Trailblazing. Collaborative. Resolute.
The Employers Confederation Of the Philippines (ECOP) celebrated its 44th annual gathering. This year’s National Conference of Employers (NCE) was creatively themed “Human-Centered Transition for a Just and Sustainable Workplace” The forum tackled strategies for creating unique employee experiences and the critical role that employers should play in making this a reality.
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President Ferdinand “Bongbong” Marcos Jr. (PBBM) welcomes the plan to implement the Private Sector Jobs and Skills Corp (PSJSC) to reform the skills of the Filipino workforce, address jobs, the mismatch of skills, and provide additional employment for the Filipinos.
In the meeting with the Private Sector Advisory Council-Job Sector Group (PSAC-JSG) on 18 May 2023 at Malacañang, PBBM emphasized the need for the collaboration of the government and private sector to generate more jobs.
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The Philippines’ seafood industry, particularly shrimp, is eager to boost and relive the Asian countries’ presence in the global market this year. Fisherfarms, one of the largest seafood processors in the Philippines, in its participation in the Seafood Expo Global 2023, targets to reach its shrimp production to 40,000-50,000 metric tons annually.
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The Philippine Exporters Confederation, Inc. (PHILEXPORT) remains to be the leading and dominant export organization recognized by the government, as the Export Development Council (EDC) unanimously approved the renewal of its accreditation during the Joint Council and Executive Committee meeting on 19 May 2023, chaired by Trade Secretary Alfredo E. Pascual and attended by both public and private sector members.
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Department of Trade and Industry (DTI) Secretary Alfredo Pascual announced that the Regional Comprehensive Economic Partnership (RCEP) pact among 15 economies in the Asia Pacific region is to take effect on 02 June 2023. The full implementation of RCEP will help expand the trade and investment to all signatory countries within 20 years, including eliminating tariff rates — or the taxes imposed on imported products — on 90% of goods.
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Department of Tourism (DOT) OIC Undersecretary for Tourism Development Planning, Verna Covar-Buensuceso presented the DOT’s future plans including the completion of the National Tourism Development Plan (NDTP) 2023-2028 which envisions to transform the Philippines Tourism into a tourism powerhouse in Asia.
Usec Buensuceso cited that the NDTP aims to establish a Philippine tourism industry anchored on Filipino culture, heritage and identity, aims to be sustainable, resilient and competitive in order to transform the Philippines into a tourism powerhouse in Asia.
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The Philippines hosted the first International Ecotourism Travel Mart (IETM), that brings together individuals, experts, organizations, ecotourism practitioners, advocates and exhibitors to learn and network across cultures and showcase products and services that have strong economic components, green technology, and sustainable green practices.
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The Philippine Foreign Trade boosted by 12.9%, amounting to $216.20 billion in 2022 from $191.58 billion in 2021. However, the imports further broadened the country’s trade gap by 38%, according to the Philippine Statistics Authority (PSA) data.
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President Ferdinand R. Marcos, Jr. on his administration’s policy in right sizing bureaucracy, and on the recommendation of Sec. Benjamin Diokno ordered the abolishment of the DOF (Inter-Agency Tax Credit and Duty Drawback Center) OSS Center) and transfers the mandate to the Bureau of Internal Revenue (BIR) and Bureau of Customs (BOC), to assure the orderly and expeditious processing of tax credits and duty drawbacks under various laws.
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Bangko Sentral ng Pilipinas (BSP) Governor Dr. Felipe M. Medalla reported in depth the topic “In Pursuit of Price Stability Challenges and Opportunities,” highlighting that the country’s gross domestic product (GDP) is expected to increase up to 6% amidst pent-up demand together with the target range of easing the inflation within the two to four percent by the end of the year 2023.
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