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Philippines among supporters of free speech

The Philippines’ level of support for free speech increased in 2024 compared to 2021, according to the latest edition of The Future of Free Speech Index developed by The Future of Free Speech, an independent, nonpartisan think tank based at Vanderbilt University. In a scale of 0-100 points, the country scored 68.6, inching up from 67.6 it logged in 2021. The index seeks to reaffirm freedom of expression as the foundation of free and thriving societies through actionable research, empowering tools, and principled advocacy. Key findings of the report highlighted important challenges and opportunities related to free speech in the 21st century.

Philippines among supporters of free speech

How PSEi member stocks performed — March 21, 2025

Here’s a quick glance at how PSEi stocks fared on Friday, March 21, 2025.

Stocks likely range-bound as market seeks leads

BW FILE PHOTO

PHILIPPINE SHARES may move sideways as the market waits for fresh leads, with bets of further monetary easing here and abroad to lift sentiment.

On Friday, the bellwether Philippine Stock Exchange index (PSEi) fell by 0.89% or 56.38 points to end at 6,266.75, while the broader all shares index dropped by 0.48% or 18.20 points to close at 3,727.12.

Week on week, the PSEi dropped by 0.43% or 27.36 points from the 6,294.11 finish on March 14.

“The local bellwether index held steady at its trading range, primarily pushed-and-pulled by interest rate-related headlines,” online brokerage firm 2TradeAsia.com said in a market note.

The US Federal Reserve last week left rates unchanged as expected, but maintained its projection for two quarter-percentage-point rate cuts by the year-end, even as Fed Chair Jerome H. Powell reiterated their cautious stance amid uncertainties stemming from the Trump administration’s policies.

Meanwhile, Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. told Bloomberg News last week that the Monetary Board could cut rates at their April 10 policy meeting following the surprise pause at their February review, especially if March inflation turns out better than expected.

Mr. Remolona added that the BSP could deliver 50 basis points (bps) in cuts this year, with 75 bps in reductions likely if economic growth weakens further.

For this week, First Metro Investment Corp. Head of Research Cristina S. Ulang said Philippine shares could be range-bound as investors look for new leads.

“We see the market moving sideways to upward on hopes for another inflation beat in March, raising odds of a 25-bp rate cut next month,” Ms. Ulang said in a Viber message.

“We caution that preemptive pricing regarding April cut can be immature as interim data can still alter the BSP’s stance. Additionally, an early cut will put parity pressure on the peso… Circumstances remain extremely fluid, and extra vigilance is warranted given event risks in early-mid April,” 2TradeAsia.com said.

Investors will continue to monitor comments from Fed and BSP officials on the direction of interest rates moving forward, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

The market will also watch out for further policy pronouncements from US President Donald J. Trump, Mr. Ricafort said. He placed the PSEi’s support at 6,000 and minor resistance at 6,275-6,530.

Mr. Trump last week hinted there would be some flexibility regarding tariffs ahead of the reciprocal duties he is expected to impose early next month, Reuters reported.

2TradeAsia.com put the PSEi’s support at 6,000 and resistance at 6,400.

“Increased risk management is key as the market approaches mid-year, knowing rate cuts are mostly backloaded into second half of 2025. Interest rate policy decisions here and abroad are to take center stage…” — R.M.D. Ochave with Reuters

Peso may consolidate vs dollar as markets wait for Trump tariff details

ANGIE REYES-PEXELS

THE PESO may continue consolidating against the dollar this week as the market waits for fresh leads, with the Trump administration’s policies remaining in focus.

On Friday, the local unit closed at P57.33 per dollar, weakening by 10.8 centavos from its P57.222 finish on Thursday, Bankers Association of the Philippines data showed.

Week on week, the peso also went down by 7.9 centavos from its P57.251-per-dollar finish on March 14.

The peso dropped against the greenback on Friday due to risk-off sentiment, a trader said in a phone interview.

“Geopolitical risk and trade war uncertainty supported demand for safe-haven assets,” the trader said.

