CFO and PRA

I apologize for the delay. I know we should have started at around three, but we had to go to the session hall because I had to sponsor several measures before the floor.

So I do apologize and thank you for your patience and understanding. Well, let us now begin. Magandang hapon po sa ating lahat. The budget briefing for fiscal year 2007 proposed budgets of the Commission on Filipinos Overseas and the Philippine Reclamation Authority is hereby called to order. We will be joined by several of our colleagues later on.

I would also like to thank and acknowledge the presence of CFO Secretary Dante Ang and PRA Chairman Alexander Lopez. At this juncture, may I ask the Committee Secretary to acknowledge our other resource persons in today's budget briefing?

Yes, thank you, Mr. Chair. The Committee on Finance, Subcommittee H, would like to acknowledge the presence of the following:

From the Commission on Filipinos Overseas, earlier acknowledged by the Chairman, we have Secretary Dante Francis Ang II. Good afternoon po. We also have Undersecretary Maria [unclear] Borja. From the Philippine Reclamation Authority, also earlier acknowledged by Chairman Senator Erwin Tulfo:

Attorney Alexander Lopez, Engineer Cesar Siador Jr., Director Elio [unclear], Director Anthony Peter Crisologo, Attorney Jose Ferrer Jr., and Attorney Joselito Gonzalez.

Attorney Joseph John [unclear]. From the Commission on Audit for the Commission on Filipinos Overseas,

we have Mr. Fahad bin Abdul Malik Tumawis.

From the Commission on Audit for the Philippine Reclamation Authority, we have Mr. Marlon Marcadia. Good afternoon, sir.

From the Department of Budget and Management for Commission on Filipinas Overseas, we have Ms. Mary Rose Aguilar, good afternoon ma'am.

And also from the Department of Budget and Management for Philippine Reclamation Authority, we have Ms. Lulu Vizpo, good afternoon po.

I think that is all, Mr. Chair.

Thank you, Committee Secretary. I would like to acknowledge the presence of our Minority Leader, Senator Alan Peter Cayetano. Thank you, sir, for joining us this afternoon.

Anyway, for today, the Finance Subcommittee H will deliberate on the fiscal year 2027 proposed budgets of the Commission on Filipinos Overseas and the Philippine Reclamation Authority.

As we deliberate on the 2027 budget,

let us remember that every peso appropriated is a peso entrusted to us by the people.

Kaya dapat malinaw po saan napupunta ang ating pondo, ano ang resulta, at sino ang tunay na makikinabang.

For the CFO, our starting point is equally clear.

Hindi lamang remittance ang ambag ng ating mga kababayan sa abroad.

They bring skills, investments, ideas, networks, and most importantly, a continuing connection to the Philippines.

For the PRA,

we will look closely at the balance between development and environmental stewardship.

Reclamation and the development of public lands must be anchored on sound planning,

economic value, climate resilience, and the long-term interests of Filipino people.

Hindi po sapat na may proyekto.

Dapat malinaw kung may tunay na pakinabang sa publiko.

At the end of this deliberation,

our standards should be clear:

Translate into public value, measurable results, and meaningful services to the Filipino people.

This is how we uphold fiscal responsibility and more importantly, maintain the trust that our people place in government.

Let this hearing therefore be candid, constructive, and focused on the outcomes.

Ang budget ay hindi lamang po numero sa papel.

Ito ay salamin ng ating mga prioridad at pananagutan sa mamamayan.

Thank you.

Let's proceed.

But before we do that,

I would like to ask our minority leader, Senator Cayetano, if he has any opening statement.

Thank you very much, Mr. Chairman.

I will follow your lead.

You said to keep it clear, focused, professional.

So, sa akin lang po yung biblical principle, kung anong ating itatanim, yan ang ating aanihin.

And in that spirit, after the chairman, may I ask one or two questions?

To the Honourable Secretary Dante, about Filipinos overseas.

Thank you, Mayor.

With that, let us proceed with our budget hearing.

We will open the floor now for the Commission on Filipinos Overseas, if they have any or if they want to make any presentation.

Secretary Ang, go ahead.

