News & Events
Economic fallout from PH-China tensions ¡®limited,¡¯ says think tank
Dec 27, 2023MANILA -Any economic fallout from rising tensions between the Philippines and China would be “limited,” a London-based think tank said, adding that Manila is “well-placed” to benefit from the dramatic shift in global supply chains set off by growing rivalry between Beijing and Washington.
Tensions flared up at the disputed West Philippine Sea over the weekend after Manila and Beijing traded accusations when their vessels collided near a contested reef.
But Gareth Leather, senior Asia economist at Capital Economics, believes a deterioration of Manila-Beijing ties is unlikely to create a big economic problem because the Philippines is “not closely integrated into China’s economy.”
Read more:
https://business.inquirer.net/436852/economic-fallout-from-ph-china-tensions-limited-says-think-tank
Tensions flared up at the disputed West Philippine Sea over the weekend after Manila and Beijing traded accusations when their vessels collided near a contested reef.
But Gareth Leather, senior Asia economist at Capital Economics, believes a deterioration of Manila-Beijing ties is unlikely to create a big economic problem because the Philippines is “not closely integrated into China’s economy.”
Read more:
https://business.inquirer.net/436852/economic-fallout-from-ph-china-tensions-limited-says-think-tank
Export growth tied to investments attracted by PHL, Trade dep¡¯t says
Dec 27, 2023THE Department of Trade and Industry (DTI) said export targets to 2028 will depend greatly on the levels of investment attracted to the Philippines.
It added that such targets are set to be recalibrated this week.
“What is very critical in achieving our export targets are investment-driven exports,” DTI Export Marketing Bureau Director Bianca Pearl R. Sykimte told reporters.
Read more:
https://www.bworldonline.com/economy/2023/12/12/563273/export-growth-tied-to-investments-attracted-by-phl-trade-dept-says/
It added that such targets are set to be recalibrated this week.
“What is very critical in achieving our export targets are investment-driven exports,” DTI Export Marketing Bureau Director Bianca Pearl R. Sykimte told reporters.
Read more:
https://www.bworldonline.com/economy/2023/12/12/563273/export-growth-tied-to-investments-attracted-by-phl-trade-dept-says/
SEMI Forecasts Global IC Equipment Sales to Reach Record $124B in 2025
Dec 27, 2023Global sales of total semiconductor manufacturing equipment by original equipment manufacturers (OEMs) are forecast to reach $100 billion in 2023, a contraction of 6.1% from the industry record of $107.4 billion posted in 2022, SEMI announced at its Year-End Total Semiconductor Equipment Forecast – OEM Perspective at SEMICON Japan 2023. Semiconductor manufacturing equipment growth is expected to resume in 2024, with sales forecast to reach a new high of $124 billion in 2025, supported by both the front-end and back-end segments.
“We anticipate a temporary contraction in 2023 due to the cyclical nature of the semiconductor market,” said Ajit Manocha, SEMI President and CEO. “2024 will be a transition year. We then expect a strong rebound in 2025, driven by capacity expansion, new fab projects, and high demand for advanced technologies and solutions across the front-end and back-end segments.”
Semiconductor equipment sales by segment
After registering a record $94 billion in sales last year, the wafer fab equipment segment, which includes wafer processing, fab facilities and mask/reticle equipment, is projected to slip 3.7% to $90.6 billion in 2023. This contraction marks a significant improvement from the 18.8% decline forecast by SEMI in its Mid-Year Total Semiconductor Equipment Forecast – OEM Perspective.
Read more:
https://www.eetasia.com/semi-forecasts-global-ic-equipment-sales-to-reach-record-124b-in-2025/
“We anticipate a temporary contraction in 2023 due to the cyclical nature of the semiconductor market,” said Ajit Manocha, SEMI President and CEO. “2024 will be a transition year. We then expect a strong rebound in 2025, driven by capacity expansion, new fab projects, and high demand for advanced technologies and solutions across the front-end and back-end segments.”
