiting unvaccinated children aged 11 and under from shopping malls.

FIRST DAY OF RETURN. A boy looks overwhelmed by the face shield and face shield he wears on the first day of face-to-face pilot lessons at Longos Primary School in Alaminos City, Pangasinan on Monday. In Milagros, Masbate (pictured right), a teacher hears a student reciting from her seat protected by plastic edging as grade 11 and 12 students at Mary Perpetua E. Brioso National High School in Tigbao return to school for the first time in 20 months. Pictures

“I call on all LGUs to consider adopting ordinances limiting the age of minors who may be allowed to visit malls,” he said in his speech to people broadcast late Monday night. “Parents and guardians of unvaccinated minors, please be aware of the risk. I hope that none of our children will have COVID-19, ”added the president. Duterte said even though the economy has reopened as cases remain on the decline, unvaccinated minors should not be allowed out because they lack the means to fight the virus. Earlier today, the Philippine Medical Association (PMA) also urged parents and guardians not to bring children aged 11 and under to shopping malls during the COVID-19 pandemic. PMA President Dr Benito Atienza made the appeal despite the decrease in the number of COVID-19 cases in the country, prompting calls to further relax quarantine restrictions. “Regardless of the alert level, we ask parents not to bring their children inside shopping malls, especially those aged 11 and under,” Atienza said in Filipino. “There are no COVID-19 vaccines approved for them yet. Rather, they should be taken to parks where social distancing can be observed, ”he said.

A two-year-old has reportedly tested positive for COVID-19, but the health ministry said it was an isolated case. Under Secretary of Health Maria Rosario Vergeire said a single case should not be interpreted as a need to prevent children from going out. Some 400,000 minors in the 12-17 age group have already received their first dose of COVID-19 vaccines. The government launched its pediatric vaccination program on October 15 for people with co-morbidities and on November 3 for all minors in the 12-17 age group. Government data shows that there are 12.7 million children between the ages of 12 and 17 in the country, of which 1.2 million have co-morbidities. The government aims to immunize 80 percent, or about 10 million of them by December 2021. The government plans to expand its pediatric immunization program for children under 12 next year.

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Kishida re-elected Japanese prime minister in parliamentary vote https://apasl2019manila.org/kishida-re-elected-japanese-prime-minister-in-parliamentary-vote/ https://apasl2019manila.org/kishida-re-elected-japanese-prime-minister-in-parliamentary-vote/#respond Wed, 10 Nov 2021 08:22:12 +0000 https://apasl2019manila.org/kishida-re-elected-japanese-prime-minister-in-parliamentary-vote/ Fumio Kishida (center) bows after being re-elected Prime Minister of Japan to the lower house of parliament on Wednesday, November 10, 2021, in Tokyo. AP PHOTO TOKYO: Fumio Kishida was re-elected as Prime Minister of Japan on Wednesday after his ruling party won a major victory in key parliamentary elections. Elected just over a month […]]]>

Fumio Kishida (center) bows after being re-elected Prime Minister of Japan to the lower house of parliament on Wednesday, November 10, 2021, in Tokyo. AP PHOTO

TOKYO: Fumio Kishida was re-elected as Prime Minister of Japan on Wednesday after his ruling party won a major victory in key parliamentary elections.

Elected just over a month ago by parliament, Kishida called a quick election in which his ruling party won 261 seats in the 465-member lower house – the most powerful in the two-chamber legislature from Japan – enough to keep a free hand to push through the legislation. parliament.

October 31 victory strengthens his grip on power and is seen as a mandate from voters for his weeks-old government to tackle the pandemic-stricken economy, virus measures and other challenges . Kishida said he viewed the results as a signal that voters chose stability over change.

Later Wednesday, he will form his second cabinet, retaining all the ministers he appointed except one when he took office on October 4, and then set out his economic measures and other key policies at a press conference.

