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......»»
ASEAN network hails Go Negosyo gains
Members of the Association of Southeast Asian Nations Mentorship for Entrepreneurs network or AMEN gave Go Negosyo founder and chairperson Joey Concepcion a pat on the back for the efficient delivery of the movement’s targeted outputs focused on mentoring micro, small and medium enterprises or MSMEs. AMEN is the legacy project during the term of the Philippines as chair of the ASEAN-Business Advisory Council in 2017 under Concepcion. He expressed his delight that other nations are now benefiting from mentorship adding that “access to mentorship is critical to an entrepreneur’s success and with AMEN, we are able to share this with the rest of ASEAN.” “MSMEs comprise the majority of the businesses in the Philippines, and this is almost the same for our neighboring countries. Nano, micro, and small entrepreneurs are the most in need and we will continue to make sure that this legacy project will continue,” he added. Human capital dev’t promoted Legacy projects incorporate private-public partnerships to promote human capital development and entrepreneurship in the region, with each country initiating its own legacy project during its chairmanship of the private sector advisory body of the ASEAN. The feedback from the region on the AMEN report comes as its Joint Coordinating Committee convened its second meeting during the 15th ASEAN Coordinating Committee on Micro Small and Medium Enterprise Meeting last 22 to 26 May in Bangkok, Thailand. MSMEs comprise the majority of the businesses in the Philippines, and this is almost the same for our neighboring countries. Nano, micro and small entrepreneurs are the most in need and we will continue to make sure that this legacy project will continue. Last 23 May, the Project Management Office led by Project executive director, Engr. Merly Cruz, presented the achievements and milestones of the AMEN Project Phase 2 thus far together with the challenges encountered, lessons learned, and recommendations put forward by the project stakeholders. AMEN’s Phase 2 is near completion after having been rolled out in February 2023, which involves the regional rollout of the project after having been successfully piloted in Malaysia, Indonesia and the Philippines. The AMEN Project Phase 2 is implemented by the ASEAN-BAC Business Advisory Council, together with the ASEAN Secretariat and the Government of Japan through the Japan-ASEAN Integration Fund. AMEN is a modules-based training program facilitated by accredited mentors. Go Negosyo originated the blueprint for AMEN, and patterned it after its Kapatid Mentor Micro-Enterprises Program, which runs in partnership with the country’s Department of Trade and Industry. The KMME program has been implemented in the Philippines since 2016 and has since produced more than 13,000 graduates. The post ASEAN network hails Go Negosyo gains 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......»»
Marcos tells Filipinos to serve others during Holy Week
President Ferdinand Marcos Jr.'s message to Filipinos during Holy Week encourages tham to "serve others.".....»»
Marcos to exhaust legal remedies to bring Teves back to Philippines
President Ferdinand Marcos Jr. assured the Filipino public that his administration will do every thing to bring expelled Negros Oriental 3rd District lawmaker and designated "terrorist" Arnolfo Teves Jr. back to the Philippines......»»
From the Newsrooms: March 10 to 16, 2024
THE STATE of the ruling alliance has taken back the news spotlight as the President and his predecessor engaged in yet another sharp exchange, suggesting that all is not well in Team Unity. The depth of hostility between the two remains the subject of public speculation.The media this week reported yet another back-and-forth between President Ferdinand Marcos Jr. and the former president, Rodrigo Duterte. The ex.....»»
ICC can t probe Philippines drug war, Marcos tells Germany s Scholz
MANILA, The Philippines: This week, Philippine President Ferdinand Marcos Jr. told German Chancellor Olaf Scholz the International Criminal Court (ICC) has no authority to probe the bloody war against drugs conducted by his predecessor. Marcos discussed the Hague-based ICC's probe during a bilateral meeting with Scholz while visiting Germany. Former President Rodrigo Duterte officially withdrew from the i.....»»
San Miguel income soars to P44.7 billion in 2023
Diversified conglomerate San Miguel Corp. expects to sustain its growth momentum this year after earnings soared in 2023 on the back of significant volume growth across its key businesses......»»
