Tag: Economic Growth
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Philippine Migrant Workers Department Seeks Expanded Employment for Skilled Filipinos in UAE
The Department of Migrant Workers (DMW) in the Philippines is actively working to increase job prospects for skilled Filipino workers in the United Arab Emirates (UAE), aligning with the UAE’s strategy to boost its workforce for its 2025 development goals. Migrant Workers Secretary Hans Leo Cacdac emphasized the DMW’s dedication to finding more international job…
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DOLE Advocates for Advanced Labor Market Systems to Bridge Skills Gaps in ASEAN
MANILA – The Department of Labor and Employment (DOLE) has highlighted the critical role of advanced labor market information systems (LMIS) in tackling skills shortages during the green and digital economic shifts across Southeast Asia. This was emphasized by DOLE Undersecretary Carmela Torres during a workshop in Makati City, attended by ASEAN member states, international…
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DOLE Advocates for Advanced Labor Market Systems to Bridge Skills Gap in ASEAN
The Department of Labor and Employment (DOLE) has highlighted the critical role of advanced labor market information systems (LMIS) in tackling skills shortages during the green and digital economic shifts in Southeast Asia. This was emphasized by DOLE Undersecretary Carmela Torres during a workshop in Makati City, attended by ASEAN member states, international organizations, and…
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Philippine Money Supply and Bank Lending Surge in December 2024
The Bangko Sentral ng Pilipinas (BSP) announced a significant rise in the nation’s money supply, known as M3, for December 2024. The money supply grew by 7.7% to reach PHP18.8 trillion, up from PHP17.4 trillion the previous year. On a month-to-month basis, M3 saw a slight increase of 0.2% from PHP18.1 trillion in November 2024.…
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Davao City Surpasses Revenue Goals with PHP13.4 Billion in 2024
In a remarkable financial achievement, Davao City has reported a revenue collection of PHP13.4 billion for the year 2024, surpassing the set target of PHP12.7 billion, according to the City Treasurer’s Office (CTO). This figure represents a 4.5 percent increase over the previous year’s collection, as stated by Lawrence Bantiding, the officer-in-charge at the CTO.…
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Groundbreaking Ceremony Marks Start of Mati Airport Expansion
On Monday, February 10, 2025, local officials in Mati City celebrated the groundbreaking of the Mati Airport Development Project, a significant step towards enhancing the region’s connectivity and economic growth. The project, set to be completed by 2026, aims to enable the airport to handle smaller aircraft initially, with plans for future expansion to accommodate…
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Foreign Direct Investment in the Philippines Surges to $8.6 Billion in 2024
MANILA – The Bangko Sentral ng Pilipinas (BSP) reported a 4.4% increase in net foreign direct investment (FDI) inflows, totaling $8.6 billion from January to November 2024, compared to $8.2 billion in the same period of the previous year. FDIs are investments where a foreign entity holds at least 10% equity in a local company,…
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Philippines’ MIC and Thailand’s CP Group Forge Strategic Alliance in Agriculture, Digital, and Energy Sectors
In a significant move to bolster economic ties, the Maharlika Investment Corporation (MIC) of the Philippines and Thailand’s Charoen Pokphand Group Co., Ltd. (CP Group) have entered into a strategic partnership. The agreement, formalized through a memorandum of understanding (MOU), was signed in the presence of President Ferdinand R. Marcos Jr. at Malacañan Palace in…
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NEDA Highlights AI’s Role in Boosting Philippine Economy
MANILA – The National Economic and Development Authority (NEDA) has emphasized the transformative potential of artificial intelligence (AI) in propelling economic growth, increasing productivity, and sparking innovation across multiple sectors in the Philippines. A recent policy note from NEDA’s Office of the Undersecretary for Legislative Affairs, authored by Krystal Lyn Tan Uy, delves into how…
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DPWH Finishes P72.4-M Flood Control Initiative in Hermosa, Bataan
The Department of Public Works and Highways (DPWH) has successfully completed a significant flood control project in Hermosa, Bataan, aimed at reducing the impact of flooding along the Mabiga River. The project, valued at PHP72.4 million, stretches over 558.09 meters and features a reinforced concrete slope protection system with an elevated foundation, designed to enhance…
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