Metro Manila office vacancy seen below 20% by yearend

May 6, 2025 | 12:02 am

Office-space-employees — LYCS ARCHITECTURE-UNSPLASH

By Beatriz Marie D. Cruz, Reporter

OFFICE VACANCY in Metro Manila is expected to fall below 20% by the end of this year, as most Philippine offshore gaming operator (POGO) occupiers have left the market, with vacancies offset by demand from the information technology and business process management (IT-BPM), healthcare, and banking industries, according to real estate services and investment firm CBRE.

“I think we’re going to definitely go below 20% by the end of the year, as we will see less vacated spaces from the POGO sector,” CBRE Philippines Country Head Jie C. Espinosa told BusinessWorld on the sidelines of the CBRE Philippines Start of the Year 2025 Market Monitor, a forum held last week.

“The main reason why vacancy had increased in the past two quarters is primarily because of the POGO ban, but now that we’ve seen the bulk of it, I think that the situation will be better, provided that the demand figures will be sustained as well.”

Office vacancy in Metro Manila rose to 20.1% in the first quarter from 19.9% in the third and fourth quarters of 2024, after President Ferdinand R. Marcos, Jr. banned POGOs in August last year.

Demand from the IT-BPM, healthcare, and banking, financial services, and insurance sectors helped absorb the vacancies left by POGO move-outs, Mr. Espinosa said.

The Metro Manila office market saw a 7% year-on-year decline in demand to 161,500 square meters (sq.m.) amid the absence of POGOs, CBRE said.

Office vacancy in Metro Manila climbed to a record-high 966,700 sq.m. from January to March — the highest in three years, or since the 960,140 sq.m. recorded in the first quarter of 2022. This also accounted for 53% of the available supply in the market.

POGOs accounted for 42% of move-outs in the first quarter, followed by the IT-BPM sector (35%) and traditional offices (23%).

By submarket, the highest number of vacated spaces was recorded in Makati at 226,600 sq.m., followed by the Bay Area at 210,000 sq.m., and Quezon City at 204,700 sq.m.

As of the first quarter, Metro Manila had a total office supply of 1.81 million sq.m., with 822,700 sq.m. in unleased space and 24,600 sq.m. in new supply.

For Metro Manila, CBRE expects about 389,600 sq.m. of new office supply in 2025, 332,900 sq.m. in 2026, 168,400 sq.m. in 2027, 188,500 sq.m. in 2028, and 211,000 sq.m. in 2029.

Meanwhile, the industrial and logistics sector recorded lackluster demand at 54,130 sq.m., plunging by 53.34% from the 116,000 sq.m. posted in the fourth quarter of 2024. It also fell by 45.32% from the 99,000 sq.m. in the same period last year.

This mainly covers the industrial and logistics hubs of Cavite, Laguna, and Batangas (CALABA), CBRE said.

The overall vacancy rate for the CALABA industrial submarkets rose to 9.6% in the first quarter from 9.2% in the fourth quarter last year, Zoilo L. Paras, senior manager for capital markets and investments at CBRE, said.

“We already noted some large manufacturing clients of ours that paused or deferred their requirement, primarily because they were waiting for what’s going to happen after [US President Donald J.] Trump takes office,” Mr. Paras said after the briefing.

As of end-March, the CALABA industrial market had 619,510 sq.m. of total available warehouse space. Of this, 270,575 sq.m. are in Laguna, 188,470 sq.m. in Batangas, and 160,466 sq.m. in Cavite.

In the coming months, the industrial and logistics sector may benefit from the Philippines’ relatively lower US tariff rate of 17%, the second lowest among the Association of Southeast Asian Nations countries.

Mr. Trump in April announced a 90-day pause on reciprocal tariffs with the United States’ trading partners but retained a 10% levy on most US imports.

“The Philippines is poised to benefit from all the regional shifts happening in the manufacturing sector across the region brought about by the reciprocal tariffs,” Mr. Paras said. “However, our limited and aging inventory could cause us to miss out on this opportunity.”

