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Meeting int’l shipping norms to kick off maritime modernization

PIXABAY

PRESIDENT Ferdinand R. Marcos, Jr. ordered maritime regulators on Thursday to bring shipping practices into line with international standards, calling it the first step to modernizing and expanding the industry.

Mr. Marcos also raised concerns over high shipping costs in the meeting with maritime officials, and called for a medium-term plan to meet international standards and upgrade the training of seafarers.

The President called the industry’s operations “obsolete,” according to a Palace statement detailing the results of the meeting. 

Maritime Industry Authority (Marina) administrator Sonia Malaluan sought the President’s approval for a proposed development plan for the industry running until 2028, the components of which include shipping expansion, modernized shipbuilding, and skills upgrades for the industry’s workforce.

“Let us first standardize our systems,” Mr. Marcos said, “and at the same time… undertake the promotion of (our) highly skilled Filipino maritime workforce.”

“(In terms of) shipbuilding and ship repair, we haven’t done much to promote that. The rest are for further development,” he added. “Let’s standardize our practices so that we will be (in line with) our international counterparts.”

“We have to fix our house first because we have to compete and in order to do that we should have an even playing field, and then we should (seek to) gain an advantage.”

The Philippines is the world’s leading source of maritime manpower, supplying 25% of global seafarers, the President said. Seafarers sent home $6.71 billion in remittances last year.

Mr. Marcos over a year ago ordered the creation of an advisory board to address the concerns of the 600,000 Filipino seafarers deployed worldwide, following the Philippines’ failure to comply with European Union standards and an inspection by the European Maritime Safety Agency in March 2022.

At the meeting, Mr. Marcos noted that it is usually cheaper to ship cargo to the Philippines from overseas than it is to ship cargo from one domestic port to another.

In response, the maritime regulator, known as Marina, said domestic shipping is expensive because of excise taxes on fuel and lack of vessel scale.

International shipping is not subject to excise tax on fuel, Marina said, adding that vessels are smaller and less cost-efficient.

It also cited the lack of interest from foreign investors to participate in the shipping industry.

The Philippines in 2022 passed a law that amended the Commonwealth-era Public Service Act, allowing full foreign ownership in key domestic industries including shipping.

Marina has called for fleet modernization, adding that the Philippines still allows 20-year-old passenger ships to operate and 25-year-old vessels to haul freight. — Kyle Aristophere T. Atienza

Laguna de Bay set for aquaculture revival

PHILSTAR

THE Department of Agriculture (DA) said it is planning to improve the aquaculture output of Laguna de Bay to better supply Metro Manila and nearby provinces.

In a statement on Thursday, Agriculture Secretary Francisco Tiu Laurel, Jr., said the objective is to lower the cost of fish in the surrounding communities.

“Our aim is to produce more food at lower prices. For example, bring back bangus (milkfish) prices to P50-P70 per kilo. Maximizing the aquaculture potential of (Laguna de Bay) is essential to achieving that goal. If we can add more capacity, then let’s do it,” Mr. Laurel added.

Laguna de Bay currently produces about 90,000 metric tons of freshwater fish annually and provides livelihoods to 13,000 fisherfolk, according to the Laguna Lake Development Authority (LLDA).

The LLDA board includes the Departments of Environment and Natural Resources, and Trade and Industry; the National Economic and Development Authority, the Office of the President, and the Metropolitan Manila Development Authority.

The DA said that aquaculture associations from Laguna de Bay have asked the department to address falling yields due to the rising mortality of fingerlings and to make water quality more suitable for bangus production following encroachment of salt water.

Mr. Laurel said he plans to meet with Environment Secretary Maria Antonia Yulo-Loyzaga to discuss programs for Laguna de Bay, including new rules for opening floodgates to improve conditions for aquaculture.

Fish found or grown in Laguna Lake include goby, mudfish, ayunginbangus, catfish, kanduli, tilapia, and common carp.

In 1999, the LLDA allocated 10,000 hectares of Laguna de Bay to fishpen operators.

“Pollution continues to threaten the lake as a viable source of fish,” the DA said. — Adrian H. Halili

Travel agencies see growth in 2024 bookings of 20-25%

REUTERS

THE Philippine Travel Agencies Association (PTAA) said it expects bookings to grow 20-25% this year, citing pent-up demand from the pandemic.