Kishida was chosen by the Liberal Democrats as a safe and conservative choice a month ago. They feared heavy electoral losses if the unpopular Yoshihide Suga remained in power. Suga stepped down after just a year in office as his popularity plunged following criticism of his handling of the coronavirus pandemic and his insistence on hosting the Tokyo Olympics despite fears of a wave of the virus.

Better than expected election results could give Kishida’s government more power and time to work on campaign promises, including controlling COVID-19, economic revitalization and strengthening Japan’s defense capacity.

Kishida’s grip on power can also be strengthened by changes in his cabinet.

A key political expert from his faction, former Education Minister Yoshimasa Hayashi, will be the new Foreign Minister, while former Foreign Minister Toshimitsu Motegi will rise to the ruling party’s No.2 post.

Motegi voted for Kishida in the party leadership race and will replace party heavyweight Akira Amari, who resigned from his post due to his unimpressive election result due to his previous corruption scandal.

Although many of Kishida’s ministers are novices, key positions have gone to influential wings and parties, including those led by former ultra-conservative prime minister Shinzo Abe and former finance minister Taro Aso. .

Kishida promises to create an enhanced growth cycle and better economic distribution to increase income as part of his “new capitalism” economic policy.

Kishida’s immediate post-election task is to compile a massive economic stimulus package of around 30 trillion yen ($ 265 billion) that includes cash payments, to be announced next week. It also aims to pass an additional budget by the end of this year to fund the projects.

At a government meeting on Tuesday, Kishida renewed his pledge to create a positive cycle of growth distribution by boosting investment and income.

Kishida is also expected to outline later this week his pandemic measures ahead of another possible increase in cases, which could affect his support ratings.

As a former foreign minister, Kishida will continue to prioritize the Japan-US security alliance and promote a vision of a “free and open Indo-Pacific” with other democracies, including including Quad Dialogue members, the United States, Australia and India.

Kishida stressed the importance of a stronger military amid concerns about China’s growing power and influence and North Korea’s missile and nuclear threats.

He opposed changes to a law that requires married couples to adopt only one last name, forcing most women to give up their maiden name. Liberal Democrats are widely seen as opposed to gender equality and diversity.


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FINEX welcomes more relaxed NCR alert level – Manila bulletin https://apasl2019manila.org/finex-welcomes-more-relaxed-ncr-alert-level-manila-bulletin/ https://apasl2019manila.org/finex-welcomes-more-relaxed-ncr-alert-level-manila-bulletin/#respond Mon, 08 Nov 2021 00:55:00 +0000 https://apasl2019manila.org/finex-welcomes-more-relaxed-ncr-alert-level-manila-bulletin/ The Institute of Financial Executives of the Philippines (FINEX) hailed the government’s decision that lowered the quarantine status of Metro Manila to a more relaxed alert level. In a statement, Francisco Ed Lim, president of FINEX, said moving the National Capital Region (NCR) to Alert Level 2 would give a much needed boost to the […]]]>

The Institute of Financial Executives of the Philippines (FINEX) hailed the government’s decision that lowered the quarantine status of Metro Manila to a more relaxed alert level.

In a statement, Francisco Ed Lim, president of FINEX, said moving the National Capital Region (NCR) to Alert Level 2 would give a much needed boost to the struggling economy.

Lim added that Metro Manila’s departure from Restrictor Alert Level 2 is “really positive news” given that the region accounts for more than 30 percent of the country’s economy, or gross domestic product (GDP).

“Even more significantly, it will help restore jobs and incomes for our compatriots and allow them and their families to enjoy the Christmas season,” Lim said.

The National Economic and Development Authority said earlier that extended community quarantine restrictions had a greater impact on workers, as the number of unemployed Filipinos reached 4.25 million in September, leading to a unemployment rate of 8.9%.

The latest unemployment rate is the highest since the 8.7% recorded in January 2021. It is also higher than the 8.1% recorded in August.

On November 4, the interagency working group approved the de-escalation of the NCR alert level from November 5 to 21, 2021.

