Business NEWS

The Philippine Chamber of Commerce and Industry (PCCI), the largest business organization in the country, has expressed its full support to the incoming administration led by president-elect, Ferdinand Marcos,Jr. and vice president-elect, Sara Duterte.

Finance Secretary Carlos G. Dominguez III said the next administration will inherit a slew of President Duterte’s “hard-won” reforms, including several economic liberalization measures that will help fuel the Philippines’ resurgence in the years ahead.

For presidential aspirant Vice President Leni Robredo, there is no doubt that economic recovery coupled with job security and employment opportunities is key in addressing the effects of the coronavirus disease (COVID-19) pandemic.

The two-day 47TH Philippine Business Conference (PBC) opens today with the theme “Innovation.PH: Economic Recovery for All.”

Unlike the 28 business and professional organizations that threw their full support to the Commission on Audit (COA) and calling to uphold the independence of the auditing body amid President Duterte’s quick defense of his officials’ integrity even lambasting the audit agency, the Philippine Chamber of Commerce and Industry (PCCI), the country’s largest business organization, stayed on the side.

The country’s largest business groups have strongly opposed moves to maintain the telecommunications industry as a public utility or subject it to minority foreign ownership as they cited interest from SpaceX, Japan’s KDDI and Kobashi groups to enter the country that could provide competition in a domestic industry that is controlled by China’s Huawei.

Philippine employer groups have called for the ratification of the International Labor Organization (ILO) Convention 190, which seeks to provide a working space that is free from violence and harassment in whatever form for all workers regardless of gender, sex, race, age, beliefs, and ability. 

The Philippine Chamber of Commerce and Industry (PCCI) and the Department of Trade and Industry (DTI) signed a Memorandum of Understanding (MOU) to help local businesses and startups transition into the digital economy through the development and conduct of technology-based training programs.

Business leaders have agreed to the proposed imposition of a 2-week hard lockdown next month to avert the Delta variant from wrecking further havoc, a move that is expected to render a negative third quarter growth but protect the fourth quarter, which is traditionally highest economic contributor.

The business sector wished that President Rodrigo on his last State of the Nation Address today, July 26, will direct Congress to pass various pending economic reforms and commit that the executive department will act on several issues to ensure government and the private sector can work towards recovery and sustained economic performance.

Businessmen in the country mourn the passing of former President Benigno S. Aquino III, whose administration they described as a reign of fiscal stability and good governance.

The Philippines and Israel are poised to forge a mutual investment protection agreement in various sectors, focusing on agriculture technology, where the former has been lagging  behind other countries and was further aggravated during the pandemic. 

The Philippine Chamber of Commerce and Industry (PCCI), the country’s largest business organization, has joined other business groups in asking the Department of Environment to extend for three years without penalties the deadline on businesses’ compliance to water and effluent standards.

The Philippine Chamber of Commerce and Industry (PCCI), the largest business organization in the country, has joined other business groups in supporting the immediate passage of the Banking Secrecy Act Amendment to fight tax evasion and deter financial crimes. 

The Intellectual Property Office of the Philippines (IPOPHL) signed on Monday a memorandum of agreement with the Philippine Chamber of Commerce and Industry (PCCI), the largest business group in the country, to renew and expand their commitments in enabling more businesses to protect their intellectual property (IP) rights and optimize them to rebound stronger from the pandemic.

The private sector welcomed the recent implementation of Department of Agriculture (DA) Administrative Order (AO) No. 11-2021, saying the order waiving pesticide residue analysis fees is a big help to thousands of struggling farmers, exporters and micro, small and medium enterprises (MSMEs).

Finance Secretary Carlos G. Dominguez III urged the Philippine Chamber of Commerce and Industry (PCCI) to continue organizing Sulong Pilipinas consultative forum  beyond President Duterte’s term. 

The business sector sees continuing challenges with the fast-evolving work patterns and environment, and other disruptions that may hinder the attainment of decent work and affect employment and livelihood of individuals.