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July 15, 2013 1
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July 15, 2013 Vol. 17, No. 14
A bi-monthly digest of global and domestic industry trends and developments. Published by the Trade and Industry Information Center, Department of Trade and Industry Manila, Philippines Tel. (632) 895.3611 Fax (632) 895.6487 To subscribe, email: publications@dti.gov.ph Online: http://www.dti.gov.ph
In this issue Focus PHL’s competitiveness up 5 notches
Inside DTI DTI-Davao strengthens KM program Good News, Philippines! 1. PHL to sustain high growth rate 2. PHL, SEA’s new investment darling-DBS Bank 3. Consumer confidence hits record high MSME News 1. Tindahang Pinoy posts 12% growth 2. DTI holds free entrepreneurship seminars Business Update 1. DTI, Nestlé urge council to revive coffee farms 2. Plastics sector join DBFTA sessions 3. Investment conference for MSMEs conducted
Consumer News 1. Patronize reputable cargo forwarders 2. Instant noodles, bottled water now considered basic commodities 3. Prices of basic goods in Davao Region down in Q1 4. May inflation remains flat 5. FDA bans 15 Taiwan food products 6. 465,000 Ford vehicles recalled for possible fuel leaks Features Get that exact change ASEAN Watch 1. ASEAN economic integration to benefit PHL exporters 2. Robust growth seen to prop up real estate 3. PHL, ASEAN countries agree to work on common visa 4. Japan remains PHL’s top export market Statwatch What’s New?
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Focus PHL’s competitiveness up 5 notches
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he Philippines moved up in the world competitiveness ranking to 38th place out of 60 countries in the 2013 World Competitiveness Yearbook (WCY) – its best performance since 2009 – on the back of strong macroeconomic fundamentals and upbeat investor confidence.
In 2012, the country ranked 43 out of 59 countries.
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The country ranked 11th in Asia Pacific, up from 13th in 2012, inching closer to being ranked among the world’s most economically competitive. The goal is to move from the bottom third of world rankings to the top third by 2016. The 2013 report now places the Philippines in the middle third of the list and out of the bottom-third position, the National Competitiveness Council (NCC) reported. Topping the 2013 WCY list was the United States (U.S.), followed by Switzerland, Hong Kong, Sweden, and Singapore. Among its peers in the Asia-Pacific, the Philippines, with its score of 63.146, bested Indonesia and India which ranked 39th and 40th, respectively.
Inside DTI DTI-Davao strengthens KM program
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he Department of Trade and Industry (DTI)-11 is institutionalizing its Knowledge Management (KM) program to further improve its services to clients. “As an ISO-certified organization, it has always been our commitment to continuously provide excellent service to our clients,” DTI-11 Regional Director Marizon S. Loreto said. KM Consultant Dr. Lorenzo F. Templonuevo said the practice
Backed by a robust 6.6-% gross domestic product (GDP) growth – the second highest in Asia – a soaring stock market, and an upgrade to investment grade by two major rating agencies, the Philippines has been hailed by many analysts as the next economic tiger of Asia. The WCY uses four broad factors in measuring competitiveness, namely economic performance, government efficiency, business efficiency, and infrastructure. The Philippines saw improvements in three of the four factors, particularly economic performance (from 42nd to 31st), government efficiency (from 32nd to 31st), and business efficiency (from 26th to 19th). This was the second best ranking that the country posted in economic performance after placing 29th in 2011. The strong 2013 first-quarter growth of 7.8% has kept the momentum going for the country. Other factors that contributed to the improved ranking were an investment grade rating from Fitch Ratings, Standard and Poor’s (S&P), and Japan Credit Rating Agency (JCR) and gains in tourism promotion. (GMA, PDI, Rappler 05/30; MAB 06/11)
of KM in organizations entails the institutionalization of the KM processes that include identification, creation, storage, sharing, and application of knowledge. The recent KM training in Davao had the theme “Optimizing Gains from Knowledge Assets.” “In DTI, it has always been our mantra to optimize the use of every little resource that we have. Relative to knowledge, we want those gathered and stored data and information to be translated into something that will