Semiconductor equipment sales by segment
After registering a record $94 billion in sales last year, the wafer fab equipment segment, which includes wafer processing, fab facilities and mask/reticle equipment, is projected to slip 3.7% to $90.6 billion in 2023. This contraction marks a significant improvement from the 18.8% decline forecast by SEMI in its Mid-Year Total Semiconductor Equipment Forecast – OEM Perspective.
Read more:
https://www.eetasia.com/semi-forecasts-global-ic-equipment-sales-to-reach-record-124b-in-2025/
PPA unveils tariffs for Tier 1 ports
Dec 13, 2023The Philippine Ports Authority (PPA) has unveiled the tariff for Tier 1 ports under its terminal management policy.
Effective December 8, PPA Administrative Order (AO) No. 10-2023, issued on November 17, establishes base rates for cargo-handling and terminal operators securing contracts for Tier 1 ports under the Port Terminal Management Regulatory Framework (PTMRF).
The release aligns with the upcoming bidding for the management and operation of Iloilo Commercial Port Complex (ICPC), the first port subject to Tier 1 bidding.
Read more:
https://www.portcalls.com/ppa-unveils-tariffs-for-tier-1-ports/
Effective December 8, PPA Administrative Order (AO) No. 10-2023, issued on November 17, establishes base rates for cargo-handling and terminal operators securing contracts for Tier 1 ports under the Port Terminal Management Regulatory Framework (PTMRF).
The release aligns with the upcoming bidding for the management and operation of Iloilo Commercial Port Complex (ICPC), the first port subject to Tier 1 bidding.
Read more:
https://www.portcalls.com/ppa-unveils-tariffs-for-tier-1-ports/
SEIPI: Semiconductor industry projected to contract 9-10% this year vs 2022 amid global headwinds
Dec 13, 2023During his live interview with ANC 24/7 on November 27, 2023, SEIPI President Dan Lachica gave the forecast for the 2023 and 2024 Philippine electronics growth. In late 2022, SEIPI predicted that the industry would grow 5% the following year. However, due to unforeseen challenges such as political and economic factors, compounded by inventory corrections, electronics exports will likely contract by 10%, or equivalent to USD 45 billion to USD 46 billion, by the end of the year. Electronics exports in Q1 contracted by 15% compared to the same period in 2023. Despite the geopolitical instability, this has improved in the following months as global demand has lifted. Should this trend continue along with the final stages of inventory corrections, the electronics industry will likely have a flat growth in 2024 from 2023.
These numbers could improve after President Ferdinand Marcos bagged USD 250 million worth of investment pledges for the electronics industry as a result of his recent trip to San Francisco for the APEC Summit. During the meeting with the Semiconductor Industry Association (SIA) and the Semiconductor Equipment Manufacturers, Inc. (SEMI), DTI Sec. Alfredo Pascual invited industry leaders to consider integrated circuit (IC) design and wafer fabrication in the Philippines.
The Philippine government is improving certain aspects of its policies, such as the incentives rationalization under the CREATE Act, challenges in doing business, and the high operating costs. However, the country also needs to explore more ways to attract investors. Some of the suggestions at the meeting with SIA and SEMI is for the country to engage with global consulting groups to update the electronics industry roadmap, and to establish its own CHIPS Act in order for the country to move up the value chain.
Watch the interview here:
https://www.youtube.com/watch?v=D85VQ_B_a2U&ab_channel=ANC24%2F7
These numbers could improve after President Ferdinand Marcos bagged USD 250 million worth of investment pledges for the electronics industry as a result of his recent trip to San Francisco for the APEC Summit. During the meeting with the Semiconductor Industry Association (SIA) and the Semiconductor Equipment Manufacturers, Inc. (SEMI), DTI Sec. Alfredo Pascual invited industry leaders to consider integrated circuit (IC) design and wafer fabrication in the Philippines.