Good afternoon, Mr. Chair, Honourable Members of the Committee.

With your permission.

Sirs, I have a two-page opening statement and a five-minute video, if that would be okay.

Go ahead.

Salamat po.

Whenever stakeholders hear us, it is often followed by questions about our connection to our other migrant-serving counterparts and our scope of work.

Put simply, the CFO's mandate is to foster diaspora engagement through programs and policies

that involve and empower our non-resident Filipinos.

To participate in national development.

NRF is our term for permanent migrants, expatriates, dual citizens, marriage migrants, as well as all their descendants and cultural exchange program participants in the U.S. and Europe.

They are the reason why the CFO exists under Batas Pambansa 79 to serve migrating Filipinos and lead in the Brain Gain initiatives.

The CFO ensures that NRFs are connected to the Philippines politically, economically, and culturally.

The Philippines enjoys a competitive advantage.

But Filipinos overseas need programs and policies that enable them to participate in development.

First, the CFO serves the largest segment of our migrants.

About 60% of the estimated 10.7 million Filipinos residing overseas fall under the CFO's

specific purview and require government services.

This is more than half of the population, and they are vital resources for the Philippines.

The diaspora, despite migrating long-term, continues to identify with being Filipino

and expresses an earnest desire to be involved in the country. Second is its economic significance.

just like ofws our nrfs bring in a significant amount of remittances but they are hardly

recognized for this contribution. Our flagship diaspora program, Lingkod sa Kapwa Pilipino (LINKAPIL),

has facilitated more than 3.4 billion pesos in contributions over the decades.

in relation the cfo's constituents not only give back economically as the chairman said

but they also provide knowledge and skills transfer to communities

we have done medical mission they have done medical missions capacity building workshops

and consultations with our partners

The LINKAPIL economic engagement program is one through which NRFs can help SMEs in

the philippines and support small-scale infrastructure third is harnessing political

and social capital. Our NRFs serve as informal ambassadors of our country,

imbued with soft power some diaspora members are not only community leaders but they also

serve in key positions in governments overseas the cfo collaborates with these important

figures

and opens the way for business, social, and tourism ventures in the Philippines.

the creation of the cfo in 1980 signaled a clear recognition that international migration

extended beyond labor mobility and required focused attention on immigrant populations

and transnational engagement our filipino diaspora summit last june brought together

nrfs from around the world and echoed the same sentiment it proved that the diaspora

is not seeking engagement the philippines in the abstract but rather with specific concrete

development opportunities provided by the cfo thus it are it is our intention to continue our mission

and ensure that the contributions welfare and interests of our permanent and long-term

migrants are not neglected. To facilitate our plans, the CFO is proposing a budget of 195.2 million pesos. Forty-eight percent,

or 93.898 million pesos,

will be allocated to personnel services, while 52 percent, or 101.302 million pesos,

will be allocated for maintenance and other operating expenses, or MOOE.

in terms of distribution by major program activity or project

73.26 million will be allocated to general administration and support or gas

the cfo assures that the budget shall be maximized to its fullest potential as evidenced by a previous

performance in 2025 we were able to obligate 91.36 percent of our of our budget with a

disbursement rate of 92.6 percent in the last seven years the cfo has maintained more than a 90

disbursement rate. In 2027, the CFO will not only maintain its regular programs such as BaLinkBayan,

YouLeaD, Ugnayan, but also intensify campaigns for further diaspora engagement for national development.

we plan to conduct outreach to overseas filipino organizations

create development focus modules for the youth intensify our anti-human trafficking efforts

and bolster partnerships with other migration and development stakeholders

to help achieve our new goals we are also requesting an additional 88 million 764 000

for the cfo mismo baling buy-in project continuing cost office productivity and our newly created for

filipino diaspora volunteer program supporting the cfo means strengthening our commitment to

every filipino whether they are at home or abroad so with your permission mr chairman i now show

a brief video to summarize all of these proposals

Around the world, millions of Filipinos have built lives, careers, and communities. With them is a vast reservoir of knowledge, expertise, networks, resources, and a continuing desire to contribute to the Philippines.

