by admin | Oct 23, 2017 | Business, Headlines, National News
The Philippines (PH) under the Duterte Administration continues to enjoy the confidence of foreign direct investors with the Department of Trade and Industry (DTI), through the Board of Investments (BOI), welcoming the investment intentions of Chinese firms Huili Investment Fund Management Co., Ltd. and Yi Ding Tai International Corporation.
The investments, focusing on iron and steel manufacturing and shipbuilding, are worth USD 4.5 billion with 8,000 employment opportunities.
“This is one of several investment proposals we have received on the steel industry that will allow us pursue President Duterte’s vision of having a globally competitive iron and steel industry, to support the growing economy, to alleviate poverty, and to create jobs for every Filipino,” said DTI Secretary Ramon Lopez.
A private equity firm based in Beijing, China, Huili Fund expressed its intention to partner with PH and private sector entities through a letter of intent signed earlier this year and endorsed by China’s Ministry of Commerce. The company plans to implement a two-phased project of a world-class integrated steel manufacturing facility that will employ 6,000 people by 2022.
In a recent courtesy call on Sec. Lopez on 5 October, Huili Investment Fund Management Co., Ltd. Chairman Dr. Meng Xiaosu presented the plan for the facility where the first phase will include production of billets, long, and flat products. The chain will be completed on the second phase through iron ore. Currently, a feasibility study is being conducted that includes the possible location to set up the facility, where the availability of port and low electricity cost are considered.
“Producing the steel here will be favorable to both parties as it will generate jobs for Filipinos and be cost-effective for the company. This complements our drive to provide opportunities to uplift the lives of those at the bottom of the pyramid as we take a step forward to inclusivity and shared prosperity for all,” Sec. Lopez added.
Dr. Xiaosu also cited the benefits of putting up a facility in PH given that it is on the Maritime Silk Road and will help the company expand in the region while reaching other ASEAN countries with lower freight cost.
The trade chief shared during the meeting that the project will also contribute to the Philippine Manufacturing Resurgence Program (MRP) through knowledge-sharing of advanced technological know-how in support of the Philippines’ bid to be a major producer of high-quality and safe steel products by 2030.
Meanwhile, Yi Ding Tai International Corporation has selected PH as the best location for the development of a shipbuilding and ship repair (SBSR) facility for frontier-island, regional size vessels with 15,000 deadweight tons, including advanced ship and vessel designing, manufacturing, repair, sales, and financial support.
Feasibility studies are currently ongoing following international maritime safety standards as the company is intent on investing in an SBSR facility with a local company in PH worth USD 1.5 billion. The facility is set to open job opportunities for at least 2,000 people by 2022.
by admin | Oct 23, 2017 | Photo Story
SEC. LOPEZ: ASEAN IS BEST PLATFORM TO PROMOTE INNOVATION. Department of Trade and Industry (DTI) Secretary Ramon Lopez (7th from L) recently (20 October) called on startups and investors to take part in transforming ASEAN into a regional hub for innovation during his keynote speech during the Slingshot ASEAN Startup and Innovation Summit at the Philippine International Convention Center (PICC). Sec. Lopez said that by linking and collaborating with other businesses and investors within the ASEAN region, local startups can scale up their operations and create more opportunities for jobs and employment. Sec. Lopez, with ASEAN NOC Director General for Operations Marciano Paynor Jr. (6th from L), DTI Undersecretary Nora Terrado (5th from L), Export Marketing Bureau Director Senen Perlada (Leftmost), Presidential Adviser Joey (4th from L) Concepcion, and YEI Advisory & Operating CEO Victoria Elenowitz (2nd from L), also led the opening ceremony of the Slingshot Startup Alley, which featured over 50 technopreneur exhibitors across the ASEAN region.
by admin | Oct 20, 2017 | Photo Story
PH TO EXPLORE TRADE OPPORTUNITIES WITH CUBA. Trade Secretary Ramon Lopez (left) recently met (18 October) with Cuban Ambassador to the Philippines Ibete Fernandez Hernandez (right) to discuss possible cooperation between the Philippines and Cuba, exploring mutually beneficial points between two countries. As Cuba’s Universal Health Care System is globally recognized for its excellence and efficiency, Sec. Lopez discussed with the Cuban Ambassador the possible collaboration of two countries in the field of healthcare and service. Undersecretary Nora Terrado, likewise shared that the Philippines is one of the largest manufacturers of serums and syringes around the world. According to Secretary Lopez, Cuba’s strategic geographical location in Latin America could be an advantage for the Philippines to penetrate the South American market. “We are open to explore avenues of cooperation, and our companies here in the Philippines are actually keen on expanding their operations abroad,” said the trade chief. Department of Trade and Industry (DTI) will soon form and facilitate Joint Committee with Cuba to explore more ways of intensifying cooperation between two countries.
by admin | Oct 20, 2017 | ASEAN agenda, DTI Updates
Startup Asia Berlin (SUAB), the German-Asian startup platform that aims to enable the professionalization and direct cooperation between startup ecosystems of Berlin, Manila, Bangalore and Jakarta, will conduct its second Asian roadshow from 19 to 28 October 2017.
For the Manila leg and SUAB’s first Asian stop, the 2017 roadshow delegates will be participating at Slingshot ASEAN on 20 October, where they will engage in panel discussions and workshops. Particularly, SUAB, in partnership with QBO and the UNDP, are spearheading the panel on social innovation – a discussion on how startups can create social impact.
The Department of Trade and Industry (DTI), through its representative office in Germany – the Philippine Trade and Investment Center (PTIC-Berlin), has been collaborating with Berlin Senate on various activities related to startup ecosystem development. The visit of DTI Undersecretary Nora K. Terrado to Berlin in March 2017 and the participation of DTI Export Marketing Bureau (EMB) Director Senen Perlada in the Asia Pacific Weeks Berlin in May 2017 facilitated the SUAB participation in Slingshot ASEAN.
Slingshot ASEAN 2017 organized by the DTI, aims to highlight the milestones of the startup community in the Philippines and across ASEAN. With the theme, “Partnering for Change, Engaging the World,” this summit will present a platform for new breed of businesses that are still in their preliminary phase.
The SUAB roadshow delegation is composed of eleven (11) participants from Berlin and five (5) participants from each of the partner ecosystems representing various sectors such as fintech, IoT (internet of things), digital health, 3D movie production, and social innovation, as well as coworking spaces, innovation hubs and incubators. The delegation will travel through Manila, Jakarta and Bangalore with a program of matchmaking, business visits, excursions and participation in various international start-up events and conferences.
The city of Berlin, currently counting 1,800-2,400 startups, ranks 7th in the 2017 Global Startup Ecosystem Report. Said report was conducted by Startup Genome LLC and ranked startup cities in terms of access to funding, extent of market research, talent availability and start up performance and experience.
The StartUp AsiaBerlin program partners include the Unit for International Cooperation of Berlin’s Ministry for Economic Affairs, the Deutsche Gesellschaft für International Zusammenarbeit (GIZ), Impact Hub Manila, Indo-German Chamber of Commerce in Bangalore, and HI Indonesia. The project is funded by the German Federal Ministry for Economic Cooperation and Development (BMZ).
by admin | Oct 20, 2017 | Headlines
A startup from Cagayan de Oro will represent the Philippines all-expense paid in Start Jerusalem (Start JLM) on 5-11 November 2017 after besting four other local startups during the Pitch Jerusalem, a pitch competition for innovative technology-based startups, held at the QBO Innovation Hub in DTI International Building, Makati City last 9 October 2017.
Headed by Co-Founder John Vincent Fiel, Wela School Systems is an EdTech Startup which aims to lessen the faculty’s burden when it comes to academic reports. The startup offers a cloud-based grading platform that would enhance the productivity of teachers by automating reports and reducing the use of unnecessary spreadsheets. Also, they created a system that provides a better workflow for educators.
In Wela’s way, Mr. Fiel explained that instead of making multiple excel sheets, users can reduce it to two sheets and upload it to their system. Wela will do all the reports that teachers need, including the report card of the students, list of honors, and certificates, among others. Using the system could help the educators finish their report requirements in two days from average of two weeks before. Basically, the main goal is to automate the teachers’ end- to-end process.
The startup is currently serving eight private schools in CDO, Mindanao and is currently scaling in Luzon and the Visayas. Aside from assisting the teachers, Wela School Systems also has a mobile application for parents to help them track their children’s attendance, homework, grades, and receive announcements from the school, among others.
Together with representatives of other winning startups worldwide, Wela will be part of the “boostcamp” with workshops and sessions designed to take their product or solution to the next level.
The pitch competition was presented by the Israel Chamber of Commerce of the Philippines and the Embassy of Israel in the Philippines, in cooperation with the Department of Trade and Industry – Export Marketing Bureau (DTI-EMB), Department of Science and Technology (DOST) and QBO Innovation Hub and ICCP Platinum Sponsor, Dayanan Business Consultancy and Event Sponsors TrueLogic Online Solutions and Payoneer.
Among the 30 startups who submitted their applications for the PITCH Jerusalem, five were invited to present their pitch. Aside from Wela School Systems, the four other startups who presented were Enguest, JazzyPay, MachiBox, and Teratomo.
The panel of judges were composed of Israel Chamber of Commerce of the Philippines (ICCP) President Itamar Gero, ICCP VP for External Affairs David Elefant, ICCP Director Sagiv Massad, and Department of Science and Technology (DOST) – International Cooperation Assistant Secretary Dr. Leah Buendia. Embassy of Israel Deputy Consul General Yulia Rachinsky-Spivakov also graced the event.
Start JLM 2017 will gather startup founders around the world to explore and experience Jerusalem’s booming start-up ecosystem. The city has been recognized to be one of the emerging technology and innovation hubs around the world.
The pitch competition was presented by the Israel Chamber of Commerce of the Philippines and the Embassy of Israel in the Philippines, in cooperation with the Department of Trade and Industry – Export Marketing Bureau (DTI-EMB), Department of Science and Technology (DOST) and QBO Innovation Hub and ICCP Platinum Sponsor, Dayanan Business Consultancy and Event Sponsors TrueLogic Online Solutions and Payoneer.
