Firms told to submit privacy incident reports by March
THE National Privacy Commission (NPC) is setting a March deadline for the submission of the 2017 Annual Incident Report of personal information controllers (PICs).
Peza eyes ‘reverse trade’ tack to reduce imports
The Philippine Economic Zone Authority (Peza) is eyeing to embark on a so-called reverse-trade fair this year in a bid to lessen the country’s dependence on imports.
Too late the hero: Peza suspends mall, BPO company in deadly Davao City fire
The Philippine Economic Zone Authority (Peza) has issued suspension orders for both the New City Commercial Center (NCCC) mall in Davao City as an ecozone developer and business-process outsourcing (BPO) firm Research Now SSI following a deadly pre-Christmas blaze that killed 37 BPO workers.
PEZA adjusts 2018 targets
The Philippine Economic Zone Authority (Peza) has downscaled its investment pledges target to a modest 10 percent for 2018, and is eyeing similar conservative targets for exports and employment.
HBAC’s P490-million plant secures government approval
THE P490-million sugar-mill plant of HDJ Bayawan Agri-venture Corp. (HBAC) recently received approval from the Board of Investments (BOI).
DTI to spur MSME growth to half of national output
THE Department of Trade and Industry (DTI) sees the economic contribution of the micro, small and medium enterprises (MSMEs) segment to steadily grow to at least half of the country’s national output if continued efforts are pursued.
Auto industry to feel TRAIN’s impact on sales, local production next year
The auto industry is expected to feel the impact of the “disappointing” provisions of the Tax Reform for Acceleration and Inclusion (TRAIN) Act next year in terms of sales and domestic production, with the higher excise tax negating the benefits to be gained from incentives accorded to locally assembled vehicles.
Massive infrastructure push seen boosting investment pledges by 10% in 2018
The rollout of big-ticket infrastructure projects would make the Philippines more attractive to investors and increase investment pledges approved by the Board of Investments (BOI) by at least 10 percent next year, according to Trade Secretary Ramon M. Lopez.
BOI-okayed investment pledges hit record high
The reported negative buzz created by President Duterte’s bloody war against illegal drugs in the international community apparently failed to drive investors away from the Philippines, as investment pledges approved by the Board of Investments (BOI) reached P616.7 billion this year, the agency’s best performance in its 50-year existence.
Isuzu to roll out eco-jeeps in January
Isuzu Philippines Corp. (IPC) will pilot test a prototype of its modern, eco-jeepneys in select Metro Manila routes starting January next year, according to a company official.
JFC wants Duterte to get special powers vs traffic
Businessmen belonging to the Joint Foreign Chambers (JFC) asked Congress to enact a measure mandating the grant of emergency powers to President Duterte to solve the traffic crisis.
Uber hack prompts NTC to link with Apec probers
THE massive breach in data held by Uber Technologies Inc., which includes those of Filipinos, has prompted the National Privacy Commission (NPC) to establish links with international authorities.
Steel consumption at pace with PHL growth–SAMC
STEEL Asia Manufacturing Corp. (Samc) sees the rate of growth of the country’s steel consumption at pace with the economy’s upward tempo.
DTI eyes import substitution to rev up manufacturing sector
The Department of Trade and Industry (DTI) is eyeing to adopt an industrial policy of import substitution to rev up the country’s manufacturing sector.
DTI sees car sales hitting 1 million by 2025
The Department of Trade and Industry (DTI) expects sales of automobiles to reach almost 1 million units by 2025, despite the possible increase in excise tax on cars under the proposed tax-reform package of the Duterte administration.
Info of local Uber users included in hack–NPC
FILIPINOS’ personal information have been compromised in the global data breach of California-based Uber Technologies Inc., according to the National Privacy Commission (NPC).
Shopee eyes cornering mobile shopping space
ONLINE market Shopee intends to further corner the mobile shopping space, as it sees further growth in mobile commerce (m-commerce) versus other types of channels in the medium term.
