MAJORITY of the local micro, small and medium enterprises (MSMEs) fail to secure loans due to stringent lending measures—and they end up asking family and friends for additional financing instead to keep their businesses running, according to a study by a cloud banking platform Mambu.
The local automobile manufacturers saw their sales dip by 7.3 percent in February after selling fewer passenger cars (PC), according to a joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (Campi) and Truck Manufacturers Association (TMA).
The Anti-Red Tape Authority (Arta) seeks to automate its complaints management system within the first quarter amid the accelerated shift to digitalization amid the pandemic.
Presidential Adviser for Entrepreneurship Jose Maria A. Concepcion raised the need to keep the country under Alert Level (AL) 1 for the rest of the year in a bid to cushion the impact of the Ukraine-Russia conflict on the Philippine economy, which is being threatened by rising prices of fuel and other commodities.
The Philippines is seen to benefit from the increasing demand for green metals—such as nickel, cobalt and copper—coming from the production of electric vehicles (EVs) and battery supply chains, the Department of Trade and Industry (DTI) said.
While there have been delays, Trade Secretary Ramon Lopez said the signing of the country’s free trade agreement (FTA) with South Korea will be done “soon.”
The Department of Trade and Industry (DTI) renewed calls for the establishment of a free trade agreement (FTA) with the United States as the Philippines seeks stronger economic ties, which is seen to benefit the micro, small and medium enterprises (MSMEs).
The National Committee on Intellectual Property Rights (NCIPR) seized P24.9 billion worth of counterfeit goods from its inspection and raid operations last year.
THE Trade Facilitation Agreement (TFA) among World Trade Organization (WTO) members has helped global supply chains to carry on, but more needs to be done to allow economies to recover from the pandemic.
THE National Privacy Commission (NPC) reminded the public of their rights when using online lending applications (OLA), which have been on the rise as an alternative access to loans amid the accelerated digital shift in pandemic.
BEFORE shelling out too much money for technologies, companies should first identify their needs when executing their digital transformation plans, an expert has advised.
While reopening the country’s borders to vaccinated tourists will boost tourism revenues, a business leader expressed some concerns on its impact on the country’s initiatives to contain Covid-19.