by admin | Jul 25, 2017 | DTI Updates, National News
In its effort to increase trade and investment opportunities from various markets, the Philippine Department of Trade and Industry (DTI), represented by the Philippine Trade and Investment Center (PTIC) in Toronto, is set to hold a breakfast forum dubbed as “Trade and Investment Opportunities in the Philippines” on 26 July at the Pinnacle Hotel in Vancouver, British Columbia.
The forum is made possible with the support and cooperation of the Philippine Consulate General in Vancouver. Hon. Consul General Neil Frank Ferrer is expected to open the forum while Philippine Ambassador to Canada H.E. Petronila P. Garcia will serve as a keynote speaker. Special guests from various Canadian sectors led by Aquilini Renewable Energy Ltd. and Corinthian Distributors Ltd. will share their experience in doing business in the Philippines.
“The Philippines would like to see more investments from Canada given the vast potentials in manufacturing and services in the areas of IT-BPM, specifically game development and animation, agri-based industries, and aerospace”, according to Senior Trade Commissioner Maria Roseni Alvero. Alvero is also set to present trade and investment opportunities in the Philippines during the event.
“We also aim to double our exports to Canada particularly of food products and IT-BPM services in the next few years,” added Alvero.
The five-day trade and investment outreach to Western Canada aims to introduce the services of the recently opened DTI Office, also known as the Philippine Consulate General (Toronto) Trade Section. It opened its new location in Downtown Toronto last 1 July 2017. The office currently caters to all provinces and territories of Canada. Similar outreach programs are scheduled for the other regions in Canada.
by admin | Jul 23, 2017 | Local News / Bohol Balita
By JUNE S. BLANCO
IMPROVED ports may serve best the population today but these may be insufficient in the coming years.
Rep. Erico Aristotle Aumentado (Bohol, 2nd District) made this observation after noting that development is dynamic.
Seafaring vessels are becoming bigger, bringing in and out of ports bigger batches of passengers and cargoes each time, he noted.
Aumentado said while expansion and extension of the ports of Clarin, Buenavista and Getafe towns are in place with the P60 million savings in the 2015 budget of the then Department of Transportation and Communications (DoTC), improvement must not stop there. The three ports had gotten P20 million each.
This early, he said, studies must already be made for the further development of these ports, specifically the establishment of roll on-roll off ramps and sturdy mooring facilities.
These facilities will enable bigger vessels to seek harbor or shelter should they be near these ports during storms or typhoons.
And while they are at it, the solon said the studies must include mooring facilities to accommodate power barges as well.
Aumentado is pushing for the development of local power sources. But, he pointed out, it will still be to Bohol’s advantage to be ready for power barges.
The gestation period for the more serious development of locally-generated power will be long, he admitted, hence the mooring facilities will be an advantage.
The Clarin, Getafe and Buenavista ports are also gateways to and from Bohol. The improvement expands the previously limited berthing areas that used to accommodate just one passenger banca at a time – leaving no more space for pump boats to dock.
The solon said he wanted to improve the gateways to make development come in.
He cited the case of Dubai that built alongside its international airport a hospital. Before long, he said, locators came in droves to set up businesses near the airport and the hospital because of the potentials for expansion.
As things are, he said, goods get to the people of Clarin, Getafe and Buenavista by shipments from Cebu to the ports of Ubay, Talibon or Tubigon – which are bigger – to be transferred by land.
The additional cost of the land trip increases the prices of these goods. The businessmen, however, merely pass on the increase to the consumers.
With the extended and widened ports, more goods at reasonable prices will be available in these and in neighboring towns. Fast crafts now at the Getafe port for regular daily trips from Cebu and back daily will soon also be familiar sights at the Clarin and Buenavista ports, Aumentado added.
by admin | Jul 20, 2017 | National News
PASAY—With the adoption of the Manila Call to Action (MCA) for ASEAN MSMEs, all 10 ASEAN Governments, including the Philippines, are called to pursue affirmative actions for MSME development.
Adopted at the ASEAN MSME Development Summit on 14 July, the MCA strongly urges all ASEAN Member States (AMS) to dedicate fund to power programs and initiatives on MSME development.
