Four Filipino women executives have been named among Fortune’s 100 Most Powerful Women in Asia for 2026

Four Filipina CEOs make Fortune’s Asia power list

Nazylen Joy Mabanglo
The Manila Times
06 October 2026

MANILA, Philippines — Four Filipino women executives have been named among Fortune’s 100 Most Powerful Women in Asia for 2026, with Mynt President and CEO Martha Sazon ranking highest among the Philippine contingent at 35th.

Land Bank of the Philippines President and CEO Lynette Ortiz ranked 77th, followed by Megaworld President and CEO Lourdes T. Gutierrez-Alfonso at 87th and UnionBank President and CEO Ana Maria Aboitiz Delgado at 98th.

The four represent key sectors of the Philippine economy, including financial technology, government banking, real estate and commercial banking.

Sazon leads the company that runs GCash, the country’s largest fintech platform, which is preparing to list on the Philippine Stock Exchange on Oct. 20 through an initial public offering that is expected to raise about P61 billion.

The offering is on track to become the country’s largest IPO, with cornerstone commitments from global investors including BlackRock, T. Rowe Price and the International Finance Corp.

GCash has been used by about 90 million Filipinos, while its monthly active users stand at about 41.5 million, according to Fortune.

Ortiz, meanwhile, the 11th president and CEO of LandBank, was appointed to lead the state-run lender in 2023 after three decades in the banking industry. She previously became the first Filipino to serve as chief executive of Standard Chartered Bank Philippines.

Under Ortiz, LandBank posted a record P44 billion in net income in 2025, up 24 percent year-on-year, while declaring P32.6 billion in dividends to the national government in 2026.

Gutierrez-Alfonso ranked 87th, up from 92nd in the previous year. She has served as Megaworld president and CEO since June 2024 after joining the company in 1990, about six months after its establishment.

Megaworld posted a record P24 billion in net income in 2025 on P86 billion in revenue. However, growth has moderated, with the property developer cutting its 2026 project launches and capital expenditures. Its net income rose 5 percent in the first half of 2026.

Delgado, a fifth-generation member of the Aboitiz family, ranked 98th. She joined UnionBank in 2003 after working at Citibank and became the bank’s president and CEO in January 2025.

In March, Delgado became the first woman to lead the Bankers Association of the Philippines in the organization’s nearly 80-year history. She has also advocated the use of artificial intelligence in banking, comparing its potential impact with the emergence of internet banking.

UnionBank reported P9.9 billion in net income in 2025, down 17 percent from a year earlier, amid one-off charges. The bank generated P83.2 billion in revenue and served 18.6 million customers.

Philippines forecast to be second fastest-growing economy in SE Asia through 2035

Philippines projected to be second fastest-growing economy in SE Asia until 2035

BusinessWorld
September 17, 2026

THE PHILIPPINES could emerge as Southeast Asia’s second fastest-growing major economy over the next decade, with growth averaging 5.8% through 2035, according to a report by Bain & Company, DBS Group Holdings, and Vriens & Partners. 

In the Southeast Asia Outlook 2026-2035 report released on Wednesday, the Philippine economy is projected to grow at an average annual rate of 5.8% from 2026 to 2035 under the baseline scenario.

“The Philippines, which has a favorable demographic tailwind, could grow at a 5.8% average annual rate as consumption, infrastructure, and governance reforms unlock investment,” the report said.

This would make the Philippines’ gross domestic product (GDP) growth the second-fastest among the six major Southeast Asian economies covered by the report, behind only Vietnam, which is projected to expand by an average of 6.2% annually until 2035.

The Philippine economy is expected to outpace Indonesia (5.4%), Malaysia (4.3%), Singapore (2.7%), and Thailand (2.2%).

Philippine GDP growth over the 10-year horizon is also above the 4.8% average for the six Southeast Asian economies.

The latest regional forecast for Southeast Asia is slower than the earlier average expansion of 5.1% for the 2024-2034 period, reflecting a more complex and volatile global environment.

However, the Philippine economy is experiencing a sharp slowdown this year, averaging 2.6% in the first half. The government is targeting 3.5%-4.5% GDP growth for 2026, and 5%-6% annually from 2027 to 2030.

Despite its relatively strong baseline forecast, the Philippines is also among the Southeast Asian economies facing the greatest downside exposure, according to the report.

The report noted that Indonesia, the Philippines, and Thailand would be the most exposed under a downside scenario because of their “capital-flow sensitivities, energy dependence, political uncertainty, and weaker structural momentum.”

Under more favorable global conditions, the Philippines could also capture less upside than Malaysia, Singapore, and Vietnam, which are better positioned to benefit from their roles in capital intermediation and global manufacturing supply chains. 

“Indonesia, Thailand, and the Philippines see more limited benefit, as persistent structural constraints limit their ability to translate an improved external environment into stronger growth,” the report said.

