Apart from Japan, the Philippine government is currently in talks with Singapore and Hong Kong to update existing double taxation agreements (DTAs) in a bid to attract more foreign direct investments (FDIs). During a roundtable discussion on June 16, Department of Finance (DOF) Secretary Frederick...
SINGAPORE — The Department of Transportation (DOTr) is confident that more private-sector bidders will participate in the Philippines’ upcoming railway public-private partnership (PPP) projects as the government increasingly taps multilateral development banks (MDBs) to provide financing...
The national government’s fiscal disbursement pace cooled in the first five months of the year as sluggish budget rollouts in the agriculture and education sectors countered an otherwise aggressive catch-up in infrastructure spending. According to data from the Department of Budget and Management...
The country’s rice imports surged 23 percent to nearly 2.4 million metric tons (MT) from January to May compared to the same period last year, as traders rushed to fortify inventories ahead of an expected dip in local production. Citing Bureau of Customs (BOC) data, the Congressional Policy and...
The Department of Public Works and Highways (DPWH) has started preliminary work on the ₱320-billion second phase of the Laguna Lakeshore Road Network (LLRN) project, which aims to provide a direct link between Taguig and Laguna. In a notice, the Environmental Management Bureau (EMB) said it will...
The long-awaited ceasefire in the Middle East is expected to ease upward pressure on production costs and help boost local rice production, the Department of Agriculture (DA) said. DA Secretary Francisco Tiu Laurel Jr. said the local agriculture sector breathed a sigh of relief after the United...
Petroleum prices may return to normal within six months to one year as the United States (US) and Iran move closer to a deal that could end the war in the Middle East, according to the Department of Energy (DOE). Energy Secretary Sharon Garin announced on Monday, June 15, a maximum price rollback...
The Department of Agriculture (DA) is spending more than ₱140 million to strengthen the country’s capacity to develop its own vaccines against animal diseases threatening the livestock sector, including African swine fever (ASF). The DA said it formally launched the Animal Vaccine Development...
The Department of Finance (DOF) is revamping how the country finances and manages climate and resilience initiatives through a comprehensive national framework aimed at reshaping its approach to environmental economics. This upcoming Philippine Climate Finance Strategy is set to “serve as a...
The country’s production of palay, or unmilled rice, likely improved by 5.3 percent in the second quarter as the total harvest area expanded to more than one million hectares, according to the Philippine Statistics Authority (PSA). Based on estimates by the PSA as of May 1, palay output from...
The Philippines has sought World Bank backing for a $1-billion program aimed at tackling the country ’ s plastic waste problem, starting with Metro Manila. In a June 10 document, the World Bank said that the proposed Clean Philippines Multiphase Programmatic Approach (MPA) is designed to improve...
The national government will increase its tax allocations to local government units (LGUs) by nearly 11 percent to a record ₱1.32 trillion for fiscal year (FY) 2027, ramping up state spending to insulate regional economies from persistent global energy shocks. Based on Local Budget Memorandum...
