2025 growth seen at 6% on CREATE MORE impact
Tailwinds from rate cuts and the impact of the recently passed CREATE to Maximize Opportunities for Reinvigorating the Economy (Create More) law will boost the economy’s growth next year.

BIR issues revised roadmap for digital transformation
The BIR said that it revised its digitalization roadmap for 2025-2028, which now consists of 27 digital transformation projects. The Digital Transformation (DX) roadmap outlines plans for integrating new technologies and addressing future challenges, the BIR said in a revenue memorandum dated Nov. 5.

Sustained reforms needed even after exit from ‘gray list’ — AMLC
The Philippines is expected to finally exit the Financial Action Task Force’s (FATF) “gray list” by February, the Anti-Money Laundering Council (AMLC) said, but continued reforms will be crucial to ensure the country stays out of the dirty money watchlist.

Philippines seeks stronger economic ties with Sweden
The Philippines is seeking enhanced cooperation and investment opportunities with Sweden. Finance Secretary Ralph Recto recently met with Swedish Ambassador Harald Fries to discuss the country’s economic prospects and explore further cooperation with Swedish investors.

Growth in RE supply highest in PH, but capacity lags
The Philippines’ renewable energy capacity target by 2030 reflects the highest growth rate in Southeast Asia, according to a study by the IEA. The Southeast Asia Energy Outlook 2024 report, however, said the Philippines RE capacity by 2030 is only the third highest among the countries in the region.

Industry-led economy key to inclusive growth
The Philippines should focus more on manufacturing and shift from a consumer-driven to an industry-led economy, an expert said.

External debt payments down by 3.8% at end-Aug.
The Philippines’ external debt service burden fell at the end of August as principal payments declined, preliminary data from the central bank showed.

Philippines calls for $1.3-T COP29 climate finance goal
THE Department of Finance (DoF) said it is pushing for an initial climate finance target of $1.3 trillion from wealthy nations to fund developing nations’ climate mitigation projects.

EU support help digitize BuCor inmates' records
The digitization of the records of the Bureau of Corrections (BuCOR) inmates has been completed, the European Union (EU) announced on Monday. More than 50,000 individual paper dossiers or carpetas were digitized with the support of the EU’s Governance in Justice (EU-GOJUST) programme together with the Department of Justice.

NAIA airline reshuffle takes off in early 2025
The NAIA will undergo another round of airline reshuffle in the first quarter of 2025 as part of efforts to decongest passenger traffic in select terminals. NAIA operator NNIC plans to move Cebu Pacific’s domestic flights to Terminal 2 in the first quarter next year to finally make Terminal 3 an international hub.

Consumption growth in PH seen to hit 5.5% in Q4 2024
Consumption in the Philippines is expected to recover during the remaining months of 2024, with its bottom point already reached early this year, boding well for business revenues and the country’s overall economy.

Vehicle sales grew 1.2% in October, slowest in 2024
Local sales of automotive vehicles grew at its slowest pace so far this year in October at 1.2 percent, data from industry sources showed. According to a report released by the CAMPI and the Truck Manufacturers Association, units sold in the month only reached 40,003, slightly up from 39,542 units in September.

PHL renewables project pipeline leads region, but commitment to gas signals long transition — CEED
The Philippines has the strongest renewable energy (RE) project pipeline in Southeast Asia, according to a report, though banks’ appetite for financing gas and coal-fired projects remains strong.

Higher localization of parts in automotive pushed
The Board of Investments (BOI) is eyeing to increase the localization of automotive manufacturing by encouraging investments in parts making. Ronaldo Buluran, BOI assistant director, said the agency is hosting the Auto Reverse Trade Fair (ARTF) on November 19 in Manila aimed at connecting local motor vehicle parts manufacturers with automotive, motorcycle, and electric vehicle producers and assemblers.

Music tourism unlocks more opportunities for Philippine travel sector
The Philippine music event market is projected to hit $83.6 million this year and grow by 3.9% annually to $97.5 million by 2028, according to German online data platform Statista.

PH, Lao PDR to sign agriculture cooperation deal
The Philippines and Lao PDR have agreed to revitalize collaboration on agriculture. Department of Agriculture (DA) Secretary Francisco Tiu Laurel Jr. held a bilateral meeting with Lao PDR’s Minister of Agriculture and Forestry, Linkham Douangsavanh at the World Food Forum in Rome, Italy on October 14 where they discussed the possibility of signing an MOU aimed at enhancing food security and promoting sustainable agricultural development.

Air passenger volume up 21% in first 9 months — CAB
Air passenger volume jumped by 21% in the first nine months, as international travelers surged by 40%, according to the Civil Aeronautics Board (CAB). Data from CAB showed that overall passenger volume grew by 21.2% to 44.09 million for the January-to-September period.

Bidding process for Davao airport operator may start next year — DoTr
The Department of Transportation (DoTr) is eyeing to start the process of selecting a company to manage and operate the Davao International Airport in the first half of 2025, the Transport chief said. Transportation Secretary Jaime J. Bautista told reporters that they are currently working on the terms of reference to fast track the project with International Finance Corp. (IFC).

Rice traders capturing benefits of low tariffs — FFF
Importers are cornering much of the value from the lowering of rice tariffs, with prices not falling as much as they should have, a farmers’ federation said. This is in effect of the government-sanctioned lowered rice import tariffs via executive order in June to 15% from 35% until 2028, touting it as an inflation-containment measure to pass on the tariff savings to consumers.

LRT-1 Cavite extension first phase opens, more to come—JICA
More commuters traversing Quezon City up north and Parañaque City down south will enjoy shorter travel time, thanks to the first phase of the Light Rail Transit-Line 1 (LRT-1) Cavite extension, according to the Philippine office of the Japan International Cooperation Agency (JICA).