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benefit more consumers and businessmen,” Loreto said. She cited for instance the milestones that the Davao Industry Cluster Capacity Enhancement Project (DICCEP)
Good News, Philippines! 1. PHL to sustain high growth rate
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ew York-based think tank Global Source has raised its gross domestic product (GDP) growth forecast for the Philippines this year to 6.5% from 6.1%, with the outlook favoring an even higher upward adjustment. It said the country’s first-quarter economic growth of 7.8% indicates that the record-high business optimism is translating into real economic activity. On the same note, British banking firm Hongkong and Shanghai Banking Corporation (HSBC) said the country exceeded GDP growth projections on the back of a strongerthan-expected contribution from inventory changes and government spending. Also, Standard Chartered Bank said the first-quarter result confirmed its bullish view on the Philippine economy brought on by the investment grade the country received from Fitch Ratings, Standard and Poor’s (S&P), and Japan Credit Rating Agency (JCR). “We believe that investment growth is likely to accelerate on the back of sustained corporate optimism and the implementation of more public-private partnership (PPP)
2. PHL, SEA’s new investment darling-DBS Bank
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he Philippines is seen to have the highest growth potential in the years to 2020 among Southeast Asia’s new investment darlings – Thailand, Indonesia, and the Philippines, or the TIP economies, Singapore-based DBS Ltd. reported.
has been benefiting the region’s eight priority industries namely banana, mango, coconut, seaweed, wood, mining, tourism, and information and communications technology (ICT).
infrastructure projects,” Standard Chartered Economist Jeff Ng said. In a research paper, Ng said investment growth in the first quarter was driven by a spike in construction, while growth in durable equipment production had also been strong. Even HSBC said the Philippines is a resilient economy, backed by hardworking Filipinos abroad who continue to send home money to boost private consumption. Also, Swiss global financial services company UBS AG has raised anew its Philippine economic growth forecast due to the country’s robust first-quarter expansion, election spending, and boom in the construction sector. UBS Economist Edward Teather said the Philippine economy may expand by 7.0% this year, higher than the bank’s previous forecast of 6.3%. (PDI 06/03)) GDP Growth Q1 2013 Select Asian economies Country Philippines China Indonesia Thailand Viet Nam
GDP growth (in %) 7.8 7.7 6.0 5.3 4.9
In a June 18, 2013 report titled “Road map to 2020: TH, ID, PH,” Thailand’s gross domestic product (GDP) growth is seen averaging at 5.2% until 2020, while both Indonesia and the Philippines’ expansion for the eight-year period is projected at 6.3%.
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DBS Ltd. Economist Eugene Leow said the Philippines can potentially run at trend GDP growth of 7%-8% as its healthy fiscal position, manageable inflation, and a financial system awash with cash has yet to be fully utilized. However, he said a more conservative growth figure
3. Consumer confidence hits record high
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onsumer confidence has hit record high this quarter as the country’s strong economic growth is expected to translate to more investments, more hiring, and higher salaries, the Bangko Sentral ng Pilipinas (BSP) recently reported. The Consumer Expectations Survey results showed that the overall confidence index (CI) climbed to -5.7% for the next quarter from -11.2% in the Q2. “The current CI is the highest since the BSP survey began in the first quarter of 2007,” BSP Assistant Governor for Monetary Policy Sub-Sector Ma. Almasara Cyd N. Tuaño-Amador said. A negative result in the index indicates the pessimists outnumber
MSME News 1. Tindahang Pinoy posts 12% growth
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he Tindahang Pinoy in Cebu grew 12% in sales since it started operations, owing to the heightened awareness of foreign and Filipino market to avail itself of Philippine-made quality products made available in a government-accredited facility. The Tindahang Pinoy, located at the Bridges Town Center in Alang-Alang, Mandaue City, houses 75 tenants from exporters of local products across the region and neighboring provinces. The facility, considered as a one-stop souvenir shop and managed by the