BOI okays 3 tourism projects worth P1.13 billion
THE Board of Investments (BOI) has approved three tourism projects worth a total of P1.13 billion under the Special Laws List on Tourism facilities in the 2017 Investment Priorities Plan.
Local business still not ready to embrace IB concept–survey
Filipino businesses have been found to have a low level of awareness and engagement with the poor, notably in their operations, a joint survey by the Board of Investments (BOI) and the United Nations Development Programme (UNDP) showed.
House endorses socialized-housing bill for Senate approval
The House of Representatives has endorsed for Senate approval a measure that aims to strengthen the right of the government to expropriate lands for socialized housing.
Japan to help prepare Filipino construction workers for ‘golden age of infrastructure’
The Philippines and Japan have signed a cooperation agreement for the joint implementation of a training program, to prepare Filipino construction workers for Manila’s “Build, Build, Build” infrastructure program.
Hyundai posts 33% growth in PHL sales
HYUNDAI Asia Resources Inc. (Hari), the official distributor of Hyundai vehicles in the Philippines, registered a 33-percent increase in year-on-year sales in October.
Uber data breach to undergo privacy commission scrutiny
The National Privacy Commission (NPC) on Thursday said it will undertake an assessment of the impact of the reported massive data breach of transportation network company Uber Technologies Inc. and the possible effect on local drivers and users.
BOI reports 38-percent hike in investment approvals in first 10 months of 2017
The Board of Investments (BOI) has posted a 38-percent improvement in investment approvals from January to October, reaching P408.7 billion in the first 10 months of the year.
‘BPO sector to end 2017 on positive note’
The Information Technology and Business Process Association of the Philippines (Ibpap) remains optimistic that the business-process outsourcing (BPO) sector will post positive growth by the end of the year.
PLDT, Globe sponsor major ICT awards
PLDT Inc. and Globe Telecom Inc. will be handing out the major recognition to two business-process outsourcing (BPO) firms at the 12th International Information and Communications Technology (ICT) Awards
Peza investment pledges up nearly 90% in January-October
Investment pledges registered at the Philippine Economic Zone Authority (Peza) in January to October jumped by almost 90 percent to P203.18 billion, from last year’s P107.34 billion.
Small stores, eateries start petition vs tax on SSBs
Some 300,000 low-income patrons and owners of sari-sari (community) stores and carinderia (small restaurants) all over the country have signed a petition asking the government to scrap a proposed on sugar-sweetened beverages (SSB) now pending in the Senate.
Automobile firms post high sales in 10 months
COMBINED sales of car companies increased by 16 percent from January to October, according to the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and Truck Manufacturers Association (TMA).
BCDA, China Development Bank eye faster completion of ‘BBB’ projects
The Bases Conversion and Development Authority (BCDA) and China Development Bank (CDB) have signed a memorandum of understanding (MOU) on the crafting of a framework for financing cooperation to speed up the implementation of infrastructure projects worth $4.5 billion under the government’s “Build, Build, Build” (BBB) program.
PHL, US set to start talks on trade deal this month
Manila is sending a mission to Washington later this month to begin preliminary talks on the US-Philippines free-trade agreement (FTA) that was discussed by President Duterte and his American counterpart Donald J. Trump in their bilateral meeting early this week.
Medvedev sees improving Russia, Asean economic ties
The head of state of one of the world’s largest energy producer, the Russian Federation, sees increased cooperation with Association of Southeast Asian Nations nations in various areas, including energy transfer, agriculture, navigation and financial services, amid modest trade and investment between the two parties.
Asean got 20% less FDI in 2016–report
Inflows of foreign direct investments (FDI) to Association of Southeast Asian Nations dropped by 20 percent in 2016 to $96.7 billion, according to the Asean Investment
Report 2017 released during the Asean Business and Investment Summit on Monday.
India, PHL relations seen warming with Modi visit
ECONOMIC relations between India and the Philippines are expected to be reinvigorated if the visit this week by Indian Prime Minister Narendra Modi leads to easing restrictions.
