Phl. To undergo 3rd peer review on anti-money laundering

 

 

By Rose de la Cruz

 

The Philippines, along with 12 of its co-founders of the Asia Pacific Group on Money Laundering, is undergoing the third peer review this year to gauge its levels of compliance with international standards on anti-money laundering and combating the financing of terrorism (AML/CFT).

 

The Philippines is one of the founding members of the APG on Money Laundering, created in 1997 in Bangkok, Thailand, which now has 41 members who all commit to a mutual peer review system.

 

In a February 22 memorandum Executive Secretary Salvador Medealdea designated the Anti-Money Laundering…

Read more: Phl. To undergo 3rd peer review on anti-money laundering

FDIs grew 56.7% in January

 

 

By Rose de la Cruz

 

Foreign direct investments grew by 56.7 percent or from $587 million in January 2017 to $919 million for the same period this year.

 

Investor outlook on the country’s economic performance remained positive on the back of strong macroeconomic fundamentals.

 

Net equity capital inflows, which accounted for the bulk of FDI during the period, rose more than eight times to $473 million from $58 million in the previous year. This was driven by the sevenfold increase in equity capital placements to $531 million, while withdrawals amounted to only $58 million…

Read more: FDIs grew 56.7% in January

DBM to enhance govt. online procurement program

  

By Rose de la Cruz

The Department of Budget and Management (DBM) said it is upgrading its online procurement system with the launch of the Philippine Government Electronic Procurement System (PhilGEPS) version 1.5 with more sophisticated software to increase reliability and performance. This is in response to the increased traffic with the system, which has caused slowdowns and difficulties on the part of government agencies and merchants. PhilGEPS 1.5 will be launched by the DBM, in coordination with the Procurement Service (PS), on March 26, 2018.

PhilGEP’s enhancement comes with the push for a…

Read more: DBM to enhance govt. online procurement program

NEDA urges immediate passage of rice tarrification bill

 

By Rose de la Cruz

 

 

The  National Economic and Development Authority (NEDA) is pushing for the immediate passage of the rice tarficiation bill in Congress, to replace the quantitative restrictions on rice imports, to  better address the supply gaps in the staple.

 

The NEDA said the rice tarrification is significant step in reforming the agricultural sector.

 

The passage of the bill, which amends Republic Act (RA) No. 8178, otherwise known as the Agricultural Tariffication Act of 1996, will pave the way for the replacement of the quantitative restrictions (QR) on rice imports with tariff.  This will remove…

Read more: NEDA urges immediate passage of rice tarrification bill

PH’s CO2 emission reduction plan lauded

International Civil Aviation Organization (ICAO) Secretary General Fang Lui has commended the Philippines on its voluntary submission of its State Action Plan on CO2 Emissions Reduction for International Aviation.

In a letter sent to the Civil Aviations Authority of the Philippines (CAAP), Secretary General Liu praised the Philippine Government for its commitment towards environmental sustainability.

“The submission of an action plan provides an opportunity to establish and showcase strategies to reduce aviation emission,” Dr. Liu said.

 

Tugade’s initiatives

According to CAAP, the state action plan on CO2 emissions reduction was achieved because of the initiatives of both DOTr and…

Read more: PH’s CO2 emission reduction plan lauded

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