of 6%-6.5% is realistic in the coming eight years as they factor in gradual improvement in investment rates. The report noted that attracting sufficient investments along with generating jobs and utilizing human capital effectively, will remain the key challenges. (GNP 06/21)
the optimists although the margin between the two declined to its lowest ever, she said. BSP-Department of Economic Statistics (DES) Director Rosabel Guerrero attributed the result to better job opportunities, increased investment inflows that would support job creation, and salary increases. “Consumers also cited the country’s strong macroeconomic fundamentals and the investment grade credit rating by Fitch Ratings as factors that contributed to their more bullish outlook,” she said. The survey, held from April 3-15, 2013 was conducted from 5,884 households nationwide with a response rate of 97.3%. (TPS 06/15)
Gifts, Toys and Housewares Foundation (GTH-Cebu), started with 45 tenants a year ago. GTH-Cebu Executive Director Rosalinda L. Fuentes said the help from the travel operators and the Department of Tourism (DOT) to promote the Tindahang Pinoy Cebu to its clients has contributed to the sales growth in the last couple of months. According to Fuentes, the Tindahang Pinoy Cebu is still inviting tenants from all over the Visayas region to showcase their products, especially the delicacies and
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unique gift items to widen the customers’ choices. Likewise, Tindahang Pinoy tenants are now attracting institutional clients, such as those companies ordering in bulk unique gift items for corporate giveaways, thus helping the micro-entrepreneurs expand their market base.
2. DTI holds free entrepreneurship seminars
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he Department of Trade and Industry-Bureau of Micro, Small, and Medium Enterprise Development (DTI-BMSMED) conducted free entrepreneurship sessions last month. The seminars were organized together with the Bureau of Trade Regulation and Consumer Protection (BTRCP), Bureau of Product Standards (BPS), and the Design Center of the Philippines (DCP), and in cooperation with the Bureau of Internal Revenue (BIR), Food and Drug Administration (FDA), Shopinas.com, Ultima Entrepinoy, and Entrepreneur Consultant Butch Salvador. “We are continuously holding sessions to provide entrepreneurs with useful and up-to-date information
Business Update 1. DTI, Nestlé urge council to revive coffee farms
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epartment of Trade and Industry (DTI)-Kalinga Provincial Director Grace Baluyan urged the Kalinga Coffee Council (KCC) to look into rejuvenating locals’ coffee cultivation to help develop the province through the coffee industry. Farmers in the province often only tend to their coffee plants during harvest season or abandon it completely. This counteracts the advantages of cultivating coffee which best grows in tropical climates such as in the Philippines.
Department of Trade and Industry (DTI)-7 Regional Director Asteria C. Caberte said that as of March this year, the facility had generated a total of P300,000 in sales. Around 70% of products sold in the facility are sourced from the Central Visayas region, while 30% come from other regions in the country. on improving the operation of their businesses. These sessions are also open to would-be entrepreneurs,” BMSMED Officer-in-Charge (OIC) Jerry T. Clavesillas said. For more information on free entrepreneurship sessions, call BMSMED at 897.1693, 751.5076, 890.4968, and 897.7596. Seminar topics
Business Taxation for SMEs Consumer Rights and Protection Overview on Product Standards, Policies, and Guidelines Trends and Design for Furniture Putting your Business Online Food Safety and How to Acquire a Food and Drug Administration (FDA) Certificate Skills Training on Food Cart Business
Nestlé Philippines Inc. Representative Alvin Cariño said during the first KCC Coffee Planning Workshop that currently the country’s yearly coffee bean demand is at 65,000 metric tons (MT), with 90% used for instant coffee and 10% for roast and ground coffee, based on Nestlé’s market sales study. The study also shows that Filipinos consume 11.6B cups of coffee annually.