The Philippine government is improving certain aspects of its policies, such as the incentives rationalization under the CREATE Act, challenges in doing business, and the high operating costs. However, the country also needs to explore more ways to attract investors. Some of the suggestions at the meeting with SIA and SEMI is for the country to engage with global consulting groups to update the electronics industry roadmap, and to establish its own CHIPS Act in order for the country to move up the value chain.
Watch the interview here:
https://www.youtube.com/watch?v=D85VQ_B_a2U&ab_channel=ANC24%2F7
PH inflation a key concern ¨C AMRO
Dec 5, 2023THE impact of high inflation remains a key concern for the Philippine economy, but growth overall is expected to remain robust, the Asean+3 Macroeconomic Research Office (AMRO) said on Monday.
In a statement, AMRO said the country would likely grow by 5.6 percent this year, down from the 5.9 percent previously forecast and below the government's target of 6.0 to 7.0 percent.
The outlook for next year was also trimmed to 6.3 percent from 6.5 percent, also below the official 6.5- to 8.0-percent goal for 2024-2028.
Read more:
https://www.manilatimes.net/2023/11/28/business/top-business/ph-inflation-a-key-concern-amro/1921821
In a statement, AMRO said the country would likely grow by 5.6 percent this year, down from the 5.9 percent previously forecast and below the government's target of 6.0 to 7.0 percent.
The outlook for next year was also trimmed to 6.3 percent from 6.5 percent, also below the official 6.5- to 8.0-percent goal for 2024-2028.
Read more:
https://www.manilatimes.net/2023/11/28/business/top-business/ph-inflation-a-key-concern-amro/1921821
Peza-approved investments rose more than twofold from Jan to Nov
Dec 5, 2023MANILA -The value of new investments approved by the Philippine Economic Zone Authority (Peza) from January to November grew by more than twofold, reaching P140.884 billion in total as the investment promotion agency moves closer to its annual target.
Data from the Peza released Wednesday night showed it was only P13.82 billion away from its full-year 2023 target of P154.77 billion after recording a growth rate of146.95 percent for the 11-month period.
“With two more board meetings to go, we will surpass our targets for the year with flying colors,” Peza Director General Tereso Panga said during his presentation at the agency’s investors’ night in Pasay City.
Read more:
https://business.inquirer.net/433348/peza-approved-investments-rise-more-than-twofold-from-jan-to-nov
Data from the Peza released Wednesday night showed it was only P13.82 billion away from its full-year 2023 target of P154.77 billion after recording a growth rate of146.95 percent for the 11-month period.
“With two more board meetings to go, we will surpass our targets for the year with flying colors,” Peza Director General Tereso Panga said during his presentation at the agency’s investors’ night in Pasay City.
Read more:
https://business.inquirer.net/433348/peza-approved-investments-rise-more-than-twofold-from-jan-to-nov
¡®Hidden costs, complex rules deter investments¡¯
Dec 5, 2023Business leaders have called the attention of the national government to the “hidden cost” of doing business down to the community level.
Cezar Consing, Ayala Corp.’s CEO, said these costs affect businesses that have low margins, which could make certain communities less attractive to investors.
“What we find here is there are a lot of unwritten [and] hidden costs to doing business. More recently, I see them more at the local level. And if you’re a firm that is trying to do business nationwide, it’s those costs that that are so hard to quantify,” Consing said during a panel of the Pilipinas Conference 2023, a forum facilitated by think tank Stratbase.
Read more:
https://businessmirror.com.ph/2023/11/24/hidden-costs-complex-rules-deter-investments/
Cezar Consing, Ayala Corp.’s CEO, said these costs affect businesses that have low margins, which could make certain communities less attractive to investors.
“What we find here is there are a lot of unwritten [and] hidden costs to doing business. More recently, I see them more at the local level. And if you’re a firm that is trying to do business nationwide, it’s those costs that that are so hard to quantify,” Consing said during a panel of the Pilipinas Conference 2023, a forum facilitated by think tank Stratbase.
