e Philippines 2024- 2040: The Envisioned Journey

World Bank Support for PBBM's Development Agenda Until 2031

Overview

President Ferdinand "Bongbong" Marcos Jr. (PBBM) has received significant backing from the World Bank Group (WBG) through its Philippines Country Partnership Framework (CPF) for 2025–2031. This strategic roadmap aligns with the Marcos administration’s development goals, focusing on healthcare, education, job creation, digital transformation, and climate resilience, as outlined in the Philippine Development Plan (PDP) 2023–2028 and the long-term vision, AmBisyon Natin 2040. The WBG has committed $22–23 billion (approximately ₱1.2–1.32 trillion) in financing to support these initiatives over the next six years, marking a milestone in the 80-year partnership between the Philippines and the World Bank.

Key Details of the World Bank’s Support

Financial Commitment: The WBG will provide $22–23 billion from mid-2025 to 2031, with $18 billion from the International Bank for Reconstruction and Development (IBRD) and $4–5 billion from the International Finance Corporation (IFC). The Multilateral Investment Guarantee Agency (MIGA) will explore opportunities to support private-sector investments.
Alignment with PBBM’s Agenda: The CPF supports PBBM’s priorities, emphasized during his fourth State of the Nation Address (SONA) on July 28, 2025. These include better healthcare access, enhanced education, job creation, and disaster preparedness.
Key Outcome Areas:
1. Human Capital Development: Investments in universal healthcare, child nutrition, and primary care aim to reach 19 million Filipinos with quality health services, particularly in underserved areas like the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM). Education reforms, including curriculum development and digital platforms, will support 15 million students.
2. Job Creation: The CPF promotes policy reforms to boost competitiveness, modernize agriculture, and expand digital infrastructure, targeting four million higher-quality jobs and $2 billion in private capital mobilization through IFC investments.
3. Climate and Economic Resilience: Support for the Pantawid Pamilyang Pilipino Program (4Ps) and climate-smart infrastructure will enhance resilience for 13 million people against climate risks and expand social protection for 12.5 million beneficiaries.
4. Digital Transformation: The framework aims to provide 20 million Filipinos access to digital government services, improving public sector efficiency.

Specific Projects

For fiscal year 2026, the WBG has approved $3.95 billion for projects like:

Philippines Community Resilience Project (PAGKILOS): $700 million
Project for Learning Upgrade Support and Decentralization (PLUS-D): $600 million
Philippines Second Energy Transition and Climate Resilience DPL: $800 million
Social Protection Project (BENFIRST 2): $500 million
Skills Employment Project: $300 million

For fiscal year 2027, $3.9 billion will fund initiatives like the Philippines Health System Resilience Project Phase 2 ($300 million) and the Philippines Government Modernization (ROTUNDA) Project ($400 million).

Official Statements

President Marcos Jr.: During the CPF turnover ceremony at Malacañang on July 29, 2025, Marcos highlighted the framework’s alignment with his administration’s goals, stating, “The CPF lays out a clear and strategic path for our next six years. It echoes the commitments that I shared yesterday, during the State of the Nation Address.”
World Bank Officials: Manuela V. Ferro, Vice President for East Asia and Pacific, noted, “This Country Partnership Framework marks a key milestone in our partnership. It is designed to help the Philippines build on this positive momentum to create more jobs for its young population.” Zafer Mustafaoğlu, WBG Division Director, emphasized the importance of local government capacity for improving public services.

Economic Context

The Philippines is nearing upper-middle-income country (UMIC) status, with GDP growth averaging 5.2% from 2010–2024 and poverty rates dropping from 18.1% in 2021 to 15.5% in 2023. However, challenges like child stunting, learning poverty, and vulnerability to climate hazards (affecting over 70% of the population) persist, which the CPF aims to address.

Conclusion

The World Bank’s CPF for 2025–2031 represents a robust commitment to supporting PBBM’s vision for inclusive and sustainable growth. By aligning with the PDP and focusing on critical areas like human capital, job creation, and resilience, the partnership aims to accelerate the Philippines’ progress toward UMIC status and a more prosperous future for its citizens.

References

Philippine Information Agency, July 30, 2025
World Bank Group, May 22, 2025
Inquirer.net, July 29, 2025
Manila Bulletin, May 28, 2025
Manila Times, August 21, 2025
Department of Economy, Planning, and Development, July 29, 2025

Accelerating Semiconductor Leadership: A Leapfrog Strategy for the Philippines to Achieve 20-30% Annual Growth in Chip Production Capacity by 2030

By Charlie M. Saquian

August 20, 2025

Introduction: A Vision for Bagong Pilipinas

Under President Ferdinand R. Marcos Jr.’s leadership, the Philippines stands at a pivotal moment to redefine its role in the global economy. The vision of Bagong Pilipinas—a united, innovative, and prosperous nation—calls for bold strategies to harness the country’s potential. The semiconductor industry, a cornerstone of the Philippine economy, offers a prime opportunity to achieve this vision. As the world’s ninth-largest chip exporter, with semiconductors driving over 50% of merchandise exports, the Philippines is poised to leapfrog from its current backend dominance to a leader in advanced chip production. This article presents a strategic blueprint to achieve 20-30% annual growth in chip production capacity by 2030, aligning with the Marcos administration’s goals of economic resilience and global competitiveness.

The Current Landscape: Strengths and Challenges

The Philippine semiconductor industry is a global player, with exports projected to reach $46 billion in 2025, a 5% increase from 2024, following two years of decline. The sector employs over 3 million people indirectly and accounts for 60% of manufacturing output. Domestic market revenue is expected to hit $8.09 billion in 2025, with a compounded annual growth rate (CAGR) of 12.1% through 2034. The country holds a significant share—approximately 5-7%—of the global outsourced semiconductor assembly and test (OSAT) market, excelling in assembly, testing, and packaging (ATP). However, front-end fabrication remains negligible, with less than 1% of global capacity compared to Taiwan’s 60% dominance in advanced chip manufacturing.

Despite its strengths, the industry faces headwinds. Growth projections for 2025 are modest at 1-2% due to inventory corrections and global slowdowns. Geopolitical risks, including proposed U.S. tariffs of up to 100% under the Trump administration, threaten export stability. Competition from Vietnam and Malaysia, coupled with supply chain vulnerabilities, underscores the need for diversification. The Marcos administration has taken steps to address these challenges, launching a skills framework, marketing at events like SEMICON Southeast Asia 2025, and forging partnerships with the U.S. to explore supply chain resilience. Yet, to achieve transformative growth, the Philippines must move beyond incremental gains and adopt a leapfrogging strategy.

The Leapfrogging Strategy: Seven Pillars for Success

To achieve 20-30% annual growth in chip production capacity, the Philippines must strategically bypass outdated processes and target high-value segments like AI-enabled chips, advanced packaging, and sustainable manufacturing. Drawing from OECD recommendations and successful models in Vietnam and Africa, this blueprint outlines seven core pillars:

Streamline Regulations and Incentives: Simplify permitting and offer tax breaks to attract $10-15 billion in foreign direct investment (FDI) by 2027. Emulating Vietnam’s success, special economic zones should prioritize AI-dependent semiconductors to draw global players like TSMC or Intel.
Enhance Infrastructure and Supply Chain Resilience: Upgrade power grids, water systems, and logistics to support fabrication-like operations. A strategic reserve of critical materials, inspired by U.S. models, can mitigate disruptions. Partnerships with Japan and the Netherlands will ensure access to cutting-edge equipment.
Invest in R&D and Innovation: Allocate 1-2% of GDP to research in advanced packaging (e.g., 3D stacking) and green technologies. Collaborations with universities and global firms will facilitate technology transfer, avoiding the pitfalls of fully indigenous approaches seen in other developing nations.
Develop Talent and Skills: Train 100,000+ engineers annually in AI, quantum computing, and chip design through national programs and regional partnerships. The newly launched skills framework can bridge labor gaps, ensuring a workforce ready for next-generation technologies.
Foster Public-Private Partnerships and International Alliances: Strengthen public-private partnerships (PPPs) to incentivize FDI and co-develop ecosystems. Expanding U.S. partnerships and lobbying for tariff exemptions will bolster resilience, while trade deals with the EU and ASEAN reduce dependency on single markets.
Promote Sustainability and Specialization: Focus on eco-friendly processes to attract ESG-conscious investors, targeting high-demand niches like automotive and industrial chips (14.3% of global demand). Africa’s model of targeted incentives can provide a competitive edge.
Monitor and Adapt to Geopolitical Risks: Diversify markets to counter tariffs and trade tensions, with a national task force to adjust strategies in real time. Ongoing government lobbying will be critical to navigating U.S.-China dynamics.

