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Jollibee invests $28 million in beverage tech firm
Filipino-owned Asian food conglomerate Jollibee Foods Corp. is investing $28 million for a 10 percent stake in beverage technology company Botrista Inc. to support the growth of its coffee and tea business......»»
Aboitiz Group raises 2024 capex
The Aboitiz Group is poised to expand its various business units this year, supported by a substantial increase in capital expenditures......»»
Donald Trumps $3.5bn windfall at stake in Spac deal showdow
The Financial Times, known for its in-depth coverage of global business, economics, and politics, is now offering a special subscription deal for its print edition......»»
Recto revives plan to sell NAIA assets
Finance Secretary Ralph Recto has revived plans to sell the assets of the Ninoy Aquino International Airport and turn it into a new business district to generate additional revenues for state coffers......»»
Delivery drivers urge Mayor Baste for business permit exemption
Title: Delivery Drivers Seek Exemption from Business Permit Requirement A group of delivery drivers in Davao is urging Mayor Sebastian Duterte to exempt them from the mandatory business permits. The drivers, including those from various delivery apps such as Grab and FoodPanda, are concerned about the financial burden imposed by the business permits, which range from P2,000 to P6,000. They argue that this requirement is unique to Davao City among all cities and provinces in the Philippines. Grab rider Rolando Atico emphasized the need for solidarity among all delivery drivers, regardless of the app they work for. He urged fellow drivers to support each other, as the financial impact may extend beyond just Grab and FoodPanda. Atico also requested Mayor Duterte to reconsider the requirement and reinstate the previous occupational permit, which only cost P125. The group is facing a 30-day deadline to obtain the business permits, and they are citing financial constraints as a reason for their request for an extension. Failure to comply could result in their removal from the delivery platforms, jeopardizing their livelihoods. Additionally, they are advocating for changes to Davao City's Revenue Code, proposing a model similar to Cebu City, where only an occupational permit is required. The drivers are also calling for an inquiry into the lack of transparency and unilateral actions of food delivery companies, particularly concerning rider capitalization and financial concerns. They believe that a thorough investigation will help ensure fairness and equity in their financial obligations and working relationship with the delivery companies. Maribel Paguican, the Business Bureau officer-in-charge, stated that non-certified delivery riders categorized as service contractors must obtain a business permit. She mentioned two permits for occupational and business activities, with a discounted structure for delivery riders. However, concerns have been raised about increased taxes, potentially ranging from P3,000 to P6,000, along with an additional tax on top of the declared income of P1,400. The delivery drivers' plea for exemption from the business permit requirement reflects their concerns about the financial impact and the potential threat to their livelihoods. Their call for solidarity and support from fellow drivers highlights the urgency of the situation. This story sheds light on the challenges faced by delivery drivers in Davao and the implications of the business permit requirement on their financial well-being. It also underscores their efforts to seek fairness and equity in their working relationship with the authorities and delivery companies......»»
Creation of more Bangsamoro economic zones welcomed
Business groups and local executives support the planned setting up by the Bangsamoro government of additional economic zones in the autonomous region and in its 63 barangays in Cotabato province in Region 12......»»
Japan Invests Over 700 Billion, Creating 40,000 Jobs
Nine new business agreements with Japan amounting to P771.6 billion worth of total investment commitments is said to create over 40,000 jobs in the country soon. President Ferdinand “Bongbong” Marcos welcomed the signing of these agreements in his recent Tokyo trip in Tokyo, Japan. “Today, we received an additional PHP 14.5 billion in pledges, bringing […].....»»
UnionBank investing P1.8 billion in digital banking arm
Union Bank of the Philippines is infusing an additional P1.8-billion capital to support the ongoing business operations and sustain the expansion of UnionDigital Bank Inc......»»
