The Department of Trade and Industry (DTI) has intensified crackdown against substandard steel products seizing these items from hardware stores to protect the public from the rampant malpractice. “DTI and the private sector are intensifying their campaign against substandard rebars, angle bars...
The automation level among manufacturing firms in the country has remained low, but the Department of Trade and Industry (DTI) said that various initiatives are in place to help local firms catch up. Trade and Industry Secretary Ramon M. Lopez divulged a study at the Manufacturing...
Importation of critical medical medicines, including vaccines, are exempted from value added tax under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act starting January 1, 2021, according to Trade and Industry Secretary Ramon M. Lopez. Lopez said at the Health and the Economic...
The Board of Investments (BOI) expects to sustain its P1 trillion investment generation level next year and growth in exports albeit at a slower pace. Trade and Industry Secretary Ramon M. Lopez, who is also chair of the BOI, said that despite the challenges of the pandemic, the...
(Ali Vicoy/Manila Bulletin) The Philippines net foreign direct investments (FDIs) declined by 8.6 percent to $4.832 billion for the first three quarters this year as against $5.289 billion in the same period last year as the COVID-19 pandemic continued to dampen investor sentiments. “The decline...
Trade and Industry Secretary Ramon M. Lopez expressed hopes that the unemployment rate in the country could go back to the pre-COVID level as he expects wider reopening of the domestic economy and easing of quarantine restrictions by the first quarter next year. Trade and Industry Secretary Ramon...
Trade and Industry Secretary Ramon M. Lopez has raised the possibility of discontinuing some of the P33-billion worth of procurement projects being undertaken by the Philippine International Trading Corp. (PITC). Lopez said this at the House committee on trade and industry virtual meeting,...
Consumer advocacy group Laban Konsyumer Inc. (LKI) has urged the Department of Trade and Industry (DTI) to strictly enforce the “no GC expiry” law as complaints of expiring gift checks, gift cards or gift certificates ensue around this Christmas season. LKI President and convenor Atty. Victorio...
After several months into this pandemic struggle, the local economy has seen positive signs that the market is beginning to adapt. “As we started to ease up the situation or the restrictions, most of the Micro-, Small and Medum Enterprises (MSMEs) are already going back to their normal...
Trade and Industry Secretary Ramon Lopez said the latest jobs report by the Philippine Statistics Authority (PSA) indicates that the country is on the right track towards recovery. Lopez noted that PSA’s Labor Force Survey (LFS) recorded an employment rate in October at 91.3 percent, the highest...
The Department of Trade and Industry (DTI) has given in again to the demand of domestic cement manufacturers as it hiked the second year safeguard duty to P9.80 on 40-kilogram bag imported cement, almost at the same level as last year’s P10 duty and higher than the original P9 duty it ordered...
Lower goal of $122 B in 2022 ‘doable’ The Philippine Export Development Plan (PEDP) is currently under review whether or not the country’s export target, even the lower end-target of $122 billion in 2022, is still doable given the continuing challenges posed by the COVID-19 pandemic. Trade...