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2. Plastics sector join DBFTA sessions
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he Department of Trade and Industry (DTI), through the Bureau of Export Trade Promotions (BETP) and the Philippine Trade Training Center (PTTC) and with support from the Bureau of Customs (BOC) and the Tariff Commission, held the first Doing Business in Free Trade Areas (DBFTA) information session for the plastics sector last March. The event was attended by 72 participants including 48 who represented 46 companies that are members of the 180-strong Philippine Plastics Industry Association (PPIA). The session informed industry members about the DBFTA program, the benefits of free trade agreements (FTAs), and the planned formation of the Association of Southeast Asian Nations (ASEAN) Economic Community by 2015.
3. Investment conference for MSMEs conducted
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he Department of Trade and Industry-Regional Operations and Development Group (DTI-RODG), in partnership with the Japan International Cooperation Agency (JICA), held “Investing in Priority Industry Clusters for SMEs: A Conference” on June 25-26, 2013 at the SMX Convention Center, SM Lanang Premiere, Davao City to promote the National Industry Cluster Capacity Enhancement Project (NICCEP). The conference consisted of an exhibit of 19 priority industry clusters and investment projects, break-out sessions where business opportunities in industry clusters were discussed, and business matching sessions that enabled Philippine suppliers or industry cluster representatives to meet one-on-one with possible investors or buyers. This served to promote trade and investment opportunities
Customs rules and regulations, and tariff classifications were also discussed by speakers from the BOC and Tariff Commission. PPIA President Peter Quintana said they will include sub-industry affiliates such as PVC-pipe makers and plastic recyclers, and attend further information sessions. FTAs provide minimum to zero tariff imposition from FTA partners that help create competitive products and provide a flow of investments. Some 55% of the country’s exports are with FTA partners, with 20% to Japan, 19% to ASEAN countries, and 14% to the United States (U.S.) The Philippines has FTAs with ASEAN members, Japan, China, Korea, India, Australia, and New Zealand.
in selected sectors including agribusiness, information and communications technology (ICT), support to tourism, health and wellness, and product manufacturing particularly of fresh and processed tropical fruits, processed food, coconut, aqua-marine, poultry, and rubber. In time for the NICCEP’s first-year anniversary, the DTI conducted the conference to present the initiatives done in developing and mobilizing innovative and globally-competitive SMEs through industry clustering, and to provide direction for the project’s further implementation in the next two years. NICCEP was created to reproduce on a national scale the achievement of eight industry clusters under the Davao Industry Cluster Capacity Enhancement Program (DICCEP), a three-year project of the DTI in collaboration with JICA in 2009.
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NICCEP would be funded by JICA during its three-year run and is aimed to raise priority industry clusters’ contribution to the economy and drive inclusive growth
Consumer News 1. Patronize reputable cargo forwarders
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he Department of Trade and Industry (DTI) reminded overseas Filipinos to patronize reliable and trustworthy freight forwarders as more complaints regarding undelivered balikbayan boxes surfaced. Last June, the DTI endorsed to the Department of Justice (DOJ) four more affidavits of complaint against Pacific Logistics International Cargo and The Filipino Cargo International for appropriate investigation. The DTI-Philippine Shippers Bureau (DTI-PSB) issued formal charges against the two companies for engaging in freight forwarding business without the required PSB-accreditation and for failing to deliver balikbayan boxes to their rightful owners. Ludebar Jakosalem was the known contact person for both firms, which
2. Instant noodles, bottled water now considered basic commodities
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ocally manufactured noodles and bottled water are now included in the expanded list of basic commodities after the Philippine Senate passed on the third and final reading amendments to the Price ActRepublic Act (RA) No. 7581. The amended Price Act will protect consumers from undue price increases during calamity, emergency, widespread illegal price manipulation, and other similar situations by stabilizing the prices of basic necessities and prime commodities. Senate Committee Chair on Trade and Commerce Manuel B. Villar Jr. said the prevalent public
through work opportunities; develop micro, small, and medium enterprises (MSMEs); encourage investments; and increase exports.