The Philippines’ favorable demographics, steady remittance inflows, and consumption-led  economic model provide some insulation from disruptions to global trade, it added.

However, it warned that the country’s dependence on imported energy, weaknesses in policy implementation and artificial intelligence (AI)-driven disruption to the outsourcing industry could prevent the economy from reaching its full potential.

The report also pointed to longer-term risks from AI-driven automation to the country’s business process outsourcing industry.

“Without stronger energy security and governance consistency, growth could be capped below the Philippines’ potential,” it said.

The report said that one of the Philippines’ immediate challenges is managing the transition to AI.

“The next few years will be critical; the Philippines must move into higher-value services while sustaining reform momentum through its next leadership transition,” it said.

The country also needs to strengthen its energy system, as gains in Philippine technology services have been constrained partly by limitations in the power grid. 

Across Southeast Asia, the report said growth over the next decade will increasingly depend on stronger institutions, more reliable energy systems and the ability to use AI to raise productivity.

“Dependence on imported energy quickly turns external price shocks into household inflation, while weak policy implementation hinders the conversion of investment commitment into actual deployment,” the report said.

It said grid capacity and reliability will be increasingly important in determining whether economies can expand their industrial bases and support power-intensive AI infrastructure.

The Philippines has already fallen short of the report’s earlier growth expectations. From 2024 to 2025, the economy grew by an average of 5.1%, compared with the 6.1% average assumed in their previous 2024-2034 forecast.

“The Philippines saw growth impeded by weaker investment and public sector execution,” the report said. — Justine Irish D. Tabile

South Korea keen on investing in Luzon Economic Corridor

Philippines, South Korea scaling up economic cooperation

Aubrey Rose Inosante

Philstar Global

10 July 2026

MANILA, Philippines — The Philippines and South Korea are scaling up economic cooperation through strategic investments under the Luzon Economic Corridor (LEC) and potential collaboration on nuclear energy, the Department of Finance (DOF) said.

Finance Secretary Frederick Go and Korean Ambassador Lee Sang-Hwa reaffirmed their commitment to expanding economic cooperation, including opportunities under the LEC.

The two countries are strengthening their economic partnership through strategic investments in high-value manufacturing, semiconductors, shipbuilding and infrastructure.

The partnership leveraged Korea’s technical expertise and the Philippines’ young workforce, the DOF said.

“These investments represent opportunities for Filipinos through better jobs, improved connectivity and more reliable services. We look forward to working closely with Korea to deliver projects that are truly responsive to the needs of the people,” Go said.

Among the investments mentioned was the expansion of the multilayer ceramic capacitor (MLCC) manufacturing facility of Samsung Electro-Mechanics Philippines in Laguna.

MLCCs are vital components of automobiles, smartphones and other electronic devices.

Go and the Korean envoy also noted SFA Semicon’s proposed expansion investment, HD Hyundai Heavy Industries’ shipbuilding operations in Subic and the construction of two major railway projects that will enhance connectivity across Luzon.

The Philippines and Korea are likewise deepening maritime cooperation through HD Hyundai Heavy Industries Philippines, which is set to launch its first locally built vessel at its Subic shipyard this year.

Korea is also a key partner in the construction of the North-South Commuter Railway and the Subic-Clark-Manila-Batangas Railway, which are touted to slash travel time and cost.

Potential cooperation on nuclear energy to diversify the country’s energy mix and support long-term economic growth was also explored.

“As a trusted and enduring partner, the Republic of Korea remains committed to deepening substantive cooperation with its strategic partner, the Philippines, to build a shared future marked by mutual prosperity, resilience and sustainable growth,” Lee said.

PH ranks 3rd fastest in intangible investment growth—WIPO

PH ranks 3rd fastest in intangible investment growth—WIPO

Logan Kal-El M. Zapanta 
Inquirer.net
08 July 2026

MANILA, Philippines – The Philippines ranked as the world’s third-fastest-growing market for intangible investments in its first appearance in a World Intellectual Property Organization (Wipo) report, making it the only Southeast Asian economy included.

In its World Intangible Investment Highlights 2026, Wipo said the Philippines’ intangible investments grew by 4.6 percent from 2021 to 2022, following only India (7.9 percent) and Japan (4.8 percent) among the 29 economies covered.

From 2012 to 2022, the country’s intangible investments grew at a compound annual growth rate of 3.9 percent, expanding the global average of 3.5 percent.

According to Teodoro Pascua, director general of the Intellectual Property Office of the Philippines, the findings showed the country’s growing investment in knowledge-based assets as it enters upper-middle-income status.

“As the Philippines enters upper-middle-income status, our rapid gains in R&D, software and brands show that we are paving the way toward that future,” Pascua said during the report’s launch on Wednesday. 

Valued at $49.1B

Wipo estimated the Philippines’ intangible investments at $49.1 billion in 2022.