NNIC working to clear way for new terminal with hotel demolition in 2025
San Miguel-LED New NAIA Infra Corp. (NNIC) plans to resolve all issues to demolish the abandoned Philippine Village Hotel beside the Ninoy Aquino International Airport (NAIA) by next year to make way for a new terminal, a company official said.

PPP eyed for Mindanao rail after China pullout
The Department of Transportation (DoTr) is considering enlisting the private sector for the Mindanao railway project as the government scrambles to put together funding after China bowed out of the project. Mr. Bautista said the government is still considering official development assistance (ODA) for the project, but it is now leaning towards a PPP arrangement.

PHL banks to start interest rate swaps
The enhanced Peso interest rate swap market is set to open on Monday (Nov. 18), a move the Bangko Sentral ng Pilipinas (BSP) said will mark a “significant step toward boosting trading and liquidity in the domestic bond market.”

PSEi may decline on weaker peso, Trump victory
Philippine stocks are expected to decline this week amid a weak peso and negative market sentiment about incoming US President Donald Trump’s protectionist stance. The Stock market could fall due to economic headwinds, Japhet Louis O. Tantiangco, senior research analyst at Philstocks Financial, Inc., said in a Viber message.

Poe: P21B allotted for disaster relief in 2025 budget
Sen. Grace Poe, chairperson of the Committee on Finance, yesterday said an allocation of P21 billion is set aside for disaster relief in the proposed P6.352 trillion national budget for 2025. Poe said the amount is intended to reinforce the Executive’s calamity funds to bring fast and timely relief to communities affected by calamities.

BDO Capital Sees Opportunities in Growing PH Energy Investments
During the 19th Philippine Summit hosted by The Asset, BDO Capital & Investment Corporation President Eduardo F. Francisco emphasized the immense potential of the Philippine economy to grow through strategic investments in infrastructure, particularly in the energy sector.

PH gains access to Japan’s Hass avocado market
After 13 years, the Philippines has finally gained access to Japan’s lucrative market for Hass avocados. Glenn Panganiban, director of the Bureau of Plant Industry said, the inclusion of Hass avocados in the Philippine export portfolio to Japan, which includes bananas and pineapples, is the culmination of over a decade of effort, with initial access requests dating back to 2011. In 2023, the Philippines exported $1.1 billion worth of agri-fisheries products to Japan, generating a trade surplus of $990 million.

Philippines, United States to sign military intelligence-sharing deal
The Philippines and the United States will sign on Monday a military intelligence-sharing deal, Manila’s defence ministry said, in a further deepening of security ties between the two defence treaty allies. Called the General Security of Military Information Agreement or GSOMIA, the pact allows both countries to share military information securely.

Wage board approves pay hike for Eastern Visayas workers
More than 183,000 minimum wage earners and domestic help in Eastern Visayas are set to receive an increase in their salaries starting next month. In a statement released on Friday, the labor department said the Eastern Visayas Regional Tripartite Wages and Productivity Board would implement a two-tiered P15 minimum wage increase for workers across all sectors under Wage Order RB VIII-24.

Casinos may lead Philippines IPO revival in 2025, top bank says
Two Philippine casinos may revive initial public offering plans next year along with infrastructure and food companies, executives at the nation’s biggest bank said, offering hopes for a sluggish stock market that’s been hit by a dearth of listings.

Pag-IBIG: Lowering rates on housing loans needs balance
The Home Development Mutual Fund, commonly known as Pag-IBIG Fund, is keen on lowering interest rates on its housing loans but such a move would need to balance the interests of non-borrowers to ensure fairness and fund sustainability.

Peso may sink to P59 per dollar level anew
The Philippine peso could return to the P59-per-dollar level this year, as the US dollar continues to strengthen, analysts said. Given the incoming Trump administration’s proposals to hike tariffs and impose stricter immigration policies, a move to P59 looks likely, especially with rate cut expectations by the BSP.

GBonds seen to boost retail investor participation
The Treasury’s plan to offer government securities on electronic wallet platform GCash could attract more small retail investors, analysts said. However, analysts mention the need for the platform to be secure, reliable, and cost-efficient to enable Filipinos to participate in the financial markets.

PEZA registers 3 new locators in Cebu, Makati, Batangas economic zones
Three new economic zone enterprises investing a combined P98 million registered with the Philippine Economic Zone Authority (PEZA) last week, the regulator said. In a statement on Monday, PEZA said that the new registered business enterprises are involved in sustainable energy, advanced manufacturing, and information technology (IT) services.

DMCI Homes eyes P30B from Kalea, plans more Cebu projects
DMCI Homes, Inc. expects its four-tower project, Kalea Heights, in Cebu City to generate around P30 billion in revenue, the Consunji-led developer said. This project is DMCI Homes’ first venture into Cebu’s real estate market, with a total investment of around P24 billion.

Balamban solar facility among 3 new economic zones approved
A solar facility in Balamban town, western Cebu was among the three newly approved economic zones. The Philippine Economic Zone Authority (Peza) on Monday said it had approved the registration of three new economic zones, additionally in Enterprise Center, Makati and in Santo Tomas, Batangas, that are expected to create around 600 fresh jobs.

P&G biz hub in PH expands
The global in-house center of Procter & Gamble (P&G) located in the Philippines has expanded the scope of its operations and has grown its employee headcount. P&G Philippines Business Services Inc. (PGPBS) in a statement said it now employs over 1,900 Filipinos and now supports critical operational areas across Asia, Central and Eastern Europe, the Middle East, Africa, and North and South America.