For instance, a typical manufacturing facility relocating from China would require 15,000 to 30,000 sq.m. of space. However, many of the country’s available spaces range from 3,000 to 5,000 sq.m. and are mostly over 10 years old, Mr. Paras noted.

To attract foreign investors, industrial and logistics developers must also incorporate modern and sustainability features in their facilities, he added.

About 79,669 sq.m. of upcoming industrial space is expected this year, CBRE said, with most of the supply coming from Laguna at 65,994 sq.m., followed by Cavite (7,486 sq.m.) and Batangas (6,189 sq.m.).

WTO: How the Philippines’ commercial services trade compares with its peers in the region

May 6, 2025 | 12:02 am

The Philippines’ commercial services export value amounted to $52 billion in 2024, accounting for 0.7% of the world total, based on the latest edition of the Global Trade Outlook and Statistics by the World Trade Organization (WTO). This placed the country 22nd among 30 leading countries and territories. Meanwhile, the country’s imports of such services reached $37 billion, representing 0.6% global share. It ranked 25th among 30 leading countries and territories.

Spain’s blackout and lessons for the Philippines

May 6, 2025 | 12:02 am

The big blackout that hit Spain, Portugal, and parts of southern France on April 28 starting 12:35 p.m. was a big blackeye to pushers of more intermittent renewables in the electrical grid.

According to energy analyst Javier Blas’ data, at 12:30 p.m. of April 28, Spain’s generation mix was: solar (photovoltaic and thermal) 65.8%, wind 12%, nuclear 11.6%, cogeneration and waste 4.7%, and gas combined cycle 3.4%, likely working as an ancillary service. Coal is zero because the socialist government of Spain shut down the last coal plant in 2024. So intermittent solar-wind was providing nearly 78% of the power just five minutes before the blackout. Even with batteries, these technologies do not have the inertia needed to keep the electricity flowing, unlike turbines powered by thermal fossil fuels and nuclear at significant levels.

Many Europeans are engrossed with solar power, even if their capacity factor — or the percentage of actual generation compared to stated and installed capacity — is very low, usually between 8% to 17% only. Meaning if they put up a 1,000-megawatt (MW) solar plant, it can generate only 80 to 170 MW on average (with zero output at night, and low output at daytime when it is cloudy, raining, or snowing).

I computed the implied capacity factor (ICF) of solar using a simple formula, ICF % = MWH/(installed capacity in MW x 24 hours/day x 365 days/year x 100). In 2023, solar-enthralled Germany and Spain had an ICF of only 8.5% and 17.2%, respectively. Globally the average ICF is only 13% (see Table 1).

In 2023, wind-mesmerized Germany, Spain, and the UK had wind/total generation shares of 27.7%, 22.8%, and 28.7%, respectively. France, the most nuclear-intensive country in the world (providing up to 80% of its total power few years ago) is the largest electricity exporter in Europe. The UK has an outlier situation: as it adds more wind and solar, its total power generation declines.

In contrast, Asian nations like China and Vietnam that use lots of coal power have consistently rising total power generation (see Table 2).

The numbers for the UK are released quarterly, so to make it consistent, I got the average per month for the highest and lowest quarterly data.

LESSONS FOR THE PHILIPPINES
I saw a LinkedIn post by Meralco Power Gen (MGEN) President and CEO Emmanuel V. Rubio. I agree with what he wrote that “The Philippines cannot afford situations where power is unavailable. That’s why we must continue investing on a well-designed portfolio of new power plants to meet current demand with the right amount of reserves. We should also modernize and strengthen our energy transmission and distribution infrastructures to cope with the variability of current renewable energy technologies. On top of these are regulations, programs, and policies to encourage investments in energy infrastructure. The most expensive electricity is no electricity at all.”

Talking about transmission infrastructure, I saw an infographic from the National Grid Corp. of the Philippines (NGCP) showing that in 2025, they have available and excess transmission capacity of 3,330 MW in Luzon, 2,372 MW in the Visayas, and 1,120 MW in Mindanao, for a total of 10,260 MW nationwide. So, they are inviting power generators to connect to their facilities. This is the good news.