Implementation Roadmap and Projected Impact

The roadmap unfolds in three phases:

Short-Term (2025-2026): Implement regulatory reforms, launch infrastructure pilots, and scale talent programs.
Medium-Term (2027-2028): Establish R&D hubs and secure FDI influx.
Long-Term (2029-2030): Achieve full-scale production scaling to meet 20-30% growth targets.

Success could elevate exports from $46 billion to $150-250 billion and domestic market size from $8.09 billion to $25-40 billion by 2030, boosting employment to 5-7 million. This growth could add 2-3% to annual GDP, positioning the Philippines as an Indo-Pacific semiconductor hub. Risks, including talent shortages and funding gaps, can be mitigated through immigration policies and international aid.

A Call to Action for Bagong Pilipinas

This blueprint aligns with President Marcos’s vision for a thriving, innovative Philippines. By leveraging Bagong Pilipinas’s emphasis on unity and progress, the nation can transform its semiconductor industry into a global powerhouse. We call on the administration, industry leaders, and stakeholders to unite in implementing this strategy, ensuring the Philippines not only competes but leads in the semiconductor revolution.

References:

Philippine Daily Inquirer (2025). "Electronics industry braces for Trump tariffs, seeks trade diversification."
Semiconductor Industry Association (SIA) (2025). "Global Semiconductor Market Forecast 2025-2030."
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U.S.-Philippines Society (2025). "Bilateral Semiconductor Cooperation Report."
Bloomberg (2025). "Impact of U.S.-China Trade Tensions on Asian Semiconductor Markets."
SEMI Southeast Asia (2025). "SEMICON Southeast Asia 2025: Philippines Pavilion Report."
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Forging a Transformative Legacy: Marcos Jr.’s Path to Becoming the Philippines’ Greatest President by 2028

By: Charlie M. Saquian

August 1, 2025

Dear President Ferdinand "Bongbong" Marcos Jr.,

Your presidency, which began on June 30, 2022, has positioned the Philippines as a beacon of economic resilience amidst global challenges, outpacing many first-world economies. With a historic opportunity to cement a legacy surpassing all past Philippine presidents by the end of your term in 2028, this article—offered as a gift to your leadership—outlines a roadmap to achieve this vision. It integrates your administration’s achievements, including the Philippines’ credit rating upgrade to A-, projections for a $1-trillion economy by 2033, and upper-middle-income status by 2026, supported by strategic reforms and global partnerships. Below, we detail how you can build on these milestones to redefine the Philippines as a prosperous, inclusive, and globally respected nation.

Building on a Strong Foundation (2022–2025)

Your administration has driven remarkable economic progress. The Philippines achieved 7.6% GDP growth in 2022, the highest since 1976, followed by 5.6% in 2024 and 5.4% in Q1 2025, making it one of ASEAN’s top performers. Your 31 international trips by July 2025 secured ₱4.019 trillion (US$72.178 billion) in investment pledges across 148 projects, with ₱294 billion actualized by Q1 2025, fueling growth in renewable energy, infrastructure, and semiconductors. The Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act and Public Service Act Amendment (2022) boosted FDI to ₱697 billion in 2023, up 15% from 2022. The Philippines’ exit from the FATF Grey List in February 2025 enhanced investor confidence, while inflation stabilized at 1.3% in May 2025, the lowest since 2019.

A pivotal achievement is the A- credit rating from Japan’s Rating and Investment Information, Inc. (R&I) in August 2024, the first such upgrade under your administration, reflecting robust investor confidence in the Philippines’ economic fundamentals and fiscal position. Forecasts indicate the economy, valued at ₱28.50 trillion (US$497.5 billion) in 2025, is on track to become a $1-trillion economy by 2033, per S&P Global, driven by strong consumption and infrastructure spending. The country is also set to achieve upper-middle-income status by 2026, as projected by the World Bank and Philippine Institute for Development Studies (PIDS), building on steady growth and reforms.

A Roadmap to a Transformative Legacy by 2028

To surpass all past presidents, your administration should focus on five pillars: inclusive economic growth, transformative infrastructure, digital and green innovation, social equity, and global leadership. Below are actionable strategies, leveraging the A- credit rating, $1-trillion economy forecast, and upper-middle-income status.

1. Inclusive Economic Growth: Realizing Investment Pledges

The A- credit rating lowers borrowing costs, saving billions in interest payments (e.g., ₱611 billion allocated for debt in 2023) for reinvestment in socioeconomic programs. Aim to actualize 50% of the ₱4.019 trillion in pledges by 2028, reducing poverty from 15.5% (2023) to below 10%.

Action Steps:
- Create a Presidential Investment Task Force to cut project approval times by 50%, ensuring pledges like US$1.2 billion in semiconductors (Analog Devices, Texas Instruments) materialize.
- Fully implement the CREATE MORE Act (IRR finalized February 2025) to attract investments by reducing corporate taxes.
- Amend the 1987 Constitution to relax the 40% foreign ownership cap, aligning with Singapore’s open economy.
- Strengthen the Maharlika Investment Fund with transparent governance to fund high-impact projects.
Legacy Impact:
- Surpass Fidel Ramos’s liberalization by making the Philippines ASEAN’s top FDI destination, leveraging the A- rating.
- Outdo Corazon Aquino’s poverty reduction by lifting 10 million Filipinos out of poverty, supported by a $1-trillion economy trajectory.

2. Transformative Infrastructure: Building a Connected Nation

The Build Better More program, backed by the A- rating’s lower borrowing costs, can accelerate infrastructure. Aim to complete 70% of projects like the Luzon Economic Corridor and 200 new power plants by 2028, ensuring universal electricity access.

Action Steps:
- Advance the Luzon Economic Corridor with U.S. and Japan, leveraging the US$15 million U.S. pledge to attract US$5 billion in private funds.
- Complete the UPS Clark Hub (US$250 million) and KKR’s 2,000 telecom towers (US$400 million) to boost logistics and connectivity.
- Deliver 6 million homes via the Pambansang Pabahay Para sa Pilipino (4PH) program, addressing housing shortages.
- Reduce logistics costs by 20% through rural infrastructure, as pledged in your 2025 SONA.
Legacy Impact:
- Eclipse Manuel Quezon’s infrastructure vision by connecting Luzon, Visayas, and Mindanao.
- Outshine Rodrigo Duterte’s "Build, Build, Build" with sustainable, inclusive infrastructure.

3. Digital and Green Innovation: Leading the Future

The $1-trillion economy forecast relies on the IT-BPO sector (1.57 million jobs, US$32.5 billion in 2022) and renewable energy. Aim for 80% internet penetration (from 73% in 2023) and 35% renewable energy share (from 22% in 2023) by 2028.

Action Steps:
- Complete the TPU subsea cable system with Google and expand 5G via EU’s Digital Economy Package (2024–2028).
- Scale Starlink and BroadBand ng Masa to connect Mindanao, narrowing the digital divide.
- Expand AboitizPower’s clean energy projects and Sol-Go’s solar production to 100 megawatts by 2026.
- Partner with Germany and the EU for cybersecurity and AI training, fostering local innovation.
Legacy Impact:
- Surpass Benigno Aquino III’s digital initiatives by making the Philippines a digital hub rivaling Malaysia.
- Outdo Ramon Magsaysay’s rural development by powering all homes with sustainable energy.