DA kicks off young farmers challenge
City of San Fernando, Pampanga — The Department of Agriculture in Central Luzon recently conducted the Young Farmers Challenge Start-Up Open Category and the Upscale Regional Judging last week at the DA Conference Room here. The program provided 23 enterprise finalists for the YFC Start-Up to showcase their potentials in their business proposals. In this category, seven enterprises were feted with the Start-Up Regional Awardees who received an additional P150,000 as Financial Grant Assistance. These finalists include the Kuwaktutubo by John Arex Ocampo from Zambales; AJ’s Eco-Coal by Jeavee Mea Ann Lorenzo and Archibald Mato of Tarlac; Kring’s Tanglad Jam by Kristine Louis Custodio from Zambales; Lactuca by Micca Curitana and Rogelio Picart Jr. of Aurora; Sirjuan Agriventure of John Carlo Abedoza from Nueva Ecija; Crayvings by Grace Angiela Sta. Ines of Nueva Ecija; and AJA’s Quail Egsstra-ordinary by Allen James Anthony Tiong, Alelie Joy Alegado, Kelvin George Arizala, Norman Padua and Jomari Ligsay. The YFC Upscale Category was conducted afterwards wherein the category aims to provide the chosen enterprises a chance to develop, increase and lift the agri-fishery enterprises by providing additional Financial Grant Assistance. Six finalists participated in the Upscale Category wherein three were declared winners of the Upscale Regional Awardees who received P300,00 as Financial Grant Assistance. The winners of the category are Ka-Gatas Dairy Farm of Allen Paul Santos at Mikee Anne Santos from Tarlac, Innov-smarter Agricultural Services by John Carlo Landayan from Nueva Ecija, and the Top 1 of the category REACH by Richard Sarmiento and Ella Marie Pangilinan from Pampanga. REACH will represent the region for the National Level Upscale Competition. The post DA kicks off young farmers challenge appeared first on Daily Tribune......»»
Rice farmers happy with PBBM’s support
Filipino rice farmers expressed their gratitude Thursday for the assistance they got from President Ferdinand Marcos Jr. who also headed the Department of Agriculture. In a statement, Fernando Salvador, who represents rice farmers of San Jose City, Nueva Ecija, said they are not only enjoying better prices from their recent harvests but are also happy about it. He thanked President Marcos for his support to them through the DA seedlings and fertilizers assistance program, especially during this wet season. Salvador said President Marcos' assurance that he will make agricultural productivity a “top priority” is a sign that the country is not any more focused on importing the basic Filipino staple. He said over a hundred sacks of rice were harvested in every hectare of rice farmland compared to previous years. The Department of Agriculture, on the other hand, reported that around 532,980 metric tons of palay were harvested this October in Nueva Ecija alone, and an expected 153,000 more metric tons for the November harvest. Salvador added that they were also grateful when President Marcos announced that he had allocated P4.73 billion for the agricultural sector's mechanization and modernization during the 70th Founding Anniversary of the Federation of Free Farmers (FFF). This was aside from the President's promise that the government would work to strengthen farmers' organizations and cooperatives for additional opportunities for their members. Marcos also encouraged small farmers to be members of these organizations and cooperatives as it served as a fundamental tool of agricultural development to attain food security. He said farmers as members of cooperatives have high participation in supporting cooperatives to make products or business activities. Marcos also said in the FFF event that he would initiate social reform and rural development which were the priority of his late father, former president Ferdinand E. Marcos Sr. The post Rice farmers happy with PBBM’s support appeared first on Daily Tribune......»»
Globe-backed startup offers MSMEs loans up to P100 million
A startup backed by Globe Telecom Inc. is extending up to P100 million in loans to micro, small and medium enterprises (MSMEs) that require additional capital to expand their business......»»
