The Small Business Corporation (SBCorp), the financing arm of the Department of Trade and Industry (DTI), offers a variety of programs and services to support Micro, Small, and Medium Enterprises (MSMEs) in the Philippines. These programs include:
Continue reading SBCorp Unveils Dynamic Loan Programs to Empower Filipino MSMEs and Boost Economic Growth
Category Archives: Latest News
Revitalizing Supply Chains: DTI’s Strategic Roadmap for a Thriving Philippines
Undersecretary Mary Jean Pacheco addressed the Logistics Summit 2024, outlining key Supply Chain and Logistics Issues in the Philippines, such as Infrastructure, Skills, Land, Sea, Air, and Digitalization. The Department of Trade and Industry (DTI) responded by launching initiatives to (1) Ensure accessible and affordable food, (2) Implement targeted interventions for priority industries, and (3) Foster industries meeting domestic demand.
To tackle food accessibility and affordability, DTI devised a Three-Year Food Logistics Action Agenda, endorsed in August 2023. This agenda focuses on optimizing food distribution, reducing transport costs, enhancing logistics infrastructure, and strengthening enforcement against malpractices. It also emphasizes leveraging ICT for efficiency.
Continue reading Revitalizing Supply Chains: DTI’s Strategic Roadmap for a Thriving Philippines
Introducing HOFFA: Revolutionizing Freight Forwarder Accreditation
The Department of Trade and Industry (DTI) and its partnered agencies are advocating for the establishment of a unified accreditation system for air and sea freight forwarders, known as Harmonized Online Freight Forwarding Accreditation (HOFFA).
DTI Undersecretary Mary Jean Pacheco mentioned that 90% of the system has already been completed, with the remaining 10% focused on tasks like data migration and aligning reports.
Continue reading Introducing HOFFA: Revolutionizing Freight Forwarder Accreditation
Philippine exports surpassed $100 Billion in 2023
The Philippines achieved a historic milestone in 2023 as the total exports of goods and services reached USD 103.6 billion, marking a remarkable 4.8% increase from the recorded export performance of USD 98.83 billion in 2022. However, this falls short of $23.2 billion below the 2023 target outlined in the Philippine Export Development Plan (PEDP).
Director Bianca Pearl Sykimte of the Export Marketing Bureau (EMB), concurrent Executive Director of the Export Development Council (EDC), reported that the Agriculture and Agri-Based Exports sector reached 6.6%, surpassing the 2023 target of 5.1%. Similarly, the ambitious target for the Transport Products also demonstrated significant growth, breaching 5.4% in 2023, exceeding the expected target of 4.2%. Continue reading Philippine exports surpassed $100 Billion in 2023
ARISE Plus Philippines spearheads AEO program optimization for Bureau of Customs readiness
ARISE Plus Philippines led the workshop on optimizing the Authorized Economic Operator (AEO) Program for Bureau of Customs Readiness, focusing on advanced supply chain and logistics principles to raise awareness among economic operators.
The workshop comprised six sessions explaining how the AEO program can serve as a Future Game Changer, highlighting its tangible benefits to companies. Coca-Cola Beverage Philippines Inc. (CCBPI) and Toyota Motors Philippines (TMP) shared their experiences with the AEO program. Topics covered included support for Mutual Recognition Arrangements (MRAs), the use of modern technologies to bolster the AEO, the AEO Scheme for SMEs, and initiatives such as green customs and digitalization. Continue reading ARISE Plus Philippines spearheads AEO program optimization for Bureau of Customs readiness
EDC to Oversee IBPAP’s call for unified LGU regulations
The Information Technology and Business Process Association of the Philippines (IBPAP) President Jack Madrid raised the ongoing challenges posed by the inconsistencies in local government rules. These laws and regulations show varying and inconsistent interpretations in few cities. He noted that the Local Government units (LGUs) may have differing procedures for renewing local business permits, with some even requiring employees’ health certificates.
Addressing inconsistencies at the LGU level is a complex issue due to the national government’s limited influence. On the other hand, IBPAP is actively working with lawmakers to identify viable solutions. Continue reading EDC to Oversee IBPAP’s call for unified LGU regulations
PH as notable leader – driving global growth in foreseeable future
The Department of Finance (DOF) Secretary Ralph Recto reported that the Philippines is the fastest-growing economy in the Association of Southeast Asian Nations (ASEAN) leading it to the top (5.6%) based on the actual Gross Domestic Product (GDP) Growth Performance of ASEAN in 2023. Sec. Recto presented that the global growth will be led by Asia’s powerhouses for the next decades, notably by the Philippines. Contributing to this is the massive growth of the transportation and storage, construction, and financial services. Continue reading PH as notable leader – driving global growth in foreseeable future
TIEZA features Online Issuance of Travel Tax Exemption Certificate
To provide convenience and excellent service to PH exporters, the Tourism Infrastructure and Enterprise Zone Authority (TIEZA) features the online issuance of the Travel Tax Exemptio Certificate (TEC). There is no change in the application procedures; exporters shall file their application for travel tax exemption at the authorized recommending agencies: CITEM, DTI-EMB, BITR, and PHILEXPORT for endorsement to EDC, who in turn approves or disapprove the endorsement to TIEZA to be granted TEC. Continue reading TIEZA features Online Issuance of Travel Tax Exemption Certificate
President Marcos inks Tatak Pinoy Act
In his speech, PBBM emphasized that the TP is an exercise to patronize local products and carry out the “Made in the Philippines” trademark.
EDC Enhances Partnership with BOC to Foster Economic Growth
During the Bureau of Customs’ (BOC) 122nd Founding Anniversary, the Export Development Council (EDC) showcased its commitment to collaboration as Deputy Executive Director Elsa De La Paz – Valenzuela represented the EDC within the Customs Industry Consultative and Advisory Council (CICAC).
The CICAC, established under Customs Memorandum Circular (CMC) 02-2024, serves as a consultative body bridging the gap between the BOC and the business-industrial sector. It aims to address pertinent customs and industry-related issues, promote mutual understanding, and strengthen the relationship between the BOC and industry partners.
Continue reading EDC Enhances Partnership with BOC to Foster Economic Growth