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NEDA backs Radio Control Law amendment
The National Economic and Development Authority plans to recommend the inclusion of the amendment of the Radio Control Law in the government’s list of priority bills for approval......»»
Agriculture secretary calls for amendment of Philippine Fisheries Development Authority
Agriculture secretary calls for amendment of Philippine Fisheries Development Authority.....»»
Nuke developers call to set competitive playing field
Government regulators are now urged to prioritize the establishment of a level-playing field to entice developers to pour in massive capital for the development and integration of nuclear power into the country's electricity grid. During the second nuclear energy roundtable talks between the Philippines and Canada on Tuesday, Felino Bernardo, chief operating officer of Aboitiz Power Corp.'s Thermal Business Group, emphasized the need for well-coordinated industry policies to help kick off local nuclear adoption. "I think it will start with the amendment or the passing of laws in the Lower House. Once done, it requires setting up the regulatory body, and for that regulatory body to build its capability and come up with regulations, policies, and guidelines for us developers to follow," Bernardo said. "The DoE (Department of Energy) has to come up with the right signal for developers to come up with their plans to make sure that we build accordingly," he added. Coordinated deals Bernardo noted that nuclear power plants, whose operations can last as long as 80 years, require a different set of policies for power deal contracts. "That is quite different from what we have now. The current CSP (Competitive Selection Process) policies are only for 15 years. Now, nuclear power plants can live as long as 40, 60 years, and some probably 80, so you have to match the two," he explained. According to Bernardo, nuclear power, particularly the small modular reactors, "have a place in our economy because we need all of them and we will need a lot of them." He, however, noted that developers need to make sure that they can deliver nuclear power safely. Aboitiz Power Corp., the holding company for energy-related investments of the Aboitiz Group, previously announced its exploratory discussion with Ultra Safe Nuclear Corp., an American firm that can potentially help the company’s local nuclear energy development. The forum yesterday served as a platform for industry experts, policymakers, and leaders to collectively deliberate on the significant questions and concerns related to the transition to nuclear energy. It covered the determining mechanisms for transition financing, assessing the commercial viability of nuclear energy, and exploring the potential for retrofitting and upgrading existing plants to be nuclear-capable. Congress support Meanwhile, Energy Secretary Raphael Perpetuo Lotilla reiterated that the government would need the support of Congress in ratifying a law that would help jumpstart nuclear development. Pending the law, Lotilla pointed out that the DoE and all other concerned government agencies are actively looking out for possible sites where a nuclear power plant can be built. To recall, the House Nuclear Energy Committee approved a consolidated substitute bill last March that seeks to comprehensive atomic regulatory framework and establish the Philippine Atomic Regulatory Commission. Since the government is prohibited from taking on power generation endeavors, the DoE has also tapped the National Economic and Development Authority to work on the private sector’s participation in nuclear development. The post Nuke developers call to set competitive playing field appeared first on Daily Tribune......»»
Fuel subsidy easing eyed
An immediate release of government assistance to public utility vehicles will be achieved by shortening the trigger period from three months to one and simplifying the requirements, the Department of Energy said yesterday. The proposal, nonetheless, may need the amendment of the law for releasing fuel subsidies to the transport sector. In a press briefing, Energy Secretary Raphael Lotilla said this was one of President Ferdinand “Bongbong” Marcos Jr.’s proposed solutions to the oil price shock that is expected to worsen amid the spreading Middle East conflict. $80 per barrel long breached Under the current law, fuel subsidies are released to the transport sector whenever the Dubai crude oil price exceeds $80 per barrel for three consecutive months. Lotilla said shortening the trigger period will allow the government to release the subsidies faster to the transport sector, one of the sectors most affected by rising fuel prices. “With this simplification or shortening of the period, we will be able to release the subsidies in a shorter period,” Lotilla said. “Since Congress is now considering the General Appropriations Act, it will be included in that process. The amendment will take effect in 2024 immediately upon Congress’s approval of the GAA,” he added. The DoE chief also said the government will simplify the requirements for the release of the fuel subsidies. The release of the subsidies requires the approval of the DoE, the Department of Transportation, and the Department of Budget and Management. Lotilla said that under the new proposal, the release of the subsidies will only require the approval of the DBM, DoTr and the DoE. He said the DoTr will finalize the list of beneficiaries for those with franchises, the Department of the Interior and Local Government for tricycle drivers, and the Department of Trade and Industry for delivery service drivers. Even though there’s an effort to expedite assistance, Lotilla said the fuel subsidy in the 2024 national budget was decreased to P2.5 billion from P3 billion this year. The energy chief, however, believes that even with the reduced budget, the required funding will be met. “That’s based on the experience of the previous year. We don’t know what will be the final amount,” the official said. Other measures on table Lotilla added the government will implement a voluntary 20-percent ethanol blend for gasoline, which is targeted for approval by the end of 2023. He said the ethanol blend will help mitigate the rising fuel prices, as ethanol is cheaper than gasoline. Lotilla said the President also instructed him to continue the transport sector’s electrification, particularly for mass transport and light cargo vehicles. He said the government will put in place charging stations and ensure that the benefits to the transport sector, particularly the drivers, will be there. Lotilla said the President also emphasized the need to prepare the economy for the eventual manufacture of electric vehicles and to link this with the local mining sector that will produce the minerals needed to manufacture batteries and other components of electric vehicles. Rules out soon The DoE is also releasing the guidelines for the implementation of the long-delayed higher biofuels blend before the year ends. Lotilla said the current 10-percent ethanol blend, also known as E10, in gasoline would be increased to 20 percent or E20, although it would be a voluntary option for motorists. Lotilla added that the current two percent or B2 coco methyl ester or CME blend on diesel will be adjusted to three percent or B3. Based on the DoE calculation, implementing the E20 blend could slash gasoline prices by around P1.28 to P1.50 per liter. While ethanol is generally cheaper than gasoline, Lotilla noted that local ethanol at P79.49 a liter is still more expensive than the imported supply at P41.84 per liter. Lotilla said DoE will bank on the coconut industry, whose production reaches up to 15 billion nuts annually, to complement the B3 shift. “An additional 1 percent blend only needs 2.6 billion nuts. The increase in the blend can also drive down the cost of CME because there will be a bigger market for it. Right now, we expect pure diesel to be at parity with the per liter price of CME,” Lotilla explained. With Maria Romero The post Fuel subsidy easing eyed appeared first on Daily Tribune......»»
