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The Philippine economy will recover from the impact of the coronavirus disease 2019 (COVID-19) pandemic, Trade Secretary Ramon Lopez said. Lopez made the assurance, as he admitted that the rising number of COVID-19 cases in the country is harming the country’s economic growth. “Initially, NEDA (National Economic and Development Authority) has the computation that the impact […]
Trade Secretary Ramon Lopez is asking for a faster and separate lane through checkpoints for vehicles carrying basic necessities such as agricultural products, food, medical products, and hygiene products to ensure that an adequate supply reaches markets during the enforcement of the enhanced community quarantine in Luzon. Lopez said he had a discussion with the […]
Department of Trade and Industry (DTI) Secretary Ramon Lopez has assured that movement of cargo and thesupply chain of basic goods shall continue even after President Rodrigo Duterte had placed Luzon under an enhanced community quarantine. Lopez said there is an ongoing meeting in the government discussing its next steps for the enhanced community quarantine […]
Lopez said the DTI is urging President Rodrigo Duterte to issue an executive order (EO) to prosecute those who had raked-in unfairly large profits on products which are in demand during this situation and those who hoard goods whether for their own consumption or re-sale at higher prices.The trade chief said Duterte has agreed with […]
Trade Secretary Ramon Lopez lauded the Senate version of the Corporate Income Tax Incentives and Rationalization Act (CITIRA) sponsored by Senator Pia Cayetano. The new bill not only balances the concerns of many stakeholders, offering a longer transition period for high performing investments (e.g. 100% exportation or employing over 10,000 people), but also removes the […]
The Philippine government launched recently the National Business One-Stop Shop (NBOSS) at the Securities and Exchange Commission (SEC), with the aim of integrating the processes of different agencies in one location for one-person corporation applicants. NBOSS is a physical co-location for agencies related to starting a business including the SEC, the Bureau of Internal Revenue, […]
Trade Secretary Ramon Lopez said a company is interested in buying the manufacturing facility of Honda Cars Philippines, Inc. (HCPI) in Sta. Rosa, Laguna. At the sidelines of the National Business One-Stop Shop launch, Lopez told reporters that the company that had inquired about HCPI’s Laguna property is an existing firm in the Philippines, but […]
Trade Secretary Ramon Lopez sees uncertainties in the global market as the main reason that pushed multinational companies to shut down, or slow down their operations in the country. Lopez cited that among the uncertainties globally that drive these companies to rationalize their operations include the U.S.-China trade war and the coronavirus disease 2019. “It […]
Car assemblers in the country may look into sourcing parts from local suppliers as productivity in manufacturing powerhouse China has slowed down due to the COVID-19 virus outbreak, Department of Trade and Industry (DTI) Secretary Ramon Lopez said. Lopez said the COVID-19 outbreak can affect the supply chain of the local automotive industry. “Just like […]
Exports by the Philippines reached a record-high of $70.3 billion in 2019 from $69.3 last year despite external headwinds from the global trade policy uncertainties, geopolitical tensions, and country-specific challenges, Department of Trade and Industry (DTI) Secretary Ramon Lopez said. “The relatively strong export performance of the Philippines transpired amid DTI’s strong efforts in attracting […]