The Philippines is set to spend P82.5 billion for the procurement of 148 million doses of COVID-19 from 7 pharmaceutical companies. P70 billion will be sourced from foreign loans and grants, P10 billion will come from Bayanihan to Recover as One Act, while another P2.5 billion is lodged in the Department of Health's budget.
Fitch Ratings has kept its 'BBB' credit rating for the Philippines and 'stable' outlook for its economy as the country continues to grapple with the coronavirus pandemic.
The Senate committee of the whole is set to start the hearing on the government's COVID-19 vaccine plans on Monday. Senate President Tito Sotto said the focus of the hearing will be on what the government's plans are regarding the procurement of vaccines for Filipinos.
Two COVID-19 vaccines may arrive in the Philippines as early as February, the Department of Health said Monday without discussing further details. The brands of the coronavirus inoculations will be announced by vaccine czar Secretary Carlito Galvez Jr., said DOH spokesperson and Undersecretary Maria Rosario Vergeire.
The Philippine government has inked a term sheet for 30 million doses of COVID-19 vaccine Covovax, the Serum Institute of India announced. he doses will be available to the Philippines beginning the third quarter of 2021. Meanwhile, the cost of the vaccine is expected to be finalized soon, added the SII.
House Deputy Speaker Rufus Rodriguez filed this week House Resolution No. 1453, which urges the national government to authorize the private sector to buy vaccines for their employees and their families. He invoked the Filipinos’ “right to health.”
The House contingent to the bicameral conference committee harmonizing two chambers’ Corporate Recovery and Tax Incentives for Enterprises (CREATE) bills are pushing for expanded incentives to be awarded to investments made outside the capital region.
House Speaker Lord Allan Q Velasco on Sunday said there is a need to amend the restrictive economic provisions of the 1987 constitution to help the Philippine economy recover from the coronavirus disease 2019 (COVID-19) pandemic.
The Board of Investment hit its P1-trillion target for approved investment pledges last year despite the Coronavirus pandemic, Trade Secretary and BOI Chairman Ramon M. Lopez said on Saturday. While it met the downscaled target, this was still 10% lower than the P1.14 trillion in BOI-approved investment pledges recorded in 2019.
Duterte OKs Mark Lapid's return to TIEZA President Rodrigo Duterte has appointed actor and former tourism official Mark Lapid back to the Tourism Infrastructure and Enterprise Zone Authority which he previously headed, Malacañang confirmed on Saturday.
Trade gap eases to 5-month low in November The country's trade deficit shrank to its lowest in five months last November, data from the Philippine Statistics Authority revealed. Exported goods grew annually by 3% during the month, the fastest increase recorded since February. Exports amounted to $5.79 billion during the period. Imports continued to contract in November, declining by 18.9% year-on-year.
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