The local unit weakened as the dollar was generally stronger against Asian currencies on Friday, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

The dollar gained ground on Friday after US President Donald J. Trump hinted he would be flexible regarding a new round of tariffs expected to be imposed early next month, Reuters reported.

Even so, lingering economic uncertainties and churning geopolitical tension kept investors cautious.

Chicago Federal Reserve President Austan Goolsbee and New York Fed President John Williams said it would be premature to gauge the economic effects of Mr. Trump’s tariff actions, and the central bank has time to determine the direction of its monetary policy.

A spate of central bank policy meetings held investors’ focus for much of the week, with the Fed, the Bank of Japan and the Bank of England all holding rates steady.

The common theme among monetary policy makers was caution, with most adopting a “wait and see” stance toward Mr. Trump’s tariffs and trade policy, which has fostered what Fed Chair Jerome H. Powell called “unusually elevated” uncertainty.

Investors await clarification on details of Mr. Trump’s reciprocal tariffs expected to take effect on April 2.

Israeli airstrikes on Gaza and a huge blast from a Ukrainian drone attack on a Russian military airfield also dampened risk appetite and raised the appeal of safe-haven assets.

US economic indicators in the coming week will include housing and industrial data. On Thursday, the Commerce department will give its third and final take on fourth-quarter gross domestic product. Its personal consumption expenditures report is due on Friday.

The dollar gained ground against the euro, ending the week higher as the approaching tariff deadline prompted caution.

The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, rose 0.33% to 104.13, with the euro down 0.32% at $1.0816.

Against the Japanese yen, the dollar strengthened 0.37% to 149.33.

US 10-year Treasuries turned higher to snap a four-day streak of declines as investors weighed tariff uncertainties against the probability that the Fed will hold rates steady for the time being.

The yield on benchmark US 10-year notes rose 1.9 basis points to 4.252% from 4.233% late on Thursday.

For this week, the trader said the peso could continue to consolidate against the greenback “as the market awaits clear signals from the Trump administration regarding the trade war and geopolitical risk and the effect of tariffs.”

“The market is directionless amid those issues,” the trader added.

“The Trump administration is preparing to announce a fresh wave of tariffs on April 2, though the exact scope is not clear,” Mr. Ricafort likewise said.

For this week, the trader said the peso could move between P57.10 and P57.50 per dollar, while Mr. Ricafort sees it ranging from P57 to P57.50. — A.M.C. Sy with Reuters

FEU beats UST to share UAAP S87 third spot

FEU LADY TAMARAWS — UAAP/NEO GARCIA

Games on Wednesday
(Filoil EcoOil Centre)
9 a.m. – UP vs NU (men)
11 a.m. – UP vs NU (women)
3 p.m. – UE vs FEU (men)
5 p.m. – UE vs FEU (women)

FAR EASTERN UNIVERSITY (FEU) reasserted mastery of University of Santo Tomas (UST), 25-22, 26-24, 17-25, 26-24, to shake up the leaderboard in the UAAP Season 87 women’s volleyball on Sunday at the Mall of Asia Arena.

Faida Bakanke erupted for 22 points to lead the way for the FEU Lady Tamaraws, who clawed back from a 10-16 deficit in the fourth set to complete another four-setter win over the suddenly skidding UST Golden Tigresses.

FEU, which took a 25-19, 16-25, 25-14, 25-20 win over Santo Tomas in the opener, dragged the latter to a share of third spot with similar 5-3 slates just behind unbeaten champion National University (7-0) and now-second placer De La Salle University (5-2).

Ms. Bakanke drew solid coverage from Gerzel Petallo and Jazlyn Ellarina with 12 points each as Tin Ubaldo provided 22 sets to engineer FEU’s offense. Ms. Petallo added 15 digs.

“I had high expectations from them this game given the bigger responsibility in the second round. We had high expectations given the stakes at positioning so it’s a good start. We look forward to more,” said coach Tina Salak.

FEU did, hacking out gritty wins in the first two sets in thrilling fashions to set the pace in the duel between two of the closest challengers to NU’s reign.

The Lady Tamaraws dropped the third set and were on the verge of allowing a decider only to flip the switch from a six-point deficit. FEU was still trailing 23-24 before firing three straight points — courtesy of veterans Chenie Tagaod, Mitzi Panangin and Jean Asis to seal the win.

Regina Jurado and Maribeth Hilongo scored 20 and 17 points, respectively, while MVP contender Angge Poyos only had 14 in Santo Tomas’ second straight loss after a five-game winning streak at one point.

From cruising to solo second place with a chance to overtake NU in the first round, Santo Tomas now deals with immense pressure from FEU and La Salle for the coveted second seed and a twice-to-beat edge in the Final Four.

In the men’s division, Far Eastern (8-0) extended its unbeaten campaign with a sweep of Santo Tomas (4-4), 26-24, 25-23, 25-19, while La Salle (5-3) stunned four-peat champion NU (6-2), 25-22, 25-27, 25-21, 25-17. — John Bryan Ulanday

Top seeds Zverev, Sabalenka advance at Miami Open

ARYNA SABALENKA — FACEBOOK.COM/MIAMIOPENTENNIS

WORLD NUMBER ONE Aryna Sabalenka reached the last 16 at the Miami Open when Elena-Gabriela Ruse retired injured on Saturday, while men’s top seed Alexander Zverev beat Jacob Fearnley 6-2, 6-4 to reach the third round.

Sabalenka, who arrived in Miami fresh off a defeat in last week’s Indian Wells final, wrapped up the first set 6-1 before Romanian Ruse was forced to retire with a right thigh injury.

Up next for three-times Grand Slam champion Sabalenka will be American defending Miami champion Danielle Collins, who beat Swiss qualifier Rebeka Masarova 6-4, 3-6, 6-3.

Former world number one Naomi Osaka prevailed 7-6(6), 3-6, 6-4 against American wildcard Hailey Baptiste and will play Italian sixth seed Jasmine Paolini, who advanced when Ons Jabeur retired with a left leg injury while trailing 4-3 in the first set.

Osaka, who returned to action in January 2024 after a 15-month break during which she had a baby, said her fitness level is better now than it was in 2021 when she won the most recent of her four Grand Slam titles.

Third seed Coco Gauff also progressed with a 6-2, 6-4 win over Greece’s Maria Sakkari while Olympic champion Zheng Qinwen advanced with a 6-1, 7-6(3) win over Taylor Townsend.

Local hope Ashlyn Krueger stunned 26th seed and former US Open runner-up Leylah Fernandez to set up a meeting with Zheng.

HONG KONG WILDCARD
On the men’s side, Zverev looked comfortable against British qualifier Fearnley as the German mixed a solid serve with dominance from the baseline while saving the only two break points he faced during the 74-minute match.

For Zverev, who lost at the first hurdle in Indian Wells, the win gave him a German record 145th Masters 1000 win, one more than Tommy Haas. He now faces Australia’s Jordan Thompson.

Indian Wells champion Jack Draper crashed out 7-6(2), 7-6(3) to Czech Jakub Mensik.

The match was temporarily suspended when a large crowd of Brazilian spectators, who were waiting to watch Joao Fonseca’s clash with Ugo Humbert due next at the same venue, expressed their anger when that match was shifted to the main stadium.

The fans, some of whom had waited for hours at Grandstand, booed as they left the venue, but were delighted when Fonseca later got past Humbert 6-4, 6-3.

“I really liked the decision, because I already played my first round there, so I knew how the court was, the atmosphere,” said the 18-year-old Fonseca.

Reilly Opelka rallied to beat Danish 11th seed Holger Rune 4-6, 6-3, 7-6(5) and with Draper, Carlos Alcaraz and Daniil Medvedev all losing this week there are no Indian Wells semifinalists left in the men’s draw at Miami.

Hong Kong wildcard Coleman Wong stunned 13th seed Ben Shelton 7-6(3), 2-6, 7-6(5) to advance, while Canada’s Denis Shapovalov and American third seed Taylor Fritz also won and will meet in the third round. — Reuters

Yulo, Petecio, and Villegas get their house and lot in Tagaytay

THE Philippine Olympic Committee (POC) officially on Sunday turned over the house and lot in Tagaytay to Paris Olympics gymnastics double-gold medalist Carlos Yulo and boxing bronze winners Nesthy Petecio and Aira Villegas for their feats in the French capital.