“True to its name, the document is a call to action. We rally to purse 7Ms for MSME development and to translate our aspirations into deliberate actions at the regional, national and local levels,” said ASEAN Economic Ministers chairman and Trade Secretary Ramon Lopez.
The trade chief refers to the 7Ms, namely, mindset, mastery, mentoring, money, machines, markets and models. The 7Ms is the holistic MSME development strategy proposed by the Philippines to drive shared prosperity in the region.
“What we are discussing in our local engagements is now receiving regional attention. This is only indicative of the regional applicability of our grassroots efforts to help MSMEs move up in life,” he added.
The MCA has been concluded with the collective efforts of the private sector, civil society and government from across ASEAN, bringing together knowledge, perspectives and experience in growing MSMEs.
According to Sec. Lopez, MSMEs must be full participants and beneficiaries of the economic dynamism that the current ASEAN integration brings. To this end, MSMEs’ role and contribution in attaining inclusive, people-centered ASEAN must be further strengthened.
Said outcome document has subsections that purposely pertain to the 7Ms.
On mindset, mastery and mentoring, the MCA calls on integrating entrepreneurship values and skills in the educational system spanning all levels. A convergence mindset in all government entities that recognizes the centrality of MSME development is envisioned.
“An all-of-government approach for MSME development is needed across all ASEAN Member States,” Sec. Lopez said.
On money access, the MCA reiterates the importance of setting up alternative financial instruments to better serve MSMEs’ financing needs. In this regard, an appropriate regulatory framework to govern institutions shall be created. Financial literacy and management for MSMEs should also be intensified.
On machines, the MCA stresses the importance of establishing research and development centers, improving the government’s assistance programs and providing more platforms and opportunities for knowledge sharing on non-proprietary machines and technologies.
A unified ASEAN digital marketplace is aspired to reach MSMEs beyond national borders. To boost market access, the MCA also calls to ensure quality compliance to sustain global competitiveness of ASEAN products and services, as well as to widen linkages of MSMEs to the regional value chains.
“We advocate for the promotion of social enterprises, highlighting the community-based approaches to enterprise development, said Sec. Lopez, adding that the inception of an ASEAN MSME starter kit map that compiles different business models for MSMEs is crucial.
“We should not wait for growth to trickle down. The MCA is set to pave the way towards region-wide prosperity that is powered by our MSMEs, thus spurring growth from the bottom of the pyramid,” he concluded.
by admin | Jul 20, 2017 | Tech Talk
Tech startups from around the world are invited to join the 3rd Geeks on a Beach (GOAB) international pitchfest and submit their online applications on or before the contest deadline on July 31, 2017.
The startup competition focused on innovative tech ideas, which has become an annual fixture at the GOAB confab, will be giving out US$1,000 micro fund and a GOAB designer trophy to the winner.
The GOAB 2017 international pitchfest will be held on August 25, 2017 as part of this year’s GOAB international tech and startup conference that will be held for the first time in Palawan, Philippines.
“The GOAB pitchfest is open to all early stage tech startups with revenue and traction. Submit your applications and get the chance to pitch your product to potential investors on the GOAB stage,” said Tina Amper, TechTalks founder and GOAB lead organizer.
The pitchfest is open to all startups less than 3 years old and at the early stage with revenue for at least 6 months. However, only startups with a functional prototype or production-level products for demonstration are eligible to participate.
The announcement of the top 5 startups, which will be invited to pitch in person during the GOAB confab, will be on August 4. The winning teams must be able to attend in person in order to pitch at GOAB.
“While it’s true that pitching does not guarantee that your startup will get funded. The act of pitching in a public venue is a step forward in getting you publicity, support, and feedback from the community,” said Amper.
She said GOAB pitchfest is the best venue to build a relationship with the right mentor or investor who understands a startup’s niche or boost its chances to make it big by ensuring that their product meets rigorous public expectations.
GOAB conference ticket discounts will also apply to the first 20 teams who will apply for the pitchfest. They will receive the promo code when they complete your application. However, all startups are responsible for their own airfare and accommodation.
