PRRD ratifies Public Service Act amendment

Latest News Transport and Logistics No Comments

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. Continue reading → PRRD ratifies Public Service Act amendment

PH gears up the ATA Carnet implementation to boost economic recovery

Latest News Trade Policy & Procedures Simplification No Comments

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. 
 
The Bureau of Customs (BOC) issued the rules and regulations implementing the system, including the National Issuing and Guaranteeing Association (NIGA) appointment and its duties through CAO 2-2022. Guidelines on the temporary admission include the, i.e., validity period, security and issuance of the Carnets, guarantee and liability of the appointed NIGA, re-exportation rules, payment of claim and refund, goods eligible, and termination of temporary admission following the mandates under the Istanbul Convention. 
Continue reading → PH gears up the ATA Carnet implementation to boost economic recovery

PH export continues the bullish trend in 2022

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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. Continue reading → PH export continues the bullish trend in 2022

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

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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. Continue reading → Zero Backlog Policy, Paigtingin! 3-7-20, Laging Sundin!