“Grateful and feeling blessed for the house and lot and I’m also thankful to the POC for helping us in our Olympic preparation in Paris,” said Mr. Yulo during the house blessing that was also attended by Philippine Olympic Committee President Abraham Tolentino.

“Thank you also to sir Bambol (Tolentino) for continuously keeping us Filipino athletes to stay inspired and motivated,” he added.

Mr. Tolentino, for his part, it’s all about the athletes.

“This is for the Filipino athletes, not for us, but for them who sacrificed for our nation,” said the Tagaytay mayor and PhilCycling chief.

The Tagaytay bonus was just one of the rewards received by Mr. Yulo after he also received at least P100 million worth of incentives that included a condominium at a posh place in Taguig for his floor exercise and vault gold in Paris.

Like Mr. Yulo, Mses. Petecio and Villegas also received a two-story, 180 to 200-meter square unit each.

In the middle of these units by the three are two available slots, which will be reserved for future 2028 Los Angeles (LA) Games medalists.

It will be the second unit for Ms. Petecio after she also got one nearby for her Tokyo Olympics silver four years ago.

“I will be living here in this house with my brother and family and I will rent out the first house,” said Ms. Petecio.

Ms. Petecio said she is going for a third medal in LA, hopefully a gold.

“I hope to qualify to LA and get the gold since I already had silver and bronze,” she added. — Joey Villar

Knicks get back to winning, overwhelming Wizards

KARL-ANTHONY TOWNS collected 31 points and 11 rebounds Saturday night, helping the New York Knicks post a 122-103 win over the visiting Washington Wizards.

Mikal Bridges added 27 points while OG Anunoby had 23 for the Knicks (44-26), which snapped a two-game losing streak. Cameron Payne tallied 13 points, while Josh Hart had nine points and 12 rebounds.

Jordan Poole had 25 points for the Wizards (15-55), who dropped their fourth in a row. Marcus Smart scored 17 and Kyshawn George finished with 15 points and 10 rebounds.

Holding a 25-point halftime lead, the Knicks’ commanding advantage ballooned to 31 after Towns opened the third quarter with four straight free throws and Hart’s dunk extended the lead to 72-41 with just over a minute gone.

Later trailing by 31, Washington answered with an 11-0 run — including AJ Johnson’s two triples and Poole’s 3-pointer.

Smart’s trey closed out the quarter’s scoring, cutting the Knicks’ lead to 92-76 entering the fourth.

Washington’s run continued into the final quarter, with another Smart 3-pointer stamping a 12-0 Wizards’ spurt to pull within four.

Anunoby’s pair of layups and Hart’s basket later capped the Knicks’ 15-2 run, extending the lead to 107-90 with 5:23 left. The lead was again pushed to 17 on Towns’ 3-pointer with 3:46 remaining.

After Payne’s 10 first-quarter points helped New York to a 31-21 lead entering the second, Bub Carrington’s layup pulled Washington within eight at the 9:22 mark. From there, New York’s three-point barrage consumed the Wizards, as Anunoby’s consecutive triples and Bridges’ three straight treys gave the Knicks a 48-26 lead almost midway through the second quarter. — Reuters

Contenders or paper tigers

The Lakers paraded a relatively healthy lineup against the Bulls on Sunday, a veritable luxury given their frequent bouts with injury throughout their 2024-25 campaign. Including the monumental trade that saw them acquiring Luke Dončić and letting go of Anthony Davis, the roster instability has had them practically adjusting on the fly in every outing. Given the extent of the scrambling they have had to do, it’s a wonder they headed into the homestand with a respectable slate in the extremely competitive Western Conference.