Iloilo appeals to break stalemate in port dev’t, privatization
The Iloilo government is asking the Department of Transportation or DoTr, the mother agency of the Philippine Ports Authority or PPA, to help hasten the privatization and overhaul of the Iloilo Commercial Port Complex, which could catalyze economic growth in the city. Speaking to reporters on Friday, Iloilo City Mayor Jerry P. Treñas said a much-needed Public-Private Partnership will facilitate a more efficient trade and faster supply chain movement across the city. "Together with the business community, we have been pushing for the development of our ports — both airport and seaports. There was an offer from the ICTSI (International Container Terminal Services, Inc.) for our port but it is not moving," Treñas told reporters. The Iloilo City Local Development Council Executive Committee through Resolution No. 1 Series of 2021 had already endorsed the unsolicited proposal of the ICTSI to the National Economic Development Authority for review and approval. Yet, the submission has not progressed into a favorable action or result to date. Treñas, who sits as Chairman of the Infrastructure Development Committee of the Regional Development Council, had requested PPA General Manager Jay Daniel R. Santiago to prioritize fund allocation for the city's port development and expansion. In his letter dated 5 September 2023, Treñas cited that Western Visayas recorded the highest economic growth rate among all regions at 9.3 percent, which exceeded the national average of 7.2 percent. However, Treñas lamented that the Iloilo International Port in Barangay Loboc, Lapuz, Iloilo City, has not seen any additional improvements since its establishment in the 70s. Thus, the Iloilo City government reiterated that access to domestic and international transportation and logistics is of utmost importance to boost the sectors of trade, commerce, and tourism. "If ICTSI comes in, we will be able to accommodate more international and domestic vessels and we will have a better RORO (roll-on, roll-off) port. It will also reduce berthing costs," the city mayor said. "I think they presented a proposal to our local economic development office, they proposed to convert it into a container port to improve berthing facilities and add equipment, and I think they want to develop the RORO port. At the moment, we do not have a RORO terminal," he added. Operating 33 terminals in 20 countries across six continents, ICTSI is a global developer, manager, and operator of container terminals in the 50,000 to 3.5 million twenty-foot equivalent units per year range. The post Iloilo appeals to break stalemate in port dev’t, privatization appeared first on Daily Tribune......»»
The importance of cyber security
Cyberattacks are on the rise! In the past, we associated this terrifying incident with online banks and payment platforms. However, even government websites, not known as financial institutions, from which money may be stolen, or unauthorized payments are also targets. Last Sunday, 15 October, the website of the House of Representatives was vandalized before noon by a group calling itself “3MUSKETEERZ.” A face with a mocking meme with the phrases “You’ve been hacked” and “Have a nice day” appeared on the website. Below the face was the message, “Happy April Fullz Kahit October palang (even if it’s still)! Fix your website.” A few minutes later, the website went down and became inaccessible. Shortly after, the House of Representatives issued a statement assuring the public that the House had already taken action and coordinated with the government agencies concerned to deal with the matter. “While we work to restore the website fully, we ask for patience and understanding. We are committed to ensure the security and integrity of our digital platforms, and we will implement additional measures to prevent such incidents in the future,” the statement said. Relatedly, also recall that on 22 September, a system of the Philippine Health Insurance Corporation was similarly attacked, preventing access for a week. Reports stated the data breach affected employees’ workstations, application servers, and users’ data, including names, addresses, dates of birth, gender, phone numbers and PhilHealth identification numbers. On 31 August, the Department of Science and Technology’s OneExpert portal was also subjected to a cyberattack. In a statement on 13 October, the DoST assured the general public that the virtual assault compromised no personal data. In all the above instances, whether personal data or sensitive information were stolen, it causes alarm to us Filipinos. The call to government agencies and ordinary Filipinos to be vigilant and careful with our online information and accounts has become louder than ever. The same holds true for institutions and businesses, which, by the nature of their activities, are entrusted with and tasked to safeguard large amounts of personal information and are responsible for keeping this trust by whatever means appropriate. I now want to stress the importance of cyber security not just for individuals and juridical entities but for the entire nation holistically. Protection against cyber threats: In today’s digital age, cyber threats like hacking, data breaches, and identity theft are becoming more prevalent. Implementing robust cyber security measures helps protect us from these threats. Safeguarding sensitive information: Cyber security also helps protect sensitive information such as personal data, financial details and intellectual property. This is crucial for maintaining privacy and preventing unauthorized access or misuse of information. Maintaining trust, reputation, and credibility: Cyber security is essential for building trust with customers, clients, and partners. Organizations can maintain a positive reputation and avoid potential legal and financial consequences by committing to protecting their data and privacy. Compliance with regulations: Many industries have specific regulations and standards regarding data protection and privacy. Compliance with these regulations is not only important for avoiding penalties but also for ensuring ethical practices and responsible handling of data. Business continuity: Cyber attacks can disrupt operations, leading to financial losses, reputational damage, and even business closure. Implementing effective cyber security measures helps minimize these risks and ensures business continuity. Finally, I want to end by being deliberately redundant in stating that cyber security is crucial for protecting individuals, organizations, and society from the growing threat landscape in the digital world. Cyber attackers are on the prowl; we must be alert to the possibility of attack, ready even now to implement measures to effectively counter-act or prevent the same. The post The importance of cyber security appeared first on Daily Tribune......»»