Read more:
https://businessmirror.com.ph/2023/11/24/hidden-costs-complex-rules-deter-investments/
Artificial intelligence, sustainability at forefront as industry turns attention to 2024
Nov 30, 2023As we move towards 2024, the data center industry faces intense pressure to incorporate artificial intelligence (AI) capabilities while also reducing energy consumption, costs, and greenhouse gas emissions. The proliferation of AI (as Vertiv predicted two years ago) along with the infrastructure and sustainability challenges inherent in AI-capable computing can be felt across the industry and throughout the 2024 data center trends forecast from Vertiv, a global provider of critical digital infrastructure and continuity solutions.
“AI and its downstream impact on data center densities and power demands have become the dominant storylines in our industry,” said Vertiv CEO Giordano (Gio) Albertazzi. “Finding ways to help customers both support the demand for AI and reduce energy consumption and greenhouse gas emissions is a significant challenge requiring new collaborations between data centers, chip and server manufacturers, and infrastructure providers.”
These are the trends Vertiv’s experts expect to dominate the data center ecosystem in 2024:
AI sets the terms for new builds and retrofits: Surging demand for artificial intelligence across applications is pressuring organizations to make significant changes to their operations. Legacy facilities are ill-equipped to support widespread implementation of the high-density computing required for AI, with many lacking the required infrastructure for liquid cooling. In the coming year, more and more organizations are going to realize half-measures are insufficient and opt instead for new construction – increasingly featuring prefabricated modular solutions that shorten deployment timelines – or large-scale retrofits that fundamentally alter their power and cooling infrastructure. Such significant changes present opportunities to implement more eco-friendly technologies and practices, including liquid cooling for AI servers, applied in concert with air-cooled thermal management to support the entire data center space.
Read more:
https://mb.com.ph/2023/11/24/artificial-intelligence-sustainability-at-forefront-as-industry-turns-attention-to-2024
“AI and its downstream impact on data center densities and power demands have become the dominant storylines in our industry,” said Vertiv CEO Giordano (Gio) Albertazzi. “Finding ways to help customers both support the demand for AI and reduce energy consumption and greenhouse gas emissions is a significant challenge requiring new collaborations between data centers, chip and server manufacturers, and infrastructure providers.”
These are the trends Vertiv’s experts expect to dominate the data center ecosystem in 2024:
AI sets the terms for new builds and retrofits: Surging demand for artificial intelligence across applications is pressuring organizations to make significant changes to their operations. Legacy facilities are ill-equipped to support widespread implementation of the high-density computing required for AI, with many lacking the required infrastructure for liquid cooling. In the coming year, more and more organizations are going to realize half-measures are insufficient and opt instead for new construction – increasingly featuring prefabricated modular solutions that shorten deployment timelines – or large-scale retrofits that fundamentally alter their power and cooling infrastructure. Such significant changes present opportunities to implement more eco-friendly technologies and practices, including liquid cooling for AI servers, applied in concert with air-cooled thermal management to support the entire data center space.
Read more:
https://mb.com.ph/2023/11/24/artificial-intelligence-sustainability-at-forefront-as-industry-turns-attention-to-2024
Smartphone market returns to growth
Nov 30, 2023Over the last eight quarters shipments have been:
The smartphone market turned up in October, says Counterpoint Research which is the first month it has grown y-o-y for two years. For Q3, Counterpoint is forecasting the first growth quarter for eight quarters.
October shipments grew 5% y-o-y which is the first month in 27 consecutive months since June 2021 to show y-o-y growth.
2021 Q4 371.4
2022: Q1 326.4 Q2 294.5 Q3 301.9 Q4 303.9
2023: Q1 280.2 Q2 268 with a forecast for Q3 of 299.8
Read more:
https://www.electronicsweekly.com/news/business/smsrphones-2023-11/
The smartphone market turned up in October, says Counterpoint Research which is the first month it has grown y-o-y for two years. For Q3, Counterpoint is forecasting the first growth quarter for eight quarters.
October shipments grew 5% y-o-y which is the first month in 27 consecutive months since June 2021 to show y-o-y growth.
