Philippines Defence Forum

[farhan_9909]

You must develop Philippines,

Yes there will be no comparision between China and PH GDP overall but you can compete with them in per capita income.China having 13times more population than you will always have a greater GDP than Philippines.But as earlier said the comparision should be between the per capita income.



All the best to philippines

 

[Pinoy]

Presidents Park Geun-hye and Benigno S. Aquino III of the Philippines watch Defense Minister Kim Kwan-jin (right) and the Philippines Defense Secretary Voltaire Gazmin sign a memorandum of understanding on bilateral defense cooperation at Cheong Wa Dae. (Yonhap News)



Korean companies to invest $1.7-B in PH

By Willard Cheng, ABS-CBN News
0/19/2013

SEOUL – At least two Korean companies confirmed commitments to invest in the Philippines, amounting to at least US$1.7 billion, following President Aquino's meetings with business leaders here.

Communications Secretary Sonny Coloma said the Korea Electric Power Corporation (KEPCO) is pushing through with its plan to build a new coal-fired power plant "that will produce at least 150 megawatts and to follow this up with a similar facility for a total additional capacity of 300 megawatts in Bataan."

"Other proposed power projects that are in the pipeline are as follows: Bislig, Surigao del Sur, 200 MW; Cadiz, Negros Occidental, 200 MW," Coloma said.

Estimated total cost of all three projects is pegged at US$700 million.

Top conglomerate Lotte also committed to build a 350-room hotel in Cebu "and to make other investments in confectionery, retail, real estate, and food manufacturing."

"Projects in pipeline are estimated to total US$ 1 billion over their projected completion in the next 5 years," Coloma said.

President Aquino urged Lotte to explore the possibility of investing in new tourist facilities in Palawan.

Hanjin and KEPCO offered to lease the facilities of the Bataan Nuclear Power Plant for new coal-fired power plants.

Coloma said, "President Aquino directed Energy Secretary Carlos Jericho Petilla to work out with the two companies alternative options on locating proposed new power plant facilities within the Bataan Nuclear Power Plant reservation. This is government's response to the two companies' offer to lease the BNPP facilities."

DEMOGRAPHIC SWEET SPOT

In meeting with Korean business executives, Aquino pointed out that the Philippines will enter a "demographic sweet spot" in 2015 when "the bulk" Filipinos reach working age and provide a pool of manpower for investors.

"In 2015, the Philippines will enter a demographic sweet spot, with the bulk of our people hitting working age-a professional, loyal, English-speaking work force that can surely contribute to the growth of investors. This situation, one that is conducive to business, will remain for the next 40 years," Aquino said in his speech before the Korean business community.

GDP per capita is expected to reach $6,000 by 2019, which is expected to boost the buying power of Filipinos.

"By 2019, we will enter another sweet spot: GDP per capita will hit around $6,000. This middle income sweet spot means a more empowered consumer base, as proven by other countries that hit an inflection point in the buying power of their citizens. Studies foresee that in the next fifteen years or so, four out of five Filipinos can hit middle class status if we continue on our current trajectory."

Korean companies to invest $1.7-B in PH | ABS-CBN News




BOP posts $465-M surplus in Sept
By Kathleen A. Martin (The Philippine Star) | Updated October 19, 2013

MANILA, Philippines - The country’s balance of payments (BOP) position reverted to a surplus in September amid the return of foreign portfolio and direct investments into the country, the Bangko Sentral ng Pilipinas (BSP) reported yesterday.

The country posted a surplus of $465 million in September, a turnaround from the $318-million deficit in August.

The latest surplus, however, was 38 percent lower than last year’s $751-million surplus.

“BOP position for September... (was) on account of continued inflow of foreign exchange from different sources particularly foreign portfolio and direct investments,” BSP Deputy Governor Diwa C. Guinigundo said in a text message.

“Data for exports, remittances and BPO (business process outsourcing) receipts are still not available although initial indicators show their continued strength,” he added.

“These inflows were supported by BSP investment income from abroad and NG (national government) deposits of FX (foreign exchange) with the BSP,” Guinigundo further said.

The BoP position summarizes a country’s transactions with the rest of world. This includes exports, imports, foreign direct and portfolio investments, other investments, and even remittances from Filipinos abroad.

