Author: ASEAN Tribune

Manila, Philippines – The Philippine economy is projected to maintain its robust growth trajectory despite challenges like high inflation and weaker external demand, according to the ASEAN+3 Macroeconomic Research Office (AMRO).

According to Philippines News Agency, In its 2023 Annual Consultation Report on the Philippines published on Monday, AMRO noted the sustained robust growth momentum of the Philippine economy in the first three quarters of 2023, following a significant rise in 2022. The country’s gross domestic product (GDP) grew by 5.9 percent in the third quarter, bringing the year-to-date economic growth to 5.5 percent. Despite weaker external demand, growth is expected to continue, supported by resilient household consumption, an improving labor market, lower inflation, robust overseas remittances, and increased government infrastructure spending. AMRO forecasts the Philippine economy to moderate to 5.6 percent in 2023 due to high base effects and weaker external demand, but it anticipates a rise to 6.3 percent in 2024 as external demand recovers. However, inflation is projected to remain high, driven by demand and supply shocks, with headline inflation expected to reach 6.0 percent in 2023 before moderating to 3.6 percent
in 2024. AMRO cited high core inflation, a positive output gap, and the second-round effects of minimum wage increases and high inflation expectations as contributing factors. The report also acknowledges the Philippine authorities’ efforts in addressing inflation through monetary and fiscal policy tightening and targeted subsidies for vulnerable sectors.

Manila, Philippines – Two Filipino crew members involved in a recent hijacking incident in the Gulf of Aden are now safe, as confirmed by the Department of Migrant Workers (DMW). The failed hijacking marks a significant incident in the region known for piracy threats.

According to Philippines News Agency, the U.S. Naval Institute (USNI) reported that United States Naval Forces successfully thwarted an armed hijacking attempt on the chemical tanker M/V Central Park, which had at least two Filipino seafarers on board. The incident occurred off the coast of Africa on Sunday. The DMW immediately began coordinating with the ship’s licensed manning agency and reached out to the families of the Filipino crew members following the incident. The department also contacted the Department of Foreign Affairs and international maritime partners to ensure the ongoing safety of Filipino seafarers in the region.

The USNI detailed that M/V Central Park, owned by an Israeli businessman, sent a distress call indicating it was under attack. The report stated that five armed individuals had boarded the tanker and attempted to take control. However, the crew managed to secure themselves in the tanker’s citadel, a fortified panic room, preventing the pirates from seizing them. Subsequently, the pirates abandoned the attempt and fled towards Yemen on a skiff. The guided-missile destroyer USS Mason (DDG-87) pursued and eventually captured the attackers, who are now detained for questioning.

In light of this and other incidents, the DMW is considering designating certain areas in the Red Sea as high-risk zones for Filipino seafarers and is coordinating with various stakeholders in the maritime sector.

Meanwhile, a separate but related incident involves 17 Filipino seafarers still held hostage aboard the Bahamas-flagged vehicle carrier Galaxy Leader. This vessel was hijacked by Yemen’s Houthi group on Nov. 19. International reports, citing the ship’s Japanese operator NYK Line, indicated that Galaxy Leader had no cargo at the time of the hijacking. The vessel’s crew includes nationals from Bulgaria, Romania, Ukraine, and Mexico, and it is reported to have been taken to the Houthi-controlled port of Hodeidah.

Santa Rosa City, Philippines – The Volleyball World Beach Pro Tour (BPT) Challenge Philippine leg is set to commence in Nuvali, Santa Rosa City, Laguna, with the arrival of players from 17 international teams on Monday. This event marks a significant gathering of elite volleyball talent in the region.

