‘Local, regional woes may stymie FDI’ T
HE volatile geopolitical situation in the region as well as domestic political issues could prevent the Philippines from attracting more foreign businessmen to invest in the country. Jonathan Ravelas, senior adviser at professional services firm Reyes Tacandong & Co., said this has already become evident in the latest Foreign Direct Investment (FDI) inflow data released by the Bangko Sentral ng Pilipinas (BSP) on Wednesday. The BSP reported that FDI inflows contracted 23.8 percent to $3.4 billion in January to June 2025. The data also showed FDI inflows declined 17.8 percent to
WORLD » A8
NEPALESE ARMY DEPLOYED AS PROTESTS OVER SOCIAL MEDIA BAN, CORRUPTION TURN VIOLENT
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$376 million in June 2025. “Yes, the United States tariffs hurt—especially our manufacturing sector—but it’s also about weak global trade and our own policy gaps,” Ravelas said. “The sharp drop in foreign direct investments is a wake-up call. Investors are watching how we respond.” Ravelas told BusinessMirror in a phone interview that recent events in Indonesia and Nepal are among the issues that could also discourage investors from investing in the region, including the Philippines. Recent reports from Bloomberg said the violent protests over jobs and wages in Indonesia have left three
people dead and dozens of public facilities destroyed. (See: https://businessmirror.com.ph/2025/08/31/ indonesian-president-prabowoscraps-china-summit-trip-afterdeadly-protests/). In Nepal, protesters also “set fire to homes of some of Nepal’s top political leaders in opposition to a social media ban that was lifted a day after the deadly anti-government protests.” (See: https://businessmirror.com. ph/2025/09/09/protesters-innepal-attack-homes-of-political-leaders-over-social-mediaban-and-corruption/). “If we don’t fix logistics, clarify
rules, and build confidence, this could turn into a trend. But there’s still time to turn things around,” Ravelas said. “They will stay at the sidelines and wait for clarity.” BSP data showed that the slowdown in FDI net inflows during the month reflected the shift in nonresidents’ net investments in equity capital (other than reinvestment of earnings) to $57 million outflows from $85 million inflows. However, the reduction was partly offset by a 36.7-percent increase in reinvestment of earnings, rising to $128 million from $94 million. Further, BSP said nonresidents’ net See “Local,” A2
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Thursday, September 11, 2025 Vol. 20 No. 333
P25.00 nationwide | 2 sections 24 pages | 7 DAYS A WEEK
By Cai U. Ordinario
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@caiordinario
ILIPINO workers—and their jobs— are not disasterproof as extreme weather events led to significant job losses in July, according to the national government and local economists. Typhoons and the floods that ensued as a consequence led to an increase in the number of jobless Filipinos to 2.59 million in July 2025. (See: https://businessmirror.com. ph/2025/09/10/more-pinoys-jobless-in-july-psa/). Typhoons were also to blame for the increase in underemployment, which reached 6.8 million, and the 1.42-million decline in Labor Force Participation to 48.64 million, National Statistician Claire Dennis S. Mapa told reporters. “What happened in the July round, first, many areas of our country were hit by typhoons; this is what we really saw as the main reason for the decline See “Typhoons,” A2
WASHED-OUT WORKS Public Works Secretary Vince Dizon inspects a flood control project in Naujan, Oriental Mindoro, with Governor Humerlito “Bonz” Dolor amid a widening probe into alleged ghost and substandard infrastructure works.
Dizon said the Department of Public Works and Highways (DPWH) has received nearly 100 complaints and reports pointing to a “pattern” of irregularities—from fast-tracked bidding and notices to proceed to the immediate release of payments. The investigation, ordered by President Ferdinand Marcos Jr., aims to hold DPWH officials and contractors accountable. PHOTOS COURTESY OF DPWH
CONSTRUCTION JOBS DIPPING, WORSE SEEN AMID F.C.P. PROBE By Justine Xyrah Garcia
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MEGAWORLD’S HOTEL GROUP BAGS DOT’S TOURISM INDUSTRY EXCELLENCE AWARD Setting a new milestone in the Philippine tourism sector, Megaworld Hotels & Resorts was honored by the Department of Tourism with its inaugural Tourism Industry Excellence Award—making it the first and only hospitality group to earn this recognition. The award highlights its stature as the Philippines’s largest hotel operator and its distinction as the country’s first Muslim-friendly hotel chain as certified by Crescent Rating. The group was also commended for championing Filipino culture and enriching guest experiences through its pioneering Sampaguita Project, which uses the Philippine national flower in its guests’ experiences and hotel touchpoints. Receiving the award from DOT Secretary Christina Frasco (center), along with DOT Undersecretaries Verna Esmeralda Buensuceso and Maria Rica Bueno, were Megaworld Hotels & Resorts Group GM Arturo Boncato, Jr. (second from left) and Managing Director Cleofe Albiso (second from right). MEGAWORLD
HE decline in construction employment could worsen in the coming months as the government’s ongoing investigation into flood control projects (FCP) disrupts infrastructure works, labor experts warned on Wednesday. Results from the July 2025 Labor Force Survey (LFS) conducted by the Philippine Statistics Authority (PSA) showed construction jobs dropped by 206,000 quarter-on-quarter. The sector, which has been a driver of employment, also shed 147,000 jobs compared to the same period last year. Ateneo de Manila University
economist Leonardo A. Lanzona Jr. explained that declines in construction jobs are not unusual since the industry is largely seasonal and project-based. “Many construction workers are hired on short-term contracts tied to specific projects. When a project stops or gets cancelled due to typhoon damage, these temporary contracts simply aren’t renewed,” he told the BusinessMirror. However, Lanzona pointed out, the current probe on flood control projects could aggravate these normal fluctuations. “The ongoing investigations will even make these jobs more precarious. Government should See “Construction,” A12
Low imports, global oil price dull BOC’s Aug take By Reine Juvierre S. Alberto
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@reine_alberto
HE reduced import volumes and sustained drop in global oil prices dampened revenues of the Bureau of Customs (BOC) in August. Preliminary data from the BOC showed it collected P78.517 billion last month, just 0.01 percent or P5 million lower than the P78.521 billion recorded in August last year. According to the bureau, the decline in revenues it collected last month “is a direct consequence of reduced import volumes and continued decline in global oil prices, which significantly undermined the BOC’s revenue-generating capacity.” “These external economic pres-
sures have been further compounded by operational disruptions caused by holidays and work suspensions due to inclement weather, which collectively contributed to the downturn in collections,” it added. Month-on-month, the BOC’s collection declined by 7.8 percent from the P85.180 billion posted in July 2025. Customs Assistant Commissioner Vincent Philip C. Maronilla told the BusinessMirror last Wednesday that the BOC had “a little shortfall” in its collections due to lower import volumes and with August being tagged as “Ghost Month.” During the so-called “Ghost Month,” many people refrain from starting new businesses or making See “Low,” A5
PESO EXCHANGE RATES n US 56.8040 n JAPAN 0.3855 n UK 76.8615 n HK 7.2931 n CHINA 7.9725 n SINGAPORE 44.3020 n AUSTRALIA 37.3657 n EU 66.5288 n KOREA 0.0409 n SAUDI ARABIA 15.1413 Source: BSP (September 10, 2025)