A surplus means more funds went into the country, while a deficit means otherwise.

In the nine months to September, the country’s BoP surplus declined 34 percent to $3.824 billion from $5.831 billion a year ago.

The central bank expects a surplus of $4.4 billion in the country’s BOP for this year.

Guinigundo earlier said this projection is under review in light of latest developments that could affect financial markets globally.

BOP posts $465-M surplus in Sept | Business, News, The Philippine Star | philstar.com

 

[Pinoy]

President Benigno S. Aquino III addresses the Korean Business Community at the Grand Ballroom of the Grand Hyatt Hotel in Seoul during his State Visit to the Republic of Korea on Friday (October 18). Korea is one of the Philippines’ major investment and trade partners and remains the country’s top source of tourists



'Nothing stopping PH from growing at 7 pct'
By Cai U. Ordinario, BusinessMirror
10/18/2013

MANILA - Strong consumption spending will sustain the Philippines’s economic growth to around 7 percent this year and next year, according to local analysts.

In a briefing at the media launch of the 13th Pacific Region Investment Conference on Thursday, COL Financial Group Inc. Head of Research April Lee-Tan said there is “nothing stopping” the economy from posting a 7-percent growth this year, given the strong 7.6-percent growth in the first semester of 2013. Tan said she expects “more of the same” level of growth in 2014.

“We’re very positive in the economy, largely because of our huge consumer base. In the Philippines 70 percent of our GDP [gross domestic product] is consumption. The drivers remain intact,” Tan said.

Tan said these growth drivers include overseas Filipino worker (OFW) remittances, the strong business-process outsourcing sector and other new sources of consumption growth.

She said the increased availability of consumer credit, for one, would allow consumers to increase their spending for real estate, vehicles and other investments. The stable growth in auto sales, Tan said, could already be indicative of this phenomenon.

Tan also said that in light of recent disasters, there is a possibility that the spending allotted to rehabilitation efforts in earthquake-affected areas would boost growth in those areas and translate into higher Philippine GDP growth.

“Believe it or not, GDP actually picks up during times of calamities. During times of calamities, people are forced to spend and what is captured by GDP is the actual spending. What we are fortunate to have at this point is that the government is in a position to [spend],” Tan said.

Young peso

Apart from these short-term growth drivers, another key source of growth of the Philippine economy is its demographic dividend, Tan said. She noted that the average age of Filipinos is only 23 years old, which means a strong and steady supply of labor would keep the economy going for years to come.

Tan said this is one of the attractions of the Philippines to firms abroad and is one of the reasons the country remains a favored destination of outsourcing firms.

BDO Private Bank Wealth Advisory and Trust Group Senior Vice President Rafael Ayuste Jr. said apart from consumption, the younger population is also driving the growth in financial investments.

Ayuste said young Filipinos are now more investment-savvy and are aggressive when it comes to their investment portfolio. He attributes this to the perception that the younger generation believes it is “invincible” and this now translates into their investment decisions.

“They are more inquisitive and any additional information they need, they search online. They come up with very intelligent questions,” Ayuste said.

Overall, Ayuste said, Filipinos are now more investment-savvy and are now willing to invest for longer periods of time, longer than 10 years.

He attributes this to the increased financial education of Filipinos, that the management of financial institutions and even trusts are now being taught in school.

'Nothing stopping PH from growing at 7 pct' | ABS-CBN News

 

[Fsjal]

china took half a century again building a country's

From 1949 to 1959, China was going well, meaning it took 10 years for them to turn from an agriculture state to a heavy industrialized state, much more industrialized than Philippine today, and it only took 10 years.

Also, during the 1980's, the economy didn't grow fast, even when at that time, the economy was at it's best.

Like what I said, the Philippines can't have a 10% growth if we aren't industrialized enough.

 

[Apothecary]

From 1949 to 1959, China was going well, meaning it took 10 years for them to turn from an agriculture state to a heavy industrialized state, much more industrialized than Philippine today, and it only took 10 years.

Also, during the 1980's, the economy didn't grow fast, even when at that time, the economy was at it's best.

Like what I said, the Philippines can't have a 10% growth if we aren't industrialized enough.

You were once a taiwanese
You were once once a north korean
You were once a chinese
You were once an australian
And now you're a filipino?

What a sack of sh!t you are.

