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HR’s seat in the executive board room

I’m the newly-hired head of human resources (HR) at a medium-sized organization. In my previous job, I was given a permanent seat in monthly department meetings presided over by the chief executive officer (CEO). In my current job, I was surprised to learn that HR has no regular seat during department meetings and is invited only to shed some light on certain issues. I feel this system is unfair to HR. What do you think?  — Lunar Scope.

​Before directing your eyes to the executive table, consider many factors that may decide if you should have a regular seat or not. Primarily, it depends on the size of your organization and your reporting responsibility. Who is your direct boss? Do you report to the CEO or not? Are you being represented by someone higher in rank and function like the senior vice president for administration and finance?

​This should have been clarified with your prospective boss during the job interview process. The basic reference is the organizational chart. If you report directly to the CEO, you should have a permanent seat in the executive board room for the monthly and periodic meetings. 

Otherwise, you should be represented by your department boss, regardless of their rank.

​Since you’re new to the organization, it’s too early to tell if you’re qualified to have a boardroom seat. HR is a specialized job function that may not be fully performed by anyone in the organization, even if they’re in a higher position, even if their main experience is in administration.

​Just the same, you’ll know if you’re entitled to it if you can answer “yes” to the following questions: Do line supervisors and managers constantly seek your opinion? What’s your batting average in influencing the company’s direction? Even outside of HR topics, are you being consulted on matters involving customers, industry trends, product strategies, and many more?

​Does your boss (CEO or other high-ranking officials) regularly consult you on HR matters and how they would affect the organization? How are you showing your competence and potential as a strategic business partner who knows the ins and outs of the industry?

UNDERSTANDING THE BUSINESS
​The key is to understand the business. Be familiar with the language being used by your colleagues. Know the jargon. Learn the complexities of the business. Spend a considerable amount of time talking with people from operations, sales, production, accounting, and even the IT department.

​Get out of the HR suffocating box. There’s a bigger world out there. Don’t be like a goldfish in an aquarium who doesn’t know the beauty of the sea. You can do more if you know the company’s customers, the cost of your operations, quality issues, and even how the sales and marketing people are trying to meet their quotas. By helping people in other departments get what they need to run the business effectively and profitably, you’ll be doing more than what’s expected of you.

​One caveat. Don’t bypass the department heads. Seek their approval. Explain that you’re trying a holistic approach. For instance, how would you solve the problems of people having difficulty in meeting their sales or production quota? How about those producing defective products or demonstrating poor productivity?

Many times, the solution is not limited to classroom training. It could be cross-postings to other jobs for one to two years of temporary assignment. Whatever you do, be guided by the following:

One, align your plans and programs with overall business goals. Understand the letter and spirit of the company’s mission, vision, and value (MVV) statements. Review the records. Focus on past milestones. Learn from them.

For example, when you try to help the operations department reduce product defects, what kind of intervention would you propose to the concerned department head using the MVV framework?

Again, be careful on this. The production department head may feel slighted when you discover a tangible solution that may put them in an uncomfortable situation.

Two, know your department workers well. Understand their strengths and weaknesses. Help them achieve their career objectives. This is imperative. You can’t give what you don’t have. If you can’t manage the HR department well, then how could you help other departments?

Have a monthly meeting with your direct reports. Ensure that everyone is on the same page. Aside from the monthly meeting, be the first department head to institutionalize casual engagement dialogues. Before doing this, check their 201 files and look for their career interests as fodder for your meeting.

​In general, be strong on the consultative function of HR so you will be looked upon as the internal expert on workforce matters. Go beyond the oft-repeated mantra that “the workers are our greatest assets.” This worn-out expression is never translated into real action that produces the best results.

​If you can do that, you’ll guarantee yourself a seat in the board room, even if you don’t report to the CEO, as they will find you indispensable. But be ready to manage your detractors as well by applying rational thinking that they can’t refute.

