LOCAL FIRMS will not have to comply with a minimum investment value, but will have to adhere to strict environment and labor standards to operate in economic zones being planned for non-export businesses, an official said yesterday. Read the rest of this entry »

CEBU CITY — The Trade department has pressed the Philippine Economic Zone Authority (PEZA) to issue guidelines for the formation of economic zones in the provinces that will also cater to non-exporters, as part of the current administration’s efforts to spur business activity outside Metro Manila, a Cabinet official told journalists here late last week. Read the rest of this entry »

MANILA, Philippines – In a bid to spur investments in less developed regions in the country, the national government is looking at creating an ecozones for local enterprises that will exempt locators from paying business tax. Read the rest of this entry »

Unemployment and poverty are related problems that must be addressed by any government. In the unique situation of the Philippine economy, these are major problems that the sitting president must give high attention to. Read the rest of this entry »

As so-called low-base factors, as a result of the comparatively low growth rates last year, subside, economic growth is seen to slow down from the record 7.9 percent in the first half and settle at an overall 6.2 percent gross domestic product expansion by the end of the year, the revised Asian Development Outlook (ADO) for this year issued by the Asian Development Bank (ADB) showed. Read the rest of this entry »

I knew I was going to touch some raw nerves when I raised the issue of the proliferation of Freeports in a joint meeting of the Management Association of the Philippines, Makati Business Club and the Financial Executives Association of the Philippines. Secretary Cesar Purisima had just announced his plans to raise the Government’s tax efforts from a low of 13.6 percent by launching a no-nonsense campaign against smugglers and tax evaders. The objective was to reduce the projected fiscal deficit of P350 billion without having to raise or impose new taxes. Read the rest of this entry »