Business

SUBIC BAY FREEPORT – Businessman Eduardo Aliño officially has assumed post as  Chairman and Administrator of the Subic Bay Metropolitan Authority (SBMA). In his first press conference as SBMA chief, Aliño noted the vast potential of Subic should be given priority for development. “We have so many potentials here in Subic and we may put up more hotels, more infra projects to attract more investors,” he said, adding his management…

Department of Finance Secretary Ralph Recto has assured United States officials of the Philippines’ strong commitment to roll out a welcoming “red carpet” to potential investors in the country as directed by President Ferdinand R. Marcos Jr. In a statement, the Finance department said Recto recently met with US officials led by Treasury Department Deputy Assistant Secretary for…

The country’s unemployment rate dipped to its lowest level in November last year, while employment reached its highest since April 2005, the Philippine Statistics Authority (PSA) reported Tuesday. At a briefing, National Statistician Dennis Mapa said results of the PSA’s latest Labor Force Survey (LFS) showed that unemployment rate further dipped to 3.6% during the month, down from the 4.2% recorded…

The Department of Trade and Industry (DTI) which is responsible for generating jobs in the country, has vowed to continue attracting investments that produce higher-quality and higher-paying jobs. During the Bagong Pilipinas briefing Tuesday, DTI Undersecretary Kim Bernardo-Lokin said state  investment promotion agencies (IPAs) are strengthening their investment strategies while improving the ease of doing business in the country to lure…

The Department of Trade and Insustry (DTI) said some P22 billion worth of projects sealed during the foreign visits of President Ferdinand R. Marcos Jr. this year are already operational. DTI Undersecretary Ceferino Rodolfo said at the recent Bagong Pilipinas briefing the projects are part of the P4.019-trillion investment pledges bagged by the Chief Executive during his…

The Board of Investments (BOI) has started collaborating with AgriSpecialist, Inc. (ASI) for the commercialization and promotion of locally-developed bio-fertilizer products. In a statement Friday, the BOI highlighted the BIO-N bio-fertilizer developed by the University of the Philippines Los Baños-National Institute of Molecular Biology and Biotechnology, which is being produced by ASI in its facility…

Atty. Federico Tancongco, Senior Vice President and Chief Compliance Officer of BDO Unibank, one of the panelists at the Unlocking Capital for Sustainability (UCFS) 2023 Forum, discusses BDO’s role in enabling an equitable transition. At the recently held Unlocking Capital for Sustainability (UCFS) 2023 Forum, Atty. Federico Tancongco, Senior Vice President and Chief Compliance Officer of BDO…

𝘚𝘢𝘯 𝘍𝘳𝘢𝘯𝘤𝘪𝘴𝘤𝘰, 𝘊𝘢𝘭𝘪𝘧𝘰𝘳𝘯𝘪𝘢—Department of Tourism (DOT) Secretary Christina Garcia Frasco showcased the country’s tourism gains and recovery efforts post-pandemic, noting that the tourism industry has contributed an estimated USD 7 billion or about PHP 404.02 billion in foreign visitor receipts in the first ten months of 2023. This amount is around 190 percent higher compared…