MANILA, Philippines — The Philippines can tap about $49 billion worth of exports by addressing market frictions and investing in increased production, the International Trade Center (ITC) said. In a trade brief, ITC, a joint agency of the World Trade Organization and the United Nations, said the country has an unrealized export potential of $49 […]
Read MoreMANILA, Philippines — The government should tighten its tax watch on the private sector next year to make sure it collects revenues required to carry out recovery measures, economists said. Ateneo de Manila University economics professor Leonardo Lanzona said the government should use the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act to force […]
Read MoreMANILA, Philippines — The impact of COVID-19 on food security in the Philippines and in the region is expected to last beyond the pandemic, which should prompt economies to immediately come up with solutions to avoid long-term damage. In its latest blog, Manila-based Asian Development Bank (ADB) said the pandemic resulted in supply crunch and […]
Read MoreMANILA, Philippines — Businesses are ramping up expansion and hiring more workers as the economy continues to reopen after stalling last year due to strict mobility restrictions brought about by the COVID outbreak, according to the Bangko Sentral ng Pilipinas. BSP senior director Redentor Paolo Alegre said the results of the fourth quarter 2021 Business […]
Read MoreMANILA, Philippines — Japanese firms are looking for opportunities in manufacturing, power, construction and food processing in the country. During the Global Biz Forum organized by the Philippine Economic Zone Authority (PEZA), Department of Trade and Industry – Philippine Trade Investment Center – Tokyo commercial counsellor Dita Angara-Mathay noted there has been an increase in […]
Read MoreMANILA, Philippines (Update 1, 8:08 a.m.) — The Bangko Sentral ng Pilipinas (BSP) yesterday kept interest rates at record lows for its eighth and last policy meeting for the year even as the emergence of new COVID-19 variants poses downside risks to the outlook for economic growth and inflation. In a virtual press conference, BSP Governor Benjamin Diokno said the […]
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