2021 Q4 371.4
2022: Q1 326.4 Q2 294.5 Q3 301.9 Q4 303.9
2023: Q1 280.2 Q2 268 with a forecast for Q3 of 299.8
Read more:
https://www.electronicsweekly.com/news/business/smsrphones-2023-11/
onsemi Opens EV Systems Application Lab in Europe
Nov 30, 2023onsemi has opened an application test lab in Piestany, Slovakia, focused on the advancement of system solutions for battery/plug-in hybrid/electric vehicles (xEVs) and energy infrastructure (EI) power conversion systems. The state-of-the-art systems applications lab provides specialized equipment to develop and test next-generation silicon (Si) and silicon carbide (SiC) semiconductor solutions in collaboration with automotive OEMs, Tier 1s and EI providers.
The new facility consists of two high-voltage power labs that focus on systems and device level development as well as evaluation of SiC/Si traction inverters and ACDC/DCDC power converters. Laser welding facilities, mechanical clean rooms and workshops further enable fast prototyping and testing of next-generation system solutions.
The new lab will play a central role in ensuring that the development of future power products results in highly differentiated, value-add solutions tailored to customers’ specific requirements. Evaluation capabilities for the next-generation system solutions include continuous 24/7 testing; internally developed and patented software and hardware solutions to support high-voltage power cycling via space vector modulation (SVM) and sinusoidal pulse width modulation (SPWM); high-accuracy logging devices for assessing SiC and Si health and reliability; simulation of the harsh conditions faced by inverters during operation, testing liquid-cooled devices at temperatures as low as -50°C and up to 220°C; and wider range of industry-recognized software allows for the programing of FPGAs and ARM microcontrollers on site, as well as qualification testing, data analysis and 3D modeling.
Read more:
https://www.eetasia.com/onsemi-opens-ev-systems-application-lab-in-europe/
The new facility consists of two high-voltage power labs that focus on systems and device level development as well as evaluation of SiC/Si traction inverters and ACDC/DCDC power converters. Laser welding facilities, mechanical clean rooms and workshops further enable fast prototyping and testing of next-generation system solutions.
The new lab will play a central role in ensuring that the development of future power products results in highly differentiated, value-add solutions tailored to customers’ specific requirements. Evaluation capabilities for the next-generation system solutions include continuous 24/7 testing; internally developed and patented software and hardware solutions to support high-voltage power cycling via space vector modulation (SVM) and sinusoidal pulse width modulation (SPWM); high-accuracy logging devices for assessing SiC and Si health and reliability; simulation of the harsh conditions faced by inverters during operation, testing liquid-cooled devices at temperatures as low as -50°C and up to 220°C; and wider range of industry-recognized software allows for the programing of FPGAs and ARM microcontrollers on site, as well as qualification testing, data analysis and 3D modeling.
Read more:
https://www.eetasia.com/onsemi-opens-ev-systems-application-lab-in-europe/
AI reporting solutions expected to improve trade operations
Nov 22, 2023THE Department of Trade and Industry (DTI) said it is optimistic about the use of artificial intelligence (AI) reporting solutions to improve operational efficiency in trade and ease of doing business in the Philippines.
“Palantir is a promising tool for the Philippines as we leverage cutting-edge technology for operational efficiency in our cross-border trade, ease-of-doing business, and trade facilitation,” DTI Secretary Alfredo E. Pascual said in a statement.
On the sidelines of the Asia-Pacific Economic Cooperation Leaders’ Week 2023, Mr. Pascual and President Ferdinand R. Marcos, Jr. met with the executives of US software company Palantir Technologies, Inc. to discuss intelligent reporting solutions.
Read more:
https://www.bworldonline.com/corporate/2023/11/20/558489/ai-reporting-solutions-expected-to-improve-trade-operations/
“Palantir is a promising tool for the Philippines as we leverage cutting-edge technology for operational efficiency in our cross-border trade, ease-of-doing business, and trade facilitation,” DTI Secretary Alfredo E. Pascual said in a statement.