 

Organize an exclusive program called Superior Subordinate Supervision for your organization. Packed with practical coaching strategies, this event ensures the delivery of results within hours of the workshop. For details, e-mail elbonomics@gmail.com or via https://reyelbo.com

Philippines ranks 43rd in World Future Skills Index

The Philippines placed 43rd out of 81 countries in the inaugural World Future Skills Index, by service and analytics provider Quacquarelli Symonds (QS). The country had a final score of 62.2 out of possible 100. The index evaluates how well countries are equipped to meet the changing demands of the international job market based on four equally weighted indicators: skills fit, academic readiness, future of work, and economic transformation.

Philippines ranks 43<sup>rd</sup> in World Future Skills Index

How PSEi member stocks performed — January 23, 2025

Here’s a quick glance at how PSEi stocks fared on Thursday, January 23, 2025.


Peso sinks to near two-week low on Trump worries

PHILSTAR FILE PHOTO

THE PESO declined to a near two-week low against the dollar on Thursday as the foreign exchange market awaited further guidance from US President Donald J. Trump regarding his planned tariff policies.

The local unit closed at P58.692 per dollar on Thursday, weakening by 18.2 centavos from its P58.51 finish on Wednesday, Bankers Association of the Philippines data showed.

This was the peso’s lowest close in nearly two weeks or since it finished at P58.70 on Jan. 13.

The peso opened Thursday’s session slightly weaker than Wednesday’s close at P58.54 against the dollar, which was already its intraday best. Its worst showing for the day was at P58.70 versus the greenback.

Dollars exchanged decreased to $1.27 billion on Thursday from $1.59 billion on Wednesday.

“The peso closed lower on strong dollar demand as traders await announcements of Trump’s policies,” a trader said in a phone interview.

The dollar was generally stronger on Thursday after Mr. Trump threatened to impose tariffs on Russia if it does not stop its invasion of Ukraine, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

For Friday, the trader said the peso could move between P58.50 and P58.80 a dollar, while Mr. Ricafort sees it ranging from P58.55 to P58.75.

The dollar traded in narrow ranges against major peers on Thursday, as the currency continued to struggle for direction in the absence of concrete announcements on tariffs from Mr. Trump, Reuters reported.

A spate of central bank policy decisions could move currencies over the next week, with the Bank of Japan widely expected to raise interest rates at the end of a two-day meeting on Friday.

Rate decisions from the US Federal Reserve and European Central Bank are scheduled for Wednesday and Thursday of next week, respectively.

The dollar index — which measures the currency versus six top rivals, including the euro and yen — was last up 0.09% at 108.37 in early European trading.

It tumbled 1.2% on Monday in its steepest one-day slide since November 2023, as Mr. Trump’s first day in office brought a barrage of executive orders but none on tariffs.

The dollar had climbed to a more than two-year high of 110.17 on Jan. 13 on the back of a strong US economy and expectations of widespread US tariffs, which could dent other countries’ currencies.

So far this week, Mr. Trump has mooted levies of around 25% on Canada and Mexico and 10% on China from Feb. 1. He also promised duties on European imports, without giving details.

Mr. Trump on Monday signed a trade memo ordering federal agencies to review a range of trade issues by April 1, which many market participants believe will be a key date in revealing tariff plans.

The dollar was up 0.15% against China’s yuan in offshore trading at 7.294 yuan. It has fallen around 0.5% against the yuan, also called the renminbi, since Mr. Trump’s inauguration.

Japan’s yen was flat at 156.49 per dollar with markets pricing 96% odds of a quarter-point hike on Friday. — A.M.C. Sy with Reuters

Bargain hunting, Wall Street rally lift PHL stocks

BW FILE PHOTO

PHILIPPINE SHARES climbed on Thursday as investors continued to pick up bargains, although the mood stayed cautious as global markets awaited clarity on US President Donald J. Trump’s tariff plans.

The benchmark Philippine Stock Exchange index rose by 0.48% or 30.52 points to close at 6,378.86, while the broader all shares index went up by 0.18% or 6.81 points to end at 3,705.34.

“Bargain hunting continued, which in turn extended the local market’s gains. The positive cues from Wall Street’s overnight performance also helped in Thursday’s performance,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.