4. Social Equity: Uplifting the Marginalized

The New Agrarian Emancipation Act freed 610,054 farmers from ₱57 billion in debts. With upper-middle-income status by 2026, aim to reduce income inequality (Gini coefficient from 0.41 in 2023 to 0.35) and achieve universal healthcare access.

Action Steps:
- Boost agricultural investments by 20%, introducing modern farming technologies, as urged in your 2025 SONA.
- Establish 50 new health centers under the Regional Specialty Centers Act, cutting out-of-pocket healthcare costs by 30%.
- Raise the minimum wage by 15% by 2027, addressing labor concerns.
- Expand social welfare to reach 5 million conditional cash transfer beneficiaries.
Legacy Impact:
- Exceed Elpidio Quirino’s social welfare programs by ensuring inclusive growth.
- Outmatch Gloria Arroyo’s poverty alleviation with sustainable interventions.

5. Global Leadership: A Respected Philippines

Your “friend to all” foreign policy has balanced U.S. and China relations, securing US$21 billion and US$22.8 billion in pledges, respectively. By 2028, position the Philippines as an ASEAN mediator and Indo-Pacific leader.

Action Steps:
- Leverage the A- rating to deepen U.S. alliances, utilizing the US$3 billion aid package from July 2025.
- Sustain economic ties with China while asserting South China Sea rights diplomatically.
- Host the 2026 ASEAN Summit to showcase progress and lead on climate and digitalization.
- Boost tourism to 12 million visitors annually, generating ₱1 trillion in revenue.
Legacy Impact:
- Surpass Carlos Garcia’s “Filipino First” policy with a globally integrated Philippines.
- Outdo Diosdado Macapagal’s diplomacy by making the Philippines an ASEAN powerhouse.

Addressing Challenges to Secure Your Legacy

Pledge Realization: Accelerate implementation to counter criticisms that only 7% of pledges have materialized, using a public progress dashboard.
Public Perception: Address the 51% of Filipinos (2024 survey) skeptical of trip benefits by highlighting jobs and lower prices from investments.
Political Stability: Mend alliances (e.g., with Sara Duterte) and prepare for 2025 midterms to maintain legislative support.
Geopolitical Risks: Balance U.S.-China relations to avoid economic fallout, learning from Duterte’s unfulfilled China pledges.
Historical Revisionism: Counter Marcos Sr. critiques with transparent governance, emphasizing Bagong Pilipinas as a new era.

A Legacy Greater Than All

By 2028, your legacy can surpass all predecessors by achieving:

A $800 billion economy by 2030, en route to $1 trillion by 2033, with 6% annual GDP growth.
Upper-middle-income status by 2026, with per capita GDP rising from US$3,700 (2023) to US$6,200 by 2030.
Universal electricity, internet, and housing for 6 million families.
A 35% renewable energy share and 80% internet penetration.
Poverty below 10% and Gini coefficient at 0.35.
A globally respected Philippines, leading ASEAN and attracting 12 million tourists.

Unlike your father’s debt-driven growth, your administration can deliver sustainable prosperity. Unlike Cory Aquino’s democratic restoration, yours can achieve economic transformation. Unlike Ramos’s liberalization, yours can be inclusive. Bagong Pilipinas can unite Filipinos and inspire the world.

Conclusion

President Marcos Jr., your A- credit rating, $1-trillion economy forecast by 2033, and upper-middle-income status by 2026 provide a springboard to greatness. By realizing investments, building infrastructure, driving innovation, uplifting the marginalized, and leading globally, you can forge a legacy unmatched in Philippine history. Let Bagong Pilipinas be the era when the Philippines soars, leaving a nation stronger, prouder, and united for generations.

Yours in hope for a transformative future,

Charlie M. Saquian MD

References

ASEAN Briefing, "Philippines Economic Outlook," May 16, 2022.
Control Risks, "Philippines: Marcos’s Economic Agenda," September 18, 2023.
Council on Foreign Relations, "Philippines’ Economic Resilience," January 29, 2024.
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Asia Pacific Foundation of Canada, "Philippines’ Economic Growth," March 14, 2025.
U.S. Embassy in the Philippines, "U.S.-Philippines Economic Cooperation," July 25, 2025.
TIME, "Philippines’ Economic Rise," February 28, 2024.
Rappler, "Philippines to be $1-Trillion Economy by 2030," December 5, 2015.
Rappler, "Philippines Exits FATF Grey List," July 29, 2025.
CSIS, "Philippines’ Role in Global Supply Chains," October 31, 2024.
Wikipedia, "Presidency of Bongbong Marcos," July 22, 2025.
GIGA Hamburg, "Philippines’ Digital Transformation," 2024.
East Asia Forum, "Marcos Jr’s Presidency: A Mixed Bag," January 18, 2024.
Al Jazeera, "Marcos’s Third SONA," July 22, 2024.
@inquirerdotnet, "Bagong Pilipino Vision," July 30, 2025.
@BusinessMirror, "Marcos’s Housing Program," July 28, 2025.
Bangko Sentral ng Pilipinas, "Inflation Report 2024," January 15, 2025.
International Monetary Fund, "World Economic Outlook," April 2025.
S&P Global, "Philippines on Track to Become One Trillion Dollar Economy by 2033," April 24, 2023.
Department of Finance, "Recto: R&I’s Upgrade of PH Credit Rating to A-," August 14, 2024.
World Bank, "Philippines Overview," April 20, 2025.
Philippine Institute for Development Studies, "Macroeconomic Prospects of the Philippines in 2024–2025," January 9, 2025.

Philippines' Economic Resilience Under Marcos Jr. Amid Global Challenges (2022-2025)

By: Charlie M. Saquian

August 1, 2025

Under President Ferdinand "Bongbong" Marcos Jr., who assumed office on June 30, 2022, the Philippines has demonstrated remarkable economic resilience, weathering global economic challenges that have strained even first-world economies. While advanced economies like the United States, Japan, and several European nations grappled with inflation, supply chain disruptions, and recessionary pressures, the Philippines achieved robust growth, driven by strategic reforms, foreign investment inflows, and prudent fiscal management. This report details how the Philippines navigated these global economic woes, highlights Marcos Jr.'s leadership, and provides updated insights into foreign investments, supported by credible references.

Philippines' Economic Resilience Amid Global Challenges

Between 2022 and 2025, the global economy faced significant headwinds, including post-COVID recovery challenges, the Russia-Ukraine conflict, energy crises, and rising interest rates in major economies. The U.S. experienced inflation peaking at 9.1% in June 2022, while the Eurozone saw similar pressures, with Germany entering a technical recession in 2023. In contrast, the Philippines recorded impressive GDP growth: 7.6% in 2023 (the highest in nearly five decades), 6.3% in 2024, and 5.4% in Q1 2025, positioning it as one of Southeast Asia’s fastest-growing economies.

Key Factors in Economic Resilience

Diversified Economic Base:
- The Philippines’ economy benefited from a diversified portfolio, including a strong IT-BPM sector, which contributed 7.5% to GDP in 2023, employing over 1.5 million workers. Unlike first-world economies heavily reliant on manufacturing or finance, the Philippines’ service-driven economy cushioned it against global supply chain shocks.
- Remittances from overseas Filipino workers (OFWs), totaling US$36.7 billion in 2023, provided a stable foreign exchange inflow, mitigating currency volatility seen in economies like Japan, where the yen weakened significantly.
Exit from FATF Grey List:
- In February 2025, the Philippines was removed from the Financial Action Task Force (FATF) Grey List, enhancing investor confidence. This exit reduced transaction costs for OFW remittances and improved access to global financial markets, unlike first-world economies facing stricter regulatory scrutiny.
Fiscal Discipline and Reforms:
- The Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act reduced corporate income tax from 30% to 25% (with a further reduction to 20% planned by 2027), attracting businesses. This contrasted with high-tax regimes in Europe, where corporate tax hikes stifled recovery.
- The Public Service Act Amendment (2022) allowed full foreign ownership in sectors like telecommunications and airports, drawing significant foreign direct investment (FDI). For instance, FDI inflows reached ₱697 billion in 2023, up 15% from 2022.
Proactive Monetary Policy:
- The Bangko Sentral ng Pilipinas (BSP) maintained a balanced monetary policy, keeping inflation at 3.3% in 2024, within the 2-4% target range. This stability contrasted with the U.S., where inflation-driven rate hikes slowed growth, and Japan, where ultra-low rates failed to spur recovery.
Strategic Foreign Investments:
- Marcos Jr.’s 31 international trips to 21 countries by July 2025 secured ₱4.019 trillion (US$72.178 billion) in investment pledges across 148 projects by December 2023. By Q1 2025, ₱294 billion (US$5.28 billion) had been actualized, creating jobs in renewable energy, infrastructure, and semiconductors.