The bad news is that many proposed and incoming generation capacities are situated far away from the existing transmission infrastructure.

To help avoid a humiliating nationwide blackout like that of Spain and Portugal, is to use hydro pumped storage technology as an ancillary service in the grid. When I was in China last month, among the things I saw aside from many road and rail tunnels under many hills and mountains — was the Fengning pumped hydro storage plant in Hebei province, owned by the State Grid Corp. of China (SGCC).

It is the biggest pumped storage plant in the world at 3,600 MW (300 MW x 12 units). It was finished only last year. It uses beautiful physics and engineering theory, pumping the water down to the turbines when they need extra electricity, then pumping the water up for storage and later use.

Water from rivers is stored thrice — first in the Upper Reservoir, with a capacity of 45 million cubic meters (mcm); then the Lower Reservoir, with a capacity of 72 mcm; and finally in another reservoir with nearly 14 mcm. So, the three reservoirs have a total capacity of 131 mcm, each with a dam crest elevation of 1,066 to 1,510 meters, and they can generate 3,600 MW of electricity.

Our Angat Dam has around a capacity of 850 mcm and a hydroelectric capacity of only 246 MW. Angat is used mainly for potable water in Metro Manila and surrounding provinces. But there is no conflict between hydroelectricity use and potable water use because the water from hydro plants goes back to the river after moving the turbines, for potable and irrigation water use.

One possibility is for the Maharlika Investment Corp. (MIC) to partner with generation companies with existing expertise in hydro power plants, like Aboitiz Power and San Miguel Global Power, to put up pumped hydro storage plants of several hundred MW capacity upstream of Angat. The transmission capex will not be big because there is an existing transmission line in the hydro plant. Right of way troubles can be minimized because MIC has political muscle, being a government corporation, and it has recently invested in the NGCP via board seats at the Synergy Grid and Development Philippines (SGP).

Blackouts are ugly, uncomfortable, costly, and so Third World. Even frequent one-minute blackouts can damage appliances and bulbs. Abundant electricity supply, energy security — we should have them always.

Bienvenido S. Oplas, Jr. is the president of Bienvenido S. Oplas, Jr. Research Consultancy Services, and Minimal Government Thinkers. He is an international fellow of the Tholos Foundation.

minimalgovernment@gmail.com

Concreat hopes turnaround within 3 years

May 6, 2025 | 12:01 am

Solid Cement_Rizal — Solid Cement Corp. Plant in Antipolo, Rizal

CONCREAT Holdings Philippines, Inc. (CHP), the cement producer led by the Consunji group and formerly known as Cemex Holdings Philippines, Inc., is banking on recovering demand and opportunities arising from the national housing backlog to drive a turnaround within the next three years.

“Our team in CHP is committed to find solutions to turn the company around in three years’ time,” CHP President and Chief Executive Officer Herbert M. Consunji said during the company’s virtual annual stockholders’ meeting on Monday.

Mr. Consunji said the company is cautiously optimistic about its prospects as it identifies opportunities. For 2024, CHP widened its net loss to P23.4 billion, as revenue declined by 7% to P16 billion due to weak demand.

“We believe demand will recover over the medium term. Infrastructure continues to be a government priority, backed by spending commitments of at least 5% of gross domestic product,” he said.

“Cement consumption per capita in the Philippines remains well below regional benchmarks, suggesting strong room for growth. And the projected housing backlog, expected to reach 10 million units by 2028, presents significant upside for the industry,” he added.

However, Mr. Consunji said near-term challenges could constrain the company’s recovery.

“The cement business is highly competitive, and global challenges from trade tensions to recession risks and geopolitical uncertainty can weigh down costs, pricing, and demand,” he said.

“Turning around a company takes time, discipline, and consistency. But we are confident that the steps we are taking today are steering CHP toward strength, efficiency, and long-term competitiveness,” he added.

Consunji-led firms DMCI Holdings, Inc., Dacon Corp., and Semirara Mining and Power Corp. acquired a majority stake in CHP in December last year under a $272-million deal.

“The road ahead will not be easy, but I have full confidence in our people’s ability to bring CHP back to financial strength and market relevance,” CHP Chairman Isidro A. Consunji said during the meeting.

Last week, CHP announced the launch of a new production line at its Solid Cement Plant in Antipolo City, raising its total annual plant capacity to 7.2 million metric tons, up 26% from 5.7 million metric tons.

CHP is a 51%-owned subsidiary of DMCI Holdings. It produces cement under the brands APO, Rizal, and Island, including ordinary portland cement. The company’s subsidiaries include APO Cement Corp. and Solid Cement Corp.

On Monday, CHP shares rose by 2.29% or three centavos to P1.34 each. — Revin Mikhael D. Ochave

Entertainment News (05/06/25)

May 6, 2025 | 12:01 am

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CreaZion Studios releases Kabisera supercut

THE 2016 Metro Manila Film Festival entry Kabisera is now available for free on YouTube, as a tribute to two beloved actors in Philippine cinema who have recently passed away: the late National Artist Nora Aunor and the late television director and actor Ricky Davao. This edition of Kabisera, released by CreaZion Studios, aims to revisit the acclaimed sociopolitical drama and celebrate both actors’ legacies. It follows a family grappling with the harsh realities of extrajudicial killings and political abuse. It is available to stream via YouTube.

Paolo Sandejas, Clara Benin collab on folk-pop track

FILIPINO singer-songwriter Paolo Sandejas has tapped indie-folk favorite Clara Benin for a new version of his song “Roses.” Fresh from his recently released debut album, the world is so small, the track reimagines the original tune, after the two artists met over Zoom and exchanged ideas and recordings. Produced by longtime collaborator Xergio Ramos, Ms. Benin’s contributions to Mr. Sandejas’ song went beyond her voice; she also honed the harmonies and vocal arrangements. “Roses” is now out on all music streaming platforms.

Last Mission: Impossible out this May

PARAMOUNT Pictures and Skydance are presenting the final installment of Tom Cruise’s Mission: Impossible series. Mission: Impossible – The Final Reckoning takes the cast and crew to the Arctic, where Mr. Cruise reprises the role of Ethan Hunt. Christopher McQuarrie is the film’s director. The film also stars Hayley Atwell, Ving Rhames, Simon Pegg, Esai Morales, Pom Klementieff, Henry Czerny, Holt McCallany, Janet McTeer, Nick Offerman, Hannah Waddingham, Tramell Tillman and Angela Bassett. It will be out in all cinemas on May 17.

Singer Zsa Zsa Padilla marks 4 decades with concert

ON MAY 17, Zsa Zsa Padilla will be taking the stage at the Samsung Performing Arts Theater in Makati City for her 42^nd anniversary concert, Through the Years. The concert aims to be “a grand celebration of her journey, spanning four decades of music, love, and life.” She will share the stage with iconic collaborators, including Gary Valenciano and Erik Santos; plus her children Zia Quizon and Karylle. The concert will be under the creative direction of director Rowell Santiago, with Homer Flores as musical director. Tickets are available via TicketWorld.

Everything About My Wife goes to Hong Kong, Macau, UAE

THE romantic-comedy film Everything About My Wife, produced by CreaZion Studios, GMA Pictures, and Glimmer Studios, is set to premiere internationally this May. It show in cinemas in Hong Kong and Macau on May 8, and in the United Arab Emirates on May 23. Directed by Real Florido and written by Rona Co, the film stars Jennylyn Mercado and Dennis Trillo as a married couple who find themselves at a crossroads seven years in, with Sam Milby playing a potential third party in their relationship.

Dylan biopic A Complete Unknown on Disney+

THE Oscar-nominated biopic on American folk musician Bob Dylan, A Complete Unknown, will be arriving on the Disney+ streaming platform on May 21. Directed by James Mangold, the film invites Bob Dylan fans to revisit their favorite songs and younger audience members to get to know the 1960s icon through his rapid ascent in folk music. It stars Timothée Chalamet as Dylan, with Edward Norton, Elle Fanning, and Monica Barbaro in the supporting cast.

