MANILA, Philippines — A Senate bill which seeks to raise the excise taxes imposed on alcoholic beverages is expected to generate P236.6 billion in additional revenues over the next five years, according to the Department of Finance (DOF). Finance Undersecretary Karl Kendrick Chua said Senate Bill 2197, as proposed by Sen. Manny Pacquiao, may increase […]
Read MoreMANILA, Philippines — Foreign direct investment (FDI) inflows declined by 4.4 percent to $9.8 billion last year from $10.3 billion in 2017 due to a sharp drop in equity placements as investors were spooked by external headwinds led by the US-China trade war and accelerating inflation in the domestic front. The latest figure was lower than the […]
Read MoreMANILA, Philippines — The Philippines is losing billions of dollars in potential mining investments because of policy stalemate hounding the industry, an independent think tank said. Stratbase ADR Institute said the local mining industry has become stagnant over the past few years with orders banning new mining projects and the open pit method. “Our ability to efficiently […]
Read MoreMANILA, Philippines — More foreign firms are keen on investing in the country’s oil and gas exploration sector, according to the Department of Energy (DOE). Foreign firms have expressed interest in pre-determined areas (PDAs) offered under Philippine Conventional Energy Contracting Program (PCECP), DOE Undersecretary Donato Marcos said. “For the PDAs, there are nine nominations which […]
Read MoreMANILA, Philippines — The country’s economic managers are pushing for amendments in the Constitution to allow for more foreign investors, according to the Department of Finance (DOF). Finance Secretary Carlos Dominguez said while the government has done as much as it can administratively to ease restrictions on foreign investments, there are still parts of the Constitution that limit their […]
Read MoreMANILA, Philippines — The Bureau of Customs (BOC) has issued the interim guidelines for the return of empty containers at the port of Manila (POM) and the Manila International Container Port (MICP) to prevent congestion in the harbors. Customs Commissioner Rey Leonardo Guerrero signed last Feb. 28 Customs Memorandum Order (CMO) 13-2019, which contains guidelines to address […]
Read More
Thailand