Asean, Hong Kong ink free-trade deal
Members of the Association of Southeast Asian Nations and the Hong Kong Special Administrative Region signed a free-trade agreement and an investment agreement last Sunday.
Asean businessmen to talk infra
World leaders and the industry captains in member-states of the Association of Southeast Asian Nations will discuss key economic issues, such as the Duterte administration’s infrastructure program and the state of entrepreneurship in the Philippines on Monday.
Study shows ride-sharing services can keep a million private cars off Metro Manila roads
Transport-network company Uber said ride-sharing services can help reduce the volume of private vehicles on Metro Manila roads by about a million, thus, easing the traffic congestion in the metropolis.
BOI okays 2 tourism projects in Cebu and Albay provinces
THE Board of Investments (BOI) approved two tourism projects worth P427 million in Cebu and Legazpi, Albay.
Coco-fiber exporter gets fiscal perks from BOI
The Board of Investments (BOI) has approved the grant of incentives to coconut fiber producer All Bright Resources International Inc. for its P30-million export project.
BPO firms eye reskilling as AI may lead to job loss
RESKILLING employees rather than external hiring is a priority for organizations as new technology, especially artificial intelligence (AI), now demands new skills in information-technology and business-process management (IT-BPM) services.
IT leaders, government eyeing upgrade of curriculum to prepare for AI
The Philippine Software Industry Association (PSIA) and the government are eyeing to update the higher institutions’ academic curriculum on software and information technology (IT) education so the country’s to prepare the work force for the scaling up of the industry to artificial intelligence (AI) and automation.
Executive Secretary green lights set up of 25 ecozones–PCC I
THE Office of the Executive Secretary has recommended to President Duterte the issuance of presidential proclamation for the setup of 25 new ecozones, according to the Philippine Chamber of Commerce and Industry (PCCI).
DTI continues to provide livelihood aid to people displaced by Marawi conflict
THE Department of Trade and Industry (DTI) continues to distribute livelihood-assistance packages and conduct training to families displaced by the Marawi conflict.
EU sets aside Duterte tirade, says bloc will extend aid to Philippines
The European Union (EU) will continue to disburse development aid it has previously pledged to the Philippines, estimated to be worth around €200 million, with €55 million earmarked for the rehabilitation of war-devastated Marawi City.
CIA holds 8th CRK North PHL Roadshow in Malolos, Bulacan
CITY OF MALOLOS, Bulacan—The Clark International Airport (CIA) held on Thursday its eighth CRK North Philippines Roadshow this year at a hotel in this city.
Government vows to prioritize local contractors in infrastructure program
Despite the planned liberalization of the construction sector, the government will still prioritize Filipino contractors in its massive “Build, Build, Build” (BBB) program, which is seen to require an additional 2.5 million construction workers up to 2021.
DTI’s Davao food-complex project now under way
THE National Development Co. (NDC), the investment-catalyst arm of the Department of Trade and Industry (DTI), said the rolling out of its recently approved Davao Food Complex (DFC) project is under way and options are being considered for its development.
Japan chamber appeals for status quo on grant of Peza incentives
Japanese companies are appealing to Congress to maintain the current incentive scheme of the Philippine Export Zone Authority (Peza), saying the retention is pivotal to keep Japan’s foreign direct investment (FDI) inflow to the Philippines afloat.
Mauswag’s agribusiness project to receive perks
THE Board of Investments (BOI) has approved a P36.4-million agribusiness project to produce malunggay for export by Mauswag Agribusiness Inc.
EU won’t commit if PHL will keep trade privileges
Economic and diplomatic relations between the Philippines and the European Union (EU) are still headed toward different directions, as diplomacy is going south due to President Duterte’s rants against foreign interference in domestic affairs while bilateral trade continues to soar.
BOI eyeing ‘substantial’ subsidy for PUV modernization program
The Board of Investments (BOI) may invest on so-called fixed assets, such as manufacturing or painting facilities, to buttress government support for local body-builders supplying the new jeepneys for the Department of Transportation’s (DOTr) public-utility vehicle (PUV) modernization program.