On the sidelines of the Asia-Pacific Economic Cooperation Leaders’ Week 2023, Mr. Pascual and President Ferdinand R. Marcos, Jr. met with the executives of US software company Palantir Technologies, Inc. to discuss intelligent reporting solutions.
Read more:
https://www.bworldonline.com/corporate/2023/11/20/558489/ai-reporting-solutions-expected-to-improve-trade-operations/
ECCP wants longer validity for import clearances
Nov 22, 2023THE European Chamber of Commerce of the Philippines (ECCP) proposed that the Philippines extend the validity of import clearances, which it said will provide relief to its members shipping in goods.
ECCP Vice-President Helen Grace Baisa said that as importers, European businesses are required to obtain clearances from the Bureau of Customs (BoC).
“You have to renew (some of them) on an annual basis,” Ms. Baisa said. “But in the last couple of months, we requested that the BoC simplify that or perhaps to make the validity longer, because it’s difficult.”
Read more:
https://www.bworldonline.com/economy/2023/11/19/558453/eccp-wants-longer-validity-for-import-clearances/
ECCP Vice-President Helen Grace Baisa said that as importers, European businesses are required to obtain clearances from the Bureau of Customs (BoC).
“You have to renew (some of them) on an annual basis,” Ms. Baisa said. “But in the last couple of months, we requested that the BoC simplify that or perhaps to make the validity longer, because it’s difficult.”
Read more:
https://www.bworldonline.com/economy/2023/11/19/558453/eccp-wants-longer-validity-for-import-clearances/
PH semiconductor and electronics sector will continue to be a major driver of the country¡¯s economy
Nov 10, 2023PH semiconductor and electronics sector will continue to be a major driver of the country’s economy — SEIPI
THE Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) said the country’s semiconductor and electronics sector will continue to be a significant driver of the Philippine economy and the largest contributor to the country’s manufacturing sector, an industry with an employee base of over 3 million direct and indirect workers.
Last year, the total Philippine electronics exports grew by 6.88 percent and reached an all-time high of US$ 45.09 billion. This export performance is 13-percent higher than the pre-pandemic exports of US$43.3 billion as of August 2023, with the cumulative electronics exports reaching US$29.35 billion. This was 61.40 percent of the US$47.81 billion total Philippine commodity exports, which makes the industry a consistent top commodity exporter for the country.
This news came amid the successful holding of the 18th Philippine Semiconductor and Electronics Convention and Exhibition (PSECE 2023), which welcomed around 10,000 guests at the World Trade Center Manila.
Read more:
https://frontpageph.com/ph-semiconductor-and-electronics-sector-will-continue-to-be-a-major-driver-of-the-countrys-economy-seipi/
THE Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) said the country’s semiconductor and electronics sector will continue to be a significant driver of the Philippine economy and the largest contributor to the country’s manufacturing sector, an industry with an employee base of over 3 million direct and indirect workers.
Last year, the total Philippine electronics exports grew by 6.88 percent and reached an all-time high of US$ 45.09 billion. This export performance is 13-percent higher than the pre-pandemic exports of US$43.3 billion as of August 2023, with the cumulative electronics exports reaching US$29.35 billion. This was 61.40 percent of the US$47.81 billion total Philippine commodity exports, which makes the industry a consistent top commodity exporter for the country.
This news came amid the successful holding of the 18th Philippine Semiconductor and Electronics Convention and Exhibition (PSECE 2023), which welcomed around 10,000 guests at the World Trade Center Manila.
Read more:
https://frontpageph.com/ph-semiconductor-and-electronics-sector-will-continue-to-be-a-major-driver-of-the-countrys-economy-seipi/
ACEN makes available $25 million facility for micro grids
Nov 10, 2023MANILA, Philippines — ACEN Corp., through subsidiary ACEN Renewables International Pte. Ltd. (ACRI), has made available a $25 million facility to fund micro grid projects for telecommunications towers.
ACEN, in a stock exchange filing, said its executive committee authorized the company and ACRI to enter into an agreement with Yoma Strategic Holdings and its wholly owned subsidiary, Yoma Strategic Investments Ltd. (YSIL), to restructure the latter’s outstanding loan with ACRI.