“I would say initially… around 20% to 25% and growing further because the interest in travel is growing,” PTAA Chairperson Patria T. Chiong said at a briefing on Thursday.

Ms. Chiong also said international visitor numbers are projected at 7.7 million this year, which would exceed the 5.45 million actual arrivals in 2023.

“The enthusiasm for travel and to see different places once again is making for a buoyant travel industry, and we at PTAA are very much ready to cater to the demand,” PTAA President Evangeline Tankiang-Manotok said.

In 2019, the last full year before the pandemic, the Philippines admitted 8.26 million international visitors, according to the Department of Tourism.

Asked whether the lower fuel surcharge will affect travel demand, Ann Marie Kho, sales manager at AirSWIFT Transport, Inc., said the surcharge adjustment’s impact may not be immediate.

In an advisory on Wednesday, the Civil Aeronautics Board (CAB) said the fuel surcharge for Feb. 1-28 will be lowered to Level 6, after the average price of jet fuel stood at P38.92 per liter between Dec. 10 and Jan. 9.

“The CAB determines when we’re supposed to apply the adjustment… if there is a continuous decrease in fuel prices (it will) definitely impact prices,” Ms. Kho said.

The PTAA is set to conduct the 31st Travel Tour Expo and 9th International Travel Trade Expo 2024 between Feb. 2 and 4 at the SMX Convention Center Manila in Pasay City.

The association said that the trade fair will feature travel deals, discounts, and destination packages for a wide range of budgets and travel preferences.

“We are pooling together our expertise under one roof to provide Filipino travelers the best advice and make them realize that there are many options for them,” Ms. Tankiang-Manotok said. — Sheldeen Joy Talavera

Dof preparing medium-term strategy for managing debt

DOF.GOV.PH

THE Department of Finance (DoF) said it is preparing a medium-term strategy for managing debt, with an eye towards ensuring fiscal sustainability.

“Soon, we will develop a Philippine Medium-Term Debt Management Strategy,” Finance Secretary Ralph G. Recto said in a speech, adding that another objective of the plan is to ensure transparency in public borrowing.

The plan “will guide us on how to secure a future of fiscal stability,” he added.

At the end of November, the National Government’s (NG) outstanding debt stood at a record P14.51 trillion.

The NG’s debt as a share of gross domestic product (GDP) was 60.2% at the end of the third quarter, lower than the 61% at the end of the second quarter and the 63.6% a year earlier.

However, it was still slightly above the 60% threshold considered manageable by multilateral lenders for developing economies.

The government is targeting to bring down the debt-to-GDP ratio to below 60% by 2025.

“External accounts remain robust, with the Philippines having the lowest external debt-to-GDP ratio among its peers. This means we are less vulnerable to external shocks,” Mr. Recto said.

“We have maintained our high investment-grade credit rating amid the sea of downgrades globally. This allows us better pricing and market access to support our financing requirements,” he added.

Meanwhile, the newly appointed Finance Secretary also called on the support of Congress for the swift passage of key tax reform measures.

“Among other things, fiscal sustainability can only be achieved if we install a system that guarantees fairer and more efficient tax administration. That is precisely what we aim to accomplish with our proposed tax reform measures which the President has endorsed as urgent to Congress,” Mr. Recto said.

He cited the reform to the real property valuation system, the value-added tax on digital providers, rationalization of the mining fiscal regime, the tax on single-use plastics, and proposed amendments to the Corporate Recovery and Tax Incentives for Enterprises Act.

“These reforms will not only finance development but will reduce the deficit and our dependence on debt,” Mr. Recto said.

“I, therefore, call on our friends in Congress to partner with us in securing the immediate passage of these reforms.” — Luisa Maria Jacinta C. Jocson

MAP president says members back removal of 1987 Constitution’s restrictions on investment

THE new president of the Management Association of the Philippines (MAP) said he supports the government’s plan to amend the ownership, caps and industry restrictions in the economic provisions of the 1987 Constitution.

