DTI, OPAIEA: PBBM’s foreign trips since last year start to ‘bear fruit’

By Samuel P. Medenilla

ATOTAL of $4.349 billion or P239 billion of the foreign investments from the overseas trips of President

Ferdinand R. Marcos Jr. since last year have started to “bear fruit.”

T he Department of Trade and Industry (DTI) and the Office of the Presidential Assistant on Investment and Economic Affairs

(OPAIEA) made the report during their recent meeting with Marcos. “I can already report that some of the MOUs that we signed in Indonesia and in Singapore, mayroonngresulta[already have results]. And in fact, I think in the next couple of weeks, we will be starting to inaugurate some of these projects already,” the President said after the meeting. In a sta tement issued on Friday, the

Presidential Communications Office (PCO) disclosed the said “materialized” investments—those in various stages of implementation—were part of the 116 projects worth $62.926 billion or P3.48 trillion, which were signed during seven presidential trips.

T hese include trips in Indonesia, $8.48 billion; Singapore, $6.54 billion; United States, $3.847 billion; Thailand, $4.62 billion; Belgium, $2.20 billion; China, $24.239 billion; and Japan, $13 billion

Of the said amount, $29.712B or P1.7 trillion have existing memorandum of understanding or letters of intent.

The remaining $28.863 or P1.5 trillion is in the planning stage.

Investment obstacles

THE President said also meet with concerned government agencies to determine how to “take advantage of the contacts.”

Also t o be discussed, he noted, will be how to address the “obstacles” in the implementation of the other investments despite the government’s already “liberalized” business laws and policies.

“It is no w time for us to consolidate all of that and put it together and see what is needed for those projects to go forward. Marami kaming nakita na kailangan baguhin...yung ating mga rules and regulations na kung minsan ay di sympatheticsamga investor. [We saw a lot of things tha t needed to be changed–our rules and regulations, which are sometimes ‘unsympathetic’ to investors],” Marcos said in a video message posted by the PCO in its Facebook page last Friday.

Last w eek, the President announced the government would be putting up a “green lane” for foreign investors to make it easier for them to process business permits and licenses.

Trade dept counts on ECCP support for resumption of PHL, EU FTA talks

By Andrea E. San Juan

THE Department of Trade and Industry

(DTI) is hoping that the European Chamber of Commerce of the Philippines (ECCP), along with European companies, will assist in pushing for the resumption of the Philippines-European Union Free Trade Agreement (PH-EU FTA) negotiations.

“

The DTI would appreciate ECCP’s unified effort in pushing for the resumption of the FTA negotiations by conducting similar surveys supporting the PH-EU FTA negotiations,” Trade Secretary Alfredo E. Pascual said during the ECCP Membership Luncheon Meeting on Thursday in Makati City.

“ We request that you assist us in disseminating information to key European companies because we need their support to push for the conclusion of the FTA,” Pascual added.

T he trade chief highlighted that as the Philippines implements existing FTAs and concludes new agreements, products from Europe will be competitively disadvantaged as they enter the Philippine market.

P ascual said the DTI is setting its sights on resuming negotiations between the Philippines and EU, as it is an “essential mechanism” in the Philippines’s relationship with the bloc. In addition, the trade chief said, “it is consistent with the EU’s Indo-Pacific Strategy.”

Mor eover, he said it supports the EU’s goal to “diversify” suppliers and enhance its cooperation on supply chains in the Asean region.

P ascual also noted that the “timely conclusion” of the PH-EU FTA negotiations would further expand the scope of market access for goods, services, and investments.

H e cited anew a survey conducted by the German Philippine Chamber of Commerce and Industry (GPCCI) in 2020, which showed that 83 percent of German companies deem the resumption of the Philippine-EU FTA “highly important.”

Last mon th, the GPCCI divulged that Philippine companies stand to gain from European firms that are adopting the “China Plus-one policy,” as they look to diversify their resources.

We see a lot of efforts with the China plus-one policy here with the geostrategic way of going forward and we do see a lot of chances here for the Philippine companies to have a boost also from companies from Europe, not only from Germany, looking a bit over the edge of China to invest in the future and we are here to help,” Christopher Zimmer, Executive Director of GPCCI, told reporters on the sidelines of the Philippine Outlook 2023 last month.

Zimmer divulged tha t while he could not reveal figures and names of German firms willing to invest or expand in the Philippines, he said the German companies are “selecting now other investment places outside China.”

It ’s worth noting that another European country, Czech Republic, is also eyeing the Philippine market as it looks into spreading out its export activity after bearing the brunt of a series of crises in Europe.

I n a statement on Wednesday, the Czech chamber said it is keen on expanding their business engagements beyond European markets, especially in the Philippines, which it said is considered by Czech companies as a “great potential haven of investments.”

DSWD, DFA and BSP affirm validity of ePhilID as ‘valid’ proof of identity

THE Department of Social Welfare and Development (DSWD), Department of Foreign Affairs (DFA), and Bangko

Sentral ng Pilipinas (BSP) released issuances and advisories for the acceptance of the ePhilID as a “valid” proof of identity.

The DSWD, in a memorandum, directed all its offices, including its attached agencies, to recognize the ePhilID as a government-issued identification document for individuals availing of services and programs of the agency. This includes the Pantawid Pamilyang Pilipino Program (4Ps) and Assistance to Individuals in Crisis Situations (AICS).

The DFA also issued a public advisory on the acceptance of the ePhilID as an accredited government-issued valid ID for passport processing. This covers the application for and renewal of passports.

In addition, the BSP issued a memorandum to all its supervised institutions for the use and acceptance of the ePhilID as sufficient proof of identity in its supervised banks/non-bank financial institutions. This means that individuals can do financial transactions, such as opening a bank account, using the ePhilID.

“The implementation of the ePhilID is anchored on PSA’s [Philippine Statistics Authority] commitment to providing registered persons immediate access to services and programs,” said PSA Undersecretary Dennis S. Mapa, National Statistician and Civil Registrar General. “May this significant step from DSWD, DFA, and BSP be followed by more institutions delivering services to all Filipinos through the ePhilID.”

Meanwhile, the PSA continues to issue more ePhilIDs by implementing a plaza-type and houseto-house distribution parallel to fast-tracking PhilID production and printing. The PSA has also pilot-implemented a web site allowing registered persons to download a PDF copy of their ePhilID on their mobile devices.