Under the restructure agreement, ACEN said YSIL would purchase the loan from ACRI, payable within a 10-year period, with a Yoma parent guarantee.
Read more:
https://www.philstar.com/business/2023/11/07/2309410/acen-makes-available-25-million-facility-micro-grids
ACEN, in a stock exchange filing, said its executive committee authorized the company and ACRI to enter into an agreement with Yoma Strategic Holdings and its wholly owned subsidiary, Yoma Strategic Investments Ltd. (YSIL), to restructure the latter’s outstanding loan with ACRI.
Under the restructure agreement, ACEN said YSIL would purchase the loan from ACRI, payable within a 10-year period, with a Yoma parent guarantee.
Read more:
https://www.philstar.com/business/2023/11/07/2309410/acen-makes-available-25-million-facility-micro-grids
DTI-EMB generates $970 million potential sale
Nov 9, 2023
MANILA, Philippines — The Export Marketing Bureau of the Department of Trade and Industry (DTI-EMB) has generated around $970 million worth of booked and potential export sales from its participation in trade promotion events in the first nine months of 2023.
Government data showed that the DTI-EMB participated or led 36 trade promotion events from January to September this year.
Additional figures from the DTI showed it generated around $92 million from recent trade promotion initiatives, particularly participation in trade shows abroad in July to September.
This includes participation in the international trade events such as the Gamescom in Germany where the country generated $7 million in booked and potential export sales; External Development Summit (XDS) in Canada ($46 million); Anuga in Germany ($10 million); Malaysia International Halal Showcase ($3 million; and the Natural Product Expo East (NPEE) in the United States of America ($26.08 million).
Apart from international events, the DTI-EMB said booked and potential export sales were also generated from local trade events such as the World Coconut Congress (P6 million); Philippine Die & Mold Machineries & Equipment Exhibition (P3 million); Philippine Semiconductor & Electronics Convention and Exhibition ($1.1 million); Manila Fame ($3.7 million for Coconut Philippines only); and the Mining Philippines International Conference and Exhibition (P17 million)
Read more:
https://www.philstar.com/business/2023/11/07/2309403/dti-emb-generates-970-million-potential-sale
Senate OKs bill creating econ strategy to level up Philippine exports
Nov 9, 2023
MANILA, Philippines — The Senate on Monday unanimously passed the “Tatak Pinoy (Proudly Filipino)” bill — a measure that creates a national economic plan to boost local industries and diversify the local products that can be exported abroad.
During its final reading, Senate Bill (SB) 2426 received 23 affirmative votes and no negative votes or abstentions.
The proposed “Tatak Pinoy” measure creates a ''Tatak Pinoy'' council and strategy to establish metrics on how government agencies can prioritize local products and make them more globally competitive.
“Tatak Pinoy started as an idea on how to make the Philippine economy stronger by empowering businesses and industries to produce better, more unique and sophisticated goods and services,” read a press release by the bill’s sponsor, Finance Committee Chairperson Sen. Sonny Angara.
Read more:
https://www.philstar.com/business/2023/11/07/2309636/senate-oks-bill-creating-econ-strategy-level-philippine-exports
Digital economy lags in PHL despite heavy internet use
Nov 9, 2023
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THE evolution of the digital economy lags in the Philippines, even though its citizens lead the world in terms of internet use, an official said at a briefing.
“What the study says is that while the internet users in the Philippines are amongst the most engaged in the world, our digital participation remains low compared to others,” according to Mary Jean T. Pacheco, assistant secretary of Digital Philippines and officer-in-charge of the Department of Trade and Industry (DTI) Consumer Protection Group.
A study conducted by Google, Temasek and Bain & Co. found that digital participation in the Philippines remains low even with internet users who are among the world’s most engaged.
It concluded however that low digital participation “signals sizable headroom for digital economic growth over the medium to long term as incomes grow.”
Read more: