Chinabank is 2023 Employer of the Year

China Banking Corporation (Chinabank) was named as the 2023 Employer of the Year in the Philippines by the People Management Association of the Philippines (PMAP).

The prestigious Employer of the Year (EOY) award represents a standard for excellence in people management. Chinabank, the only bank to win this coveted award in the last 30 years, was recognized during the 60th PMAP Annual Conference Awards Night on October 26, 2023 at the Waterfront Hotel in Cebu.

“Our legacy is not just about banking, it's about people. This achievement reflects our commitment to the wellbeing and happiness of Chinabankers and to creating an empowered and inclusive workplace,” President & CEO Romy Uyan said.

PMAP received a total of 77 nominations from all over the country for the three Award categories—Employer of the Year, People Manager of the Year, and People Program of the Year. There were 33 nominations for the EOY category, which were evaluated based on the following criteria: strategic business management and HR partnership, performance focus, HR competence and credibility, leadership focus and approaches, people engagement, and risk management and sustainability.

The rigorous evaluation process narrowed down the list to seven Regional Exemplars, including four Exemplar Employers that vied for the EOY award—Chinabank, Manila Water Company, Inc., Murata Philippines, and Rizal Commercial Banking Corp.

PMAP is the premier group of companies and professional management executives engaged or interested in Human Resource Management and Industrial Relations work in the Philippines. Now on its 47th year, the PMAP Awards program continues the tradition of recognizing the best practices in the people management profession for others to emulate.

DTI Chief and SB Corp Chairman Convenes SB Corp Board of Directors

Department of Trade and Industry (DTI) Secretary and Small Business Corporation (SB Corp) Chairman Ramon Lopez on September 13, 2019 convened the Corporation’s Directors and Officers to discuss SB Corp’s loan programs for micro, small and medium enterprises (MSMEs), especially the administration’s landmark program Pondo sa Pagbabago at Pag-asenso (P3). The P3 program has extended financing assistance to over 96,000 micro entrepreneurs as the government's flagship program that aims to topple loan sharks has widened its reach throughout the country since its inception in 2017. As of September 16, 2019, the SB Corp has released a total of P3.3 billion worth of loans to micro entrepreneurs through its 378 credit delivery partners that has reached rural and far-flung areas in the country. Under the P3 Program, a micro enterprise can borrow between P5,000 up to P200,000 depending on its business need and repayment capacity with no collateral requirement.  Interest rate and service fees, all in, do not exceed 2.5% monthly. The P3 Program serves as an alternative to the P30 billion “5-6” money lending industry that charges 20% nominal interest rate to MSMEs. Led by SB Corp Chairman and Trade Secretary Lopez (center, seated), in photo are (seated from L-R) SB Corp Director Merly Cruz, SB Corp President and CEO Ma. Luna Cacanando, DTI Undersecretary for Regional Operations Blesila Lantayona, and Department of Finance Representative Reina Cuarez. (Second row) Directors Joe Jay Doctora, Santiago Lim, Benel Lagua, Ferdinand Tolentino, and Manuel Bendigo.

DTI Chief: PH Gov’t to Pursue Reforms to Seize Opportunities from US-China Trade War

MALACAÑAN – According to Trade Secretary Ramon Lopez, the government needs to pursue more reforms to take advantage of opportunities resulting from the ongoing US-China trade war.

Sec. Lopez said that the Cabinet decided to adopt the recommendations of the Department of Trade and Industry (DTI) and the National Economic Development Authority (NEDA) during a joint presentation at the 41st Cabinet meeting last 4 September. The proposed solutions require a whole-of-government approach and involve several government agencies aside from DTI and NEDA.

PH is the second-best Asian export performer, with a merchandise export growth of 1.2% in the 2nd quarter of 2019. Among 11 Asian countries measured, PH, Vietnam, and Malaysia were the only countries with positive growth. Meanwhile, China, Chinese Taipei, Japan, Thailand, Singapore, Hong Kong, South Korea, and Indonesia reported contractions in merchandise exports.

“The Philippines is not as vulnerable as other countries, as exports only account for 15% of our GDP. But a prolonged trade war will eventually affect our export growth,” said Sec. Lopez.

Sec. Lopez added that the trade war is “an opportunity for the Philippines to attract more export-oriented manufacturing foreign direct investments. However, it is necessary to address key constraints in attracting investors to the country.”

Board of Investments-approved projects from the US and China are growing, albeit at different rates. US investments grew by 7.3% from PHP583 million in 2017 to PHP625 million in 2018. Meanwhile, Chinese investments grew by 8,364% from PHP576 million in 2017 to PHP48.74 billion in 2018.

To achieve this goal, DTI and NEDA proposed recommendations, ranging from short-term to long-term strategies, said the Secretary.

DTI is already implementing some of the short-term strategies, like eliminating investor uncertainty by supporting the passage of the Corporate Income Tax and Incentives Rationalization (CITIRA) Act, and to further liberalize the market through amending the Foreign Investment Act, Public Service Act, and Retail Trade Liberalization Act.