Among the different asset classes, research and development (R&D) posted the fastest growth, growing at a compound annual rate of 20.1 percent from 2012 to 2022.

Software and databases followed at 18.3 percent, making the Philippines the fastest-growing economy in that category.

Wipo Assistant Director General Marco Alemán said the country’s investment in software and data, which averaged more than 80 percent annual growth over the past decade, reflected a shift “from an economy of things to an economy of ideas.”

Although R&D and software accounted for only about 15 percent of the country’s total intangible investments, spending on R&D increased more than sixfold during the period, while investment in software and databases grew more than fivefold.

Organizational capital remained the country’s largest intangible asset, accounting for 48.3 percent of total intangible investments, followed by brands at 28.9 percent.

Brand investments reached $14.2 billion, placing the Philippines among the world’s 12 largest investors in the category.

Despite the strong growth, intangible assets accounted for only 4.4 percent of GDP in 2022, compared with 20 percent for tangible investments, WIPO said. 

The report, now in its third edition, covers 29 economies representing about 57 percent of global GDP. Global intangible investments surpassed $10 trillion in 2025 for the first time, an all-time high. /pai INQ

Nine Young Filipinos makes it on Forbes' Asia List 2026

Nine PH entries land on Forbes' 30 Under 30 Asia list 2026

Jon Viktor D. Cabuenas
GMA News
29 May 2026

Nine entries from the Philippines were included in this year’s Forbes “30 Under 30 Asia” list, which recognizes entrepreneurs, leaders, and innovators across the Asia-Pacific region “pushing the boundaries” in their respective fields.

The listees were chosen from close to 4,000 candidates who were evaluated by the Forbes Asia team and a panel of judges based on factors such as funding and revenue, social and industry impact, product-market fit, inventiveness, and potential.

Below are the listees from the Philippines, with cofounders of the same company listed together as one entry:

BayaniChain Tech cofounders Raphael Sevilla and Brandon Angelo Wong

Photo: Forbes| People Asia

Tennis player Alexandra Eala

Photo: Alex Eala Official | Screencap

Singer-songwriter Zack Tabudlo

Photo: Zach Tabudlo Official | Screencap

Amico Innovations cofounder Kharl Christian Yeung

Photo: Forbes | People Asia

Fan connection SEA cofounders Pauline Dizon and Adrian Jumangit

Photo: Forbes | People Asia

GoRocky cofounders Kiyanusch Braun and Martin Joaquin Palaña

Photo: Instagram | People Asia

ASEAN Youth Advocates Network founder Emmanuel Mirus Ponon

Photo: Facebook Profile | People Asia

Empath founder Steph Naval

Photo: Instagram | People Asia

Siklab founder Saje Miguel Molato

Photo: Siklab Pilipinas | Screencap

“The 11th edition of the Forbes 30 Under 30 Asia list spotlights a fresh wave of young minds from across Asia Pacific, who continue to innovate and disrupt their industries at a time when artificial intelligence is reshaping our daily lives,” Forbes Asia editorial director Rana Wehbe Watson said in an emailed statement.

“From entrepreneurs building companion robots and AI tools to up-and-coming stars stepping into the global spotlight, this year’s listees illustrate Gen-Z’s influence across business and culture in the region,” she added.

The list covers 10 categories: AI; Consumer & Enterprise Technology; Entertainment & Sports; Finance & Venture Capital; Healthcare & Science; Industry, Manufacturing & Energy; Retail & Ecommerce; Social Impact; Social Media, Marketing & Advertising; and The Arts.

India had the most entries for the year with 78, followed by China with 46, Australia with 38, and Japan with 32. Indonesia, Singapore, and South Korea all had 18. —VAL, GMA News

Philippines listed 15 Billionaires in 2025

15 Philippine tycoons led by Villar among Forbes ‘World’s Richest People’

Inquirer.net
01 April 2025

MANILA, Philippines — Fifteen tycoons from the Philippines, led by property magnate Manuel Villar, made it to Forbes Magazine’s World’s Richest People for 2025.

Almost the same names made the cut this year, although the list from the country is a bit shorter than the 2024 roster, which had identified 16 local billionaires with net worth exceeding $1 billion.

One notable newcomer is Eusebio Tanco, whose wealth was buoyed by the surge in the valuation of online gaming firm Digiplus Interactive Corp.

Villar topped the list with an estimated net worth of $17.2 billion. Recently, the “brown taipan” announced that Golden MV Holdings Inc., the mass housing and memorial park developer that he leads, hit nearly P1 trillion in net profit in 2024 on gains from the assessment of its investment properties, the highest in Philippine history.

Ranking second is ports and casino tycoon Enrique Razon, with an estimated wealth of $10.9 billion.

San Miguel Corp. chair Ramon Ang placed third with $3.7-billion net worth, followed by Lucio Tan with $3 billion.