January Promo Ideas for Your Business
As January presents a fresh start for everyone, entrepreneurs are also allowed to revitalize their businesses and captivate their audience who are still synchronizing themselves back with the real world after a lengthy holiday vacation. This is the time when businesses can leverage innovative promotion ideas to kickstart the year with a bang. Let’s explore […].....»»
Get Your Customers Coming Back with Loyalty Programs
One of the factors that make a business successful is the ability to retain customers. It is a gratification in physical form that says your product or service is of quality since customers are constantly coming back for more. However, a lot of businesses are still figuring out how to retain customers, or in Filipino […].....»»
Valderrama: A year after
Valderrama: A year after Anniversaries hold a special place in our lives, marking significant moments in our relationships and businesses. But what about a death anniversary? Does the pain still linger? Is it the same pain? Can we find healing by letting go? Recently, we commemorated the death anniversary of my brother Joel. Last year, my columns were filled with his memory and the pain of losing a loved one. Unexpected deaths are truly tragic. They shatter our dreams of a future with that person and leave us heartbroken, unprepared. They say the pain of losing someone stays with us forever, but life goes on. We can empower ourselves by carrying their memories and cherishing them, leading to a more fulfilling life. Grieving is a natural response to loss, something we cannot avoid when we are hurting. But as we remember the beautiful moments we shared with our departed loved ones, shouldn't we remember them with a smile? I often think back to how my brother would call me late in the evening, surprising me with his caring words. His advice to explore, to not confine myself to one place, and to allow myself to grow still resonates with me. But along with these memories, regrets start to surface. The wh.....»»
China Bank profit hits P16.2 billion in 9 months
China Banking Corp. grew its earnings by 10.2 percent to P16.2 billion from January to September versus last year’s P14.7 billion on the back of robust growth from core businesses and lower loan loss provisions......»»
Steps gaining exporter status under RCEP outlined
Exporters wishing to avail themselves of preferential tariffs under the Regional Comprehensive Economic Partnership can apply with the Bureau of Customs to become an approved exporter, according to a customs official. Gina German, head of the Preferential Rate Unit of the BoC Port of Manila, is encouraging Filipino exporters to start leveraging the RCEP’s benefits, foremost of which is being allowed to source materials and products from the 14 other member parties of the mega free trade agreement at lower duty rates. Study and comply German also urged companies to study and comply with the RCEP’s rules of origin (ROO), a requirement to get preferential tariff treatment under the world’s biggest trade deal. Essentially, the ROO can be regarded as a passport for products, a way to determine the country of origin of a product and establish its eligibility for preferential tariff treatment. It can help businesses reduce costs and boost their competitiveness within the regional market. Under RCEP, originating goods are those falling under three categories: wholly obtained in the RCEP party or member state of the agreement; those produced in a party exclusively from originating materials from one or more of the parties; and those produced in a party using non-originating materials, provided the good satisfies the applicable requirements set out in Annex 3A (Product-Specific Rules). Documentary requirements German said applicants seeking “approved exporter” status under RCEP should submit the following documentary requirements: • Duly accomplished application form • BoC’s Certificate of Registration • Product Evaluation Report or PER, if applicable Meanwhile, traders applying for approved exporter status, should submit a producer’s declaration indicating the originating status of the good for which the trader will be completing a declaration of origin and stating the producer’s readiness to cooperate in verification. “If you are a trader, you need to know who produces the good or you still have a declaration that it is originating in the Philippines so that you will be ready during the retro verification or verification of the importing country,” said German during her talk last month at a Department of Trade and Industry webinar. In addition applicants have to submit a list of the authorized signatories of the DO and their respective specimen signatures. The application form should be submitted in both hard copy and electronic Portable Document Format to the deputy commissioner of the Assessment and Operations Coordinating Group through the Customer Care Center or CCC. The Export Coordination Division or ECD will then evaluate the application based on the following criteria: Exporter is a legitimate exporter who must have been transacting with the BOC for at least one year prior to the date of application Exporter must have been exporting products to at least one RCEP party for at least one year • Exporter must have good compliance measured by risk management of the BOC • Exporter must have a sound bookkeeping and recordkeeping system • Exporter must have responsible officers or persons authorized to sign the DO, who must have sufficient knowledge, competence in ROO application • Exporter must be willing to be subjected to regular monitoring and inspection to determine correctness of its declaration with respect to the goods exported. Written authorization After evaluation the ECD will grant the status of approved exporter to the successful applicants by issuing a written authorization with its corresponding authorization code within 14 working days. From there, the BOC will input the details of the approved exporter in its Approved Exporter Database for circulation among the RCEP parties. RCEP came into effect officially for the Philippines on June 2, 2023 after the Senate finally ratified the agreement in February this year. The Philippines was the last country to ratify RCEP, a free trade pact among the 10 members of the Association of Southeast Asian Nations — Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam — and the five ASEAN FTA partners Australia, China, Japan, South Korea, and New Zealand. The post Steps gaining exporter status under RCEP outlined appeared first on Daily Tribune......»»