“Trading was still anemic, however, with net value turnover at P3.96 billion as many investors stayed on the sidelines amid lingering uncertainties primarily on the US’ foreign trade policies,” Mr. Tantiangco said.

Value turnover went down to P4.09 billion on Thursday with 904.20 million shares changing hands from the P4.68 billion with 862.32 million issues traded on Wednesday.

“Philippine shares climbed following the sentiment of US stocks, which surged on Wednesday… Investors are also anticipating regulatory easing and corporate tax cuts under President Donald Trump’s new term, which could boost corporate profits,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

Wall Street’s indexes rose on Wednesday, with the benchmark S&P 500 hitting an intraday record high as investors cheered streaming video provider Netflix’s quarterly report and Mr. Trump’s private-sector artificial intelligence infrastructure investment plan, Reuters reported.

The S&P 500 ended up 37.13 points or 0.61% to 6,086.37. The Nasdaq Composite gained 252.56 points or 1.28% to 20,009.34, while the Dow Jones Industrial Average rose 130.92 points or 0.30% to 44,156.73

Risk appetites have been boosted recently by strong economic data and cooling inflation along with Mr. Trump’s more moderate than feared approach to tariffs since his Monday inauguration.

However, investors are still cautiously watching for the president’s trade plans due to inflation concerns after he warned that tariffs on imports from China, Mexico, Canada and the European Union could be issued on Feb. 1.

At home, majority of sectoral indices closed higher on Thursday. Financials climbed by 1.13% or 24.78 points to 2,203.65; holding firms rose by 1% or 53.54 points to 5,389.99; mining and oil went up by 0.94% or 72.97 points to 7,793.40; and industrials increased by 0.17% or 15.46 points to 8,933.69.

Meanwhile, services fell by 0.8% or 16.85 points to 2,078.94 and property went down by 0.17% or 3.99 points to 2,332.04.

Decliners beat advancers, 107 versus 95, while 42 names were unchanged.

Net foreign selling declined to P163.58 million on Thursday from P404.25 million on Wednesday. — Revin Mikhael D. Ochave with Reuters

US moves Typhon missile launchers to new location in northern Philippines

US ARMY PACIFIC

THE US military has moved its Typhon launchers, which can fire multipurpose missiles up to thousands of kilometers, from Laoag airfield in the Philippines to another location on the island of Luzon, a senior Philippine government source said.

The Tomahawk cruise missiles in the launchers can hit targets in both China and Russia from the Philippines. The SM-6 missiles it also carries can strike air or sea targets more than 200 km (165 miles) away.

The senior Philippine government source said the redeployment would help determine where and how fast the missile battery could be moved to a new firing position. That mobility is seen as a way to make them more survivable during a conflict.

Satellite images showed the batteries and their associated gear being loaded onto C-17 transport aircraft at Laoag International Airport in recent weeks, said Jeffrey Lewis of the Middlebury Institute of International Studies. The white rain canopies that had covered the Typhon equipment were also removed, based on the images seen by Reuters.

The Typhon system is part of a US drive to amass a variety of anti-ship weapons in Asia.

Indo-Pacific Command (INDOPACOM), which oversees US forces in the region, told Reuters the Typhons have been “relocated within the Philippines.” Both INDOPACOM and the Philippine government declined to give the specific location to which the batteries were moved.

“The US government has coordinated closely with the Philippine government on every aspect of the MRC deployment, including the location,” said Commander Matthew Comer of INDOPACOM, referring to the Typhon by the initials of its formal name, mid-range capability.

He added that the relocation was not an indication that the batteries would remain permanently in the Philippines.

The weapon drew sharp criticism from China when it was first deployed in April 2024 during a training exercise. In September, when the US said it had no immediate plans to pull the Typhons out of the Philippines, China and Russia condemned the deployment as fueling an arms race.

China’s Foreign Ministry accused the Philippines on Thursday of creating tension and confrontation in the region, and urged it to “correct its wrong practices.”