Sy family

All the six children of the late SM group founder Henry Sy Sr. landed on the list individually: Henry Jr. ($2.3 billion); Hans ($2.2 billion), Herbert ($2.1 billion), Harley ($1.9 billion), Teresita ($1.9 billion) and Elizabeth ($1.7 billion).

Andrew Tan had $1.6 billion credited to his name, followed by Lucio Co ($1.4 billion), Susan Co ($1.3 billion) and Tony Tan Caktiong ($1.3 billion).

Tanco rounded up the list with an estimated wealth of $1.2 billion.

The list

The 15 tycoons and their estimated net worth are as follows:

1. Manuel Villar, $17.2 billion
2. Enrique Razón Jr., $10.9 billion
3. Ramon Ang, $3.7 billion
4. Lucio Tan, $3 billion
5. Henry Sy Jr., $2.3 billion
6. Hans Sy, $2.2 billion
7. Herbert Sy, $2.1 billion
8. Harley Sy, $1.9 billion
9. Teresita Sy-Coson, $1.9 billion
10.  Elizabeth Sy, $1.7 billion
11. Andrew Tan, $1.6 billion
12. Lucio Co, $1.4 billion
13. Susan Co, $ 1.3 billion
14. Tony Tan Caktiong, $1.3 billion
15. Eusebio Tanco, $1.2 billion

Elon Musk tops global list

Forbes announced a record-breaking 3,028 billionaires with collective wealth of $16.1 trillion on its 39th annual World’s Billionaires list.

Elon Musk dethroned French luxury goods titan Bernard Arnault for the top spot, as the former’s net worth grew by 75 percent to an estimated $342 billion. His jump in wealth followed big new valuations of xAI and SpaceX, and a 12-month rise in Tesla stock, despite the recent selloff.

Musk, a close ally of President Donald Trump, is the first person on the planet to reach the $300 billion mark.

On the other hand, President Trump more than doubled his net worth to an estimated $5.1 billion, due to the upswing in shares of Trump Media & Technology Group and big cash inflows from his recent crypto ventures.

“It’s another record-breaking year for the world’s richest people, despite financial uncertainty for many and geopolitical tensions on the rise,” said Chase Peterson-Withorn, Forbes Senior Editor, Wealth.

“And, from Elon Musk to Howard Lutnick and the other billionaires taking over the U.S. government, they’re growing more and more powerful.”

Meta chief Mark Zuckerberg took the No. 2 spot with an estimated net worth of $216 billion, followed by Jeff Bezos at No. 3 ($215 billion), Larry Ellison at No. 4 ($192 billion) and Bernard Arnault & family ($178 billion) rounding out the top five. – Doris Dumlao-Abadilla

PH poised to become the next SEA tech center

Emerging startup trends in the Philippines

Paulo Campos, Raya Buensuceso
Inquirer.net
30 January 2025

The Philippines has emerged as Southeast Asia’s most exciting startup ecosystem in recent years, poised to become the next regional tech center after Singapore and Indonesia. At Kaya Founders, our investment strategy particularly centers on three key trends that encapsulate why the Philippines is an exciting market today: frictionless business enabled by artificial intelligence (AI)-powered platforms, the rise of tech-enabled consumer ventures, and the transformative power of embedded credit.

Frictionless business: AI-powered platforms reshaping industries. The adoption of AI-driven solutions is rapidly transforming the country’s largest industries. A generational shift in business leadership has ushered in digitally native leaders who are embracing AI to streamline processes in areas such as customer service, content creation, and supply chain management.

This trend positions the Philippines as fertile ground for AI-powered business-to-business platforms. Startups that leverage AI to drive efficiency and productivity, particularly in sectors like health care, commerce, and financial services, are poised to enhance traditional operations and unlock growth.

Two of Kaya Founders’ best-known portfolio companies are Etaily and Local, which both enable businesses, retailers, and merchants to more efficiently and effectively sell their products online across the different channels and marketplaces in the Philippines and across Southeast Asia.

Tech-enabled consumer ventures: Harnessing an emerging middle class. With household consumption representing 71.6 percent of GDP—significantly higher than the regional average of 55 to 60 percent—the Philippines is undeniably a consumer-driven economy. Yet, unlocking this potential requires a nuanced understanding of a diverse and evolving consumer base.

Two segments dominate this rising middle class: “power users” who prioritize convenience and are willing to spend on experiences and “value-focused users” who are driven by discounts. These dynamics have fueled the rise of digital shopping models like live and social commerce, where startups are reshaping how consumers discover, engage with, and purchase products.

Despite challenges in payment infrastructure and logistics, the opportunity to deliver affordable yet aspirational products through seamless digital platforms is immense, particularly for younger, digital-savvy consumers.