For many, the question is

not whether

they want to help,

but how, where,

and with whom

they can make a meaningful contribution.

This is where the Commission on Filipinos Overseas, or CFO, comes in.

CFO connects Filipinos overseas with credible programs, communities, government institutions, and partners

through which they can remain engaged and contribute to the country's development.

Around 6 million non-resident Filipinos or NRFs live across the world

as permanent residents, naturalized and dual citizens, spouses and partners of foreign nationals,

descendants of Filipino migrants, exchange visitors, and other migrants under the Commission's mandate.

Across countries, citizenships, and generations, one bond endures.

Dugong Pinoy

CFO strengthens the political, economic, and cultural ties of Filipinos overseas with the Philippines

and facilitates their meaningful participation in national development.

For Filipinos overseas who want to remain connected and contribute to the Philippines,

CFO provides concrete ways to take part.

LINKAPIL connects NRFs who want to give back with channels for supporting local development.

In 2025, the program facilitated 14.4 million pesos in donations from 2,835 overseas donors,

benefiting 17,698 Filipinos in 17 provinces and the National Capital Region.

Beyond immediate assistance, CFO encourages contributions

that address

longer-term development needs

and strengthen community resilience,

turning bayanihan across borders into concrete action.

BaLinkBayan

reconnects Filipinos overseas with their places of origin,

working with LGUs to link diaspora investments, expertise, community initiatives,

and other forms of participation with local development needs.

CFO also engages succeeding generations through Philippine schools overseas,

YouLeaD,

and the Virtual Centro Rizal, strengthening Filipino identity and their connection to the homeland.

Ugnayan brings CFO services, programs, and diaspora engagement initiatives directly to Filipino communities overseas.

CFO also brings NRF perspectives into policymaking,

helping ensure that diaspora concerns are reflected in government policy and migration governance.

PESO Sense strengthens financial literacy, supported by a digital community of 3.9 million followers and nearly 800,000 SAVERS Group members.

Together, these programs represent one of CFO's defining roles, our second frontline,

which continues after Filipinos have established lives overseas.

Here, CFO helps reconnect the diaspora with the Philippines and channel their knowledge, skills, networks, investments,

philanthropy, and other resources toward national and local development.

In this way, migration becomes a continuing circulation of knowledge and resources,

helping transform brain drain into brain gain through diaspora engagement.

CFO's work also begins before migration.

At our first frontline, we prepare and support Filipinos as they build new lives overseas.

In 2025, CFO served 81,859 Filipino migrants,

and program participants across its pre-departure, counseling, au pair, and exchange visitor programs.

CFO also protects migrants through the 1343 Action Line and its advocacy and coordination work against trafficking in persons.

As migration continues to evolve, so must the way government reaches and engages Filipinos overseas.

CFO is strengthening its digital services, BaLinkBayan, critical information systems, and overseas reach

through

honorary diaspora representatives in selected communities.

These initiatives will make government services more accessible and enable more Filipinos abroad to connect, participate, and contribute to the Philippines.

As the Filipino diaspora continues to grow and evolve,

so does the importance of keeping the Philippines connected to Filipinos wherever they may be.

CFO brings the global Filipino community closer to the country's development needs,

and brings credible avenues for participation,

closer to Filipinos wherever they are.

CFO translates public resources into programs and services for Filipinos overseas.

In 2025, the Commission posted a 91.36% obligation rate and a 92.60% disbursement rate.

For Fiscal Year 2027, the CFO has a proposed budget of P195.2 million under the National Expenditure Program.

Additional resources

will allow CFO to reach more Filipinos overseas,

strengthen program delivery,

expand digital access,

and deepen diaspora engagement for national and local development.

Thank you, Mr. Chair.

We can take questions now.

Thank you, Secretary.

Let me turn over the mic now to our Minority Leader,

Senator Allan Cayetano.

Thank you, Mr. Chairman.

As we were discussing, Mr. Chairman,

together also with Senator Rafi Tulfo,

we were discussing the Department of Migrant Workers, Secretary Dante.

The original version that, at least the one I filed,

first in the Senate and then in the House of Representatives,

when it was passed, I was in the House of Representatives.

