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Opinion - South China Sea- Philippines must softly manage disputes or miss out economically
Manilas assertive transparency strategy is touted as a model for managing maritime disputes but it diminishes key economic opportunities. As Chinese investment pours into other Southeast Asian countries, the Philippines must reduce geopolitical risks without acquiescing to Beijing......»»
Coast Guard ship Samudra Paheredar on overseas deployment to ASEAN, arrives im Phillipines
Manila [Philippines], March 25 (ANI): India Coast Guard ship Samudra Paheredar, a specialized Pollution Control Vessel, reached Manila, Philippines on Monday, marking the commencement of its (overseas deployment) OSD mission to Association of Southeast Asian Nation (ASEAN) countries. ASEAN countries includes Brunei Darussalam, Burma, Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand, and Vietnam, " acc.....»»
Coast Guard ship Samudra Paheredar on overseas deployment to ASEAN nations, arrives in Philippines
Manila [Philippines], March 25 (ANI): India Coast Guard ship Samudra Paheredar, a specialized Pollution Control Vessel, reached Manila, Philippines on Monday, marking the commencement of its (overseas deployment) OSD mission to Association of Southeast Asian Nation (ASEAN) countries. ASEAN countries includes Brunei Darussalam, Burma, Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand, and Vietnam, " acc.....»»
Coast Guard ship Samudra Paheredar on overseas deployment to ASEAN, arrives im Phillipines
Manila [Philippines], March 25 (ANI): India Coast Guard ship Samudra Paheredar, a specialized Pollution Control Vessel, reached Manila, Philippines on Monday, marking the commencement of its (overseas deployment) OSD mission to Association of Southeast Asian Nation (ASEAN) countries. ASEAN countries includes Brunei Darussalam, Burma, Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand, and Vietnam, " acc.....»»
Coast Guard ship Samudra Paheredar on overseas deployment to ASEAN nations, arrives in Philippines
Manila [Philippines], March 25 (ANI): India Coast Guard ship Samudra Paheredar, a specialized Pollution Control Vessel, reached Manila, Philippines on Monday, marking the commencement of its (overseas deployment) OSD mission to Association of Southeast Asian Nation (ASEAN) countries. ASEAN countries includes Brunei Darussalam, Burma, Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand, and Vietnam, " acc.....»»
Oftana new 3-point King
TNT’s Calvin Oftana’s career is really on an upward trajectory. From PBA champion to Asian Games gold medalist, Oftana now owns the title PBA Three-point King......»»
Philippines bows down to Iraq in FIFA Qualifiers
CEBU CITY, Philippines — Mohanad Ali scored a late goal for Iraq that sent the Philippines to the bottom of Group F in the FIFA World Cup 2026 and AFC Asian Cup Qualifiers on Friday, March 21 (March 22, Manila Time) at the Basra International Stadium in Iraq. With the defeat, the Philippines’ chances to.....»»
Big Dome, MOA eyed for FIVB world meet
The Philippines will be the only second Asian country, next to Japan, to host the FIVB Men’s World Championship when the 32 best teams in the world converge on local soil to duke it out for the coveted volley crown on Sept. 12 to 28 next year......»»
First poster ng ‘Secret Ingredient’ ni Julia, 2 Asian actors ibinandera na
HUMANDA na sa nakakatakam na upcoming romantic series! Ipinasilip na ang first poster para sa K-Drama na “Secret Ingredient” na pinagbibidahan ng Pinay actress na si Julia Barretto, kasama ang Korean star na si Sang Heon Lee at Indonesian actor na si Nicholas Saputra. Ang serye ang kauna-unahang collaboration ng Viu Philippines at Unilever Nutrition.....»»
Asian Study Reveals Endocrine-disrupting Chemicals Found in Personal Care Products from the Philippines
In a press briefing in time for the observance of World Consumer Rights Month, BAN Toxics, a chemical and waste management NGO, discloses the findings of recent laboratory testing indicating the presence of parabens, triclosan, and triclocarban, classified as endocrine-disrupting chemicals (EDCs), in personal care products sold in the country. The result underscores potential health risks for.....»»
