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President Ferdinand “Bongbong” Romualdez Marcos, Jr., (PBBM) in his State of the Nation Address (SONA) 2022 urged to boost the Tourism Industry as a driver to economic recovery through basic developments in the existing infrastructure in coordination with the Department of Tourism and Department of Public Works and Highways.
Continue reading “PBBM urges Tourism Industry boost”
The Export Development Council (EDC) in its Joint Council and Executive Committee Meeting on 20 January 2021, adjusted the export targets in the Philippine Export Development Plan (PEDP) 2018-2022. The new targets are US$91.7B in 2021 and US$105.3B in 2022.
The adjustments were recommended by the Export Marketing Bureau after a thorough review and simulation considering the world economic situation due to the COVID 19 pandemic, the assumptions of the Development Budget Coordination Committee (DBCC) and the data from the Philippine Statistics Authority (PSA).
Continue reading “EDC sets new export targets amidst pandemic”
DICT responds to the need for an abrupt shift for Digitalization pushed by the global health crisis brought by the COVID-19 Pandemic. The majority of businesses are currently leveraging the use of online platforms to continue their market. As part of the new normal adaptation, online platforms are an excellent measure to sustain their market demand.
The Bangko Sentral ng Pilipinas (BSP) is working with banks on the standardization of the Micro, Small and Medium Enterprises (MSME) loan application process. BSP is also developing the concept note and draft standard loan application form. This initiative aims to streamline/ lessen the requirements of financial institutions and provide more access to MSMEs.
In a press release by the BSP, it has allowed loans to large enterprises and MSMEs to be considered banks’ alternative reserve compliance until end-2022 to help companies affected by the pandemic. Consequently, loans that are guaranteed by the Philippine Guarantee Corporation, the Agricultural Guarantee Fund Pool (AGFP), and the Agricultural Credit Policy Council (ACPC) were assigned a zero percent credit risk weight. This move is meant to encourage banks to lend to small farmers and fisherfolk.
The export industry remains resilient and optimistic to face the global health and economic crisis brought by the covid19 pandemic.
They are now producing in-demand products such as face masks, personal protective equipment (PPE), face shields, and other relevant medical supply needed in this time of pandemic. They have also opened the window to market their products through online platforms. Indeed, these products are potential to the export sector – to cater the world demand in the global market.
The Export Development Council (EDC), in collaboration with the Department of Trade and Industry- Export Marketing Bureau (DTI-EMB) and Philippine Exporters Confederation, Inc. will conduct a series of virtual regional consultations via zoom in Luzon, Visayas and Mindanao comprising the top 10 exporting regions.
Continue reading “PEDP 2018-2022 Virtual Regional Consultations in Luzon, Visayas and Mindanao”
As the COVID-19 pandemic become a hindrance to workers to sustain their everyday living, the Department of Labor and Employment (DOLE) highlighted the implementation of its COVID-19 Adjustment Measures Program (CAMP) to address gaps for the affected workers. Continue reading “DOLE’s CAMP initiative to address gaps for affected workers during the pandemic”
The Technical Education and Skills Development Authority (TESDA) gears up to adapt the “new normal” after the COVID-19 pandemic through its “OPLAN TESDA ABOT LAHAT – TVET towards the New Normal” Operational Plan. In continuous support to the Philippine Export Development Plan 2018-2022, Continue reading “TESDA gears up to adapt the “New Normal””
Amid the global health crisis brought by the COVID-19, the Philippine Government agencies continue to support the export industry as they continue to implement their existing programs in assistance for the Micro, Small, Medium Enterprises (MSMEs). Continue reading “DOST’s support to MSMEs amid the global health crisis”
“The services export is continuously growing, thus, total exports are projected to increase in single digit percentage.” Export Development Council (EDC) Executive Director Senen M. Perlada reported during the EDC Meeting last 06 February 2020. Continue reading “Electronics and Services exports forecast bullish performance in 2020”