On the sidelines of the MAP Inaugural Meeting at Shangri-La the Fort, newly inducted MAP President Rene D. Almendras said that the changes in the economic provisions of the Constitution will help attract foreign investment to the Philippines.

“We have spoken in the past that we are supporting the changes which are economic in nature. Because we think that can make a difference as far as attracting foreign investors into the country,” Mr. Almendras told reporters on Thursday.

Asked for the official MAP position on Senate proposals to amend the Constitution, he said that the organization has yet to come out with its position.

However, he said MAP members are pleased with the focus of pro-amendment advocates to the economic provisions.

“We are glad that they are focusing on that (but) I cannot say whether we are fully supportive of the Senate version, because to be honest, we don’t know what that is. But if it is along the lines of economic reform, we are for it,” he added.

Both the House of Representatives and Senate are pursuing amendments to alleviate economic challenges.

Senate President Juan Miguel F. Zubiri recently filed Senate Resolution of Both Houses No. 6, which seeks to amend Articles XII, XIV and XVI of the Constitution.

The resolution proposes to insert the phrase “unless otherwise provided by law” to the Constitution’s articles on the operation of public utilities, basic educational institutions and advertising industry, opening the door for restrictions to be tweaked by legislative action.

Meanwhile, Mr. Almendras said that the economic provisions should focus on amending the curbs on ownership, caps and industry restrictions in order to make the Philippines more competitive.

“Competitiveness needs to be addressed because to stay as we are, business as usual, is going to be a real mistake. Every economy in the world is already pushing to be competitive. If we don’t do anything we are going to be left behind,” he said.

In his speech, Mr. Almendras said that MAP will pursue competitiveness as one of its five priorities in 2024.

“Recent economic realities, together with globalization, highlight the need to enhance our competitiveness, as all the other economies are so doing,” he said.

“To help improve the global competitiveness of the Philippines, we will push for vital policy reforms, through executive or legislative action, that will eliminate corruption, improve the ease of doing business, ensure food security through agricultural productivity, and sustain an enabling business environment for local and foreign investors,” he added.

He said such a focus will attract greater and more diverse job-creating investments. — Justine Irish D. Tabile

Japan poultry imports banned after bird flu outbreak

REUTERS

IMPORTS of poultry products from Japan have been banned after an outbreak there of H5N1 highly pathogenic avian influenza (HPAI), or bird flu, according to the Department of Agriculture (DA).

In a memorandum order, the DA said that shipments of domestic and wild birds, poultry meat, day-old chicks, eggs, and semen from Japan were suspended starting Jan. 17.

Japan’s Ministry of Agriculture, Forestry and Fisheries reported an outbreak of HPAI to the World Organization for Animal Health on Nov. 28.

“The Japanese agency’s report showed an outbreak of the H5N1 strain (among) wild and domesticated birds on Nov. 24 in Kashima City in Saga Prefecture,” the DA said.

Sanitary and phytosanitary import permit processing for poultry products from Japan has also been suspended.

“Only wild birds, poultry and poultry products imported from Japan that are already in transit, loaded and accepted on or before Nov. 10, will be allowed entry into the Philippines,” the DA said.

It added that poultry shipped out after Nov. 10 would either be returned to the country of origin, or confiscated and destroyed.

In August, the DA lifted the temporary ban on Japanese poultry products after an earlier Japanese outbreak of bird flu was deemed “negligible.”

Japan had resolved 84 cases, with no additional cases of avian influenza reported after the August outbreak.

This year, the DA has banned poultry imports from France, Belgium, and the US states of Ohio and California after outbreaks of HPAI. — Adrian H. Halili

BCCP bullish on prospects for PHL-UK bilateral trade in 2024

By Justine Irish D. Tabile, Reporter

THE British Chamber of Commerce of the Philippines (BCCP) said it is optimistic about the prospects for continued growth in trade between the Philippines and the UK, after a 32% performance last year.

“We are very hopeful… obviously a lot depends on the economic conditions of both countries. But I think there are good opportunities, and we are looking at a very active year,” BCCP Executive Director Chris Nelson told BusinessWorld in a telephone interview.

Mr. Nelson said that one of the opportunities is the planned visit of the UK Trade Commissioner for Asia-Pacific, Martin Kent, next week.