 

[Fsjal]

You were once a taiwanese
You were once once a north korean
You were once a chinese
You were once an australian
And now you're a filipino?

What a sack of sh!t you are.

Are you a bloody idiot?

I didn't even say I was Taiwanese. Why would I be those KMT b*stards?

Get your sack of dog sh?t out of here.

 

[p3avi8tor69]

Yeah win my azz shitty hired 50c troll. Moronic gibberish comment not worth answering and who the hell cares what you are thinking, you are just a nuisance for the Pinoys.

That is your response? God help you clown or should I say bay area gangster. Your choice of vocabulary betrays your ghettoness.

Your answer is a great illustration of your and your kind's intellectual deficiency. Grow some balls and counter the arguments point by point.

 

[p3avi8tor69]

Oh really then tell me what so factual about it? Then do you even know what trolling is? Oh right i forgot your one yourself of course you should know. Go back to your video games Admiral general from gameland

Yeah yeah yeah sure home slice.

I'm sorry but I do not see your country getting out of the middle income trap. You are corrupt to the core. Even with Aquino on the helm your senators and congressmen are robbing you blind. I just read numerous stories of elected senators conspiring with corrupt lobbyist stealing what you clowns call pork aid.

No wonder your college graduates are working as maids in Hong Kong and janitors and waiters in cruise lines. Blame your elected robber barons.

 

[Zero_wing]

Yeah yeah yeah sure home slice.

I'm sorry but I do not see your country getting out of the middle income trap. You are corrupt to the core. Even with Aquino on the helm your senators and congressmen are robbing you blind. I just read numerous stories of elected senators conspiring with corrupt lobbyist stealing what you clowns call pork aid.

No wonder your college graduates are working as maids in Hong Kong and janitors and waiters in cruise lines. Blame your elected robber barons.

blah blah nothing but more trolling go play your games because your ideas are just good for first person shooters and sim games

 

[Pinoy]

Billionaire Sy Faces Counterbid for Manila Bay Prime Real Estate

Ayala Land Inc. (ALI), the largest Philippine builder by market value, plans to counter billionaire Henry Sy’s offer to reclaim prime land along Manila Bay for development.

Ayala Land has asked the local government for an extension of the Nov. 4 deadline to submit competing bids, the Manila-based builder said in an e-mailed statement today. “This will confirm our interest to submit a counter proposal,” Ayala Land said.

Sy’s SM Land Inc., rivaling Ayala Land as the nation’s biggest developer, made an unsolicited offer of 54.5 billion pesos ($1.3 billion) to the Pasay City government this month for the 300-hectare (3 square kilometers) reclamation project. The offer comes amid scarcity of large plots for development in the area comprising the capital and its neighboring cities, known as Metropolitan Manila, which accounts for 36 percent of the $250 billion Philippine economy.

“It is a strategic move on the part of Ayala Land to counter the developments of SM,” Jomar Lacson, an analyst at Manila-based Campos Lanuza & Co., said by phone. “This project can further diversify Ayala Land’s products and market.”

The current deadline is “too short to develop a master plan, study its financial and environmental impact, and how to maximize the benefits to Pasay, the national government, and the public at large,” Ayala Land said.

Ayala Land was unchanged at 30.60 pesos as of 1:35 p.m. in Manila trading, taking its gain this year to 16 percent. SM Investments Corp. (SM), the parent of SM Land, climbed 1.4 percent to 857 pesos. SM Prime Holdings Inc. (SMPH), which will hold SM Investments’ property assets, rose 3.2 percent, headed for the biggest gain since Sept. 19.

Sy is the Philippines’ richest man, with a net worth of $14.2 billion, according to the Bloomberg Billionaires Index.

Billionaire Sy Faces Counterbid for Manila Bay Prime Real Estate - Bloomberg



Infrastructure spending surges by 38% to P170B
By Michelle V. Remo
Philippine Daily Inquirer
Tuesday, October 22nd, 2013

Government spending for infrastructure surged in the year to August, with officials reiterating the commitment to help the Philippines catch up with its neighbors in terms of quality of roads, bridges, irrigation systems and national highways.

The Department of Budget and Management reported Tuesday that disbursement for capital outlays and infrastructure hit P169.6 billion in January to August, up by 38.5 percent from that in the same period last year.