Embedded credit: Closing the financing gap. Within the realm of fintech, perhaps the most compelling opportunity lies in embedded credit. According to the recently published Google, Bain, and Temasek’s e-Conomy report, lending drove 22 percent of the revenue of digital financial services across Southeast Asia last year, growing annually at a rate of 35 percent. Yet the credit gap in the Philippines remains vast—estimated at $221 billion for micro, small, and medium enterprises, the largest in the world as a share of GDP by some measures and affecting three-fourths of Filipino adults without formal credit access.

Embedded finance models are addressing these gaps by integrating lending into everyday platforms, making access to credit more convenient and contextually relevant. Startups like OneLot and Netbank are at the forefront of this transformation. OneLot has enhanced dealer onboarding and introduced flexible loan products, while Netbank’s Banking-as-a-Service solutions integrate digital banking into supply chains and salary payments.

A maturing ecosystem. Venture capital funding in Southeast Asia has surged, with $72 billion deployed in the past five years—three times the volume of the preceding half decade. Yet, what makes this moment particularly exciting is the shift toward capital efficiency and profitability.

The Philippines, in particular, has emerged as a beacon of opportunity, bucking global trends of declining late-stage funding. Institutional investors and development finance institutions such as Asian Development Bank, International Finance Corp., Texas Pacific Group, Kohlberg Kravis Roberts, and a range of others have made late-stage investments in the country. Meanwhile, a growing pool of credible, experienced founders is fueling momentum in the early-stage segment.

The fundamentals of the Philippine market resemble the early growth trajectory of Indonesia’s and Singapore’s tech ecosystems. As digital adoption expands from early adopters to widespread use, the impact on the broader economy will only deepen.

Unlocking the Philippines’ potential. The Philippines’ tech ecosystem is at an unprecedented inflection point, but unlocking its full potential will require a concerted effort across stakeholders. Entrepreneurs, investors, and other business leaders must work together to address infrastructure challenges, build talent pipelines, and scale solutions that meet the needs of businesses and consumers alike.

At Kaya, we remain committed to identifying and supporting the next wave of Philippine startups poised to transform industries and revolutionize the economy and country in the future.

Philippines Emerges as Global Leader in Clean Energy

Shocking Leap! Philippines Emerges as Global Leader in Clean Energy

Sarah Thompson
Jomfruland.net
05 January 2024

The Philippines has made an extraordinary leap in the global renewable energy market, soaring from the 20th to the 2nd most attractive country for clean energy investments within just three years, as highlighted by the 2024 Climatescope Report by BloombergNEF.

Renewable Energy in Focus

In a significant move, the Philippines has overtaken major players like China, solidifying its position as a key player in the sustainable energy arena. This progress is aligned with the country’s ambitious goal to increase its renewable energy share from 22% to 35% by 2030. The nation is rapidly becoming a beacon for investors due to its rich renewable resources and favorable investment climate.

Government’s Role in Driving Growth

The Philippine government is actively nurturing this growth through recent policy changes that now allow 100% foreign equity in renewable energy projects. State officials believe these reforms will open the floodgates for international funds, positioning the Philippines as a prime destination for sustainable energy ventures.

Challenges and Opportunities

Despite the positive momentum, industry experts like Blueleaf Energy’s Christopher Chua express skepticism about outpacing countries like India due to its sheer market size. However, the country’s openness and transparent market environment continue to draw foreign investments, giving it a competitive edge over regions with more restrictive energy policies.

Path Forward

To further enhance the sector, the Department of Energy is addressing challenges like grid integration and financing hurdles for smaller companies. Initiatives to modernize the grid and provide better financing options are crucial for sustaining the momentum and ensuring that all stakeholders, including small developers, can contribute to and benefit from the renewable energy transition.

The Philippines: A Rising Star in Renewable Energy Investments

Unveiling New Opportunities in Renewable Energy

The Philippines’ remarkable ascension in the renewable energy sector has not only attracted global attention but also unveiled a series of opportunities for investors and researchers. The country has demonstrated how strategic governance and policy reforms can fast-track a nation’s transition to clean energy.

Understanding the Driving Forces

Major developments propelling this growth include comprehensive policy advancements. For instance, the recent introduction of 100% foreign equity in renewable energy projects represents a seismic shift, fundamentally altering the investment landscape. By lowering bureaucratic hurdles, these reforms increase the Philippines’ allure on the global stage, encouraging both small and large-scale foreign investors to consider the archipelago as a viable market for sustainable solutions.

Trends and Predictions in Philippine Renewable Energy

Experts anticipate a continued upward trajectory for renewable energy investments in the Philippines. With a target of achieving a 35% renewable energy share by 2030, the nation is on a steadfast path. Market analysts predict that these ambitious goals, combined with favorable policies, will stimulate further innovation and technology integration in the sector.