“He is based in Singapore and he will be coming here next week. And there are also plans, that he outlined, (for) a roadshow to get investments to the Indo-Pacific,” he said.

“I think, there are a lot of good opportunities… (much also) depends on inflation. But we are very optimistic for 2024,” he added.

Mr. Nelson said that total trade in goods and services between the UK and the Philippines grew to 2.9 billion pounds in 2023 as of Dec. 21.

UK exports to the Philippines accounted for 1.3 billion pounds, while the UK imported 1.6 billion pounds from the Philippines. So the balance is slightly in favor for the Philippines,” he said.

Mr. Nelson added that the high level of trade is “really driven by the increasingly close ties between the two countries.”

“It also reflects that we have been working very hard to advocate and promote opportunities here and obviously we work closely with the British Embassy and the Department of Business and Trade,” he said.

Top exports of the UK to the Philippines are miscellaneous electrical goods, mechanical power generators, meat and meat preparations, pharmaceutical products and cars.

Meanwhile, the top imports of the UK from the Philippines are electrical machinery, electrical goods, intermediate electrical goods, pulp and wastewater, and general industrial machinery.

Mr. Nelson cited the growth of UK meat exports to the Philippines which he described as considerable, after coming off a small base.

“We have worked with the (UK) Agricultural and Horticulture Development Board… and that has led to a significant growth in British pork exports to the Philippines, which helps of course for food supply,” he said.

“We are coming from a relatively small base, but I think what is important to note is that it is growing very considerably and we look forward to trying to keep that by establishing longer-term relations with the key people,” he added.

Mr. Nelson said that the Philippines is the second most important market of the UK for pork in Asia, second to China.

Meanwhile, he said that the chamber is lobbying for the passage of the Anti-Agriculture Smuggling Act as it will complement the initiatives of the BCCP in helping the country address food security issues.

“And we are very hopeful because both Houses have passed their version and we are looking forward to seeing it at the bicameral and get it signed into legislation,” he added.

Weak dollar shores up peso amid Fed rate cut bets

BW FILE PHOTO

THE PESO appreciated on Thursday as the dollar weakened amid reduced expectations of a rate cut by the US Federal Reserve.

It closed at P55.84 a dollar, 9 centavos stronger than its P55.93 finish on Wednesday, based on Bankers Association of the Philippines data posted on its website.

The peso opened at P55.87, appreciated to as much as P55.765 and depreciated to as much as P55.90. Dollars exchanged went down to $1.43 billion from $1.74 billion on Wednesday.

The dollar lost ground due to expectations that the Fed would not rush to cut rates, Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp., said in a Viber message.

The dollar hovered near a one-month peak versus major peers on Thursday after robust US retail sales data added to building expectations the Federal Reserve would not rush to lower interest rates, Reuters reported.

The US dollar index, which measures the currency against a basket of six rivals, eased slightly to 103.29 in the Asian afternoon after reaching 103.69 on Wednesday for the first time since Dec. 13.

Traders have trimmed the odds of a first Fed rate cut by March to 61%, from 65.1% on Tuesday, according to CME’s FedWatch Tool.

The Federal Open Market Committee raised borrowing costs by 525 basis points (bps) to 5.25-5.5% from March 2022 to July 2023.

“The peso appreciated from profit-taking by market participants after hitting the 56-level intraday,” a trader said in an e-mail.

The trader expects the peso to strengthen further against the dollar on Friday ahead of a likely weak report on US initial jobless claims.

The trader expects the peso to move between P55.70 and P55.95, while Mr. Ricafort sees it ranging from P55.75 to 55.95. — Aaron Michael C. Sy

Philippine stocks fall, track weaker US markets

BW FILE PHOTO

PHILIPPINE shares slipped for the third straight day on Thursday as investor sentiment was affected by weaker US markets.

The 30-member Philippine Stock Exchange Index (PSEi) fell by 0.93% or 61.64 points to close at 6,510.87, while the broader all-share index dropped by 0.73% or 25.45 points to 3,451.21. 

