by admin | Jun 6, 2018 | DTI Updates, Headlines
SOUTH KOREA—The Philippine (PH) business delegation and South Korean counterparts signed a total of USD 4.8B-worth of investment pledges and business expansion intentions during the PH-Republic of Korea (ROK) Luncheon and Business Forum on 5 June 2018. These agreements are estimated to generate 50,800 employment opportunities in the country.
The Department of Trade and Industry (DTI) led the event signing, which gathered over 400 business delegates from both countries and comprising of new operators as well as subsidiaries of conglomerates operating in the country.
DTI reported that the 22 signed business agreements– six Memoranda of Understanding (MOUs) and 16 Letters of Intent (LOIs) — were presented to President Rodrigo Duterte during his visit in South Korea. These are in addition to the five MOUs signed between the governments of the Philippines and South Korea.
The business agreements cover expansion intentions for operations on power infrastructure development (offering 2,200 jobs), engineering and construction (2,000 jobs), solar power (1,000 jobs), electric automobile business operations (10,000 jobs), wind power plant (10,000 jobs), dredging and port rehabilitation (100 jobs), freshwater eel production (50 jobs), and real estate development (1,500 jobs).
Trade and Industry Secretary Ramon Lopez met with South Korean companies seeking to invest in the country. Investment pledges include automotive, public utility modernization, liquefied natural gas (LNG), coal-fired power, engineering, construction, sea offshore services, food, and aquaculture
Hyundai Motor Co. (HMC) expressed its intention to participate in the PUJ modernization program by providing environmental-friendly automobile technologies. HMC proposed a mid-term and long-term investment plan to construct an assembly plant in the country for passenger vehicles.
Meanwhile, SK Energy and Services is keen on investing in LNG and power infrastructure development and operation, as well as LNG trading. The company is also looking expanding its business activity on city-gas distribution in the country.
POSCO Engineering & Construction Co. Ltd. intends to expand its operations in PH valued at USD 200 million and expected to generate over 2,000 jobs.
According to Sec. Lopez, the wide-range of business agreements also reflect small and medium enterprise (SME) assistance from South Korea.
Taeseong Kimchi Company expressed their plans to expand its kimchi food production in the country, which would open 20,000 employment opportunities. Further, the company will apply an inclusive business model that seeks to engage with local farmers from Benguet for its operations.
Other expansion intentions came from various South Korean companies, including BKS Energy Industry Ltd., Phillips Holdings Co. Ltd., SY ENC Co. Ltd., Jungheung Construction Co., Ltd., JS Development Co. Ltd., PNK Aquaculture and Trading, and Andamiro Corporation.
During the bilateral meeting between the two governments, discussions on the establishment of the Joint Commission for Trade and Economic Cooperation (JCTEC) were opened as well as the possibility of a Preferential Trade Agreement for the lowering of South Korean tariffs on PH agricultural products.
Both governments also agreed on furthering agricultural, science and technology, as well as security cooperation.
Sec. Lopez, Department of Finance (DOF) Secretary Carlos Dominguez III, and Department of Agriculture (DA) Secretary Emmanuel Piñol gave the business delegation a comprehensive economic and investment briefing. The Cabinet Secretaries provided actual figures and situationers of the country’s business environment.
“The Philippine government is committed in widening its trade engagements with other nations under President Rodrigo Duterte’s independent foreign policy. With the South Korean business community as our partner, we are confident of making progress with government initiatives like the “Build, Build, Build” infrastructure program, and the thrust towards developing Micro, Small, and Medium Enterprises (MSMEs),” said Trade and Industry Secretary Ramon Lopez.
Four LOIs between South Korean companies and the Cagayan Economic Zone Authority (CEZA) were signed, indicating collaborative efforts in rehabilitating and modernizing the economic zone through reclamation and initiatives related to fintech, blockchain technology education, tourism, gaming, and other related business activities.
“Our next goal now is to ensure that these investment pledges and job opportunities will materialize, and allow us share the economic gains of the country, especially to those at the bottom of the pyramid,” Sec. Lopez added.
