#asean-summit — Public Fediverse posts

Philippines 2026 Foreign Tourist Arrivals Reach 4.11 Million as of August, U.S. and South Korea Remain Top Markets

With the Peso performing terribly in the global currency market, weakening economic growth, high inflation and fears of an economic recession growing, 2026 has not been good for the Philippines. There is a bright spot in tourism, however, as the Philippines saw its 2026 foreign tourist arrivals reach 4.11 million in the January-August period and the United States and South Korea combined for more than 1.5 million tourist arrivals, according to a news article by the Philippine News Agency (PNA).

To put things in perspective, posted below is an excerpt from the news report of BusinessWorld. Some parts in boldface…

The Philippines has recorded 4.11 million foreign arrivals from January to August, higher by 3.7 percent compared to the same period last year, the Department of Tourism (DOT) said on Tuesday.

The United States posted the highest number of share at 818,318, followed by South Korea at 727,379, Japan at 350,191, China at 310,088, and Australia at 234,156.

Also making it in the top 10 source markets are Canada with 231,972, Taiwan with 154,957, the United Kingdom with 132,370, Singapore with 126,812, and India with 77,883.

Tourism Secretary Dita Angara-Mathay said the Philippines targets to surpass its 2025 arrival figures to reach between 6.4 million and 6.8 million, or at least 7 million, by the end of 2026.

To achieve this, she said the DOT is intensifying its branding and promotions to reach more tourists in its key source markets.

The DOT is also in active talks with airlines to open up and establish more chartered flights between the Philippines and secondary cities of Korea and China.

DOT Assistant Secretary Ren Sapitan said the agency is also set to sign a contract with a creative agency in November to broaden the country’s marketing efforts and make the Philippines more visible worldwide.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Philippines will be able to exceed the 2025 foreign tourist arrivals number by the end of this year? Do you think the DOT is doing a good job to strengthen the Philippines’ attraction of foreign tourists? Considering the Top 10 markets of foreign tourists the Philippines attracted so far, are you convinced that the nation’s hosting of the Association of Southeast Asian Nations (ASEAN) Summit did not create any positive tourism results?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Moody’s Analytics Cuts Philippines 2026 GDP Growth Forecast to 3%

By citing key factors like weak consumption, Middle East oil shock and the collapse in private investment, Moody’s Analytics officially slashed its 2026 gross domestic product (GDP) growth forecast for the Philippines to 3%, according to a news report by BusinessWorld.

To put things in perspective, posted below is an excerpt from the news report of BusinessWorld. Some parts in boldface…

MOODY’S ANALYTICS slashed its 2026 growth forecast for the Philippines, amid weak consumption and a collapse in private investment.

In its latest Asia-Pacific Outlook report dated Aug. 24, the analytics firm said it now sees Philippine gross domestic product (GDP) expanding by 3% this year, slower than its 4% projection in June.

“We lowered our 2026 GDP growth forecast to 3% from 4% in the June vintage after incorporating the second-quarter GDP result, which was far weaker than expected,” Moody’s Analytics Assistant Director and Economist Sarah Tan said in an e-mailed reply to questions.

The Philippine economy slumped to its worst post-pandemic growth of 2.3% in the April-to-June period, as investments and public construction continued to reel from last year’s flood control corruption scandal. Rising prices from the Middle East war-driven oil shock also strained household spending.

“The economy expanded by just 2.3% year on year, with private consumption showing notable weakness and private investment collapsing,” Ms. Tan noted. “This points to softer underlying domestic demand than we had previously anticipated.”

As of the first half of 2026, the country’s GDP growth averaged 2.6%, well below the government’s 3.5%-4.5% full-year target.

If Moody’s Analytics’ forecast holds true, the government will miss its growth target for a fourth year in a row. The economy would also further soften from last year’s post-pandemic low growth of 4.4%.

Economists earlier said that reaching even the bottom end of the government’s target entails a steep climb, as it means the economy must grow by at least 4.4% in the second half.

Moody’s Analytics sees growth recovering over the next two years to 4.6% in 2027 and 5.1% in 2028. The government wants full-year expansion to be between 5% and 6% from 2027 to 2030.

Meanwhile, GlobalSource Partners Country Analyst Diwa C. Guinigundo noted that the Philippines could face a more complicated path toward fiscal consolidation if growth remains below potential.

“Slower growth would make fiscal consolidation and debt reduction more difficult,” he said in a Viber message. “The issue is not simply that government revenues would grow more slowly; a weaker economy also means a smaller denominator for the debt-to-GDP ratio.”