Govt to shorten trigger period for fuel subsidies
The government will shorten the trigger period for releasing fuel subsidies to the transport sector from three months to one month, and simplify the requirements for its release, the Department of Energy said on Tuesday. In a Malacañang Press Briefing, Energy Secretary Raphael Lotilla said this was one of President Ferdinand Marcos Jr.'s decisions during the latest sectoral meeting. Under the current law, fuel subsidies are released to the transport sector whenever the Dubai crude oil price exceeds $80 per barrel for three consecutive months. Lotilla said the shortening of the trigger period will allow the government to release the subsidies faster to the transport sector, which is one of the sectors most affected by the rising fuel prices. "With this simplification or shortening of the period, we will be able to release the subsidies in a shorter period of time," Lotilla said. "Since Congress is right now considering the General Appropriations Act, it will be included in that process. The amendment will take effect in 2024 immediately upon Congress's approval of the GAA," he added. The DOE chief also said the government will simplify the requirements for the release of the fuel subsidies. The release of the subsidies requires the approval of the DOE, the Department of Transportation, and the Department of Budget and Management. Lotilla said that under the new proposal, the release of the subsidies will only require the approval of the DBM, the DOTr, and the DOE. He said the DOTr will finalize the list of beneficiaries of the fuel subsidies for those with franchises, the Department of Interior and Local Government for tricycle drivers, and the Department of Trade and Industry for delivery service drivers. Even though there's an effort to expedite assistance distribution, Lotilla mentioned that the fuel subsidy allocation in the 2024 national budget was decreased from P3 billion this year to P2.5 billion. However, he believes that the reduced budget will still be adequate to meet the required funding. "That’s based on the experience on the previous year. We don't know what will be the final amount,” the official said. Other measures Lotilla also said that the government will implement a voluntary 20 percent ethanol blend for gasoline, which is targeted for approval by the end of 2023. He said the ethanol blend will help mitigate the rising fuel prices, as ethanol is cheaper than gasoline. Lotilla said the President also instructed to continue the transport sector's electrification, particularly mass transport and light cargo vehicles. He said the government will put in place charging stations and ensure that the benefits to the transport sector, particularly the drivers, will be there. Lotilla said the President also emphasized the need to prepare the economy for the eventual manufacture of electric vehicles in the country, and linking this up with the local mining sector that will produce the minerals needed to produce batteries and other components of electric vehicles......»»
Go wants update of indigent seniors list
Senator Christopher “Bong” Go emphasized the need to update the list of indigent senior citizens, in accordance with Republic Act 11916. The said law also mandates an increase in the pension of indigent senior citizens from P500 to P1,000. RA 11916 or an Act Increasing the Social Pension of Indigent Senior Citizens amended RA 7432, the first Senior Citizens Act. The law was co-authored by Go in the Senate. “This amendment is a step forward in ensuring a better quality of life for our senior citizens. It’s crucial that we provide them with the necessary support to live comfortably,” Go said. Go then cited Section 6 of RA 11916 which mandates the Department of Social Welfare and Development, transitioning later to the National Council for Senior Citizens, to annually update and validate the beneficiary list with the aid of the Philippine Statistics Authority and the local government units. He expressed his concern regarding the need to urgently update the list of beneficiaries, as the number of indigent seniors may have increased over time. “It’s imperative that we review and promptly update the list of beneficiaries to ensure that the aid reaches the senior citizens who are truly qualified to benefit from the law,” Go remarked. Go co-authored and co-sponsored Senate Bill 2028, which was principally sponsored by Senator Imee Marcos. The bill aims to provide additional support to individuals who have reached the age of 80 and 90 years old. This proposal amends the Centenarian Act of 2016, acknowledging that not everyone reaches the milestone of a century. In another development, the senator, upon the invitation of the British group Interparliament Union, joined Senate President Juan Miguel Zubiri and Senator Grace Poe as they represented the Philippine Senate during an official visit to the United Kingdom from October 16 to 18. The post Go wants update of indigent seniors list appeared first on Daily Tribune......»»
Bong Go calls on DSWD, concerned agencies to update list of indigent senior citizens
Senator Christopher "Bong" Go emphasized the need to update the list of indigent senior citizens, in accordance with Republic Act No. 11916. The said law also mandates an increase in the pension of indigent senior citizens -- from PHP500 to PHP1,000. RA 11916 or an Act Increasing the Social Pension of Indigent Senior Citizens amended RA 7432, the first Senior Citizens Act. The law was co-authored by Go in the Senate. “This amendment is a step forward in ensuring a better quality of life for our senior citizens. It's crucial that we provide them with the necessary support to live comfortably,” Go said. “Nandiyan na ang batas. Dapat maimplementa ito ng maayos para mapakinabangan ng taumbayan lalo na ng mga matatanda na sakop ng batas na ito. Ibigay dapat ang nararapat sa kanila at huwag patagalin pa,” he stressed. Go then cited Section 6 of RA 11916 which mandates the Department of Social Welfare and Development (DSWD), transitioning later to the National Council for Senior Citizens (NCSC), to annually update and validate the beneficiary list with the aid of the Philippine Statistics Authority (PSA) and the local government units. Go expressed his concern regarding the need to urgently update the list of beneficiaries, as the number of indigent seniors may have increased over time. "It's imperative that we review and promptly update the list of beneficiaries to ensure that the aid reaches the senior citizens who are truly qualified to benefit from the law," Go remarked. Go also co-authored and co-sponsored Senate Bill No. (SBN) 2028, which was principally sponsored by Senator Imee Marcos. The bill aims to provide additional support to individuals who have reached the age of 80 and 90 years old. This proposal amends the Centenarian Act of 2016, acknowledging that not everyone reaches the milestone of a century. He emphasized the cultural significance of caring for the elderly in the country and highlighted the importance of providing them with financial support while they can still benefit from and enjoy it. “Nasa kultura na nating mga Pilipino na alagaan ang ating mga nakakatanda. Dapat natin silang suportahan at bigyan ng pagkilala. Habang kaya pang pakinabangan at ma-enjoy ng senior citizen ang cash gift, ibigay na natin sa kanila,” said Go. Just recently, the Office of Senator Go, together with United Senior Citizens Partylist Rep. Milagros Aquino-Magsaysay, the Office of Senator Robin Padilla, and volunteer organizations, spearheaded an activity for senior citizens on Monday, October 16, during the United Senior Citizens Association-Quezon City (USCAQC) General Assembly held at White Twins Court, Quezon Memorial Circle in Quezon City. Around 1,000 attendees were provided with essential goods from Senator Go such as grocery packs, snacks, and shirts while a select recipient likewise received a cellular phone. The participants were also given various forms of assistance from the participating offices to promote the welfare of the elderly. Meanwhile, Go urged senior citizens to utilize the services of Malasakit Centers for medical assistance they might need. Initiated by Go in 2018, the Malasakit Centers program was institutionalized under the Malasakit Centers Act of 2019, which he principally authored and sponsored. There are now 159 Malasakit Centers nationwide that have helped more than seven million Filipinos. “Prioritizing the needs of the underprivileged, especially senior citizens, in public service delivery is paramount. Rest assured, I will continue to support programs aimed at improving the lives of the elderly,” concluded Go. The post Bong Go calls on DSWD, concerned agencies to update list of indigent senior citizens appeared first on Daily Tribune......»»