On the MOUs signed, the Philippine Chamber of Commerce and Industry (PCCI) and Philippines-Korea Economic Council (PHILKOREC) came up with an agreement with KBIZ for an exchange of information on commerce, industry, and trade opportunities focusing on small, medium enterprises. Likewise, PCCI inked an agreement with Korea Importers Association (KOIMA) for the promotion of trade, economic, scientific, technological cooperation, and other business relations.
In the field of die and mold industry, Philippine Die and Mold Association (PDMA) signed an MOU with Korea Association of Machinery Industry (KOAMI) to create a pool of manpower trained in die and mold designing, making, processing, assembly, and other related courses.
Meanwhile, South Korean’s DaeKyung Engineering Co., Ltd. sealed an MOU with Philippine Utility Vehicle Inc. (PhUV) for a joint development and promotion of green business in the country, as well as smart grid and electric vehicles. DaeKyung will also explore the co-development and co-assembly of the modern electric vehicle prototype by providing the powertrain and other parts.
by admin | Jun 5, 2018 | Headlines
The Department of Trade and Industry- Construction Industry Authority of the Philippines (DTI-CIAP) and the Landbank of the Philippines entered into a Memorandum of Agreement (MoA) on 12 February 2018 to provide fast and efficient alternative payment collection services to CIAP clients such as Philippine Contractors Accreditation Board (PCAB) contractors.
Sinceend of April 2018, contractors can directly transact with the Landbank Payment gateway for online payment of monetary obligations to CIAP-PCAB, i.e., payment of fees and charges relative to licensing and registration application, among others.
The Landbank Link.BizPortal is an alternative channel that offers a safer and more convenient means to pay government fees anytime, anywhere. It will allow contractors to pay licensing and registration fees and charges assessed by CIAP-PCAB online or manually.
As of now, the following bancnet member banks are being accepted for Landbank E-payment: Asia United Bank; BPI Direct BanKo; CTBC Bank; Citystate Savings Bank; DBP; Enterprise Bank; Entrepreneur Bank; Equicom Savings Bank; MASS SPECC; Malayan Bank; PBCom; Phil Postal Savings Bank; Philtrust Bank; Sterling Bank of Asia; Sun Savings Bank; and Tianong Rural Bank.
For more information, contractors may visit CIAP’s website at www.ciap.dti.gov.ph.
by admin | Jun 5, 2018 | National News
In time for the opening of school, the Department of Trade and Industry urges stores in the Philippines selling school supplies to sell their products within the Suggested Retail Prices (SRP).
The DTI recently published the price guide for school supplies in May 2018. The suggested retail price (SRP) list covered different brands and corresponding prices of notebooks, pad paper, ballpens, crayons, erasers, rulers and sharpeners.
The DTI reminded sellers that school supplies like notebooks, pad paper, pencils, pens and crayons should have proper markings like brand name, trademark, number of pages for paper products, type, size and grammage of paper, and name and address of manufacturer or importer. Crayons must also have the marking “non-toxic” aside from the trade mark, brand name and manufacturer’s name.
For this year, several brands of notebooks and pad papers increased their prices due to the high cost of raw materials imported from China and the depreciation of Peso value against U.S dollar. However, prices of other school supplies remained stable.
The SRPs of some brands of composition, writing, and spiral notebooks (Advance, Topline, Best Buy, Pandayan, Papelikha, Orions, and Veco) increased by Php 1.00 to Php 4.00. Merit, on the other did not increase their prices. Composition and writing notebooks are still priced at Php 12.75 (without plastic cover) and Php 34.00 (with plastic cover) while their spiral notebook without plastic cover is still priced at Php 19.00.
Similarly, some brands of writing pad papers (grade 1-4) (Easywrite, Best Buy, Sakura, Pandayan, Papelikha, and Orions) increased by Php 0.50 to Php 6.00) while for intermediate paper, some brands (Easy write, Best, Best Buy (book paper), Pandayan, Papellikha and Orions) raised their prices by Php 1.75 to Php 5.00.
