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PBBM highlights Phl’s potential as manufacturing hub at Milken Institute Asia Summit
President Ferdinand Marcos Jr. touted the Philippines' thriving digital economy and potential as a manufacturing hub as he called on foreign investors to take advantage of the opportunities presented by the country in his opening remarks at the 10th Asia Summit of the Milken Institute in Singapore. Marcos said that the Philippines is one of the world's highest users of the internet and social media, with a growing number of customers using these platforms to discover and buy products and services. "This has led to the rapid growth of our e-commerce sector, which is now one of the fastest-growing trends in the Philippines," Marcos said. He also pointed to the country's educated and English-speaking workforce as a major strength, noting that the Philippines is the number one country of choice for the delivery of customer support and healthcare services. "We are also a major player in the global outsourcing industry, and we are committed to continuously investing in our human capital to ensure that our people remain globally competitive," Marcos said. In addition to its digital economy, Marcos also highlighted the Philippines' potential as a manufacturing hub. He noted that the country has a strong manufacturing sector, with a focus on electronics, garments, and footwear. "We are also investing in infrastructure to improve our connectivity and logistics, which will make it easier for businesses to operate in the Philippines," Marcos said. He invited foreign investors to take advantage of the opportunities presented by the Philippines' digital economy and manufacturing sector. Marcos also cited the country's strong economic fundamentals, strategic location, and diverse investment opportunities during the 10th Asia Summit. The Chief Executive said the Philippines is "open for business" and is committed to providing a conducive environment for foreign investors. "The Philippines is a resilient nation with a long history of overcoming challenges," Marcos said. "We are a people who are always looking forward, and we are confident that the future is bright for our country." Marcos said that the Philippines has "demonstrated remarkable resilience" in the face of global economic volatility. He pointed to the country's GDP growth of 7.6 percent in 2022, the fastest growth rate since 1976. He also said that the economy is expected to grow by 6 percent in 2023, citing data from the World Bank and the International Monetary Fund. Marcos attributed the Philippines' economic success to a number of factors, including prudent fiscal management, monetary policy, and strong domestic demand. The President also mentioned the recent regulatory reforms that have been passed, which are expected to encourage private investment. He also pointed to the country's strategic location in Southeast Asia and its membership in the Regional Comprehensive Economic Partnership (RCEP), the world's largest free trade agreement. "The Philippines is a gateway to the dynamic markets of Southeast Asia," Marcos said. "We are also a member of the RCEP, which gives us access to a market of over 2.2 billion people." Marcos then invited investors to consider the Philippines as a destination for investment. He highlighted the country's strategic location, membership in regional trade agreements, and the large market as some of the reasons why investors should choose the Philippines. The post PBBM highlights Phl’s potential as manufacturing hub at Milken Institute Asia Summit appeared first on Daily Tribune......»»
Multiple developments rise in Mandaue City
Mandaue City continues to look to the future with multiple developments that will usher the city towards progress. [caption id="attachment_178460" align="aligncenter" width="1280"] LUXURY living in the center of Mandaue City.[/caption] Mantawi Residences Mantawi Residences is RLC Residences’ first premium development in Cebu. It is strategically located in Ouano Avenue and promises spacious and bright home-upgraded units, ranging from one to three bedrooms and penthouse suites. These units all come with loggia — an extended living space where soon-to-be homeowners can comfortably relax while appreciating the Cebu City skyline. Hyper-sized indoor and outdoor facilities are spread out in its 1.3 hectares of amenity area. These include beach-inspired swimming pools, landscaped areas, jogging trails, a pet park, a spa and indoor amenities including a game room, a work lounge and a private theater. Its ground floor will also house global brands and upscale dining areas. Metro Cebu Expressway The 56.9-km long Metro Cebu Expressway is expected to solve the traffic congestion within Metro Cebu. The South to North expressway is divided into three segments including the Minglanilla — Cebu City — Mandaue/Consolacion Bdry portion; Mandaue/Consolacion Bdry. to Danao City section; and Naga City — Minglanilla component. Once completed, MCE aims to ease the movement of people and commerce in Metro Cebu’s Central Business Districts and economic/export and tourism zones. Cebu Bus Rapid Transit Bus Rapid Transit, a bus service with dedicated routes traversing a 13.8-kilometer road, aims to decongest Cebu roads. Buses will run on a priority lane — one in each opposite direction — while the rest will be opened for mixed-use traffic. New Cebu International Container Port The New Cebu International Container Port will feature a berthing facility that can accommodate two 2,020-ft. equivalent unit vessels. Built on a reclaimed area in Consolacion, NCIP is seen to aid in flourishing local business with competitive prices and increase economic opportunities for residents once entirely constructed and operational. It is expected to ease the increasing volumes the Cebu International Port handles and enhance Visayas Region’s flow of goods and services. Premiere Waterfront Development by Global City Mandaue Corporation The Global City Mandaue Corporation is developing a 101-hectare premier waterfront project along the Mactan Channel. It will feature office spaces, malls, luxury retail options, hotels, resorts and restaurants. Cultural spaces like galleries, museums and libraries will also rise. Pocket parks, pathways and playgrounds will complete the vibrant lifestyle experience. The project had its groundbreaking in May of 2022. The post Multiple developments rise in Mandaue City appeared first on Daily Tribune......»»