“(The deployment) is also an extremely irresponsible choice for the people of the country and various Southeast Asian countries, and for regional security,” ministry spokesperson Mao Ning said at a news briefing.

Typhons are relatively easy to produce — drawing on large stockpiles and designs that have been around for a decade or more — and could help the US and its allies catch up quickly in an Indo-Pacific missile race in which China has a big lead.

Although the US military has declined to say how many will be deployed in the Indo-Pacific region, more than 800 SM-6 missiles are due to be bought in the next five years, according to government documents outlining military purchases. Several thousand Tomahawks are already in US inventories, the documents showed.

Both missiles are Raytheon products.

‘IRONCLAD COMMITMENTS’
Meanwhile, US Secretary of State Marco Rubio discussed China’s “dangerous and destabilizing actions in the South China Sea” with his Philippine counterpart on Wednesday and underscored the “ironclad” US defense commitment to Manila.

“Secretary Rubio conveyed that (China’s) behavior undermines regional peace and stability and is inconsistent with international law,” the US State Department said in a statement on the call with Foreign Affairs Secretary Enrique A. Manalo.

The two also discussed ways to boost security and economic ties between both countries for “further regional cooperation.”

The US is the Philippines’ major security partner, with a 1951 Mutual Defense Treaty compelling both nations to defend each other in case of an armed attack.

The Philippines has been embroiled in wrangles at sea with China in the past two years and the two countries have faced off regularly around disputed features in the South China Sea that fall within Manila’s exclusive economic zone.

Mr. Rubio’s call came after he hosted counterparts from Australia, India and Japan in the China-focused “Quad” forum on Tuesday, the day after President Donald J. Trump returned to the White House. The four recommitted to working together.

Quad members and the Philippines share concerns about China’s growing power and analysts said on Tuesday’s meeting was designed to signal continuity in the Indo-Pacific and that countering Beijing would be a top priority for Mr. Trump.

In the call with Mr. Manalo, Mr. Rubio “underscored the United States’ ironclad commitments to the Philippines” under their Mutual Defense Treaty and discussed ways to advance security cooperation, expand economic ties and deepen regional cooperation, according to the statement.

China’s Foreign Ministry said its activities in the waters were “reasonable, lawful and beyond reproach.”

Speaking at a regular press conference, Ms. Mao, the Chinese Foreign Ministry spokesperson, said the US was “not a party” to the South China Sea dispute, and had “no right to intervene” in maritime issues between China and the Philippines.

“Military cooperation between the US and the Philippines should not undermine China’s sovereignty and maritime rights and interests in the South China Sea, nor should it be used to endorse the illegal claims of the Philippines,” she said.

Just ahead of Mr. Trump’s inauguration, the Philippines and the US held their fifth set of joint maritime exercises in the South China Sea since launching the exercises in 2023.

Security engagements between the allies have soared under Philippine President Ferdinand R. Marcos, Jr., who has moved closer to Washington and allowed the expansion of military bases that American forces could access, including facilities facing the democratically governed island of Taiwan, which China claims as its own.

Visiting the Philippines last week, Japanese Foreign Minister Takeshi Iwaya said a trilateral initiative to boost cooperation launched by Japan, the US and the Philippines at a summit last year would be strengthened when the new US administration took over in Washington.

“This is music to Manila’s ears as Washington supports us and rebukes Beijing’s inconsistent appreciation of international law,” Chester B. Cabalza, founding president at Manila-based think tank International Development and Security Cooperation, said in a Facebook Messenger chat.

“But the US and Philippines must work harder to maintain peace and order in the West Philippine Sea and ensure that China will not abuse its show of force and noncompliance with the 2016 arbitral award,” he added.

Also on Thursday, Japanese Ambassador to the Philippines Endo Kazuya said Japan would continue working with members of the Association of Southeast Asian Nations (ASEAN) to keep the rule-based order.