Robinsons retail unit posts profit rise
Listed Gokongwei group’s Robinsons Retail Holdings Inc. proved its resilience in the first nine months as it reported a core profit of P3.8 billion, up 4 percent. Net sales during the period were at P138.2 billion, which rose by 8.7 percent year-on-year. The company was able to generate growth in net sales and core net earnings despite the impact of inflation on consumption and a challenging base last year which benefited from economic reopening and election-related spending. Core net earnings exclude foreign exchange gains and losses, interest income from bonds, equity in earnings from associates, interest expense related to the Bank of Philippine Islands acquisition financing, BPI cash dividends, and others. The growth in net sales was supported by blended same store sales growth of five percent and store expansions. The core businesses supermarkets and drugstores were the main revenue growth drivers in the first nine months. These two segments accounted for almost 75 percent of Robinsons Retail’s revenues for the period. Meanwhile, a bright spot in the discretionary portfolio was the department store segment, which was able to deliver double-digit topline growth due to back-to-school and continued out-of-home activities. The company’s consolidated gross profit continued to grow faster than revenues, increasing by 9.4 percent year-on-year to P32.9 billion in the first nine months. This was enabled by improvements in category mix and higher penetration of private label brands. Meanwhile, operating income grew by 3.7 percent year-on-year to P6.1 billion. Net income attributable to equity holders of the parent company fell by 41.4 percent year-on-year to P2.6 billion until September. The decline in net income to parent was weighed by equitized losses from minority startup investments which continue to ramp up, the derecognition of Robinsons Bank’s net income under equitized earnings following the ongoing merger with the Bank of the Philippine Islands, interest expense from the acquisition financing of the BPI shares that were purchased earlier this year, and the absence of cash dividends from BPI in the third quarter of 2023. Dividends set BPI has historically paid dividends in the second and fourth quarters of each year. The expected cash dividends from BPI in the fourth quarter should fully cover for the acquisition related financing interest expense for the purchase of the BPI shares. “Our defensible business model has enabled us to continue growing and remain relevant among Filipino consumers. This is notwithstanding near-term macroeconomic challenges, particularly the impact of inflation on consumer sentiment. These headwinds are temporary, in our view, and we thus remain positive on the long-term potential of the domestic retail industry given the Philippines’ attractive demographics. We will continue to invest with a long-term view and in a sustainable manner — core strategies that we firmly believe will translate to greater stakeholder value,” Robina Gokongwei-Pe, president and CEO of Robinsons Retail Holdings Inc., said. The post Robinsons retail unit posts profit rise appeared first on Daily Tribune......»»
