INDUSTRY NEWS

INDUSTRY NEWS
October 07, 2014
Exports Seen Growing 8%
The Philippine Star by Louella D. Desderio | Updated October 6, 2014 - 12:00am
http://www.philstar.com/business/2014/10/06/1376817/exports-seen-growing-8
The country’s total exports may grow by more than eight percent this year amid an expected recovery in
electronic products and sustained increase in service exports. Senen Perlada, executive director of the
public-private Export Development Council (EDC) and director of the Department of Trade and Industry’s
Export Marketing Bureau told reporters the country’s total exports could exceed the government’s
forecast of eight-percent growth this year. “We’re upbeat on the electronics exports,” he said citing the
Semiconductor and Electronics Industries in the Philippines Inc.’s (SEIPI) revision of its growth projection
for outbound shipments of electronic products this year. Last week, the SEIPI announced it was expecting
electronic exports to rise by five to eight percent this year from 2013’s $21.823 billion amid strong global
demand. Electronic products account for the bulk of merchandise exports. Apart from electronic products,
Perlada said the government also expects service exports such as information technology-business
process management and tourism sectors to continue to go up.
12 Korean Firms Seek Opportunities In Phl
The Philippine Star by Louella D. Desiderio | Updated October 7, 2014 - 12:00am
http://www.philstar.com/business/2014/10/07/1377210/12-korean-firms-seek-opportunities-phl
Twelve Korean firms engaged in manufacturing are interested in opportunities in the Philippines, the
Department of Trade and Industry (DTI) said. Trade undersecretary Nora Terrado told reporters the
ASEAN-Korea Centre organized a trade mission composed of 12 firms to the country last week to allow
the firms to check out opportunities here. The firms that are part of the trade mission are involved in food
processing and the manufacture of electronic products.
Phl To Hold Econ Roadshow In Tokyo
The Philippine Star by Zinnia B. dela Peña | Updated October 6, 2014 - 12:00am
http://www.philstar.com/business/2014/10/06/1376819/phl-hold-econ-roadshow-tokyo
Members of the Aquino administration’s economic team will hold a one-day roadshow in Tokyo to boost
and forge new business ties with Japanese companies. The roadshow, set on Oct. 8, will showcase
investment opportunities for Japanese firms in the tourism, energy and infrastructure sectors as well as in
the capital market. The Philippine delegation will be led by Finance Secretary Cesar Purisima,
Socioeconomic Planning Secretary Arsenio Balisacan, Public Works and Highways Secretary Rogelio
Singson, Tourism Secretary Ramon Jimenez Jr., and Securities and Exchange Commission chair
Teresita Herbosa. The event aims to showcase the Philippines’ economic performance as well as give an
update on the country’s development plans and targets for the medium term. President Aquino’s top
economic managers will also discuss the measures taken by the government to bring down fiscal deficit
as well as the income potentials from investing in priority sectors of the government.
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S’pore Firms Urged To Invest In Phl Infra Sector
The Philippine Star by Louella D. Desiderio | Updated October 6, 2014 - 12:00am
http://www.philstar.com/business/2014/10/06/1376812/spore-firms-urged-invest-phl-infra-sector
Manalo
The government has encouraged firms in Singapore to consider opportunities in the Philippine
infrastructure sector. Trade Undersecretary Ponciano Manalo Jr. told reporters he was in Singapore late
last month for an infrastructure road show organized by the Makati Business Club and Philippine British
Business Council. “We pushed for infrastructure (during the event),” he said. While there were no deals
yet from the event, he said Singaporean companies were interested to know more about business
opportunities in the country.
During the event, Philippine government officials presented opportunities in the infrastructure sector,
particularly projects under the flagship Public Private Partnership (PPP) program. The government also
encouraged investments in other infrastructure projects including roads, railways, airports, water and
healthcare. Eight PPP projects have been awarded by the government so far.
DTI Targets Increase In Phl Coffee Output
The Philippine Star by Louella D. Desiderio | Updated October 6, 2014 - 12:00am
http://www.philstar.com/business/2014/10/06/1376820/dti-targets-increase-phl-coffee-output
The Department of Trade and Industry (DTI) wants to increase the country’s coffee production to take
advantage of growing domestic and international demand. “There are vast opportunities in the regional
and global production networks that we can take advantage of. The quality of our workers and the quality
of our coffee beans will be key to the success of Philippine coffee in the domestic and international
markets,” Trade assistant secretary Ceferino Rodolfo said in a statement.Apart from the domestic market,
there are opportunities for the country to cater to demand for coffee in the Association of Southeast Asian
Nations (ASEAN) which has a population of 600 million. Coffee, like most goods in the ASEAN, have
been trading at zero tariff under the ASEAN Trade in Goods Agreement since 2010, in preparation for the
regional economic integration next year. The ASEAN Economic Community seeks to allow free flow of
goods, services, skilled labor, investments and capital within the region. To tap opportunities, the DTI is
implementing programs to support the growth of the country’s coffee production.
