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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 […]
The Metropolitan Manila Development Authority (MMDA) said Metro Manila mayors support a “gradual” reopening of the economy amid the coronavirus disease 2019 (COVID-19) pandemic. “There should be a calibration of both the health and the economic teams with the local government units and all affected sectors,” said MMDA Chairman Benhur Abalos, in a press briefing […]
Department of Trade and Industry (DTI) Secretary and Board of Investments (BOI) Chairperson Ramon Lopez announced a P1.25T project approval target for the agency in 2021, following total approved investments of P1.02T last year. “We are working hard for a V-shaped Philippine economic recovery in 2021 and are hence targeting the original 2020 pre-pandemic goal for […]
Senator Joel Villanueva lauded Congress’ ratification of the proposed Corporate Recovery and Tax Incentives for Enterprises (CREATE) law that would now cover training incentives to cushion the impact of automation in employed and upskill workers. At the same time, Villanueva challenged the Department of Finance (DoF) and the Foreign Investment Review Board (FIRB) to fulfill […]
Deputy Speaker and Manila 6th District Rep. Benny Abante Jr. on Wednesday expressed support for efforts to amend the economic provisions of the Constitution, and said that the move would allow the country to be more “flexible” and enable it to better respond to global economic trends––a position echoed by the members of the government’s […]