00:00 (reporter speaking in the background)
00:05 - It's ready for, I think Wednesday.
00:08 (reporter speaking in the background)
00:10 (speaking in Tagalog)
00:13 So that's what the future days are.
00:15 In fact, I think he'll be able to sign it before he left.
00:20 I think, I think,
00:22 (speaking in Tagalog)
00:28 But other than that, it's ready to go.
00:30 - Wednesday, sir.
00:32 (reporter speaking in the background)
00:37 - Sir, so no vetoes?
00:38 (reporter speaking in the background)
00:39 - No vetoes.
00:40 - No vetoes.
00:41 - We're not anticipating any.
00:42 (reporter speaking in the background)
00:47 We've been working closely with them,
00:51 with OT and all the departments.
00:53 (reporter speaking in the background)
00:56 - I think so, because both houses agreed upon it.
01:00 In fact, the heads of the departments agreed to it.
01:05 And the president is of the mind of as much as possible
01:12 to minimize some serious in the civil
01:16 and the partners or agencies and another focus
01:18 where it's best suited.
01:23 Issues depends, depends the postcard, you know.
01:28 - Yeah, he's working with that additional budget
01:29 for postcards, sir.
01:30 - Yes, yes, yes.
01:31 (reporter speaking in the background)
01:34 I'm sure some of you were there.
01:35 Remember we were talking about the Mahalikas
01:37 and so on and well fun.
01:38 Well, we told him that, yes, he knows,
01:41 as you all know, the Mahalika is already established.
01:44 It's being organized, being fully organized
01:46 by the year's end.
01:47 In fact, I will go to the world economy from Davos.
01:52 I'll ask the CEO of the Mahalika to go
01:55 to Davos to meet with the other fund managers.
01:59 But over here, I told the JV chairman that it's been formed.
02:03 And as I committed to the senators
02:08 when we were trying to sell the Mahalika,
02:11 the Southern Wealth Fund to the senators,
02:12 because at first they were a bit reluctant.
02:15 Once formed, I would make a recommendation
02:17 to the Mahalika Investment Corporation,
02:20 the CEO, that why don't we invest into power?
02:24 Why don't we invest into the grid?
02:26 Actually, I just made that suggestion,
02:28 recommendation to Mr. Jogwat Gosim.
02:30 And he seemed quite open to the idea.
02:33 And even further to that, obviously,
02:36 if he would want to invest into other issues,
02:40 like in Davos, it's also all about power
02:44 because the issue that besets the country
02:47 are the high power rates.
02:48 (reporter speaking in the background)
02:50 And it's not only a bane to the locals,
02:54 to all of us, the consumers, but also to all investors.
02:56 (reporter speaking in the background)
03:01 Music in the ears of the JV chairman,
03:05 (reporter speaking in the background)
03:11 (reporter speaking in the background)
03:16 That they will continue with their pledge
03:19 to $2 to $3 billion worth of investments
03:24 into Mahalika for the power sector,
03:27 particularly the renewables.
03:29 Alongside that, I also strongly think that
03:31 why don't we consider, and I told Jogwat Gosim,
03:35 we're also considering investing
03:37 into these large infrastructure projects
03:40 like the Magadam Rehabilitation.
03:44 And the downstream, we've already provided funding
03:46 in the budget, the national budget,
03:48 in the Tomawini.
03:49 This will actually rehabilitate the original Magadam
03:52 that was there almost 50 years ago,
03:54 and it converted the region to Isabela Cagayan,
03:57 the Cagayan River, into one of the most,
04:00 well, fertile, and maybe into a granary,
04:04 and number one in court.
04:06 But Magadam now is due for rehabilitation,
04:10 and it will cost close to what, almost 80 billion pesos.
04:14 (reporter speaking in the background)
04:19 So these people are into power,
04:29 and also into (mumbles)
04:32 (reporter speaking in the background)
04:35 We're all on the right track,
04:37 we're all doing the right things.
04:38 And these are the people who are telling us
04:43 that we do these investments, those support.
04:48 So the president actually even brought it up
04:49 to Prime Minister Quixida among other things.
04:53 (reporter speaking in the background)
04:58 Oh, the JV, the JV.
05:02 It's the equivalent to the central bank,
05:04 to the USP.
05:05 So that's all I mentioned.
05:07 I remember last year, I couldn't really say it.
05:09 The president confirmed that even prior to his visit,
05:12 'cause he was invited to go to Japan,
05:14 and the Japan president has committed
05:19 on the long-term arrangement vis-a-vis the rights,
05:25 because we get the bulk of our imported rights from Vietnam.
05:30 So (speaking in the background)
05:31 Prior to his visit to Vietnam,
05:35 everything from the Department of Agriculture,
05:37 (speaking in the background)
05:41 Based on the needs, because as you know,
05:53 the drought is still on,
05:55 and the prices of rice are still spiking.
05:59 Another proposition that we were talking about,
06:02 that's why these things are nice,
06:03 (speaking in the background)
06:04 So Han Manet, the son of Han Sen,
06:07 who's now the head of state of Cambodia,
06:09 is like reminding us,
06:11 remember that you're talking to Vietnam,
06:13 but Vietnam and Thailand get all their palay from us.
06:17 Why don't you consider setting up in Cambodia?
06:21 (speaking in the background)
06:24 (speaking in the background)
06:28 So those are other options to look at.
06:38 So food security is very important to the president,
06:41 although (speaking in the background)
06:43 That's foremost in his mind,
06:45 (speaking in the background)
06:49 (speaking in the background)
06:52 (speaking in the background)
06:56 (speaking in the background)
07:01 This is for Kido, of course,
07:02 the secretary of the United Nations is aspirational,
07:04 (speaking in the background)
07:05 Even the rice producers now are selling way,
07:09 way above their peers, right?
07:10 (speaking in the background)
07:14 The government is,
07:18 it's not beyond the government to continue finding a way
07:21 to partially subsidize making hollow fertilizer
07:25 in the water.
07:27 So you can now take advantage of the hybrid rice,
07:31 hybrid seeds, and very, very efficiently pinpoint
07:35 what type of fertilizer,
07:36 where the right fertilizer to the right seeds,
07:40 (speaking in the background)
07:41 So you can then increase the output per hectare,
07:45 you can increase the tonnage per hectare.
07:48 So that's all being done.
07:49 So we have the subsidies that will still be there.
07:54 We have our card program,
07:55 our cash assistance, rice distribution.
07:57 So we're supplementing through the DSW,
08:00 the AYUDA for those persons in need.
08:06 By the way, we have now a new program.
08:10 We're trying to cast a wider net.
08:11 Those are for the poorest of the poor.
08:13 We're trying to cast a wider net for the near poor,
08:16 (speaking in the background)
08:17 Next level.
08:18 So we're going to try to capture up to 15 million families.
08:22 So that's 60% of the population already.
08:25 (speaking in the background)
08:29 The near poor are those who are very, very much affected
08:33 (speaking in the background)
08:37 So that's what this new 2024 budget is taking into account.
08:48 We're trying to cast a wider net.
08:50 So even with our card,
08:52 I think you've heard of the Boundary of Filipino Service.
08:54 We're going to try to make,
08:56 increase the number of beneficiaries
08:58 by redefining the beneficiary basket.
09:03 (speaking in the background)
09:07 So, near poor.
09:08 (speaking in the background)
09:11 (speaking in the background)
09:15 (speaking in the background)
09:19 (silence)
09:22 (clicking)
09:24 (dinging)
09:27 [BLANK_AUDIO]
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