“The world’s oceans are interconnected, and comprehensive international cooperation and partnership are necessary to address maritime security issues in each sea area,” he said in a speech at a security forum in Manila. “We are committed to working with ASEAN countries and other concerned countries to maintain and strengthen the maritime order based on the rule of law.” — John Victor D. Ordoñez with Reuters

French Navy’s flagship vessel to visit Manila for maritime exercises

French Navy flagship, aircraft carrier Charles de Gaulle carrying multi-role fighter aircraft Rafale. — FRENCH CARRIER STRIKE GROUP/X

CHARLES DE GAULLE, the flagship vessel of the French Navy, will visit Manila for the first time to hold joint maritime exercises within Manila’s exclusive economic zone (EEZ) east of the country next month, according to the French ambassador to Manila.

The Philippines is likely to be invited to join the naval drill with the US, although plans have not been finalized, French Ambassador to the Philippines Marie Fontanel told a security forum in Manila on Thursday.

“The 2025 deployment has been planned in line with this partnership-oriented approach, encompassing both long-standing and more recent collaborations,” she said.

She added that the Pacific Stellar maritime exercises with Washington would be held east of the Philippines within its EEZ.

France and the Philippines are in talks finalize a visiting forces agreement after their defense chiefs signed a letter of intent in 2023. Ms. Fontanel said the draft agreement is being discussed by Philippine authorities.”

The Philippines and the US last week held maritime exercises for a fifth time since 2023, the Armed Forces of the Philippine said on Sunday.

The joint maritime activity included the US Carl Vinson Carrier Strike Group, two guided missile destroyers, two helicopters and two F-18 Hornet aircraft.

The Philippine side deployed its Antonio Luna frigate, Andres Bonifacio patrol ship, two FA-50 fighter jets and search and rescue assets of the air force.

The activities “reinforced bilateral maritime cooperation and interoperability,” the Philippine armed forces said.

“France seeks to strengthen its partnership with the Philippines but also to engage and collaborate with the Philippines’ existing partners,” Ms. Fontanel said.

In August last year, the US and French navies held war games in the Philippine Sea to advance their interoperability “in support of a free and open Indo-Pacific.”

In the past year, Manila has secured military pacts, arms assistance funding and maritime capacity-building deals with allies including the US and Japan.

Washington has committed about $500 million (P29.3 billion) in military aid for the Philippines until 2029.

Manila and Beijing have repeatedly clashed in the South China Sea, accusing each other of aggressive behavior involving their ships and of damaging the marine environment. — John Victor D. Ordoñez

17 seamen held hostage by Houthis coming home — Marcos

PRESIDENT FERDINAND R. MARCOS, JR. — PHILIPPINE STAR/NOEL B. PABALATE

PHILIPPINE President Ferdinand R. Marcos, Jr. on Thursday said 17 Filipino seamen who had been held hostage by Houthi rebels since November 2023 are set to return to the country “very soon” after successful mediation efforts with the Iran-backed group.

“It is with utmost joy that, after more than a year of captivity in Yemen, I announce the safe release of all 17 Filipino seafarers, together with the rest of the crewmembers of M/V Galaxy Leader,” he said, based on a statement released by the presidential palace.

“Our Filipino seafarers are now in the care of our Philippine Embassy in Muscat, Oman and will be reunited with their loved ones in the Philippines very soon,” he added.

The Department of Foreign Affairs in 2023 said the 17 Filipinos were among those held hostage by the Yemeni rebels after seizing their cargo ship, which was linked to Israel, in the Red Sea.

That year, Yemen’s Al-Masirah TV, which is operated by Houthi rebels, released a video showing their men descending from a helicopter and seizing the Japanese Nippon Yusen K.K cargo ship in the southern part of the Red Sea.

Houthi military spokesman Yahya Saree had said the seizure was in response to “heinous acts” against Palestinians in Gaza and the West Bank.

The Houthis described the ship as Israeli, Reuters earlier reported. The group also seized a British-owned cargo ship that had been sailing through the southern Red Sea.

