Manila, March 26 -- The government is optimistic that the newly implemented value-added tax (VAT) refund program for foreign tourists would further boost the country's tourism and retail sectors.

In a press briefing in Malacanang on Wednesday, Palace Press Officer Claire Castro said the new scheme is among the government initiatives to increase tourist arrivals and encourage more foreign tourists to spend more in the Philippines, thus bolstering economic growth.

"Ito po ay isang paraan lamang po para mas marami pong turista ang pumunta sa ating bansa at ito din po ay makakapag-engganyo rin po na bumili ng mga produkto dito sa ating bansa (This is one way to attract more tourists to come to our country and encourage them to buy products ...