“Investors seemed to have weighed negative factors offshore. Firstly, it tracked losses from Wall Street overnight amid rising US long-term treasury yields,” Mikhail Philippe Q. Plopenio, research and engagement officer at Philstocks Financial, Inc., said in a Viber message. 

On Jan. 17, the Dow Jones Industrial Average fell by 0.25% or 94.45 points to 37,266.67, while the S&P 500 Index declined by 0.56% or 26.77 points to 4,739.21. The Nasdaq Composite Index declined by 0.59% or 88.73 points to 14,855.62, while the New York Stock Exchange Composite Index fell by 0.7% or 116.55 points to 16,522.83. 

“The stronger-than-expected US retail sales data, which rose 0.6%, tempered near-term rate cut hopes by the Federal Reserve,” Mr. Plopenio said. “The tension in the Red Sea is also being monitored by many as disruptions could arise if the situation escalates.”

The local bourse declined amid China’s slower economic growth, Luis A. Limlingan, head of sales at Regina Capital Development Corp., said in a Viber message.

On Jan. 17, China’s National Bureau of Statistics said economic output rose by 5.2% in the fourth quarter, quicker than 4.9% in the third quarter but below the 5.3% growth estimate in a Reuters poll. China’s full-year growth was also 5.2% in 2023, faster than 3% in 2022.

PSEi’s sectoral indices declined across the board, led by mining and oil which fell by 1.69% or 157.72 points to 9,148.03. Property went down by 1.65% or 46.80 points to 2,789.22, while financials retreated by 0.78% or 14.46 points to 1,823.74.

Services shed 0.7% or 11.39 points to 1,612.94; holding firms decreased by 0.64% or 40.84 points to 6,249.50; and industrials dropped by 0.6% or 54.63 points to 8,993.82.

“Among the index members, Bloomberry Resorts Corp. was at the top, climbing 2.58% to P9.95. JG Summit Holdings, Inc. lost the most, dropping 3.13% to P38.75,” Mr. Plopenio said. 

Value turnover fell to P5.27 billion and 314.86 million shares on Thursday changing hands compared with P590.13 million issues worth P6.68 billion on Wednesday. 

Decliners beat advancers, 112 to 66, while 51 stocks were unchanged. 

Net foreign buying dropped to P24.42 million from the P63.22 million net foreign inflows a day earlier. — Revin Mikhael D. Ochave

PHL, China diplomats agree on friendly talks

AN AERIAL VIEW of the BRP Sierra Madre at the contested Second Thomas Shoal on March 9, 2023. — REUTERS

By Kyle Aristophere T. Atienza, Reporter

THE PHILIPPINES and China have agreed to address their disputes over the South China Sea through friendly talks and cooperation on marine research, top-level diplomats of both countries who met in Shanghai revealed.

Philippine Foreign Affairs Undersecretary Ma. Theresa P. Lazaro and Chinese Assistant Foreign Minister Nong Rong met at the 8th Philippines-China Bilateral Consultation Mechanism on the South China Sea on Tuesday amid increasing conflict that reached new heights following Manila’s recognition of Taiwan’s new leader.

In the past year, the Asian neighbors endured intense confrontations mainly triggered by Beijing’s water cannon attacks and dangerous maneuvers that have placed Filipino vessels at risk in parts of the disputed waters closest to the Philippines.

Releasing a statement on the Shanghai consultations, the Philippine Department of Foreign Affairs (DFA) said Ms. Lazaro and Mr. Nong “had frank and productive discussions to de-escalate the situation in the South China Sea and both sides agreed to calmly deal with incidents, if any, through diplomacy.

The two countries agreed to improve a so-called maritime communication mechanism, which includes “communications between foreign ministries and coast guards of the two countries.”

“Continuous dialogue is important to keep peace and stability at sea,” the DFA said.

Their talks also focused on Second Thomas Shoal — where worn-down Philippine Navy ship BRP Sierra Madre has been grounded since the 1990s, following China’s seizure of Mischief Reef — and “assured each other of their mutual commitment to avoid escalation of tensions.”

The shoal has been a major source of friction between the two countries, with the Chinese Coast Guard blocking Philippine resupply missions for troops stationed on the rusting vessel through the use of water cannons and dangerous maneuvers at sea.