The Department of Migrant Workers in April last year barred the deployment of Filipino seamen on passenger and cruise ships to the Red Sea and Gulf of Adden after attacks by Houthi rebels. — J.V.D. Ordoñez

DFA to back agencies’ probe into alleged Chinese espionage in PHL

DFA FACEBOOK PAGE

THE DEPARTMENT of Foreign Affairs (DFA) on Thursday said it will work with Philippine law enforcement agencies to probe alleged Chinese espionage operations in the country.

“The Department takes any indication of espionage operations by foreign nationals seriously and stands ready to support the Department of Justice, the National Bureau of Investigation (NBI) and the Armed Forces of the Philippines (AFP) and other relevant government agencies…” it said in a statement.

A Chinese national suspected of being a spy was arrested on Tuesday after law enforcers recovered alleged military spying equipment from him.

The Chinese national and two Filipino cohorts were arrested in a condominium in Makati City, with the NBI filing an espionage complaint against them in connection with cybercrime before the Justice department.

AFP Chief of Staff Romeo S. Brawner, Jr. earlier said the material could have been used for military targeting purposes, as the items could create three-dimensional images for guided missile systems.

“The Chinese government as always, asks Chinese nationals overseas to abide by local laws and regulations,” Chinese Foreign Ministry spokesperson Mao Ning told a news briefing in Beijing late Wednesday.

“We hope the Philippines will stick to the facts, stop shadow-chasing, stop peddling the so-called ‘Chinese spy,’ and earnestly protect the lawful rights and interests of Chinese nationals in the Philippines.”

ANTI-ESPIONAGE BILLS
This also prodded a lawmaker to push the House of Representatives to immediately act on pending anti-espionage bills in the chamber, which proposed to expand activities that constitute spying and impose sanctions even in times of peace.

“With this development of arrested spies, [I] will ask [the] House Leadership to fast track these bills,” Cagayan de Oro Rep. Rufus B. Rodriguez, a member of the House national defense and strategic intelligence committees, told BusinessWorld in a Viber message.

The suspected spies were accused of traveling to locations, under the Enhanced Defense Cooperation Agreement, on the main Philippine island of Luzon, using topographical equipment that could map out the structures and provide global positioning coordinates of the military sites.

“The arrest of these suspected Chinese and Filipino spies should prompt Congress to immediately pass bills that would expand the coverage of the crime of espionage,” Mr. Rodriguez said in a separate statement.

Philippine Defense Secretary Gilberto Eduardo C. Teodoro, Jr. and National Security Advisor Eduardo M. Año have separately called lawmakers to pass stiffer penalties against spying, highlighting growing concerns over Manila’s vulnerabilities to espionage by the defense establishment.

“We have not heeded the appeal of our Defense secretary. We have not addressed concerning developments in the area of spying and we have not updated our law since 1941, more than 80 years ago,” said Mr. Rodriguez.

The lawmaker filed last year House Bills (HBs) No. 10983 and 10988, with both seeking to strengthen Philippine regulations against spying.

HB No. 10983 seeks to amend Article 117 of the Revised Penal Code to allow the sanction of prision correccional, which has a duration of one day to six years, even when the act of espionage is committed during peacetime.

Meanwhile, HB No. 10988 expands the coverage of espionage under the 83-year-old Anti-Espionage Act. The bill seeks to include the act of unlawfully obtaining and sharing “classified matter or classified information affecting national defense or national security” of the Philippines as punishable by law. — John Victor D. Ordoñez and Kenneth Christiane L. Basilio

Comelec to print 1.5M ballots daily after delays

PHILIPPINE STAR/ MICHAEL VARCAS

THE Commission on Elections (Comelec) seeks to print about 1.5 million ballots daily starting Jan. 27 by using more printers after multiple delays caused by restraining orders issued by the Philippine Supreme Court.

Comelec is proposing to use two more printers to fast-track ballot printing for the May 12 midterm elections, according to documents from spokesman John Rex C. Laudiangco.

“This committee respectfully proposes to target a 1.5 million official ballots daily output,” Helen G. Aguila-Flores, vice-chairperson of Comelec’s printing committee, wrote in the document. “This gives us more time for reprints and for the initially low-yielding verification process.”

