Philippine QII economic growth slowest in three years
The Philippine economy slowed in the second quarter to 6 percent from the 6.6 percent recorded in the first quarter, the lowest growth since the third quarter of 2015.
Buildings under construction in Manila, the Philippines (Photo: AFP/VNA)
Hanoi (VNA) - The Philippine economy slowed in the second quarter to6 percent from the 6.6 percent recorded in the first quarter, the lowest growthsince the third quarter of 2015.
According to the Philippine Statistics Authority (PSA), manufacturing, trade,and construction were the main drivers of growth for the quarter.
Among the major economic sectors, services recorded the fastest growth at 6.6percent. Industry followed with a growth of 6.3 percent, and agriculture with agrowth of 0.2 percent.
Despite the slower growth in the second quarter, the Philippines remains one ofthe best-performing economies in Asia.
The Philippines targets a growth rate of 7 - 8 percent for the whole year,higher than the predictions of the Asian Development Bank (ADB) and theInternational Monetary Fund (IMF) at 6.8 percent and 6.7 percent, respectively.-VNA
Vietnam and the Philippines boast substantial potential to step up their trade and investment cooperation, heard a workshop jointly held by the two countries’ ministries of industries and trade in Ho Chi Minh City on June 20.
Foreign direct investment (FDI) flows into the Philippines in the first quarter of this year rose to 2.2 billion USD, an increase of 43.5 percent from the same period last year.
The Asian Development Bank (ADB) and the Philippines have signed a memorandum of understanding (MoU) on a 7.1-billion-USD lending programme from 2019 to 2021 for the Southeast Asian nation.
The Philippines' total external trade in goods in May reached 15.22 billion USD, up 5.1 percent from 14.48 billion USD recorded in the same month last year, according to the Philippine Statistics Authority (PSA).
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
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The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
Talking to the Vietnam News Agency on the occasion of the 100th anniversary of the Vietnam’s Revolutionary Press Day (June 21, 1925–2025), Nikulina, who is also a veteran journalist of Russia’s Sputnik News, emphasised the vital role of mainstream journalism in defending the truth and maintaining public trust.
Buildings under construction in Manila, the Philippines (Photo: AFP/VNA) 