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think 2026 will end up as a very disappointing year of economic growth for the Philippines? Do you think the economy of the Philippines could still fall into a recession in 2027 or in the first half of 2028? Are you convinced that the Philippines has nothing to gain economically from hosting the ASEAN Summit?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Philippines Attracts FDI Worth $210 Million in May 2026

The Philippines, which hosted the summit of the Association of Southeast Asian Nations (ASEAN) and other related conferences, failed once again on attracting significant foreign direct investment (FDI) as the May 2026 FDI net inflow was counted at $210 million only making it the lowest in eleven years, according to a news report by the Manila Bulletin.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…

Foreign direct investment (FDI) net inflows into the Philippines plunged to $210 million in May, the lowest monthly total in more than 11 years as global economic volatility and geopolitical tensions prompted foreign companies to delay capital commitments.

According to the latest data from the Bangko Sentral ng Pilipinas (BSP), released on Monday, Aug. 10, the May figure represents a 64.7 percent contraction from the level recorded in May 2025 and falls below the previous record low of $200.43 million seen in March 2015.

The sharp monthly drop dragged total net inflows for the first five months of 2026 to $2.18 billion, a 33.4 percent decline from the $3.27 billion recorded in the same period last year.

According to the BSP, the cumulative decline was “driven by lower foreign net investments in debt instruments and reinvestment of earnings, which more than offset the increase in net equity capital investments (other than reinvestment of earnings).”

The central bank added that this trend “reflected lower intercompany borrowings from foreign direct investors and reduced earnings retained for reinvestment during the period.”

Among its components, the primary driver of the May shrinkage was the sharp fall in net investments in debt instruments, which tumbled 92.1 percent to $35 million from $440 million a year earlier.

As of end-May, debt instruments—which “consist mainly of intercompany borrowing or lending between foreign direct investors and their subsidiaries or affiliates in the Philippines”—totaled $1.25 billion, dropping by nearly half from the $2.48 billion recorded in 2025.

This five-month performance follows a challenging 2025, during which annual net inflows plunged to $7.79 billion from $9.40 billion in 2024. The BSP forecasts inflows to clock in lower at $7 billion before rebounding to $8 billion in 2027.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think hosting the ASEAN Summit will lead the Philippines to economic miracles and stronger FDI in the near future?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

America’s Ban On Importing Crab Meat From The Philippines Takes Effect

Due to the Philippines’ failure to comply with the US Marine Mammal Protection Act (MMPA), the United States’ ban on importing Philippine crab meat officially took effect, according to a business news report by the Philippine Star. This latest development is another embarrassment for the Philippines as it is the only Association of Southeast Asian Nations (ASEAN) member nation that failed the US comparability assessment. It should be noted that the Philippines took pride in hosting the ASEAN Summit this year.

To put things in perspective, posted below is an excerpt from the Philippine Star news report. Some parts in boldface…

As the US import ban on Philippine crab meat takes effect today, the blue swimming crab industry is bracing for massive economic losses – estimated at P6 billion to P7 billion annually – and job displacements, an industry stakeholder said.

Former E.B. Magalona mayor and crab meat exporter Alfonso Gamboa said the country’s failure to comply with the US Marine Mammal Protection Act (MMPA) led to the loss of its largest export market.

About 90 percent of Philippine crab meat production is exported to the United States, Gamboa said.

The United States National Marine Fisheries Service (NMFS) announced on May 12 that imports of Philippine blue swimming crab products would be restricted due to inadequate documentation on mandatory marine mammal protection and bycatch monitoring programs.

Gamboa, president of Saravia Blue Crab Inc., a major blue crab processing company, said the Philippines is the only ASEAN country that failed the US comparability assessment, noting that Indonesia, Sri Lanka, India, Vietnam and even China were able to comply.

“We failed because of insufficient documentation and monitoring measures concerning marine mammal protection,” he said.

Gamboa said the industry had already been experiencing difficulties since September 2025 when Philippine exporters were initially denied access to the US market. An appeal filed in January 2026 was likewise unsuccessful.

“In other words, the Bureau of Fisheries and Aquatic Resources (BFAR) did not do its job,” he said.

Gamboa estimated that around 10,000 fishermen and an additional 4,000 to 5,000 crab meat pickers in Negros, Panay, Bicol, Samar, Leyte and parts of Mindanao could be affected by the loss of the US market.

Major production areas include the Visayan Sea, Guimaras Strait, San Miguel Bay, Masbate, Sorsogon, Camarines Norte and Camarines Sur.

The Philippines exports approximately 500,000 pounds of crab meat monthly to the US, with products sourced from processing facilities in Bacolod, Iloilo, Cebu, and other coastal communities.