Christiane Benner, first woman to lead Germany’s biggest union
Christiane Benner will become the first woman to lead Germany's biggest union when she takes the helm at IG Metall next week. But the milestone comes as the once mighty industrial sector battles a series of crises. Soaring energy costs due to Russia's war in Ukraine, high inflation, and weaker demand from key trade partner China have culminated in a manufacturing slump that has raised fears about Germany's future as an industrial powerhouse and export champion. Benner's appointment is set to be confirmed at an IG Metall congress on Monday. As she prepares to go to bat for IG Metall's more than two million members in sectors including the automotive, machine tool, and electrical industries, Benner is clear about her priorities. "The most important thing is keeping industry in Germany and Europe," she told AFP in an interview in her Frankfurt office. Asked why it took so long for IG Metall, founded in 1949, to install a woman at the top, Benner chuckled. "Ask the men!" smiled the bespectacled 55-year-old. Benner has been a member of IG Metall since her early 20s after starting work as a foreign-language secretary at a mechanical engineering firm. After taking time out to study sociology, she rose through the ranks at IG Metall and became the union's vice president in 2015. Eighty percent of IG Metall's members are men. Deindustrialization fears A work and study stint in the United States in the 1990s opened her eyes to the "weakness" of American unions, Benner recalled. The contrast with Germany was stark, where the model of co-determination gives labor representatives a significant say in workplace decisions. As Germany's most powerful trade union and the largest in Europe, Benner is well aware of IG Metall's influence. "We're strong," she said. IG Metall flexed its muscles last year and won an 8.5-percent wage increase over two years to help compensate for inflation, a benchmark deal covering around four million workers across several sectors. Even more daunting challenges lie ahead, as Germany's long-vaunted economic model is called into question and an end-of-year recession looms. Companies in Germany's energy-intensive industries are already weighing whether to shift production to cheaper shores, a problem compounded by the lure of US green subsidies through Washington's Inflation Reduction Act, Benner said. "We're seeing a creeping dismantling of industry and jobs," she warned. To prevent a dreaded "deindustrialization" of Europe's biggest economy, Benner is in favor of discounted electricity prices for industrial firms. The proposed subsidy has been a topic of fierce debate within Germany's coalition government in recent months. But Chancellor Olaf Scholz, who like Benner is a member of the center-left Social Democrats, has yet to back the idea, fearing it could slow the transition towards renewable energies. Retaining talent Adding to Germany's woes are long-running structural problems such as a shortage of skilled workers in an aging country, and foot-dragging on digitization. More than 2.6 million young adults in Germany under the age of 35 have no vocational qualification, despite a growing need for highly qualified employees as new technologies transform businesses. IG Metall was working hard to increase the number of apprenticeships and make on-the-job training more attractive, Benner said. Hoping to make heavy industry a more appealing career choice, Benner also advocates a better work-life balance and supports a four-day workweek for those who want it. She also wants to narrow the gender pay gap in a country where men still earn seven percent more than women doing the same job. But first up on her to-do list will be next month's wage negotiations with steel bosses. Benner will be pushing for a similar 8.5-percent salary bump for the sector and a reduction in working hours from 35 to 32 hours a week, without loss of pay. The post Christiane Benner, first woman to lead Germany’s biggest union appeared first on Daily Tribune......»»
Phl economy still strongest this year — RCBC
The Philippine economy will remain among Asia’s strongest in the fourth quarter despite a possible higher interest rate because of strong consumer demand for certain products and services and more employed Filipinos, the chief economist of Rizal Commercial Banking Corporation said Saturday. “This growth forecast is still among the fastest in the region because our economy is doing well,” RCBC’s Michael Ricafort said. The World Bank recently downgraded this year’s Philippine economic growth to 5.6 percent from 6 percent due to inflation risks, apart from lower government spending and weaker demand for exports. However, it is still higher than China’s 5.1 percent, Indonesia’s 4.9 percent, and Malaysia’s 4.3 percent growth forecast. Ricafort said the Bangko Sentral ng Pilipinas (BSP) might raise its policy rate this year to slow inflation to 4 percent by year-end after it accelerated again to 6.1 percent last month. “The BSP is working to bring down prices of goods and services. As an unintended consequence, the economy could slow down. Borrowing costs for business owners also increase and consumer demand weakens,” he said. Ricafort said global oil prices have started falling which could discourage the central bank from raising its rate drastically. “Global oil prices have declined to $82 to $83 per barrel from a peak of $95 per barrel last month or since the war between oil-rich countries Russia and Ukraine began,” the economist said. He also expected a downtrend in rice prices starting this month as he said local farmers have begun collecting fresh harvests. “Inflation quickened last month mainly from higher