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PEZA cheers signing of PH-FTA deal as investment approvals increase 180% in September
Pasay City – Philippine Economic Zone Authority (PEZA) Director General Tereso O. Panga said on Thursday that it is optimistic to receive more investors from South Korea with the signing of the Philippines-South Korea Free Trade Agreement (FTA) on the sidelines of the 43rd Association of Southeast Asian Nations (ASEAN) Summit and Related Summits in Jakarta, Indonesia. According to President Ferdinand R. Marcos Jr., “The signing of the FTA is a testament to the realization of many opportunities for complementation and collaboration between the Philippines and South Korea, and an even greater milestone for our economic friendship.” Trade Secretary Alfredo Pascual also noted that “for the Philippines, this FTA serves as a clear demonstration of the intent to elevate the current bilateral relations with South Korea to a stronger strategic partnership. The Philippines’ engagement with South Korea is built on trade through market access, economic cooperation, and investments through collaboration in targeted sectors such as critical minerals and supply chains.” Echoing these, Panga stated that “With South Korea’s status as the 10th largest GDP in the world and 2nd most technologically advanced nation (next to Germany), the Philippines stands to benefit from this FTA which opens more opportunities for investors, increased market access, FDI inflows, higher value-added production and export diversification combined with deeper economic cooperation and innovation partnership.” PEZA is also seeing an influx of FDIs coming from South Korea for the year. Panga said, “We are seeing an increasing trend with more South Korean investments coming in the country. Last year, we have approved a total of Php 1.019 Billion investments from South Korean projects and for our performance this year, we already generated a total of Php 1.413 Billion investments from South Korea. We are looking forward to welcoming more investments from them, especially from industries unique to the country.” As of June 2023, PEZA has a total of 246 registered projects from South Korea which generate Php 92.190 Billion investments, US$ 736.454 Million exports, and 40,688 employments. The post PEZA cheers signing of PH-FTA deal as investment approvals increase 180% in September appeared first on Daily Tribune......»»
Joining innovation frontiers
The innovative energy throughout the Philippine startup ecosystem is pulsating strongly more than ever. Even startup scenes across the world are beginning to feel it. This month, I met with the Philippine Consulate General in San Francisco and the Philippine Trade & Investment Center in Silicon Valley as IPOPHL aims to explore collaboration opportunities in the Bay Area. Intellectual property or IP protection and registration in the Philippines were topics of particular interest. The presence of IPOPHL was an excellent opportunity to organize a forum to discuss the advantages of the Philippine IP regime for companies and startups. At the forum, I shed light on the thrilling progress of the Philippine startup ecosystem, driven by a vibrant, tech-savvy and educated young population, combined with strong government and private sector support. In 2022, the Philippines proudly ranked fifth among ASEAN member states in the Global Innovation Index and remained to be an innovation achiever, a testament to the innovative energy that courses through our veins despite limited resources. The country’s startups also accounted for nearly 4 percent of the total $15.8 billion in startup equity funding raised in Southeast Asia, highlighting our increasing significance on the regional stage. Remarkably, despite a worldwide investment downturn, our investment landscape expanded to a substantial 9 percent, proving our resilience and commitment to fostering entrepreneurship and innovation. According to the 2023 Global Startup Ecosystem Report, Manila alone has grown its startup ecosystem to $3.5 billion, rising 85 percent from the $2.1 billion reported in the 2022 GSER. But it’s not just Manila that is showing promise. Highly urbanized cities such as Naga, Iloilo, Cebu and Davao are also emerging as exciting startup destinations. However, we need to reach more innovation companies to help them protect their IP assets. Recently, the Philippine Institute for Development Studies assessed innovation activities of 11,500 firms based on their engagement and types of innovation pursued (product or process innovation). The study showed that, as of 2021, a third (33.6 percent) of firms were innovation active, with innovation practiced more among medium and large establishments than micro and small ones. Of the innovation-active firms, only a quarter filed for IP rights. But we hoped things to be different starting 2022. Last year, applications for patents — which indicates the appetite to bring possibly commercially viable inventions to market — booked the fastest growth among all types of IP as volumes expanded 9.3 percent to 4,403. In the first half of this year, IPOPHL saw registrations for innovation-focused types of IP expand as public and private support dedicated to foster innovation are in full swing. Preliminary data from IPOPHL show that patent and industrial design filings grew year-on-year almost every month during the January to June period while utility models have seen consistent growth every month, positioning 2023 as a year for innovation. The expanded appetite for innovation may be attributed to the host of policies to streamline government processes, harmonize resources and support strategic innovation investments, such as through the passage of the Innovative Startup Act, Philippine Innovation Act, Ease of Doing Business Act, Foreign Investments Act, and CREATE Law. For its part, IPOPHL’s initiatives for startups such as IPOPHL’s Juan and Juana projects, Innovation and Technology Support Office, IPOPHL-Asian Institute of Management-Dado Banatao Incubator, free capacity building activities, were presented at the meeting with PCG-SF and the PTIC-SV. Trade Commissioner at the Philippine Consulate General May Nina Celynne Layug expressed interest in further discussing IPOPHL’s initiatives in the future and how PTIC-SV and IPOPHL can work together, especially in marketing the country to potential startup locators. These further collaborations could in the future make the Philippines among the innovation frontiers as ranked by the Global Innovation Index. In the next GII, to be released this September, we’re optimistic the country will be taking a few giant steps towards that goal. The post Joining innovation frontiers appeared first on Daily Tribune......»»