The original version was not Department of Migrant Workers.

It's a department for overseas Filipinos.

Okay.

The idea then was God works in mysterious ways.

So 2008 or 2009, I visited the UK.

A very good finance person and ambassador, Ambassador Espiritu, entertained me.

His joke was that he was fired because of GMA after I visited him.

He brought in a couple of young people.

And realistically, if you saw them,

maybe one looked very Filipino.

Two, may hint ka na tatay, nanay, lola nito Pilipino.

Yung tatlo akala mo Indian, British Indian.

Yung isa akala mo Chinese, British.

But all of them had Filipino blood.

Then he said to me,

Senator, these are the ones who have money.

Because they are the grandchildren.

So yung migrants, yung lola nila, nurses, engineers,

may [unclear] diyan.

Talagang lahat ng klaseng hirap.

Pero yung magulang nila nakapag-aral na sa mga UK schools,

British universities,

with a good salary.

But these ones, they are in the top schools.

At yung mga graduate nito, pinag-aagawan na.

So they are in good company.

But most of them have never visited the Philippines.

So he wanted to point out,

he thought of a program.

He said, yes, it's a good program.

Let's say in Hong Kong,

if your boss wants to join,

it's a plus one visitor.

And Hong Kong is just nearby.

Or if you're an engineer in Saudi,

and you want to sell a different vacation spot from the usual,

Eh marami din namang Muslim Filipino,

so kino-consider din.

But compared, for example, to Dubai,

Indonesia, Malaysia,

medyo hindi tayo first, second, third choice.

So we put that in the bill.

Unfortunately, some members at that time,

even in the budget,

I'm looking at your budget,

one particular person,

I won't name him because he just has an idea.

He's not here in the Senate.

He said,

why should we spend for people

who are no longer Filipinos?

Right?

Without,

he didn't see the flip side.

He didn't choose,

when he was born,

that they are now apos,

and their parents

are no longer Filipinos by citizenship,

but Filipinos by blood.

And later on,

the dual citizenship was passed.

And to some who do not own,

or have no land here,

and his whole family is in the US,

in Europe,

in Japan,

in Korea,

there was really no incentive

to have dual citizenship.

And there are some countries,

like Japan,

I know a Filipino-Japanese,

he said,

Sir,

here,

when we ask,

we need to answer in Japanese.

Unlike in the US or the Philippines,

when you ask,

you can say that you are a dual citizen.

Okay.

So my point,

Mr. Secretary,

is that

at the end of this year,

the law creating the

Department of Migrant Workers

will trigger for early next year

a review.

And both Senator Tulfos have said

that they will spend time on that.

And I just want to lay that on your feet

because you're in the cabinet.

Look at the interplay of

because it's complicated enough

what is with the migrant workers,

what is with the DFA.

Then you will add more Filipinos

overseas.

And I was looking at your programs,

magaganda,

katulad nung mga pre-depart,

yung PIDOS,

yung sa DFA,

may paos din sila aside from PIDOS.

But if I look at the flip side,

I'd like you to,

I'd like you to have programs

in the US,

in the UK,

in France,

getting these young Filipinos

to get to know their country by black.

by origin. And you'll be surprised

Senator Tulfo, there's

what year was that?

If I'm not mistaken, I was

either a new senator or congressman

pa ako. So around 2007-2008

we went to South Africa

and the embassy

brought Filipinos to us

and they were there since

late 1800s

and they were asked

how did your ninunos

get here? Sabi na sir

1800s pa lang

nagsustokwa na

yung mga Pilipino sa mga ships

tapos kung saan may opportunity

doon. So yung mga lolot-lola

namin, nasa mga

ships, galleon trade, whatever

it is. Alam naman

natin galleon trade

Mexico, through Mexico

then Spain. But

may mga ganun talaga. But

because the embassy there

tuwing may bibisita na

Philippine delegation, ipapakilala

but sa iba, nawawala

yung institutional memory.