NEA wants Primelectric deal to aid consumers
The National Electrification Administration or NEA has asked Primelectric Holdings, Inc., a unit of MORE Electric and Power Corp., to ensure that its joint venture agreement or JVA with Central Negros Electric Cooperative, Inc. or CENECO will uphold consumers' interest. "I hope we can address the concerns of the opposition. We must also consider them. Regarding the participation of the Member-Consumer-Owners, it has been concluded during the plebiscite so we will put this into motion with all the required legal objectivity,” NEA Administrator Antonio Almeda said on Monday. Last week, Almeda met with Primelectric and CENECO officials to address the opposition concerns to improve the JVA of the involved parties. Primelectric and CENECO presented their joint venture to the NEA board to discuss service improvements for consumers. “This venture seeks to magnify the electric industry in Central Negros by not just streamlining the internal and external operations of concerned parties but also rehabilitating and modernizing the distribution system, which is deemed crucial in providing quality service to our consumers,” Primelectric President Roel Castro said during the hearing. For his part, CENECO acting general manager Atty. Arnel Lapore also supported the critical role the JVA plays in the area, adding that it “strongly” supports the NEA’s objective to achieve efficient service for all consumers. “I’m one with NEA in facilitating the service for the benefit of our consumers. That’s why I strongly support and cooperate through this JVA to ensure we deliver quality operations internally and externally. Rest assured that we duly consider all the suggestions raised by Admin Almeda during the hearing,” Lapore said. Primelectric has already conveyed that it is ready to pour in investments to modernize the system of CENECO. Castro highlighted that the target P2.1 billion initial investment in the capex of its operations will bankroll cutting-edge and top-of-the-line systems for a better consumer experience. Castro also emphasized that the JVA will help achieve the 100 percent total electrification target in the franchise area by 2028 “in alignment” with the present administration’s agenda of achieving sustainable and inclusive economic growth. “We need to rehabilitate the system because if you don’t put in the additional P2 billion investment or even bigger, you will be inheriting a distribution system that is just the same as now that is inefficient. That’s why we have to put (the investment) in P2.1 billion to start rehabilitating and improving the system,” he said. Primelectric and CENECO signed the JVA last 3 June purposely to improve the electricity services in Central Negros. The proposal received support from local leaders, the business sector, and consumer groups. No less than Bacolod City Mayor Albee Benitez described the partnership as “a White Knight that would save our consumers from the looming disaster.” The post NEA wants Primelectric deal to aid consumers appeared first on Daily Tribune......»»
