MANILA, Philippines — The net inflow of foreign direct investments (FDI) could easily surpass 2016’s record level amid a more conducive business environment under the Duterte administration, Trade Secretary Ramon Lopez said. “I think we can surpass what we had last year which was $7.9 billion with positive investor confidence in President Duterte’s administration and […]
Read MoreMANILA, Philippines — The implementation of the comprehensive tax reform program as approved by the Senate as well as the House of Representatives would not stoke inflation, according to economists. Michael Wan, economist at Credit Suisse, said the addition to the consumer price index (CPI) under the version of the Tax Reform for Acceleration and […]
Read MoreMANILA, Philippines — The government plans to establish community-based economic zones within war-torn Marawi City to create jobs and livelihood for returning residents and ultimately help the city’s economy to recover, according to the Department of Finance (DOF). During a recent meeting with top officials of the Sumitomo Mitsui Banking Corp. (SMBC), Finance Secretary Carlos […]
Read MoreThe national government’s outstanding debt rose to P6.5 trillion as of the end of October, nearly P60 billion more than the previous month, following the peso’s continued depreciation against the dollar. Domestic borrowings accounted for the bulk or P4.22 trillion with the remaining P2.28 trillion owed to foreign creditors, the Bureau of the Treasury reported […]
Read MoreMANILA, Philippines — The Construction Industry Authority of the Philippines (CIAP), an attached agency of the Department of Trade and Industry, is open to lowering the threshold for Quadruple A license category to open the construction industry to more foreign contractors. Under current rules of the Philippine Contractors Accreditation Board (PCAB), 100 percent foreign owned […]
Read MoreThe government, private sector, and academe must come up with a strategy that would allow the Philippines to capitalize on the opportunities presented by the so-called fourth industrial revolution, or Industry 4.0, Ayala Corp. Chairman and CEO Jaime Augusto Zobel del Ayala said on Wednesday. Industry 4.0 involves involves the automation and data exchange in […]
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