PLDT, Smart, Voyager, PayMaya, ePLDT, Smart DevNet, PLDT Enterprise, and PLDT Innolab are supporting GOAB as co-presenters while ASPACE Philippines is co-producer. GOAB is held in partnership with the City Government of Puerto Princesa and Palaweño ICT Association. The official airline partner is Philippines Airasia and the official ticketing partner is Ticketbase. The silver sponsors include Payoneer, Zalora, PouchNATION, Istorya.net, Synergy 88 Digital, Uniform Solutions, and AtoX Solutions. The bronze sponsors are NXTLVL Academy, LabPH, Spring Valley Corporation, NorthRidge Partners, and Amazon Web Services.
The media partners are e27, Tech in Asia, Bohol News Daily by Auza.net, Innopub Media, Geeks in Cambodia, Asian Journal Publications, Balikbayan Magazine, Mobile Ecosystem Forum, ConnectedWomen.co and QueenCityCebu.com, The organizational partners are the Philippine Software Industry Association, the National ICT Confederation of the Philippines, UP CeBuinIT, Digital Commerce Association of the Philippines, Developers Connect, Science and Technology Advisory Council – Silicon Valley, Mynimo, Teradoor, Israel Chamber of Commerce Philippines, and the Cloud Security Alliance Philippines. GOAB is supported by Orange Hub and iSkwelahan.com.
GOAB is organized by TechTalks.ph, powered by Sym.ph, branding by Happy Garaje, and pr by PRWorks. For registration or partnernship information or further details, visit www.GeeksOnABeach.com, follow on Twitter/Facebook Geeks On A Beach, or contact hello@GeeksOnABeach.com.
by admin | Jul 19, 2017 | DTI Updates, National News
MAKATI—Inclusive business model is not just about helping small players, as big companies also benefit from partnerships that this model creates, the country’s trade chief said.
Speaking at the League of Corporate Foundations’ Corporate Social Responsibility (CSR) Expo on 19 July, Department of Trade and Industry (DTI) Secretary Ramon Lopez called on companies to continuously innovate even on its processes to adopt an inclusive business (IB) model for its CSR initiatives.
“If CSR is about the practice of ‘doing good is good business,’ the government is about generating business to do good,” said Sec. Lopez.
He added that that the administration of President Rodrigo Duterte is sincere in helping the poor and those who have less in life by providing more opportunities for jobs and entrepreneurship, and inclusive business is a viable option for this.
According to him, while private and public sectors have different approaches to practice inclusivity, the synergy between the two should push the shared goal of improving the quality of life of every Filipino, thus making a symbiotic business model.
“We encourage the corporate sector to integrate the IB model in their respective CSRs. With the big brother-small brother connection, the government is now developing a simplified formula to properly incentivize companies that integrate small players in their value chains,” he said.
Sec. Lopez mentioned that the government’s focus in implementing this initiative is on the micro, small and medium enterprises (MSMEs), adding that programs and initiatives that aim at developing MSMEs can only mean greater economic success for the country.
“With the creation of new business ventures and the push for innovation in existing MSMEs as critical parts of an inclusive innovation process, we can now focus on strategies to promote innovation-led entrepreneurship,” he added.
The trade chief said that by aligning inclusive innovation with the overall goal of inclusive economic growth, the impact can reach the marginalized sectors, where business process innovations have the potential to reduce inequality in the country.
He added that in ushering an entrepreneurial revolution, there is a need to generate smarter, idea-based entrepreneurs, who are value-adding and carry ideas with unique selling propositions.
Sec. Lopez shared with the corporate foundations current initiatives under the Dutertenomics framework to widen the gains of development, address income inequality and alleviate poverty, including the Build Build Build infrastructure program that promotes more regional and rural growth centers. He also mentioned DTI platform to develop MSMEs, as well as the outcomes of the recently concluded MSME Development Summit.
“Big companies integrating small companies in their value chains will make the CSR more inclusive and sustainable,” he concluded.
by admin | Jul 19, 2017 | National News
Philippine micro, small and medium-sized enterprises (MSMEs) who want to expand their market overseas, especially in highly-developed markets such as Switzerland, the European Union (EU) and the United States (US), were urged to avail free legal service provided by international trade lawyers.
