While the executive branch moves forward on the economic plan, there are positive signs that congress will pass the first installment of tax measures before yearend, which we welcome wholeheartedly.

The morale of our troops is high despite the corruption controversy hounding the AFP.

The moves against high level corruption are being taken in a positive light as part of the overall effort to uphold military justice and professionalism.

Morale and discipline are the primary concerns of the command at a time when we are keeping a constant alert against terrorism and insurgency.

There is no need for loyalty checks.

Texas Instruments Inc., the leading US-based chipmaker, will invest an additional $300 million in the Philippines over the next three years to increase its product output in the country.

Norberto Viera, president of Texas Instruments Philippines, Inc., said the additional investment would be used to increase by as much as 50 percent the production of the company at its 25-hectare complex in Baguio City.

He said the new investments would be used to manufacture new products, including the high-performance chips used for networking and software application, and the stack die used in 3G phones.

Viera said the expansion comes on the heels of expectations that revenue this year would increase to $3 billion from $2.7 billion last year due to an increase in demand, particularly for mobile phones.

Texas Instruments manufactures a chip known as a digital signal processor which converts analog signals to digital. The chip is used in Nokia and Sony Ericsson mobile phones.

With the new investment, Texas Instruments Philippines, Inc. will also manufacture new products, including stack die, which is used in 3G phones currently manufactured in South Korea and Japan for mobile phone makers worldwide, Viera said.

Meanwhile, the Semiconductors and Electronics Industries in the Philippines, Inc. (SEIPI), said they are expecting a 10-percent export growth this year bolstered by an increase in investments in the electronics industry.

Ernie Santiago, SEIPI executive director, said new investments in the industry from January to May this year hit $300 million, a sharp increase over the $230 million posted for the whole of 2003.

President Gloria Macapagal-Arroyo today led the goundbreaking ceremony for one of the world's largest transport passenger terminals, the North Edsa Road-Rail Terminal along Edsa in Quezon City.

The President arrived at 10 a.m. at the Metro Rail Transit (MRT) 3 Depot at the corner of Edsa-North Avenue in Quezon City and led the laying of the time capsule of the three-kilometer project.

The undertaking is a joint project of the Metro Manila Development Authority (MMDA) and the North Triangle Depot Commercial Corporation in collaboration with the Quezon City government, MRT Corporation, and the Department of Transportation and Communication (DOTC).

The President was assisted by DOTC Secretary Leandro Mendoza, MMDA Chairman Bayani Fernando, Speaker Jose de Venecia, Jr. and Quezon City Vice Mayor Herbert Bautista.

The terminal complex is a component of the Greater Manila Mass Transport System (GMMTS), established under Executive Order No. 179, to decongest Metro Manila and ensure the convenient and efficient travel of commuters.

The GMMTS seeks to interconnect the different modes, particularly the road and rail systems. The terminal complex, with a total land area of 6,808.95 sq.m., is part of the overall plan for the GMMTS North Terminal, which is least costly to the government in terms of financial exposure.

The terminal has an average of 17-meter frontage, 18 taxi slots, 51 FX/van slots, 11 provincial bus slots, and 10 loading and unloading bays for city buses.

Fernando said the project is a "showcase of the close partnership between government and the private sector in their constant pursuit of solutions to the seemingly insurmountable transport problems of Metro Manila."

BALAGTAS, Bulacan - President Gloria Macapaga-Arroyo today inaugurated the P15.29-million Matungao bridge across the Guiguinto River that connects the towns of Bulacan and Balagtas.

Upon arrival at the project site, the President unveiled the marker at the foot of the bridge as some 500 excited Bulakenos watched the proceedings.

Accompanying her during the unveiling rites were Public Works Undersecretary Bashir D. Rasuman, Bulacan Governor Josefina dela Cruz, Bulacan Representative Wilhelmino Sy-Alvarado and Bulacan Mayor Rick Meneses.

After the unveiling ceremony the President walked from one end of the 60-meter span to the other in a brief survey of the latest public works project completed in Bulacan.