Marcos Jr.’s Leadership and Investment Achievements

Marcos Jr.’s administration has prioritized economic diplomacy, leveraging foreign trips and policy reforms to attract investments and bolster growth. His leadership has been pivotal in positioning the Philippines as a stable investment destination amid global uncertainty.

Key Investment Highlights

Renewable Energy:
- AboitizPower Partnership (2024): Collaboration with U.S.-based InnovationForce to advance clean energy technologies, supporting the Philippines’ goal of 50% renewable energy by 2040.
- Sol-Go Investment: A US$500,000 investment in solar panel production in Lipa City, with plans for a US$5 million expansion to achieve 100-megawatt capacity by 2026.
Infrastructure:
- UPS Hub at Clark (2024): A US$250 million logistics hub at Clark International Airport, enhancing e-commerce and logistics capabilities.
- Luzon Economic Corridor (2024): Launched with U.S. and Japan, with a US$15 million U.S. pledge to catalyze private investments in transport, energy, and semiconductors.
- KKR’s Pinnacle Towers: A US$400 million investment to develop 2,000 telecom towers, improving digital connectivity.
Semiconductors and Electronics:
- Analog Devices (2023): A US$200 million R&D facility in Cavite.
- Texas Instruments (2023): Up to US$1 billion for facility expansions in Clark and Baguio City.
- The Philippine Economic Zone Authority (PEZA) aims to establish a lab-scale wafer fabrication plant by 2028, strengthening the country’s role in global supply chains.
IT-BPM and Telecommunications:
- Google Initiatives: Deployment of Google Career Certificates and the TPU subsea cable system (set for completion by late 2025), enhancing digital infrastructure.
- UltraPass ID (2024): Agreements with the Department of Budget and Management and NOW Corporation for biometric authentication systems.
Agriculture and Mining:
- Marcos emphasized agriculture in his 2025 State of the Nation Address, introducing subsidies and seed development programs. Mining saw renewed interest due to relaxed regulations and global demand for nickel and copper.

Marcos’s Economic Diplomacy

Marcos’s foreign trips have been instrumental:

United States (July 2025): Secured US$21 billion in pledges and a US$3 billion aid package for energy and maritime security.
China (January 2023): Attracted US$22.8 billion in pledges for agriculture, infrastructure, and energy.
Japan (February 2023): Secured billions in pledges for semiconductors and electronics.
ASEAN-Japan Summit (December 2023): Yielded US$263.08 million across nine projects.
APEC Summit (November 2023): Resulted in US$672.3 million in six investments.

Why First-World Economies Struggled

Inflation and Monetary Tightening:
- The U.S. Federal Reserve raised interest rates to 5.25-5.5% by 2023, slowing consumer spending and investment. The Eurozone followed suit, with the European Central Bank hiking rates to 4.5%, leading to stagnation in Germany and France.
- The Philippines’ BSP, however, balanced inflation control with growth, maintaining lower rates (peaking at 6.5% in 2023) and stabilizing the peso.
Energy Crises:
- Europe’s reliance on Russian gas led to energy shortages post-2022, with Germany’s industrial output dropping 2.1% in 2023. The Philippines, less dependent on imported fossil fuels, leveraged renewable energy investments to mitigate energy costs.
Supply Chain Disruptions:
- First-world economies faced prolonged supply chain issues, particularly in semiconductors and manufacturing. The Philippines, with its growing electronics sector and strategic U.S. partnerships, capitalized on global demand, attracting firms like Texas Instruments.
Geopolitical Vulnerabilities:
- Advanced economies faced geopolitical fallout from the Russia-Ukraine conflict and U.S.-China tensions. The Philippines navigated these by maintaining economic ties with both the U.S. and China, securing investments from both powers.

Challenges and Criticisms

Despite successes, challenges remain:

Pledge Realization: Only ₱294 billion of the ₱4.019 trillion in pledges had materialized by Q1 2025, requiring sustained effort.
Public Perception: A 2024 Social Weather Stations survey showed 51% of Filipinos felt little benefit from Marcos’s trips, up from 44% in 2022.
Geopolitical Risks: Marcos’s pro-U.S. stance in the South China Sea may impact Chinese investments, though economic ties with China remain strong.
Travel Costs: The Office of the President’s travel expenses surged by 996% in 2022, per the Commission on Audit, drawing public scrutiny.

Conclusion

Under Marcos Jr.’s leadership, the Philippines has emerged as a beacon of economic resilience, achieving robust growth while first-world economies faltered. Strategic reforms like the CREATE Act and Public Service Act amendment, coupled with Marcos’s aggressive economic diplomacy, have attracted ₱4.019 trillion in investment pledges, with ₱294 billion actualized by 2025. A diversified economy, stable monetary policy, and the FATF Grey List exit have further bolstered investor confidence. While challenges like pledge realization and public perception persist, Marcos’s proactive approach has positioned the Philippines as a standout in a turbulent global economy.

References

ASEAN Briefing, "Philippines Economic Outlook," May 16, 2022.
Control Risks, "Philippines: Marcos’s Economic Agenda," September 18, 2023.
Council on Foreign Relations, "Philippines’ Economic Resilience," January 29, 2024.
Philippine Embassy in Singapore, "Investment Pledges Update," September 15, 2023.
PBBM.com.ph, "Marcos’s Economic Achievements," March 20, 2025.
Inquirer.net, "Marcos’s Foreign Trips Yield ₱4T in Pledges," December 27, 2023.
Asia Pacific Foundation of Canada, "Philippines’ Economic Growth," March 14, 2025.
U.S. Embassy in the Philippines, "U.S.-Philippines Economic Cooperation," July 25, 2025.
U.S. Department of Commerce, "Investment Opportunities in the Philippines," March 12, 2024.
TIME, "Philippines’ Economic Rise," February 28, 2024.
Rappler, "Marcos’s Investment Pledges: Progress Report," December 27, 2023.
Rappler, "Philippines Exits FATF Grey List," July 29, 2025.
CSIS, "Philippines’ Role in Global Supply Chains," October 31, 2024.
Wikipedia, "Economic Policy of Ferdinand Marcos Jr.," July 22, 2025.
@inquirerdotnet, "Marcos Secures ₱4T in Pledges," December 18, 2023.
@pcogovph, "China Investment Pledges," January 5, 2023.
@pcogovph, "Japan Investment Commitments," February 9, 2023.
@tribunephl, "Marcos’s 2025 SONA Highlights," July 27, 2025.
@BusinessMirror, "Philippines’ GDP Growth in Q1 2025," July 26, 2025.
Bangko Sentral ng Pilipinas, "Inflation Report 2024," January 15, 2025.
International Monetary Fund, "World Economic Outlook," April 2025.

Economic Trajectories: The Philippines vs. Asia-Pacific in 2025-2026 – A Benchmark of Resilience and Growth

Introduction

As the world navigates the complexities of post-pandemic recovery and geopolitical tensions, the Philippines stands out as a beacon of economic resilience and adaptability in the Asia-Pacific region. Against the backdrop of global economic challenges, the nation’s robust growth trajectory and improving credit ratings underscore its commitment to sustainable development. This article explores the Philippines' economic performance in 2025-2026, juxtaposing it with the broader Asia-Pacific region, highlighting its geopolitical resilience, and examining its standing in global economic indices.