The private sector is calling for a change in the alert level of Metro Manila.

Below Alert Level 2, indoor sites can handle a maximum capacity of 50% for fully vaccinated people and those under 18, even if they are not vaccinated. External sites, on the other hand, are allowed to accept up to 70% of their capacity.

“We find that the guidelines primarily limit the benefit of the declaration to fully immunized people. With this in mind, we hope the government will continue its efforts to vaccinate as many people as possible as soon as possible, ”Lim said.

Currently, more than 61 million COVID-19 vaccines have been administered nationwide. In Metro Manila, at least 88 percent of targeted residents are fully immunized.

“We strongly urge our compatriots to get vaccinated not only for the good of their families but also for the good of the country,” Lim said.

“We also urge our people to continue to respect the health protocols put in place by the government. This is the perfect time to show that the spirit of Christmas is truly in our hearts, ”he concluded. ###


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Broadleaf Selected for Digital Transformation Projects in Asia (ADX) – Manila Newsletter https://apasl2019manila.org/broadleaf-selected-for-digital-transformation-projects-in-asia-adx-manila-newsletter/ https://apasl2019manila.org/broadleaf-selected-for-digital-transformation-projects-in-asia-adx-manila-newsletter/#respond Sat, 06 Nov 2021 01:56:00 +0000 https://apasl2019manila.org/broadleaf-selected-for-digital-transformation-projects-in-asia-adx-manila-newsletter/ broadleaf Broadleaf Co., Ltd. (Headquarters: Shinagawa City, Tokyo; Representative Director and Chairman: Kenji Oyama; hereinafter “Broadleaf”), an IT developer and service provider focused on the automotive aftermarket industry, has announced that its proposal is ‘called: “Pilot Project for an Intelligent Mobility Platform in the Philippines”, was selected by the Japan Foreign Trade Organization (hereinafter “JETRO”) […]]]>
broadleaf

Broadleaf Co., Ltd. (Headquarters: Shinagawa City, Tokyo; Representative Director and Chairman: Kenji Oyama; hereinafter “Broadleaf”), an IT developer and service provider focused on the automotive aftermarket industry, has announced that its proposal is ‘called: “Pilot Project for an Intelligent Mobility Platform in the Philippines”, was selected by the Japan Foreign Trade Organization (hereinafter “JETRO”) for Digital Transformation Projects in Asia (ADX) (administered by JETRO) and will be implemented by the AEM-METI Economic and Industrial Cooperation Committee (hereinafter “AMEICC”) as part of the supplementary budget for fiscal year 2020 of the Ministry of the Economy, Trade and Industry (hereinafter “METI”).

Context of the application for digital transformation projects in Asia (ADX)

Broadleaf has made Digital Transformation (DX) the main theme of its medium-term management plans from 2021 to 2023. It has also positioned the development of a MaaS (Mobility as a Service) platform as one of their priorities. strategic for this period. Broadleaf believes that a MaaS platform has the potential to improve the convenience of daily life, narrow the mobility gap, and reduce the environmental impact of transportation for people in the Philippines and other countries. from ASEAN.

In addition, Broadleaf participated in a new public transport model project in Pasay City, Philippines National Capital Region, which was launched in December 2020. As Broadleaf has already developed the basic functions of the system and established a framework for the implementation of the project, while also having experience of working with local companies in the Philippines, he felt that the model project met the objectives of the Digital Transformation Projects in Asia (ADX), which led to the decision to submit a proposal for the program.

Aim of the pilot project

The Philippines faces major challenges such as chronic traffic jams and environmental pollution due to its rapid urbanization and increasing population density. As the government encourages the electrification of public transport services as part of its environmental measures, there is an urgent need to improve the profitability of services in order to accelerate the introduction of expensive electric vehicles. With the adoption of its pilot for Digital Transformation Projects in Asia (ADX), Broadleaf aims to use the knowledge it has gained so far to establish a new regional transport model in the Philippines through a public partnership. -private with METI, AMEICC, and JETRO.