ADB approves USD 100 mln loan to support small and medium-sized enterprises in Sri Lanka
Manila [Philippines], March 19 (ANI): The Asian Development Bank (ADB) has approved a USD 100 million loan to provide small and medium-sized enterprises (SMEs) in Sri Lanka more access to finance and build their resilience to external shocks, such as the economic crisis and climate change. SMEs play a critical role in Sri Lanka's economy, contributing 52 per cent to the country's gross domestic product and employ 45 per c.....»»
Senate seeks Spanish counterpart’s aid in crafting Phl-EU free trade pact
A delegation of senators visited Spain during the celebration of the 75th year of the Philippines-European Union’s diplomatic relations. The country’s official inter-parliamentary visit was led by Senate President Juan Miguel Zubiri on Monday. He was accompanied by Senate Majority Leader Joel Villanueva and Senators Joseph Victor “JV” Estrada, Sonny Angara, Pia Cayetano, Nancy Binay, Grace Poe, and Mark Villar, along with Philippine Ambassador to Spain Philippe Lhuillier. The Philippine senators met their counterparts and discussed the enhanced trade between the Philippines and the EU. During the commemoration of the Phl-EU ties, Zubiri urged their counterparts to build stronger partnerships and solid relationships anchored in history. “Let us build on 500 years of friendship and history. The foundations of our friendship are anchored on our shared history, our shared culture, and our shared Catholic faith. Though we are proud to be our own independent Republic, we are also grateful for our heritage and our Hispanidad,” Zubiri told their counterparts in a meeting. In a statement Tuesday, Zubiri said he met with his Spanish counterpart, Pedro Rollán, and Spanish Ambassador to the Philippines Miguel Utray. During their meeting, Zubiri said he sought the assistance of Rollán as the Philippines is targeting to develop a free trade agreement with the EU. Rollán, in response, expressed his willingness to help the Philippines in crafting the pact saying that “Spain is well-positioned to offer support in the post-pandemic period as the head of the EU.” “Spain’s doors are always open for the Philippines. The visit is a welcome opportunity to reinforce the already excellent relations between the Philippines and Spain,” he added. Spain currently leads the EU for the extension of the Generalized Scheme of Preferences (GSP+), which allows about 6,000 Filipino products to enter the EU duty-free. EU Ambassador to the Philippines Luc Veron previously said that the EU is considering the resumption of FTA talks with a Southeast Asian country “which could be Malaysia, Thailand, or the Philippines.”.....»»
Lenovo treats Phl as top Southeast Asian market
Even if neighboring countries in the Southeast Asian region are advantageous in terms of being technology savvy, the Philippines remains an integral market according to an official of Lenovo, a Chinese multinational technology company specializing in designing, manufacturing, and marketing consumer electronics, personal computers, software, business solutions, and related services. “We see strong demand for the Philippines, the only question is how the consumers get the technology. The pandemic has even made the demand for the Philippines surge because of the digital transformation, unlike pre-pandemic where everyone is scrambling. Right now, because of the transformation, growth is very evident. In other words, investments, including Lenovo technologies are still in demand in the market,” according to Giancarlo Nogales from the Infrastructure Solutions Services Sales of Lenovo Philippines at the sidelines of the VST ECS CXO Tech Summit at the Dusit Thani in Mactan Cebu. “In terms of devices, the Philippines is actually doing well,” he added. Last August, the company said that over the next three years, Lenovo is committing a further $1 billion in investment for artificial intelligence that will focus on providing AI devices, AI-ready, and AI-optimized computing infrastructure, and embedded AI-generated content into the intelligent solutions of vertical industries to help customers improve their productivity. Lenovo in September 2023 has unveiled new cutting-edge tech