Coffee Summit Set In Davao Oct 15
The Philippine Star by Czeriza Valencia | Updated October 7, 2014 - 12:00am
http://www.philstar.com/business/2014/10/07/1377204/coffee-summit-set-davao-oct-15
Foreign experts on coffee cultivation are gathering for a summit in Davao City on Oct. 15 to share their
knowledge on best cultivation and trade practices, the Philippine Coffee Board announced late Sunday.
The 7th National Coffee Summit will be held at SEDA Hotel in Davao City. Among the guest speakers is
Dr. Dave D’Haeze, a Belgian coffee industry consultant based in Vietnam who has work experience with
farms yielding five to seven metric tons (MT) of coffee beans per hectare. The Philippines only yields 700
kilograms per hectare on the average and imports most of its coffee requirements.
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National Inventors Week set Nov 13-16
The Philippine Star | Updated October 6, 2014 - 12:00am
http://www.philstar.com/business/2014/10/06/1376828/national-inventors-week-set-nov-13-16
The Department of Science and Technology (DOST) has commissioned the Filipino Inventors Society
Producer Cooperative (FISPC) to spearhead the celebration of the National Inventors Week (NIW) next
month. The observance of NIW is also being supported by the Cooperative Development Authority
(CDA). FISPC chairman Francisco Pagayon said NIW will be held Nov. 13-16 in two venues: Upper
Ground Floor, Event Center, Fisher Mall along Quezon Ave., and at FISPC headquarters at the ground
floor of Delta Bldg., West Ave. corner Quezon Ave. Both sites are located in Quezon City.
PH Needs More Structural Reforms To Sustain Growth Above 6% – WB
Manila Times by Mayvelin U. Caraballo / October 6, 2014 10:36 pm
http://www.manilatimes.net/ph-needs-structural-reforms-sustain-growth-6-wb/132307/
The Philippines should pursue more structural reforms and invest further in human and physical capital to
sustain economic growth above 6 percent in the medium term, the World Bank said.
In its East Asia Pacific Economic Update released on Monday, the Washington-based lender said the
Philippines is positioned to remain on a high-growth path despite weak, but recovering, external
environment and the impact of natural disasters. “Strong macroeconomic fundamentals, along with sound
fiscal and monetary policies, would continue to support growth in the near term, while further structural
reforms would allow the country to sustain growth at above 6 percent in the medium term,” it said.The
World Bank said building on this achievement through deeper structural reforms would allow the country
to sustain its current high gross domestic product (GDP) growth rate, achieve more inclusive growth,
create more and better jobs, and reduce poverty at a much faster rate. These key structural reforms
include protecting property rights, promoting more competition, and simplifying regulations, it said.
PH To Boost Investment Promotion For Natural Gas
Manila Times by Ritchie A. Horario / October 6, 2014 10:32 pm
http://www.manilatimes.net/ph-boost-investment-promotion-natural-gas/132301/
THE government will intensify its investment promotion efforts for natural gas projects in the country as
part of a broader goal to increase the share of green energy sources in the Philippines’ energy mix.
According to the Department of Energy (DOE), among these efforts is encouraging the expanded use of
natural gas and liquefied natural gas (LNG) in different parts of the country “This is through intensified
investment promotion activities in the construction and operation of strategic natural gas infrastructure
projects such as pipelines and LNG terminals,” Energy Undersecretary Loreta Ayson said.
Ayson made the statement during the 11th Asia-Pacific Economic Cooperation (APEC) Ministerial
Meeting (EMM 11) held in Beijing, China in September where the Philippines was one of the discussants.
The meeting adopted the theme “Joining Hands Toward Sustainable Energy Development in the AsiaPacific Region.”
Provinces To Benefit From Energy Plans
Posted on October 06, 2014 09:05:00 PM
http://www.bworldonline.com/content.php?section=Economy&title=provinces-to-benefit-from-energyplans&id=95614
The Philippines will be crafting energy plans specific to each of its 17 regions, a move that will ensure
power supply security all over the country, the Department of Energy (DoE) said. Jesus T. Tamang,
director of the department’s Energy Policy and Planning Bureau, said the government is pushing for a
more specific planning up to the provincial level to maximize energy resources in specific areas.