Unemployed, underemployed Filipinos down in August — PSA
Employers in the Philippines hired more Filipinos while fewer people looked for additional working hours, data from the Philippine Statistics Authority showed on Friday. In a press briefing, the PSA said the number of jobless Filipinos reached 2.21 million in August, a decline from 2.27 million unemployed Filipinos last July. The data translated to an unemployment rate of 4.4 percent in August from 4.8 percent last July. PSA added that 5.63 million Filipinos were looking for more hours to increase their income in August, lower than the 7.10 million underemployed persons in July. The underemployment rate fell from 14.7 percent in August 2022 and 15.9 percent in July to 11.7 percent. Underemployed individuals are those who have indicated a wish for more work hours in their current job, a desire to take on a second job, or an interest in finding a new job that offers longer working hours. The rise in the number of people with and without jobs can be attributed to the month-on-month increase in labor force participation. In July, the labor force participation rate increased from 46.90 million to 64.7 percent, up from 60.1 percent in the previous month. "Many people entered the labor force, so unemployment decreased," National Statistician Dennis Claire Mapa said in a press briefing. PSA data mentioned that the majority of employed individuals, 62.6 percent, are wage and salary workers. On the other hand, self-employed individuals make up 27.3 percent, and unpaid family workers constitute 8.0 percent of the employed population. The state-run statistics bureau attributed the surge in employment to specific sectors: fishing and aquaculture with 572,000 new jobs, construction with 534,000, agriculture and forestry with 378,000, human health and social work activities with 153,000, and administrative and support service activities with 143,000. In a separate statement, NEDA Secretary Arsenio Balisacan said the government will continue to ramp up efforts to boost economic growth and quality job creation amid economic headwinds. "To raise the quality of employment further, the Marcos administration is committed to exerting all efforts to shape an attractive business climate for investors with the resources needed to bring in high-quality and high-paying jobs," Balisacan said. The post Unemployed, underemployed Filipinos down in August — PSA appeared first on Daily Tribune......»»
Stevie’s specialties
For Steve “Stevie” Villacin, it took only one specialty dish — Hainanese chicken — to get him started on his home-based food business in 2009. He had just graduated from the International School for Culinary Arts and Hotel Management, and his cousin Claudette Vitug was responsible for “pushing him to start a home-based food business by accident.” Knowing that Stevie cooked a mean Hainanese chicken at home, she requested him to make her a set to gift their friend Ingrid Chua, the BagHag, for Christmas. Steve obliged, whipping up a whole Hainanese chicken and packaging this with its traditional sauces (ginger sauce, sweet soy sauce, and chili sauce) and matching Hainanese chicken rice. Claudette sent this to Ingrid, who loved it so much that she blogged about it the following day. Other bloggers and influencers as well as journalists picked up from there and wrote about Stevie’s special Hainanese chicken. Word got around, orders doubled, tripled, and, lo and behold, before he knew it, he had a home-based food business to run. The business happened by accident, yes, but the orders did not come by accident. They were conscious choices because Stevie’s product was—and continues to be—really good. His signature dish, Hainanese Chicken Set, is a whole chicken, about 1.5 to 1.7 kilograms by weight, comes with five cups of chicken rice (with option to order additional rice at P65 per cup), and a complete set of sauces (topping sauce, ginger sauce, sweet soy sauce, and chili sauce), for a reasonable P1,500 per set. Stevie has also developed a variation of rice called Olive Rice. It is basically traditional Hainanese chicken rice sautéed in extra virgin olive oil with chopped black olives. Should customers prefer Olive Rice over traditional chicken rice for their Hainanese Chicken Set, the price is adjusted by only P100. The set thus costs P1,600, with extra cups of Olive Rice priced at P75 per cup. [caption id="attachment_192637" align="aligncenter" width="525"] Hainanese chicken.