Angara: Private sector important to DepEd

Education Secretary Sonny Angara has stressed the importance of the private sector’s support of the Department of Education, as he highlighted the early gains of the DepEd on his nearly 100th day in office at a luncheon meeting hosted by the European Chamber of Commerce of the Philippines in Makati.

Angara admits state of PH education 'not great,' recovery programs initiated

Education Secretary Sonny Angara on Wednesday admitted that the state of Philippine education is "not great." Speaking at a luncheon organized by the European Chamber of Commerce of the Philippines (ECCP), Angara said he "acknowledges" the problem in the education sector.

Angara: DepEd 'red urgent' challenges now fewer

In his speech during an ECCP meeting, Angara highlighted recent DepEd accomplishments, specifically granting flexibility in the K-10 curriculum, creating a task force to improve students' performance in the next Programme for International Student Assessment, and assessing reading interventions and the senior high school curriculum.

PHL’s economic freedom improves

The Philippines’ ranking jumped nine spots in a global index on economic freedom due to higher scores in trade freedom and property rights, according to Fraser Institute. With the country placing 59th out of 165 economies, this is its highest placement since it ranked 57th in 2016.

DTI: VAT on foreign digital services to boost local creatives

The DTI stated that the imposition of VAT on digital service providers will promote healthy competition in the local market. In a statement, Secretary Cristina A. Roque said that this measure levels the playing field for local digital platforms by ensuring that foreign DSPs contribute their fair share of taxes.

Villanueva upbeat on enactment of proposed Blue Economy Act

Senator Joel Villanueva has expressed optimism over the enactment of the proposed Blue Economy Act, which seeks to sustain the Philippines’ oceanic resources for economic growth, improved livelihoods, and the health of the country’s ocean ecosystems.

PHL eyes incentives for mineral processing amid green transition

The Philippine government wants to incentivize companies that will process critical minerals needed for the country’s green transition. At the same time, President Ferdinand R. Marcos, Jr. urged the Senate to pass a bill that seeks to impose margin-based royalties and a windfall profit tax on mining companies.

DTI champions inter-agency collaboration on Internet Transactions Act

To enhance consumer protection within the digital marketplace, the Department of Trade and Industry’s E-Commerce Bureau hosted on September 19 the first inter-agency consultation on the Internet Transactions Act implementation. “While the DTI is the primary agency that has regulatory jurisdiction over the use of the internet for e-commerce activities, the success of the ITA depends on inter-agency collaboration to address the evolving challenges of the digital space,” Undersecretary for E-Commerce Group Jean Pacheco said as she emphasized the need for a coordinated approach.

Social services, food security to get P292-B boost in 2025 budget

A small committee tasked by the House of Representatives to propose changes to the 2025 General Appropriations bill has increased funding for social services, food security and social safety nets by P292.23 billion, in the face of weak economic growth that could go below the government’s target through next year.

Angara cites achievements during first 100 days in office

Nearing his first 100 days in office, former senator-turned Education Secretary Juan Edgardo Angara makes an accounting of his accomplishments aligned with President Marcos’ directive to secure basic education services and prepare learners for work during a luncheon meeting hosted by ECCP.

Vehicle sales growth slows in September

Philippine Automative sales growth slowed to 2.4% in September, amid flat sales of commercial vehicles, according to an industry report.

PHL needs 8% GDP growth to bring down poverty rate

The Philippine Economy needs to grow by an average of 8% annually to achieve its goal of bringing down poverty incidence to single digits by 2028, an economist said. The government aims to reduce poverty incidence to 9% by 2028, or at the end of President Ferdinand R. Marcos, Jr.’s administration.

PHL strives for a sustainable aviation industry, reduction of carbon emission

The Philippines strives to be at par with other neighboring countries in the aviation industry through carbon emission reduction and strategic infrastructure development, the Department of Transportation (DOTr) said on Monday. At the 59th Conference of Directors General of Civil Aviation (DGCA), more than 300 international delegates will discuss key issues in aviation, such as safety, security, and economic development of air transport. The conference is a platform for advancing civil aviation regulation and development. 