consolidate balikbayan boxes in Kuwait for shipment and delivery to consignees in the country. The respondents failed to file an answer or attend scheduled hearings despite the issuance of formal charge, summons, notice of hearings, and order to deliver the cargo. Because of this, the DTI-Consumer Arbitration Officer ruled that both companies were, by default, liable for the charges against them. DTI urged the public to only trust Philippine counterparts or agents that are accredited with DTI-PSB in sending their balikbayan boxes. The Department encouraged the public to regularly check the DTI website www.dti.gov.ph for updates and advisories on delinquent freight forwarders. consumption of instant noodles and bottled water even during relief operations has placed them in the ranks of basic necessities such as rice, corn, bread, fish, pork, poultry, and beef. Aside from noodles and bottled water, other items added to the list are fruits, household liquefied petroleum gas (LPG), and kerosene. Except for the prices of deregulated products like LPG and kerosene which can only be frozen for 15 days, the prices of basic necessities should remain at their levels prior to the declaration of a state of calamity. Violators will face up to 10 years imprisonment and a fine of up to P1M. (TPS 06/10)
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3. Prices of basic goods in Davao Region down in Q1
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he Department of Trade and Industry (DTI)-11 revealed that most of the prices of basic necessities, prime commodities, and construction materials sold in the region decreased in the first quarter of the year. DTI-11’s price trend analysis showed that the prices of powdered filled milk, coffee refill, laundry soap, flour, luncheon meat, instant noodles,
4. May inflation remains flat
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he National Statistics Office (NSO) noted that the prices of goods and services in the country remained flat at 2.6% in May 2013. This happened despite the different price movements in the commodity groups. Indices of food and non-alcoholic beverages and also the housing, water, gas, and other services rated higher. However, the indices of the other seven commodity groups have slowed down. The transportation index declined while the index
5. FDA bans 15 Taiwan food products
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he Food and Drug Administration (FDA) banned 15 food products from Taiwan, which were not registered with the government and were discovered to be contaminated with maleic acid. “Maleic acid is not an approved additive for manufacturing food products. Long term consumption of high levels of maleic acid could harm the kidney,” FDA Acting Director General Kenneth Hartigan-Go said.
vinegar, hollow blocks, common wire nails, steel wire, and steel bars went down. The prices of commodities are comparatively stable and there is ample supply of these goods in the market as retailers perform their weekly/monthly forecasts and keep track on their stock levels vis-a-vis consumer demands, DTI-11 reported. of education stayed on its previous month’s rate. The Development Budget Coordination Committee (DBCC) targets 3%-5% inflation for 2013. This year’s inflation for the first five months averaged 3%. The headline inflation of National Capital Region (NCR) rose to 1.8% in May from 1.7% in April while the areas outside NCR increased to 2.9% in May from 2.8% in April. (TPS 06/05)
Banned Taiwan food products
Hong Tapioca Starch Redman Black Tapioca Pearl Sun Right Indica Rice Powder Top 1 Tapioca Pearls Tea World Tapioca Starch Ball Unbranded Starch Ball Ding Long Tapioca Pearls Sun Chi Noodles T & M Resources Corp. Tapioca Pearls Pure Tea Tapioca Pearls (White) Pure Tea Tapioca Pearls (Black) Full Free Green Tea Tapioca Ball Full Free Yam Tapioca Ball Long Kow Vegetarian Instant Rice Noodle Long Kow Rice Noodle with Thick Soup
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Go also said the Taiwanese government already took action regarding the product manufacturers and they already suspended the sale and distribution of the said contaminated goods.
6. 465,000 Ford vehicles recalled for possible fuel leaks
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Get that exact change
(PDI 06/09)
ord Motor Company announced they will recall some 465,000 of their 2013 vehicles worldwide for a possible fuel leak that can result in fire.
The carmaker also said that they will recall 23 of their 2013 Ford Fusions as they need to fix the steering gears that lack an internal retaining clip, thus increasing the risk of a crash.
They have received complaints from 600 consumers as of March this year but there were still no report of fires, injuries, or accidents.
