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MAP pushes safe reopening of economy, passage of CREATE

The Management Association of the Philippines is pushing for the safe reopening of the economy and immediate approval into law of the proposed Corporate Recovery and Tax Incentives for Enterprises Act to help businesses affected by the pandemic......»»

Category: financeSource: philstar philstarJan 13th, 2021

BCCP pushes for easing of travel restrictions

The British Chamber of Commerce Philippines is pushing for the further easing of travel restrictions, as well as the immediate passage of the amendments to the Retail Trade Liberalization Act, to attract more foreign investments to help revive the economy......»»

Category: financeSource:  philstarRelated NewsDec 13th, 2020

Gov’t pushes digitalized, mechanized farm sector

The Department of Finance (DOF) said the government is rapidly digitalizing the country’s agricultural systems and mechanizing farm production to ensure food security over the long run. During the virtual 2020 Annual Meetings of the International Monetary Fund and the World Bank Group, Finance Secretary Carlos G. Dominguez III said the government wants to turn the coronavirus-induced health emergency into an opportunity. Finance Secretary Carlos G. Dominguez III (MANILA BULLETIN FILE PHOTO) To do so, Dominguez said efforts to implement the twin measures are being done to expand Filipinos’ market access for food producers while keeping food supply available and prices affordable. “We are confident that the innovative measures we are putting in place today will transform Philippine agriculture into a dynamic, high-growth sector that will fuel our country’s strong recovery,” Dominguez said during the high-level Food Security Roundtable at the meeting. Dominguez said the government is also promoting digital marketing to support ongoing efforts to boost consumer spending in the new normal and sustaining public investments in rural infrastructure. He added that the government is accelerating the move towards agricultural technology-based farming and value chain development to ensure long-term food security.  To channel more funds into the agriculture sector, the government is also encouraging more private-sector financing in the sector by proposing reforms in the Congress that will provide more access to credit for the entire agricultural value chain, Dominguez said.   “We all aspire for greater food and nutrition security for our people. Only an efficient and modern agriculture sector can fully deliver that,” Dominguez, who was Agriculture secretary during the administration of the late President Corazon Aquino, said. Amid pandemic, Dominguez III said the Philippines has been handling the COVID-19 crisis “with strength on the food security front” duets reforms, particularly with the passage of the Rice Tariffication Law (RTL). According to Dominguez, the agriculture sector was “one of the brightest spots” of the Philippines’s response to the pandemic owing in large part to the RTL. He pointed out that agriculture sector even continued to grow when the rest of the economy contracted because of the COVID-19 pandemic.  Dominguez said rice tariffication was among the main reasons why the government has succeeded in keeping food prices and supply stable, and inflation low during the COVID-19 emergency.  Keeping rice prices stable has been helpful for low-income households that spend a fifth of their budgets on rice alone, he added.   “The Philippines faced the COVID-19 pandemic with strength on the food security front,” Dominguez said.  He pointed out that despite logistical restrictions resulting from the lockdowns imposed to protect people and communities from the lethal coronavirus, the government was able to sustain the flow of produce from local farms to Filipino consumers.   “A food crisis did not happen. This is credited to the effective management of the food supply by our Agriculture Department,” Dominguez said......»»

Category: newsSource:  mb.com.phRelated NewsNov 8th, 2020

Angkas, JoyRide nangako ng ‘safe ride’

Manila, Philippines – Nangako si Angkas chief transport advocate George Royeca na bibigyan nila ng ‘safe ride’ ang kanilang mga mananakay sa kanilang pagbabalik operasyon. “Transportation is at the core of the reopening of the economy and it has always been the advocacy of Angkas to provide inclusive transportation safely to the public, especially at […] The post Angkas, JoyRide nangako ng ‘safe ride’ appeared first on REMATE ONLINE......»»

Category: newsSource:  remateRelated NewsOct 23rd, 2020

NEDA chief pushes economic reopening

The opening the economy in the safest possible way will be the key to fully recover from the impact of the COVID-19 pandemic, according to National Economic and Development Authority director-general Karl Kendrick Chua......»»