DA to revive Trade Remedies Office

The DA is reconvening the Trade Remedies Office (TRO) to better address complicated cases while ensuring fair trade practices. It intends to run the TRO as “a specialized and dedicated office” to comply with the legal and administrative requirements and enhance its capacity to address trade remedy matters.

Tourism Chief champions Public-Private Partnership with PHISAP Launch 

Department of Tourism (DOT) Secretary Christina Garcia Frasco unveiled the Philippine Hotel Industry Strategic Action Plan (PHISAP) 2023-2028 on Monday (Oct. 16) at The Westin Manila, outlining an ambitious action plan for transforming the country’s hotel and accommodations sector. Developed in collaboration with the Philippine Hotel Owners Association - PHOA, PHISAP embodies a vital public-private partnership aimed at positioning the Philippines as a premier tourism destination and a leader in sustainable hospitality.

Firms should optimize investments before tapping new tech for growth

Philippine Businesses should optimize their existing investments for efficiency and determine if they need to tap emerging technologies like artificial intelligence (AI) to boost their operations, a US-based software company said.

BoI confident it will exceed P1.6-trillion investment goal

The Board of Investments (BoI) said it expects to breach the P1.6 trillion upper limit of its target range for investment approvals this year due to the volume of big-ticket infrastructure and renewable energy (RE) projects.

19 energy projects endorsed for grid impact study

The Department of Energy (DoE) endorsed 19 energy projects to the National Grid Corp. of the Philippines (NGCP) in September for a system impact study (SIS).

Five more PPP projects to be awarded this year, early 2025

The Public-Private Partnership (PPP) Center said among the projects, with a total estimated cost of P27.95 billion, that are expected to be awarded in the second half or early in 2025 is the upgrade of the New Bohol International Airport in Panglao, Bohol province.

S. Korea, US, Japan main focus of tourism efforts amid restrictions on visas for Chinese visitors

The Department of Tourism (DoT) said on Wednesday that it is focusing its efforts on South Korea, the US, and Japan due to restrictions on issuing visas to Chinese nationals. The Philippines is currently embroiled in a territorial dispute with China in the West Philippine Sea.

Palay farmgate price up 12.7% in September

THE average farmgate price for palay or unmilled rice rose 12.7% year on year to P22.43 per kilogram in September, according to the Philippine Statistics Authority (PSA).

BSP delivers another 25-bp rate cut

As widely expected, the Bangko Sentral ng Pilipinas (BSP) continued its easing cycle yesterday, slashing borrowing costs anew via a 25-basis-point rate cut as inflation pressures recede, with another reduction likely before the year ends.

East Asia-Pacific among most exposed to climate shocks — WB

The East Asia and Pacific Region is the second most exposed to climate-related shocks globally, which could push part of its populations to extreme poverty, the World Bank (WB) said. Moreover, the multilateral lender classified the Philippines as a “high inequality” economy with a Gini index of 40.7.

DENR confirms Chinese presence in illegal mining

The Department of Environment and Natural Resources (DENR) is building a case against people behind the illegal mining operations in Camarines Norte province which are said to have been run by Chinese nationals posing as tourists.

House finalizes P1.3-B cut in 2025 OVP budget

The House of Representatives has made good on its promise to reduce Vice President Sara Duterte’s proposed P2.03-billion budget for next year by P1.3 billion—an amount that has been realigned to the Department of Social Welfare and Development (DSWD) and the Department of Health (DOH).

Consumers to save P11.8 billion from new Meralco supply deal

Close to eight million customers of Manila Electric Co. (Meralco) could expect P11.76 billion in cost savings from the procurement of 600-megawatt (MW) baseload supply starting next year.

PPP project pipeline now at 169, valued at P3.18 trillion

The pipeline of public-private partnership (PPP) projects is now at 169, with a total value of P3.18 trillion, the PPP Center said. These include 113 national PPP projects and 56 local ones, according to the PPP Center website. Of the national PPP projects, 75 are solicited and 38 unsolicited. Of the local PPP projects, 16 were solicited and 40 unsolicited.