All the same, the Lakers fully expected a win at Crypto.com Arena. After all, they were playing hosts against the lowly Bulls, embarrassed owners of 40 losses with a full three-fifths by double figures. Instead, they wound up being chased off the floor in grand fashion. And so badly did they perform that head coach JJ Redick felt compelled to empty his bench with half the fourth quarter still to be negotiated. Never mind that a 20-point deficit remained surmountable considering the pace and invariable reliance on the three in the modern game.

Clearly, Redick had seen enough to conclude that the Lakers were out of it, literally and figuratively. They had already coughed up a whopping 21 turnovers by then, with a fair number of the sloppy variety. And their evident lack of focus and effort was even worse on the other end of the court. Time and time again, the Bulls either wound up with open tries from beyond the arc or glaring mismatches in the paint. The scrambling defense that became their calling card since the turn of the year was all but nonexistent.

Perhaps the Lakers simply caught a perfect storm, needing to get returning cogs LeBron James and Rui Hachimura to fit in as part of an increasingly heliocentric offense with Dončić at the helm. Not coincidentally, the latter was nothing short of spectacular at the start of the set-to, but seemed to get relegated to the background in the second half. Needless to say, they will have their work cut out for them as they navigate the remainder of the regular season.

If there’s any consolation, it’s that Redick and lead assistants Nate McMillan and Scott Brooks have seen enough success to plot a winning formula to go deep in the playoffs. Until then, though, they need to find the right balance between aiming for short-term gains and ensuring longer-term cohesiveness. Else, they run the risk of falling woefully short of potential. Are they bona fide contenders? Or are they paper tigers? The next three weeks figure to provide the answer.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operations and human resources management, corporate communications, and business development.

PPA to cancel Camarines Norte port auction

JOSE PANGANIBAN PORT FACEBOOK

THE Philippine Ports Authority (PPA) will recommend the cancellation of the Jose Panganiban, Camarines Norte port improvement project auction, citing a possible change of location and project design.

In a notice signed by PPA General Manager Jay Daniel R. Santiago, the regulator said it is postponing the auction until further notice.

“There is a need to cancel the bidding and other procurement activities of the proposed project because of the on-going evaluation of a potential new location for the project, possible changes in the plans, design and cost of the project,” the PPA said.

In January, the PPA allocated P2.11 billion to improve Jose Panganiban port to make it suitable for servicing the offshore wind industry.

The Department of Energy (DoE) designated Jose Panganiban port as one of three ports scheduled for repurposing for the offshore wind industry.

Situated close to 14 offshore wind energy service contracts, Jose Panganiban is expected to service wind farms with an estimated capacity of 8,150 megawatts (MW). Two projects in the area are in the advanced pre-development phase.

Jose Panganiban is also among PPA’s 14 flagship projects valued at P16 billion, scheduled for completion by 2028.

To date, the Department of Energy (DoE) has awarded 92 offshore wind energy service contracts to 38 renewable energy developers with a total potential capacity of 69.06 gigawatts (GW).

According to the Philippine Offshore Wind Roadmap, the Philippines has a potential capacity of about 63 GW if it taps offshore wind resources.

Also identified as priorities for redevelopment as offshore wind service bases are Currimao, Ilocos Norte and Sta. Clara, Batangas City.

Last year, the PPA awarded the P839.18-million Currimao Port expansion project to Davao-based construction company Khan Kon Chi Construction and Development Corp. — Ashley Erika O. Jose

Building resilience in the financial sector

First of two parts

IN BRIEF:

• Technology dependence in the financial sector is increasing the number of potential failure points due to connections with unregulated third parties.

• Financial institutions must proactively enhance their operational resilience and risk management practices.

• Firms should leverage innovative technologies to improve their ESG reporting processes and enhance their oversight and understanding of risks within less transparent markets, networks and ecosystems.

The financial sector’s dependence on technology is increasing the number of potential failure points due to connections with unregulated third parties. These vulnerabilities can be exploited by malicious actors, or as demonstrated by a significant IT outage in July 2024, can arise even from non-malicious causes.

This article explores more detailed insights about building resilience against vulnerabilities and external threats based on the 2025 EY Global Financial Services Regulatory Outlook. It is the last article in a series that discusses the salient concerns of the banking and financial industry in 2025 and into the future.