Netflix hosts live event Netflix Tudum 2025

TO CELEBRATE the global fandoms of Netflix’s popular series and movies, the streaming service will be holding a live event titled “Netflix Tudum 2025.” The high-energy show will be streamed on the platform on May 31 at 8 a.m. (Philippine time), live from the Kia Forum in Los Angeles. The show will be packed with stars, exclusive reveals, and live performances aimed at fans around the world. The show can be streamed from this link: www.netflix.com/TUDUM.

Season 3 of The Summer I Turned Pretty out in July

THE 3^rd season of Prime Video’s global hit series, The Summer I Turned Pretty, will premiere in July, as announced by the platform in a short teaser. It revealed that the coming-of-age drama will launch on July 16, featuring 11 episodes, exclusively on Prime Video. Led by showrunners Jenny Han and Sarah Kucserka, the new season will continue to follow Lola Tung as Belly as she navigates first love and growing up, and is caught in a love triangle between two brothers.

Ed Sheeran announces new album, releases song

THE new album by Irish singer-songwriter Ed Sheeran, titled Play, is slated to be released on Sept. 12. In the meantime, he has come out with a song, “Old Phone,” from the album. The album aims to “explore new musical ground through collaboration with producers and musicians from around the world.” His most recent song, “Azizam,” revealed how Mr. Sheeran was inspired by his exposure to the Persian musical culture. “Old Phone” narrates the disorienting act of reconnecting with the past. It is out now on all digital music streaming platforms.

Wednesday S2 to drop in 2 parts in August, September

JENNA ORTEGA will reprise her iconic role as Wednesday Addams in the forthcoming second season of Wednesday. The fan-favorite Netflix show will be a two-parter, with part one launching on Aug. 6 and the second part coming on Sept. 3. The show will continue to follow the titular character’s adventures at Nevermore Academy, where more supernatural mysteries await. Creator/showrunners Alfred Gough and Miles Millar will be back, alongside executive producer and director Tim Burton.

Incubus reveals new album title

AMERICAN rock band Incubus has unveiled the title of their upcoming album: Something in the Water. The record will be out later this year on Virgin Music. It is their ninth studio album, and the first one since 2017. Lead singer Brandon Boyd called it “a really great record” that all the band members are proud of. The album also marks their first with new bassist Nicole Row.

GCash, Cebuana Lhuillier Bank launch savings account via GSave

May 6, 2025 | 12:01 am

ELECTRONIC WALLET GCash has partnered with rural lender Cebuana Lhuillier Bank to launch an in-app savings account that offers high interest rates.

Under the partnership, GCash users can open an eC-Savings by Cebuana Lhuillier Bank account through its app’s GSave feature.

“GCash and Cebuana are driven by the same mission of making financial services accessible to Filipinos nationwide, especially the underserved communities. Through this collaboration, we hope to empower Filipinos to cultivate their financial well-being by transforming saving from being a burden to being an actionable step,” GCash Group Head of New Businesses Winsley Royce Bangit said in a statement on Monday.

“Filipinos’ hardworking spirit deserves to be matched by financial services that work just as hard as they do, actively supporting their financial goals. By building upon the trust of millions of Filipinos in GCash and Cebuana, we hope to empower their aspirations for a secure future by making saving truly accessible and rewarding for all,” Mr. Bangit added.

The account offers a savings rate of 3.5% per annum regardless of deposit amount. GCash users who will open an account will get a P100 cashback on their initial deposit.

Users can deposit as low as P1 directly from their GCash wallets as the eC-Savings account does not have a maintaining balance requirement.

Accountholders will also get up to P33,000 in free accident insurance coverage, GCash said.

“While most hardworking Filipinos understand the value of having insurance, cost still prevents them from prioritizing it. We introduced this benefit so they no longer have to face a trade-off between building their savings and having peace of mind during their daily hustle,” Mr. Bangit said.