Addressing Limitations and Infrastructure Needs

Even with these promising developments, certain challenges remain critical. For instance, the Philippine energy grid needs significant modernization to support the influx of renewable sources. Infrastructure improvements are essential to cope with new energy demands and maintain efficiency. Furthermore, financial strategies tailored to aid smaller energy developers are crucial. By ensuring accessible financing, the government can foster a diverse and competitive market atmosphere that values both sustainability and inclusiveness.

Market Analysis and Competitive Edge

The Philippines has outperformed nations with traditionally more restrictive energy policies due to its open and transparent renewable market environment. Compared to countries like China, where larger governmental policies may restrict foreign interactions, the Philippines offers a more welcoming approach—which experts agree gives it an edge in the global race towards renewable dominance.

Future Innovations and Technological Integration

The future of renewable energy in the Philippines looks promising with innovations such as advanced grid technologies and energy storage solutions expected to enter the market. These technologies will not only enhance the efficiency of current renewable installations but also ensure grid stability as more intermittent renewable sources like solar and wind are integrated.

Strategic Partnerships and Sustainable Growth

Global firms are eyeing the Philippines as a potential partner in the quest for cleaner energy solutions. The nation’s strategic location, coupled with its rich natural resources, positions it as a central player in developing sustainable energy initiatives. These partnerships are expected to drive further advancements in energy technology and resource management, fulfilling both environmental and economic goals.

As the Philippines continues to innovate and expand its renewable energy sector, it is crucial for stakeholders to stay informed about the evolving landscape, aiming for strategic investments and partnerships that will ensure the nation’s sustainability and economic vitality. For more information on the nation’s energy policies and opportunities, visit the Department of Energy.

PH manufacturing expands in 2024

PH closes 2024 with stronger manufacturing growth

Jon Viktor D. Cabuenas
GMA Integrated News 

02 January 2024

The Philippine manufacturing sector continued to expand in December to close the year with a rate last seen in April 2022 on the back of higher output and new orders, results of the latest survey conducted by S&P Global released on Thursday showed.

The headline S&P Global Philippines Manufacturing PMI stood at 54.3 in December, higher than the 53.8 in November. This matches the same reading recorded in April 2022, and the joint-strongest since November 2017.

“The Filipino manufacturing sector ended 2024 on a positive note, with further improvements in demand resulting in sharp and significant increases in new orders and output,” S&P Global Market Intelligence economist Maryam Baluch said.

Output and new order growth were the strongest in 32 months, supported by anecdotal evidence of robust underlying demand trends, product diversification, and new client acquisitions. There was also a renewed increase in demand from international markets as new export orders increased for the first time in five months.

“Firms also expanded their purchasing activity to meet production requirements. December highlighted a moderation in inflationary pressures, marking a shift from the spike observed in November. In fact, cost burdens and output charges rose at historically muted rates,” Baluch said.

While higher costs for materials and suppliers were mostly passed onto clients, the survey results showed that there was a renewed moderation in inflationary pressures after the peaks seen in November as cost burdens rose at a rate below historical average.

“While production efficiency allowed manufacturers to stay on top of tasks at hand, it also led to a slight drop in employment, thereby ending a three-month streak of job creation. However, this could be a temporary blip, especially if demand remains resilient as anticipated throughout 2025,” Baluch said.

Respondents reported a minor decrease to their hiring, as firms were able to keep on top of their workloads even with more new orders during the period with the backlog depletion rate the most pronounced in 13 months.

Official government data on manufacturing under the Monthly Integrated Survey of Selected Industries (MISSI) is scheduled to be released on February 7, 2025.—AOL, GMA Integrated News

Marcos wants Philippines to become hub for smart manufacturing

Marcos wants Philippines to become hub for smart manufacturing

Louella Desiderio, Alexis Romero 
The Philippine Star
May 22, 2024

MANILA, Philippines — The Philippines is counting on its strengths and engagements to transform its economy into a regional hub for smart and sustainable manufacturing and services, President Marcos said, as he urged investors to unlock the growth opportunities offered by the country’s “thriving” economy.

In his keynote remarks during the Indo-Pacific Business Forum in Taguig City, Marcos said the Philippines occupies a “strategic position” in the region and is leveraging its geopolitical location, economic engagements and participation in regional agreements.

He noted that the Indo-Pacific region accounts for over a third of global economic activity, a condition that he said presents “immense opportunities” for the Philippines.

The President described the Philippines’ economic achievements as “outstanding,” citing the Philippines’ 5.5 percent GDP growth last year, which surpassed major economies in Asia and the four consecutive months of expansion of its foreign direct investments (FDIs).

“Through these economic strengths, we aspire to transform the Philippine economy into a regional hub for smart and sustainable manufacturing and (services),” he said.

The Chief Executive reiterated the importance of forging partnerships, saying Indo-Pacific Economic Forum partner-countries play a key role in the Philippines’ robust economic growth and contribute substantially to its FDI and other approved investments.

