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Duterte Administration assures utmost effort in mitigating the impact of the Ukraine-Russia Conflict

DOF Secretary Dominguez assures that the Duterte Administration is closely monitoring developments and is doing its utmost to mitigate the impact of oil and food price increases amidst the ongoing Ukraine-Russia conflict.

During the 2022 Philippine Economic Briefing (PEB), Sec. Dominguez reported the Duterte Administration’s socio-economic reforms over the past six years, including the government’s effort to accelerate economic recovery amid the COVID-19 pandemic. 

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PHILEXPORT at the forefront for legislative agenda at the 19th Congress

The Philippine Exporters Confederation, Inc. (PHILEXPORT) President Sergio Ortiz-Luis, Jr. reported that the group is at the forefront toward the approval of business and MSME-friendly bills in the 19th Congress, including the Magna Carta for MSMEs; Amendments of the Philippine Ports Authority Charter; Open Access in Data Transmission Act; International Maritime Trade Competitiveness Act; National Quality Infrastructure and Other Agriculture-related bills. 

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PRRD ratifies Public Service Act amendment

President Rodrigo Roa Duterte ratified the Public Service Act (PSA) amendment during the ceremonial signing of the law in Malacañang on Monday, 21 March 2022.

This amendment will generate more jobs and lower business costs in the country. The definition of public utilities is limited to industries such as the distribution and transmission of electricity, petroleum and petroleum products, pipeline transmission systems, water pipeline distribution, wastewater pipeline systems, seaports, and public utility vehicles. The above mentioned are the only industries subjected to the 40-percent foreign ownership restriction on public utilities as mandated by the 1987 Constitution.

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PH gears up the ATA Carnet implementation to boost economic recovery

The Philippines gears up the ATA Carnet implementation to boost economic recovery. The  Carnet System grants temporary admission of goods with relief from duties and taxes, simplifying Customs processes. It will particularly benefit the industries in the Tourism Sector, i.e., Meetings, Incentives, Conferences, and Exhibitions (MICE), in cost reduction and simplification of processes for ease of doing business. 

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PH export continues the bullish trend in 2022

The PH export performance continues to grow from the previous year to the early quarter of 2022. January 2022 exports increased by 8.9%, amounting to USD 6.04B from USD 5.55B in January 2021.

Electronics leads the top five export products, which contributed about US$3.50B with a 58 % share of the total goods in January 2022. Followed by other manufactured goods with 7.5%, Cathodes & Sections of Cathodes with 3.8%, Coconut oil with 3.0%, Ignition wiring sets and other wiring sets used in vehicles, aircraft, and ships at 2.9% share.

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Zero Backlog Policy, Paigtingin! 3-7-20, Laging Sundin!

ARTA is the government agency mandated to administer, implement, and monitor compliance with the national policy on anti-red tape and the “Ease of Doing Business and Efficient Government Service Delivery Act of 2018”.

The strengthened version of the law aims to facilitate prompt actions or resolutions of all government transactions. It applies to all government offices, agencies, and other government instrumentalities, whether located in the Philippines or abroad.

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EDC lauds BOC 10-Point Priority Programs for 2022

The Export Development Council (EDC) lauds the Bureau of Customs (BOC) for laying out their 10-Point Priority Program for 2022 during the Media Fellowship Meeting on 27 January 2022 at the Port Area, Manila and via Zoom Conference. Such programs are geared towards full automation of Customs procedures to eliminate face to face transactions. More importantly, Import and Export-related programs are also highlighted including the full implementation of the Authorized Economic Operator (AEO) Program and enhancement of trade facilitation.

For more details on this story, kindly click this link.MRJ 

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PH Electronics export performance soar to greater heights amid the pandemic

The Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) Electronics Export earmarked the growth of the Electronics Export for the year 2021. Based on the Philippine Import and Export Statistics of the Philippine Statistics Authority (PSA), electronics exports rose to US$45.92 billion in 2021 which is 12.90% higher than the US$ 40.67 billion in 2020. For more information, visit https://www.seipi.org.ph/article/december-2021-philippine-electronics-export-performance/. 

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PH Ambassador deposits the ATA Carnet Instrument of Accession to the Istanbul Convention in Brussels

Philippine Ambassador to Belgium, Luxembourg, and the European Union Eduardo José A. de Vega deposited the ATA Carnet Instrument of Accession (IA) to the World Customs Organization (WCO), in the presence of Secretary General Kunio Mikuriya, in Brussels on 17 January 2022.

Said IA was originally signed by President Rodrigo Roa Duterte on 23 June 2020 and was amended on 28 April 2021, following DOF’s manifested reservations. The Senate concurred through Resolution no. 832 on 23 August 2021.

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