I remember in 2007-2008

or 2009

first time ko sa Ukraine

very very different

when we went to a new hotel

may gumaganon na chef

kasi nasa gitna, yung open yung kitchen

nasa gitna ng hotel, gumaganon

takan-taka yung mga tao

tapos sabi nung honorary consul

no no, we have about five

uh

Filipinos here.

How did they get here? Well, some went

to Europe, some went to Russia

basta somehow Filipinos find

the way. Parang tubig

kahit anong harang mo sa dam

and everything, hahanap yung Pilipino.

So I promise the chairman, maikli lang

So I do

want you to have the budget you need

but vis-a-vis

the programs that will

bring in

not only funds

not only

uh put it another way, no?

If there's gonna be a revival

of Filipino culture in the same

way that nung nagkaroon ng K-drama

K-pop, di ba?

Nung I remember

when I was a new congressman

1998, pagpunta ka ng

Malaysia, Thailand, yung mga DVD

or VCD pa ba yung pirated nun?

Mga dinab na Filipino

movies, di ba? Then sumikat

ang Bollywood and then

later on sumikat na yung Korea

but one of these days, whether it's

Filipino food, whether it's yung

ube ngayon abroad,

whether it's

our traditional hilot

in the massage,

whether it's our family

oriented culture,

one of these days, magkakaroon

ng renaissance din ng

what is Filipino and with more than

10 million Filipinos abroad,

I think your

commission

needs an

upgrade all around.

Personal, resources,

programs, etc. So sa

US alone,

at least when I was in DFA, they said 6 million

ang tingin nilang

may Filipino heritage.

Halo na daw yun na

TNT

totally Americano na

dual citizen and everything.

So that's not a small number.

Can you imagine if 10% of them

travel to the Philippines,

that's 600,000. If each

of them may isang anak or may isang asawa,

na hindi

of Filipino descent,

that's 1.2 million. Ang highest

atin-atin sa tourism is

around 1.6 million, which is

I don't know if it's Koreans now or the Japanese.

But my point is

for every tourist that comes in, for every

two tourists, two to three,

one Filipino job is created here.

And like me,

on my

mother's side, my grandfather

is German

American, but I've never

been to the island which is in the

boundary of

France and Germany.

I've never been there.

I've never been in Germany per se.

But if the German government

had a program

and I got to go there 30 years

ago, maybe every five years

pumupunta.

Wala pa akong nakitang pute

na turista na may

opportunity na pumunta ng Pilipinas once

na hindi bumalik.

In fact, if you look at let's say si Becoming

Filipino, si Kulas,

he opted not to

leave anymore.

We have a number of US personnel

when we had US bases.

They married here

or some remarried

and did not leave anymore.

I know at least a few

ambassadors who

got married to a

Filipina after their assignment here

but they plan to

come back. So I leave it

at that thought na

if you can have a program to get

people of

Filipino blood

to be more conscious of their

motherland than to get

them here, I think we shouldn't

be short-sighted in parang ano yung

immediate na babalik sa atin.

Di ba kasi magtatanim ka talaga ng

matagal-tagal.

I mean if you look at the Tulfos for example,

I grew up knowing

yung eldest nyo si

Mon Tulfo at

the time hindi pa SOCMED. It was really

inquirer ba?

Di ba inquirer?

But parang sa bilis ng panahon suddenly

silang magkakapatid. Ibat-ibang shows

pero suddenly popular

sa lahat. Di ba? So

tanim lang ng tanim eh. Then you wake

up one day nandoon.

So you might be the right. May timing

din eh. May timing. I mean

what I'm saying now is not original.

It's probably also from people

in your commission who I heard

years ago or

people from DFA who gave a couple

of ideas.

The last point I wanna make is that

the few trips that I did

make as DFA Secretary,

ang dami pala talagang official na

Pilipino. Di ba? Whether sa

US ay met nun yung Soljen

who was

Filipino din. Of course

yung mga actors

and sports, baseball,

basketball marami. But

sa New Zealand

di ba meron isa na tumakbo

sa Parliament.

I don't know now. But ang point ko

lang sir, mahirap

makialam sa politika ng ibang bansa.

