ECCP at Work

House amendments to rice tariff law approved on 3rd reading

The house of representatives has approved a proposal amending R.A. No. 11203 or the Rice Tariffication Law to restore some of the National Food Authority functions. House Bill No. 10381 was approved with 231 lawmakers voting in the affirmative, three in the negative, and one abstaining.

IRRs for Internet Transaction, Tatak Pinoy Acts signed

The implementing rules and regulations (IRR) for the Internet Transactions Act (ITA) and the Tatak Pinoy Act were signed on Wednesday, paving the way for the full execution of these two priority laws of the Marcos administration.

PHL on track to reach upper middle-income status, says NEDA chief

The Philippines is still on track to become an upper middle-income economy next year as long as the growth momentum continues, National Economic and Development Authority (NEDA) Secretary Arsenio M. Balisacan said.

Game-changing legislative reforms make PH attractive to investors

President Ferdinand R. Marcos Jr. renewed the administration’s commitment to create a conducive business environment in the Philippines. President Marcos said the “game-changing” reforms in terms of legislation underscores the dedication of the government towards attracting and supporting foreign investments.

Government infrastructure spending rises to P220 billion in Q1 

The government increased its infrastructure spending to almost P220 billion in the first quarter, mainly to finance road and defense projects, the Department of Budget and Management (DBM) said.

Budget surplus narrows in April as spending rises

The National Government’s budget surplus narrowed in April as expenditures surged by 32%, outpacing the 22% rise in revenues, the Bureau of the Treasury said. Data from the BTr showed that the NG’s budget surplus shrank by 36.03% to P42.7 billion in April from the P66.8-billion surplus posted in the same month a year ago.

Right of way, budget woes delay buildup of rail projects 

The Department of Transportation (DOTr) has warned of construction delays for the biggest rail projects in the Philippines if the acquisition of right-of-way (ROW) and the release of appropriate budgets are further held back.

Caap official: No hacking in latest software glitch at Naia 

“If there was what they call, let us say, a problem or hacking or something like that, nothing like that happened because the software was the only issue,” Caap spokesperson Eric Apoli said in Filipino at Tuesday’s “Bagong Pilipinas Ngayon” public briefing.

ASF vaccine enters third phase of trials — DA

The Department of Agriculture (DA) on Wednesday said a vaccine for African Swine Fever (ASF) is in the third stage of trials, and could be approved within the year. “We are in the third phase, the last trial. And hopefully, it will be over soon because that’s what the industry has asked for,” Agriculture Undersecretary Deogracias Victor B. Savellano told reporters on the sidelines of the Livestock and Aquaculture Philippines 2024.

NEDA backs push for rice imports by NFA

The National Economic and Development Authority (NEDA) on Wednesday backed a proposal allowing the National Food Authority (NFA) to boost rice stocks through imports during emergencies amid spiraling prices.

Broader tariff exemptions for 'green' vehicles seen helping Philippines meet sustainability goals

The expansion of tariff exemptions to more types of electric vehicles and hybrids will help the Philippines meet its sustainability goals and promote investment, the Department of Finance said.

DA eyes disposal facility for smuggled farm goods

The Department of Agriculture (DA) is proposing the establishment of a condemnation facility to avoid the resale of smuggled agricultural goods seized by local authorities. Agriculture Secretary Francisco Tiu Laurel Jr. made such a suggestion as the DA is currently investigating the alleged diversion of food items that had entered the country illegally. 

Convergence program on water to help attain rice sufficiency goal

In an interview, Speaker Ferdinand Martin G. Romualdez said the program aims to align the Department of Public Works and Highways’ (DPWH) flood control initiatives with the National Irrigation Administration’s (NIA) water conservation efforts, ensuring efficient use of the country’s water resources.

Senate shuffles committee chairmanships

After completing the latest leadership change that installed new Senate President Francis Escudero, senators on Wednesday voted to install a new set of chairmen for the standing committees.

Government setting up fund to manage PPP risks 

During the recent Economic Journalists Association of the Philippines - San Miguel Corp. Business Journalism Seminar, PPP Center deputy executive director Jeffrey Manalo said a risk management fund would be established in line with the PPP Code approved in December.

Companies ramping up renewable energy plans

Listed Companies are ramping up their renewable energy (RE) plans amid the country’s energy transition. “It’s an exciting time for us because, obviously, the market continues to grow. And, if anything, we’re now in a position where the narrative across ourselves, including our friendly competitors, is sort of converging, where we know there’s growth,” First Gen Corp. President and Chief Operating Officer Francis Giles B. Puno said during the BusinessWorld Economic Forum on Wednesday.

Flexible cyber law, tech investment needed to fight threats — experts

Addressing the rising cybersecurity threats in the Philippines requires a two-pronged strategy: implementing more flexible legislation and harnessing emerging technologies, according to experts.

Hog weights falling due to hot weather

HOG WEIGHTS have declined due to the intense heat brought by El Niño, farmers said. The government weather service, known as PAGASA (Philippine Atmospheric, Geophysical and Astronomical Services Administration), said El Niño-related heat and dry conditions are expected to continue despite the ongoing transition to La Niña.

Palawan ports set for P1 billion upgrade

Seeing the prospect of Palawan as a tourist hotbed, the government is set to undertake nearly P1 billion in upgrades for ports in the province to improve its infrastructure for travel and tourism. In a series of invitations to bid, the Philippine Ports Authority (PPA) said it is looking for contractors that would upgrade the Port of Puerto Princesa and its nearby facilities.