GCash users can open an eC-Savings account on GSave without having to submit additional IDs. Filipino citizens who are at least 18 years old and have fully verified GCash accounts can avail of the product. — A.M.C. Sy

Pag-IBIG Fund seeks more developer partnerships this year

May 6, 2025 | 12:01 am

THE Home Development Mutual Fund, or Pag-IBIG Fund, said it hopes to partner with more housing developers this year to broaden the availability of housing units and meet its target of extending P156.86 billion in housing loans in 2025.

“We intend to tap new developers, those who are not yet accredited. There are thousands of development projects around the country,” Alexander H. Aguilar, deputy chief executive officer of the member services cluster at Pag-IBIG Fund, told BusinessWorld on the sidelines of the Real Estate International Summit and Expo 2025, a forum held on Thursday.

Currently, Pag-IBIG Fund has around 467 partner developers. It plans to engage 250 more this year.

“We started talking to small, upcoming, emerging developers, and I hope that they will also bring more numbers,” Mr. Aguilar said.

For 2025, Pag-IBIG Fund aims to extend P156.86 billion in housing loans to its members, 21% higher than the P129.73 billion released last year.

This year’s target is also equivalent to 111,648 housing units, Pag-IBIG Chief Executive Officer Marilene C. Acosta said in April.

Last year, Pag-IBIG fell short of its P143-billion home loans target by 10%.

According to Mr. Aguilar, the housing industry is still reeling from the ill effects of the pandemic.

“There were not many socialized housing units built in 2024. So, that led to missing our target,” he said.

To meet this year’s housing loan target, Pag-IBIG is also set to launch housing caravans for overseas Filipino workers, who account for about 20-25% of its accounts.

It is also looking to reach out to more potential borrowers through increased advertisements and companies’ fund coordinators.

Last year, Pag-IBIG Fund’s net income climbed by 36% to a record P67.52 billion from P49.79 billion in 2023, driven by higher loans, collections, and investment returns.

Pag-IBIG ended 2024 with about 17 million members. It is looking to add at least 1.5 million new members this year, Ms. Acosta said. — Beatriz Marie D. Cruz

Manufacturing Purchasing Managers’ Index (PMI) of select ASEAN economies, April 2025

May 6, 2025 | 12:01 am

Democracy or Democrazy?

May 6, 2025 | 12:01 am

Election-voters — PHILIPPINE STAR/MIGUEL DE GUZMAN

The May 12 midterm general election is only days away. This election season once again confronted us with a dizzying barrage of Pinoy-style campaign messaging. Streets and media channels have been awash with banners, jingles, and carefully crafted soundbites. Familiar names — often dynastic or celebrity — have dominated airwaves and social media feeds. And just like in previous years, our national discourse slid further away from the serious and deliberative debate that democracy demands. In its place, we saw an avalanche of emotion-driven appeals, political spectacle, and superficial promises. We need to ask ourselves: Do we still have a functioning democracy — or have we descended into what some would call a “democrazy”?

I have always been frustrated by how we prioritize elections over everything else. At its core, democracy is not just about voting. It is about self-rule — people collectively identifying the common good and choosing leaders who are accountable to the will of the governed. In a republican democracy like the Philippines, this requires both a framework of laws that protect individual rights (protective democracy) and institutions that allow for meaningful public engagement beyond elections. But what we have seen for many decades instead is a degeneration of democratic practice into what political theorist David Held calls competitive elitist democracy — a system where elites compete for the people’s votes, while the public remains largely passive and disengaged.

The 1987 Constitution enshrines protective democratic principles: rule of law, separation of powers, checks and balances, and rights-based governance. But in practice, it is electoral competition among entrenched elites and personalities that dominates. With every election, more dynastic families consolidate power, and more celebrities enter politics with little scrutiny of their policy positions or governance plans. National development issues — corruption, quality jobs, poverty, inequality, education, sustainable development, even artificial intelligence — rarely find meaningful space in our campaign narratives.