DTI meets Germany’s ZVEI, explores opportunities in manufacturing services outsourcing
On 3 July 2023, DTI Secretary Fred Pascual, together with Board of Investments Managing Head Ceferino Rodolfo, and Semiconductor and Electronics Industries in the Philippines Foundation, Inc. president Dr. Dan Lachica, met with Dr. Gunther Kegel, president of the German Electronics and Digital Industry Association (German: Verband der Elektro- und Digitalindustrie or ZVEI) and CEO of Pepperl+Fuchs. During the meeting, they discussed the possible outsourcing collaboration in the field of electronics manufacturing between ZVEI, SEIPI and the Philippine government in creating Original Design Manufacturer, Original Equipment Manufacturer and electronics manufacturing outsourcing opportunities in the Philippines. This is in light of the continuing challenges of the lack of skilled labor, the rising cost of production and the diversification and de-risking aspirations in Germany. ZVEI is one of the most important industrial associations in Germany, representing the interests of a high-tech sector covering over 1,100-member companies. They employ around 90 percent of the employees and staff of the electrical industry in Germany. Its members include global players and medium-sized and family-owned companies. The sector also has 879,000 employees in Germany with a combined turnover in 2021 of approximately EUR 200 billion. Meanwhile, Pepperl+Fuchs, a member of ZVEI, is a Tier I automotive supplier involved in electrical explosion protection and sensor technologies. The company’s Factory Automation Division is a manufacturer of industrial sensors. It makes a range of inductive, capacitive, photoelectric and ultrasonic sensors, identification systems, barcode and camera systems, rotary encoders, position measurement systems, cord sets and other accessories. Pepperl+Fuchs employed over 6,000 in 2022 with revenues amounting to EUR 1 billion. In the meeting, Pascual emphasized the huge potential of the Philippines to create an enabling business environment for a manufacturing industry given its strategic location that covers the ASEAN market and nearby countries. The post DTI meets Germany’s ZVEI, explores opportunities in manufacturing services outsourcing appeared first on Daily Tribune......»»
ACEN acquires Viet solar giant
Ayala Corp. energy unit ACEN completed the first phase of the acquisition of Super Energy’s Vietnam solar platform. ACEN said it will acquire 49 percent of the platform, which has 837 megawatts or MW of solar assets in Vietnam. The acquisition will be completed in four phases, with the first phase adding 141 MW of attributable capacity. This four-phased acquisition will bring ACEN’s renewables portfolio in Vietnam Lao PDR to 1,200 MW of attributable capacity. A strategic partnership has the potential for expansion of renewable energy developments across ASEAN 26 June 2023. Through its subsidiary, ACEN Vietnam Investments Pte. Ltd., the company signed the shareholders’ agreement and other definitive agreements for the closing of the acquisition of Super Energy Corporation Public Company Limited’s solar power business in Vietnam. Share purchase deal The strategic partnership follows the share purchase agreement signed by the two companies in 2022. SUPER currently owns and operates 837 MW of solar projects in Vietnam through Solar NT; ACEN will take up 49 percent ownership of Solar NT through a phased acquisition. Closing of the first phase of the transaction has just been completed, while the remaining phases are expected to be completed within the year, with a total consideration estimated at $165 million. Patrice Clausse, CEO of ACEN International, said: “The partnership with SUPER marks the beginning of a long-term collaboration as we will continue to look for new opportunities to grow our portfolio and jointly develop renewable energy projects across ASEAN.” ACEN and SUPER share the same belief about a sustainable future, and their combined strengths and extensive experience in renewable energy development will unlock new opportunities to grow the strategic partnership’s portfolio, create jobs and accelerate the energy transition. “This synergy will enhance SUPER’s growth potential and strengthen the renewable energy business structure, which will support our strategic partnership in many areas, including capital, personnel, technology, and networks for additional investment opportunities in the future,” Jormsup Lochaya, chairman and CEO of SUPER, said. This total strategic investment will bring ACEN’s Vietnam-Lao PDR portfolio to approximately 1,200 megawatts MW in attributable renewables capacity, further solidifying its position as a leading renewable energy player in Southeast Asia. The post ACEN acquires Viet solar giant appeared first on Daily Tribune......»»