prices of rice which accounted for nearly 9 percent of the inflation basket and grew 17 percent year-on-year,” Ricafort said. While a higher interest rate aims to slow consumption, Ricafort said the continued flow of remittances from overseas Filipino workers, or at least 3 percent growth yearly will still support substantial levels of consumer spending, especially during the Christmas season. “That is more than $40 billion a year. That’s the fourth largest in the world after India, China and Mexico,” the economist said. He added more Filipinos or 800,000 could earn from business process outsourcing or BPO this year as the industry’s revenue could rise from $32.5 billion to $59 billion based on data from the Contact Center Association of the Philippines. Another growth area is tourism, which Ricafort said saw 4 million foreign visitors last month, nearing the 4.8 million full-year target of the government. He added higher productivity among Filipinos is also expected as the country’s unemployment rate declined to 4.4 percent in August from 4.8 percent in July, based on data from the Philippine Statistics Authority. Moving forward, Ricafort said the government must improve science and technology education for higher quality jobs and increase spending on infrastructure amid the full reopening of most economies. “We are now fully reopened. Students are also back in schools which encourages putting up food businesses. Labor market in the US also improved which will affect export trade,” he said. Ricafort added the government could continue distributing financial and other assistance to farmers to control inflation. He believed the inflation rate will approach 3 percent next year, close to the ideal 2 percent for healthier economic growth. The post Phl economy still strongest this year — RCBC appeared first on Daily Tribune......»»
Lester Pimentel Ong: The ‘Iron Heart’ director is also a restaurateur
When action films came to a screeching halt around year 2000 because of piracy, then stuntman Lester Pimentel Ong bravely ventured into the food business. For him, it was like wading into untested waters. “Nagsimula ako sa (I started in) Rice-In-A box 23 years ago. I started in the film industry as a stuntman. Nakatrabaho ko si Victor Neri, sa mga films ni direk Toto Natividad. Nawala ‘yung raket namin sa stunts kasi nauso ‘yung piracy sa film. Humina ‘yung action film so wala kaming raket. (I worked with Victor Neri, in the films of director Toto Natividad. We lost our stunt jobs because film piracy became prevalent. Action films slowed down, so we didn’t have a job). With his P80,000 savings, he started his rice-in-a-box business at Masagana City Mall, in Pasay, recalled Ong during the opening of the ninth branch of Wangfu, his Chinese-Singaporean restaurant that’s been up for 11 years now. That small rice-in-a-box business now has more than 100 stores consisting of food carts and food stalls. “That business financed all of our other businesses, all our other restaurants,” said Ong proudly. A foodie, Ong was exposed to street food when he was a wushu athlete who represented the country in many competitions abroad. He reveled in the street foods of China, Hong Kong, Taiwan, Singapore and Thailand. “I would go around to different places and tuwing may break kami, we would explore the street food market ng different countries. I fell in love with different kind of food, Asian food,” he said. Wangfu came about because, after shoots, “kapag late night, wala kaming makakainan. Nasa food business naman ako, so nagtayo kami ng restaurant sa Tomas Morato. Iyon ang first branch (of Wangfu),” he said. He was joined in the venture by business partner Ace Wang. Wangfu serves Singaporean cuisine like laksa, Hainanese chicken and salted egg fried chicken. From Sir Chief to Sir Chef Actor Richard Yap is also one of Ong’s partners in Wangfu. Yap disclosed that when he was young, he “used to cook at home because my mom cooks very well.” It was his love for food that drove him to study culinary arts. But he discovered along the way that cooking was not for him. “When I took up a culinary course, I found out na hindi pala para sa akin ang pagluluto (that cooking is not for me). Ang hirap ng preparations. It takes a long time. Kung ako ang magluluto (If I will do the cooking), it will take three to four hours if you do it by yourself,” he said. In college, Yap took up a pre-Med course, Medical Technology, for two years, and then stopped because his father asked him to take up Business Management instead. When he applied for Med studies at UST, he was told that he had to go back to first year again. “I said never mind. I’ll just finish my Business Management course at La Salle,” he recalled. Getting into showbiz 12 years ago was something that Yap didn’t see coming. “When I started out with “My Binondo Girl”, after that nagdadalawang isip ako (I had second thoughts). So, I had to ask around. One of my directors, direk Jeffrey Jeturian, said, ‘You know, you have to make a choice kasi it’s either you go full-time sa showbiz or not.’” Yap’s apprehensions were not without basis, since not a lot of people would make it at his age then, around 40. “Ako, sabi ko, late na ako (I’m late), wala pa akong experience. It would take me a lot of time to catch up with veteran actors and actresses,” he said. Fortunately, those around him told him he had a future in showbiz for as long as he persevered. And that he did — and now he’s Richard Yap, a popular actor and household name, forever remembered by many as Sir Chief of the blockbuster TV series Be Careful With My Heart. The post Lester Pimentel Ong: The ‘Iron Heart’ director is also a restaurateur appeared first on Daily Tribune......»»
