{"id":11540,"date":"2017-01-01T12:00:41","date_gmt":"2017-01-01T04:00:41","guid":{"rendered":"http:\/\/primer.com.ph\/blog\/?p=11540"},"modified":"2017-01-04T10:32:18","modified_gmt":"2017-01-04T02:32:18","slug":"its-the-philippines-year-fortune-magazine","status":"publish","type":"post","link":"https:\/\/primer.com.ph\/blog\/2017\/01\/01\/its-the-philippines-year-fortune-magazine\/","title":{"rendered":"&#8216;It&#8217;s the Philippines&#8217; year&#8217; \u2014 Fortune Magazine"},"content":{"rendered":"<p><strong><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-11541\" src=\"https:\/\/primer.com.ph\/blog\/wp-content\/uploads\/sites\/14\/2016\/12\/Capture.png\" alt=\"capture\" width=\"863\" height=\"412\" srcset=\"https:\/\/primer.com.ph\/blog\/wp-content\/uploads\/sites\/14\/2016\/12\/Capture.png 1015w, https:\/\/primer.com.ph\/blog\/wp-content\/uploads\/sites\/14\/2016\/12\/Capture-300x143.png 300w, https:\/\/primer.com.ph\/blog\/wp-content\/uploads\/sites\/14\/2016\/12\/Capture-768x367.png 768w\" sizes=\"auto, (max-width: 863px) 100vw, 863px\" \/><\/strong><\/p>\n<p>Multinational business magazine <em>Fortune<\/em>, in its December 1 issue, predicts that 2017 will be the Philippines\u2019 year. The magazine reported that although President Rodrigo Duterte\u2019s stance on vigilantism and anti-Americanism is worrying, the country\u2019s economy has been hitting its stride.<\/p>\n<p>\u201cEconomists expect Philippine GDP to grow 6.2% next year. One clue to a looming boom: an analysis by IBM Watson of some 700,000 global news sources found a high concentration of mentions of infrastructure investment linked to the country,\u201d the report said.<\/p>\n<p>In response to this, the Department of Trade and Industry (DTI) released its report on the plans and the steps that that Duterte administration is to take to make sure that they will be able to further improve the country\u2019s economy. In the coming year alone, the agency stated that they have allotted P8.2 trillion to P9 trillion to fulfill its goal to have the \u201cGolden Age of Infrastructure.\u201d They also announced the following:<\/p>\n<ul>\n<li>The Philippine government can register 8 percent annual economic growth by year 2022.<\/li>\n<li>NEDA has already approved 18 public infrastructure projects.<\/li>\n<li>The Duterte administration plans to build a new 600-kilometer train system from Tutuban in downtown Manila through Albay to Sorsogon province in the Bicol region, with estimated construction costs of US$250 million to $300 million to be completed in four to five years.<\/li>\n<li>Infrastructure construction projects will be undertaken by the Duterte administration 24\/7. Duterte described it as \u201cnon-stop and full-speed.\u201d<\/li>\n<li>The infrastructure budget for 2017 will be P861 billion.<\/li>\n<\/ul>\n<p>DTI also reported about the initiative of Sen. Loren Legarda to have 20 senators ratify the country to be one of the founding members of the China-led Asia Infrastructure Investment Bank (AIIB). Some of the country\u2019s AIIB membership benefits are the following:<\/p>\n<ul>\n<li>It\u2019s an additional source of financing to implement better and resilient infrastructure and to support rural and value chain development to increase agricultural and rural enterprise productivity and the rural tourism of the country.<\/li>\n<li>It will accelerate the country\u2019s annual infrastructure spending to account for 5% of GDP, or higher.<\/li>\n<li>It will provide more employment opportunities for Filipino workers due to heightened infrastructure spending.<\/li>\n<\/ul>\n<p>Lastly, the department reminded and told everyone to \u201cwork hard, be resourceful, dream, save, invest more, and help make 2017 a prosperous new year for the Philippines and Asia!\u201d<\/p>\n<p>To know more about DTI\u2019s report, you may visit their website.<\/p>\n<p><em>Source: <a href=\"http:\/\/www.dti.gov.ph\/2016-04-15-07-33-48\/27-main-content\/emb-news\/9981-the-philippines-will-be-the-world-s-fastest-growing-economy-in-asia\">DTI<\/a>, <a href=\"http:\/\/www.philstar.com\/business-life\/2016\/12\/12\/1652501\/philippines-will-be-worlds-fastest-growing-economy-asia\">Philippine Star<\/a>, <a href=\"http:\/\/fortune.com\/predictions-2017-future-business\/\">Fortune Magazine<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fortune Magazine, in its December 1 issue, predicts that 2017 will be the Philippines\u2019 year.<\/p>\n","protected":false},"author":3,"featured_media":11541,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[983,434,279,128,1628,885,119],"class_list":["post-11540","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-current-events","tag-983","tag-dti","tag-duterte","tag-economy","tag-fortune","tag-money","tag-philippines"],"acf":[],"jetpack_featured_media_url":"https:\/\/primer.com.ph\/blog\/wp-content\/uploads\/sites\/14\/2016\/12\/Capture.png","_links":{"self":[{"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/posts\/11540","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/comments?post=11540"}],"version-history":[{"count":4,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/posts\/11540\/revisions"}],"predecessor-version":[{"id":11671,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/posts\/11540\/revisions\/11671"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/media\/11541"}],"wp:attachment":[{"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/media?parent=11540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/categories?post=11540"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/primer.com.ph\/blog\/wp-json\/wp\/v2\/tags?post=11540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}