PEZA chief understands investors’ dilemma
The director general of the Philippine Economic Zone Authority said he understands the clamor of investors with regard to tax perks and incentives, which is why it’s only right that the government has finally decided to amend the implementing rules and regulations of Republic Act No. 11534 or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. During discussions at the Rotary Club of Manila membership meeting last 5 October 2023, a member of the Club who is an investor in various sectors locally said the current policies of the government in terms of tax perks were unpredictable because of the “tug of war” between the investment promotion agencies, that is, PEZA and the Board of Investments, which are both under the watch of the Department of Trade and Industry, and the Fiscal Incentives Review Board, chaired by Finance Secretary Benjamin Diokno. Last among five countries He said that explains why the Philippines is the last among five countries considered by investors as investment destinations in Southeast Asia, with investments now being dominated by Vietnam, followed by Singapore, Malaysia and Cambodia. The Rotarian said in terms of exports, the Philippines is also a laggard compared to the performance of the country’s Southeast Asian counterparts. Total Philippine exports dropped to $6.1 billion in July 2023, from $6.7 billion in the previous month. In comparison, Vietnam in August 2023 enjoyed $32.8 billion in exports. Most attractive destination Vietnam is now considered Southeast Asia’s most attractive destination for foreign investors because of its favorable business environment, steady economic growth, improved infrastructure and pro-foreign investment policy changes. According to Standard Chartered Bank, Vietnam’s advantages to being the top tourist destination are in terms of labor, global trade integration, supply chains, political stability, and potential resources, with the government committed to promoting trade and sustainable growth. Unclear policies Another issue that was being questioned by some investors, according to the Rotarian, is the realization of the Fourth Industrial Revolution which also doesn’t have clear policies for renewable energy, data centers, information technology and artificial intelligence. “We have yet to see concrete policy formulation and a roadmap to that effect, compared to the recent pronouncement of US President Joe Biden that Vietnam is positioned as the future chipmaker. The United States is currently legislating measures to dispense funds for that purpose. There seems to be a disconnect,” the investor said. Regarding this, PEZA’s Panga admitted that there were indeed ‘differences’ in terms of policies among government agencies, particularly the DTI and the FIRB. Still, Panga sought the support of the oldest and first Rotary Club in Asia where it concerns PEZA’s job to further attract foreign direct investments into the country. Panga emphasized that a whole government, industry, and society approach is needed to improve and lessen the cost of doing business. Eco-zoning push “Through our collaborations and strategic alliances, PEZA, together with the Rotary Club of Manila, other ecozone industries, and stakeholders, will continue to push for eco-zoning the Philippines towards inclusive and sustainable development,” he added. Last August 2023, Finance Secretary Diokno and Trade and Industry Secretary Pascual approved the amendment to the IRR of the CREATE Act that will resolve the value-added tax issues raised by transitory registered business enterprises. The post PEZA chief understands investors’ dilemma appeared first on Daily Tribune......»»
PEZA chief understands Rotarian investors’ dilemma
The director general of the Philippine Economic Zone Authority said he understands the clamor of investors with regard to tax perks and incentives, which is why it’s only right that the government has finally decided to amend the implementing rules and regulations of Republic Act No. 11534 or the Corporate Recovery and Tax Incentives for Enterprises Act. During discussions at the Rotary Club of Manila Membership Meeting on Thursday, a Rotarian who has invested in the country said the current policies of the government in terms of tax perks remain unpredictable because of the ‘tug of war’ between the investment promotion agencies, namely PEZA and the Board of Investments, which are all under the watch of the Department of Trade and Industry, with the Fiscal Incentives Review Board, chaired by Finance Secretary Benjamin Diokno. He said that the reason why the Philippines is the last among the top five countries considered as top investment countries in Southeast Asia, which is now being dominated by Vietnam, followed by Singapore, Malaysia, and Cambodia. He said in terms of exports, the Philippines is also a laggard compared to the performance of Southeast Asian counterparts. The Philippines' total exports plummeted to $6.1 billion in July 2023, compared with $6.7 billion in the previous month. Its tough competitor, Vietnam, this August 2023 is enjoying $32.8 billion in exports. Vietnam is now considered Southeast Asia’s most attractive destination for foreign investors because of its favorable business environment, steady economic growth, improved infrastructure, and policy changes. According to Standard Chartered, Vietnam’s advantages to being the top tourist destination are in terms of labor, global trade integration, supply chains, political stability, and potential resources, with the government committed to promoting trade and sustainable growth. Unclear policies Another issue that was being questioned by some investors, according to the Rotarian, is the realization of the Fourth Industrial Revolution which doesn’t have clear policies for renewable energy, data centers, information technology, and artificial intelligence. “We have yet to see concrete policy formulation and roadmap to that effect. Compared to the recent pronouncement of US President Joe Biden Vietnam will be positioned as the future chipmaker, and the US is now legislating measures to dispense funds for that purpose. There seems to be a disconnect,” the investor said. With this, PEZA’s Panga admitted that there are indeed ‘differences’ with government agencies, particularly the DTI and the FIRB, but also sought the support of the club in PEZA’s job to further attract foreign direct investments into the country. Panga further emphasized that a whole government, industry, and society approach is needed to improve the ease and lessen the cost of doing business. "Through our collaborations and strategic alliances, PEZA, together with the Rotary Club of Manila, other ecozone industries, and stakeholders, will continue to push for eco-zoning the Philippines towards inclusive and sustainable development," he added. Last August, Finance Secretary Diokno and Trade and Industry Secretary Pascual approved the amendment to the IRR of the Act that will resolve the value-added tax issues raised by transitory registered business enterprises. The post PEZA chief understands Rotarian investors’ dilemma appeared first on Daily Tribune......»»
Despite House vow, VP Sara’s confidential funds still ‘intact’
The confidential funds of the Office of the Vice President and the Department of Education totaling P650 million have yet to be transferred to security and intel agencies. Lawmaker Johnny Pimentel of Surigao on Thursday disclosed in an interview that the multi-million CF initially allocated to the OVP and DepEd remains within the purview of Vice President Sara Duterte, who governs the two agencies. Duterte sought P2.395 billion for OVP and P758.6 billion for DepEd in the proposed 2024 budget, including P500 million and P150 million in confidential funds, respectively. "At the moment [the OVP's and DepEd's CF is] not yet [transferred] because of time constraints. The budget was passed last night. The confidential funds allocated in each agency [are] still intact," he said. "However, there will be a small committee of four that will tackle the proposed amendment. It could be done there, or it could be done during the bicameral conference," he said. Pimentel was one of the party leaders in the House who decided to realign Duterte's P650 million to agencies involved in security and intelligence, such as the Philippine Coast Guard, National Intelligence Coordinating Agency, National Security Council, and the Bureau of Fisheries and Aquatic Resources amid China's persistent assertiveness in the West Philippine Sea. The most recent was the installment of a floating barrier in Bajo de Masinloc or Scarborough shoal off the coast of Zambales by the Chinese Coast Guard. The Senate leadership, according to Pimentel, concurs with the House's proposal and has expressed willingness to reallocate such funds to other agencies that most need them. "If you recall, Senate President Migz Zubiri also issued a statement that they will follow suit or follow the direction of the proposal of the lower house to reallocate the confidential intelligence funds," Pimentel said. "So, this will be up for discussions during the bicameral conference meeting or probably during the deliberations in the Senate," he added. The House leadership said it will reallocate Duterte's P650 million confidential funds following a consensus by the chamber's party leaders to augment funds for security and intel agencies to better safeguard Philippine territorial waters and guarantee Filipino fishermen rights and access to their traditional fishing grounds. House committee on appropriations chairperson Elizaldy Co confirmed on Wednesday that the lower chamber agreed to eliminate the confidential and intelligence of several agencies and that the OVP and DepEd were the first to be identified to received the budget cuts. "The country's safety and security are of paramount importance. To protect our territorial integrity from external threats, Congress is giving top priority to agencies directly in charge [of] protecting the country's safety and securing its borders," he stressed. "As discussed, we will realign the confidential funds of various civilian agencies. Now is the time to give our intelligence community the means to perform their duties, especially in these pressing times when we’re facing serious concerns in the West Philippine Sea," Co explained. Marathon deliberations in the proposed P5.768 trillion budget for 2024 have led to intense debates in the House, particularly on the grant of multi-million confidential funds to numerous civilian agencies, including the OVP and DepEd, that have nothing to do with surveillance. Last week's deliberations revealed that Duterte's office spent P125 million in confidential funds in 2022 in merely 11 days— not 19 days-- as initially claimed by some opposition lawmakers. The P125 million CF was part of the P221.42 million contingent fund of the OP transferred to the OVP in 2022, with the opposition claiming it was unconstitutional since there was no line item in the OVP's 2022 budget on confidential funds in the 2022 General Appropriations Act. The post Despite House vow, VP Sara’s confidential funds still ‘intact’ appeared first on Daily Tribune......»»