“Consistent improvements in our infrastructure and capital outlay disbursements are proof of the Aquino administration’s commitment to further expand the economy through strategic infrastructure investments,” Budget Secretary Florencio Abad said in a statement.

The amount spent so far in the year for infrastructure and capital outlays was used not only for road repairs and rehabilitation, but also for irrigation projects administered by the National Irrigation Administration (NIA).

But despite the increased spending, public infrastructure spending was estimated to be equivalent to just 2.5 percent of the country’s gross domestic product.

This is way below the average of 5 percent for Southeast Asia.

The low infrastructure spending-to-GDP ratio in the Philippines is partly blamed for the country’s difficulty in competing against its neighbors for foreign direct investments.

The estimated $2 billion in FDIs that went to the Philippines last year, for instance, was 10 times smaller than the over $20 billion in investments cornered by Indonesia.

The World Bank and the Asian Development Bank, two of the biggest foreign lenders to the Philippines, said the country needed to increase spending for public infrastructure to at least 5 percent of GDP to better compete for FDIs.

The Aquino administration has accepted the challenge and aims to hit the 5-percent ratio by the time its term ends in 2016.

“We are looking at speeding up our spending momentum for infrastructure and other key expenditures, in line with our goal of pushing infrastructure spending to 5 percent of GDP by 2016,” Abad said.

On a similar note, economist Felipe Medalla said the government was bent on hitting the 5-percent target regardless of whether tax collection rises as targeted.

Medalla, who represents the Bangko Sentral ng Pilipinas in the interagency Development Budget Coordination Committee (DBCC), said in a forum on Tuesday that deficit spending for infrastructure should not harm the economy because it positively impacts on investments.

Higher investments, in turn, should help increase overall income of the economy.

“Infrastructure spending should double relative to the size of the economy within the term of the Aquino administration. This is a plan agreed upon by the DBCC regardless of what happens to tax collection by the BIR [Bureau of Internal Revenue],” Medalla said.

 

[Pinoy]

PH says gas from disputed field should be used domestically
by Rosemarie Francisco and Manny Mogato, Reuters
10/23/2013

MANILA - The Philippines will insist that any gas produced from an offshore field a unit of Philex Petroleum Corp hopes to develop with China's CNOOC Ltd be used domestically, a senior energy official said on Wednesday.

London-listed Forum Energy Plc a unit of Philex, is holding talks with CNOOC, the Hong Kong-listed unit of China National Offshore Oil Company, for a possible joint venture to explore for oil and gas reserves in an area of the disputed South China Sea, a deal that may later lead to a production agreement, Energy Secretary Jericho Petilla said.

Service Contract 72 in the Reed Bank holds the Sampaguita field, which is estimated to have 20 trillion cubic feet of natural gas, dwarfing Malampaya, the Philippines' current sole gas producer with only about 2.7 tcf of gas.

"What I know is they are having regular meetings, that's the way to move forward," Petilla told reporters. "Certainly, we will not agree that it (the gas) will be sold elsewhere when we actually need it," he said.

Manila needs to find a replacement for the natural gas produced in the Malampaya field, which is expected to operate only until 2024, Petilla said.

Any deal would have to be reviewed by government lawyers, but Manila is open to an ownership structure of SC 72 similar to that of Malampaya, he said.

Malampaya is 90 percent owned by a consortium led by Shell Philippines Exploration B.V. of Royal Dutch Shell Plc and 10 percent held by a state agency.

China says it owns the Reed Bank, but SC 72 falls within the Philippines' 200-mile exclusive economic zone (EEZ), with Manila insisting on sole sovereignty over the waters.

"We maintain that the area that Forum Energy is exploring is clearly within our EEZ and therefore any exploitation of the same has to be in conformity with our laws," Philippine President Benigno Aquino said in a forum with foreign press.

Forum approached CNOOC as early as last year for an agreement on a joint exploration venture so that the gas resources in the SC 72 block could be developed despite the sovereignty dispute.

Forum Energy has extended its drilling programme for SC 72 by two years to August 2015 due to the territorial dispute.

Forum had earlier disclosed plans to conduct a survey to identify and evaluate other gas prospects near the Sampaguita gas field and the Reed Bank, despite problems with previous survey and drilling attempts due the diplomatic wrangling between Manila and Beijing.