tools and essentials tailored to empower the dynamic, evolving needs of today’s business end-users. It said that the new monitor, software, and accessories are not only designed to boost the capabilities of today’s remote and hybrid workforces but also to address significant challenges faced by businesses as they digitize operations across departments. “Lenovo research shows that managing a remote workforce and global teams remain central tasks for CIOs.1. That is why the new offerings integrate impressive processing power, immersive 3D, and advanced security to create a unified, human-centered experience,” the company said. Further, Nogales added that sales for Lenovo in the Philippines will continue to soar as the country has a bigger population which connotes demand compared to other nations in SE Asia. What Lenovo can count on with the Philippines is the demand for laptops and tablets that are now being used by students, educators, workers, and even the government. “Actually, we have an ongoing engagement with the government sector. I was at an event with the DICT (Department of Information and Communications) and we had discussions with the Department of Education as well, but we still understand what they are looking for. Of course, with DepEd, it’s a big agency, and what I can say is we are working with them across whatever we can offer—cloud technologies, among others,” he told the DAILY TRIBUNE. Nogales said he sees an ongoing digital transformation within organizations and will continue over the coming years. Digital transformation is an ongoing journey Meanwhile, VST ECS president and CEO Jimmy Go stressed that in the ever-evolving world of technology, organizations are charting a course - through a landscape that has seen profound advancement in recent years. “It's important to understand that digital transformation is not a one-time event but an ongoing journey. Every day, we bear witness to the unveiling of new digital technologies. In this dynamic environment, the lines between the physical and digital worlds are blurring, creating a phenomenon known as phygital convergence," he said. He said organizations nowadays stand at the threshold of a remarkable technological revolution. “Generative AI is the talk of the town with Chat GPT and other AI, offering organizations the power to intelligently automate customer experiences and streamline internal operations. The implications of this technology are far-reaching. Microsoft is launching CoPilot and most software applications are incorporating AI in their applications. Gartner predicts that by 2030, a staggering 80 percent of people will interact with smart robots daily, and in just two years, these smart robots will become workforce partners for 90 percent of global companies,” he said. Further, Go stressed that AI and machine learning, once a novel concept, have become integral to the products and services offered by major companies. “A mere decade ago, we were learning to communicate with machines. Today, machines understand and adapt to our language, erasing the boundaries between humans and technology. While AI is currently the headline in the tech world, we must not lose sight of the critical need to modernize our IT infrastructure,” he stated. For organizations to embrace technology, he said it’s a pivotal step in allowing organizations to embrace the latest technology trends, including Multi Clouds, Quantum computing, Data explosion, RPA, Generative AI, and more. “Investments in Connectivity solutions, Digital Infrastructure, Cloud technologies, Cybersecurity, Big data, Storage, Automation, and Collaboration tools remain vital to prepare for the ever-evolving Tech landscape. In the Israel-Hamas and Ukraine-Russia wars, Technology plays a very important and critical role in their war strategies. Computers, AI, Starlink, and drones are heavily used in their strategies,” he said. The post Lenovo treats Phl as top Southeast Asian market appeared first on Daily Tribune......»»
‘Philippines needs to catch up with region on FDI’
The Philippines needs to catch up with the rest of the Association of Southeast Asian Nations region where foreign direct investments inflow is seen growing by six to eight percent until 2030......»»