The two countries also agreed on “possible academic exchanges on marine scientific research.”

“China has always opted for a bilateral talk but there should be a prerequisite: There must be a commitment to respect rules-based mechanisms such as the UNCLOS (United Nations Convention on the Law of the Sea) and the arbitral ruling in 2016,” Antonio P. Contreras, a political analyst at the University of the Philippines Los Baños, said in a phone call.

“There should be a commitment to respect global institutions.”

Relying on China’s push to address the issue at the bilateral level may only give Beijing room to expand its illegal claims, Mr. Contreras warned.

Pursuing cooperation on marine research would be an important step to keeping the two countries’ ties amid their tensions at sea, Philip Arnold “Randy” P. Tuaño, dean of the Ateneo School of Government, said in a Facebook Messenger chat.

Addressing common challenges such as the impacts of climate change on the South China Sea and threats to marine biodiversity conservation and sustainable fisheries management could “contribute to the development of sustainable policies that benefit both nations, thereby reducing potential sources of tension.” However, it is essential to recognize that scientific cooperation alone may not completely resolve political or military disputes, Mr. Tuaño noted.

“It should be part of a broader diplomatic strategy that includes political dialogue, conflict resolution mechanisms, and adherence to international laws and agreements.”

CHINA ENVOY TO MANILA SEES TIES AT A CROSSROADS
Ties between the two countries continue to sour due to their disputes at sea, and Chinese Ambassador to the Philippines Huang Xilian on Wednesday said the two countries’ relations now “stand at a crossroads.”

The Philippines should “steer a right course for its relations with China,” he said in a speech in a year-end party with media workers, days after Mr. Marcos congratulated Taiwan President-elect William Lai Ching-te and expressed willingness to boost ties with the self-ruled island, which has governed independently of China since the 1940s.

Mr. Marcos’ remarks prompted the Chinese government to summon the ambassador from the Philippines, with Beijing warning Manila “not to play with fire.”

The Chinese envoy to Manila urged the Philippines to “work together with China to bring bilateral relations back on the right track as soon as possible.”

The two countries are linked by “a strip of water and have been friendly for thousands of years,” he said.

“First of all, it is not ‘a strip of water’ that separates the Philippines and China,” said Jay L. Batongbacal of the University of the Philippines Institute for Maritime Affairs and Law, reacting to Mr. Huang’s demands.

“This is an underhanded attempt to deny the Philippines’ 200-nautical mile exclusive economic zone and continental shelf areas and high seas that separate the two countries,” he said in a Viber message.

Mr. Batongbacal reminded China that respect goes both ways and is earned and mutually given, “not demanded by one from the other.”

“If China treats the Philippines with respect then the Philippines will likewise treat China with respect,” he said. “China has not done so for years now.”

The Philippines should continue to pursue its national interests and not defer to China’s demand.

Trade deficit between the Philippines and China hit $15.25 billion in 2021 with Manila on the losing end. Manila only exported $11.55 billion worth of products to China in that year, but imported $26.8 billion worth of goods from Asia’s largest market.

In November 2023, China was the Philippines’ largest source of imports valued at $2.72 billion, according to data from the Philippine Statistics Authority.

But the United States, not China, was the largest buyer of Philippine exports in the same month, accounting for $970.22 million or 15.8% of the country’s export value.

Despite their increasing tensions, economic ties with Beijing may still be “business as usual because China also needs continuing economic activity with other nations for its most important exports, such as the electric vehicles,” Terry L. Ridon, a public investment analyst, said in a Facebook Messenger chat.

“On infrastructure, Beijing has failed to deliver on much of its infrastructure commitments anyway, such that any further pause will be insignificant,” he added. “These commitments may also be undertaken by other development partners in the future.”

Senator warns ‘Cha-cha’ for economic reforms courts security risks

PHILSTAR

By Beatriz Marie D. Cruz, Reporter

A SENATOR on Thursday warned against amending the 1987 Constitution to ease economic restrictions in favor of foreign investors, because doing so may expose the country to greater security risks that endanger national interests.

“Amending the Constitution to open more of our most crucial industries — like public utilities, education, and advertising — to 100% foreign ownership will only expose us to security risks and weaken our national interests in a time of global unrest,” Senator Ana Theresia “Risa” N. Hontiveros-Baraquel said in a statement.