In addition, 500 of their 2013 Lincoln MKZ sedans provided with engine block heaters are also recalled for faulty electrical cords that might crack during the cold weather.
The recall consists of 420,000 cars from the United States (U.S.), Mexico, and Canada with the rest from overseas covering the 2013 Ford Fusion, Ford Explorer, Taurus, Flex, Interceptor Sedan, Interceptor Utility, and the 2013 Lincoln MKS, MKT and MKZ models.
Features
The FDA said they will continuously monitor the entry of products from Taiwan and advised the consumers to buy products that are only approved and registered by the FDA.
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hortchanging is a violation against the law because businesses who commit this are giving consumers less of what is due them. Needless to say, it is a form of cheating. The law that is being implemented to address this problem is called the “Exact Change Act” which seeks to “(a) prohibit the giving of insufficient change or no change at all to consumers; (b) prohibit the giving of change in any form other than money; (c) require the posting of signs reminding consumers to ask for their exact change; and (d) require the use of price tags, when appropriate, that will reflect the exact price per unit or service, already incorporating the applicable tax or taxes.” Any person or business that violates the Exact Change Act shall be fined P500 for the first offense; P15,000 for the second offense and suspension
Ford informed the public that they would not have enough replacement parts for all the owners until September. (Reuters 06/03)
for three months of their license to operate; and P25,000 for the fourth offense and revocation of their license to operate. In addition to the amount of fines mentioned, the total amount of change that the establishment failed or refused to give, as determined from the audit of the Department of Trade and Industry (DTI), shall be paid by the said establishment to the government, unless it can be determined with reasonable certainty that the change is due and payable to a particular person or persons. Consumers tend to ignore 10 centavos, 25 centavos, or P1 less of their change. What they do not realize is the gravity and implications of committing shortchanging. Imagine a restaurant serving 500 customers a day and all of them get a change short of P1. If you do the
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math, the restaurant gets P500 a day; P2,000 a week; P8,000 a month; and P96,000 a year. This amount could have bought their customers, whom they did not give exact change to, extra decent meals or other valuable products or services. Shortchanging is a trade malpractice. When tolerated by consumers, this malpractice makes it seem acceptable
ASEAN Watch 1. ASEAN economic integration to benefit PHL exporters
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epartment of Trade and Industry-Bureau of Export Trade Promotion (DTI-BETP) Director Senen M. Perlada dispelled the doubts of Philippine manufacturers and exporters about the perceived negative impact of the impending Association of Southeast Asian Nations (ASEAN) Economic Community (AEC) implementation. Perlada stressed that it is not just about creating a single market, but also about creating a single production base that will open up more opportunities for the country.
2. Robust growth seen to prop up real estate
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obust growth forecast within the Association of Southeast Asian Nations (ASEAN) is expected to prop up the real estate sector on the back of strong domestic demand, Jones Lang LaSalle consulting firm reported. In particular, office, industrial and logistics, and retail spaces are expected to experience growth. The Philippines and other ASEAN countries namely, Singapore, Malaysia, Indonesia, Thailand, and Vietnam saw improved demand last year.
by the society when it should be stopped. This also defeats the purpose of putting laws and policies in place to give order to the community. Consumers must realize the importance of asserting their rights. This is one way of achieving a balance between doing business and protecting the welfare of the consuming public.
Also, AEC seeks to become a huge manufacturing center with thin borders, something that local exporters can use as a tool to boost overseas sales. “With regional integration, our production is no longer limited by what we don’t have,” he said. He gave as an example how Philippine furniture makers could source raw wood from other ASEAN member-countries, put value-added to it, and export it as finished products to Japan.