Indo-Pacific investors have the potential to contribute significantly to the expansion of micro, small and medium enterprises, which contribute the bulk of the employment in the country, according to Marcos.

Luzon Economic Corridor

Marcos went on to enumerate measures and collaborations that are seen to make the Philippines a more attractive investment destination.

He mentioned the Luzon Economic Corridor, a project launched during last month’s historic trilateral summit in Washington.

He said the government has earmarked key projects to spur growth in the corridor and to create strategic connections between Subic, Clark and the Calabarzon region, which he called “a prime location for export-manufacturing firms.”

“These initiatives will enhance freight transport services, mobility and access to key economic zones, ensuring business continuity and positioning the Philippines as a regional hub for agribusiness and logistics in the Asia-Pacific,” he added.

The President likewise highlighted the legislation that allows 100 percent foreign ownership of renewable energy sources; efforts to develop priority industries like electronics, semiconductors and critical minerals and the government-led strategy to enhance digital infrastructure, connectivity and business facilitation.

“The Philippines also offers a strategic location with a robust experience and record in the IT-BPM (information technology-business process management) competencies and a strong direction towards upgrading business process outsourcing into knowledge process outsourcing such as market intelligence, business analytics, legal services and AI (artificial intelligence), amongst others,” he said.

“Furthermore, the Philippines can serve as a platform for companies to access the more than 600-million-strong Southeast Asian consumer market. Our proximity to these growing economies can allow them to enter other supply chains and be part of inter-country economic systems, creating more opportunities for collaboration and for partnership,” he added.

Marcos expressed optimism that the Build Better More infrastructure program, which encompasses 185 priority projects worth P9.5 trillion, will transform the Philippines’ infrastructure landscape and contribute to its goal to be the next logistics hub in Asia.

“But achieving this requires a whole-of-nation approach, particularly private investments. Therefore, we invite foreign investors to participate in this endeavor through public-private partnerships, engineering, procurement and construction contracts, and for feasibility studies, as well,” he said.

The President also talked about laws and policies aimed at luring more investors, including the Public-Private Partnership Code, which he said has accelerated the delivery of critical projects; the Maharlika Investment Fund, the sovereign wealth fund that seeks to support critical infrastructure projects; the Corporate Recovery and Tax Incentives for Enterprises or CREATE Act; the Ease of Doing Business Act and the executive order on green lanes for strategic investments.

“Upcoming in the pipeline is the CREATE More Act, which represents a significant leap forward as we expand and refine the incentives introduced under the original CREATE Act. Through this, we are making the Philippines even more attractive for investments, both local and foreign,” he said. — Sheila Crisostomo

PH manufacturing posted high growth

PH manufacturing growth hit five-month high in April

By JON VIKTOR D. CABUENAS, 
GMA Integrated News
May 2, 2024 

The Philippine manufacturing sector posted its biggest growth in five months in April on the back of higher output and an increase in new orders, results of the latest survey conducted by S&P Global released on Thursday showed.

The headline S&P Global Philippines Manufacturing PMI stood at 52.2 in April, up from 50.9 in March. A reading above 50.0 indicates an expansion, while levels below the threshold indicate a contraction.

"Building on growth seen in the first quarter of the year, the Filipino manufacturing sector showcased further gains in April," S&P Global Market Intelligence economist Maryam Baluch said in an accompanying statement.

"A quicker rate of expansion was observed for new orders, which in turn triggered a renewed and solid rise in production. Additionally, business from overseas markets also expanded at a stronger rate," she added.

New orders posted the biggest growth since November 2022, while new export orders expanded for the third straight month and at the fastest pace in five months. New work also posted the biggest gain in four months.

The same report found that purchasing efforts at manufacturers saw the quickest upturn in nine months, due to "favourable" demand conditions and higher production requirements, with pre-production stocks accumulated the fastest in 12 months and post-production in 17 months.

Employment continued to grow, but eased slightly from the expansion in March as some firms struggled to complete work in hand, bringing the backlog depletion at the weakest level since August 2023.

Charges for the month were broadly unchanged from March, with input price inflation modest overall.

"Looking ahead, sentiment across the Philippines manufacturing sector was largely positive with nearly a quarter of surveyed businesses predicting growth in production. That said, the degree of confidence slipped to a four-year low," S&P Global said.

The same report found that purchasing efforts at manufacturers saw the quickest upturn in nine months, due to "favourable" demand conditions and higher production requirements, with pre-production stocks accumulated the fastest in 12 months and post-production in 17 months.

Employment continued to grow, but eased slightly from the expansion in March as some firms struggled to complete work in hand, bringing the backlog depletion at the weakest level since August 2023.

Charges for the month were broadly unchanged from March, with input price inflation modest overall.

"Looking ahead, sentiment across the Philippines manufacturing sector was largely positive with nearly a quarter of surveyed businesses predicting growth in production. That said, the degree of confidence slipped to a four-year low," S&P Global said.