Pilot project details

The pilot project, which will be carried out in the Philippines in collaboration with a local partner company, Angat Pilipinas Transport Cooperative (hereinafter “APTC”), will include the following:

1) Provision of an electronic payment system for payment of cashless transport tickets and boarding reservations.

2) Provision of an operational management system to view vehicle locations, manage vehicle dispatch schedules, etc.

3) Introduction of a MaaS platform that integrates the Big Data analysis infrastructure collected from these systems.

Model diagram of the pilot project

The local partner company, APTC, is a transport cooperative operated by the National Council for Solo Parents (hereafter “NCSP”), a large NPO that supports single parent households across the Philippines, has the following three objectives for the project :


1) Use the profits from its transport activity to finance activities aimed at supporting single-parent households.

2) Create employment opportunities for single-parent households.

3) Achieve decarbonization by adopting environmentally friendly electric vehicles.

Broadleaf strongly agrees with the activities of the NCSP and the APTC, including their support for single parent households and doing business in an environmentally responsible manner.

Through this pilot project, Broadleaf aims to reduce greenhouse gas emissions and traffic congestion by increasing the use of electric tricycles. The great versatility of the cloud-based MaaS platform developed and provided by Broadleaf allows the platform to be applied not only to electric tricycles, but to all mobility services, including those using four-way vehicles. and two wheels. Broadleaf believes the platform will help establish a new regional transportation model. In addition, through its collaboration with APTC, Broadleaf will help address various social issues facing the Philippines, such as creating jobs for single parent households, while also contributing to the achievement of the SDGs.

About Digital Transformation Projects in Asia (ADX)

The aim of this initiative is to solve economic and social problems in the ASEAN region and promote the social implementation of digital innovation as a joint ASEAN-Japan effort through the support of pilot projects using digital technology carried out in collaboration between Japanese and local companies.

About the Angat Pilipinas Transport Cooperative (APTC)

APTC is a transport business cooperative operated by NCSP, a large NPO that supports single parent households across the Philippines. It offers an exclusive premium service for single parent households and also offers discounted services to NCSP members.

In addition, by adopting electric vehicles eligible for the Utility Vehicle Modernization Program (PUVM), a program promoted by the Philippine Department of Transportation, and using a platform that integrates the modes of operation of tricycles, secondary modes of transport and jeepneys, which are used to provide last mile service, which are routes from major stations to shopping districts and other destinations, this platform enables vehicle dispatch, payment and operations management. Both modes use environmentally friendly electric vehicles. Finally, the drivers will benefit from generous social benefits in addition to their regular remuneration within the framework of a social program.


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Low Covid Case Ticket For Merry Christmas https://apasl2019manila.org/low-covid-case-ticket-for-merry-christmas/ https://apasl2019manila.org/low-covid-case-ticket-for-merry-christmas/#respond Thu, 04 Nov 2021 16:19:22 +0000 https://apasl2019manila.org/low-covid-case-ticket-for-merry-christmas/ Presidential Advisor for Entrepreneurship and Founder of Go Negosyo, Jose Maria “Joey” Concepcion 3rd PRESIDENTIAL Entrepreneurship Advisor Jose Maria “Joey” Concepcion 3rd said on Thursday that the drop in new Covid-19 cases shows that the strict measures previously imposed by the Metro Manila government are working, creating a path towards a merry Christmas this year. […]]]>

Presidential Advisor for Entrepreneurship and Founder of Go Negosyo, Jose Maria “Joey” Concepcion 3rd

PRESIDENTIAL Entrepreneurship Advisor Jose Maria “Joey” Concepcion 3rd said on Thursday that the drop in new Covid-19 cases shows that the strict measures previously imposed by the Metro Manila government are working, creating a path towards a merry Christmas this year.

Concepcion, who is also the founder of Go Negosyo, said the drop in new Covid-19 cases to just 1,591 on November 3 is a justification for his controversial call for an enhanced community quarantine (ECQ) in the region of national capital (RCN) in August.