AI of the tiger: Tiny camera ‘protects’ predator — and people
Tiger populations are on the rise in the jungles of India and Nepal and the predators are roaming ever closer to villages, sparking a race among conservationists to find ways of avoiding conflict. They are increasingly finding solutions with artificial intelligence, a bunch of technologies designed to reason and make decisions like humans. Experts from Clemson University in South Carolina and several NGOs published research last month on their work using AI-enabled cameras that they say could help revolutionize tiger conservation. They placed tiny devices around enclosures in the two South Asian nations, both to protect villagers from the predators -- and the predators from poachers. According to their research, published in the BioScience journal, the camera system called TrailGuard can distinguish between tigers and other species and relay images to park rangers or villagers within seconds. "We have to find ways for people and tigers and other wildlife to coexist," Eric Dinerstein, one of the authors of the report, told AFP. "Technology can offer us a tremendous opportunity to achieve that goal very cheaply." Elephants and Amazon loggers The research claims the cameras were immediately effective, picking up a tiger just 300 meters from a village, and on another occasion identifying a team of poachers. They say their system was the first AI camera to identify and transmit a picture of a tiger, and it has almost wiped out false alarms -- when traps are tripped by passing boars or falling leaves. The scheme is one of several putting an AI spin on the established ideas of wildlife surveillance. Researchers in Gabon are using AI to sift their camera trap images and are now trying a warning system for elephants. Teams in the Amazon are piloting equipment that can detect the sounds of chainsaws, tractors and other machinery associated with deforestation. And US tech titan Google teamed up with researchers and NGOs four years ago to collect millions of images from camera traps. The project, called Wildlife Insights, automates the process of identifying species and labelling images, saving many hours of laborious work for researchers. Conservationists like Dinerstein, who also leads the tech team at the Resolve NGO, are sure that technology is helping their cause. 'Early warning system' Their goal is to ensure that 30 percent of the Earth's land and oceans are designated protected zones by 2030, as agreed by dozens of governments last year, with that number eventually going up to 50 percent. Those zones will need to be monitored, and animals will need to move safely between protected areas. "That's what we're shooting for, and the critical element of that is an early warning system," he said. The plight of tigers underscores the size of the challenge. Their habitats have been devastated across Asia and their numbers in India fell to an all-time low of 1,411 in 2006, before steadily rising to current levels of around 3,500. In the mid-20th century, India was home to an estimated 40,000. 'Jury still out' Jonathan Palmer, head of conservation technology at the US-based Wildlife Conservation Society (WCS), who was not involved in the study, said TrailGuard had exciting potential. But Palmer, who helped found Wildlife Insights with Google, said the broader uses of AI in conservation were not yet settled. "In most cases, AI species identification is still in its infancy," he said. His NGO recommends outside verification of any species identification done by AI. And Palmer said the "jury was out" on whether AI was better deployed in cameras at the scene or afterwards on servers or laptops. Those uncertainties aside, Dinerstein is widening the rollout of TrailGuard -- this time with even bigger animals in his sights. "Elephants wander outside parks all the time and it leads to a massive amount of conflict," he said. They destroy crops, cause chaos in villages and can even cause train crashes, with dozens of deaths every year, he added. "There's an immense opportunity here to prevent that." The post AI of the tiger: Tiny camera ‘protects’ predator — and people appeared first on Daily Tribune......»»
DOT holds first Tourism Pride Summit
The Department of Tourism held the first-ever Tourism Pride Summit in line with the inclusive development thrust of the administration of President Ferdinand Marcos, Jr. The Summit held at the Makati Shangri-La Hotel on 28 September 2023 gathered leading figures from the government, academe, tourism and the LGBTQIA+ community, highlighting how government investment toward this niche market that spends around $200 billion a year can contribute significantly to the growth and development of Philippine tourism. Panel discussions revolved around promoting an inclusive and progressive tourism industry, expanding opportunities through benchmarking successful pride tourism initiatives of other countries and the role of the creative industry in developing the LGBTQIA+ tourism market, which is projected to reach over $.5 trillion by 2030. [caption id="attachment_190312" align="aligncenter" width="1600"] Tourism Secretary Christina Garcia Frasco joined by her husband Congressman of the 5th District of Cebu and Deputy Speaker Duke Frasco[/caption] Tourism Secretary Christina Garcia Frasco led the series of panel discussions, joined by Congressman Christopher “Toff” de Venecia of the Fourth District of Pangasinan; Ronil Villacorta of the Philippine Financial and Inter-Industry Pride; Regine Carmelli Reyes of the Philippine Commission on Women; Atty. Regal Oliva, President of Cebu Lady Lawyers Association Inc.; Girly Gravador, owner of Cygnal Travel; and Assistant Professor Rielle Alcantara-Castro of the Asian Institute of Tourism, University of the Philippines Diliman. Also discussed were the unique challenges faced by LGBTQIA+ professionals and advocating for workplace and gender and development inclusivity; the unique experiences of LGBTQIA+ individuals and how their travel stories can enrich the DOT’s mission to create an all-encompassing, secure, and forward-looking tourism industry; LGBTQIA+ trends as a niche market in tourism; educational programs that incorporate LGBTQIA+ awareness and sensitivity training; and policies that harness the power of tourism to promote understanding, respect and acceptance of LGBTQIA+ travelers and tourism workers, making destinations more inviting for everyone. ”We at the Department of Tourism take pride in the enormous contributions of the LGBTQIA+ community across the tourism value chain in all of the regions of the Philippines. With the very first Tourism Pride Summit, we are responding to global trends that present massive opportunities for growth by pursuing niche markets that will create more jobs in tourism,” said Frasco. The post DOT holds first Tourism Pride Summit appeared first on Daily Tribune......»»
