DISASTER RESPONSE. World Bank Group managing director Anna Bjerde (left) and Finance Secretary Ralph Recto sign the Rapid Response Option agreement on April 20, 2024 in Washington, DC. The Philippines is the first country to sign the agreement with the World Bank. (Photo courtesy of DOF) MANILA – The Philippines recently signed the Rapid Response Option (RRO) agreement…
MANILA – The Philippine Economic Zone Authority (PEZA) has registered 23 new projects worth PHP15 billion in April 2024 alone. The investment approvals for this month were higher than the total project registrations from January to March 2024 amounting to PHP14.95 billion. In a statement Monday, PEZA reported that the 23 new projects registered with the…
National Economic and Development Authority (NEDA) Undersecretary Rosemarie Edillon told media they hope to double their Innovation Fund to P200 million next year from their current P100 million outlay. Edillon shared the information with reporters on the sidelines of the 2024 National Innovation Day Celebration at the Novotel Manila Araneta City in Quezon City. She said that aside from…
The World Bank has retained its 2024 Philippine economic growth forecast at 5.8% and expects the country to be the second fastest-growing economy in East Asia and in the Asia-Pacific region. In its April 2024 East Asia and Pacific Economic Update report, World Bank revised upward its 2025 Philippine economic growth forecast to 5.9% from the earlier 5.8% projection. The report showed that the Philippines and…
INVESTMENT CLIMATE. House Deputy Majority Leader and Iloilo 1st District Rep. Janette Garin responds to media queries during a press conference on Monday (April 1, 2024). She said the overall investment climate in the Philippines is improving. (Photo courtesy of House Press and Public Affairs Bureau) House Deputy Majority Leader and Iloilo 1st District Rep. Janette Garin has…
PH hits record-high $104B in goods and services exports in 2023 — MANILA INTERNATIONAL CONTAINER TERMINAL MANILA – Despite global trade challenges, Philippine exports surpassed the USD100-billion mark in 2023. The outbound trade revenue figure is an all time high in the country’s history. In a statement, the Department of Trade and Industry (DTI) said that based on…
The Intellectual Property of the Philippines (IPOPHL) recently reported that intellectual property (IP) through its Innovations and Technology Support Offices (ITSOs) hit an all-time high last year as more universities and colleges joined the Innovation and Technology Support Program. In a statement, the IPOPHL said aggregate IP filings of Innovation and Technology Support Offices which include higher…
TAIPEI, Taiwan – Industry leaders in information and communications technology (ICT) are pushing for international partnerships to further expand the establishment of smart cities worldwide. The stakeholders said partnerships with ICT companies and governments across the world will promote investments that will improve internet connectivity and address the demands of attaining a smart city. “Public-private partnerships…
MANILA – The White House announced on Friday that 22 high-level business executives will be part of the delegation of US Secretary of Commerce Gina Raimondo in her Presidential Trade and Investment Mission to Manila from March 11 to 12. The delegation will be exploring business opportunities in the Philippines as part of the two countries’…
The Department of Finance (DOF) has bared the government strategies referred to as the Growth-Enhancing Actions and Resolutions (GEARs) plan that will ensure the country is on track to achieve a growth-enhancing fiscal consolidation, which in turn will foster an environment conducive to employment-generating investments.Under the GEARS plan, the DOF will act fast on investments…
