SEVEN BIG WINNERS SECTORS
Agribusiness
The Philippine agricultural sector comprised 19% of GDP in 2009 and employed 34% of the labor force. Yet agricultural products made up only 8.3% of total Philippine commodity exports and Philippine agricultural exports were the smallest of the ASEAN-5. Table 22 contains agricultural exports and imports of the ASEAN-6 (less Singapore) for 2009 and shows that the Philippines exported US$3.2 billion, a very small amount compared to Indonesia, Malaysia, Thailand, and Vietnam.34 Of the five economies, only the Philippines imported more agricultural goods than it exported. Agricultural exports for the other four economies made significant, positive contributions to their trade balances.
[ Read This Chapter ]
Business Process Outsourcing
Information technology and business process outsourcing (IT-BPO) is the fastest-growing employment and one of the highest revenue generating economic sector in the Philippines today.42 IT-BPO is the biggest of our Seven Big Winners, because of its current size, high growth rate, and potential to employ millions of Filipinos. [ Read This Chapter ]Creative Industries
The Creative Economy is defined as industries which have their origin in individual creativity, skill, and talent and which have potential for wealth and job creation through the generation and exploitation of intellectual property. [ Read This Chapter ]
Manufacturing slump continues
7 June, 2019 at 08:22
A government-wide approach is necessary to boost manufacturing growth amid the sector’s sluggish performance, with the government’s latest manufacturing survey showing both the volume and value of production in the country falling for the fourth consecutive month.
DOF insists: Investors will come sans tax...
6 June, 2019 at 14:46
FAIT accompli. That seems to be the attitude being taken by officials at the Department of Finance (DOF)—a grudging acceptance of Republic Act 11262, the law extending fiscal incentives to tourism enterprise zone (TEZ) locators for another 10 years.
[EDITORIAL] ‘Uncompetitive’ PHL
6 June, 2019 at 14:40
Colgate-Palmolive Philippines Inc. shuttered its manufacturing operations and moved out of the country in 2008. The multinational firm cited the lack of infrastructure and the high cost of water and electricity as some of the factors behind its decision to transfer the production…
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.
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.
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).
[OPINION] Keeping up with technology
27 May, 2019 at 15:25
Technology is changing the way people live in our world today whether we are ready for change or not. Countries resistant to change or simply not ready for change, will find it very difficult to compete against nimbler economic and political rivals.
Tugade eyes privatization of PPA
27 May, 2019 at 15:18
Transportation Secretary Arthur Tugade is targeting to privatize the operations of the Philippine Ports Authority (PPA) before the end of the Duterte administration.
Goodbye, decent broadband!
24 May, 2019 at 10:02
The Senate has approved the creation of a Philippine Space Agency which aims to make us space capable in the next decade. That’s a laugh. We can’t even have decent broadband service in this country and here is the Senate prioritizing the creation of a space agency…
What the country needs in a dict...
24 May, 2019 at 09:56
The drafters of the law creating the Department of Information and Communications Technology (DICT) surely had the best of intentions in setting forth the qualifications of the secretary that would lead the government agency tasked with “the primary policy, planning, coordinating…
DOE starts enticing new power investments
23 May, 2019 at 16:02
Without it admitting yet that it might have missed planning trajectories, the Department of Energy (DOE) is finally stepping up into inviting new power projects to satiate the country’s long-term energy needs.
Vague rules barriers to trade: DICT
22 May, 2019 at 12:01
The inadequacy of laws in information and communication technology (ICT) sector and the vagueness of the scope of power of the Department of Information and Communication Technology (DICT) have resulted in certain barriers in the country’s trade and investment…
Overhaul of mining policies pushed
22 May, 2019 at 11:23
The country’s premier think-tank has urged the government to review its mining policies after its study showed that the current legal framework of the mining sector had too many inconsistencies that gave way to corrupt practices and continued to hinder the industry’s growth.
Low storage costs keep containers in PH
20 May, 2019 at 13:43
The country’s largest truckers association is putting part of the blame for the lingering congestion at the country’s main ports on low storage costs that have allowed international shipping lines to keep empty containers in the country.
