ECCP at Work

FDI inflows rise 26% to $611 million

FDI net inflows climbed to $611 million in March from a year earlier, driven by higher investments across equity capital, reinvested earnings and debt instruments, according to the Bangko Sentral ng Pilipinas. 

DOE pushes ‘aggressive’ fuel transition plan 

Amid the ongoing global oil crisis, Energy Secretary Sharon Garin said the transport sector is at the center of the DOE’s fuel transition strategy, given its heavy reliance on imported petroleum products. This marks a significant increase from the existing Philippine Energy Plan (PEP), which only targets EV penetration of 50 percent by 2040 and 60 percent by 2050. 

PH bank profits face mounting pressure–Fitch

Despite the onset of the central bank’s rate-hiking cycle, Philippine banks are likely to see some erosion in profitability as the economic fallout from the Middle East conflict weighs on borrowers and raises risks to loan quality, Fitch Ratings said.

Jobless rate dips to 4.7% in April

Unemployment rate in the country eased in April from the previous month, but job quality deteriorated, according to data from the Philippine Statistics Authority (PSA).

House to prioritize measures that push economic growth

The leadership of the House of Representatives on Wednesday vowed to prioritize bills that will drive economic growth, expand business opportunities, and improve the lives of Filipino families.

DTI chief: RACE program, incentives for EV manufacturers stay

The proposed Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) program is still a go along with the incentives program for manufacturers of electric vehicles (EVs), Trade and Industry Secretary Ma. Cristina Roque said Tuesday.

DA recommends extension of P50 price cap on imported rice

The Department of Agriculture (DA) said on Wednesday that it recommended a 30-day extension for the P50 per kilogram price ceiling on imported rice, with the original deadline due to lapse on June 13.

DepEd adopts national learning continuity framework for emergencies 

With the adoption of the Learning Continuity Framework, DepEd said it aims to strengthen a more resilient, adaptive, and learner-centered education system that safeguards well-being while sustaining access to learning during emergencies. 

ADB to work with Philippine gov’t on RE project pipeline

The proposed projects include support for a government energy management plan, a geothermal resource derisking facility to spur greenfield development, and initiatives to reduce diesel consumption in off-grid areas.

AI infra master plan assumes investment of $30 billion

The Department of Information and Communications Technology (DICT) is projecting $30 billion worth of investments over the next seven years in its National Artificial Intelligence (AI) Infrastructure Master Plan.

Agricultural exports increase 33.2% in April

Agricultural exports rose 33.2% year on year in April to $1.03 billion and were up 38.5% from a month earlier, the Philippine Statistics Authority reported. The rise in exports was accompanied by a 3.7% year-on-year decline in imports to $1.63 billion. Month on month, imports fell 18.4%.