Philippine Trade and Investments Center (PTIC) – Geneva Commercial Attache Magnolia M. Uy cited international law firm Sidley Austin LLP’s Emerging Enterprises Pro Bono Program to help poor, rural and disadvantaged communities by providing free legal support to MSMEs and market-focused non-government organizations (NGOs). Through technical guidance and hand-holding, MSMEs can benefit from, among others, legal trade advice on market access requirements, as well as better understanding intellectual property rights and patents for innovative ideas.
For many MSMEs around the world, legal barriers are among the key hindrances to trade. Since the program’s introduction in 2012, however, over 120 MSMEs from more than 30 countries have benefitted from timely and relevant legal trade advice. These include, among others, an Indonesian chocolate producer overcoming challenges in the EU market because its formula has to meet EU’s minimum cocoa requirement; shea producers who are unable to sell products containing shea to Indian buyers because of regulatory restrictions; and an African clean cook stove enterprise entangled in an intellectual property dispute with a Chinese company.
Further to this, the program works toward enabling more MSMEs in the developing countries to participate in e-commerce by helping them address constraints. E-commerce has always been touted as a key enabler for MSMEs worldwide to participate in global trade. However, it entails legal requirements in order to be realized. Among top considerations that MSMEs need to address are: effective privacy policy that protects producers and buyers during the online transaction; online business transactions that must be carried out on the basis of enforceable and internationally recognized buyer-seller contracts; and intellectual and market access requirements.
Eligible Philippine MSMEs interested in the program were urged to avail of the pro bono support through the assistance of Philippine Trade and Investment Center (PTIC) in Geneva.
by admin | Jul 18, 2017 | Local News / Bohol Balita
Peasant group Kilusang Magbubukid ng Pilipinas (KMP) said they are preparing for the worst under the second year of Duterte’s presidency. “We have seen a preview of the worst things to come. We know what to do – we fight and defend our rights, now and always.”
“Things are taking a turn for the worst under Duterte. His first year is marked with unfulfilled promises, promotion of neoliberal policies and militarism. His declaration of Martial Law in Mindanao is enough reason for people to mobilize and protest his State of the Nation Address (SONA) on July 24,” said Danilo Ramos, the newly-elected chairperson of Kilusang Magbubukid ng Pilipinas (KMP).
“We will make President Duterte accountable for his unfulfilled promises. We will continue to assert genuine land reform, free land distribution and the lifting of Martial Law. We will continue to defend our democratic rights in the face of Duterte’s all-out war,” the KMP leader said.
“Instead of seriously addressing the People’s Agenda that was presented to his administration last year, Duterte allowed his economic managers to come up with ‘Dutertenomics’ that essentially perpetuates pro-foreign and pro-business neoliberal policies. The people’s clamor for genuine land reform and national industrialization fell on deaf ears. The peace negotiations that are supposed to come up with a Comprehensive Agreement on Social and Economic Reforms (CASER) were stalled and not gaining any headway due to the GRP’s dogged determination to force a ceasefire and lack of sincerity in the peace process,” Ramos said.
Ramos added, “President Duterte can either choose to genuinely side with the people or face wider mass protests and resistance against his presidency.”
Peace talks, CASER relevant and needed
The KMP leader said the peace negotiations and the forging of a CASER is still important.
“The GRP should do its task and cooperate with the NDFP in accelerating the peace talks and the CASER. But it seems that what the GRP have accomplished so far is to delay talks and disagree with many of the pro-people proposals forwarded by the NDFP.”
“Although the GRP peace panel agreed in principle to free land distribution, farmers know that we can only realize this through our struggle and assertion. Dismantling land monopoly is the first key step in achieving genuine land reform and rural development,” Ramos said.
KMP said it will mobilize tens of thousands in a nationally-coordinated protest coinciding with Duterte’s SONA.
Prior to the SONA, farmers organizations will launch actions ranging from occupation of lands, protest camp-outs, barricades and Kadenang Magsasaka in towns, provinces and regions.
“Farmers, fisherfolk and agricultural workers nationwide will link arms and demand genuine land reform,” said Antonio Flores, KMP secretary general.