Category: financeSource:  thestandardRelated NewsSep 17th, 2020

DOF seeks swift passage of 2021 budget, economic measures

The Department of Finance (DOF) has sought the swift enactment by Congress of the proposed national budget for next year along with the economic priority measures to rebuild the economy and decisively defeat coronavirus. Finance Secretary Carlos G. Dominguez III ( MB FILE, Albert Garcia) During a briefing for the Senate finance committee, Finance Secretary Carlos G. Dominguez III said the timely enactment of the P4.506 trillion 2021 national budget is a key component of the government’s comprehensive program under its economic bounce-back plan. On top of the budget, Dominguez also said that a “timely and decisive” passage of several economic priority measures are needed to accelerate economic recovery. The priority measures, now pending in Congress, include the Financial Institutions’ Strategic Transfer (FIST) Act, and the Government Financial Institutions’  Unified Initiatives to Distressed Enterprises for Economic Recovery (GUIDE) bill. FIST allows banks to dispose of bad loans and non-performing assets through asset management companies, while GUIDE seeks to allow state-run banks to form a special holding company that will infuse equity, with strict conditions, into strategically important companies facing insolvency.  Likewise, the finance chief urged the Senate to pass the proposed Corporate Recovery and Tax Incentives for Enterprises Act (CREATE), which will  immediately lower the corporate income tax (CIT) rate from 30 percent to 25 percent. “The swift enactment of CREATE, FIST, GUIDE and the 2021 budget will serve to accelerate our economic recovery. We should not delay providing urgent and necessary relief to our people,” Dominguez said during the Development Budget Coordination Committee (DBCC) briefing. The DBCC is composed of the heads of the Department of Budget and Management (DBM), DOF, National Economic and Development Authority (NEDA), Bangko Sentral ng Pilipinas (BSP); and a senior representative from the Office of the President (OP). “We are committed to working closely with you on the recovery measures so that these can be enacted in a timely, decisive, and responsible manner,” Dominguez told members of the panel chaired by Senator Juan Edgardo Angara. He said the Duterte administration will continue to work with the legislature in passing the remaining packages of the comprehensive tax reform program (CTRP) that will, among others, institute reforms in property valuation and in the taxation of the financial sector. Dominguez said economic recovery also rests on sustaining President Duterte’s signature program “Build, Build, Build,” as sound infrastructure investments provide the largest multiplier effect on the economy in the form of more jobs creation,  increased consumption, and the generation of additional productive activities......»»

Category: newsSource:  mb.com.phRelated NewsSep 9th, 2020

DTI pushes for immediate passage of stimulus package to mitigate COVID-19 fallout

DTI is seeking the urgent passage of the proposed Philippine Economic Stimulus Act of 2020 (PESA), which aims to provide immediate assistance to workers and businesses and help the economy recover from the impact of the COVID-19 pandemic......»»

Category: newsSource:  samarnewsRelated NewsSep 2nd, 2020

DTI pushes reopening of more small businesses

The Department of Trade and Industry wants more businesses such as review centers, internet shops, gyms, establishments offering other personal grooming services, pet grooming services and drive-in cinemas to be allowed to operate in general community quarantine areas as part of the gradual reopening of the economy......»»

Category: financeSource:  philstarRelated NewsJul 29th, 2020

Lopez pushes for immediate passage of economic stimulus bill to help firms

The Trade Department is pushing for the immediate passage of the proposed Philippine Economic Stimulus Act of 2020 to provide immediate assistance to workers and businesses and help the economy recover from the impact of the coronavirus pandemic......»»

Category: financeSource:  thestandardRelated NewsMay 26th, 2020

Solon Pushes Use of Special Fund for Safe School Reopening

To help schools prepare for a safe reopening this coming school year, Senator Win Gatchalian is seeking more flexibility on the use of the Special Education Fund (SEF) allotted to local school boards. Gatchalian, chair of the Senate committee on basic education, arts and culture, said giving local school boards more leeway on the use […].....»»

Category: newsSource:  metrocebuRelated NewsMay 3rd, 2020

NBA pushes plan to reopen facilities until May 8 at earliest

MIAMI — The NBA has pushed back the possible reopening date of some team practice facilities for at least a week until May 8, 2020 at the earliest, saying Monday the extra time was needed in part to make sure player training options would be safe and controlled in an effort to try to mitigate […] The post NBA pushes plan to reopen facilities until May 8 at earliest appeared first on Cebu Daily News......»»

Category: newsSource:  inquirerRelated NewsApr 28th, 2020

DILG Pushes for Bill Institutionalizing Anti-Drug Abuse Councils Nationwide

The Department of the Interior and Local Government (DILG) is pushing for the passage of law that seeks to create and institutionalize anti-drug abuse councils (ADACs) in all provinces, cities, municipalities, and barangays nationwide. DILG Secretary Eduardo M. Año said that once the bill is passed into law, all local government units (LGUs) will be […].....»»

Category: newsSource:  metrocebuRelated NewsDec 21st, 2019

Subsidies not key to econ rebound

Reopening the economy further as safely as possible, not providing subsidies, is needed to help the Philippines recover from the Covid-19 pandemic, according to the National Economic and Development Authority (NEDA). In a forum organized by the Financial Executives Institute of the Philippines on Thursday, Acting NEDA Director General Karl Kendrick Chua told attendees that […].....»»