According to Philippines News Agency, teams from Japan, Canada, USA, China, Brazil, Spain, Austria, and Poland in the women’s division, and Turkiye, England, Australia, Ukraine, Italy, Lithuania, Portugal, and Finland in the men’s division have already arrived. More teams from The Netherlands, Switzerland, Czech Republic, Germany, Estonia, Oman, Thailand, Latvia, New Zealand, Israel, Gambia, Morocco, Malaysia, and Slovakia are expected to arrive later this week. Suzara expressed gratitude to Ayala Land for providing one training and five competition courts in Nuvali. The tournament will feature 16 teams in each of the men’s and women’s main draws, with an additional 32 teams competing in the qualification round for each gender. The qualification round is scheduled for Thursday, while the main draw will start on Friday, with the final match set for 9 p.m. The round-of-16, quarterfinals, semifinals, and finals will take place over the weekend. The event is supported by various sponsors, including Ayala Land, Mi
kasa, Senoh, Philippine Sports Commission, and others. Representing the Philippines in the tournament are teams led by players like Ran Abdilla, Jaron Requinton, James Buytrago, Rancel Varga, and others, coached by Brazilian coach Joao Luciano Kiodai and Mayi Molit-Pochina.

Cebu City, Philippines – In a statement on Monday, the National Bureau of Investigation (NBI) clarified that the individuals involved in a recent heist at a downtown pawnshop are not affiliated with the agency. This announcement follows the arrest of two suspects linked to the crime.

According to Philippines News Agency, NBI-7 Director Patricio Bernales Jr., in a statement, confirmed that the suspects apprehended in connection with the heist at Oro Sugbo Pawnshop and Jewelry along Colon Street were not NBI agents. This clarification comes after speculations that the culprits had posed as NBI agents during the robbery. Bernales, who personally visited the crime scene, highlighted that NBI operations are always marked with clear identification and badges. Cebu City Police Office chief Col. Ireneo Dalogdog reported the arrest of two suspects from Argao town, south of Cebu province, who were found with firearms and grenades in the get-away vehicle, which had a replaced license plate. The arrests were made two days after the incident in Barangay Lamacan, Sibonga town.

Manila, Philippines – The National Tobacco Administration (NTA) is actively promoting the versatility of tobacco plants beyond their traditional use in smoking products. This initiative is being led by the agency’s Industrial Research Department-Product Development Division.

According to Philippines News Agency, the chief science research specialist of the NTA, in an interview on Monday, the organization has been focusing on cultivating tobacco mainly for its leaves, but is now exploring a range of alternative applications. The NTA, in collaboration with local government units in tobacco-growing provinces like Ilocos Norte, is working on developing a variety of tobacco by-products. These include bio-pesticides, ointments and liniments for animals, handmade papers, and novelty items like wall dividers, baskets, hand fans, and wall decors. Maloom highlighted the environmental appeal of these biodegradable products as alternatives to synthetic pesticides and fertilizers, especially in the context of rising consciousness about environment-friendly technologies and the high cost of synthetic options. Furthermore, the potential of tobacco as a source of food and feeds is being explored, supporting the government’s food security program. These by-products are now ready for technology tr
ansfer and commercialization.

BATANGAS – The provincial government of Batangas is focusing on enhancing key industries to boost the local economy. In a recent interview, Governor Hermilando Mandanas emphasized the development of tourism, commercial fishing, logistics services, and information and communications technology (ICT) as central to the province’s economic strategy. Efforts are being made to leverage Batangas’ historical and natural assets, including the Verde Island Passage, Taal Volcano, and the Taal Basilica, to expand the tourism sector.
According to Philippines News Agency, Mandanas cited these attractions as significant drivers for tourism and related businesses. The province’s strategic position in terms of power generation, its role as a gateway for the nautical highway, and recognition as an ASEAN logistics hub were also highlighted. Recent partnerships with the private sector have positioned Batangas to support these industries effectively. Discussions with the Philippine Fisheries Development Authority regarding the construction of a regional food terminal are underway. The provincial government’s investment in planning and information technology was showcased at the first Batangas Local Economic Development and Investment Promotions Conference. Additionally, the ‘Paskong Batangueño sa Kapitolyo’ event, launched last Saturday, is part of a strategy to capture a larger share of the national holiday tourism market, including supporting local producers, farmers, and fisherfolk through community markets and food parks.