Economic Resilience Amid Global Challenges

The Philippine economy has demonstrated remarkable resilience despite disruptions caused by inflationary pressures, supply chain issues, and global economic uncertainty. With projected GDP growth rates of 5.8% to 6.2% for 2025-2026 (ADB estimates), the Philippines maintains its position as one of Southeast Asia's fastest-growing economies.

Contributing factors include:

Strong Domestic Consumption: The backbone of the Philippine economy continues to be its consumer-driven market, supported by a growing middle class and remittances from overseas Filipino workers (OFWs).
Robust Export Performance: Strategic diversification in electronics, agriculture, and outsourcing has allowed the Philippines to withstand shocks in global trade.
Infrastructure Development: The Marcos Jr. administration's “Build Better More” program enhances connectivity and drives job creation.

Compared to other Asia-Pacific nations, the Philippines’ growth trajectory aligns with regional leaders like Vietnam and Indonesia, which have also capitalized on domestic markets and strategic trade policies.

Global Economic Indices and Credit Ratings

The Philippines’ improving performance in global economic indices reflects its sound fiscal management and reforms.

Credit Ratings:
- In 2025, S&P Global Ratings affirmed the Philippines' BBB+ rating with a stable outlook, citing its strong external buffers and prudent monetary policies.
- Fitch Ratings similarly maintained its investment-grade status, acknowledging fiscal discipline and debt reduction efforts.
- These ratings bolster investor confidence, attracting foreign direct investment (FDI) into manufacturing, technology, and renewable energy sectors.
Ease of Doing Business:
- The Philippines has made strides in regulatory reforms, improving its ranking in the World Bank’s Doing Business report by streamlining processes for starting businesses, securing construction permits, and cross-border trade.
- Digitization efforts have reduced bureaucratic inefficiencies, fostering a more competitive environment.
Resilience Indices:
- The Global Resilience Index ranks the Philippines among the top nations prepared to handle economic and environmental shocks. Strategic investments in disaster management and climate adaptation play a key role.

Geopolitical Resilience in the Asia-Pacific Context

Amid escalating tensions in the Asia-Pacific, particularly in the South China Sea, the Philippines’ geopolitical stance has proven critical to regional stability.

Diplomatic Balancing Act: The Philippines continues to navigate relations with the U.S. and China, leveraging alliances to strengthen national security while fostering economic cooperation with both superpowers.
ASEAN Integration: Active participation in ASEAN initiatives ensures that the Philippines benefits from intra-regional trade agreements like the Regional Comprehensive Economic Partnership (RCEP).
Energy Security: Investments in renewable energy and energy independence reduce vulnerabilities to global energy market fluctuations, positioning the Philippines as a sustainable energy leader in the region.

Comparative Analysis with Asia-Pacific Economies

While countries like China and Japan remain economic giants in the Asia-Pacific, the Philippines is carving a niche as an emerging market powerhouse.

China: Slowing growth due to demographic challenges and geopolitical tensions with the West contrasts sharply with the Philippines' youthful population and expanding workforce.
Vietnam and Indonesia: Similar to the Philippines, these nations benefit from supply chain diversification away from China, but the Philippines’ English-speaking population gives it a competitive edge in services like business process outsourcing (BPO).
Japan and South Korea: Advanced economies like Japan and South Korea face aging populations, highlighting the Philippines’ demographic dividend as a critical growth driver in the medium term.

Future Outlook (2025-2026)

The Philippines is well-positioned to capitalize on global trends:

Green Economy Transition: Government incentives for renewable energy projects and eco-tourism attract global investors.
Digital Transformation: The Philippines’ thriving IT sector, supported by young tech-savvy professionals, enhances its competitiveness in the global digital economy.
Tourism Revival: With a focus on sustainable and cultural tourism, the country expects a significant boost in foreign arrivals, further fueling economic growth.

Conclusion

As the Asia-Pacific region grapples with uncertainties, the Philippines emerges as a resilient and dynamic economy. Buoyed by sound fiscal policies, improving global indices, and geopolitical adaptability, the nation stands as a testament to the power of strategic reforms and forward-looking governance. By continuing to leverage its strengths and addressing challenges, the Philippines is poised to achieve sustained growth and greater prominence in the Asia-Pacific economic landscape.

References

Economic Growth and Projections

Asian Development Bank (ADB) Estimates (2025-2026): Projected GDP growth rates of 5.8% to 6.2%.

Credit Ratings

S&P Global Ratings: Affirmation of the Philippines’ BBB+ rating with a stable outlook.
Fitch Ratings: Maintaining investment-grade status.

Global Economic Indices

World Bank’s Doing Business Report: Improvements in regulatory reforms for business processes.
Global Resilience Index: Ranking of the Philippines’ preparedness for economic and environmental shocks.

Geopolitical Resilience

Regional Comprehensive Economic Partnership (RCEP): ASEAN trade agreements benefiting the Philippines.

Comparative Analysis

Demographic Dividend vs. Aging Populations: Comparative analysis with Japan, South Korea, and China regarding workforce and demographic trends.
Supply Chain Diversification: Discussion on Vietnam, Indonesia, and the Philippines as beneficiaries of supply chain shifts from China.

Future Outlook

Green Economy Transition: Philippine government incentives for renewable energy and eco-tourism.
Digital Transformation: The role of the IT-BPO industry in the global digital economy.
Tourism Revival: Focus on sustainable and cultural tourism to boost foreign arrivals.

General Context

Philippine Government’s 'Build Better More' Program: Infrastructure development under the Marcos Jr. administration.
Remittances from Overseas Filipino Workers (OFWs): Contribution to domestic consumption.

World Bank Support for PBBM's Development Agenda Until 2031

Overview

Key Details of the World Bank’s Support

Accelerating Semiconductor Leadership: A Leapfrog Strategy for the Philippines to Achieve 20-30% Annual Growth in Chip Production Capacity by 2030

Introduction: A Vision for Bagong Pilipinas

The Current Landscape: Strengths and Challenges

The Leapfrogging Strategy: Seven Pillars for Success

Implementation Roadmap and Projected Impact

A Call to Action for Bagong Pilipinas

References:

Forging a Transformative Legacy: Marcos Jr.’s Path to Becoming the Philippines’ Greatest President by 2028

Building on a Strong Foundation (2022–2025)

A Roadmap to a Transformative Legacy by 2028

Addressing Challenges to Secure Your Legacy

A Legacy Greater Than All

Conclusion

References

Philippines' Economic Resilience Under Marcos Jr. Amid Global Challenges (2022-2025)

Philippines' Economic Resilience Amid Global Challenges

Marcos Jr.’s Leadership and Investment Achievements

Why First-World Economies Struggled

Challenges and Criticisms

Conclusion

References

Economic Trajectories: The Philippines vs. Asia-Pacific in 2025-2026 – A Benchmark of Resilience and Growth

The Philippines: A Trillion-Dollar Economy by 2030 and Beyond—A Global Economic Perspective

“Sandro Marcos: Navigating the Digital Philippines”

Abstract

Introduction: The Digital Frontier

Sandro’s Digital Footprint

The Enigma of Sandro

Conclusion: Pixels and Politics

Navigating the Archipelago: The Philippines’ Ascent Toward Prosperity and Innovation

Navigating Economic Growth Challenges in the Philippines

challenges faced by The Philippines towards its aspirations

Things that Manila Needs to Be a Smart City, & the Time Table When to Achieve

1. Infrastructure and Technology:

2. Environmental Initiatives:

Economic Trajectories: The Philippines vs. Asia-Pacific in 2024-2025

The Philippines Economy in 2024

Key Points for 2024:

Comparative Outlook for Asia-Pacific:

References:

The 2024 Philippine Robust Economic Growth: A Beacon in East Asia and the Pacific

The Strategy of War Deterrence: Preventing Economic and Humanitarian Collapse in the Face of Nuclear Catastrophe in the Backdrop of West Philippine/South China Sea Geopolitics

Disclaimer

The Philippines: A Trillion-Dollar Economy by 2030 and Beyond—A Global Economic Perspective

August 31, 2024

by: Charlie m. Saquian

Introduction

The Philippines, once dubbed the "Sick Man of Asia," is now on a path to becoming one of the world's leading economies. With projections indicating that the country could achieve a trillion-dollar economy by 2030 and sustain its growth trajectory up to 2050, the Philippines is poised to join the ranks of global economic powerhouses. This article delves into the forecasts of leading global economists and ASEAN Analytics, examining the factors contributing to this rapid economic rise, the role of President Bongbong Marcos Jr.'s administration, and how the country's GDP, Nominal GDP, and GDP per capita will compare to other leading nations.