Category: newsSource:  manilatimes_netRelated NewsJan 17th, 2021

Private sector groups push for Create enactment

Fifty-one private sector groups are calling for the swift passage of the proposed Corporate Recovery and Tax Incentives for Enterprises (Create) Act this year. In a statement on Friday, members of some of the largest and most widely-represented private sector groups in the country, reiterated “their strongest and unequivocal support” for the immediate enactment of […].....»»

Category: newsSource:  manilatimes_netRelated NewsJan 17th, 2021

China to donate 500,000 doses of COVID-19 vaccines to PH — Palace

Malacañang said Saturday that the Chinese government will donate 500,000 doses of COVID-19 vaccines to the Philippines as the two countries reaffirmed ties and cooperation against the pandemic. Chinese State Counselor and Foreign Minister Wang Yi (DFA OFFICIAL TWITTER ACCOUNT/ MANILA BULLETIN) The Office of the President (OP) made the statement as Chinese State Councilor and Foreign Affairs Minister Wang Yi made a 40-minute courtesy call to President Duterte in Malacañang Saturday. In a statement, the OP said that Wang assured Duterte of China’s commitment to support the Philippines’ efforts to combat COVID-19, a disease that originated in Wuhan, China. “He (Wang) announced that China will donate 500,000 doses of COVID-19 vaccine to the Philippines. He likewise affirmed China’s resolve to do everything to ensure that vaccines become a global good,” Malacañang said. According to Malacañang, Duterte lauded the continued high-level engagement between the Philippines and China even amid the pandemic and stressed the importance of both sides delivering on the promises of the Comprehensive Strategic Cooperation. Duterte stressed that cooperation on public health must be strengthened, particularly access to safe and effective vaccines, to safeguard the health of the people and in order to hasten the economic recovery of both nations and their neighboring countries. “The recovery of nations… sits on the back of stronger economies,” Duterte told Wang. “China plays a very key role in reviving our region’s economy. Let us do all we can to revive economic activities between the Philippines and China,” he added. Malacañang said that Duterte thanked China for its continuing support and cooperation in the country’s fight against COVID-19 in terms of medical equipment and supplies and sharing of experiences and expertise as well as in the repatriation of Filipinos. Economic cooperation Wang declared that China will continue to support the Philippines’ recovery through enhanced economic cooperation. He likewise reiterated his country’s determination to complete pending infrastructure projects. The Palace said that Wang underscored China’s commitment under President Xi Jinping to work closely with the Philippines to sustain the positive trajectory of the valued and special bilateral relations. At the start of his presidency in 2016, Duterte has expressed his desire to build stronger relations with China — even temporarily setting aside the country’s victory over the West Philippine Sea in The Hague to make it happen......»»

Category: newsSource:  mb.com.phRelated NewsJan 17th, 2021

Over 50 business groups back passage of CREATE

Over 50 business groups have joined the call for the immediate enactment into law of the Corporate Recovery and Tax Incentives for Enterprises bill, noting every day of delay puts the country at risk of losing more jobs and investments amid the COVID-19 pandemic......»»

Category: financeSource:  philstarRelated NewsJan 15th, 2021

Philippines Inc. renews call for passage of CREATE

Businessmen on Friday renewed their call for the passage of the Duterte administration's revised corporate tax reform, saying the measure would serve as companies' main fix to the destruction of the coronavirus pandemic......»»

Category: financeSource:  philstarRelated NewsJan 15th, 2021

Coronavirus variant leaves Philippines unfazed to reopen further

There’s no stopping the Philippines from slowly reopening the economy further this year even with new and more contagious coronavirus strains spreading globally......»»

Category: financeSource:  philstarRelated NewsJan 6th, 2021

Solon pushes bill to strengthen Boy Scouts as autonomous NGO

A legislator has pushed for the passage of a bill that recognizes the Boy Scouts of the Philippines (BSP) as an independent, voluntary, autonomous non-governmental organization (NGO)......»»

Category: newsSource:  thestandardRelated NewsJan 2nd, 2021

PNP assures rebel returnees of safe passage

Philippine National Police chief Gen. Debold Sinas has given assurance of safe passage to communist rebels who want to surrender......»»

Category: newsSource:  philstarRelated NewsDec 20th, 2020

Safe_expression: The Importance of Privacy and Freedom of Self-Expression

Today, self-expression is not only about showing our individuality through the clothes we wear and how we look but also by what we do online – with many of us using new media to share our views and beliefs. How can people create their digital identities and express themselves while keeping their unique personality safe […].....»»

Category: newsSource:  metrocebuRelated NewsDec 16th, 2020