When asked about how sovereignty issues raised by China and the Philippines over the waters weigh on the discussions between Forum and CNOOC, Petilla said: "Those are the governments, I'm hopeful of the commercial (talks)."

There was no immediate reply from Forum Energy when asked about the talks.

http://www.abs-cbnnews.com/business/10/23/13/ph-says-gas-disputed-field-should-be-used-domestically

 

[Pinoy]

Phl eyes frigates from India
(The Philippine Star) | October 23, 2013

Photo of Indian Navy's stealth frigate INS Satpura.

MANILA, Philippines - The Philippines, which is beefing up its defense capability, is considering the procurement of naval frigates from India.

Philippine officials discussed this the other day with a visiting delegation from India led by External Affairs Minister Salman Khurshid.

India has intensified its engagement with the Association of Southeast Asian Nations as part of its “Look East” policy in the past decade.

Khurshid, who met yesterday with Vice President Jejomar Binay, said the relationship between the two countries is “extremely important.”

“Now is the time to begin a new chapter,” Khurshid said yesterday over lunch with Filipino officials as he emphasized the two countries’ “shared aspirations and shared attitudes.”

The Philippines is eyeing the procurement of two frigates from India, a nuclear power with its own military shipbuilding capability.

India has built its own stealth-capable warship, which visited Manila several months ago. The Indians are developing their first aircraft carrier and will acquire one soon from Russia.

Like the Philippines, India has a territorial dispute with its neighbor China. Khurshid told The STAR yesterday that his government was pursuing engagement with the Chinese.

The other day, Khurshid and his delegation met separately with Foreign Affairs Secretary Albert del Rosario and Philippine security officials.

Khurshid, who proceeded to Manila from meetings in Brazil, leaves for Singapore today.

The Philippines is currently finalizing the procurement of fighter jets from South Korea.

Not connected with territorial row

The defense department maintained yesterday that the acquisition of fighter jets from South Korea has nothing to do with the territorial row in the West Philippine Sea.

“This has been planned even before the developments in the West Philippine Sea,” defense department spokesman Peter Galvez said in a phone interview.

Galvez was asked for a reaction after a Japanese paper reported on Monday that China had asked South Korea not to sell FA-50 jets to the country.

Galvez declined to comment on the report itself but said the military’s upgrade efforts are not related to the territorial row with China.

The defense department previously said that the lead-in fighter jets acquisition project would boost the territorial defense capabilities of the country.

Officials, however, stressed that the modernization program is not directed toward any country. – With Alexis Romero

Phl eyes frigates from India | Headlines, News, The Philippine Star | philstar.com

 

[Pinoy]

India, Philippines set to upgrade ties, reinvigorate relations
Oct 23, 2013

Manila, Oct 22 (IANS) India and the Philippines have set aside years of limited contact and are going to work towards a full and comprehensive upgrade of their bilateral relations which will be manifest in the visit of Indian President Pranab Mukherjee to this country in 2014.

In what was described as an “exceptional meeting” between Indian External Affairs Minister Salman Khurshid and Secretary of the Philippines’ Department of Foreign Affairs Albert del Rosario here Monday, the two countries agreed to take their ties to a substantially higher level.

The two country have decided to upgrade their military relations and have the second meeting of the Philippines-India Joint Defence Cooperation Committee (JDCC) in New Delhi as early as next month, a joint statement issued after the talks said.

The second meeting of the India-Philippines Joint Commission on Bilateral Cooperation had comprehensive discussions on political, defence, security, economic and cultural cooperation between the two countries. Both sides committed to increasing bilateral trade and investment and maximising the potential on offer.

According to a joint statement issued after the meeting, it was decided that the two countries would work to fully maximize the potential of the Joint Working Group on Trade and Investment. Khurshid welcomed the Philippines’ facilitation in the expansion of Indian investments in this Southeast Asian nation in different sectors, particularly textiles and garments, pharmaceuticals, agribusiness, tourism, renewable energy and automotive parts.

Given the phenomenal growth and symbiotic relationship of Indian and Philippine information technology-enabled services (ITeS) companies, both sides committed to conclude at the earliest a proposed memorandum of understanding in information and communications technology (ICT).

