Ahead of SONA, Speaker Romualdez sets House agenda; 2025 budget a top priority
A week before President Ferdinand “Bongbong” R. Marcos Jr.’s State of the Nation Address (SONA) and the resumption of session, Speaker Ferdinand Martin G. Romualdez on Sunday assured that the House of Representatives is committed to passing the 2025 national budget, remaining Legislative-Executive Development Advisory Council (LEDAC) priority bills, and possible additional key SONA measures.
PHL likely to grow by 5-6% this year — House think tank
“The resilience and ingenuity demonstrated by Filipinos, particularly in crises, should serve as a reminder that the government can trust the private sector to do its part in growing the economy. To realize this potential, policy makers must prioritize providing a favorable environment for businesses to thrive,” the Congressional Policy and Budget Research Department (CPBRD) said.
143 PPP projects in the pipeline — NEDA
The government has 143 public-private partnership (PPP) projects valued at P3.095 trillion in the pipeline as of July, with new projects centered on health and waste management, NEDA said. Nine PPP projects amounting to P65 billion were added to the pipeline as of July.
PH now part of ATA Carnet System
Fair exhibitors, traveling businesses and various professionals can now temporarily move specific goods across international borders sans the payment of import duties and other tedious requirements, as the Philippines becomes the 81st participating country of the ATA Carnet System.
PEZA investments plunge in June
PEZA approved P8.65 billion worth of projects in June, 73.4% lower than a year ago. In a statement over the weekend, the investment promotion agency said the PEZA Board approved 25 new and expansion projects at its June 28 meeting, up from 22 projects a year ago.
Department of Trade and Industry (DTI) Export Marketing Bureau director Bianca Sykimte said that the EDC is poised to slash export targets under the PEDP with the current performance showing it would be difficult to meet the export goals.
The Bureau of Customs (BOC) remains on track in its collection performance so far this year, and is even eyeing to surpass the official goal for 2024. Vincent Philip Maronilla, customs assistant commissioner, said that the BOC is even hoping to hit an internal goal set by the customs chief.
Swiss challenge expected for Bohol-Panglao airport by Q4
The government said it is hoping to conduct the Swiss challenge for the Bohol-Panglao International Airport within the fourth quarter. The Swiss challenge allows other companies to submit alternative proposals to a project, with the original proponent granted the right to match their bids.
Lack of telco incentives hampers broadband expansion in Philippines, says World Bank study
A study revealed that the Philippines’ poor broadband infrastructure is rooted in outdated policy frameworks which hinder the broadband expansion and limit the access of internet connectivity to Filipinos. One of the reasons that hinders broadband expansion in the Philippines is the government’s failure to provide incentives to telecommunications companies, according to a study released by the World Bank in January 2024.
The SEC launched the Sustainable Enterprise Collaboration Network (eSECnature) in an effort to bring together corporations and the public sector for a greener, low-carbon and sustainable economy. eSECnature aims to link corporations, government organizations, multilateral and civil society organizations to further deepen the corporate sector’s participation in sustainability initiatives.
Philippines shines as ‘premiere global MICE destination’ at MICECON2024
MICECON 2024, touted as the biggest gathering of M.I.C.E. (Meetings, Incentive Travel, Conventions, Exhibitions) professionals in the country concluded at the SMX Convention Center in Clark, Pampanga this week. The three-day conference from July 10 to 12, organized by the marketing arm of the Department of Tourism, Tourism Promotions Board (TPB), puts the spotlight on the Philippines as a premier global MICE destination.
President Marcos tells agencies to improve airport facilities
President Marcos has ordered transportation agencies to improve the country’s airport facilities to ensure the convenience of passengers and to attract more tourists. Efforts to enhance the facilities and services of the Philippines’ international airports were discussed during a special Cabinet meeting in Malacañang.
New Clark City attracts P143 billion investment pledges
The New Clark City, which is being positioned as an investment hub, has attracted over P143 billion worth of investments, according to the Bases Conversion and Development Authority. Of the total amount, P15.92 billion has already been invested through actual construction, while P127.3 billion is in the pipeline.
DMW OKs global rollout of OFW Pass
Last year, the DMW launched the OFW Pass to replace the traditional Overseas Employment Certificate required from departing OFWs. OFWs in 10 destination countries can avail themselves of the mobile app service.
Teachers run for salary increase
Teachers and education workers held a fun run at the University of the Philippines campus in Diliman, Quezon City to reiterate their call for a substantial salary increase ahead of the third SONA of President Marcos on July 22. Dubbed “Takbo Para Sa Umento,” the five-kilometer run was participated in by the members of the ACT Teachers Party-list, UP Salary Fight Network and Education Workers’ Alliance for Greater and Equitable Salaries.