Back ‘nano businesses’, Marcos tells Asean
President Ferdinand Marcos Jr. on Wednesday urged the Association of Southeast Asian Nations member states and the region's business community to back "nano businesses", as they contribute to the region’s overall economic growth and narrows the development gap. Marcos made the call during the ASEAN Leaders' Interface with Representatives of the Association of Southeast Asian Nations-Business Advisory Council. Nano businesses are currently an informal and unacknowledged business category. “These nano businesses are also described as ‘solopreneurs’ and they are home-based businesses, among whom are make-up artists, vulcanizers, independent dispatch riders, vendors, repairers and market women and men in the various open markets,” Marcos told the ASEAN-BAC gathering. “They play a very important but often unrecognized role all across our countries. But by classification, they often do not meet the MSME (micro, small and medium enterprise) micro-business criteria, which is the category for the smallest businesses. They are largely unaccounted for, but these informal business settings constitute a large portion of all our economies,” he added. ASEAN Business Advisory Council chair Mohammad Arsjad Rasjid Prabu Mangkuningrat supported Marcos’ call to recognize and support nano businesses. Mangkuningrat is also the Chairman of the Indonesian Chamber of Commerce and Industry. The ASEAN has kept its position as the fifth largest economy in the world in 2021 with US$3.3 trillion of combined gross domestic product among the 10 ASEAN member states. Intra-ASEAN trade continues to hold the largest share of ASEAN total trade, contributing 21.3 percent to total merchandise trade in the region in 2021, constituting 21.7 percent and 20.9 percent shares of ASEAN’s total merchandise exports, respectively. The post Back ‘nano businesses’, Marcos tells Asean appeared first on Daily Tribune......»»
Dingdong may bagong na-achieve bilang sundalo ng Philippine Navy
IBINANDERA ng Kapuso Primetime King at Box-Office King na si Dingdong Dantes ang pinaka-latest achievement na kanyang nakamit. Matapos sumabak sa isang matinding military training para sa pagiging reservist ng Philippine Navy, isa na rin siya ngayong certified naval combat engineering officer. Baka Bet Mo: Sharon ipinakilala ang isa pang ‘anak’ sa US: Napakaguwapo, iyan.....»»
Coast Guard ship Samudra Paheredar on overseas deployment to ASEAN, arrives im Phillipines
Manila [Philippines], March 25 (ANI): India Coast Guard ship Samudra Paheredar, a specialized Pollution Control Vessel, reached Manila, Philippines on Monday, marking the commencement of its (overseas deployment) OSD mission to Association of Southeast Asian Nation (ASEAN) countries. ASEAN countries includes Brunei Darussalam, Burma, Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand, and Vietnam, " acc.....»»
Coast Guard ship Samudra Paheredar on overseas deployment to ASEAN nations, arrives in Philippines
Manila [Philippines], March 25 (ANI): India Coast Guard ship Samudra Paheredar, a specialized Pollution Control Vessel, reached Manila, Philippines on Monday, marking the commencement of its (overseas deployment) OSD mission to Association of Southeast Asian Nation (ASEAN) countries. ASEAN countries includes Brunei Darussalam, Burma, Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand, and Vietnam, " acc.....»»
China blocks Philippine supply run in disputed waters (VIDEO)
Manilla and Beijing have traded accusations over a naval incident near the Spratly Islands Chinese patrol boats used water cannons on Saturday to disrupt an attempt by the Philippine military to deliver supplies to a reef in a disputed part of the South China Sea, where the Philippine Navy intentionally grounded a tan.....»»
