AEC Feed

Aided by industry consolidation in recent years, the Philippines is set to catch up with regional peers and become the third-fastest growing market for commercial aviation in 2016, according to an aviation think tank.
Capa Center for Aviation said in a report the country already posted “high” single digit growth in terms of passenger volume in 2015. The top three growth markets were Thailand, Vietnam and Cambodia, each with double digit growth, it said.
However, Capa noted Cambodia’s tourism sector was showing a slowdown, while the Philippines was seeing an upswing in demand “boosted by a surging economy.”
Last year, the Philippines saw domestic passenger growth at 8.5 percent to 22.1 million flyers, and 10.5 percent on the international side to 19.8 million. That means total passenger growth last year was at 9.4 per cent. – Philippine Daily Inquirer

Fast-track service gains $10 bn investment
The Investment Coordinating Board (BKPM) has facilitated $10.38 billion in investment from 59 companies over the course of the last year after establishing a three-hour investment service system.
BKPM deputy director Lestari Indah said on Thursday that the fast-track services included direct construction in industrial zones and land-booking letter services.
"Investors are still facing challenges over the requirement to obtain licenses," Lestari said.
She admitted that bottlenecks were still a primary concern for the BKPM, especially in technical documents such as those used to obtain expatriate work permits.
"Further bottlenecking from technical ministries should be identified and then consolidated into a single-window service," she added. - The Jakarta Post

Philippine jobless rate down in April
 The year-on-year unemployment rate in the Philippines may have gone down, but the number of underemployed and unemployed youths continues to rise.
The unemployment rate in April declined from a year ago as the election campaign season created jobs, but the government Thursday expressed concern over high unemployment among the young population as well as an increase in the number of underemployed citizens.
The Philippine Statistics Authority’s (PSA) April 2016 Labour Force Survey (LFS) showed that the unemployment rate went down to 6.1 per cent from 6.4 per cent in April last year, although higher than the 5.8 per cent posted last January.
Despite a growing population as well as more and more individuals entering the labour force, the number of employed Filipinos rose to 39.9 million last April from 39.2 million a quarter ago, while the unemployed numbered 2.6 million.
In a statement, the National Economic and Development Authority (Neda) said the employment rate of 93.9 per cent was “at the high-end range of previous April rounds of the LFS since 2011.”
“The high proportion of working persons to the total labour force indicates an upbeat labour market,” Neda said. – Philippine Daily Inquirer.