Walang (Mag)saysay
During one of the many well-publicized Senate hearings in the aftermath of the infamous Mamasapano Massacre in 2015 that led to the murder of 44 Special Action Force troopers, one Miriam Coronel-Ferrer was grilled by an irate Sen. Alan Peter Cayetano. Coronel-Ferrer was then chairman of the Aquino Government’s peace panel that had signed an accord with the Muslim rebels on the establishment of a Bangsamoro Autonomous Region, an agreement widely regarded as having signed away a lot of our Republic’s prerogatives in favor of armed Islamic insurgents. Senator Cayetano demanded to know from Coronel-Ferrer why the government dragged its feet in providing artillery support and reinforcements to the trapped policmen, to which she notoriously replied, “The policy of the government is to first negotiate with the armed groups fighting with state forces.” To this, Cayetano replied, “No government in the world negotiates with terrorists.” Coronel-Ferrer’s response left most in the Senate gallery dumbfounded when she said, “I know of no such policy.” Yet here she is, one of this year’s Magsaysay Awardees. Ironic it is that an award founded in honor of one of the best-loved Presidents this country has ever had, would be given to an underling of someone who would become one of the most hated in Philippine history (after a string of scandals such as the Luneta hostage fiasco, “Yolanda” and Dengvaxia, among many others). Even more ironic is that she is being given the award for her supposed “transformative power of non-violent strategies,” when all that she succeeded in transforming was forty-four elite police personnel into corpses due to the appalling display of violence of a rebel movement she greatly enabled. She also almost transformed our Republic into a dismembered state; thank heavens the backlash from the massacre caused the agreement she brokered to be shelved in favor of one much less onerous to the Philippines. But what is to expected of an award-giving body co-opted by Yellowtards, as a quick look at the roster of its chairman and trustees will readily reveal. Composed of men and women with strong ties either to Mrs. Cory Aquino and/or her anointed successor, Fidel Ramos, these people either served in the Cabinet or important agencies of one or the other President; or had enjoyed — or are still enjoying — high positions in big corporations supportive of the Aquino Yellow narrative. So it should be of no wonder that these denizens of the same echo chamber would exhibit the proclivity, remarkably endemic to the Aquino clique, of giving awards and accolades to each other. As if that would somehow compensate for the fact that the narrative that has kept them in power for more than 30 years had been totally demolished. Just note the decorations given to Leni after she lost, from fellowships to doctor’s degrees honoris causa to trophies for this and that dubious achievement. Such a pity that the Magsaysay Awards should so decline in prestige. It used to be an important recognition for Asian leaders, counting among its Filipino awardees the likes of Francisca Aquino, Rosa Rosal, F. Sionil Jose, Lino Brocka, Dr. Fe del Mundo, Nick Joaquin, James Reuter, Bienvenido Lumbera and Miriam Defensor-Santiago. Yet, like many others touched by the Yellow reverse-Midas touch, what used to be gold is turning to crap, with Yellow stalwarts Jesse Robredo, Sheila Coronel, Conchita-Carpio Morales, Haydee Yorac and Hilario Davide among the list. Cringy, especially since among those who have previously received the honor were the Dalai Lama, Thai Premier Anand Panyarachun, Mochtar Lubis, Akira Kurosawa, Ravi Shankar and Mother Teresa. To use an overworn cliché, President Magsaysay would be turning in his grave to know that his eponymous award has become another way for those in the same political group to pat themselves on the back. Its value has depreciated and, if the trend is not arrested, it will soon be irrelevant, a case of walang saysay. The post Walang (Mag)saysay appeared first on Daily Tribune......»»