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RP Manufacturing Sector To Sustain Solid Growth
Philippine Daily Tribune / October 07, 2014 00:00
http://www.tribune.net.ph/business/rp-manufacturing-sector-to-sustain-solid-growth
Solid growth for the Philippines’ manufacturing sector will continue, according to Moody’s Analytics, the
economic research and analysis division of Moody’s Corp. Moody’s Analytics has forecasted that the
Philippine industrial production for August will expand by 11 percent. This is prior to the August
manufacturing report that will be published by the Philippine Statistics Authority (PSA) recently.
“Philippine manufacturing continues to grow solidly. Domestic demand has recovered since last year’s
typhoon, and export demand continued to improve through the third quarter,” Moody’s Analytics said.
In an interview last week with Department of Trade and Industry-Bureau of Export Trade Promotion
director Senen Perlada, he said export demand has perked up this year.
Thus, he projected exports revenue to grow beyond the eight percent outlook of the Development Budget
Coordinating Council. Also last week, Semiconductor and Electronics Industry of the Philippines Inc.
president Dan Lachica adjusted the electronics revenue growth from five percent to a range of five to
eight percent growth mainly due to robust demand. Further, Moody’s Analaytics also noted that
investments of the private sector will continue to back the solid manufacturing growth.
WB Remains Bullish
Phlippine Daily Inquirer by Paolo G. Montelibano / 12:00 am | Tuesday, October 07, 2014
http://business.inquirer.net/179938/wb-remains-bullish-on-ph
The Philippines is expected once again to grow faster than any other major economy in Southeast Asia
this year, the World Bank said, even as it stressed the need for the government to sustain reforms that
could cement gains for the future.
In a report released at the weekend, the World Bank said it expected the Philippines to grow by 6.4
percent. The Washington-based lender stuck to its previous projection released last August. Last year,
the Philippine economy surged 7.2 percent, beating all major Southeast Asian markets.
Trade Prioritizes Bill Granting Full Ownership To Foreign Retailers
Manila Standard by Othel V. Campos | Oct. 06, 2014 at 11:01pm
http://manilastandardtoday.com/2014/10/06/trade-prioritizes-bill-granting-full-ownership-to-foreignretailers/
The Trade Department has given priority to the trade liberalization bill to further open up the economy and
introduce new opportunities and trends in the sector. A pending bill in Congress has sought to amend the
Retail Trade Liberalization Law, or Republic Act 8762, to give foreign retailers 100-percent ownership in
the sector. House Bill 4402, authored by Isabela Rep. Giorgidi Aggabao, aims to remove the capital
requirement provision of the retail trade law that prohibits foreign investors from fully owning a retail
business in the Philippines. Aggabao said the bill would address some of the perceived loopholes in the
Retail Trade Liberalization Law, especially in the capital requirement, before a foreign company can fully
own a retail establishment. “It proposes to do away with these restrictions by removing the equipment and
capitalization requirements in the Retail Trade Liberalization Law in order to provide a more attractive and
favorable investment climate in the country,” Aggabao said in a statement. He said from 2000 to 2009,
foreign direct investments in retail and wholesale sectors combined accounted for just one percent of the
total. Under the bill, foreign companies may be allowed to fully own a retail business in the country with a
paid-up capital of $2.5 million to $7.5 million. Foreigners may also fully own enterprises specializing in
high-end or luxury products with a paid-up capital of only $250,000 per store.
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Young CEO Likes Bringing Work To People
Manila Times by Kim Bernardo-Lokin / October 05, 2014 9:07 pm
http://www.manilatimes.net/young-ceo-likes-bringing-work-people/131965/
As an old popular American movie character once quipped, “Life is like a box of chocolates, you never
really know what you’re gonna get.” It may sound trivial and utterly simple, but true—at least in the case
of two high school buddies who wanted to put their entrepreneurial skills to the test and eventually
became successful in their chosen field.
As Bryce Maddock, founder and CEO of business process outsourcing (BPO) company TaskUs recounts,
he and his friend Jaspar Weir decided to go into business early in life, with varying degrees of success,
until they finally found the business that they really liked.
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WORDS OF ENCOURAGEMENT
Don't let anyone look down on you because you are young, but set an example for the believers in
speech, in conduct, in love, in faith and in purity. 1 Timothy 4:12
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