Contecon Guayaquil S.A. (CGSA), International Container Terminal Services, Inc. (ICTSI)’s subsidiary in Ecuador, welcomed the creation of a special economic zone at the country’s main seaport to boost foreign trade. This week, CGSA, together with national government and port authority...
The possibility of the government opening up the local market to more imported sugar remains to be one of the major factors why the country’s local sugar production is seen not improving this year or in the next years to come. This, according to international data, has remained to be “the...
Amid the prevalence of African Swine Fever (ASF), state-run lender Land Bank of the Philippines (LANDBANK) has doubled its credit commitment to the local swine industry from P15 billion to P30 billion. This, according to the bank, will help local pork producers and feed millers to repopulate and...
Meat prices continued to rise despite the recent 150 percent surge in pork import volume, casting doubt on the government’s recent move to bring down tariffs on imported pork. A customer pays for pork at a roadside market stall in Mandaluyong City, Manila, the Philippines. (Bloomberg file) “The...
Just as many citizens were looking forward to being footloose for out-of-town Holy Week excursions, the Inter-Agency Task Force (IATF) for Management of Emerging Infectious Diseases announced the enforcement of a General Community Quarantine (GCQ) covering Metro Manila, Bulacan, Cavite, Laguna, and...
Foreign direct investments (FDI) last year dropped 24.6 percent to a net inflow of $6.542 billion from $8.671 billion in 2019, but it was more than the Bangko Sentral ng Pilipinas’ (BSP) $6-billion projection for 2020. “The disruptive impact of the pandemic on global supply chains and the weak...
Japanese motorcycle giant Yamaha Motor has expanded its Philippine motorcycle manufacturing operation with P2.691 billion investments and hiring of additional 1,300 jobs for its plant in Batangas. Philippine Economic Zone Authority (PEZA) Director General Charito “Ching” Plaza, who attended the...
Local businesses are strongly supporting initiatives to reopen further the Philippine economy, which has suffered from long lockdowns and quarantines due to COVID-19. “We, the undersigned, express our strong support for the initiatives of the Duterte administration to open the Philippine economy...
The National Economic and Development Authority (NEDA), the country's chief economic development planner, said the country needs to strike a better balance in managing the health and economic threats, particularly in Metro Manila where almost a quarter of its population suffer from hunger. Acting...
The Department of Agriculture (DA) will not withdraw its proposal for tariff reduction on pork and rice imports despite the growing number of groups – including farmers, raisers, advocates – opposing such a move. When asked if he will consider the possibility of withdrawing DA’s proposal,...
MB file photo The Philippine Metalworkers Alliance (PMA-SENTRO) has called for a review of the automotive industry development plan stating the imposition of the safeguard measure is not enough to save the domestic automotive industry and stop car companies' exodus from the Philippines. PMA...
Trade and Industry Secretary Ramon M. Lopez preferred the passage of pending economic bills that will open certain domestic industries to majority foreign ownership rather than tinkering the Constitution or charter change (cha-cha). At the "Laging Handa" briefing, Lopez explained that as a matter...