On July 23, farmers will lead in the State of the Peasant Address outside the Department of Agrarian Reform (DAR). Contingents from Central Luzon and Southern Tagalog will proceed to the National Capital Region to join the multisectoral mobilization on July 24. ###
Reference: KMP Chairperson Danilo Ramos, 0999-4363493
by admin | Jul 16, 2017 | Local News / Bohol Balita
By JUNE S. BLANCO
POOLED outputs of small power plants in Bohol can add up to more locally generated electricity.
Rep. Erico Aristotle Aumentado (Bohol, 2nd District) said the province’s size and sources of energy that can be developed into power plants limit production to only around 10 megawatts each – just little more than the production of existing mini hydroelectric plants in Ewon in Sevilla, Hanopol in Balilihan and Tontonan, Loboc.
But he still welcomes developers planning to invest in power plants in Bohol using renewable sources as these do not adversely affect the prime economic drivers of the province – agriculture and tourism.
Aumentado if Bohol’s leaders can convince and bring in interested parties to establish power plants here, be they another hydroelectric, biomass, waste-to-power, solar or nuclear, adding all their outputs can up the locally generated power to boost the power reserve.
“Only in power production is redundancy allowed – even required,” the solon stressed.
To allay people’s fears of a repeat of the Chernobyl, Russia and Fukushima, Japan nuclear plant accidents and disasters, however, Aumentado, together with Zamboanga del Norte 1st District Rep. Seth Frederick Jalosjos, filed House Bill 3651 seeking to create a nuclear energy regulatory body.
The solon is currently in Vienna, Austria, on a scientific visit to the International Atomic Energy Agency (IAEA) at the Vienna International Center. The attendees will attend briefings and participate in discussions on key aspects of comprehensive nuclear laws.
These include the establishment of an independent regulatory body, nuclear safety and security requirements, safety of nuclear installations, radioactive waste and spent fuel management, safe guard and civil liability for nuclear damage, as well as the related international legal instruments, particularly in the context of developing an adequate legal framework to support a nuclear power program in the Philippines.
He said this will prepare the Philippines should investors opt to develop nuclear energy.
He has also talked with an investor keen on producing energy from waste – including plastics – as well as biomass, to meet the power demands of Bohol’s 2nd District.
He said the former will cut government spending for the establishment of sanitary landfills. Funds saved from this, he said, can then go to infrastructure and even social projects instead.
The solon expressed confidence that the mix of sources now and soon to be available will ultimately meet the growing power demands of the entire district – and even the province – without depending too much on the geothermal power plant in Tongonan, Leyte.
An added advantage of biomass, he explained, is the residuals in the conversion of biomass into power can be utilized as fertilizer – organic at that.
The move, Aumentado said, will put his district one step closer to his aspiration of making it Bohol’s first “green”, that is, environmentally sound, district.
The waste and the biomass will separately undergo both aerobic and anaerobic procedures, he said.
The investor, he said, will visit Bohol anytime soon to determine the volume of waste and biomass that the district can produce to feed the waste conversion and the biomass power plants to produce from one to two megawatts of energy. He echoed the investor as saying that “the more waste, the more there will be energy”.
He also said for more biomass, the investor is likewise keen on tapping his constituents to plant feed stocks on public lands.
The leaves will be for food for ruminant animals while the waste – parts of the plant that the animals find “not tasty” and will not eat will be fed to the biomass power plant.
by admin | Jul 14, 2017 | DTI Updates
MANILA—The Philippines, through the Department of Trade and Industry (DTI), continues to advance the promotion and development of micro, small, and medium enterprises (MSMEs) in the ASEAN region through the “ASEAN MSME Development Summit” on 14 July.
Under the Summit’s theme “7Ms Towards Shared Prosperity in ASEAN,” the Philippines laid out a seven-point strategy essential for MSME development—mindset, mastery, mentoring, markets, money, machines, and models—which the country wants the region to adopt to advance the ASEAN economic agenda of shared prosperity.
The Summit gathered representatives from the private sector, civil society, and ASEAN governments to develop new ideas and identify areas of improvement to successfully place MSMEs in the vanguard of the ASEAN Economic Community’s (AEC) drive to achieve inclusive growth.
“The Philippines has been in the forefront of providing substantive initiatives toward establishing MSMEs at the core of the ASEAN economic agenda. We want to elevate discussions and provide the right information on how we can further assist them to support our goal of achieving inclusive growth in ASEAN,” said ASEAN Economic Ministers chairman and DTI Secretary Ramon Lopez.