The report said the Philippines, often overlooked by investors, “witnessed record levels in demand for office space, sparking new developments in previously unexplored submarkets and a 3-% rise in rents in 2012.” “Increased consumer spending will boost demand for expanded retail formats, which in turn will support the developments of retail malls and the subsequent accompanying infrastructure in emerging markets,” Jones Lang LaSalle Singapore and Southeast Asia Managing Director Christopher Fossick said. (BWD 06/04)
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3. PHL, ASEAN countries agree to work on common visa
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ourism ministers and officials from Myanmar, Cambodia, Indonesia, and the Philippines signed a deal expressing their intent to facilitate easier travel in the region through a common smart visa system, the World Economic Forum (WEF) reported. “By recognizing the importance of the connectivity in tourism activities, the statement of intent expresses our desire to give a boost to the tourism sector by facilitating the movement of tourists across borders; by going towards a smart visa through adopting best practices and maximizing the use of technology to reduce the inefficiencies of the traditional visa application process,” Department of Tourism (DOT) Secretary Ramon R. Jimenez Jr. said. Association of Southeast Asian Nations (ASEAN) countries are expected to benefit from the new visa system through growth in the tourism sector, increased investments in the industry, and job creation. (TPS 06/05)
4. Japan remains PHL’s top export market
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he Philippines has maintained its strong trade relations with Japan, continuing to be the top export destination for the Philippines, the National Statistics Office (NSO) reported. Total exports to Japan reached USD 942.26M which comprised 23.3% of the country’s total exports for April 2013. Majority of products exported to Japan were electronic products, woodcrafts, furniture and fixtures, and other mineral products. The country takes opportunity with Philippines-Japan Economic Partnership Agreement (PJEPA) boosting its trade relation with Japan.
STATWATCH USD 942.26M PHL exports to Japan which comprise 23.3% of total exports for April 2013 465,000 Number of 2013 Ford vehicles recalled
P300,000 Sales of Tindahang Pinoy-Cebu as of March 2013
P25,000 Fourth offense penalty for violators of the Exact Change Act along with revocation of license to operate
38th PHL’s ranking out of 60 countries in the 2013 World Competitiveness Yearbook (WCY) from 43rd out of 59 countries in 2012
15 Taiwan food products currently banned from the PHL
6.5% Global Source’s 2013 GDP growth forecast for PHL
6.3% DBS Bank’s 8-year growth projection for the PHL
2.6% Inflation rate in May 2013
The United States (U.S.) remained second top market for Philippine products followed by China, Singapore, South Korea, Hong Kong, Thailand, Germany, Taiwan, and the Netherlands. (Balita 06/11) Total exports revenue (April 2013) Country Japan United States China Singapore South Korea Hong Kong Thailand Germany Taiwan Netherlands
Value (in USD M) 942.26 608.11 456.58 303.35 283.57 256.47 147.18 139.80 114.50 110.77
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(A synopsis of selected book acquisitions at the DTI-TIIC library)
Title: Skills Development for Inclusive and Sustainable Growth in Developing Asia-Pacific
Publisher: Asian Development Bank
Author: Meliss Pizana Cruz
Call Number: 45.000/03.01/ADB/2013
Publisher: Anvil Publishing Inc.
This book gives views, perspectives, and insight from policy makers, practitioners, and leading experts on skills development for inclusive and sustainable growth.
Call Number: 15.08/PIZ/2012
Legend: BWD - Business World MAB - Manila Bulletin PDI - Philippine Daily Inquirer TPS - The Philippine Star Balita GMA News GNP Rappler Reuters
Title: The Home Spa: a Recipe Book for Hot Oils, Facial, Body Scrubs, Foot Spa, and so Much More
Entered as Third-Class Mail at the Makati Central Post Office under Permit No. PM-04-08 valid until 31 December 2013
Lists from head to toe treatment recipes which many of the ingredients can be found right in the kitchen.
Philippine Postal Permit No. PM-04-08
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Editor-in-Chief: Anne L. Sevilla Managing Editor: Vic S. Soriano Associate Editor: Resty P. Par Writers: Jam A. Hourani, Hazel S. Dizon, Joanna D. Cruz, Airiz A. Casta, Kit S. Andaya Design/Layout: Ren C. Neneria Circulation: Myrna V. De Los ReyesTo subscribe, email: publications@dti.gov.ph