“When I called for an early lockdown to be implemented in the National Capital Region in the first week of August, not everyone was happy. They said that was not the cure and that it would cost the economy and lead to job losses. “said Concepcion.

“If we had [not] entered this lockdown in August, we would not look forward to a Merry Christmas just yet, ”he added.

Covid-19 cases began to increase in mid-2021, following detection of the highly contagious Delta variant of the virus.

Concepcion, taking into account advice from experts at OCTA Research, called for NCR to be submitted to the ECQ, the government’s toughest lockdown protocol.

“The Philippines then recorded a moving average of over 7,000 cases per day, which continued to climb steadily to 10, 12, 14,000 cases at the beginning of August. ” he said.

Business groups have warned that lockdown at this point would result in the loss of billions of pesos and job loss, with some going so far as to question the credibility of OCTA Research, an independent and interdisciplinary research group. .

Since the start of the pandemic, OCTA Research has been providing analyzes and projections of Covid-19 cases based on data provided by the government.

Concepcion defended the agency, saying it had a proven track record in data analysis and cited their projections when he stood firm and called for an ECQ in the NCR.

Go Negosyo founder explained that sacrificing the first two weeks of August would save the critical fourth quarter of the year, when consumer spending will be highest due to the Christmas season and the upcoming elections in May. 2022.

He said that clearing a clear path for businesses would also boost confidence in banks, which could then start lending money restructuring loans to businesses.

Concepcion has found allies in the mayors of the NCR, who have joined his call for the implementation of a strict lockdown in the capital region.

“The NCR mayors knew the situation on the ground and the consequences of not acting quickly. They joined in and that was enough to convince the IATF to put the NCR on ECQ in the first two weeks of the process. August, “he said.

As expected, Covid-19 cases started to climb in the last weeks of August and reached more than 20,000 new cases on multiple occasions in September.

But in October, cases fell sharply, ultimately ending in levels not seen since the Delta variant first appeared in the country.

“So, yes, I feel justified. The decision to close in early August was counter-intuitive. By nature, all businessmen should be prepared to take every opportunity to do business. Any event that prevents them from doing business. to do so must be seen as a loss and resisted at all costs, ”Concepcion said.

“But real life tells us that the way forward isn’t always a straight line. Sometimes you have to turn around to go forward and go even further than if you had been stubborn and insisted on forcing. your way in that straight line, “he added.

At the start of the pandemic in 2020, Concepcion worked to create visibility of cases through testing, which was quite expensive then due to the demand for testing kits.

He went on to advocate for “bakuna bubbles”, where fully vaccinated individuals are granted more mobility to help maintain economic activity, but have been seen by some sectors as discriminatory.

Concepcion now aims to increase immunization levels in provinces, where vaccine reluctance remains high.

“Vaccines work. They protect people from serious infections and hospitalizations. Even if the number of infections starts to rise, if the LGU (local government units) has vaccinated 70 percent or more of its citizens, it hasn’t there will be no need to worry that there will be another lockdown. Although we cannot increase the hospital capacity, we can reduce the number of people having to go to the hospital, “he said. declared.

“We have to have a common goal. I think the only way to fully open the economy is to vax as much as possible. Vaccinate as many people as possible, as quickly as possible,” Concepcion added.


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GDP likely beats pessimistic third quarter forecast – Manila Bulletin https://apasl2019manila.org/gdp-likely-beats-pessimistic-third-quarter-forecast-manila-bulletin/ https://apasl2019manila.org/gdp-likely-beats-pessimistic-third-quarter-forecast-manila-bulletin/#respond Wed, 03 Nov 2021 06:33:00 +0000 https://apasl2019manila.org/gdp-likely-beats-pessimistic-third-quarter-forecast-manila-bulletin/ The Philippine economy could likely outperform the pessimistic outlook for the third quarter following strong performance in the manufacturing sector, First Metro Investment Corp. said. (FMIC) and the University of Asia and the Pacific (UA&P) in a joint report. In the October issue of the Market Call, FMIC and UA&P said the most recent economic […]]]>

The Philippine economy could likely outperform the pessimistic outlook for the third quarter following strong performance in the manufacturing sector, First Metro Investment Corp. said. (FMIC) and the University of Asia and the Pacific (UA&P) in a joint report.

