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

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

Foreign debts remain still at comfortable levels

 

 

By Rose de la Cruz

 

The Bangko Sentral ng Pilipinas said the country’s foreign debts as of end-2017 remained at comfortable level at $73.1 billion, up by $730 million or 1 percent over that of September 2017 level of $72.4 billion.

 

BSP Governor Nestor Espenilla said the growth in the debt level during the quarter was due largely to the $1.3 billion increase in the holdings of Philippine debt papers by non-residents, reflecting sustained investor interest in the country.

 

Positive foreign exchange (FX) revaluation adjustments ($70 million) contributed to the increase in…

Read more: Foreign debts remain still at comfortable levels

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

2017 foreign direct investments hit all- time high

 

 

By Rose de la Cruz

 

The full-year 2017 foreign direct investments (FDIs) hit all time high of $10 billion net inflows up by 21.4 percent from the previous year.

 

Investor continue to view the country as a favorable investment destination due to its sound macroeconomic fundamentals and growth prospects.

 

All major FDI components registered increases during the year with net equity capital investments expanding by 25.9 percent to $3.3 billion, with gross placements of $3.7 billion exceeding withdrawals of $479 million.

 

Equity capital placements originated largely from the Netherlands, Singapore,…

Read more: 2017 foreign direct investments hit all- time high

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