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Department of Trade and Industry (DTI) Secretary Ramon Lopez said that for the Philippines to be a production hub of electric vehicle (EV) in the future, government should work on a special program that will attract investors in the different stages of the value chain in the EV industry. The special program can also boost […]
To ensure the implementation of the iron processing plant project signed during the China visit of President Rodrigo Duterte last April, Department of Trade and Industry (DTI) Secretary Ramon Lopez engaged with Chinese investor group to discuss the details of their expansions as well as the menu of incentives provided by the Philippine government. In […]
Trade Secretary Ramon Lopez highlighted the strong macroeconomic fundamentals and the continuing growth story of the Philippines with South Korean business executives during a high-level roundtable meeting in Seoul. Lopez emphasized the opportunities South Korean companies, particularly in the manufacturing industry, may explore when locating and expanding their operations in the Philippines. The trade chief […]
A bill sponsored by Senator Win Gatchalian that seeks to further strengthen the powers and functions of the Authority of the Freeport Area of Bataan (AFAB) was approved by the Senate on third and final reading. Senate Bill No. 2133, or “An Act Further Strengthening the Powers and Functions of the Authority of the Freeport […]
Senator Win Gatchalian said he is considering to propose amendments to the Official Development Assistance (ODA) Act to ensure employment protection of Filipino workers in foreign-assisted projects. Gatchalian, chairman of the Senate committee on economic affairs, made the statement after the announcement of more than $12 billion worth of new investments and trade deals made […]
Administration senators said the decision of President Rodrigo Duterte to withdraw from the International Criminal Court (ICC) has no impact on the country’s economy and justice system. Senator Cynthia Villar said the country’s departure from the ICC is nothing to worry about as Philippine courts primarily tasked to protect the rights of people still function. […]
The Board of Investments (BOI) is targeting to increase investment approvals this year in hopes of breaching the P1 trillion mark. Trade Secretary and BOI Chairman Ramon Lopez said the agency is eyeing a 10 percent growth in investment approvals this year from the P907.2 billion projects it had registered in 2018. Lopez noted that […]
The House of Representatives has approved on third reading House Bill No. 8147 (Energy Virtual One-Stop-Shop Bill) or the EVOSS bill. “The Philippines, under the administration of President Rodrigo Roa Duterte, aims to become a high middle income economy by 2022,” Rep. Lord Allan Velasco said. “The expected increase in economic activity entails an increase […]