In the October issue of the Market Call, FMIC and UA&P said the most recent economic data suggested third-quarter gross domestic product (GDP) growth should dispel some of the pessimism after a lockdown is imposed. stricter in Metro Manila from July to August.

In particular, FMIC and UA&P reported that manufacturing activity increased in September, the highest in six months. Likewise, manufacturing output maintained its triple-digit acceleration rate in August.

In addition, exports and imports of capital goods increased by 17.9% and 17.6% respectively in August.

The FMIC and the AU&P also noted that the economy created 2.6 million jobs, recouping 75 percent of the 3.4 million lost in July.

In addition, national government spending also increased by 34.2% in August compared to the previous year.

Public spending accelerated during the month mainly due to financial assistance to households affected by the implementation of the two-week reinforced community quarantine (ECQ).

“Philippine economic data released from September to early October did not somehow match the common observation that third-quarter GDP growth would be very bad,” they said in a released report. Wednesday November 3.

“Surprisingly, the manufacturing sector showed more exuberance than expected, with more than 400% year-on-year gains in June-August,” the report said.

However, FMIC and UA&P stressed that the economic performance of the last quarter would not be close to the 11.8% recorded in the second quarter.

Meanwhile, the FMIC and AU&P expect inflation to remain high, and possibly up to five percent last month due to the lagged effect of the further surge in oil prices. raw.

“However, we still see headline inflation falling below 4% from December, as the huge rise from November-December 2020 would not be repeated,” the report said.

The FMIC and AU&P have said that Bangko Sentral ng Pilipinas’ monetary policy is expected to remain unchanged for the remainder of the year, with the central bank remaining in favor of the growth imperative.


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PCCI supports Alert Level 2 – Manila Bulletin https://apasl2019manila.org/pcci-supports-alert-level-2-manila-bulletin/ https://apasl2019manila.org/pcci-supports-alert-level-2-manila-bulletin/#respond Tue, 02 Nov 2021 06:23:00 +0000 https://apasl2019manila.org/pcci-supports-alert-level-2-manila-bulletin/ PCCI supports alert level 2 The Philippine Chamber of Commerce and Industry (PCCI), the country’s largest trade organization, expresses support for the proposal to upgrade the National Capital Region to Alert Level 2 within the next 14 days and to the gradual increase in passenger capacity in public transport. by 70% at full capacity from […]]]>

PCCI supports alert level 2

The Philippine Chamber of Commerce and Industry (PCCI), the country’s largest trade organization, expresses support for the proposal to upgrade the National Capital Region to Alert Level 2 within the next 14 days and to the gradual increase in passenger capacity in public transport. by 70% at full capacity from November 4.

pci

“Relaxing the restriction to Alert Level 2, which will allow most businesses to operate, and restaurants to increase the capacity of authorized diners is a good move, especially now that we enter the Christmas season. and that there is an increase in consumer spending “, PCCI President, Amb. Benedicto Yujuico said in a statement.

“Increasing the capacity of public transport will also support the revitalization of businesses and the economy,” Yujuico added.

Yujuico pointed out that businesses have lost so much money and opportunities over the past two years that it is essential that the economy be fully open as soon as possible to allow businesses to recover and recoup their losses. Health and safety protocols, he stressed, will continue to be applied.

As the infection rate has declined, Yujuico urged ramping up vaccination across the country to help MSMEs in regions, many of which are in service industries.

Yujuico noted that other ASEAN countries like Thailand and Singapore have opened up their economies, including hotels, travel and tourism, which the Philippines should consider doing to slowly recover and rebuild the economy.


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