The Philippines Today: Economic Resilience and Growth

As of today, the Philippines boasts a robust and resilient economy, with a GDP of approximately $440 billion (2023). Despite global economic challenges, the country has maintained a stable growth rate, driven by strong domestic consumption, remittances from overseas Filipino workers, and a burgeoning services sector, particularly in business process outsourcing (BPO) and digital industries. ASEAN Analytics highlights the Philippines as one of Southeast Asia's most dynamic economies, consistently posting GDP growth rates above 6% in recent years.

The Trillion-Dollar Milestone by 2030

According to forecasts by leading economists, the Philippines is expected to cross the trillion-dollar GDP mark by 2030. This milestone will place the country in the company of the world's top 20 economies, a significant leap from its current position. The key drivers of this growth include an expanding middle class, continued infrastructure development under the "Build, Build, Build" program, and increased foreign direct investment (FDI) fueled by economic reforms aimed at improving the business climate.

Economic Projections Up to 2050

Looking further ahead, the Philippines is projected to sustain its economic momentum, with GDP potentially reaching $1.7 trillion by 2050. This long-term growth is supported by a young and growing population, increased urbanization, and continued diversification of the economy into high-value sectors such as technology, manufacturing, and renewable energy. ASEAN Analytics suggests that by 2050, the Philippines could become the 16th largest economy globally, surpassing countries like Spain and Australia in terms of GDP.

Comparing GDP and GDP Per Capita

While the Philippines' GDP growth is impressive, it's essential to consider GDP per capita, which reflects the average income of citizens. As the country’s GDP grows, so too will its GDP per capita, rising from its current level of around $4,000 to an estimated $10,000 by 2030 and $15,000 by 2050. However, this will still lag behind developed nations like the United States and Germany, where GDP per capita exceeds $60,000. The Philippines' challenge will be ensuring that economic growth translates into improved living standards for its population, addressing income inequality, and reducing poverty.

President Bongbong Marcos Jr. as a Catalyst

The administration of President Bongbong Marcos Jr. plays a crucial role in steering the Philippines toward this promising future. His government's focus on infrastructure, digital transformation, and economic reforms has laid the groundwork for sustained growth. The continuation of the "Build, Build, Build" program, now rebranded as "Build Better More," aims to modernize the country’s infrastructure, improve connectivity, and attract more FDI. Additionally, Marcos Jr.'s push for agricultural modernization and food security is expected to enhance productivity and reduce the country's reliance on imports.

Conclusion

The Philippines is on the cusp of a remarkable economic transformation. With a trillion-dollar economy within reach by 2030 and continued growth expected through 2050, the country is set to become a significant player on the global stage. However, achieving this potential will require sustained efforts to ensure that economic growth is inclusive, addressing the needs of all Filipinos. President Bongbong Marcos Jr.'s administration has already set the wheels in motion, positioning the Philippines as a rising star in the global economy.

References

Philippines GDP Forecast - 2030 and 2050 ( more)
ASEAN Analytics Economic Outlook ( more)
President Bongbong Marcos Jr. Economic Reforms (more)

“Sandro Marcos: Navigating the Digital Philippines”

August 15, 2024

by Charlie M. Saquian

Abstract

The political landscape of the Philippines is no longer confined to traditional arenas—it now unfolds in the digital realm. Ferdinand Alexander Araneta Marcos III, known colloquially as Sandro Marcos, finds himself at the intersection of legacy, technology, and ambition. In this article, we explore how Sandro’s journey intertwines with the digital transformation of the nation.

Introduction: The Digital Frontier

The Philippines, like many countries, grapples with the challenges and opportunities of the digital age. As Sandro steps onto the political stage, he confronts a landscape shaped by social media, data privacy, and connectivity. Let us dissect the elements that define this new era.

Sandro’s Digital Footprint

Education in the Digital Age:
- Sandro’s international education mirrors the globalized nature of information exchange. His alma maters—City, University of London, and the London School of Economics and Political Science—nurtured critical thinking and digital literacy.
- How will Sandro leverage this education to navigate the complexities of e-governance and digital diplomacy?
The Duterte-Marcos Tango Reloaded:
- Sandro’s alliance with Sara Duterte, herself a social media-savvy politician, hints at a digital strategy. The Marcos-Duterte rift plays out not only in press conferences but also in Twitter threads and Facebook debates.
- Will Sandro harness the power of hashtags and memes to sway public opinion?

The Enigma of Sandro

Youthful Ambition, Digital Savvy:
- Sandro’s youth belies his digital acumen. He understands the pulse of online discourse, from trending topics to algorithmic biases.
- Can he bridge the generational gap, engaging both tech-savvy youth and traditional voters?
Data Privacy and Transparency:
- The digital age demands transparency. Sandro’s stance on data privacy, cybersecurity, and government surveillance remains elusive.
- Will he champion digital rights or succumb to the allure of surveillance tools?

Conclusion: Pixels and Politics

As Sandro Marcos charts his course, pixels merge with politics. The digital Philippines awaits—a canvas where tweets become policy statements and viral videos shape public sentiment. Whether Sandro becomes a pixelated footnote or a digital disruptor remains to be seen.

References:

Lowy Institute: Marcos vs Duterte: Domestic politics meets grand strategy
Al Jazeera: Marcos dynasty back in power: What’s next for the Philippines?
TIME: Ex-Philippine Leader Duterte Rails Against President Marcos
The Diplomat: The Marcos-Duterte Rift Widens in the Philippines

Navigating the Archipelago: The Philippines’ Ascent Toward Prosperity and Innovation

March 25, 2024

Abstract

As the sun rises over the azure waters of the Philippine archipelago, I find myself reflecting on the journey that our nation has embarked upon. As an unwavering advocate for the E Philippines since 2017, I am compelled to share our story—a narrative of resilience, aspiration, and unwavering commitment to progress. In this scholarly article, I delve into the multifaceted dimensions that define the Philippines in March 2024. With utmost respect and dedication, I present this work to His Excellency President Ferdinand "Bongbong" Marcos Jr. and the Filipino people.

Introduction

The Philippines, a land of contrasts and harmonies, stands at the crossroads of history. Our islands, each with its unique tapestry of culture, have woven together a vibrant mosaic—a testament to the indomitable spirit of our people. As I put pen to paper, I am acutely aware of the weight of responsibility that comes with chronicling our nation's trajectory. This article is not merely ink on parchment; it is a tribute to our shared dreams and collective endeavors.

Economic Resilience and Ambitions

In the economic arena, the Philippines has emerged as a beacon of growth. The year 2023 witnessed our economy outpacing its regional counterparts, growing at a remarkable rate of 5.6 percent. As we step into 2024, our sights remain fixed on the horizon. Projections indicate a GDP growth between 5 and 6 percent, a testament to our resilience in the face of global challenges. The path toward upper middle-income status by 2028 beckons, and we march forward with determination.

But it is the audacious vision that truly sets our hearts ablaze. By 2033, we aspire to join the ranks of Asia-Pacific's trillion-dollar economies. The Philippines, once a pearl in the Pacific, now seeks to shine as a diamond—a testament to our unwavering commitment to prosperity.

Strategic Significance and Regional Stewardship

Geopolitics, like the currents that cradle our islands, shapes our destiny. While we do not brandish swords, we wield influence. Our strategic location in Southeast Asia is no mere happenstance; it is a mantle of responsibility. The Philippines, with its modernizing defense forces, contributes to regional stability—a silent guardian against turbulence. We are not pawns; we are stewards of peace.