Agri chief: ASF vax rollout for gov’t use eyed in September
Department of Agriculture (DA) Secretary Francisco Tiu Laurel Jr. on Monday said the agency is eyeing to roll out the government’s vaccination against African swine fever (ASF) in September. During the pre-State of the Nation Address briefing over the People’s Television Network, Laurel said the FDA gave the DA the go-signal last week to purchase the vaccines from Vietnam.
NGCP project benefits 59 million in Luzon
Around 59 million consumers in Luzon will benefit from the landmark P20.9-billion transmission line project of the National Grid Corp. of the Philippines. Fully energized last month, the project is a major component of NGCP’s planned 500-kV transmission backbone in Western Luzon that will support the country’s growing energy demands.
Enhanced version of e-Travel System launched
The Philippine government has launched an enhanced version of the e-Travel System, a unified digital data collection platform that integrates border control requirements of various agencies. The enhanced system includes the generation of a single QR code for each passenger that covers the requirements of the Bureau of Customs (BOC), Bureau of Immigration, Bureau of Quarantine, Department of Migrant Workers (DMW), and Department of Tourism.
Pinoys’ travel spending here and abroad rises
Data from the Philippine Statistics Authority (PSA) showed domestic tourism expenditure — which covers expenditures of resident visitors within the country either as domestic trip or part of an international trip — grew by 72.3 percent in 2023. Last year, domestic tourists spent P2.67 trillion from P1.55 trillion in 2022.
The national government’s total debt payments in the first five months of the year jumped 48.47 percent as both amortization and interest payments rose from the previous year’s level, data released by the Bureau of the Treasury (BTr) showed. According to the latest cash operations report, the national government’s debt payments in January to May stood at P1.22 trillion, higher than the P819.53 billion recorded during the same period a year ago.
ERC could lower RCOA threshold to 100 kW in 3-4 years
The Energy Regulatory Commission (ERC) is looking into lowering the threshold to 100 kilowatts (kW) for users to be eligible for the Retail Competition and Open Access (RCOA) program. Any changes may be implemented in the next three or four years, it said.
P115B infra projects readied in Subic
The Subic Bay Metropolitan Authority (SBMA) is readying P115 billion worth of infrastructure projects at the Subic Bay Economic and Freeport Zone, majority of which would support the Luzon Economic Corridor. In a report, SBMA administrator Eduardo Alino said SBMA has attracted $11.54 billion investments and exported $1.97 billion in 2023. Subic has 1,800 locators employing 158,969.
PH aims to reverse decline in export complexity
The Department of Trade and Industry (DTI) expressed hope the current administration will be able to reverse the decline in the Philippines’ economic complexity index — or ECI, a measure of how diversified and complex the export basket of a country — through the Tatak Pinoy Act.
‘We can’t let excess money sleep in GOCCs,’ DOF says
In a statement, the DOF said these funds are being marshalled for projects in health, social services and infrastructure that serve the public, finance growth and cut poverty. Unlocking these excess fund balances is a more prudent fiscal option than borrowing more or imposing taxes, the DOF said.
The Department of Agriculture (DA) has extended the ban on the importation of onions until August. “We’re monitoring everything closely. As of the moment, we don’t need to import onions. But we will extend the ban on a monthly basis… for now until August,” said DA Secretary Francisco Tiu Laurel Jr.
Marcos urged to certify P150 wage hike as a priority bill
The National Wage Coalition (NWC) is asking President Marcos Jr. to certify as “urgent” the P150 legislated wage hike pending in Congress. In a press conference, the NWC asked Marcos to direct the House of Representatives to hasten the passage of the measure that calls for an across-the-board wage increase.
PH missing out on electronics investments
Electronics investments registered at the PEZA reached P19.77 billion as of the first half of the year, establishing a foundation for future growth in exports. But according to Dan Lachica, president of the Semiconductor and Electronics Industries of the Philippines Inc. (SEIPI), the Philippines is missing out on investments due to regulatory constraints.
Tax credits eyed for Baguio green building owners
A proposal seeking to provide tax credits to building owners, who support efforts to reduce the impact of climate change, has been filed before the city council of Baguio. The proposal is also expected to inspire the public and private sectors to integrate into their plans green buildings and landscape requirements based on local climate, geological and topographical conditions.
SM Group drilling new geothermal power fields
SMIC, through its unit Philippine Geothermal Production Co. Inc. (PGPC), has identified five new project concession sites in geothermal-rich areas in Luzon, particularly in the provinces of Kalinga, Benguet, Cagayan, Camarines Norte and Camarines Sur. The projects, slated for completion within five to seven years, aim to establish fully operational geothermal fields that can generate up to 400 megawatts of additional renewable baseload power to further strengthen the Luzon grid.
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