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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 […]
The significant drop in the number of families that experienced involuntary hunger in the National Capital Region (NCR) is an indicator that safely resuming economic activity can help families earn enough income in order to ensure that they have enough to eat––and should be replicated in other parts of the country to help prevent hunger. […]
The Senate approved on third and final reading a measure that aims to further relax qualifications for foreign retailers to enter the Philippines. Voting 20-0-0, the chamber passed Senate Bill No. (SBN) 1840 seeking to amend Republic Act (RA) No. 8762, otherwise known as the Retail Trade Liberalization Act (RTLA) of 2000. “The proposed measure […]
Fresh off a 25-month high in January, the Philippine manufacturing sector output remained steady in February, according to a survey conducted by IHS Markit. The Purchasing Manager’s Index (PMI) for the country sustained its figure at 52.5, still above the benchmark of 50 that distinguishes expansion from contraction. IHS Markit said operations inched up […]
Department of Trade and Industry (DTI) Secretary Ramon Lopez called on the 52 graduates comprising of micro, small, and medium enterprises (MSMEs) in the trade agency’s 3A (Accept, Adapt, and Act) Program to scale up as the country gradually reopens the economy in the wake of the COVID-19 pandemic. “You should scale up so as […]