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.

During his speech at the 2023 Philippine Economic Briefing, Gov. Medalla mentioned that the pent-up demand continues to drive growth amidst tighter monetary policy. However, he remains confident that the BSP will hit the target to reduce the inflation back to within the two to four percent target range by November or December despite the inflation of 8.7 percent in January. Continue reading → BSP expects 6% GDP growth by the end of the year

President Ferdinand Marcos Jr. has approved the value-added tax refund program for tourists for implementation by 2024, which aims to attract more foreign visitors.

Tourism Services is included as a apriority sectors in the Philippine Export Development Plan (PEDP 2023-2028), and with the vat refund program approved and supported by the administration as proposed by the Private Sector Advisory Council (PSAC) will expec Continue reading → Philippines’ VAT refund for Tourists expects to boost Tourism in 2024 

The new Trade Secretary Alfredo E. Pascual, also the President of the Management of Association of the Philippines (MAP) highlights the ten (10) strategic priorities of the Department of Trade and Industry.

The key priorities aim to create opportunities for DTI and the private sector to work together for shared goals. These will also be the new administration’s focus on improving trade and industry, including export expansion believed to help in job generation and economic recovery in general. Continue reading → DTI highlights 10 Key Priorities for the Trade Industry 

The Department of Information and Communications Technology (DICT) intensifies its programs/ action plans for developing the ICT Ecosystem to adapt to the impact of the pandemic and ensure various sectors’ capacity to participate in the country’s economic recovery.

Consistent with the Memorandum Circular. No. 27 that mandates the implementation of the Philippine Export Development Plan (PEDP), the DICT shall provide support to 1) promotion of trade and investment opportunities, especially in the ICT and ICT-Enabled Services sectors, 2) push for the use of ICT to automate government regulatory processes, and 3) synchronize government systems to ensure ease of doing business.

Among the DICT initiatives to drive the development of the PH ICT ecosystem is the Digital Cities 2025 Project which aims to boost the Information Technology and Business Process Management (IT-BPM) Industry.

Moreover, through its ICT Industry Development Bureau (IIDB), the DICT will give startup founders access to government funding through the Digital Startup Development and Acceleration Program (DSDAP), which supports innovators and startups across the country.

DICT also boosts skills development programs such as (1) digitaljobsPH, which aims to provide basic digital literacy and intermediate ICT skills training in the countryside, allowing Filipinos to avail ICT-enabled jobs; (2)Tech4ED, which allows Filipinos to have access to shared facilities with various ICT-enabled services; (3) Digital Transformation Centers (DTCs), a venue where digital skills will be developed and acquired; (4) Digital Learners and Teachers Project to address pressing challenges in the delivery of basic education in the new normal; and the (5) ICT Academy Project under the Digital Workforce Initiative, a platform for upskilling and reskilling Filipinos.

Secretary Ivan John E. Uy presented the following DICT initiatives during the 43rd National Conference of Employees of Employers Confederation of the Philippines (ECOP) with the theme of “Reimagining the Future of Employment: From Policies to Actions” on 26 August 2022 at Mariott Hotel, Manila.

For updates and further information, visit the DICT website: https://dict.gov.ph.PKC

Newly appointed Department Secretaries: Trade Secretary Alfredo Pascual, Labor Secretary Bienvenido Laguesma, NEDA Secretary Arsenio Balisacan, Tourism Secretary Ma. Esperanza Christina Garcia-Frasco, TESDA Director General Danilo Cruz, together with the DOTr Undersecretary for Planning and Project Development Atty. Timothy John Batan (presented on behalf of Transportation Secretary Jaime Bautista), presented their respective agencies’ policies, plans, and actions at the 43rd National Conference of Employers (NCE) with the theme “Reimagining the Future of Employment: From Policies to Actions”.

This annual event brings together business executives, key government partners, foreign investors, chambers of commerce, and industry leaders to discuss important and developing employment issues, triangular partnerships, worker welfare, economic programs, and difficulties in the workplace. The conference addresses job creation, preservation, and transformation under the concept of “employment generation as a recovery strategy.”  Continue reading → 43rd NCE: Reimagining the Future of Employment from Policies to Action

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

Living in the modern era, moving forward is one of the ways to elevate and survive different industries in this generation. The manufacturing sector, for instance, is already moving towards digital transformation.  In this line, the World Economic Forum introduces one of its projects, the SIRI: Smart Industry Readiness Index. It is a framework and tool that will help the manufacturers to continue and move forward toward digital transformation. Continue reading → SIRI: Move toward Digital Transformation 

The 21st World Travel & Tourism Council (WTTC) Global Summit on 20-22 April 2022, held in Manila, Philippines, is seen as an opportunity to reopen the country to international visitors and to sustain the Travel and Tourism competitiveness and resiliency.

WTTC’s annual Global Summit is the most influential Travel & Tourism event on the calendar. This year, industry leaders gathered with key government representatives to continue aligning efforts to support the sector’s recovery and move toward a safer, more resilient, inclusive, and sustainable future. Discussed in the Summit are the latest travel trends, sustainable investment prospects, regenerative tourism, and seamless travel in a pandemic era, among others. Continue reading → Travel and Tourism competitiveness and resiliency