Although alternative markets such as China, the European Union, Canada and Australia remain available, Gamboa said they are too small to absorb the volume previously purchased by US buyers.

“These markets cannot absorb the displaced workers or the volume we used to ship to the United States,” he said.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the government of the Philippines will be able to act quickly to gain access to the United States for its crab meat exports? Who in Bureau of Fisheries and Aquatic Resources (BFAR) should be held responsible for the failure to comply with the US Marine Mammal Protection Act (MMPA)?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Deal Signed For Vietnam To Supply Rice To The Philippines

On the sidelines of the recent summit of the Association of Southeast Asian Nations (ASEAN), a new agreement was signed for Vietnam to supply the Philippines with 1.5 million metric tons of rice which will last until April 2027, according to a news report by the Manila Standard.

To put things in perspective, posted below is an excerpt from the Manila Standard report. Some parts in boldface…

The Philippines and Vietnam signed a new rice supply agreement on Thursday during high-level bilateral talks on the sidelines of the ASEAN Summit in Cebu City, as Manila moves to secure stable imports amid rising global uncertainties.

Department of Agriculture Secretary Francisco Tiu Laurel Jr. said the Philippines secured a one-year agreement for the supply of 1.5 million metric tons of rice from Vietnam, ensuring uninterrupted shipments through April 2027. The deal helps stabilize the domestic market against geopolitical risks and climate-related production threats.

“Securing import volumes until next April is crucial amid geopolitical uncertainties and climate risks,” Tiu Laurel said, noting that stable supply is essential to keeping rice prices manageable in the domestic market.

Both sides finalized pricing and logistics arrangements and agreed on a benchmark price of $450 per metric ton for the widely consumed DT8 rice variety. Vietnam remains the Philippines’ largest rice supplier and accounts for the bulk of the country’s imported grain requirements.

Tiu Laurel said Manila is prioritizing reliable supply channels as regional demand continues to rise, fueled partly by tensions in the Middle East and concerns over possible production disruptions from another El Niño episode. He added that Vietnam seeks a long-term trade framework covering rice and other agricultural commodities.

“Even the Vietnamese prime minister consistently highlighted this during the bilateral meeting,” Tiu Laurel said.

President Ferdinand Marcos Jr. and Vietnam Prime Minister Lê Minh Hưng pushed the deal during the latter’s first ASEAN Summit appearance in Cebu. The two leaders also commemorated the 50th anniversary of diplomatic relations between the 2 countries while discussing expanded cooperation in trade, tourism, agriculture and investment.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the new rice supply agreement between the Philippines and Vietnam ensures food security for the Filipino people? Have you ever tasted rice imported from Vietnam? Do you think the Philippines should focus more on harvesting a lot more local rice grain and support more domestic rice farmers to ensure a better internal supply?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Philippine Economic Growth Slows Down To 2.8% In 1st Quarter Of 2026

While the Philippines is hosting the summit of the Association of Southeast Asian Nations (ASEAN), the economy of the nation grew only 2.8% in the first quarter this year and it is the slowest growth in five years, according to a business news report by the Manila Bulletin.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…

The Philippine economy grew at its slowest pace in five years, expanding just 2.8 percent in the first quarter of 2026, as the country grapples with the persistent government spending slump and mounting inflation shocks.

The country’s economy, as measured by the gross domestic product (GDP), decelerated from the 3.0 percent expansion recorded in the final three months of 2025.

It also significantly missed the 3.4 percent median growth projected by economists in a survey, and marked the weakest quarterly output for the country since the first quarter of 2021, when the economy contracted 3.8 percent during pandemic-era lockdowns.

Growth was severely dragged down by a prolonged slump in public construction following a massive government flood-control scandal late last year, which has continued to stall state spending.

Moreover, the global energy shock triggered by the Middle East conflict in late February also sent domestic oil and input costs soaring, severely denting consumer and business confidence.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think heavy government spending will boost the economy somehow? Could it be possible that the Philippines could fall into a recession this year or next year? How do you rate the performance of the economic managers of the national government?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

LIVE: ASEAN leaders attend gala dinner

ASEAN leaders attend the gala dinner during the 48th ASEAN Leaders Summit in the Philippines’ central island of Cebu. #ASEANSummit #Philippines #Cebu #ASEAN2026 #live #Reuters #News Keep up with the latest news from around the world:

https://fllics.com/en/video/live-asean-leaders-attend-gala-dinner/

Four Suspects Arrested In Parañaque City For Stealing Telecom Cables

Recently in the City of Parañaque, local police officers arrested four suspects over the illegal cutting and the attempt to steal underground copper telecommunications cables, according to a news report by The Daily Tribune.

