Headlines
DTI, DPWH launch ROLL IT Project in Region 1 More industry and infrastructure development projects seen to advance business
San Fernando, La Union – The Department of Trade and Industry (DTI) and Department of Public Works and Highways (DPWH) Region 1 rolled out the new convergence program that would promote economic growth and infrastructure development in the region. The Roads Leveraging Linkages for Industry and Trade or ROLL IT Program aims to further the growth of investments and other economic activities in the country through more road projects leading to manufacturing and economic zones. 5 Launched in November 2016, the two government agencies signed a memorandum of agreement (MOA) for the ROLL IT project implementation on road connectivity for industry and trade development. Under the agreement, DTI will identify areas where industry sectors need road facilities and connectivity. The ROLL IT Convergence Program will be one of the strong platforms of the promise of a Golden Age of Infrastructure for the Philippines, through a target of national infrastructure budget of 7% of Gross Domestic Product, roughly equivalent to around P8.2 trillion. Present during the ROLL IT launching were representatives from the Board of Investments (BOI), supporting non-government organizations (NGOs), United States Agency for International Development (USAID) Advancing Philippine Competitiveness (COMPETE) Project. A total of 21 project proposals to be enrolled in the program were submitted to USAID-COMPETE for evaluation. Most of proposals concern the conduct rehabilitation and construction of access roads from manufacturing sites to marketing areas. The ROLL IT Program will further fuel the recent high growth of domestic investments as well as the surge in foreign direct investments of the country, through more road projects funded within 2016-2022. The ROLL IT program’s goal is to prioritize... read morePH’s economic priority deliverables in ASEAN reaffirm inclusive growth agenda
The 31st High-Level Task Force on ASEAN Economic Integration (HLTF-EI) convened on February 15-16 in Manila, gathering high-ranking ASEAN trade officials to discuss the implementation of the ASEAN Economic Community (AEC) Blueprint 2025. HLTF-EI Chairperson and Permanent Secretary of the Ministry of Foreign Affairs and Trade of Brunei Darussalam Dato Lim Jock Hoi said that ASEAN needs to remain strong and united as the region navigates and charts its course ahead “collectively as ASEAN.” Representing the Philippines, Undersecretary for Industry Development and Managing Head of the Board of Investment Ceferino Rodolfo laid down the Philippine priority deliverables for 2017, highlighting the country’s agenda on inclusiveness and innovation with a focus on increasing trade and investments, integrating micro, small, and medium enterprises (MSMEs) in the digital economy, and developing an innovation-driven economy. “Inclusiveness should be intrinsic to the ASEAN agenda. The AEC Blueprint 2025 development framework will be most effective if it results from inclusive and open multi-stakeholder participation, one that is informed by the perspectives of people, especially the marginalized,” Undersecretary Rodolfo said. The Philippines is taking the lead in seeking new policy interventions that are practical from the MSME perspective. These are expected to contribute towards helping MSMEs harness the opportunities presented by open and increasingly integrated markets. These initiatives range from free trade and trade facilitation, trade in services, investment, connectivity, and innovation: Maximizing the benefits of free trade agreements (Self-Certification for MSMEs, and Substantial Conclusion of the Regional Comprehensive Economic Partnership [RCEP]); Fostering a more facilitative and transparent trade in services regime and harnessing the contribution and global competitiveness of the ASEAN services sector (Conclusion of... read more