But just connecting

whether it's New York City, Daly City,

whether it's in Hawaii na maraming

Pilipino. I think that's

invaluable para sa

sa atin. So dati kasi

susulat ka pa, te-telegrama, mahirap

makontakt. Ngayon ma-meet mo

lang at may relationship ka. Whether sa messenger,

WhatsApp, Viber,

you can keep in touch. Yung iba nagro-group

chat pa. And the younger they are,

the more open they are to

to

to keeping in

touch and then to visiting each other's

country. So I did

most of the talking but I'd like to support

a bigger budget in the plenary.

But I think to do that

and para hindi tayo

ma-accus ng insertion yun,

there has to be a program.

But I really think whether it's

basta kung saan pinakamaraming Pinoy

was looking nandito sa

whether it's

US or yung

Pinoy pero

how do I put it?

Tinatarget natin sila na

visit the Philippines pero

hindi sila necessarily

gagastusan mo kasi pupunta rin

naman sila ngayon. So obviously

if OFW sila, may

programa na sa kanilang POEA or

whatever. So

Mr. Chairman, yun lang yung aking

input and

my way of supporting

the present programs by talking about

the other side, aside from

yung...

We do have a...

So like my mother,

she didn't take Filipino citizenship

pero nag-retiree.

So

and for example, Dumaguete

is always in the top five,

top three, top five

best place to retire in the world.

Habang paganda ng paganda

yung Clark, I think

pala...

So many places in the Philippines that could really

be place for retirement

or even for young people to

study, baka pwede din sa commission

nyo yun na parang

study in the Philippines or

do a summer in the Philippines or

put up a business in the

Philippines, retire in the Philippines. Thank you

Mr. Chairman.

Thank you, Majority...Minority

Leader. Isang question

lang po, Secretary. I wanted to question

how many have you

served the CFO? How many

Filipinos or

permanent residents have you served

last year?

Mr. Chair,

about 70,000 po go

through our office for the pre-departure orientation

seminar. But as our

presentation showed po,

we are looking to see how

the Honorable Minority Leader said,

how we can also engage them to

come back to the Philippines in various ways.

I'm glad po the Minority Leader

brought up that very interesting program

and he may be

glad to know po that the CFO

has the youth leaders in the

diaspora program. This has been a decades

long program where

we invite young

members of the Filipino diaspora

to come to the Philippines

to learn about our culture

and heritage.

Nagsimula po yung program na yan

sa Lakbay Aral. Pero

over the years po, we

inserted leadership

training components

so that hindi lang po siya po

to resume.

But importante rin po yan.

So,

we haven't yet quantified po yung

pabalik, but the ones outgoing po,

about 70,000 po.

Okay, thank you.

Thank you.

Do you have any more questions? You're good.

Well, anyway, there being no

other questions, the fiscal

year 2027 proposed budget

of the Commission on Filipino Overseas

is now being submitted for

consideration, subject to

the discussions and submission of

requested documents. Thank you,

Secretary. And the CFO delegation

is now permitted to leave the venue.

This budget briefing of

the CFO is now over. Thank you.

Budget briefing is suspended.

exclude ourselves to 80,000 events that have more than 20,000 participants, because the biggest exhibition center we have now is 18,000. Yung MOA po, ang PICC is 10,000, of course on two venues, and ang World Trade is

14,000. Yun naman pong Philippine Arena, wala pong hotel, hindi maka-attract po ng international MICE events. So this will be colossal trade fairs. From the past and now, we had to turn away events because of the lack of facilities. Marami ho tayong tine-turn away. We will open ourselves and unlock the ability to host world rotating

association congresses and global trade fairs. It will be a 140,000-square-meter main venue. The building will be [unclear] square meters and will be the biggest in Southeast Asia. For example, Singapore Trade Expo has a 120,000

square-meter area, but they attracted 1.5 million participants. A 140,000-square-meter venue at an industry standard 50 to 60 percent utilization rate could reasonably attract an additional 300,000 to 500,000 delegates.