The Smart Philippines Vision

In the digital age, innovation is our compass. The vision of a "Smart Philippines" transcends mere bytes and algorithms. It is a symphony of connectivity, e-governance, and sustainable development. By 2040, we envision a nation where data flows seamlessly, where blockchain secures our transactions, and where artificial intelligence fuels our progress. Our youth, armed with knowledge, will lead this transformation—a generation unafraid to dream beyond the horizon.

Dedication to His Excellency President Ferdinand "Bongbong" Marcos Jr.

To our esteemed leader, President 'Bongbong' Marcos Jr., this article is a heartfelt tribute. Your vision, sagacity, and unwavering commitment to the Filipino people inspire us. May our collective efforts propel the Philippines toward a future where prosperity and innovation intertwine—a legacy etched in the annals of our nation.

Conclusion

As the ink dries on this parchment, I am filled with hope. The Philippines, with its sun-kissed shores and resilient spirit, charts a course toward prosperity. Our journey is not without challenges, but we sail forth—undaunted, united. Let this article be a compass for those who seek to understand our narrative—a testament to the Philippines' ascent toward greatness.

Dr. Charlie M. Saquian, E Philippines Advocate - Meta

This article is dedicated to His Excellency President Ferdinand "Bongbong" Marcos Jr. and the Filipino People.

References

Things that Manila Needs to Be a Smart City, & the Time Table When to Achieve

April 12, 2024

To transform Manila into a Smart City, several key elements are necessary. Here's a summary of the requirements and a proposed timeline for achieving them:

1. Infrastructure and Technology:

- Networks of sensors and data integration for various city services.

- Connectivity for municipal officials to interact with the community and manage city infrastructure.

- Open data philosophy for sharing operations and planning data with the public⁶.

2. Environmental Initiatives:

- Sustainable energy solutions.

- Efficient waste management systems.

- Green spaces and pollution control measures 10.

3. Transportation:

- Effective and highly functional public transportation.

- Smart traffic management systems to reduce congestion 10.

4. Governance:

- Digital platforms for citizen engagement.

- Transparent and efficient public services¹¹.

5. Economic Growth:

- Encouraging business opportunities and innovation.

- Job creation through technological advancements⁶.

Proposed Timeline:

- Short-term (1-2 years): Begin implementing foundational infrastructure like high-speed internet and sensor networks.

- Mid-term (3-5 years): Develop and integrate smart transportation systems, energy solutions, and waste management.

- Long-term (5-10 years): Focus on governance, economic growth, and ensuring all systems are interconnected and efficiently managed.

For Manila specifically, initiatives such as the New Manila Bay City of Pearl project are underway, which will feature a central business district, residential, retail, entertainment, and other facilities¹. Additionally, the Philippines Smart Cities program is enhancing smart city programs across Metro Manila, focusing on disaster risk reduction, digital health and education, and cybersecurity⁵.

Achieving Smart City status is a continuous process that requires ongoing innovation and adaptation to new technologies and urban challenges. The timelines provided are estimative and may vary based on resource allocation, government support, and collaboration with private sectors and academia.

References:

(1) What is a Smart City? | IBM. https://www.ibm.com/topics/smart-city.

(2) What is a Smart City? – Definition and Examples - TWI. https://www.twi-global.com/technical-knowledge/faqs/what-is-a-smart-city.

(3) 5 focal points needed to develop a smart city | Smart Cities Dive. https://www.smartcitiesdive.com/news/5-focal-points-needed-to-develop-a-smart-city/580023/.

(4) World's biggest smart city to rise in the Philippines. https://www.smartcitiesassociation.org/index.php/media-corner/news/91-world-s-biggest-smart-city-to-rise-in-the-philippines.

(5) The Philippines Smart Cities - International Trade Administration. https://www.trade.gov/market-intelligence/philippines-smart-cities.

(6) Smart City Solutions: Shaping the Filipino Cities of Tomorrow. https://blogs.worldbank.org/en/eastasiapacific/smart-city-solutions-shaping-filipino-cities-tomorrow.

(7) Manila drops in list of smart cities | The Manila Times. https://www.manilatimes.net/2024/04/12/news/national/manila-drops-in-list-of-smart-cities/1940936.

(8) Smart City in The Philippines & How its Works | Condo Living. https://www.vistaresidences.com.ph/blog/smart-city-in-the-philippines-and-how-its-works.

(9) Characteristics and Key Considerations - CISA. https://www.cisa.gov/sites/default/files/publications/Trust%20in%20Smart%20City%20Systems%20Report%2020200715_508.pdf.

(10) What is a Smart City? – Definition and Examples - TWI. https://bing.com/search?q=requirements+for+a+city+to+be+considered+a+Smart+city.

(11) Requirements and future of smart cities - Express Computer. https://www.expresscomputer.in/columns/icts-and-smart-cities/2434/.

Economic Trajectories: The Philippines vs. Asia-Pacific in 2024-2025

Let's delve into the economic prospects for the Philippines in 2024 and 2025, comparing them to the rest of the Asia-Pacific region.

The Philippines Economy in 2024

The Philippines concluded 2023 on a high note, emerging as the fastest-growing economy across Southeast Asia with a growth rate of 5.6 percent—just shy of the government's target of 6.0 to 7.0 percent. Despite various global economic pressures, the Philippines is expected to demonstrate resilience and significant growth in 2024¹.

Key Points for 2024:

1. GDP Growth: The current economic forecast for the Philippines projects a GDP growth rate of between 5 and 6 percent in 2024.

2. Inflation: Inflation rates are expected to moderate between 3.2 and 3.6 percent in 2024, following the higher rate of 6.0 percent recorded at the end of 2023.

3. Sector Performance: In 2023, the growth in the Philippine economy was driven by a resumption in commercial activities, public infrastructure spending, and growth in digital financial services. Notably, sectors such as transportation and storage, construction, and financial services performed well¹.

Comparative Outlook for Asia-Pacific:

1. World Bank Projection (2024):

- The World Bank forecasts regional growth of 4.5 percent for the Asia-Pacific region (excluding China) in 2024, down from 5.1 percent in 2023³.

- The Philippines' projected GDP growth of 5.9 percent in 2025 surpasses the earlier estimate of 5.8 percent²⁴.

- However, the World Bank's growth forecasts for the Philippines remain slightly lower than the government's targets of 6.5-7.5 percent for 2024 and 6.5-8 percent for 2025 to 2028⁴.

2. ASEAN+3 Macroeconomic Research Office (AMRO):

- The Philippines is expected to grow faster than other ASEAN member countries, China, Japan, South Korea, and Hong Kong in both 2024 and 2025.

- Elevated inflation remains a key risk to the outlook, but overall, the Philippine economy is likely to post robust growth⁵.

In summary, the Philippines is poised for continued economic expansion, and its performance in the coming years will be closely watched within the dynamic Asia-Pacific landscape.

References:

(1) The Philippines economy in 2024 | McKinsey. https://www.mckinsey.com/ph/our-insights/the-philippines-economy-in-2024-stronger-for-longer.

(2) World Bank raises 2025 PH GDP estimate, keeps 2024 forecast. https://mb.com.ph/2024/4/1/article-2105.

(3) PH to be one of fastest-growing economies in East Asia and Pacific. https://www.pna.gov.ph/articles/1221770.

(4) World Bank raises Philippine GDP growth projection for 2025. https://www.bworldonline.com/top-stories/2024/04/02/585060/world-bank-raises-philippine-gdp-growth-projection-for-2025/.

(5) Philippines likely to post fastest GDP growth among ASEAN+3 countries .... https://www.bworldonline.com/top-stories/2024/04/09/586852/philippines-likely-to-post-fastest-gdp-growth-among-asean3-countries-this-year-2025/.

