DTI assures solons of nonstop drive vs. illegal vape products

The Department of Trade and Industry (DTI) on Friday vowed to boost its campaign against the sale of vape and e-cigarette products that are in violation of Republic Act (RA) 11900 or known as the Vape Law.

DTI Assistant Secretary Ann Claire Cabochan made the assurance during a public hearing conducted by the Senate Committee on Sustainable Development Goals, Innovation and Futures Thinking chaired by Senator Pia Cayetano.

During the hearing,

Cabochan said they have found some sellers, particularly in the National Capital Region, who continue to sell vape products in facilities within the 100-meter radius frequented by youths; with designs and flavor descriptors attractive to youths; and without the required textual warning signs.

“I think there have been 23 firms. So, a total of 16 show cause orders were already issued by the Fair Trade Enforcement Bureau,” Cabochan said answering the query of

Senate Majority Leader Joel Villanueva.

She added that the DTI had already sent official notices to regional and provincial offices of online selling platforms urging them to comply with RA 11900.

The DTI official also assured that within the first semester of the year, the agency will issue the Philippine National Standard on Novel Tobacco Products.

Villanueva had earlier expressed disappointment over the rampant selling of vape flavors with descrip-

PH nets $793-M FDIs in Nov. ‘22

Net foreign direct investments (FDIs) in November 2022 stood at USD793 million, the Bangko Sentral ng Pilipinas (BSP) reported Friday.

The central bank said net FDI inflows last November declined by 43.6 percent from USD1.4 billion net inflows in the same month in 2021.

“This resulted from the drop in non-residents’ net investments in debt instruments and reinvestment of earnings. Meanwhile, net placements of equity capital rose year-on-year for the third consecutive month,” the BSP said in a statement.

Rizal Commercial Banking Corp. (RCBC) economist Michael Ricafort said the drop in net inflows may be attributed to higher base effects in November 2021, when appetite for investments went back after the onset of the pandemic in 2020.

Singapore and the US. Top sectors with equity capital placements for the month include manufacturing, information and communication, and real estate industries.

“The year-to-date FDI net inflows likewise declined by 13.4 percent to USD8.4 billion from the USD9.7 billion recorded in the first eleven months of 2021. By component, non-residents’ net investments in debt instrument and reinvestment of earnings declined while their net placements of equity capital increased during the period,” the central bank said.

Meanwhile, RCBC’s Ricafort said the recent foreign trips of President Ferdinand R. Marcos Jr., including his five-day official working visit to Japan this week, posed positive prospects for the country’s FDI inflows in the future.

tors that are appealing to minors which is a clear violation of RA 11900.

“We reiterate our call, madam chair, on the concerned government agencies, especially the DTI, to give us a clear and definitive answer in these proceedings as to why the proliferation of these prohibited products was allowed. We also like an immediate resolution of this issue pursuant to the provisions of the law, even as we await the recommendations of the committee,” Villanueva said.

“The slowdown in the net FDI data may also have to do with higher short-term interest rates and the peak in long-term interest rates in the United States/globally/ locally around October-November 2022,” Ricafort said, adding these developments increased borrowing costs.

He added the possible recession in the US also dragged the investment activities at the latter part of 2022.

Further, the BSP reported that top sources of equity capital placements in November 2022 include Japan,

“Investment commitments, especially if realized/ monetized, from the various foreign trips by the new administration could also help generate more investments (FDIs), jobs/employment, infrastructure spending/projects, trade (exports and imports), foreign tourism, and business/economic opportunities that add to the overall economic/GDP growth and development, as well as support higher investment valuations, thereby also supporting sentiment on the local financial markets,” Ricafort added. (PNA)