DTI wants stronger China-Phl alliance
Trade Secretary Alfredo Pascual wants tighter trade cooperation between China and the Philippines particularly in terms of investments. During the China (Zhangzhou)-Philippines Economic and Trade Cooperation and Exchange Briefing on Thursday at Century Park Hotel in Manila, Pascual underscored China’s role as its largest trading partner. China is the country’s largest source of imports and the third-largest export destination in 2022. The visit of President Ferdinand “Bongbong” Marcos Jr. to Beijing brought home investment leads amounting to $22.8 billion. The event included presentations from different bureaus and projects and a signing ceremony organized by the Embassy of the People’s Republic of China in the Republic of the Philippines and Zhangzhou Municipal People’s government. Investments welcome “We welcome investments from Chinese enterprises to the Philippines further to enhance the bilateral relationship between our two countries. Such investments can take advantage of the development momentum brought about by the Regional Comprehensive Economic Partnership or RCEP agreement to which the Philippines and China are signatories along with 13 other countries in the East and Southeast Asian Region,” according to the trade chief. Further, Pascual cited the country’s improving business climate given its strategic geographical location. It recently enacted reforms that will provide simplified procedures, enhance transparency, and promote investor-friendly policies. He also cited a range of sectors that would be potential investment destinations such as petrochemicals, agriculture, e-commerce, logistics, medical/health industries, green industries, tourism and education, among others. As the Department of Trade and Industry formally launched on Thursday Executive Order 18 of President Marcos Jr., seen to create green lanes for strategic investments that is expected to enhance the ease of doing business. These green lanes are vital to address the barriers across multiple regulatory agencies which usually hampers the realization of foreign direct investments in the country. “The China-Philippines investment relations of the past five years have laid the foundation for a prosperous future. Come and be part of our thriving economy, vibrant culture, and bright future. The stage is set, the opportunities are vast, and the time is now. Let’s make it Happen in the Philippines!” he said. The post DTI wants stronger China-Phl alliance appeared first on Daily Tribune......»»
Bright prospects seen for industrial property
Opportunities brought about by the pandemic in the areas of e-commerce, food and groceries, and other essentials are driving the growth prospects in the industrial property segment, according to a real estate consultancy firm......»»
E-commerce, BPO bright spots for Philippines economy post pandemic
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Binance ban a boon to local crypto firms
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Vehicle sales rev up by 23% in February
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‘Trade with China should continue’
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Championing women in business
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Philippine food firms’ sales hit $133 million in Dubai fair
Philippine food companies generated $133 million worth of export sales from a food trade show held in Dubai last month, according to the Center for International Trade Expositions and Missions......»»
Business groups laud passage of Salt Industry Development Act
Business groups Philippine Exporters Confederation Inc. (Philexport) and Philippine Chamber of Commerce and Industry (PCCI) welcomed the approval of a law that aims to revive the salt industry which is seen to support economic growth and help create jobs......»»
1 dead, 2 hurt in truck smashup
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First Gen income up 4 percent to P15.4 billion in 2023
Lopez-led power firm First Gen Corp. grew its income by four percent to P15.4 billion in 2023, from the previous year’s profit of P14.3 billion, mainly due to contributions from its geothermal subsidiary Energy Development Corp......»»
Asialink eyes P2.4 billion in truck loans as e-commerce grows
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Exploring the culinary heritage of Pampanga
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Top 10 e-commerce sites in the Philippines 2019 - ASEAN UP
With a dynamic economy and a large population proficient with digital technologies, the Philippines is a fast-growing market for e-commerce in Southeast Asia. Several websites and digital applications are already fighting for market share, with global, regional and national players. The growing connectivity of the Philippines, rapidly overcoming the countrys infrastructure difficulties, enable more and Continue reading &q.....»»
Water under the bridge
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Social Media Firms Shares Soar in Stock Market Debut
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First Gen to upgrade, expand Casecnan plant
Lopez-led First Gen Corp. is expanding and upgrading the Casecnan hydroelectric power plant after taking over the facility last month......»»
Oil price hike expected this Holy Week
Oil firms are expected to implement an increase in pump prices on Holy Tuesday, March 26......»»