GENERAL BUSINESS ENVIRONMENT
INTRODUCTION
The final section of the Arangkada Philippines 2010 discusses a group of challenges the Philippines faces that are not otherwise discussed in the other sections and makes recommendations accordingly. Most of these issues have been discussed in public in recent years, some from the JFC, but many others from Philippine business groups, several of the Philippine Development Forum Technical Working Groups (PDF-TWGs), the National Competitiveness Council (NCC), and other policy advocates.
These issues complete the picture of the Philippine investment climate and include many of the problems which are highest on lists of concerns in investor surveys, including corruption, laws, judicial decisions, local government actions, and others.
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Business Costs
The Philippines measures poorly in most competitive comparisons with the ASEAN-6 economies, and business costs are an important factor underlying these rankings. The following discusses areas where the country has relatively high business costs, as well as some cost factors where the country is more competitive. [ Read This Chapter ]Foreign Equity & Professionals
In an economy with high unemployment and underemployment, the paramount national interest should be creating jobs in the domestic economy. It follows that attracting more foreign capital, professionals, and technology to create jobs should be a high priority. [ Read This Chapter ]
‘18th Congress must focus on economic reforms...
4 June, 2019 at 09:55
The 18th Congress must prioritize the passage of economic reform bills to encourage more foreign direct investments and guarantee the country’s economic takeoff.
PEZA-approved investments down 25% in January-April
3 June, 2019 at 14:33
Investments for projects registered with the Philippine Economic Zone Authority (PEZA) continued to decline by 25 percent in the January to April period from a year ago on lingering concerns of both existing locators and prospective investors on…
Foreign workers now required to secure TIN
3 June, 2019 at 14:23
Foreign nationals who intend to work or engage in business in the Philippines are now required to register with the Bureau of Internal Revenue (BIR) and get a Taxpayer Identification Number (TIN), according to the agency.
Agri must accelerate growth
31 May, 2019 at 14:09
To further boost the economy, agriculture has to recover from its 10-year low-growth phase and expand by at least 2 percent per annum, said Carlos Dominguez, finance secretary.
Seipi: CIT shift means 80% operating cost...
31 May, 2019 at 13:57
Semiconductor firms on Thursday said their operating cost will increase by as much as 80 percent if they are stripped of their tax incentives under the government’s rationalization plan.
Uncertainty weighs on electronics firms’ plans
31 May, 2019 at 13:52
The country has lost a “billion dollars” worth of investments for chip plant expansion due to uncertainty from plans to change tax incentives, the Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) said on Thursday.
Judicial Reform for a Competitive Future
31 May, 2019 at 13:19
Judicial Reform for a Competitive Future CJ Lucas P. Bersamin | May 21, 2019 Speech delivered by Chief Justice Lucas P. Bersamin during the
IT-BPM steps back as future looks foggy
31 May, 2019 at 09:48
The Information Technology and Business Process Management (IT-BPM) industry has decided to set aside its 2022 road map after an uncertain political climate left its revenues growing below target, casting a shadow on the industry’s prospects.
Trabaho bill threatens PH electronics industry’s existence
31 May, 2019 at 09:43
Electronics manufacturers, the country’s largest exporters, fear that the industry “might dwindle and eventually disappear” in the long term if the Trabaho bill gets passed in its current form.
Back to square one for Public Service...
31 May, 2019 at 09:36
It’s back to square one for the bill amending the 82-year-old Public Service Act (PSA) to lift foreign ownership limits in certain sectors as it will fail to secure final approval with two session days left for the 17th Congress to wrap up its business.
10-year extension of Tieza tax perks to...
29 May, 2019 at 15:22
Some P222 billion in capital investments in the tourism sector are projected for the next 10 years with the recent enactment of a law extending fiscal incentives to locators in tourism enterprise zones (TEZs).
DoF, DILG move to ensure local fees...
29 May, 2019 at 13:37
The Departments of Interior and Local Government (DILG) and of Finance (DoF) are requiring local government units (LGUs) to make sure that their fees and charges are “just and reasonable” and do not impede the conduct of business.
ADB okays $300-M loan for PH education...
29 May, 2019 at 13:26
About 20 million high school students can expect improved access to “high-quality secondary education that responds to labor market needs” as the Asian Development Bank (ADB) approved a $300-million loan to support the Philippine government’s efforts to achieve inclusive growth.
‘Red tape a bane’ 1 year after...
29 May, 2019 at 08:29
One year after President Duterte signed the Ease of Doing Business (EODB) law, the government still has a lot of work to do to cut red tape in the bureaucracy and make transactions easier, according to business executives.
[EDITORIAL] ‘Sin’ taxes must rise
28 May, 2019 at 12:01
Legislators are expected to be busy in the next two weeks tackling the issue of whether taxes on so-called “sin” products such as cigarettes and liquor are high enough to discourage smoking and drinking, but at the same time not kill the industries behind them, to allow the government to get funding for its health care program.
5 more gov’t regulatory agencies join online...
28 May, 2019 at 11:53
Five more government agencies are expected to join the online TradeNet platform this year ahead of the full coverage mandated for 76 regulatory agencies in 2022, according to the Department of Finance (DOF).