Steel Asia withdraws bid to purchase NSC
STEEL Asia Manufacturing Corp. will no longer be acquiring National Steel Corp. (NSC) due to bureaucratic issues in the negotiation of the shuttered steel-making facility, opting instead to build their own facilities.
FPI renews push for tighter cement, steel import control
The Federation of Philippine Industries (FPI), representing local manufacturers, is pushing for an equal treatment between importers and manufacturers of steel and cement, as the Duterte administration gears up for a stepped up infrastructure development under the “Build, Build, Build” program.
Czech fintech firm to invest P18.6 billion
PRAGUE, Czech Republic-based Home Credit, a leading financial-technology (fintech) company and one of the biggest Czech firms operating in the Philippines, is looking to invest an additional P18.6 billion as it expands its operations in the country.
Local firms invest P4.6B to make parts for CARS
The government’s Comprehensive Automotive Resurgence Strategy (CARS) Program has yielded P4.6 billion in investments from local automotive parts makers and created 9,000 additional jobs since it started last year.
Paving the way for MSMEs to gain access to cheap credit
When it comes to access to finance, many unbanked Filipino entrepreneurs struggle with the fact that the higher the credit risk of an individual, the slimmer the chances of securing a loan. But things are about to change, as the Department of Trade and Industry (DTI) is in the middle of removing obstacles confronting micro, small and medium enterprises (MSMEs) in accessing cheap credit.
Rebar maker unfazed by high power rates
STEEL Asia Manufacturing Corp. is confident despite the Philippines’s high electricity rates, the country’s largest rebar manufacturer said it can maintain competitiveness due to use of renewable-energy (RE) sources.
BOI sticks to P550-billion investment goal by year-end
The Board of Investments (BOI) have registered P392 billion in pledges as of the first week of October, reflecting a 32-percent growth over the same period in 2016.
Tata distributor eyes local auto assembly
PILIPINAS Taj Autogroup Inc., the distributor of Tata vehicles, is eyeing to locally assemble three commercial vehicle models in the country. The company has also filed an application to the Motor Vehicle Development Program (MVDP) of the Board of Investments (BOI).
Peza investment pledges jumped 94% in first nine months of 2017
Investment pledges registered at the Philippine Economic Zone Authority (Peza) jumped by 94 percent in the first nine months of the year largely due to the economic zone’s development.
Filipino businessmen bothered by political noise
THE Philippine Chamber of Commerce and Industry (PCCI), the country’s largest business organization, advised the Duterte administration to keep its focus on ways to move forward its economic agenda and not to be side-tracked by political spats.
Contact-center industry seeks ways to improve graduates’ employability
Despite its continued growth, the country’s contact-center industry remains saddled with a talent pool that is only 10-percent readily employable up to now.
DTI eyes tighter inspection of all cement imports
The Department of Trade and Industry (DTI) is eyeing to impose “equal treatment” to all imported cement, regardless if the product is brought in by a pure trader or by a manufacturer.
Truck-body maker eyes expanded market share
TRUCK-body builder Centro Manufacturing Corp. is eyeing to capture 20 percent of the market for wing vans in the country, seeing a healthy demand from logistics operators for new units of these utility trucks.
Auckland sees sustained tourist growth from PHL
The New Zealand government sees a sustained inflow of Filipino tourists, with the Philippine Airlines’s (PAL) soon to be launched nonstop flights between Manila and Auckland.
Go Local! outlets to showcase Marawi products
The Department of Trade and Industry (DTI) will showcase products produced by Maranao craftsmen in a bid to assist entrepreneurs from the conflict-ridden area.
EU to assess PHL eligibility for GSP+ perks
The European Union will begin this October a review of the Philippines’s compliance with 27 international treaties and conventions to determine whether the country can continue enjoying trade perks under the EU-Generalized System of Preferences Plus (EU-GSP+).
Isuzu to get involved in PHL’s jeepney-modernization tack
ISUZU Philippines Corp. will be throwing its hat in the ring for the supply of the “modern Filipino jeepney” along the Department of Transportation’s (DOTr) public-utility vehicle (PUV) modernization program.