The result? A widening gap between what democracy should be and what it has become.

Our political culture is deeply rooted in a feudal and cacique tradition, where power is not built on policy competence or civic virtue but on personal loyalty, patronage, and showmanship. Leaders are rarely held accountable for corruption, inefficiency, or incompetence. Impunity reigns, as evidenced by the outrageous behavior of some public officials — unchallenged, even rewarded, by a permissive media ecosystem.

The Philippine media ecology — dominated by social media — is central to our democratic crisis. As Zac Gershberg and Sean Illing have argued in The Paradox of Democracy, social media culture has eroded the conditions needed for liberal democracy to thrive. It accelerates misinformation, shortens attention spans, and replaces rational public debate with viral emotional appeals. Instead of forums for reflective discourse, our public spheres have become battlegrounds of noise, spectacle, and distraction. The entertainment industry’s logic — fame over substance — infects our politics.

Hence, it is no surprise that the Philippine National Police has already reported more than a dozen killings for this election cycle. When political contests are battles for control of wealth and influence rather than contests of ideas, violence follows. When democratic institutions are weak, and public reason is absent, chaos prevails.

So, where do we go from here?

First, we must animate the democratic ideal of our Constitution — the belief that the people, through reasoned and collective deliberation, can govern themselves. This begins with a cultural shift. Citizens must learn to identify public issues in terms of the common good, not just narrow interests. We need more civic education, media literacy, and critical thinking skills, especially for the youth. Public discourse must move beyond the binary of loyalism and opposition, and toward shared inquiry and constructive dissent.

Second, we must confront the accumulated political power of business and oligarchic interests that influence not just policy but even the choice of candidates. When economic elites shape political agendas, public welfare is sidelined in favor of private gain. A democracy where economic and political power is concentrated in the hands of a few is neither just nor sustainable.

Lastly, we must demand institutional reforms that promote real accountability. This includes strong anti-dynasty laws, campaign finance reforms, independent media, and mechanisms for citizen participation between elections. True democracy is not a one-day event at the ballot box — it is a continuing project of building and sustaining institutions that make the people’s voice matter.

If we continue down our current path — of emotional politics, dynastic control, media trivialization, and public disengagement — we risk the continued reduction of our democracy into farce. But if we act together in a sustained way beyond elections, we can reclaim its promise and fulfill our constitutional vision of shared prosperity and quality life for all.

Democracy must be defended — not just against tyrants, but against apathy, ignorance, and the seductive pull of democrazy.

Dr. Benito Teehankee is a full professor at the Department of Management and Organization of the Ramon V. Del Rosario College of Business at De La Salle University. He is the chairman of the Shared Prosperity Committee of the Management Association of the Philippines.

map@map.org.ph

benito.teehankee@dlsu.edu.ph

http://map.org.ph

How PSEi member stocks performed — May 5, 2025

May 6, 2025 | 12:00 am

Here’s a quick glance at how PSEi stocks fared on Monday, May 5, 2025.

Philippine jobs ‘exposed’ to AI risks estimated at 35-37%

May 5, 2025 | 9:39 pm

Job fair-applicants — JOBSEEKERS file application forms at a job fair at a mall in Manila. — PHILIPPINE STAR/EDD GUMBAN

BETWEEN 35% and 37% of Philippine jobs are at risk of displacement to artificial intelligence (AI), the World Bank said.

“About 35% to 37% are exposed” to AI risks, World Bank Group Lead Economist and Program Leader for the Prosperity Unit for Brunei, Malaysia and the Philippines, Gonzalo Varela told a panel on Monday.

He also noted the high adoption of generative AI in the operations of the Information Technology Business Process Management industry.

The IT and Business Process Association of the Philippines in December reported that 67% of its surveyed members are already using AI in customer service, data entry, and quality assurance, though challenges persist.

However, 8% of its members surveyed reduced their workforce because of AI.

In a separate report in August, the bank said the Philippines ranked fourth in ChatGPT traffic as of March 2024.