IT-BPM seen key economic driver
The head of the Information Technology and Business Process Association of the Philippines or IBPAP, Jack Madrid maintained that the Informatiorn Technology-Business Process Management, or IT-BPM, sector will remain the Philippine economy’s essential pillar, given its large contribution to the government coffers for its nation-building. “This is an important message that we always communicate to our partners in the government and to our employees and to their families. What we do is more than what people think as we are not just call center or contact center work.” “The nature of what we do range from basic customer service to more complex industries such as healthcare, engineering, IT software development, and even creative industries such as animation and game development, “Madrid said in an interview with the DAILY TRIBUNE’s online digital show ‘Straight Talk’. “We do not just do call center work and I think we need to respect the kind of work that we do even more than before, more than what people think it is,” continued Madrid., Export service revenues Madrid said in terms of export service revenues, the IT-BPM sector this year earned a growth rate of 8.8 percent, which translates to an estimated $35.4 billion in revenue, exceeding the global industry’s 7.7 percent average. “We started 2023 with 1.7 million direct jobs for Filipinos, while by revenue, in 2022 the industry generated $32.5 million, the second largest source of foreign exchange to the country, next to OFW remittances. But we are almost at par with them,” he said. “This year, we will grow over $35 million in revenues,” according to Madrid, coming from close to 2,000 IT-BPM firms that are operating in the country. US biggest client GHe said the United States remains the Philippines’ biggest client, in which over two-thirds of businesses come from US companies, serving US customers. “That is why as the flagship association, we oversee all the different industry verticals. But you will be amazed at the number of multinational companies that have been doing very successful shared services operations here in the Philippines. You name the multinational, they are here whether it is in banking, financial services, or healthcare. Even energy. They are all here,” he said. According to Madrid, healthcare companies doing business in the country are at 15 to 20 percent, while the creative side has the smallest workforce, but is considered a sector that has large potential. “The creative side will be quite a bit smaller than that in terms of number of employees but it’s still a sector that has large potential. I think another significant sector would be the global in-house centers. These are all the multinationals who have moved their back-office operations here. Hard to classify by industry because they belong to many different industries. And then, of course, the contact center sector is still the biggest one. About 60 percent of our employees are in the contact center sector and that includes many multinational and global BPO companies who have set up operations here,” Madrid explained. Caring for employees As contact center employees work at odd times, Madrid said the mental well-being of their employees is very important to the industry, which goes along with their aim to make the industry continue growing. “I’m happy that our membership and our industry players are paying a much stronger focus on the mental health and well-being of the employees. Our industry relies primarily on human capital. This is very much a people’s industry. It is the bedrock of how our industry has grown. So, this topic is very important. I think it’s all about balance. I think balancing the demands of work and personal life is very important and nowhere was this more evident than the challenging years of the pandemic, wherein we had to mobilize our employees from working in the office to a work-from-home setup. Something that was not done before,” he said. Madrid said working from home is not as easy for Filipinos as it is for the rest of the world, as Filipinos don’t typically have a home office, unlike Americans and Europeans. Challenging transition “So, the transition for us was quite challenging. Many of our employees don’t have very big homes with an extra room to be used as an office. So, I think I spent a lot of time describing this to investors and locators because it demonstrates the agility, resilience, and survival instinct of the Filipino people,” he said. “And I think we have shown to the world that we were able to perform the work in those challenging years of Covid without any impact on productivity or customer satisfaction. We were able to perform the work so much that there was even more demand from our customers for more jobs to be done here in the Philippines,” he continued. Madrid said that during the pandemic, the ITBPM industry grew as an industry to 255,000 new jobs and will continue to grow. The Philippines is a clear number in terms of ITBPM, next to India, but the Philippines is the number one nation when it comes to delivering customer experience, according to Madrid. The post IT-BPM seen key economic driver appeared first on Daily Tribune......»»