China blocks Philippine military supply boat in disputed waters (VIDEO)
Manilla and Beijing have traded accusations over a naval incident near the Spratly Islands Chinese patrol boats used water cannons on Saturday to disrupt an attempt by the Philippine military to deliver supplies to a reef in a disputed part of the South China Sea, where the Philippine Navy intentionally grounded a tan.....»»
China blocks Philippine supply run in disputed waters
Manilla and Beijing have traded accusations over a naval incident near the Spratly IslandsChinese patrol boats used water cannons on Saturday to disrupt an attempt by the Philippine military to deliver supplies to a reef in a disputed part of the South China Sea, where the Philippine Navy intentionally grounded a tank landing ship over two decades ago.The incident occurred near the Second.....»»
China blocks Philippine military supply boat in disputed waters
Manilla and Beijing have traded accusations over a naval incident near the Spratly IslandsChinese patrol boats used water cannons on Saturday to disrupt an attempt by the Philippine military to deliver supplies to a reef in a disputed part of the South China Sea, where the Philippine Navy intentionally grounded a tank landing ship over two decades ago.The incident occurred near the Second.....»»
EAM Jaishankar discusses security, maritime cooperation with his Philippine counterpart in Manila
Manila [Philippines], March 26 (ANI): External Affairs Minister S Jaishankar, who is on an official visit to Manila, held a 'warm and productive' meeting with Philippines Secretary for Foreign Affairs, Enrique Manalo on Tuesday and discussed wide-ranging issues of security and maritime cooperation. During the meeting, both leaders exchanged views on global, regional, and multilateral issues, including Indo-Pacific, ASEAN,.....»»
Indian Coast Guard ship docks at Manila port amid tensions in South China Sea
Manila [Philippines], March 26 (ANI): Amid tensions in the South China Sea, the Indian Coast Guard ship, Samudra Paheredar docked at the Manila Bay in the Philippines as part of a broader initiative aimed at demonstrating ICG Marine Pollution Response capabilities, the Ministry of Defence (MoD) said in an official release on Tuesday. The ICG ship which arrived at the port on Monday, is on an overseas deployment to ASEAN c.....»»
Major Dingdong Dantes finishes Naval Combat Engineering Officer basic course
Actor Dingdong Dantes is now a Naval Combat Engineering Officer of the Philippine Navy after receiving a certificate for finishing a basic course......»»
Coast Guard ship Samudra Paheredar on overseas deployment to ASEAN, arrives im Phillipines
Manila [Philippines], March 25 (ANI): India Coast Guard ship Samudra Paheredar, a specialized Pollution Control Vessel, reached Manila, Philippines on Monday, marking the commencement of its (overseas deployment) OSD mission to Association of Southeast Asian Nation (ASEAN) countries. ASEAN countries includes Brunei Darussalam, Burma, Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand, and Vietnam, " acc.....»»
Coast Guard ship Samudra Paheredar on overseas deployment to ASEAN nations, arrives in Philippines
Manila [Philippines], March 25 (ANI): India Coast Guard ship Samudra Paheredar, a specialized Pollution Control Vessel, reached Manila, Philippines on Monday, marking the commencement of its (overseas deployment) OSD mission to Association of Southeast Asian Nation (ASEAN) countries. ASEAN countries includes Brunei Darussalam, Burma, Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand, and Vietnam, " acc.....»»
China blocks Philippine supply run in disputed waters (VIDEO)
Manilla and Beijing have traded accusations over a naval incident near the Spratly Islands Chinese patrol boats used water cannons on Saturday to disrupt an attempt by the Philippine military to deliver supplies to a reef in a disputed part of the South China Sea, where the Philippine Navy intentionally grounded a tan.....»»
China blocks Philippine military supply boat in disputed waters (VIDEO)
Manilla and Beijing have traded accusations over a naval incident near the Spratly Islands Chinese patrol boats used water cannons on Saturday to disrupt an attempt by the Philippine military to deliver supplies to a reef in a disputed part of the South China Sea, where the Philippine Navy intentionally grounded a tan.....»»
China blocks Philippine supply run in disputed waters
Manilla and Beijing have traded accusations over a naval incident near the Spratly IslandsChinese patrol boats used water cannons on Saturday to disrupt an attempt by the Philippine military to deliver supplies to a reef in a disputed part of the South China Sea, where the Philippine Navy intentionally grounded a tank landing ship over two decades ago.The incident occurred near the Second.....»»