ATF eyes unified visa, strategic plan rollout By Ma. Stella F. Arnaldo Special to the BusinessMirror
C
TOURISM Ministers from Myanmar, Lao PDR, South Korea, and Timor-Leste took part in the “Paglantaw” heritage tour, a half-day cultural tour hosted by the Department of Tourism during the Asean Tourism Forum 2026. The tour brought them and other Asean senior officials through the Cebu Heritage Quarter, the Magellan’s Cross, Basilica Minore del Sto. Niño, Fort San Pedro, the National Museum of the Philippines—Cebu, Casa Gorordo Museum, and Museo Sugbo. COURTESY OF DOT
ROTARY CLUB OF MANILA JOURNALISM AWARDS
2006 National Newspaper of the Year 2011 National Newspaper of the Year 2013 Business Newspaper of the Year 2017 Business Newspaper of the Year 2019 Business Newspaper of the Year 2021 Pro Patria Award PHILIPPINE STATISTICS AUTHORITY 2018 Data Champion
EBU CITY—Tourism ministers attending the Asean Tourism (ATF) will be pushing for the finalization and implementation of the Asean Tourism Strategic Plan (ATSP), which includes the possibility of developing a unified regional visa. Speaking with reporters on the sidelines of the Asean Travel Exchange (Travex) at the newly completed Mactan Expo Center (MEC), Tourism Secretary Christina Garcia Frasco said, “Through the ministerial meetings of the
Asean Tourism Forum, we are engaging in collaborative discussions for the launch and implementation of the Asean Tourism Strategic Plan, where Asean countries have identified the priority areas for tourism development.” The priority areas for the Philippines, she noted, include the “resilient tourism development of our tourism workers, improvement of its accessibility such as continued coordination and the creation of flights coming into the country, and the digitalization and the diversification of products, and sustainable tourism development.” She noted that ATF—running
from January 28 to 30 at the Nustar Convention Center—also provides its members a chance to push for a unified tourism destination. “The result of these meetings will ensure that development across the Asean is consistent with the priorities identified by our respective leaders,” she added.
Visitor demand from China
WITH the chairmanship of the Association of Southeast Asian Nations (Asean), President Ferdinand R. Marcos Jr. has pushed for collaboration across the region, “for benefits to be felt on the ground and across our Asean
communities. This is exactly what the ATF will bring to our communities in the Philippines, not just in Cebu, but in other destinations that will be touched by the meetings,” said Frasco. While she said she didn’t want to preempt her regional counterparts, the DOT chief said discussions will be held on prioritizing the “seamless accessibility such as visa-free access to the region.” In a related development, Frasco said discussions have been ongoing with the Department of Transportation and the country’s major carriers—Philippine Airlines and Cebu See “ATF,” A2
BusinessMirror A broader look at today’s business
EJAP JOURNALISM AWARDS
BUSINESS NEWS SOURCE OF THE YEAR
(2017, 2018, 2019, 2020, 2021) DEPARTMENT OF SCIENCE AND TECHNOLOGY
2018 BANTOG MEDIA AWARDS
DBCC LOWERS REVENUE TARGETS THROUGH ’28 www.businessmirror.com.ph
n
Thursday, January 29, 2026 Vol. 21 No. 109
P25.00 nationwide | 4 sections 32 pages | 7 DAYS A WEEK
By Reine Juvierre S. Alberto
T
@reine_alberto
HE country’s economic managers have further lowered the government’s revenue targets through 2028 on expectations of slower economic growth amid continued global uncertainty. The revised targets, tackled at the Cabinet-level Development Budget Coordination Committee’s (DBCC) December meeting—where economic managers reviewed and updated the government’s medium-term macroeconomic assumptions, growth targets, and fiscal program—were disclosed to reporters. For 2026, the government reduced the revenue target to P4.824 trillion, down by 3.19 percent from the previous target of P4.983 trillion in June 2025. As of November 2025, revenue collection of the government stood at P4.149 trillion, about 91.79 percent of the P4.520trillion full-year target. Meanwhile, the goal for 2027 was also reduced by 4.54 percent to P5.122 trillion from P5.366 trillion. For 2028, the target was down by 5.85 percent to P5.568 trillion from P5.914 trillion. The downward revisions followed the DBCC’s decision to lower the country’s gross domestic product (GDP) growth target to 5 to 6 percent for 2026, from the earlier 6 to 7 percent. “It is still that uncertainty faced globally that is impacting on us as well. We are an open economy to begin with,” Department of Economy, Planning and Development (DepDev) Secretary Arsenio M. Balisacan said in a press briefing, where he revealed that the DBCC had adjusted the targets earlier this month. The results of the meeting, however, are still not publicly available. “Globally, the pessimism in the trade and investment regime of many countries was not as bad as we thought it was last year, with the surprise sharp increases in tariffs initially by the US,” Balisacan said. Next year, the DBCC expects the economy to grow by 5.5 to 6.5 percent, lower than the previous 6 to 7 percent projection. The committee retained its GDP growth forecast of 6 to 7 percent for 2028. The DBCC is mandated to review and approve the macroeconomic targets, revenue projections, borrowing level, aggregate budget level and expenditure priorities, and to recommend to the Cabinet and the President the national government’s consolidated fiscal program.
