• Special economic zones help lure investments, boost exports

      22 July 2019 Published also in Business Mirror AS countries attract foreign direct investment (FDI) to special economic zones (SEZs), active support to promote clusters and linkages is key to maximizing development impact, according to a United Nations report. United Nations Conference on Trade and Development’s (UNCTAD) World Investment Report 2019 pointed out that firms operating in zones have greater scope to collaborate, pool resources and share facilities especially in specialized zones. “…But multi-activity zones can extract some of the benefits of colocation. Proactive identification of opportunities, matching efforts and training programs, with firms within and outside the zone, significantly boosts the impact,” the report said. The report identified the Philippines as among the...

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    • Trade department pushes proposed EO slashing shipping costs

      22 July 2019 Published also in Business Mirror The Department of Trade and Industry (DTI) will ask President Duterte to issue an executive order (EO) that will significantly reduce logistics costs for local companies over the next few months. Trade Secretary Ramon Lopez said he has instructed Undersecretary Rowel Barba to reconvene the technical working group composed of the Department of Transportation, DTI, and Department of Finance to reconstitute the joint administrative order (JAO) resolving high shipping costs and port congestion into an EO. Lopez told reporters at the sidelines of the 2nd Logistics Services Philippines Conference and Exhibition on Monday that the proposed EO is expected to bring down the average cost of logistics as a percentage of sales of local firms from about 27...

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    • Furniture makers remain bullish on export growth

      22 July 2019 Published also in Business Mirror Furniture and home products are displayed in this Business Mirror file photo of a trade expo meant to open doors to local and international buyers of the country’s premium home, fashion, holiday, architectural and interior products. Furniture products comprise some of the country’s best exports. Local furniture manufacturers are working to bring down the rising costs of major raw materials and components as they aim to boost exports growth even amid strong domestic market. Myrna Bituin, Philippine Exporters Confederation Inc. (Philexport) trustee for the furniture sector, said they would like to meet with the Department of Environment and Natural Resources (DENR) officials so they could provide them the legal source of lumber. “We don’t want to...

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    • DTI chief to South Korea importers: Expand your shopping list for PHL products

      22 July 2019 Published also in Business Mirror Trade Secretary Ramon M. Lopez urged a 108-man delegation from the Korea Importers Association (KOIMA) to explore Philippine products that would complement the needs of the South Korean market. Lopez pushed for organic, natural food and health care, as well as design-driven products, including furniture, fixtures and garments. Likewise, he emphasized the growing opportunities in electronic parts and components, and software and game development. “We encourage you to discover other products from the Philippines that you can bring back to South Korea. The Philippine government is committed to assist your buying mission in the country. We are optimistic that this deepening relationship and trade cooperation would help our countries in...

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    • 28 PHL start-ups to participate in Hong Kong RISE 2019

      By Angie M. Brosas | Knowledge Processing Division | DTI-Export Marketing Bureau 08 July 2019 Published also in Business Mirror THE Philippine government is sending the Philippines’s first-ever delegation of Philippine start-ups to the RISE Conference 2019, the largest technology conference in Asia, from July 9 to 11 at the Hong Kong Convention and Exhibition Centre (HKCEC). The Philippine participation in the RISE Conference 2019 is one of the key projects under the Start-up Assistance Program 2019-2023 agreed upon by the Departments of Trade and Industry (DTI), Science and Technology (DOST) and Information and Communications Technology (DICT). The three government agencies are working together to promote and assist Philippine startups through the following joint initiatives: the digital...

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