[/caption] Through the years, Stevie has also developed other platter offerings. A number of these have become top-sellers as well, such as Fried Shrimp Lumpia with Bacon and Served with Sweet Chili Sauce (shrimp with bacon rolled around it, then wrapped in lumpia wrapper and fried); Asian Beef Tenderloin Salpicao (Australian or New Zealand beef tenderloin marinated with Asian seasonings then seared and topped with fried garlic, served with buttered vegetables and mashed potato); and Garlic Barbeque Pork Ribs (two slabs of tender pork ribs with garlic barbecue sauce). Stevie’s menu has become so wide that it covers all categories now — salads, appetizers, entrées and pasta. Salad choices are Chicken Oriental Salad with Hoisin Dressing Black Pepper Crusted Tuna Salad with Asian Dressing, and Grilled Pork Belly Salad with Tamarind Dressing. As for the appetizers, there’s Fresh Vietnamese Spring Rolls with Peanut Sauce; Seafood, Chorizo and Chicken Paella, Callos, Osso Bucco Served with Pasta, and Baked Iberian Chicken. For pasta, which is a one-dish meal often ordered on its own by customers, Stevie has four choices — Baked Rigatoni with Italian Sausage and Eggplant, Tuyo Pasta, Baked Chicken a la King Pasta, and Garlic Noodles. The latter (spaghetti sautéed in garlic butter and extra virgin olive oil with Asian seasonings and topped with Parmesan cheese, browned garlic and chopped scallions) has also become a signature dish often ordered to go with Baked Prawns. So, it could stand on its own, Stevie recently added a variation of garlic noodles to the menu. It is called Garlic Crab Noodles, and has lots of crabmeat on top of the garlic noodles. More recent additions to the menu include chicken relleno and chicken asparagus sandwich. Orders may be placed via 8896-8940 or 0906-5084155. Pick-up is the only option, as payment the day before is needed. The post Stevie’s specialties appeared first on Daily Tribune......»»
Times Education picks Pacquiao as ambassador
STRENGTHENING their presence in Southeast Asia and appealing directly to prospective students in the Philippines, Education and Training provider Times Education Group Australia announced its partnership with Filipino boxing legend Manny Pacquiao as their brand ambassador and investor, to collaborate on several education-related projects in both the Philippines and Australia. The plan is to expand Times Education – an Australia-based education and training provider – worldwide in 2024, with the goal of making it a premier institution for education. In addition to a variety of courses, including English, Hospitality, Accounting, Information Technology, Cookery, Travel and Tourism, Real Estate, Digital Marketing, Human Resource Management, Social Media Marketing, Business and Management, Leadership and Management, Marketing and Communication, Aged Care and Community Services, Early Childhood Education and Care, and Higher Education Diploma and Graduate Diploma, Times Education will grow their curriculum to include Sport Coaching and Exercise Management with the creation a new Sports Institute. Additional expansion into residential aged care and employment recruitment services is slated. In a statement welcoming the eight-division world champion to the team, Times Education founder and CEO Charles Shiao explained, through their partnership with Manny Pacquiao and planned collaborations with Philippines colleges, lifelong scholarships will be provided to aspiring students. "Manny is a proven winner in life, and we couldn't be more enthusiastic to have him onboard as an investor and brand ambassador. His ring exploits continue to inspire the youth to keep persevering in life, and his passion for education, as proven by his efforts to pursue his studies, is perfectly in line with our ideals," Shiao said. Pacquiao — himself a holder of a master's degree in management Major in Public Education — emphasized the importance of education, even as he encouraged prospective investors to join him in helping Times Education in its expansion efforts. “Education is not merely a process of acquiring knowledge; it is a catalyst for personal growth, social progress, and economic development. It empowers individuals, enhances critical thinking, and equips us to face the challenges of an ever-evolving world,” the former eight-division world champion said. “My journey from humble beginnings to global stardom is a testament to the transformative power of education. Despite facing numerous challenges, my unwavering determination and commitment to self-improvement led me to become not only a sporting icon but also a respected leader and advocate for education. My story inspires countless individuals around the world, proving that education is the great equalizer that transcends social and economic barriers,” he added. One of Australia’s largest institutions offering vocational education and training, and higher learning among others, Times Education has delivered training to over 35,000 students across seven colleges and 12 campuses in key Australian cities. The company has set its sights on a global expansion, and Pacquiao is keen on helping them achieve the goal. “The partnership between Times Education Group Australia and Manny Pacquiao symbolizes the transformative power of education,” Pacquiao said. The post Times Education picks Pacquiao as ambassador appeared first on Daily Tribune......»»