“With a combined daily target output of 1.5 million ballots, the printing committee anticipates completing the printing process in 48 days, excluding verification and reprinting phases,” she added.

To implement the plan, the committee prioritized printing ballots for regions after the dispatch order set by the packing and shipping committee.

Ballots for overseas voting, local absentee voting, midterms and parliamentary elections for the Bangsamoro Autonomous Region in Muslim Mindanao and Cagayan Valley will be printed first. Ballots for Calabarzon, Central Luzon and the National Capital Region will be printed last.

The commission once again rescheduled the printing of official ballots to Jan. 27 from Jan. 24 after a senatorial bet covered by the high court’s latest round of restraining orders withdrew from the race.

Comelec also postponed the scheduled upload of new ballot faces on its website, originally set for Jan. 23.

Comelec started printing official ballots on Jan. 6, but the high tribunal issued five restraining orders on Jan. 14, stopping the production to include additional names in the ballots. About 6 million ballots that cost P22 each got wasted, Comelec said.

Filipinos will choose a new set of congressmen and 12 of the 24-member Senate, along with other local government officials on May 12. The Bangsamoro region will also hold its first parliamentary elections. — Chloe Mari A. Hufana

Marcos keen on closer ties with ADB

PHILSTAR FILE PHOTO

PRESIDENT Ferdinand R. Marcos, Jr. on Thursday said his government is eyeing closer cooperation with the Asian Development Bank (ADB) on the country’s development projects amid the bank’s leadership transition.

“We fully intend to increase those (development) engagements and continue to make them stronger. Again, thank you for all the help,” he told outgoing Masatsugu Asakawa during a farewell call at the Malacañang.

Mr. Asakawa is set to be succeeded by Masato Kanda, who is Japan’s Finance minister and a special advisor to the Japanese prime minister.

Last year, the ADB said it would boost investments in human development, infrastructure and disaster resilience in the next six years to help the Philippines achieve inclusive growth.

Under its Country Partnership Strategy 2024-2029, the multilateral lender committed to leverage partnerships, increase co-financing and help tailor-fit solutions based on the country’s needs.

In 2023, the Philippines got $4.5 billion (P252.8 billion) in sovereign and non-sovereign assistance from the ADB, based on a September ADB report. From last year until 2029, the loans are expected to hit at least $24 billion.

“It was the support of ADB during the pandemic. That was critical,” Mr. Marcos said. “That was absolutely critical for our recovery. Without your help it would have been a much more difficult situation for us.” — John Victor D. Ordoñez

H1 approval of ferry project eyed

PHILIPPINE STAR/EDD GUMBAN

THE TRANSPORTATION department is expecting to get the approval for the Manila Bay-Pasig River-Laguna Lake (MAPALLA) ferry system project by the first semester of the year with the expected completion of the project’s feasibility study.

“We are seeing the completion of the feasibility study by the first half of the year. We are also expecting to secure the approval for this project by the middle of the year,” Transportation Undersecretary for Planning and Project Development Timothy John R. Batan said in a statement.

The Department of Transportation (DoTr) together with the Public-Private Partnership (PPP) Center are working on the project’s feasibility study which will determine ridership forecast, number of ferry stations, and final project cost.

The project is expected to cost between P15 billion and P20 billion, the DoTr said previously.

According to Mr. Batan, the MAPALLA project’s first phase is a 30-kilometer ferry service route stretching from the Marikina River and Pasig River. It will have at least 32 ferry stations.

The project is envisioned to utilize an all-electric ferry fleet or around 40 electric ferries, which can accommodate up to 150 passengers per trip.

“Through a high-capacity, high-quality mass transit ferry, the MAPALLA Ferry System will have intermodal transfers with other transit systems and active mobility networks,” DoTr said.

The PPP Center said the project as envisioned will involve private-sector construction and development of the infrastructure and facilities, including landings and passenger terminals.

The first phase of the project will serve the Pasig and Marikina rivers while the second phase is a possible extension of ferry services into Laguna de Bay and Manila Bay. — Ashley Erika O. Jose