The 2024 Philippine Robust Economic Growth: A Beacon in East Asia and the Pacific

By: Dr. Charlie M. Saquian

April 2, 2024

The 2024 Philippine Robust Economic Growth: A Beacon in East Asia and the Pacific

Abstract

The Philippines has emerged as a shining star in the economic landscape of East Asia and the Pacific. With robust growth rates and strategic resilience, the country is poised to lead the region in 2024. This article delves into the factors driving the Philippine economy, explores key sectors, and discusses the path to sustained prosperity.

Introduction

In recent years, the Philippines has demonstrated remarkable economic resilience, overcoming global challenges and internal dynamics. As we step into 2024, the nation's growth trajectory remains promising. Let us delve into the key drivers of this robust economic expansion.

1. Strong Growth Momentum

The Philippines ended 2023 on a high note, achieving a growth rate of 5.6 percent, making it one of the fastest-growing economies across Southeast Asia. Although slightly below the government's target of 6.0 to 7.0 percent, this performance underscores the country's resilience². Projections for 2024 indicate continued growth, reinforcing the Philippines' position as a beacon in the region.

2. Sectoral Insights

a. Financial Services

- Inclusive Finance: The Bangko Sentral ng Pilipinas continues to invest in financial inclusion initiatives. Basic deposit accounts (BDAs) reached $22 million in 2023, and banking penetration improved significantly, with the proportion of adults holding formal bank accounts rising from 29 percent in 2019 to 56 percent in 2021².

- Digital Adoption: Digital channels are expected to flourish further, with data revealing that 60 percent of adults with mobile phones and internet access have engaged in digital financial transactions². However, businesses in this sector must remain vigilant against cybersecurity and fraud risks.

- Unsecured Lending Growth: While unsecured lending is expected to continue, the pace may moderate compared to the past two to three years. For instance, unsecured retail lending for the banking system alone grew by 27 percent annually from 2020 to 2022².

b. Trade and Infrastructure

- Resumption of Commercial Activities: The revival of commercial activities played a pivotal role in the 2023 economic surge. Sectors such as transportation and storage (13 percent), construction (9 percent), and financial services (9 percent) contributed significantly².

- Trade Deficit: Although the trade deficit narrowed in 2023, it remains elevated at $52 billion due to global demand slowdown and geopolitical uncertainties².

3. Inflation and Outlook

- GDP Growth: The current economic forecast for the Philippines projects a GDP growth rate between 5 and 6 percent in 2024².

- Inflation Rates: After ending 2023 at 6.0 percent (above the government's target range of 2.0 to 4.0 percent), inflation rates are expected to moderate between 3.2 and 3.6 percent in 2024².

Conclusion

The Philippines stands at the cusp of an exciting economic journey. As we navigate the challenges ahead, the nation's resilience, strategic policies, and vibrant sectors will continue to propel it forward. The 2024 Philippine robust economic growth is not just a statistic; it's a testament to the spirit of progress and possibility.

Charlie M. Saquian, PBBM VPSara E Philippines

References:

(1) The Philippines economy in 2024 | McKinsey.

(2) PH to be one of fastest-growing economies in East Asia and Pacific.

(3) PH to be one of fastest-growing economies in East Asia and Pacific.

(4) Philippines: Paving the way to a robust economic future - Manila Bulletin.

(5) PH to do even better in 2024 after performing well last year, says ....

The Strategy of War Deterrence: Preventing Economic and Humanitarian Collapse in the Face of Nuclear Catastrophe in the Backdrop of West Philippine/South China Sea Geopolitics

By Dr. Charlie M Saquian

March 21, 2024

Introduction

Fourteen months into President Ferdinand “Bongbong” Marcos Jr.’s tenure, the Philippines stands at a crossroads with profound implications for the region and the United States. The transformation of the Philippines into an increasingly active middle power under the younger Marcos may either uphold or upend peace in the South China Sea. In this article, we delve into the strategic shifts, alliances, and the delicate balance between deterrence and diplomacy.

The Renaissance of Philippines-U.S. Relations

During his inaugural address last year, President Marcos pledged to unite all 110 million Filipinos to “achieve the country” they deserve. Beneath a humble mien, he barely concealed his ambition of restoring the family name. The Marcos brand was badly tarnished after “People Power” banished his father from Malacañang Palace in 1986. Still, Marcos Jr. stressed on day one, “I am here not to talk about our past. I am here to tell you about our future.”

What has happened since June 30, 2022, is nothing short of a renaissance in Philippines-U.S. relations. Former President Rodrigo Duterte’s threats to the alliance were often full of bluster. Still, it is hard to disagree with the characterization that the Philippines under Marcos is the United States’ “new star ally.” Even so, it would be a mistake to assume that Marcos puts the U.S. national interest ahead of his country’s.

The Overhaul of Philippine Strategy

Marcos is overhauling Philippine strategy. Early in August, he approved a new national security framework centered on the “paramount” objectives of “national sovereignty, territorial integrity, national interest, and the right to self-determination.” Although Executive Order No. 37 is cryptic, the new policy replaces a longstanding national security fixation on land-based counterinsurgency and counterterrorism with an overriding focus on the protection of maritime sovereignty in the West Philippines Sea and stability across the Taiwan Strait.

The pivot was announced days after the Chinese Coast Guard used water cannons to block Philippine Navy-chartered civilian vessels from conducting a routine resupply mission to Second Thomas Shoal. Beijing has been using a variety of grey-zone tactics to obstruct and harass the Philippines whenever it seeks to preserve the rusting hull of BRP Sierra Madre, a World War II-era landing craft deliberately grounded in 1999 to create a Spratly outpost akin to what China had built up in nearby Mischief Reef.

Manila’s strategic shift is as significant as any in the region since Japan quietly began reorienting its posture with the release of the December 2010 National Defense Program Guidelines. The Philippines, once caught in the crossfire of great power competition, now seeks to deter aggression while avoiding outright conflict.

Geo-Alliances and the Delicate Balance

In this high-stakes geopolitical theater, the Philippines navigates a delicate balance. Its robust alliance with the United States provides a security umbrella, but President Marcos is keenly aware that the region’s stability hinges on more than military might. Economic partnerships, humanitarian cooperation, and diplomatic finesse are equally vital.

1. United States

The cornerstone of Philippine security, the U.S. alliance ensures deterrence against aggression. Joint patrols in the South China Sea signal resolve, but the Marcos strategy is not about declaring China bad and America good. It’s about standing up for the sovereignty of the Philippines.

2. ASEAN

The Association of Southeast Asian Nations (ASEAN) plays a pivotal role. The Philippines collaborates with its neighbors to foster regional stability, promote economic growth, and address shared challenges. Unity within ASEAN is essential to counterbalance external pressures.

3. Japan

A historical friend and economic partner, Japan’s support extends beyond defense. Investments in infrastructure, technology, and capacity-building contribute to the Philippines’ resilience.

4. Australia

The Philippines and Australia share interests in maritime security and disaster response. Their cooperation strengthens the region’s ability to manage crises.

5. India

As a rising power, India’s engagement with the Philippines enhances economic ties and provides an alternative to China’s dominance.

6. Vietnam, Germany, and Czech Republic

These nations have expressed support for the Philippines’ stance on the South China Sea dispute, favoring the 2016 South China Sea Arbitral Award by the UN Permanent Court of Arbitration. Their alignment underscores the importance of adhering to international law and upholding the rights enshrined in UNCLOS.

Conclusion

President Bongbong Marcos Jr.’s strategic vision transcends mere military posturing. It embraces diplomacy, economic resilience, and humanitarian cooperation. In the face of nuclear catastrophe risks, the Philippines charts a course that balances deterrence with dialogue, safeguarding its people and the region from the abyss of conflict.

In this intricate dance of alliances, President Marcos must tread carefully. The Philippines, once a pawn in great power games, now holds a pivotal role. The strategy of war deterrence is not merely about military hardware; it’s about weaving a tapestry of economic cooperation, humanitarian aid, and diplomatic finesse. The stakes are high, and the world watches as the Philippines navigates the treacherous waters of the West Philippine/South China Sea.

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‘Bongbong’ Marcos and the Future of Philippines-U.S. Relations

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