Fruitas acquires Foodpanda tools
Backed by a newly-acquired top-notch technology, listed food and beverage kiosk operator Fruitas Holdings Inc., through its wholly-owned subsidiary Fly Kitchen Inc., is growing its cloud kitchen business to better serve the growing customer demand. In a stock exchange report on Tuesday, Fruitas Holdings disclosed that it bought out culinary equipment and technology formerly utilized by Foodpanda to support the planned expansion. “We are pleased to announce this tactical purchase of top-quality kitchen equipment from Foodpanda. This decision reflects our dedication to providing outstanding gastronomic experiences to our patrons,” Fruitas Holdings president and chief executive officer Lester Yu said. Foodpanda is a global food delivery service provider in 40 countries across five continents. Cloud only for delivery A cloud kitchen prepares food exclusively for delivery or takeout, without any dine-in customers. It is a cost-effective way for restaurants to expand their existing business or launch a new virtual brand. According to Fruitas, the acquisition will particularly enable Fly Kitchen’s menu expansion with new methods, processes, and flavors. By using cutting-edge equipment, the company can streamline its operations — from food preparation to presentation, resulting in even higher service and product quality. The advanced kitchen equipment will likewise give Fly Kitchen the freedom to experiment with new recipes, which will excite the taste buds of its loyal consumers and new customers. The kitchen equipment will open the door for the company to collaborate with and prepare third-party brands that would fit well with its present cloud kitchen operations. Starting with a single stall opened in 2002, the Fruitas group now operates over 25 brands in its portfolio, including food concepts such as Fruitas Fresh from Babot’s Farm, Buko Loco, Buko ni Fruitas, De Original Jamaican Pattie, Johnn Lemon, and Juice Avenue, among others. The group also recently launched Fruitas dairy-based ice cream and the Soy & Bean soy product line. The post Fruitas acquires Foodpanda tools appeared first on Daily Tribune......»»
DTI pushes for AI research hub; P300-M for consumer protection programs
The Department of Trade and Industry is pushing for the establishment of the Center for Artificial Intelligence Research, however, it remains "unfunded” under the proposed 2024 National Expenditures Program. During the hearing of Senate Committee on Finance’s Subcommittee “M” on DTI’s proposed P7.909 billion budget for the fiscal year 2024 on Tuesday, Trade Secretary Alfredo Pascual emphasized the idea would help the country's Micro, Small, and Medium Enterprises to effectively adopt “artificial intelligence in their business operations. “This is a research [and development] center. The model is the AStar of Singapore…It’s industry-oriented, it's not academic research. It’s a way to help MSMEs to adopt AI in their operations,” Pascual said, citing that large companies in the country “can take of themselves” to implement AI solutions in their businesses. “But this SMES would need assistance and this is the center that could do that plus the continuing research in the impact of AI on employment which jobs will be affected,” he said. The issue of AI ethics will also be addressed through CAIR, he added. “We are working this out, actually with some business groups that can donate…In fact, we have been offered already a place,” the DTI chief said. Pascual explained that the CAIR has been included in the DTI’s plan for revitalizing Philippine industries under the Philippine Development Plan. Meanwhile, DTI’s Competitiveness and Innovation Group, Undersecretary Rafaelita Aldaba said the agency has been requesting funds, amounting to P200 million, for the CAIR since two years ago. Aldana did not give further details as to why the Department of Budget and Management disapproved their requests. Stressing the importance of the AI program, Senate President Pro Tempore Loren Legarda lamented there must be a reason why the CAIR did not get a budget. Legarda asked Aldaba to further provide details on CAIR as the latter noted the DTI doesn’t have enough space in their existing building, “It’s a physical center and its goal is for us to become an AI center of excellence in the region in the near future. It’s going to house our data scientists, researchers, engineers who will be conducting AI [research and development] to support the needs of the industries, including