Indonesia bans goods transactions on social media platforms
Indonesia has banned goods transactions on social media platforms in a new regulation, its trade minister said Wednesday, as Jakarta aims to rein in direct sales on major platforms it says are harming millions of small businesses. Calls had grown in recent months for a regulation governing social media and e-commerce, with offline sellers seeing their livelihoods threatened by the sale of cheaper products on TikTok Shop and other platforms. Indonesia is one of the world's biggest markets for TikTok Shop and was the first to pilot the app's e-commerce arm. "Now, e-commerce cannot become social media. It is separated," Trade Minister Zulkifli Hasan told a news conference in the capital, Jakarta, adding that the trade regulation came into force on Tuesday. Hasan said social commerce platforms would have a week to comply with the new rule. "Any government would protect local small businesses," he said, describing the regulation as a way to ensure "equality in business competition". The regulation means social commerce companies are now "prohibited to facilitate payment transactions in its electronic system", according to the regulation document seen by AFP. "Social commerce can place ads like TV, but it mustn't be transactional. (They) can't open shop, can't directly sell," Hasan said, without mentioning TikTok by name. Companies that did not comply would be warned first and would finally have their license to do business in Indonesia revoked, he said. Laws in the archipelago nation did not cover direct transactions through social media platforms such as TikTok, Facebook or Instagram before the new regulation. The new regulation is yet another setback for TikTok, which has faced intense scrutiny in the United States and other nations in recent months over users' data security and the company's alleged ties to Beijing. "Other countries are banning, we don't, we're regulating," Hasan said. Indonesia is now the first country in the region to act against the platform's growing popularity in social media commerce. The ministerial-level regulation -- an amendment to a trade regulation issued in 2020 -- did not need approval by lawmakers. TikTok Indonesia said the company was "deeply concerned" about the policy, which would impact millions of sellers and creators using TikTok Shop. "We respect local laws and regulations and will be pursuing a constructive path forward," it said in a statement. Meta -- which owns Facebook and Instagram -- did not respond to a request for comment. 'Markets are quiet' Hasan appeared to confirm the companies would have to choose between separate social media and e-commerce licences. "It's clear... there are no permits for social commerce. If (they) want social commerce, please, only for promotion and ads. If (they) want to sell, there are e-commerce (permits)." The regulation also sets a minimum price of $100 for certain foreign goods bought from Indonesian sellers on e-commerce platforms, according to the regulation document seen by AFP. Some offline sellers at the Tanah Abang market in Jakarta applauded the government's decision. "The government should... dare to innovate given the current situation, where markets are quiet like this," said Stevanie Ahua, a 60-year-old wholesale denim jeans seller. She said her revenue had dropped by 60 percent in recent months as buyers turned to online shops. Others such as 29-year-old cookie baker Panji Made Agung in Bali said he was disappointed by the ban. "For sellers like me, TikTok can be used for soft selling. We can become influencers and sellers at the same time," he said. Experts said the transaction ban would hit the coffers of social media platforms such as TikTok, which takes a commission from every sale. "They will definitely incur losses," said Tauhid Ahmad, executive director of the Jakarta-based Institute for Development of Economics and Finance. Indonesia's e-commerce market is dominated by platforms such as Tokopedia, Shopee and Lazada but TikTok Shop gained a significant market share since launching in 2021. Indonesia, with 125 million users, is TikTok's second-largest global market after the United States, according to company figures. TikTok's chief executive Shou Zi Chew visited Jakarta in June, pledging to pour billions of dollars into Southeast Asia in the years ahead. The post Indonesia bans goods transactions on social media platforms appeared first on Daily Tribune......»»
Indonesia bans goods transactions on social media platforms
Indonesia has banned goods transactions on social media platforms in a new regulation, its trade minister said Wednesday, as Jakarta aims to rein in direct sales on major platforms it says are harming millions of small businesses. Calls had grown in recent months for a regulation governing social media and e-commerce, with offline sellers seeing their livelihoods threatened by the sale of cheaper products on TikTok Shop and other platforms. "This trade regulation has been in force (since yesterday)," Trade Minister Zulkifli Hasan told a news conference in the capital Jakarta. He said social commerce platforms would have a week to comply with the new rule. "Any government would protect local small businesses," he said, saying the regulation was passed to ensure "equality in business competition". The regulation means social media firms will not be able to conduct direct transactions but only promote products on their platforms. "Social commerce can place ads like TV, but it mustn't be transactional. (They) can't open shop, can't directly sell," he said, without mentioning TikTok by name. Laws in the archipelago nation did not cover direct transactions through social media platforms such as TikTok, Facebook or Instagram before the new regulation. The new regulation is yet another setback for TikTok, which has faced intense scrutiny in the United States and other nations in recent months over users' data security and the company's alleged ties to Beijing. "Other countries are banning, we don't, (we're) regulating," Hasan said. Indonesia is one of the world's biggest markets for TikTok Shop and was the first to pilot the app's e-commerce arm. But Indonesia is now the first country in the region to act against the platform's growing popularity in social media commerce. The ministerial-level regulation -- an amendment to a trade regulation issued in 2020 -- did not need approval by lawmakers. Chinese technology giant and TikTok owner ByteDance and TikTok Indonesia did not respond immediately to a request for comment Wednesday. But a TikTok Indonesia spokesperson told AFP on Monday the ban would harm as many as six million local sellers who market their products on the platform. Meta -- which owns Facebook and Instagram -- did not respond to a request for comment. 'Markets are quiet' How the ban will work exactly remains unclear but experts said it could mean social media firms would have to obtain a separate approval for their e-commerce arms. "It could be that their license will be rearranged," said Tauhid Ahmad, executive director of the Jakarta-based Institute for Development of Economics and Finance. Offline sellers at Tanah Abang market in Jakarta applauded the government's decision. "The government should... dare to innovate given the current situation, where markets are quiet like this," said Stevanie Ahua, a 60-year-old wholesale denim jeans seller. She said her revenue had dropped by 60 percent in recent months as buyers turned to online shops. Others like 29-year-old cookie baker Panji Made Agung in Bali said he was disappointed by the ban. "For sellers like me, TikTok can be used for soft selling. We can become influencers and sellers at the same time," he said. Indonesia's e-commerce market is dominated by platforms such as Tokopedia, Shopee and Lazada but TikTok Shop gained a significant market share since launching in 2021. Indonesia, with 125 million users, is TikTok's second-largest global market after the United States, according to company figures. TikTok's chief executive Shou Zi Chew visited Jakarta in June, pledging to pour billions of dollars into Southeast Asia in the coming years. The post Indonesia bans goods transactions on social media platforms appeared first on Daily Tribune......»»
Magna carta for seafarers certified as urgent welcomed
Senators welcomed the move of President Ferdinand Marcos Jr. to certify as urgent a proposed measure crafting a Magna Carta for seafarers. Senator Raffy Tulfo, the sponsor of Senate Bill 2221 otherwise known as the Magna Carta of Filipino Seafarers, said the passage of the proposed measure will promote the welfare and continuous employment of seafarers on board foreign-owned vessels. "I am very happy that we have passed the first phase of the period of amendments for the Magna Carta of Filipino Seafarers bill yesterday (25 Sept), which coincides with the celebration of the National Maritime Week,” he said. In a letter to Senate President Juan Miguel Zubiri dated 25 September, Marcos emphasized the need for the immediate enactment of SB 2221 to address "recurring deficiencies in our domestic laws pertaining to the training and accreditation of thousands of Filipino seafarers.” Tulfo expressed confidence that the bill will soon be passed into law. "Matapos ang unang stage ng period of amendment at ang suportang ito mula mismo kay Pangulong BBM, mas tiwala ako na mapapabilis ang pagsasabatas ng Magna Carta of Filipino Seafarers bill," he said, as he rallied for the need to address shortcomings in the education and certification of Filipino mariners. Among other lawmakers who filed their versions of the Magna Carta of Filipino Seafarers include Senators Joel Villanueva, Risa Hontiveros, Bato dela Rosa, Jinggoy Estrada, Robinhood Padilla, Cynthia Villar, Sonny Angara, Grace Poe, Win Gatchalian, Bong Revilla, Christopher Bong Go, Mark Villar, Loren Legarda, and Zubiri. Go, vice chairman of the Senate Committee on Migrant Workers earlier cited the significant role of Filipino seafarers in global trade and marine transportation. He noted the industry’s huge contribution of all overseas Filipino workers to the country's economy. Go said the Philippines has been the primary source of maritime labor and considered the manning capital of seafarers globally since 1987. Of the 1.5 million mariners worldwide, 25 percent are Filipino sea-based workers, making them the single biggest nationality bloc in the maritime industry, he added. Hence, the passage of a proposed Magna Carta for the Seafarer must be crucial “for protecting the rights and welfare of seafarers in situations where they are vulnerable or exploited, such as during emergencies, accidents, or conflicts,” said Go. The post Magna carta for seafarers certified as urgent welcomed appeared first on Daily Tribune......»»