OPERATIONAL RESILIENCE
Recent incidents, such as ongoing conflicts, natural disasters, and a global IT failure, have heightened regulator attention on firms’ capacity to withstand significant operational disruptions. With various jurisdictions implementing new standards aimed at enhancing firm’s operational risk management, financial institutions must understand their end-to-end service delivery process and identify how it could be interrupted.

Regulators are particularly concerned about additional risks posed by the financial sector’s increasing dependence on third-party technology providers, including vendor and cyber risks. Their scrutiny has intensified since the disruption in July 2024. Although the effects were swiftly managed, this event sparked renewed interest in forthcoming regulations aimed at addressing risks that arise outside the regulated environment.

For example, the Basel Committee previously issued a consultative document proposing principles for the sound management of third-party risk, a set of unified standards that advocate for a more stringent approach to address banks’ increasing reliance on third-party service providers amidst the ongoing digital transformation of banks and rapid growth in financial technology. The proposal seeks to establish a common baseline for banks and supervisors for the risk management of third-party arrangements while simultaneously allowing the required flexibility to consider evolving practices and regulatory frameworks across jurisdictions.

In Europe, both UK and EU regulators are expanding their oversight to encompass the provision of essential services to the financial sector, aiming to lessen the potential impact of disruptions or failures by third-party service providers on financial stability and implementing measures to enhance cyber resilience. Financial institutions governed by the Digital Operational Resilience Act (DORA) must ensure they can prevent, withstand, and recover from significant information and communication technologies or ICT-related disruptions.

DORA’s objective is to reduce the risks associated with digital transformation through uniform rules on operational resilience. It aims to mitigate risks posed by growing vulnerabilities due to the increasing interconnectivity of the financial sector, address the shift in risk profile because of the increase in financial services digital adoption, and address the third-party reliance underpinning the stability of the financial sector. It casts a wide net, covering traditional institutions such as credit and payment firms and insurers, electronic money institutions, and crypto-asset providers and issuers. Financial information managers, data information service providers, credit rating agencies and critical ICT third-party providers — specifically digital and data service providers, software, data analytics services, and data centers — are also in scope under DORA.  Further, new cyber regulations took effect in the EU in October 2024 in the form of the Network and Information Security (NIS2) Directive, a unified legal framework to promote cybersecurity in 18 critical sectors.

In the UK, the Bank of England, the Prudential Regulation Authority (PRA), and the Financial Conduct Authority (FCA) have finalized their rules and supervisory expectations for the critical third-party regime (CTP). This regime, which will apply to third parties designated as CTPs by the Treasury, will manage financial stability risks stemming from a limited number of technology providers that serve multiple financial institutions. The Treasury is the British government’s economic and finance ministry responsible for managing public spending, setting economic policy, and ensuring the sustainability of British finances.

According to the 2024 EY Global Risk Management Survey, risk management organizations continue to prioritize operational resilience, with Chief Risk Officers (CROs) expecting it to be the second most significant issue behind only cybersecurity. As much as 53% of CRO respondents from the Asia-Pacific region consider operational resilience to be a notable bigger concern. Board and management focus is now driving the prioritization of operational resilience in all areas of the business — data, third party, cyber, critical business services framework/business continuity, technology/disaster recovery, testing, measurement and monitoring, crisis and incident management, and workforce. The exception is governance and oversight, which is primarily driven by regulatory and supervisory focus.

The Bangko Sentral ng Pilipinas (BSP) also issued Circular No. 1203 Guidelines on Operational Resilience, which aim to promote and strengthen the ability of BSP-supervised financial institutions to manage and mitigate the impact of disruptions, particularly on their critical operations. The guidelines require covered institutions to integrate operational resilience with existing governance and related risk management processes and already consider similar principles from the Basel Committee.

Financial institutions should revisit business continuity arrangements to prepare for intensifying supervisory scrutiny, ensuring that organizations are ready to demonstrate their resilience in the face of disruptions. Regulators expect the incorporation of technology disruption scenarios in stress testing exercises. By anticipating these scenarios, organizations can better understand their vulnerabilities and strengthen their response strategies. Firms should conduct a thorough assessment of risks within their end-to-end service delivery processes, identifying potential exposures from third-party providers.