FLAGGING OPPORTUNITIES: PHL LEADS ASEAN A staff member adjusts the flag of the Association of Southeast Asian Nations (Asean) in Cebu, Wednesday, January 28, 2026. The country’s role as Asean chair presents a key
opportunity to turn diplomatic leadership into economic benefits for citizens, said the Federation of Filipino Chinese Chambers of Commerce and Industry President Victor Lim. He highlighted that aligning regional initiatives with domestic development goals—covering poverty reduction, education, healthcare, infrastructure, and investment—can strengthen communities and drive sustainable growth. AP/JOEAL CALUPITAN
PHL STILL FUN, BUT FALLING IN GLOBAL INFLUENCE–INDEX By Bless Aubrey Ogerio
T
@blessogerio
HE country fell in the latest ranking of nations’ ability to shape international perceptions and influence behavior through attraction and persuasion rather than coercion, according to global brand valuation consultancy Brand Finance. The 2026 Global Soft Power Index (GSPI) showed that the country placed 54th globally with a score of 40 out of 100, down one spot from 53rd in 2025. Brand Finance noted that Soft Power is increasingly shaped by how a nation is experienced abroad, rather than just how it markets itself.
“Soft Power is increasingly shaped by how a nation is experienced, not just how it is presented,” Brand Finance Asia Pacific managing director Alex Haigh said in a statement. “The Philippines’s strong rankings for being a fun and friendly country show how tourism, entertainment, and everyday cultural familiarity can shape preference in ways some traditional metrics might miss,” he added. The country ranked 18th globally for “fun” and 22nd for being “friendly,” which reflected how positive social perceptions translate into cultural affinity and international engagement. It also rose in Culture and See “Influence,” A2
Myanmar, Asean’s focus in Cebu By Malou Talosig-Bartolome
C
EBU CITY—Southeast Asia’s foreign ministers convened in this southern Philippine hub ahead of schedule, immediately confronting the region’s most persistent challenge: Myanmar. The Asean Foreign Ministers’ Retreat, formally opening Wednesday at the NuStar Hotel, was originally slated for Thursday. But Philippine Foreign Affairs Secretary Ma. Theresa Lazaro— also serving as Asean’s Special Envoy to Myanmar—called her colleagues to an early meeting to brief them on her recent mission to Naypyidaw.
Myanmar Crisis Front and Center
SINCE Myanmar’s military seized power in February 2021, the country has been engulfed in armed conflict, mass displacement, and
humanitarian crises worsened by the Covid-19 pandemic. Asean has struggled to respond to Myanmar’s crisis, caught between its doctrine of non‑interference and growing pressure to enforce stability through the Five‑Point Consensus. Deputy Assistant Secretary Dominic Xavier “Dax” Imperial, spokesperson for Asean matters at the DFA, said ministers affirmed their commitment to the Five-Point Consensus (5PC) as the framework for engagement with Myanmar. “The discussions focused on reiterating the 5PC as the framework in addressing the situation in Myanmar,” Imperial said, noting that ministers exchanged candid views on Lazaro’s envoy work and possible next steps.
What is the Five-Point Consensus?
ADOPTED in April 2021, the 5PC
remains Asean’s central roadmap for resolving Myanmar’s crisis. It calls for: 1. Immediate cessation of violence in Myanmar 2. Constructive dialogue among all parties concerned 3. Appointment of a special envoy of the Asean Chair to facilitate mediation 4. Provision of humanitarian assistance through the Asean Coordinating Centre for Humanitarian Assistance (AHA Centre) 5. Special envoy’s visit to Myanmar to meet with all parties. Progress has been limited, with Myanmar’s junta accused of stalling implementation. Still, Asean ministers insist the consensus must remain the baseline for engagement. Imperial said Asean ministers welcomed Lazaro’s initiative to convene Myanmar stakeholders See “Myanmar,” A2
PESO EXCHANGE RATES n US 59.0780 n JAPAN 0.3882 n UK 81.8289 n HK 7.5749 n CHINA 8.4949 n SINGAPORE 46.8985 n AUSTRALIA 41.4196 n EU 71.1417 n KOREA 0.0412 n SAUDI ARABIA 15.7550 Source: BSP (January 28, 2026)