Nung nagpe-present po kami sa Nether Board, tinanong po, "Malaki naman yung halaga ng building ninyo. Bakit hindi na natin ibigay sa Department of Tourism yan?" Sabi po ng Department of Tourism, sila na sumagot para sa amin: "Your Honor, we would rather have the PIEC that will bring in the tourists." Right now, a regular tourist spends 6,000 per night, per day.

Karamihan po ngayon ng tourists, mga backpackers, mga estudyante. But a tourist will bring in 30,000 dahil funded po sila ng korporasyon nila, ng gobyerno nila, and they will set up booths. This influx would represent a [unclear] increase over pre-pandemic baseline arrivals, [unclear] the Philippines into a top

global destination. Ngayon po tayo sa [unclear] because we only get [unclear] tourists. PIEC's return on investment is [unclear]. One is PIEC's economic effects. The PIEC is designed to generate economic value beyond

its immediate project. It will be a powerful catalyst for growth across sectors: commerce, tourism, real estate, transport, [unclear], services, IT, hotels,

shopping, restaurants, transport. It will not only [unclear] national taxes but local taxes. Number two, the PIEC will hasten real estate growth. We anticipate significant [unclear] from local and [unclear] partners, increasing appraisal of our own

real estate. Alam niyo po dito sa MOA, Financial at Entertainment City, it took us 49 years for [unclear] casinos, [unclear] hotels, tens of thousands of units and millions of square [unclear] for commercial and cultural purposes. May simbahan po, etc.

Hindi na po natin [unclear] 49 years. This will be an anchor tenant, and we believe we are already attracting inquiries from hotel owners. From 62,000 per square [unclear] ang valuation ng lupa two years ago when we conceived PIEC, at nalaman po internationally,

the value po ngayon, the last sale in the newly reclaimed area is already [unclear]. Sa appraisal value pa lang po ng Republika ng Pilipinas, the Republic owns [unclear] of the newly reclaimed land and about 400,000 [unclear].

So it is a total of about [unclear]. This appreciation in land value, the PIEC's ability to [unclear] property assets, enhance [unclear], create jobs and generate a stream of government revenue, a strong foundation for future investments and broader tax base and urban development.

As one of PBBM's legacy and flagship projects and infrastructure, PIEC is set to be a substantial source of government revenue stream over the next 50 years, a conservative estimate contribution to the national government of at least P422 billion based on PRA projections confirmed by the DOF, the NEDA, and the ICC.

This is conservative. The Ways and Means has estimated a higher value, the Congress Ways and Means Committee, which we are gladly to give you.

This long-term revenue position, PIEC, as a sustainable revenue source for government, reinforcing the financial infrastructure needed to fund essential government services.

Ngayon po,

when we assumed office, 38 billion lang po noong November 2023, 38 billion lang po ang assets ng PRA.

Ngayon po, 228 billion na.

And soon, we project it to be 400 billion.

And when we reach the full potential, that is when, kasi hindi naman natin pwede ibenta ng wala sa halagang ang lupa natin.

So when it reaches full potential, maybe two, three years from now, then doon po talaga makikinabang ang Republika ng Pilipinas.

So, impact on future generations.

The PIEC will serve as a foundation for job creation across various industries and forge stronger partnership within and across the border.

By delivering large-scale and integrated paradigm for development, the PIEC will broaden the landscape of office.

The PIEC will broaden the landscape of office.

The PIEC will broaden the landscape of office.

and showcase our greatest assets, our people, our culture, and stand as an enduring testament and its endeavors.

The project will be located on 81,000 square meters, owned by the PRA within the Pasay City Harbor Reclamation,

a newly reclaimed land within Pasay City, and it's part of a Pasay Eco-City coastal development,

which is about 6.5 million square meters.

Ang natituluhan na ho dito, 135 hectares.

This year, we expect another 225.

And next year, the balance of 3 million square meters po.

We are growing very fast, completing the projects very fast.

It will be connected to the mainland by 15 bridges that will be construed to be fully funded,

by the private sector, wala pong gastos ang gobyerno rito.

It will have 88 kilometers of road, it will have 120 kilometers of sewer lines and flood control,

and 22 kilometers of revetment.