Regarding terrorism, both sides affirmed their condemnation of this global scourge in all its forms and manifestations and reiterated their commitment to expand and deepen cooperation in counter-terrorism. The two countries decided to convene a joint working group on counter terrorism, in New Delhi next year to discuss all issues related to terrorism and other transnational crimes.

Both sides also agreed to start negotiations on a mutual legal assistance treaty in criminal matters (MLAT) in December this year and consider a transfer of sentenced persons agreement (TSP).

Del Rosario also committed to push for the immediate ratification of a Philippines-India extradition treaty.

They also committed to increase exchanges in military training and education. The two sides agreed to step up cooperation in combating non-traditional threats through exchange of experiences and capacity building in areas like disaster management, food security and pandemics.

The Philippines side welcomed the cash support of $100,000 provided by India side for disaster relief following the recent devastating earthquake in that country.

“Secretary Del Rosario also briefed Minister Khurshid on the developments in the West Philippine Sea. Minister Khurshid expressed support for a peaceful resolution of the West Philippine Sea/South China Sea dispute consistent with freedom of navigation and the rule of law,” the statement said.

Del Rosario reiterated the invitation of the Philippines’ President Benigno S. Aquino to Indian President Pranab Mukherjee and Prime Minister Manmohan Singh to visit this country. Welcoming the invitations, Khurshid said that President Mukherjee looked forward looked forward to his visit to the Philippines in 2014.

“Given that personal equations matter in such issues, both Khurshid and Del Rosario hit it off like old friends to start a new chapter in bilateral relations,” Indian Ambassador Amit Dasgupta told IANS.

Read more at: India, Philippines set to upgrade ties, reinvigorate relations | Firstpost

 

[Cossack25A1]

Old news but this is the only thread about PH navy, thus this is the latest news about the PH military

-----

Korea Navy Donates Pohang-Class Corvette to Philippine Navy >> Naval Today

The Republic of Korea Navy (ROKN) will decommission a Pohang-class corvette (PCC) by year end for donation to the Philippine Navy, yet another sign of the two countries’ growing defense cooperation, according to the Philippine Embassy in Seoul.

Defense Secretary Voltaire T. Gazmin said the warship follows the acceptance by the Armed Forces of the Philippines of an earlier ROKN donation of a landing craft utility and 16 rubber boats.

Secretary Gazmin, who was on official visit to South Korea from May 29 to 31, was accompanied by the new Philippine Ambassador to South Korea Raul S Hernandez.

South Korean Defense Minister Kim Kwang-jin remarked at the start of the meeting at the Ministry of National Defense in Seoul’s Yonsan-gu that Secretary Gazmin is the defense secretary he has met with the most.

 

[Cossack25A1]

South Korean firm sole bidder in DND’s assault vehicle deal | Headlines, News, The Philippine Star | philstar.com

South Korean firm sole bidder in DND’s assault vehicle deal

MANILA, Philippines - Only one company joined last week’s bidding for the purchase of eight brand new amphibious assault vehicles worth P2.5 billion for the Marines.

South Korean firm Samsung Techwin offered to supply the vehicles for P2.42 billion, lower by P76.5 million than the approved budget.

The Department of National Defense (DND) Bids and Awards Committee has declared the company as the “single calculated bidder” for the project.

However, Samsung Techwin cannot be declared the winning bidder until it hurdles the post-qualification phase to determine whether the supplier is capable of undertaking the project.

If Samsung Techwin wins the bidding, it is required to deliver the vehicles within 910 days upon opening of the letter of credit, which assures the supplier that the government will fulfill its obligations.

The bidding held last May 15 was the second time that the DND tried to look for suppliers for the vehicles.

The first bidding was held last November, but it failed because it did not attract any offer.

At that time, Samsung Techwin bought bid documents but did not submit an offer.

The amphibious assault vehicle acquisition project is one of the items to be bankrolled by the Revised Armed Forces Modernization Program contained in a law signed by President Aquino in 2012.

------

I would prefer BMP-3 armed with 30mm cannon for troop transport and 100mm cannon-armed version for anti-tank/amphibious fire support over the AAVP as the PH Marine Corps lacks fire power and the only "anti-tank" vehicle the Marine Corps has is the LAV-300 armed with 90mm gun and a "re-activated" LVTH-6.