Economy

HCL Technologies Philippines Inc. is gearing up for a bigger footprint, with plans to expand operations over the next two to three years and funnel more global accounts into the country, according to the Board of Investments.

December is usually when cash registers ring nonstop, delivery vans double-park with abandon, and seasonal jobs pop up like Christmas lights. This time, though, the Philippine labor market delivered a quieter jingle. Despite peak holiday demand, joblessness refused to melt away, hinting that even Santa’s factory may have sent a few elves home early.

The Department of Trade and Industry is positioning the Philippines as a springboard for Vietnamese enterprises, urging them to tap investment and franchising opportunities as gateways into the broader Southeast Asian market.

President Ferdinand R. Marcos Jr. has ordered a significant shake-up of Malacañang’s economic and investment oversight, abolishing the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) and folding its functions into the Office of the Executive Secretary (OES).

Federal Express is investing USD240 million to expand its hub at the Clark Aviation Complex, while the Bases Conversion and Development Authority is allocating P7 billion for supporting airside infrastructure, underscoring Clark’s growing role as a key logistics gateway in Southeast Asia.