Marcos wants cutting importers’ 15-day grace period to ‘prove legitimacy’
Malacañang on Saturday said President Ferdinand Marcos Jr. wants to shorten to seven days the grace period given to importers to prove the legality of their shipments, particularly rice. In his speech during the government’s recent rice distribution in General Trias, Cavite, Marcos said his administration is now studying legal remedies that could resolve the woes importation industry. Marcos seeking a possible amendment to Section 114 under Right of Appeal, Forms, and Ground of Republic Act 10863, or the Customs Modernization and Tariff Act, which stated that “any party adversely affected by a decision or omission of the Bureau [of Customs, or BOC] pertaining to an importation, exportation, or any other legal claim shall have the right to appeal within 15 days from receipt of the questioned decision or order.” “Kaya nag-antay lang kami dahil bago mo huhulihin, nasa batas, kailangan ‘yung importer… kailangan patunayan within 15 days na legal ‘yung kanilang inimport. Kaya’t medyo natagalan dahil inantay pa natin ‘yung 15 days (We just wait before arresting them, because under the law, the importers.. they need to prove within 15 days that their goods are legally imported. That’s why we wait until 15 days),” Marcos explained. Marcos said the 15-day grace period granted to importers may be too long and might allow them to smuggle rice again. “At sinusubukan natin ngayon bawasan ‘yung 15 days into seven days dahil kung legal ka na importer, hawak mo lahat ng dokumento. Pag hinanap sa iyo ‘yan, bibigay niyo kaagad. So, bakit pa 15 days:? (We are trying to reduce the 15 days into 7 days because if you are a legal importer, you should have al the documents so that if it is asked to be presented, you can give it right away.. So why there;’s a need for 15 days?),” he added. The post Marcos wants cutting importers’ 15-day grace period to ‘prove legitimacy’ appeared first on Daily Tribune......»»
Israeli PM Netanyahu urges Musk to fight anti-Semitism
Israel's Prime Minister Benjamin Netanyahu on Monday urged Elon Musk to fight anti-Semitism on his X platform as he sat down with the tech tycoon to discuss artificial intelligence. The conversation, which was broadcast on Musk's X platform (formerly Twitter), came as the Tesla tycoon is mired in row with the Anti-Defamation League, a US-based Jewish organization. Musk has accused the ADL of making unfounded accusations of anti-Semitism that have scared away advertisers and hurt his company's revenue, and has threatened to sue for billions of dollars. The ADL has for years accused the social media site of amplifying anti-Semitic hate speech, and has charged that problematic and racist speech has risen sharply on X after Musk completed his $44 billion takeover in October. "I know your commitment to free speech," Netanyahu told Musk, who has branded himself a free speech absolutist and welcomed back tens of thousands of banned accounts to the platform when he took over. "I respect that because it's foundational to democracies, but I also know your opposition to anti-Semitism..." the prime minister said. "I hope you find within the confines of the First Amendment, the ability to stop not only anti-Semitism, or rolling it back as best you can, but any collective hatred of people that anti-Semitism represents," Netanyahu said. Musk said while his website couldn't stop all hate speech before it was posted, he was "generally against attacking any group, no matter who it is." "I'm in favor of that which furthers civilization and which ultimately leads us to become a space-faring civilization, and where we understand the nature of the universe," Musk said. "We can't do that if there's a lot of infighting and then hatred and negativity," he added. 'Blessing and curse' The main topic of the conversation was the potential fallout from AI. "I think in many ways, we stand today at a juncture for all humanity, where we have to choose between a blessing and a curse," Netanyahu told Musk. Musk, who founded his own AI company this year, said he was optimistic that international powers would see the wisdom of setting common rules for AI in order to avoid any catastrophic outcomes that would affect humanity. "Every sport has a referee of one kind or another so that's the rationale for AI safety," Musk argued, saying a repeat of a nuclear arms race on AI was unwise. Musk said he recently warned senior officials in China that if AI "is sufficiently powerful, and care is not taken, that digital super intelligence could be in charge of China, instead of the CCP (the Chinese Communist Party)." "The CCP prefers to be in charge" and took action on regulation, he added. The post Israeli PM Netanyahu urges Musk to fight anti-Semitism appeared first on Daily Tribune......»»
UK report exposes high number of anonymous property owners
Over two-thirds of properties in the UK held by overseas shell companies still do not publish information about the identity of their owners, according to new research. The report by researchers at the LSE, the University of Warwick and the Centre for Public Data found that law enforcement agencies did not even know the true identities of the owners of 35 percent of the properties. The UK government has previously committed itself to cracking down on anonymous ownership of UK property. Parliament was on Monday due to consider amendments to the Economic Crime Bill, aimed at closing some loopholes, but the LSE said Prime Minister Rishi Sunak's Conservative government was opposing this. "We still don't know who really owns tens of thousands of properties in the UK. The government should act to close these loopholes," said Anna Powell-Smith, director of the Centre for Public Data. The report said the identity of owners was hidden in the cases of 109,000 out of 152,000 properties (over 70 percent) held via overseas companies. The main reason for "missing or inaccessible information" was the use of trusts, accounting for 63 percent, it said. The report also highlighted how shortcomings in the register of owners of UK companies -– known as the PSC register -– could also be allowing corrupt practices. At present, nominees and trustees owning shares are not required to tell UK authorities who they are acting for. The government is opposing an amendment that would bring transparency to these arrangements, the LSE added. "The striking thing is that most of the problems with the register are self-inflicted," said Cesar Poux, research officer at LSE's International Inequalities Institute. "There certainly is some rule-breaking, but most of the problems are because the legislation is flawed." The post UK report exposes high number of anonymous property owners appeared first on Daily Tribune......»»