The second part of this article will discuss the growing emphasis on nature-related risks and the need for firms to understand these implications for their business strategies, while also addressing the rise of non-bank financial institutions (NBFIs) and the associated regulatory challenges.

This article is for general information only and is not a substitute for professional advice where the facts and circumstances warrant. The views and opinions expressed above are those of the author and do not necessarily represent the views of SGV & Co.

 

Christian G. Lauron is the financial services organization (FSO) leader of SGV & Co.

PHL told to use visit of top US defense official to seal equipment purchase

DVIDS/ LANCE CPL. ISAIAH CAMPBELL

By Adrian H. Halili, Reporter

THE PHILIPPINE government should use the upcoming visit of the US’ top defense official to push the purchase of new military equipment and assets, political analysts said as the weekend.

Both countries should “use this opportunity to continue talking about purchasing new military assets to help us with efforts to upgrade our military capabilities,” Arjan P. Aguirre, who teaches political science at the Ateneo de Manila University, said in a Facebook Messenger chat.

At the weekend, the US Embassy in Manila said US Defense Secretary Peter Brian Hegseth would visit Manila on March 28 to 29 for a meeting with Philippine President Ferdinand R. Marcos, Jr. and Defense Secretary Gilberto C. Teodoro, Jr.

“Secretary Hegseth’s trip comes as the United States builds on unprecedented cooperation with like-minded countries to strengthen regional security,” it said in a statement.

It said the meeting seeks to advance security objectives with Philippine leaders and meet with US and Philippine forces. Mr. Hegseth will also visit Hawaii, Guam and Japan.

“Hegseth’s visit demonstrates US interests to sustain US alliance with the Philippines under Trump 2,” Rommel C. Banlaoi, chairman of the Philippine Institute for Peace, Violence and Terrorism Research, said in a Viber message.

“It remains to be seen whether this visit will elevate the US-Philippine alliance to a higher plane under Trump,” he added.

The US should focus on its security and defense agreement with the Philippines, Chester B. Cabalza, founding president of Manila-based think tank International Development and Security Cooperation, said via Messenger chat.

“Their security umbrella to the region should not turn sour as with what happened to their allies in Europe,” he added.

US President Donald J. Trump, who started his second term on Jan. 20, said European nations should spend more on their own defense and avoid relying on the US through the North Atlantic Treaty Organization.

Mr. Cabalza said the US defense chief’s visit signifies a renewed defense commitment to the Philippines under the Trump government.

Mr. Aguirre said he expects the US envoy’s visit to lead to “clear assurances that the US will still honor or perhaps never change much of its policies on the Philippines especially when it comes to military partnership and assistance.”

The Philippines has a visiting forces agreement with the US, Japan and Australia. The country has been seeking more foreign defense deals with countries like the US, Japan and Canada amid increasing tensions with China.

Manila and Beijing have repeatedly clashed in the South China Sea, with both sides accusing each other of raising tensions.

A United Nations-backed tribunal based in The Hague in 2016 voided China’s claims to more than 80% of the waterway, for being illegal.

The South China Sea is a vital waterway for more than $3 trillion of annual ship-borne commerce. Aside from China and Philippines, Brunei, Indonesia, Malaysia and Vietnam also claim parts of the sea.

Mr. Cabalza said the Marcos government finalize the purchase of new warplanes and secure potential deals to improve equipment of the Philippine Navy and Philippine Cost Guard.

Mr. Teodoro last year said the country was mulling the purchase of 40 F-16 fighter jets from the US to for the Armed Forces of the Philippines.

The Philippines has allotted about P35 billion for the modernization of the military over the next decade as it tries to counter Chinese aggression in the region.

Armed Forces of the Philippines Chief of Staff General Romeo S. Brawner, Jr. earlier said the government is looking to buy more military hardware to modernize its arsenal, including additional BrahMos missiles from India and at least two submarines.

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