So yung sinasabi po nila, mawawala yung dagat po, yung isa pong project natin, yung SM,

pinaatras po ni Presidente ng 500 meters para magkaroon po ng gap between Sofitel area

and the newly reclaimed area.

Kaya makikita niyo po that we will have 22 kilometers of new coastline.

And lahat po ito, libre sa gobyerno.

We will have 88 kilometers of bike lane, sidewalk, free electricity and water lines to the government's

3 million 100 square meters.

We will have 312,000 square meters of parks and green spaces, all free of charge.

This is made possible by the funding of the private sectors.

The immediate implementations of these projects have been accelerated through the construction

of the PIEC.

Dahil may deadline po tayong minimit, lahat po nag-a-apport ngayon.

Makikita niyo sa mga pictures, nandyan na po yung mga tulay, ginagawa na po.

Nandyan na yung mga kalye, ginagawa na po.

Seven of these bridges will be completed before the targeted date, completion date

of the PIEC.

As for before, wala ho silang date.

Ngayon po, binilisan po namin para ma-jumpstart at umabot sa PIEC.

Currently, we can benchmark PIEC against Singapore's 1.5 million tourists, Expo-level utilization,

Canton-style trade orientation.

Of course, we cannot compare because they have a huge, huge competition.

Canton Exhibition Center and Bangkok Po, which has 1.2 million exhibitors last year.

Through the infrastructure presented earlier, we can develop PIEC and its immediate environs

including transport, utilities.

The PIEC is an exhibition and convention center envisioned to capture the growing demand

for meetings, incentives, conventions, and exhibitions.

Tourism in Southeast Asia.

Kami po sa PRA, we are positioning ourselves not to be a mice for Philippine products and

people and events and meetings, but we want to steal some of the, sorry for the word po,

we want to take some of the tourism from Singapore, which has 1.5 million mice participants

in Singapore Expo alone in Thailand.

We are confident we can do this.

One quick question, Mr. Chairman.

Ano po ang specific competitive advantage ng PIEC natin na wala sa existing convention and exhibition facilities

sa isang bangsa?

At ano po magiging dahilan para piliin ng international organizers ang PIEC natin

kaysa sa ibang venue sa Southeast Asia, Singapore, Thailand?

Sorry.

Unang-una po, mura po ang labor dito.

Mas mura ang hotel natin sa Singapore at sa Thailand, lalo na pag nadatingan na ho yung mga mice tourists.

Ang nagtatayo po ng boots dito, mura po.

And this will be a novelty for this exhibition.

Alam nyo naman, marami ho dito sa nag-e-exhibition po, junket ang hinahanap.

Hindi naman pwede puro Thailand, Singapore.

At Japan at China lang sila.

So marami po rito nag-o-open.

In fact, we have already had...

Some inquiries on this, no?

Patanong ko lang din po, Mr. Chairman.

May projected number na po ba ang international conventions, exhibitions, events na inaasahan po natin na dadalhin po ng PIEC kada taon?

Ano po ang assumption at saan nyo po nakuha itong projections na ito?

Ang projections po namin, nakuha namin sa Department of Tourism po at data from Singapore and Thailand po.

1.5 million po ang nakuha po ng Singapore Expo last year.

And Singapore Expo is only 120,000 square meters.

And Thailand which is 240,000 square meters, nakakuha po ng 1.2 million.

Of course, these are developed, we cannot compare.

So we go at a very low level sa umpisa po.

Kasi 140,000 po ang makakuha lang tayo ng isa o dalawang event na kalahati po noon.

Di 140,000 tourists na po.

Spending at an average of 30,000, malaki na po.

So, this will be the largest in Southeast Asia with 243,000 square meters.

And we would like to thank the President for his vision.

In thinking of...

To engage in MICE.

So, at least we are thinking big in economics.

So, it aims to represent the country as a nation that is international in its outlook and ambitions

with a desire to engage with the global community and foster connection.

The PIEC aims to be a catalyst, not only of MICE events, but a meeting place to showcase not only Philippine products,

culture, arts, history, and culture.

But also the Philippines' plan to position itself as a meeting place and trading center of Asian products, culture, people, history, and tradition.