Ex-DA chief: Rice scarcity to persist
Former Agriculture Secretary Leonardo Montemayor, now chairman of the board of the Federation of Free Farmers, said the scarcity in rice supply is expected to persist in the coming weeks and months, as the harvest season in the major rice-producing regions has yet to start. Montemayor said the Department of Agriculture’s earlier assertion that there would be an early harvest to boost the rice supply and stabilize prices is belied by the recent spate of typhoons that hit the country. “The DA last week said that some farmers in Isabela had already started harvesting palay (unmilled rice). However, upon checking, it appears that only one barangay has begun harvesting,” said Montemayor in an interview on Daily Tribune’s digital show Straight Talk Wednesday. He said it would take several weeks for the harvested palay to reach the retail markets, as it would need to be milled, bagged, and transported. “The problem now is that we have a very tight supply of rice. If you are a trader, you will try to maximize your gains amid the very tight supply and tough demands,” Montemayor said. The Philippines, he said, is still a major rice importer, even though it has a vast agricultural land area. “This year, we will be importing about 20 to 30 percent of our total rice consumption requirements. This means the palay we are harvesting is not enough to fill the rice needs of our Filipino consumers,” he said. Montemayor said the government should provide incentives to farmers and invest in updated machinery to help the country achieve rice self-sufficiency. He also called for an amendment to the Rice Tariffication Law, which he said has led to unlimited rice imports and has not helped stabilize rice prices. The post Ex-DA chief: Rice scarcity to persist appeared first on Daily Tribune......»»
More German firms eyeing Phl investments
More German firms are inclined to invest in the country given the Philippines’ good economic and investment posture, according to a recent survey from the German-Philippine Chamber of Commerce and Industry Inc. This was revealed by GPCCI President Stefan Schmitz during his meeting with Philippine Economic Zone Authority director general Tereso Panga last Tuesday, 22 August. During the meeting, GPCCI presented to PEZA the results of its bi-annual AHK World Business Outlook survey conducted among the GPCCI members. According to GPCCI, the results of the Spring 2023 survey revealed that the Philippines generally exhibited a better/higher result in the areas of economy, investments, employment, overall situation and expectations. In terms of investments, the survey revealed that 46 percent of the participating GPCCI members are likely to invest more in the country within the next 12 months. Recent advancements in EU-Phl FTA Given the recent advancements in the EU-Philippines free trade agreement and the positive outcome of a successful economic briefing in Germany back in July, we are confident that many German businesses will increasingly consider investing in the Philippines,” stated GPCCI president Schmitz. Despite this, GPCCI also raised some issues and concerns affecting German investors including the amendment of the Corporate Recovery and Tax Incentives for Enterprises or CREATE Law, as well as the PEZA Law, the high cost of doing business in the country, and the swift implementation of Executive Order 18. Issued on 23 February 2023, EO 18 is part of the Marcos administration’s eight-point agenda, which mandates all government offices, including the local government units, to expedite the processes involved in the issuance of permits, licenses, and certifications required to implement. The policy also directs the Board of Investments’ One-Stop Action Center as a Single Point of Entry further ensuring efficiency and ease of doing business in the country. PEZA accedes In response to this, Panga shared that PEZA is happy with surveys that compare the Philippines across ASEAN as it shows a vibrant outlook for the country as an investment destination. Highest growth rate in ASEAN “In ASEAN now, the Philippines is projected to have the highest GDP growth rate, making the Philippines one of the best-performing economies in the region and we need to take advantage of that. We don’t want to pass up on these opportunities. We can only realize these FDI leads if we’re able to improve our ease and cost of doing business,” he explained. Further, Panga said that they are glad that the President has already issued a compelling statement, directing concerned government offices to look into the CREATE, with the objective of amending it “… so that immediately we can provide relief to our locators who are unable to fully enjoy their incentives.” “These are the investors we have attracted to invest in the Philippines because of that promise of benefits and incentives as contained in the CREATE and in our registration agreements with PEZA. I think that should be the starting point before we can echo the call of the President to global investors that the Philippines is the smart investment destination in the region and that the best time to invest in the Philippines is now. We need to honor our commitments,” he explained. Panga also mentioned that PEZA will ask Congress to amend the 28-year-old PEZA Law to be able to cope with the demands of agile locators and remain competitive worldwide amid the fast-changing market trends. PEZA and the GPCCI both vowed to strengthen their collaborations to continuously attract German investors and other foreign investments in the country and even encourage existing investors to expand operations in the ecozones. GPCCI president Schmitz said, “With our longstanding partnership with PEZA, we eagerly anticipate offering our unwavering support to foster the promotion of the Philippines among German investors.” “We are positive that with your help, we can amplify our brand of service so that as we promote ecozones, we create connectivity until such time that the Philippines is dotted with all ecozones and we can see, at best, ease of doing business in the country so that investors will be able to maximize their investments in the Philippines and we can be more competitive in the region,” expressed the PEZA chief. PEZA currently hosts 40 registered German locator companies/projects which contribute P42.865 billion in investments (1.57 percent of the total PEZA investments), $412.664 million in exports, and 21,005 direct jobs. The post More German firms eyeing Phl investments appeared first on Daily Tribune......»»