The development of MSMEs is integral to sustaining the economic development in ASEAN since MSMEs comprise most of the businesses in the region’s aggregate regional economy, accounting for over 90 percent of all the domestic firms and 75 to 90 percent of the non-agricultural workforce.
In pushing the MSME agenda, the Philippines seeks to address key challenges in their development and achieving prosperity in the region.
Experts in various fields discussed the seven-point strategy taking into account the challenges that small enterprises face.
Session 1 with Mindset as a theme, provided discussions on how to train and orient entrepreneurs with the right entrepreneurial characteristics and attitude.
Sessions 2 and 3 on Mastery and Mentoring, tackled the core principles of entrepreneurship that will equip MSMEs with the necessary competence and effective knowhow to seize gains for their ventures.
Session 4 covered Markets, a key component in the survival of any business. It discussed how markets are made more accessible and the various technologies that can help MSMEs gain traction in the local and international arenas.
Session 5 on Money took a closer look on financing schemes that MSMEs can further explore and access and some key initiatives governments undertake to facilitate access to much needed capital.
Lastly, Session 6 and 7 gave an insight on how access to appropriate Machines and technology, and choosing the right business Models can help upgrade their businesses, boost productivity, and improve marketability of products and services.
“MSMEs comprise the backbone of our economy and thus vital to the country’s growth. With the help of 7Ms, we know MSMEs are a step closer to advancement,” said DTI Undersecretary for Regional Operations Zenaida Maglaya.
ASEAN government representatives and MSMEs graced the event and expressed full support to the Philippines’ call for greater cooperation in placing the interest of MSMEs at the core of the AEC agenda.
The ASEAN MSME Development Summit was organized by the ASEAN Committee on Business and Investment Promotion (CBIP), which is chaired by the DTI, and the DTI Bureau of Small and Medium Enterprise Development (BSMED).
The CBIP’s mandate is to organize business and investment promotion activities that will engage the international business community, government, and other concerned parties in the drive to achieve the AEC’s goal of shared prosperity in the ASEAN region.
During the Summit, the Philippines’ DTI also launched “SIKAP: Sipag at Abilidad ng Pilipino,” a coffee table book that showcases success stories of MSMES across the Philippines. It also mounted a Go Lokal! Trade Exhibit, which showcased world-class products of Philippine MSMEs.
The Philippines’ Chairmanship of ASEAN 2017 was formally launched on 15 January at the SMX Convention Center in Davao City with the theme “Partnering for Change, Engaging the World.”
by admin | Jul 13, 2017 | National News
HONG KONG—A free trade agreement between ASEAN and Hong Kong will reinforce the latter’s role as the premier gateway into and out of Mainland China, boosting trade and investment across Asia and the world including ASEAN.
A day after announcing the signing of the ASEAN-Hong Kong Free Trade Agreement (AHKFTA) in November in Manila, ASEAN Economic Ministers chairman and Philippine Trade Secretary Ramon Lopez discussed the elements covered by said agreement during the ASEAN-Hong Kong Business Conference on 12 July.
“We are hopeful for greater trade and business opportunities with AHKFTA in place, reinforcing Hong Kong as the key gateway to China,” said Sec. Lopez.
Aside from the FTA, also for signing in November at the sidelines of the 31st ASEAN Summit is an investment agreement between both sides.
The AHKFTA covers elements related to trade in goods and related issues such as tariffs, rules of origin, non-tariff measures, customs procedures and trade facilitation, trade remedies, technical barriers to trade, and sanitary and phytosanitary measures.
It also touches on trade in services; investment; intellectual property rights; dispute settlement; horizontal and institutional issues; economic and technical cooperation; and other areas of interest to be mutually agreed upon.
In 2015, Hong Kong was ASEAN’s 7th largest trading partner. While ASEAN was Hong Kong’s 2nd largest trading partner, after China for the same year.
Total merchandise trade between ASEAN and Hong Kong amounted to HKD 823.3B or US$ 106.1B. This amount represents 10.8% of Hong Kong’s global merchandise trade in 2015, registering an annual average growth rate of 3.2% per annum between 2011 and 2015.