The World Bank noted that five middle-income countries — Brazil, India, Indonesia, Mexico and the Philippines — showed “generative AI traffic levels significantly higher relative to the US than their other metrics would suggest.”

Bilal Khan Muhammad, social sector economist at the Asian Development Bank, noted that AI advancements are now impacting white-collar jobs, with many tasks being performed by AI tools.

“But then with the recent advancements in AI, we also see white-collar jobs have also been replaced by these AI tools where we are seeing a lot of tasks now can be performed by the AI itself.

You just ask the AI to help you with the representation or format a document or help you prepare a draft,” he said.

Mr. Varela said AI could be a “productivity shock” and provide opportunities for workers in the Philippines.

The government’s Trabaho Para Sa Bayan plan needs to explore how “to take advantage of the technological changes that are going to affect job creation,” he added.

At the same event, the departments of Economy, Planning, and Development (DEPDev), Trade and Industry and Labor and Employment, launched the Trabaho Para sa Bayan Plan 2025-2034.

The 10-year plan aims to strengthen and future-proof the workforce.

The plan includes a research agenda to gauge the impact of AI on labor demand across various industries, job roles, and skill levels, and identify vulnerable occupations.

Labor Secretary Bienvenido E. Laguesma said the government has yet to firm up a national policy on AI.

“We believe that AI can supplement, can complement, but cannot replace,” he told reporters.

Mr. Laguesma noted that the National Innovation Council, chaired by President Ferdinand R. Marcos, Jr., approved the creation of a think tank which will create a roadmap for AI use.

The think tank, whose lead agency will be the Department of Science and Technology, will guide the drafting of AI policy.

“Protection does not mean retention. It could mean upgrading, looking for another job, facilitating their employment, and the provision of social safety nets. That’s where we are,” Mr. Laguesma said.

Meanwhile, DEPDev Undersecretary Rosemarie G. Edillon noted that the low exposure of AI stems from the overall low level of technology adoption in the Philippines.

“Underlying all this, especially on the part of data and then creating models, this is really where you will need this policy on ethics, on the use of AI,” she added. — Aubrey Rose A. Inosante

Energy dep’t outlines measures to ensure reliable power for polls

May 5, 2025 | 9:37 pm

linemen-electric line — PHILIPPINE STAR/MICHAEL VARCAS

THE Department of Energy (DoE) said on Monday that measures are in place to ensure stable and reliable power during the midterm elections, and also directed the removal of campaign materials attached to power infrastructure.

“The delivery of stable and reliable electricity is a national priority, especially during elections when the democratic process relies heavily on uninterrupted power,” Energy Secretary Raphael P.M. Lotilla said in a statement.

Mr. Lotilla said the DoE is working closely with the Commission on Elections (Comelec) and the energy industry “to ensure that the power sector infrastructure remains clear of any obstructions, especially those that endanger lives and disrupt essential services.”

Comelec has received reports of campaign materials being illegally affixed to power poles and cables.

“These practices not only breach election rules but also pose serious safety hazards and threaten the stable operation of the country’s power systems,” the DoE said.

In a virtual briefing, Energy Undersecretary Felix William B. Fuentebella affirmed the full readiness of the Energy Task Force Election.

“We’d like to assure everyone that the Energy Task Force Election is doing its best to ensure unimpeded power supply during the election period,” he said, adding that the task force is scenario planning to map out its planned responses.

The DoE said public and private energy companies conducted inspections and maintenance of critical infrastructure, including pre-election checks of polling and canvassing centers, particularly in critical areas identified by Comelec.

In off-grid and remote areas, distribution utilities overseen by the Small Power Utilities Group maintained lines to ensure continuous power supply.

Meanwhile, the National Grid Corp. of the Philippines conducted inspections and cleared its right-of-way areas along high-voltage transmission corridors, according to DoE.

“Contingency plans are in place, and we are in constant coordination with the security forces to help ensure a smooth and secure election,” Mr. Fuentebella said. — Sheldeen Joy Talavera