Rethink tax
How does the Philippines attract more foreign investment? Last week, big business groups, including the American Chamber of Commerce of the Philippines and investors inside Clark and Subic freeports, appeal the review and amendment of pertinent rules issued by the tax bureau to preserve the original intent of the Create Act. According to the group, the IRR and the BIR issuances “effectively stopped” the enjoyment of the tax incentive and other fiscal perks, as some investor firms are now levied with VAT and other taxes. The group cited data from the World Bank, which showed that the Philippines only account for 5 percent of the total average foreign direct investment in the Asean (2011-2021) while neighbors like Singapore, Indonesia, Thailand, Malaysia and Vietnam account for 53 percent, 11 percent, 11 percent, 9 percent and 8 percent, respectively. They warned that, if the issue is not resolved, the Philippines’ ranking in global competitiveness might further slide down. In fact, Taiwanese businesses inside Clark and Subic freeports have been appealing to the authorities about these benefits issue for some time. As it is widely known, while Filipinos have high English proficiency, high electricity rates, poor infrastructure, transportation systems inadequacy, supply-chain shortages and lack of tax incentives are among the issues businesses are facing in the Philippines. Vietnam and Singapore have been top investment destinations for Taiwanese companies in the Asean. It is estimated that the overall volume of investment from Taiwan to the Philippines is only 1/16 of overall Taiwanese investment in Vietnam. To create a more amiable environment for FDI, it takes the government to be more determined to invest in infrastructure projects and address these pressing issues with all-out effort. In recent months, the Taiwan Semiconductor Manufacturing Co., referred to as “the sacred mountain” that protects Taiwan, has declared several investment plans in the US, Japan and Germany. These projects have raised global attention and it is worth noting that the German government reportedly will contribute up to €5 billion (P306 billion) to the European Semiconductor Manufacturing Company plant in Dresden, Germany, which will be 70-percent owned by TSMC, with German multinational engineering and technology company Bosch, German semiconductor manufacturer Infineon and Dutch semiconductor designer and manufacturer NXP each holding 10 percent equity stake. German public broadcaster Deutsche Welle reports that the reason TSMC chose Dresden to build the factory is most likely because of the cluster effect. Dresden is the capital city of the German state of Saxony where it has been the epicenter of chip production in Europe. It is reported that every third semiconductor made in Europe comes from Saxony. The region also benefits from the presence of prominent research institutes and universities to provide talents, such as Fraunhofer and Technical University Dresden, one of the foremost technical institutions in Germany. Simply put, while investment incentives are not something required for companies when they make decisions to invest in a certain country, it does play a significant role and the authorities have to consider how much they want to attract foreign investment and use these critical tools wisely. The post Rethink tax appeared first on Daily Tribune......»»
Salt maker request: Redeem our dying industry, amend ‘Asin’Law
A gourmet salt manufacturer in Albuquerque, Bohol is asking for the country’s lawmakers to amend Republic Act 8172, otherwise known as the Act for Salt Iodization Nationwide or ASIN Law, as the statute continues to kill their industry that has been operating in Albuquerque for more than a century now. In an interview, Nestor Manungas, proprietor of ASINAN ni Tan Inong, the maker of the unique Asin Tibuok, said RA 8172 has been hindering them to manufacture the condiment because the law mandates that salt produced in the country should contain iodine. “We cannot do that in our product because our way of producing Asin Tibuok is completely different from the normal way of making salt. We use direct heat, so minerals, like iodine, will definitely wear out or destroy the product,” he said. Signed into law by late-President Fidel V. Ramos in 1995, RA 8172 seeks to eliminate iodine deficiency disorders by mandating all salt producers and manufacturers to iodize their products. Ease of Doing Business Also, Manungas hit the Food and Drug Administration for being so sluggish in releasing approvals on their product, despite the presence of the Ease of Doing Business Law. “The US FDA is even better, we got it quickly. But here, we got them (FDA permit) more than two years ago. Although the Department of Trade and Industry helped us in the process, but it’s still too long. Other manufacturers have already given up on operating here because of bureaucratic hardships in acquiring business operation permits,” according to Manungas. Manungas’ Asin Tibuok, under the company Tan Inong Manufacturing Corporation, is currently making waves in terms of exports in various parts of the world, particularly in the United States, Europe, Australia, Japan and China. “This year we have a huge demand in Europe. Foreigners appreciate our salt as they find it totally different from Himalayan salt because it has a smoky flavor that they like in the taste of their food. But hopefully, we can sell on a large scale here in the country. I hope the business founded by our ancestors will not be dissolved,” he said. Stringent process Making Asin Tibuok, said to be on the brink of extinction, is not easy as it is very labor-intensive. Traditionally, Asin Tibuok making begins by soaking coconut husks for three months in saltwater coming from pools by the mangrove at the back of the manufacturing house of Manungas in Albuquerque. These husks will go through the burning process in a highly controlled manner. Subsequently, the ashes collected from the burnt are manually poured on large filters and more seawater will be poured through the ashes to make a very highly concentrated brine. After this, specially made clay pots are placed over a wood fire, and the concentrated brine is transferred continuously for eight hours into the boiling pots. Manungas and his assistants usually keep a close eye on evaporation so that the pots will not crack, resulting in a smoky sphere of salt that can weigh as much as one kilo. These pots of rocky salt are priced at P800. Business group support Since last year, the Philippine Chamber of Agriculture and Food Inc. has been urging lawmakers to amend Republic Act 8172 to revive the country’s salt production industry. Its president, Danilo Fausto said the country continues to import 93 percent of its salt requirement, even though the Philippines has the second longest shoreline in the world. “We have 36,000 kilometers of shoreline. It’s really embarrassing that we are importing salt from Australia and China, and some also in Thailand and New Zealand,” Fausto said. Fausto added the country in 2021 imported 646,000 metric tons of salt, which is being used as fertilizer for coconut trees. On the other hand, the Philippine Chamber of Commerce and Industry is also pushing for amendments to the Asin Law to help local manufacturers in the country, aside from other monumental reforms that would help micro, small, and medium enterprises to recoup from the ill effects of the pandemic and economic headwinds. But during his second State of the Nation Address, the proposed amendment for the ASIN Law was not included on the priority bills President Ferdinand Marcos Jr. requested for lawmakers of the House of Representatives to focus on. The post Salt maker request: Redeem our dying industry, amend ‘Asin’Law appeared first on Daily Tribune......»»