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The Philippine Manufacturing Purchasing Managers’ Index (PMI) increased from 49.2 in December 2020 to 52.5 in January 2021, posting above the 50.0 neutral mark separating expansion from contraction. January PMI data is the highest in 25 months, even prior to the pandemic, signaling improving manufacturing conditions and indicating the start of recovery of the sector. […]
The 1st Virtual National Trade Fair was officially opened recently through an online ceremony. Attendees from remote locations witnessed the event on the website virtualnationaltradefair.dti.gov.ph and on social media channels. From January 27 to February 2, 2021, the Virtual National Trade Fair will be accessible online 24/7. In his keynote address, Department of Trade and Industry (DTI) Secretary […]
The Department of Agriculture (DA), Department of Trade and Industry (DTI), mayors of Metro Manila, and officials of the Metropolitan Manila Development Authority (MMDA) have forged an agreement to impose stricter price control measures on basic food commodities, particularly pork and vegetables being sold in Metro Manila public markets. “We agreed on several strategies to […]
Trade Secretary Ramon Lopez emphasized the need for provisional safeguard measures on the auto industry following news that Nissan Philippines will be shutting its operations. Nissan recently informed the Department of Trade and Industry (DTI) that Nissan will cease assembling its Almera model in the country in line with the group’s global plan to optimize […]
President Rodrigo Duterte has issued Executive Order (EO) No. 123 that retains the 5% tariff rate on imported mechanically deboned meat (MDM) instead of increasing it to 40%. The retention of the 5% MDM tariff prevents any huge price increase in the processed and canned meat products, the Department of Trade and Industry (DTI) said. […]
The Department of Trade and Industry (DTI), in partnership with the Department of Agriculture (DA), has filed charges against 60 traders who violated the Republic Act 7581 or the Price Act. DTI Secretary Ramon Lopez said the two agencies have been partnering with each other to bust profiteering groups taking advantage of the many restrictions […]
Trade Secretary Ramon Lopez highlighted the legislative plans of the Department of Trade and Industry (DTI) to cement closer collaboration with the Lone District of Navotas Representative John Reynald Tiangco, the new House Chair of the Committee on Trade and Industry, as they held their first virtual meeting recently. Lopez requested for the assistance of […]
The Board of Investments (BOI) and its partner industry stakeholders recently launched the Cold Chain Industry Roadmap, expecting to flourish as it plays a critical role in maintaining the safety and efficacy of the COVID-19 vaccines. The Cold Chain Industry Roadmap lays down the blueprint for industry expansion towards the “new normal” adept in coping […]
Trade Secretary Ramon Lopez expressed confidence in a more optimistic business outlook for 2021 in reaction to the latest Social Weather Stations (SWS) report of the November 2020 Net Economic Optimism. The report, conducted from 21 to 25 November, indicated that 42% of Filipinos expect the local economy in better shape in the next 12 […]
The Department of Trade and Industry (DTI) is adjusting safeguard duty for imported cement this 2021 for the second year of the imposition of the trade remedy. DTI-Bureau of Import Services director Luis Catibayan said safeguard duty this year is being eyed at P9.80 per 40-kilogram bag of cement, which is higher from the initial […]