MSMEs, start-ups, large companies, and multi-nationals,” Aldaba said. The CAIR is also eyed to provide capacity building and training and workshops on AI, she added “so that new products and services could come out from the idea. However, Legarda said DTI should not wait for the physical CAIR to be set up before it starts building the capacity of Filipinos concerning AI, adding that developing a physical infrastructure may take at least two years. “And knowing government, that’s so slow. That means all the resources on AI will not ensue until the structure is done,” Legarda lamented. “What I’m saying is that while the infrastructure is not yet set up, we should continue with AI capacity buildings and research.” Senator Mark Villar, who presided over the budget hearing, backed Legarda’s position, noting that DTI should ensure that AI benefits the country. “Other countries are very concerned also about what AI might mean for the labor industry and what the implications are. I think it’s important that we learn how we can leverage it to help our industries,” he said. On the other hand, Pascual appealed to the Senate for an additional P300 million in funding to strengthen the DTI’s consumer protection programs. “We want to reorganize our consumer protection activity by centralizing it because you cannot expect a junior person running after hoarders or profiteers in an area where there are a lot of people of influence that are operating in the region,” he said. “So the plan that we have done, this planning, after the budget submission, is to centralize the consumer protection activity in the head office and have a quick response task force,” said Pascual. “That would require a funding of P300 million to strengthen our consumer protection activities," he added. Villar supported the DTI’s plan citing its significance amid the ongoing inflation being experienced in the country “It is very relevant that the DTI takes a stronger role in monitoring these hoarders and manipulators,” he said. DTI Assistant Secretary Jean Pacheco said the P300 million would fund an inter-DTI strike team to increase their enforcement activities, consumer education and advocacy, complaints handling, and procurement of equipment for the certification and testing of vapes, among others. At least P130 million of the total request will be utilized for the procurement of equipment for DTI’s certification and testing of vape products, which is in line with their implementation of the law regulating e-cigarettes. The post DTI pushes for AI research hub; P300-M for consumer protection programs appeared first on Daily Tribune......»»
EO suspending ‘pass-through fees’ seen to lower prices this Christmas
The issuance of Executive Order 41 will significantly reduce the prices of consumer goods as the Christmas season approaches, an official of the Department of Trade and Industry said Saturday. In a news forum on Saturday, DTI Undersecretary for Communication Kim Lokin said the order will promote ease of doing business. “So that, at the end of the day, when the product reaches them, goods and even services mababa po, kahit papaano ay kaya pa po nila – affordable and kung hindi man po bumaba ay hindi naman po tataas,” Lokin said, thanking the President for issuing EO 41. President Ferdinand R. Marcos Jr. issued EO 41 on 25 September, ordering local government units to suspend the collection of “pass-through fees.” Malacañang said the order will “ensure the efficient movement of goods across regions”— aligned with the strategies to revitalize local industries under the Philippine Development Plan 2023-2028. Rina Papa, vice president of the Alliance of Concerned Truck Owners and Organizations, lauded the issuance of the order, saying it would ease the burden on the truck industry going through the “pass-through fees” system. Papa cited the City of Manila’s imposition of road user taxes, which would cost around P2,000 to 2,500 per truck each month. “Multiplying that by 12 months for every truck, it will be almost P30,000 additional logistics cost to truckers. It’s a burden to truckers because the two major international ports are located in Manila,” she said. Papa noted that the enforcement of the President’s order would be a huge relief to the truck owners. “We expect that through the EO, LGUs would be able to take into consideration the general impact of imposing taxes, levies and permits,” she added. The post EO suspending ‘pass-through fees’ seen to lower prices this Christmas appeared first on Daily Tribune......»»