To date, there are more than 500 ASEAN companies in Hong Kong, including regional headquarters, regional offices and local offices. They account for 6.6% of the total number of foreign companies in Hong Kong.
In this regard, the trade chief encouraged businessmen from ASEAN Member States (AMS) and Hong Kong to continue partnering with ASEAN, particularly with the Philippines, which currently experiences economic resurgence with strong macroeconomic fundamentals and high investors’ confidence.
With the instrument in place, the Filipino business community can expect broader trade engagements with their Hong Kong counterparts.
In 2016, Hong Kong was the Philippines’ 5th trading partner, 3rd top export market, and 10th import supplier with total bilateral trade valued at US$9.11B in 2016. In terms of investments, Hong Kong ranked as the 15th source of IPA (investment promotion agencies)-approved investments in the Philippines.
“Hong Kong is a viable target market for Philippine consumer goods and brands, with Hong Kong serving as a gateway to the China market by providing other economies with a venue for marketing their goods to Mainland China consumers,” Sec. Lopez said.
In addition, Hong Kong hosts an estimated 60 million tourists a year, of which 40 million are from the Mainland. Such fits with the initial assessment of the Philippine Export Marketing Bureau that the Philippines can promote products in Hong Kong, including jewelry and design-driven products like luxury furniture, home furnishings, decors and fashion accessories, according to the trade chief.
With regard to services, both sides are exploring cooperation to develop education services, computer and related services, professional services and other business services, all of which are of interest to the Philippines.
Sec. Lopez also shared that ASEAN continues to make strides towards integrating the region into the global economy through its active FTAs with dialogue partners China, Japan, Korea, India, Australia, and New Zealand.
by admin | Jul 13, 2017 | DTI Updates, National News
In support of an “Inclusive, Innovation-led Growth” for a strong ASEAN Economic Community (AEC), the Philippines, through the Department of Trade and Industry (DTI), is conducting today the ASEAN 2017 MSME Development Summit at the Philippine International Convention Center (PICC), Manila, the Philippines.
The Summit will place the interests of MSMEs at the center of the ASEAN Economic Community (AEC) agenda and putting together the MSME advocates, mentors, enablers and business experts from the ASEAN region who can help develop, handhold, and empower the MSMEs and spread the economic fruits of the AEC dream.
With the theme, “The 7Ms Towards Shared Prosperity in ASEAN,” the DTI aims to gather insights from thought leaders and experts addressing the 7Ms that sum up the elements of the approach and framework for enabling and fostering the MSMEs.
“Through the 7Ms, we’ll empower the MSMEs so they can also share in the benefits of the ongoing economic growth, and improve the quality of their lives by engaging in vibrant entrepreneurial activities,” said DTI Secretary Ramon Lopez.
The seven-point strategy includes Mindset, Mastery, Mentoring, Markets, Money, Machines, and Models of Business. These will equip the entrepreneurs in making a difference in the market while contributing to the larger cause of sustaining the entrepreneurial revolution in ASEAN.
MSMEs are integral to the economic development and growth of the ASEAN region as they outnumber large enterprises in both quantity of establishments and share of the labor force they employ. The ASEAN MSMEs comprise the 95-99% of all business establishments, generating between 51% and 97% of employment. .
“We are advocating the 7Ms of DTI Secretary Ramon Lopez in helping the entrepreneurs set up their businesses and be a smarter entrepreneur. And this 2017, in time for the country’s hosting of ASEAN, we want to advance and mainstream the 7Ms in ASEAN region,” said DTI Regional Operations Group (ROG) Undersecretary Zenaida Maglaya.
More than 20 caliber speakers and panelists from ASEAN Member States (AMS) will share inspiring and valuable stories of leadership and entrepreneurial journey on various plenary discussions on Promoting MSME Development Mindset, Mastery and Mentoring Toward Competitiveness and Resilience, Accessing Domestic and Regional Markets, Overcoming Money Hurdles, and Machines and Proactive Business Models Toward Productive and Responsive MSMEs.
At the end of the Summit, prominent business takeholders and key players will provide support and recommend priority actions towards helping achieve economic prosperity in the region through MSME development.