To put things in perspective, posted below is an excerpt from the news report of The Daily Tribune. Some parts in boldface…

National Capital Region Police Office (NCRPO) Chief P/Maj. Gen. Anthony Aberin commended the swift coordination between security personnel and responding police officers, which resulted in the prompt arrest of four adult male suspects and the recovery of stolen telecommunications equipment.

The incident occurred at around 4:20 a.m. on Friday, 24 April, in front of a gasoline station along Doña Soledad Avenue corner West Service Road, Barangay Don Bosco.

While conducting routine area monitoring, arresting officers intercepted the suspects in the act of illegally cutting and taking underground copper telecommunications cables.

Initial reports showed that security personnel in the area immediately alerted authorities upon noticing the suspicious activity, prompting a coordinated swift police response that resulted in the on-site arrest of four individuals. However, nine of their cohorts managed to flee and are currently the subject of follow-up operations.

Recovered from the scene were several pieces of cut underground copper cable wires measuring approximately two meters in length, with an estimated amount of P262,006.63.

Seized were tools and equipment used in the illegal activity, including a bolt cutter, an improvised steel hook, a white closed van and a motorcycle believed to have been used in the operation.

The suspects are now under police custody and are facing charges for violation of Section 4(d) of Republic Act 10515, also known as the Anti-Cable Television and Cable Internet Tapping Act of 2013.

Let me end this post by asking you readers: What do you think about this recent development? If you are a resident of Parañaque, did the cutting of the telecommunication cables affect your household somehow? Do you think Parañaque City is becoming a new hot spot for the stealing of telecommunication cables?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

ASEAN summit to go ahead in May, but shortened to ‘bare bones’ program due to Middle East conflict

https://fed.brid.gy/r/https://interaksyon.philstar.com/politics-issues/2026/03/27/311230/asean-summit-to-go-ahead-in-may-but-shortened-to-bare-bones-program-due-to-middle-east-conflict/

US and China say trade deal nearing completion

https://web.brid.gy/r/https://news.bomboradyo.com/us-and-china-say-trade-deal-nearing-completion/?utm_source=rss&utm_medium=rss&utm_campaign=us-and-china-say-trade-deal-nearing-completion

Marcos hits China’s Scarborough Shoal ‘nature reserve’ plans in ASEAN-US Summit

https://web.brid.gy/r/https://www.rappler.com/philippines/marcos-jr-china-scarborough-shoal-nature-reserve-asean-united-states-summit-2025/

US, China agree on trade framework ahead of leaders’ meeting

https://web.brid.gy/r/https://www.rappler.com/world/asia-pacific/united-states-china-trade-talks-asean-summit-sidelines-october-26-2025/

Trump in Asia for High-Stakes Tour: Xi Trade Talks, Possible Kim Summit

#ASEANSummit #Asiatour #DeclarationofThaiCambodianRelations #donaldtrump #XiJinping
https://blazetrends.com/trump-in-asia-for-high-stakes-tour-xi-trade-talks-possible-kim-summit/?fsp_sid=157392

Trump at ASEAN Summit: $240 Billion Malaysia Trade Deal, Security Top Agenda

#ASEANSummit #donaldtrump #Malaysia #security #trade
https://blazetrends.com/trump-at-asean-summit-240-billion-malaysia-trade-deal-security-top-agenda/?fsp_sid=156540

Trump aims to clinch deal with China’s Xi during Asia trip

https://web.brid.gy/r/https://www.rappler.com/world/us-canada/donald-trump-agenda-malaysia-japan-south-korea-trip-october-2025/

What to expect from Southeast Asian leaders’ summit as Trump attends

https://web.brid.gy/r/https://www.rappler.com/world/asia-pacific/explainer-issues-agenda-asean-summit-2025/

ASEAN to host Trump at summit as US and China seek to avert trade war escalation

https://web.brid.gy/r/https://www.rappler.com/world/asia-pacific/united-states-china-seek-avert-trade-war-escalation-asean-summit-2025/

Rapid KL To Extend Rail Operations For ASEAN Summit 2025 #aseansummit #bus #lrt #monorail #prasarana #publictransportation #rapidkl #transportation

https://www.lowyat.net/2025/352297/rapid-kl-extend-rail-operations-asean-summit-2025/

#Cambodia Prime Minister Hun Sen tests positive for #COVID19 at #G20Indonesia just days after hosting world leaders at #ASEANSummit.