Business Trends

DTI readies roadmap for F&B industry

The department of Trade and Industry (DTI) – Board of Investments (BOI), together with the private sector, will soon finish the roadmap for processed food industry sub-sectors such as carrageenan, processed shrimps, dried mangoes, and cacao. (“PHILIPPINE BUSINESS REPORT VOLUME 26 No. 12 November 2015”)

 

Residential units seen doubling in 5 years

The country’s supply of residential units will double over a period of five years as a result of continuous mergers of international hotel brands and Filipino property developers, global hospitality consulting firm C9 Hotelworks’ latest study showed. (“PHILIPPINE BUSINESS REPORT VOLUME 26 No. 12 November 2015”)

“The Philippines is unique in terms of the 10M Filipinos working abroad. These are property buyers. This is unique compared to other countries in the Southeast Asia Region”, C9 Hotelworks reported. (“PHILIPPINE BUSINESS REPORT VOLUME 26 No. 12 November 2015”)

 

Obama promotes business opportunities in climate change

Asia-Pacific Economic Cooperation (APEC) leaders and business executives are urged to use renewable energy instead of current energy sources in a bid to mitigate climate change while boosting economic growth, United States (U.S.) President Barack H. Obama said.

The old rules that said that we cannot grow our economies and protect our environment at the same time – those are outdated. We can transition to clean energy and without squeezing businesses and consumers,” Obama said in his address to the delegates of the APEC 2015 CEO Summit held at the Makati Shangrila Hotel.

He said investments in renewable energy sources can spur the global economy that “Frankly needs a boost right now”.

There is not a contradiction between growth, development, and being good stewards of the planet – they are complementary. We have to break-out of the mindset that says that if we are doing something about the environment, that slows growth”, he said. (“PHILIPPINE BUSINESS REPORT VOLUME 26 No. 12 November 2015”)

 

Serviced apartments flourish

The local tourism industry is on the upswing together with the serviced apartment sector.

Serviced apartments are a new concept in the Philippines which became a viable alternative for the business tourism sector featuring fully-furnished apartments providing amenities usually available in hotels. These are cheaper alternative accommodation for both short and long-term stays.

The booming economy equals new businesses, which equals to more executive looking for efficient places to live in the central business districts in the Philippines”, Dusit Thani Residences Davao Development Director Andrew Sparrow said.

Executive travelers tend to stay for at least a week to few months, and prefer accommodations that provide the comforts of home, easy access to luxurious amenities, and are ideally located near their workplace, Sparrow said. (“PHILIPPINE BUSINESS REPORT VOLUME 26 No. 12 November 2015”)

 

EU urges PHL to maximize GSP+ scheme

The department of Trade and Industry (DTI) and the European Union (EU) are urging local firms to fully utilize the benefits of the EU’s Generalized System of Preferences Plus (EU-GSP+) scheme.

In terms of information campaign, the DTI, through the Export Marketing Bureau, has already conducted info sessions to 3,236 attendees as of October 2015.

While significant improvements have been seen in machinery and agri-food industries, there are still much more untapped development potential in trade following the GSP+ status grant, EU said.

Despite the promising benefits of the grant in trade, the Philippines pales in comparison with India, Bangladesh, and Pakistan which are seen to be the largest EU GSP+ user, EU noted.

The Philippines became the only beneficiary country of the scheme in Southeast Asia after securing the grant status in December last year. It allows beneficiary countries to export 6,274 products to any of the 28 members of the EU bloc to zero tariff for a period of 10 years. (“PHILIPPINE BUSINESS REPORT VOLUME 26 No. 12 November 2015”)

 

PHL products that may avail of the duty free access”

∞ Coconut and Marine products                             ∞ Footwear

∞ Process Fruit                                                       ∞ Furniture

∞ Prepare Food                                                      ∞ Umbrellas

∞ Animal and Vegetable fats and oils                      ∞ Chemicals

∞ Textiles

∞ Garments

∞ Headwear

Prior to securing the EU GSP+ status, the Philippines was a beneficiary of the regular GSP program which covered 6,209 products, with 2,442 products subject to zero duty and the rest subject to lower tariffs.

However, the EU GSP+ grant comes with a price, as beneficiaries are expected to comply with 27 international conventions as well as the EU reporting and monitoring procedure, EU stressed.

For further info on EU-GSP+, please visit: http://www.dti.gov.ph/emb/index.php/emb-focus-2/eu-gsp. (“PHILIPPINE BUSINESS REPORT VOLUME 26 No. 12 November 2015”)

 

Business urged to invest in disaster preparedness

The National Disaster Risk Reduction Management Council (NDRRMC) urged business to invest more on disaster preparedness to invest more on disaster to strengthen the countries resilience to calamities and ensure continuity of business operations.

Business are encouraged to contribute resources or expertise before and not just after a disaster strikes, NDRRMC Executive Director Alexander P. Pama said.

Their CSR (Corporate Social Responsibility) should not only about relief goods . . . . Investments on disaster resilience will not only help them recover fast. It will also engender goodwill between them and the people, their market”, Pama added. (“PHILIPPINE BUSINESS REPORT VOLUME 26 No. 12 November 2015”)

Bohol port gets new passenger terminal

Philippine Ports Authority (PPA) inaugurated Port of Tagilaran’s two-storey P57-M passenger terminal.

The facility, constructed by Dakay Construction and Development Corp., sits on a 1,900-sqm. Parcel of land, with a seating capacity of 500 passengers and is equipped with X-ray machines, Nursing Rooms, a Ballistic Exam Room, among other emenities.

The port of Tagbilaran is the main gateway to and from the province of BOHOL. (“PHILIPPINE BUSINESS REPORT VOLUME 26 No. 12 November 2015”)