Aviation decarbonization needs gov’t backing
The aviation sector, poised to become a major economic growth driver, is one of the main contributors to global carbon emissions. Industry players are, thus, rushing to decarbonize their operations by using sustainable aviation fuel or SAF. However, Cebu Pacific Chief Strategy Officer Alex Reyes argued that the initiative needs government support before it can fully take off. For instance, he said government partners could "put in the proper incentives so that more capital flows into this vital industry." “There needs to be a coordinated effort throughout the complicated supply chain of aviation to achieve these investments, to get all these massive amounts of SAF refineries,” Reyes said at a recent aviation forum. "If everyone can put SAF on top of their agenda, it all brings us to a much better place for the entire aviation sector," he added. Cebu Pacific was the first low-cost carrier in Southeast Asia to incorporate SAF into its operations when it took delivery of its third A330NEO in May last year. CEB is scheduled to receive 21 aircraft deliveries this year, 17 of which are new engine options or NEOs, while four are current engine options or CEOs on short-term leases. The airline aims to shift to a more fuel-efficient, all-NEO fleet by 2028. It also aims to utilize SAF by launching green routes by 2025 and using SAF for its entire network by 2030. SAF is an environmentally sustainable and chemically identical alternative to fossil fuel-based aviation fuel. It can be processed from plant and used oil feedstock such as forestry and agricultural waste and used vegetable oils. It does not require any adaptations to the aircraft or engines and does not have any negative impact on performance. Using SAF results in up to 80 percent reduction in carbon emissions across the fuel’s lifecycle. Locally, one potential feedstock for SAF is coconut oil or CNO, which is also used for biodiesel production. Last February, the DOE reportedly met with the Civil Aviation Authority of the Philippines, the Philippine National Oil Company, and the European Aviation Safety Agency or EASA to discuss the potential advantage of exploring SAF in the country in compliance with the Carbon Offsetting and Reduction Scheme for International Aviation or CORSIA by 2027. Cebu Pacific Chief Executive Officer Michael Szucs also recently conveyed the Philippines' strategic position to serve more domestic and international passengers. “The Philippines has a moment here with this young middle class, increasing the wealth of the nation but also wanting to travel. We are strategically placed within the ASEAN region to be a hub, allowing more connectivity between all the people in this region,” Szucs said. “The growth story is impressive and consistent, and the tourism potential here is massive. This is the moment; this is the opportunity to get back. Now is our time to get back to that pedestal, to that very top,” he added. Cebu Pacific currently flies to 35 domestic and 24 international destinations spread across Asia, Australia, and the Middle East. The post Aviation decarbonization needs gov’t backing appeared first on Daily Tribune......»»
