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Despite continued disruptions in the global economy due to COVID-related restrictions, the Philippine exports grew by 15.2% from January to November 2021 to $68.4B compared to the same period in 2020, based on Philippine Statistics Authority (PSA) preliminary data. Philippine merchandise exports increased by 6.6% year-on-year (YOY) amounting to $6.3B in November 2021 from $5.9B […]
The passage of the Bacolod Special Economic Zone Act is seen to bring in more investment and employment opportunities on its road to recovery from the coronavirus disease 2019 (COVID-19) pandemic. Lone District Representative Greg Gasataya, who filed the House Bill (HB) 10243 for the purpose, said the legislation aims to strengthen the local economic […]
With the Regional Comprehensive Economic Partnership (RCEP) Agreement set to enter into force on January 1, 2022, securing Senate concurrence to the ratification of the Agreement becomes more urgent for the Philippines. Many economists and international organizations have already expressed views on the value and importance of the RCEP Agreement to the Philippines and to […]
Senator Francis “Kiko” Pangilinan said the government should pool enough investment in the agriculture sector in order for the private sector to be inspired and follow suit. According to the former food security secretary, the deepest pockets in the economy are the private sector, and the Philippine government should leverage on this for the agriculture […]
The infrastructure program anchored on the Build Build Build (BBB) initiative still remains among the top economic priorities of the government. With the Department of Public Works and Highways (DPWH) as one of the lead implementing agencies of the BBB Program, Acting Secretary Roger Mercado highlighted at the 2021 Philippine Economic Briefing with Foreign Chambers […]
The Foreign Trade Service Corps (FTSC) of the Department of Trade and Industry held its 2022 virtual planning conference recently as part of the group’s preparations of its work programs and activities as the Philippines prepares itself for increased economic activity post COVID-19 pandemic. Trade Secretary Ramon Lopez reported that despite the pandemic, Philippines exports […]
Aksyon Demokratiko presidential bet Manila Mayor Isko Moreno Domagoso promised to strengthen local infrastructure to empower the Visayan economy. In an interview after meeting with Cebu Governor Gwendolyn Garcia, Domagoso said building new infrastructure such as bridges, road networks, and railways can lead to the emergence of new economic hubs outside Luzon. Moreno said he […]
The Philippines was named the most improved country in the 2021/2022 Peddling Peril Index (PPI) of countries implementing strategic trade regulations. The Philippines’ ranking increased by 273 points from 482 points the previous year to 755 points, moving up from 86th place in 2020 to 49th place in 2021. “PPI rates 200 nations based on their strategic […]
Department of Trade and Industry (DTI) Secretary Ramon Lopez cited the Philippine gross domestic product (GDP) growth of 11.8% in the second quarter of 2021 as a good start of an economic recovery. This is the highest and fastest growth in over three decades since the fourth quarter of 1988, which posted a growth of […]
The House of Representatives will prioritize the passage of measures aimed at boosting the country’s economic recovery from the impact of the coronavirus disease 2019 (COVID-19). Deputy Speaker Mikee Romero said their focus is on passing the rest of the Comprehensive Tax Reform Program as the third regular session of the 18th Congress formally opened […]