Ibpap head calls for security tweak in new industry road map
The Information Technology and Business Process Association of the Philippines (Ibpap) will be considering early next year the impact of domestic conflict in achieving targets in their industry road map.
Tax on SSBs contradicts competition law–Arranza
Domestic manufacturers have asked the Philippine Competition Commission (PCC) to look into the possible effects of the proposed sugary drinks tax on the industry’s competition landscape, particularly citing the Senate version that divides sweetened beverages into different tax brackets.
PHL lags behind 3 Asean peers in competitiveness
WHILE the Philippines inched up one spot in the Global Competitiveness Report 2017-2018 by the World Economic Forum (WEF), it has been downgraded among its peers in the Asean.
Gardenia to spend P1 billion for Mindanao factory
GARDENIA Bakeries Philippines Inc. (GBPI) announced an investment of nearly P1 billion in a fully automated bread-manufacturing plant in Mindanao to serve the continuously growing bread demand in the south.
Government infrastructure drive attracts interest of EU firms
The country’s strong economic performance and the Duterte administration’s “Build, Build, Build” program have piqued the interest of European businessmen who visited the Philippines recently to scout for investment opportunities.
Franchisers see 20% sales growth this year
The Association of Filipino Franchisers Inc. (Affi) is aiming for as much as 20-percent growth in sales this year on the back of steady growth of both franchising and nonfranchising members.
BOI grants tax perk, approves launch of P322.7-million steel plant
The Board of Investments (BOI) has approved a P322.7- million steel plant of Portal Steels Inc. that qualifies the upstart company as a new operator under the Investment Priorities Plan (IPP).
Investment pledges rose 38.4% in 1st 8 months of 2017–BOI
INVESTMENT pledges registered at the Board of Investments (BOI) reached P325.8 billion in the first eight months of the year, up by 38.4 percent, from P235.4 billion in the same period last year.
Foreign chambers to PHL: Do better in curbing crime, violence
THE Joint Foreign Chambers (JFC) is hoping to see the Philippines do better in reducing business costs incurred due to high incidence of crime and violence.
Poll shows ‘unyielding’ US confidence to PHL growth
American companies across the Asean remain confident in the region’s continued growth with majority of United States firms embarking on expansion in their initial location, including those in the Philippines, according to the Asean 50th anniversary edition of the 2018 Asean Business Outlook Survey jointly released by the American Chamber of Commerce of the Philippines (AmCham) and the US Chamber of Commerce and the American Chamber of Commerce in Singapore.
Philippines, Malaysia keen on joint ventures for palm oil
THE Philippines and Malaysia discussed the possibility of setting up joint ventures for palm-oil plantations during the Asean Economic Ministers Meeting (AEM), according to the Department of Trade and Industry (DTI).
Asean to dictate terms of RCEP commitments
ASEAN member-states aim to dictate the negotiations on the trade in goods modalities under the proposed Regional Comprehensive Economic Partnership (RCEP)—now composed of 16 negotiating parties—as reflected in the “Key Elements for Significant Outcomes by End of 2017” document endorsed by Southeast Asian economic ministers.
Tokyo, Manila to scrutinize free-trade agreement
Manila and Tokyo are expected to begin the general review of the Philippine-Japan Economic Partnership Agreement (PJEPA) before the end of the year, according to an official of the Department of Trade and Industry (DTI).
DTI eyes building trading posts in areas surrounding Marawi
The Department of Trade and Industry (DTI) is eyeing to rebuild destroyed marketplaces and put up trading posts in areas surrounding Marawi in its bid to jump-start business activity for displaced entrepreneurs even as the conflict in the city continues.
PHL to overtake Thailand in motorcycle sales this year
The Philippines could surpass Thailand’s motorcycle sales this year, despite the difficulties being encountered by the local motorcycle industry, according to the Motorcycle Development Program Participants Association (MDPPA).