2 UAE firms eye P25 billion investments for Philippines RE, port projects

United Arab Emirates (UAE) – based firms DP World and Masdar are considering investing more than P25 billion in renewable energy and port projects in the country, according to the Department of Trade and Industry.

Five more PPP projects to be awarded this year, early 2025

Five more public-private partnership (PPP) projects worth around P28 billion are expected to be awarded this year and by early 2025, the government said. 

NAIA's new operator teams up with telco giants for faster WiFi

Passengers at Ninoy Aquino International Airport (NAIA) are set to experience a faster Internet connection as its new operator upgraded wifi connectivity as part of its efforts to enhance services. 

NEDA sees PPPs as crucial for climate-resilient infrastructure

The National Economic and Development Authority (NEDA) said public-private partnerships (PPPs) are vital in bolstering the Philippines' disaster resilience, particularly in developing climate-resilient infrastructure.

DENR digital mining permit system to go national next year

The Department of Environment and Natural Resources (DENR) said it hopes to launch its digital application platform to all regions next year.

Wet season palay procurement budget set at P9 billion — NFA

The National Food Authority (NFA) said on Thursday that its procurement budget for unmilled rice for the remainder of the year has been set at P9 billion, which will go towards grain acquisition for wet season rice.

NEDA Board approves water, sanitation projects

The National Economic and Development Authority (NEDA) Board said it approved two projects that will boost water and sanitation service delivery. In a statement on Thursday, NEDA said the Board approved the Unified Resource Allocation Framework for the Water Supply and Sanitation (WSS) sector, which will rationalize and target the allocation of available resources.

PHL fossil fuel reserves valuation declines in 2023

The value of the Philippines’ fossil fuel reserves declined sharply in 2023, the Philippine Statistics Authority (PSA) said on Thursday. The PSA said the value of Class A coal, oil, natural gas, and condensate reserves declined 46.5% to P317.65 billion.

Freight, cross-border services taxes seen deterring investors

The imposition of taxes on freight and services rendered overseas could potentially push investors away from the Philippines, a global logistics company said. At the German-Philippine Chamber of Commerce and Industry Forum on Tuesday, Michael Kurt Raeuber, chairman and group chief executive officer of Royal Cargo, said companies have concerns about the recent changes in tax rules.

Developing countries need to play bigger role in ESG rule-setting — UN

Developing countries need to play a bigger role in the drafting of environment, social, and governance (ESG) rules, a United Nations (UN) official said.

Analysts see BSP terminal rate down to 5% next year

Given the latest monetary policy action of the Monetary Board, international and local analysts expect the Bangko Sentral ng Pilipinas (BSP) terminal rate to be brought down to 5 percent next year.

Hotels urged to use clean energy – First Gen’s Carlo Vega said PHL hotels can save on power costs and cut down on their carbon footprint by tapping RE sources

Hotels in the Philippines can save on their electricity expenses and at the same cut down on their carbon footprint by tapping power supply from renewable energy (RE) sources and adopting energy efficiency and conservation measures.

ERC restructuring pushed amid PHL shift to clean energy

The Energy Regulatory Commission (ERC) is in dire need of restructuring to address the high volume of pending cases which has now reached 6,000. During a Senate hearing on bills seeking to amend Republic Act 9136 or the Electric Power Industry Reform Act (Epira) of 2001, ERC Commissioner Floresinda Baldo-Digal said half of the total pending cases are various applications for power supply deals.

PNB raises $300M from return to international bond market

The Philippine National Bank (PSE: PNB) has raised $300 million for its sustainable financing initiatives from its return to the international bond market after a 5-year hiatus.

DAR to distribute more land titles to planters by yearend

The Department of Agrarian Reform (DAR) said it aims to distribute an additional 101,666 land titles to agrarian reform beneficiaries (ARBs) by yearend.