She also shook hands with the people who had gathered at the new bridge hours before the arrival of the presidential party from Manila.

The Department of Public Works and Highways (DPWH) said the new span will provide a more reliable infrastructure link with greater design capacity and enhanced seismic resistance. It will also enhance the inter-urban transport in the towns of Bulacan and Balagtas as well as other parts of Bulacan province.

Press Secretary Ignacio R. Bunye today reiterated that the morale of the troops is high despite the corruption controversy hounding the Armed Forces of the Philippines.

In a statement, Bunye said the moves against high level corruption are being taken in a positive light as part of the overall effort to uphold military justice and professionalism.

"Morale and discipline are the primary concerns of the command at a time when we are keeping a constant alert against terrorism and insurgency," Bunye said.

The Presidential Spokesman stressed that there is no need for loyalty checks and that the allegiance of soldiers to the Constitution, the people and the Chain of Command is unbreakable.

In a radio interview this morning, Bunye said the dinner meeting of President Gloria Macapagal-Arroyo with the Philippine Army field commanders was a spur-of-the-moment thing as she got wind of the fact that the officers were attending a two-day leadership seminar in Fort Bonifacio.

Bunye said the President explained the ongoing process of investigation and that the battalion and brigade commanders accepted the fact that this is part of the "cleansing of the ranks."

"At ang dumalo ay patuloy na nagsasabi na mataas ang morale ng ating kasundaluhan dahil hindi naman pinapalampas itong mga katiwalian sa AFP (And those who attended went on to say that the morale is high among the troops because we do not let corruption go unpunished)," Bunye said.

CALUMPIT, Bulacan—President Gloria Macapagal-Arroyo today inaugurated the P60-million Labangan-1 Bridge that will enhance the inter-urban transport network in the towns of Calumpit and Malolos and help boost economic activities in the province of Bulacan.

In the inaugural drive-thru the new span this mid-noon, the President took a ride aboard a pick-up along with Bulacan Governor Josefina dela Cruz, Calumpit Mayor James de Jesus, Bulacan 1^st District Representative Wilhelmino Sy-Alvarado, and 3^rd District Rep. Lorna Silverio.

Also with the President were San Rafael Mayor Ricardo Silverio, Transportation and Communications Secretary Leandro Mendoza, Philippine International Trade Center (PITC) chairman Roberto Pagdanganan and officials of the Department of Public Works and Highways (DPWH).

"This newly constructed Labangan-1 along the McArthur Highway would benefit their businesses and would make life easier to every Bulakenos," the President said in a chance interview at the residence of Congressman Alvarado.

She said that with the completion of the new bridge traffic flows in North Manila would greatly improve to the benefit of business enterprises and industries in Bulacan.

Asian Development Bank (ADB), Japan Export-Import Bank (JEXIM) and the Philippine government funded the Labangan-1 Bridge project.

The project started last on Nov. 25, 2002 and was completed last week.

Also present during the inaugural ceremony were DPWH Undersecretary Bashir Rasuman, Assistant Secretary Manuel Agyao, ADB representatives Patrick Giraud and Shihiru Date, and Japan Bank for International Cooperation (JBIC) representative Shinya Kondo.

CALUMPIT, Bulacan—President Gloria Macapagal-Arroyo today told local officials here she remains confident that Congress would approve the 2005 General Appropriations Bill before yearend.

The President motored to Bulacan this morning for the inauguration of two new bridges and to touch base with local officials and the people of this province.

"I still hope that the 2005 General Appropriation Bill, which I signed as priority measure will be passed by the Congress," she said.

She added that the sooner the 2005 national budget is approved, the better for the country’s economic stability.

But the President said that aside from the national budget, it was also important that the revenues bills she has certified to Congress as urgent would be approved to enable the government to resolve the burgeoning deficit.

She added that approval of the eight priority revenue-generating measures would pave the way for the country to bounce back to economic stability.

"The other important things for the legislators is the adoption of the revenue generating bills I am pushing to help our country to bounce back to economic stability," the President said.