Mondelēz execs propose ‘more equitable’ tax on sugar-sweetened beverages
The market leader in powdered beverages and snacks giant Mondelēz Philippines is proposing a more equitable tax base for the Department of Finance’s controversial sugar-sweetened beverage (SSB) tax, suggesting lawmakers and finance officials to base it on sugar content instead of a per-volume basis.
Domestic manufacturers ask government to allow use of palm oil in biofuels mix
The Federation of Philippine Industries (FPI) is calling on the government to amend the Biofuels Act to allow the use of palm oil as an additive and not just coconut oil as currently mandated by the law.
PHL reopens market for British beef
Beef from the United Kingdom will soon return to the Philippines more than two decades after Manila banned it due to concerns over bovine spongiform encephalopathy, or mad-cow disease.
QC, Antipolo named ‘most competitive cities’ in PHL
QUEZON City and Antipolo City emerged as the most competitive cities in the National Competitiveness Council’s (NCC) Fifth Regional Annual Regional Competitiveness Summit and Awards Ceremony held on Wednesday.
DTI eyes bigger MSME budget share for 2018
The Department of Trade and Industry (DTI) is eyeing to allocate P1.4 billion this year to bolster the growth of the country’s micro, small and medium enterprises (MSMEs).
Cebu Air’s P6.1-billion fleet expansion gets government nod
CEBU Air Inc. (stock symbol CEB) has secured the approval of the Board of Investments (BOI) for the listed firm’s fleet expansion.
PHL, U.S. to explore free trade pact in Asean meet
Philippine trade officials are seeking a bilateral meeting with their counterparts in the United States during the 31st Asean Summit and Related Meetings in November to discuss the possibility of forging a free- trade agreement (FTA).
DTI sees investment pledges hitting P550B
The Department of Trade and Industry (DTI) is raising its investment pledges target to P550 billion this year, following the “steady” flow of investments from China.
Sales of commercial vehicles push industry near 2017 target
THE auto industry notched an 18-percent growth after players sold some 233,000 vehicles from January to July compared to 197,447 units that rolled out of showrooms in the same period last year.
DTI seeking P2-billion budget hike from Congress to finance CARS Program
The Department of Trade and Industry (DTI) is asking Congress to increase its 2018 budget by 41 percent, or nearly P2 billion more of its allocation this year, as the agency gears up to release the first tranche of government support for the Comprehensive Automotive Resurgence Strategy (CARS) Program.
PCCI awaits Duterte’s detailed socioeconomic plan
The Philippine Chamber of Commerce and Industry (PCCI) said on Wednesday the Duterte administration may have “overlooked” some of the items on the wish list of reforms the business chamber submitted last year, notably in the areas of information communication technology and ease in doing business. That’s why the PCCI, according to PCCI President George Barcelon, is seeking for a more detailed plan on the administration’s 10-point socioeconomic agenda.
Merger, acquisition deals to be scrutinized by government
THE Philippine Competition Commission (PCC) is placing two mergers and acquisition (M&A) deals under further review, as the deals have raised a possible competition concern.
Fruit Magic to tap upscale segment
FRUIT Magic Co. Inc. is eyeing an aggressive expansion plan this year for its upscale subbrand of fruit beverages, Pure Nectar.
Everest revs up Ford PHL’s July retail sales
THE local unit of American auto brand Ford announced July retail sales rose 8 percent year-over-year, banking on its standard volume-selling nameplates.
Hasten motorcycle registration, LTO told
The Motorcycle Development Program Participants Association (MDPPA) Inc. again asked the Land Transportation Office (LTO) to speed up its registration process, as the backlog of unregistered motorcycles have ballooned to 100,000 units.
Full investigation on cement manufacturers under way
GOVERNMENT scrutiny of the complaint against large cement manufacturers has progressed into a full investigation.
NPCC to let market dictate prices of prime goods in Mindanao
WITH the price freeze in Mindanao already lapsed, the National Price Coordinating Council (NPCC) ruled to allow market forces to determine prices for basic goods and commodities, refusing to set price controls in the region even with martial law in effect.