She said lawmakers must focus on more pressing concerns of the public, including high prices of commodities, as well as the call for higher wages and a better transport system.

As a priority, the senator said the government must improve the ease of doing business and eliminate corruption before inviting foreign investors to the country.

Senator Sherwin T. Gatchalian, who supports Charter change or “Cha-cha,” said agricultural and indigenous peoples’ lands should not be included when allowing foreigners to fully own lands.

“While we support policies that would attract foreign investments to help underpin local economic growth, we should not allow the displacement of our local farmers and our indigenous people,” he said in a separate statement.

The Senate will review economic provisions of the 1987 charter, seeking to insert the phrase “unless otherwise provided by law” in sections of the Constitution to open public services, education, and advertising to foreign investments.

The House of Representatives, on the other hand, is looking to amend the Charter through a people’s initiative.

Economic think tank IBON Foundation said Congress has yet to justify the need to amend the Constitution.

“There’s no justification towards the removal of economic provisions in the Constitution,” IBON Foundation executive director Jose Enrique A. Africa told a news briefing on Thursday.

“The insertion of “unless otherwise provided by law” [is an] attempt to minimize the obvious [desire of] opening of the economy,” he said.

Mr. Africa cited the manufacturing industry, which is 100% open to foreign investments, fell to 17.6% of gross domestic product (GDP), the smallest share in 75 years or since 16.3% in 1949.

He added that the Philippines’ foreign investment is higher compared to South Korea, China, and Taiwan during their respective economic takeoffs in the 1970s and 1980s, yet “they developed with relatively less foreign investment than the Philippines today.”

Instead of opening the economy to foreign investments in manufacturing, the government should subsidize local industries, according to Mr. Africa.

House ways and means committee chairman and Albay Rep. Jose Ma. Clemente S. Salceda said Congress can pass Charter change amendments before the 2025 midterm elections.

“It was explained to me by the proponents, they want to hit it before July [and conduct a] plebiscite [by then],” he told a news briefing.

Ongoing probe reveals 459 visa applications from fake firms — BI

PHILSTAR FILE PHOTO

THE BUREAU of Immigration (BI) on Thursday said that 459 applications that had issued visas were petitioned by fake corporations amid its investigation of four employees allegedly involved in the issuing fake companies employment visas.

“A total of 459 applications for visas were found with fake petitioners, which meant [they came from] nonexistent companies, offices or operations,” Immigration Spokesperson Dana Krizia M. Sandoval told DzBB radio.

The BI also found last month 116 fake employers from the applications, Ms. Sandoval noted.

She said the BI has taken decisive action by dismissing four lawyers in one of its departments, responding to concerns raised by Justice Secretary Jesus Crispin Remulla about vulnerabilities in the country’s visa issuance system.

These lawyers are now being investigated for alleged links to the issuances of the visas to fake petitioners.

“They were relieved from their positions in issuing visas while they are undergoing investigations,” Ms. Sandoval said.

Senator Mary Grace S. Poe-Llamanzares said the issuance of visas from fake firms pose security threats in the country’s peace and order.

“The DoJ (Department of Justice) must get to the bottom of this illegal scheme, and punish erring immigration personnel and other individuals who made the entry of the foreigners possible,” Ms. Poe-Llamanzares said in a statement.

Earlier Mr. Remulla said illicit channels created by lawyers and travel agencies to illegally bring individuals into the country were uncovered.

While he said the investigation primarily focused on Chinese nationals, Ms. Sandoval said the scheme appears to involve various nationalities.

In a recent meeting between Mr. Remulla and Immigration Commissioner Norman G. Tansingco, it was discussed to expand the probe beyond the initial 2023 report.

The decision was made to audit all visas issued in the past five years, aiming to identify any additional agencies or individuals involved in such visa irregularities.

Possible sanctions for implicated agencies include revocation or suspension of accreditation, with forfeiture of their bonds. This move aligns with efforts to address potential misuse of visas for illicit activities or for jobs intended for Filipino workers, such as in the retail sector. — Beatriz Marie D. Cruz