Zigmatrade/Zigma

Cargo vessels are docked at a private port in Brgy. Sasa, Davao City. Philippine Exporters Confederation Inc. (Philexport) bared that exports have risen from a 50-percent plunge in April 2020 to an 18-percent year-on-year increase up to September this year, marking the seventh consecutive month of improved performance. Edge Davao

Exporters group says digital technology key to recovery

The Philippine export industry is recovering from the pandemic’s impact and is expected to further grow as economies open worldwide while stakeholders embark on a digitalization and business continuity program.

The lowering of the alert levels toward the full re-opening of the economy, coupled with fast-tracking of the vaccination program, are critical interventions to help achieve our recovery and growth targets, Philippine Exporters Confederation Inc. (Philexport) chair George Barcelon said during the Pilipinas Conference, held virtually on November 22 to 26.

Barcelon said exports have risen from a 50-percent plunge in April 2020 to an 18-percent year-on-year increase up to September this year, marking the seventh consecutive month of improved performance.

He said electronics is expected to continue to be the biggest dollar-earner, with industrial, medical, automotive, and telecom electronics products as growth drivers.

With the sector’s continued recovery, Barcelon said the export industry group is implementing the Future-Ready (P30) program using two strategies: technology and closer collaboration with partners.

The program features five components -- the AI-powered Philexport portal, business continuity plan, The Road to FIRe (Fourth Industrial Revolution) Project, Thematic Clusters, and Export Connect.

The portal features relevant information, business matching, online transactions with Philexport, and promotion and marketing, among others.

Members with no website or who wish to have an expanded virtual presence may use the portal as a microsite or as a template for their own portal, Barcelon added.

Through the second component of the P30 program, Barcelon said they hope to assist interested members to transition to the FIRe.

“At Philexport, we have also started the digitization of files and (are) now moving to the development of systems that will support the portal and our online operations. We also intend to share these templates with our BSOs (business support organizations) and company members,” he said, adding that the business continuity plan covers physical and infrastructure.

House panel OKs higher discount for senior citizens’ electricity, water bills

The House Ways and Means Committee approved the tax provisions of the measure which seeks to increase the rate of discount being granted to senior citizens on their monthly electric and water consumptions.

The substitute bill to House Bills 1903 and 3040 was approved during a panel meeting on Monday. It seeks to amend for the purpose Republic Act 7432, as amended, otherwise known as the Expanded Senior Citizens Act of 2010.

The tax provision states “the grant of a minimum 10% discount relative to the monthly utilization of water and electricity supplied by the public utilities and exemption from the value added tax: Provided, that the individual meters for the foregoing utilities are registered in the name of the senior citizen residing therein: Provided, further, that the monthly consumption does not exceed 150 kwh of electricity and 30 cubic meters of water.”

“Provided furthermore, that the privilege is granted per household regardless of the number of senior citizens residing therein and that the registered senior citizen continues to live within the household address.”

The Department of Finance (DOF), however, raised concerns on the proposed measure, noting that this could lead to abuses by some households.

“First, the proposal may be inconsistent with the objectives of the TRAIN Law to improve the efficiency of the VAT system as it adds exemptions to a specific group of individuals,” DOF’s Lyonel Tanganco said. Due to the emergence of the new Omicron variant and the latest Swiss government’s travel restrictions, the highly anticipated 12th Ministerial Conference of the World Trade Organization (WTO) on Nov. 30-Dec. 3, 2021 in Geneva, Switzerland was indefinitely postponed.

The Ministerial Conference is expected to tackle several key trade and investment issues necessary to enhance international trade rules and address the challenges brought about by the Covid-19 pandemic.

Among the expected outcome of the conference would be the conclusion of the Fisheries Subsidies negotiation and Ministerial decisions or statements on trade and public health including access to vaccines and medicines, e-commerce, investment facilitation, and services domestic regulations.

Department of Trade and Industry (DTI) Secretary Ramon Lopez said the Philippines has been fully engaging and was looking forward to the said conference to secure its national interest amidst shared global challenges including on the pandemic.

However, he said he fully understands and agrees with the postponement, considering the tightened travel restrictions imposed by the Swiss government and the health risk for the delegates, posed by the new Covid-19 variant Omicron.

Among the issues that the Philippines will be pushing are decisions on trade and health initiatives that would make vaccines and therapeutics more inclusive, and the conclusion of fisheries subsidies negotiation.

“Access to safe, effective affordable and high-quality diagnostics, therapeutics, and vaccines has been a consistent policy advocated by President Duterte, Foreign Secretary Locsin and DTI across all fora such as in the recent meetings of Asia-Pacific Economic Cooperation (APEC), Association of Southeast Asian Nations (Asean) and in bilateral engagements, and a concrete decision at the WTO forum on trade and health would have been a milestone in addressing this objective,” Lopez said