Despite these increases, Merit’s writing and intermediate pads are still at Php 12.00 and Php 25.00, respectively. Likewise, Best Buy’s intermediate (bond paper) pad paper is still priced at Php 18.00.
Meanwhile, two brands of pencil (Best buy and Pandayan) recorded an increase of Php 4.50 and Php 1.00, respectively, while the other brands maintained their last year’s prices.
Generally, some brands of ball pens did not increase their prices since last year except for Marvy, Avanti, and Pentel which recorded an increase by Php 1.00 to Php 6.00.
For crayons, HBW Jumbo No. 8 decreased its price by Php 11.00 while other brands (Crayola, Li’l hands, Faber Castell, HBW, Best Buy and Pandayan) did not change their prices since last year. However, brands such as Sterling and Colleen increased their prices by Php 2.00 to Php 10.00 for boxes of Regular No. 8, Regular No. 16, and Regular No. 24 and Jumbo 8.
There were no recorded price movements for sharpener while one brand of eraser (Orions) increased by Php 2.00. For ruler, Orions increased by Php 3.00 while Php 2.00 for Sterling.
“There have been increases in some staples but consumers can check for school items sold in bundle or promo packs which can help them save Php 30.75 depending on the brand,” says Consumer Protection Group (CPG) Undersecretary Atty. Ruth B. Castelo.
She also added that based on their discussions with paper manufacturers, there will be no more price increases until December 2018.
The Gabay sa Pamimili ng School Supplies is already posted on the DTI’s e-Presyo, which can be accessed throughwww.e-presyo.dti.gov.ph or view the price guide by clicking on the following link: https://dti.gov.ph/media/advisories/11985-gabay-school-supplies-srp.
The DTI intensifies its monitoring activities to ensure that prices of school supplies are stable. The Department will also post the price guide in establishments and stores in the regions and provinces.
Also, the DTI advises the consumers to choose well according to their needs.
by admin | Jun 5, 2018 | DTI Updates, Headlines
From L to R: Consul a.h. of Azerbaijan in the Philippines Jose De Venecia III, Counsellor Ruslan Nasibov, Ambassador Tamerlan Garayev DTI Secretary Ramon Lopez, Undersecretary Nora Terrado, Director Ann Cabochan, and Director Angelica Cayas.
MAKATI—Trade and Industry Secretary Ramon M. Lopez met with Azerbaijan Ambassador Tamerlan Garayev last 31 May to discuss trade opportunities between Azerbaijan (AZ) and the Philippines (PH).
“Our meeting with Consul Garayev is part of President Rodrigo Duterte’s strategy to seek out non-traditional trading partners. We see a lot complementation between our countries,” said Sec. Lopez.
PH is keen on exporting tropical fruits, like bananas and mangoes, to AZ. Exporting to the Eurasian country is also a boon for PH’s Halal industry, since its population is predominantly Muslim.
“Your country is famous for its mangoes,” said the Azerbaijan Ambassador who cited Jose Rizal as his childhood hero.
Meanwhile, PH sees AZ as an alternative source of fuel since oil and natural gas account for around 90 percent of Azerbaijan’s total exports. The country is also a transport hub for exports since it’s located near Georgia, Turkmenistan, Kazakhstan, Iran, Turkey, Bulgaria, Romania, and Ukraine.
With only a 10M population and a 6.2% Gross Domestic Product (GDP), Ambassador Garayev said that his country needs more manpower for its tourism and agriculture industries. Since there are only 300 Filipinos in AZ, Sec. Lopez suggested that Filipinos fill these vacancies.
Both countries want to mutually develop education and tourism by having student/ teacher exchange programs and tourism promotions. The two countries will form a Joint Economic Commission to further these talks beginning with possible government to government transactions.
Current trade balance between PH and AZ is in favor of PH due to exports of the following: electronics; electrical and electronic machinery; almonds, fresh or dried, shelled. Azerbaijan is PH’s 172nd trading partner (out of 223), and 153rd export market (out of 216), and 171st import source (out of 198).