DoF: Rural banks should adopt tech
Rural banks must speed up the integration of digital services in their systems to allow more Filipinos to obtain various financial services, Finance Secretary Benjamin Diokno said. “The digital divide has continued to widen, leaving vulnerable sectors of the society on the margins of economic progress,” Diokno said in a statement shared Monday by the Rural Bankers Association of the Philippines. RBAP has at least 400 members and is celebrating their rural banking consciousness week until Saturday with the theme “Rural Banks: Ensuring that No Juan is Left Behind in the Age of Digitalization.” He stressed the digital gap in banking among Filipinos is evident despite the rise of digital technologies in banking, including mobile apps and the cloud system which is an online data-sharing tool and computer programs manager. A 2022 survey by the Bangko Sentral ng Pilipinas showed 55 banks could adopt digital technologies efficiently. “With accelerated adoption of digital technologies in recent years, access to financial services and critical information has never been more readily available to the general public. DoF supports RBAP’s initiative to integrate financial technologies in their services to expand access to formal credit,” the finance chief said. Opportunity to expand services Citing the performance of ASA Philippines, a microfinance lender to rural entrepreneurs, the Asian Development Bank said rural banks could expand their loan portfolios by over 50 percent using cloud technology. To help modernize the systems of rural banks, global market analyst McKinsey & Company said foreign expertise and resources can be tapped to reach over 71 million Internet users in the Philippines and the projected growth in Filipinos with bank accounts from 50.3 million to 85 million by 2030. “The underserved rural sector is well suited to digital-first or hybrid offerings, and recent changes to onboarding requirements and agent-banking rules are designed to enable digital service providers to maximize the impact of the country’s limited rural banking infrastructure,” McKinsey analysts said. The post DoF: Rural banks should adopt tech appeared first on Daily Tribune......»»
Filipinos in Taiwan farms
Thirty-one Taiwanese farms are hosting 49 young Filipino farmer-interns, who are now about to learn Taiwan’s agricultural technologies and skills to be able contribute to the Philippines’ national food security and agricultural progress. The farms are specializing in rice, vegetables, fruits, mushroom, poultry, swine, dairy and aquaculture production. Taiwan has been widely recognized as one of the leading countries in the field of tropical agriculture; think tropical crops and seedling, soil and pest management, agribusiness, food processing. Starting 2024, the Taiwan government will increase the number of Filipino interns from 50 per year to 100 in this capacity-development program. Chairman and resident representative of the Manila Economic and Cultural Office Silvestre Bello III witnessed how big strawberries and lapu-lapus can grow through agricultural technologies in Taiwan, where the capacity of rice production is three times that of the Philippines’. “There is a very big difference. That is why it’s very important to send our young farmers to Taiwan where they can learn new agricultural technologies,” Mr. Bello said. Mr. Bello told the farmers that he found out that an overwhelming percentage of Taiwan scholarship recipients from the Philippines stay in Taiwan after they graduate rather than coming back to contribute to the Philippines: “Those who graduate from this intensive program should be given the means to be able to introduce and practice that technology.” Thus, he is going to write President Marcos, advising the government to give the interns five hectares each after they come back so that the young farmers will be able to develop and apply whatever knowledge they learned “because the Philippines needs you.” While recent projections have shown a significant decline in the working-age population in Taiwan (with labor shortages predicted to reach 400,000 by 2030), many scholarship recipients from other countries chose to stay in Taiwan after they graduate. The main reason is that Taiwan provides scholarship programs, not to attract talent but to develop their knowledge and skills so that the graduates can go back to contribute to their respective countries. To be a friendly and welcoming host city, Taipei City, the capital of Taiwan, is holding Taipei MassKara Festival on 10 September in Little Manila to celebrate diversity and multiculturalism. Little Manila is a community in Taipei along the east side of Zhongshan North Road Section 3 between Minzu East Road and Nong’an Street, and along Nong’an Street and Dehui Street where you can find St. Christopher’s Church, King Wan Wan Shopping Mall in which numerous Filipino shops are located, and EEC Grocery and RJ Supermart where Filipino and Asian goods are sold. As a result, Filipinos in Taiwan love to visit Little Manila on Sunday to go to the church, eat Filipino food and buy groceries, and they can meet hundreds and thousands of kababayans there. According to the Department of Civil Affairs of the Taipei City government, the Taipei MassKara Festival was initiated in 2020, given the increasing number of new immigrants, foreign students and migrant workers. This year, the Taipei City government will subsidize NT$10,000, equals to P17,700, to each group comprising 20 people participating in the event. The groups will create their own costume and mask theme, showcasing the rich elements and exotic features of the Philippines’ MassKara Festival during the parade. The post Filipinos in Taiwan farms appeared first on Daily Tribune......»»