Regional economies slowing down — WB
The World Bank expects East Asia and Pacific economies, excluding China, to grow by 4.6 percent this year as the Philippines catches up with digitalization. The WB prediction is slower than the previous 4.9 percent estimate announced by the multinational financial institution in April. If China is included, economic growth in the region is projected to settle at five percent, the World Bank’s report from Washington said last Sunday. “This is higher than average growth projected for all other emerging market and developing economies but lower than previously projected,” the World Bank said. “The East Asia and Pacific region remains one of the fastest growing and most dynamic regions in the world, even if growth is moderating,” World Bank East Asia and Pacific vice president Manuela Ferro said. The multinational financial institution said the region might continue to face challenges in supplies of goods as more typhoons hit the region in the fourth quarter this year and climate change persists. Geopolitical tensions The World Bank added geopolitical tensions aside from the Russia-Ukraine war threatens to further hamper trade. China, the world’s second largest economy, and the US have been exchanging export bans, especially on electronic and technology products. Meanwhile, the Philippines and other Southeast Asian states are protesting against China’s aggression in the West Philippine Sea. For these reasons, the World Bank said prices of goods and services might rise, forcing central banks in the region’s developing countries to raise interest rates to prevent inflation from accelerating further. However, this means consumers might cut back spending on certain goods and services, while businesses slow operations. Borrowing costs to remain high “Therefore, borrowing costs will likely remain high, constraining room for spending and raising the risk of debt distress in some countries. Furthermore, high indebtedness, combined with rising costs of servicing debt, will weigh on private investments,” the World Bank said. For its 2024 forecast, the bank is more optimistic that the region’s economy excluding China’s will expand from 4.6 percent to 4.7 percent. “Growth in the rest of the region is expected to edge up, as recovery in global growth and easing of financial conditions offsets the impact of slowing growth in China and trade policy measures in other countries,” the World Bank said. Philippine economic growth is seen to improve to 5.9 percent next year from a 5.6 percent forecast for this year. Meanwhile, China’s economy could shrink by 4.4 percent next year from a 4.8 percent estimate for 2023 due to persisting elevated debt, tamer demand for real estate, and aging population. Sustaining high growth to require reforms “Over the medium term, sustaining high growth will require reforms to maintain industrial competitiveness, diversify trading partners, and unleash the productivity-enhancing and job-creating potential of the services sector,” Ferro said. The World Bank reported digitalization and other reforms in government services in the Philippines increased productivity of firms by 1.5 percent from 2010 to 2019. Digital technologies, for example, can spread education and health services in the provinces to ensure a bigger pool of high-skilled and energetic workers. The post Regional economies slowing down — WB appeared first on Daily Tribune......»»
Livehood kits for families in Eastern Visayas, Northern Mindanao
It has been over a year since typhoon “Odette” devastated provinces in the Visayas region, but its impact still remains especially among residents whose livelihoods were severely affected. For Ramon Aboitiz Foundation Inc.-Microfinance, Aboitiz Foundation Inc. and Pilmico Foods Corporation, recovery is the most important step for communities and families to be able to bounce back and become more resilient. On their second year of “Padayon sa Pagbusay (Paddle Unceasingly)” program, the Aboitiz business units gave egg machine livelihood kits to several families in Samar, Leyte, Negros Oriental and Misamis Oriental. In addition to the egg machines, the families will be provided technical and knowledge assistance to help them manage their businesses better. Aboitiz Foundation president and chief operating officer Maribeth Marasigan highlighted the importance of empowering recovering communities. “We in the Aboitiz Foundation try our best to help the communities where we operate. We want to see the communities rise and succeed. Our goal is to help them recover and become more resilient communities. We thank our local partners, the Aboitiz business units, who came together to extend valuable assistance,” she said. The group’s integrated agribusiness and food subsidiary said it is always ready to extend assistance across the nation. “At Pilmico, we’re not just supporting farmers, we’re aiming to elevate the agriculture industry as a whole. With the help of the Aboitiz Foundation, our commitment to empowering farmers nationwide extends beyond this project. It’s a testament to our unwavering dedication to advancing business and communities,” said Greg Canoy, CSR supervisor of Pilmico. Last year’s beneficiaries of the group’s livelihood kits were in Cebu and Samar. Each kit included an egg machine, 144 ready-to-lay hens, Pilmico feeds, a weighing scale and animal health products. “I thank Pilmico, Aboitiz Foundation and RAFI-MFI for choosing me as one of the beneficiaries for this project. This huge opportunity will be of great help to us. Thank God for this blessing,” said Marietta Cadayday, one of the beneficiaries. “Padayon sa Pagbusay” is part of RAFI-MFI’s livelihood program that aims to empower families by providing them with sustainable livelihood opportunities. “This is the start of our rebuilding, which includes rebuilding our businesses and lives, not just ours but our families and communities where we belong. These livelihood kits, which I am thankful for, would be impossible without our partners. We have our grantors who unselfishly helped us in Leyte, Negros Oriental and Misamis Oriental,” said Iris Dorado, vice president for Business Development of RAFI-MFI. The post Livehood kits for families in Eastern Visayas, Northern Mindanao appeared first on Daily Tribune......»»