PHL on radar for Taiwan startups

PHL on radar for Taiwan startups

BusinessWorld
April 29, 2024 

THE Philippines and other Southeast Asian markets are being targeted by startups from Taiwan for expansion, according to the head of Taiwan’s startup branding organization.

Amanda Liu, founder and managing director of Startup Island TAIWAN, said Taiwan startups are now looking for other markets apart from the US and China.

“There is a need to have a second market… And I think Southeast Asia is likely the most (viable) option for Taiwan startups,” Ms. Liu told reporters last week.

Asked what makes the Philippines attractive, she said: “I think one of the important points is that the Philippines has a very good English base.”

“So when they bring or introduce any applications to the Philippines, it’s very easy to implement these applications because there are no language barriers. With no language barriers, it will be easy to communicate with Filipinos,” she added.

Last week, Startup Island organized the Taiwan-Philippines Tech Summit, during which it brought 15 Taiwan startups to the Philippines.

“This is our first time to explore more cooperation here. We invited many mature Taiwanese startups to come here, like FUNNOW Group, and I think they are mature enough to develop their market and have a chance to merge or explore deeper cooperation with Philippine startups,” Ms. Liu said.

She said Taiwan startups are interested in consumer experience and digital transformation ventures, noting that digital transformation will play a huge part in any market, be it in agriculture or other industries.

“I think almost all industries need to do digital transformation, and although Taiwan has a technological advantage, they need to find partners to implement this kind of solution,” she said.

“One of the hot topics is artificial intelligence (AI). But we know that AI is just an application; AI needs to be implemented with others to make something better, smoother, or more efficient,” she added.

Asked for her views on growing the startup ecosystem in the Philippines, she said that partnering with other countries and more government support will play a big part.

“I think the Philippines is booming now; it is at the starting point. And that is why we are here; since you are at the starting point, you can leverage other countries’ ability to empower your startup ecosystem,” she said.

“And based on our experience in Taiwan, startups always need funding and educational support. There is a need to encourage people to do startups and emphasize an entrepreneur mindset,” she added. — Justine Irish D. Tabile

PH- Australia improved trade relations

PH makes second mango shipment to Australia

Story by Janine Alexis Miguel
Manila Times
08 April 2024

THE Philippines has sent a second shipment of mangoes to Australia, which will help increase the country's bilateral trade with that country, according to the Department of Trade and Industry (DTI).

In a statement over the weekend, Trade Secretary Alfredo Pascual said the latest mango shipment will help increase the country's bilateral trade with Australia, which reached $4.1 billion in 2023, or 20 percent higher from the previous year's $3.4 billion.

"The continued growth in our bilateral trade underscores the vast potential for our products in the Australian market. The successful export of our mangoes exemplifies the significant strides we're making in facilitating agricultural trade, which is pivotal for our economic agenda," he said.

Moreover, Pascual highlighted the significance of key policy instruments such as the Second Protocol of the Asean-Australia-New Zealand Free Trade Agreement (AANZFTA), ratified by the Philippines on Feb. 14, 2024, in further optimizing the trade and investment relationship between the two countries.

Asean is the Association of Southeast Asian Nations.

"We would like to provide enhanced market access for our stakeholders/exporters to as many countries as possible, even the non-traditional partners. For this year, we are working on an FTA with EU (European Union), UAE (United Arab Emirates), and Canada under the Asean-Canada FTA negotiation," the trade chief said.

The logistics firm FastboxPH, which facilitated the mango delivery, has noted a surge in demand for the tropical fruit in Australia, attributing it to the quality and exceptional taste of Philippine mangoes.

"The overwhelmingly positive response to our initial shipment last year has paved the way for a triumphant return of Philippine mangoes to Australian tables this April," FastboxPH Managing Director Miguel Ripol said.

FastboxPH is positioned to expand its reach across the country and establish partnerships with more retailers and distributors nationwide to ensure wider availability of Philippine mangoes to Australian consumers.

Philippine Ambassador to Australia Ma. Hellen de la Vega emphasized the importance of the second mango shipment under the strategic partnership forged in September 2023 between the two countries.

"The Philippines and Australia share a strong commitment to fostering trade ties, and the arrival of our mangoes signifies a delightful milestone in our partnership, especially as we celebrate Filipino Food Month in April," she said.

The Philippine Trade and Investment Center in Sydney (PTIC-Sydney), an agency under the DTI, spearheads the effort to broaden the market for high-quality Philippine agricultural goods, specifically mangoes. Through strategic measures like trade expos and consultations, PTIC-Sydney is actively striving to boost the global presence of Philippine products.

"With the DTI spearheading efforts and the unwavering dedication of all involved parties, the future of Philippine mango exports to Australia looks brighter than ever, promising mutual prosperity for both nations," the DTI said.