First country workshop for local insurance industry stakeholders
The Insurance Development Forum and its partner Microinsurance Network recently organized the first country workshop for local insurance industry stakeholders to advance an inclusive insurance-focused strategy in the Philippines. IDF Inclusive Insurance Working Group coordinator Pedro Pinheiro said that the objective of the country workshop was to close the protection gap of the low-income population through accessible and affordable insurance. “We want to increase the uptake of insurance among the low-income population who can benefit from affordable and accessible insurance products developed by local insurers,” Pinheiro said. MiN Chairman and Pioneer Group head Lorenzo Chan said that IDF partnered with MiN as a natural step to implement its inclusive insurance strategy. “The partnership allows the IDF to capitalize on the grassroots reach and wealth of resources the MiN has accumulated in the last 20 years,” Chan said. Chan said the workshop marked the kick-off engagement of the IDF in the Philippines and the establishment of a country task force. “The country task force in the Philippines will effectively allocate financial resources and technical assistance from the IDF membership to local inclusive insurance programs. Together, we will seek to address the gaps that were identified in the workshop,” Chan said. Pinheiro said that the Philippines has been selected as one of the priority countries by the inclusive insurance working group of the IDF. “The Philippines is identified as a crucial market because it is very vulnerable to climate risks and has a real need for insurance solutions. The Philippines is also advanced in the development of a regulatory framework for inclusive insurance with a thriving private sector and a very engaged government body,” Pinheiro said. Insurance Commissioner Reynaldo Regalado expressed his full support for the 1st IDF-MiN Country Workshop for Inclusive Insurance in the Philippines. “The Insurance Commission will continue to work collaboratively with microinsurance providers, non-government organizations and other stakeholders to develop innovative and sustainable solutions that will further cater to the needs of the low-income sector of the society. We commit to crafting policies that will further enhance financial inclusion in the country,” Regalado said in a statement. “IC recognizes the significance of inclusive insurance in fostering resilience and promoting economic stability in the Philippines. Inclusive insurance empowers individuals and communities by providing the same protection needed against unexpected shocks and calamities,” he added. The IDF is a public-private partnership supporting the growth and development of insurance-related resources and capabilities to help achieve the objectives of the Sustainable Development Goals and the UN Global 2030 Agenda. It was first announced at the United Nations Conference of the Parties Paris Climate Summit in 2015 and then formally launched by leaders of the insurance industry, the United Nations and the World Bank in 2016. The MiN, based in Luxembourg, is the only non-profit global multi-stakeholder platform dedicated to promoting inclusive insurance to low-income people and households worldwide. Chan is the first Asian and insurance practitioner elected as MiN Chairman in 2021. The workshop was attended by insurance industry stakeholders representing the Philippine Insurers and Reinsurers Association, Philippine Life Insurance Association, Microinsurance Intermediaries and Practitioners Association of the Philippines, Philippine Crop Insurance Corporation, GIZ Philippines and several other organizations in the inclusivity ecosystem. ### The post First country workshop for local insurance industry stakeholders appeared first on Daily Tribune......»»