To improve ease of doing business, Sec. Lopez said the gov't is seeking to expedite web-based solutions by establishing a Central Business Portal and fully-operationalizing TradeNet, the government’s online platform for trading permits.

In tandem with these are recommendations to ensure national security and peace and order considering the rising investments from China and to assist local workers who will be displaced due to the trade war.

Lastly, Sec. Lopez said DTI will continue its “Last Touch” trade strategy, which aims to integrate PH in regional value chain production networks to enhance local value-added and attain the best access to major markets. The agency does this by deepening regional partnership through the Regional Comprehensive Economic Partnership (RCEP), while pursuing trade agreements with countries outside the Asia-Pacific region.

The Secretary likewise related long-term strategies like the collaboration of different government agencies to improve the country’s business climate. By developing state-of-the-art ports, airports and guaranteeing affordable and reliable energy throughout the country, investors will be encouraged to locate in emerging hubs outside of Metro Manila.

To improve the Philippine human capital, DTI and NEDA suggested to equip students and workers with the skills needed the Fourth Industrial Revolution (Industry 4.0). There should also be a government-led effort to promote innovation by building regional inclusive innovation centers (RIICs) in major cities and provinces. These RIICs will serve as a hub for startups and partnership projects among the industry, government, and academe.

DTI will also lead in linking domestic Micro, Small, and Medium Enterprises (MSMEs) with global businesses. The agency will also partner with other concerned agencies to strengthen national quality infrastructure for standards setting, testing and accreditation, and metrology to create more competitive products and industries.

Sec. Lopez said that these initiatives will not only shield the Philippines from the worst effects of the US-China trade war but will also improve the country’s attractiveness to foreign investors in other countries in general.

He added that attracting foreign investments is part of President Rodrigo Duterte’s promise of a more comfortable life for all Filipinos by providing decent job and livelihood opportunities.

TPB Intensifies Efforts to Increase Chinese Tourist Arrivals

The Tourism Promotions Board (TPB) Philippines, the marketing arm of the Department of Tourism, recently joined ITB China which took place in Shanghai as part of its initiative to capture a bigger chunk of 129 million Chinese tourists travelling abroad in the past two years.
In 2017, about 960,000 Chinese tourists visited the country and more than 1.2 million in 2018. TPB hopes to increase Chinese tourist arrivals through its active and consistent participation in ITB China, the largest and fastest growing source market in the travel industry. For 2019, the event had an estimated 15,000 attendees, and approximately 800 exhibitors from 84 countries and 850 buyers from the biggest Chinese travel companies.

This year, the Philippines targets hitting 1.5 million Chinese traveler arrivals and an additional increase of 19.5% by 2022 upon completion of all tourism development plans, which will highlight all the natural wonders of the country.

The travel and tourism sector remains to be one of the important drivers in the country’s economic growth. It continues to create jobs and boost real estate with the influx of foreign and domestic travelers increasing demand for new properties, specifically hotels and resorts.
Through the ITB China, TPB amplified awareness on the country’s beautiful destinations and many offerings with booth activities that put spotlight on why “It’s more fun in the Philippines!”

A country made up of more than 7,000 islands consisting of beautiful pristine beaches, home to some of the most expansive shopping centers in the world, and offering a dozen of adventure-laden activities, the Philippines is, without a doubt, more than ready to open its doors for more foreign visitors.

FFCCCII Helps Rehabilitate Fishing Boat & Supports Livelihood of 22 Fishermen

In response to the June 9, 2019 unfortunate incident involving 22 Filipino fishermen and their fishing boat at Recto Bank (Reed Bank), the Federation of Filipino Chinese Chambers of Commerce and Industry, Inc.(FFCCCII)---as an organization which advocates Philippine social and economic progress---is today June 28, 2019 giving our immediate assistance and support to our fellow countrymen the 22 fishermen.

We at the FFCCCII are donating P1,200,000.00 pesos for the complete rehabilitation of their damaged fishing boat, and we are also donating P250,000 pesos as livelihood assistance for the 22 fishermen.

We the FFCCCII shall also allocate a donation of five (5) public school buildings from our nationwide civic project “Operation Barrio School” for San Jose municipality, Occidental Mindoro province through our local chapter the Mindoro Filipino Chinese Chamber of Commerce.

The FFCCCII as a Filipino business and civic organization, we give this assistance to our fellow countrymen in distress---the fishermen, the fishing boat owner and their families---hoping that this humanitarian act can help alleviate their plight.

We express our sincere concern for their welfare and our solidarity with them.

PH Merchandise Exports up in the Third Quarter – DTI

The Department of Trade and Industry (DTI) assessed that Philippine merchandise exports rose 0.3% year-on-year (yoy) in the third quarter of 2018, a positive turnaround following its 1.3% yoy decline in the second quarter and 5.5% yoy contraction in the first quarter of the year.

PH’s third-quarter merchandise export performance was largely driven by positive yoy growth in the country’s exports of manufactured goods—led by electronics—with increased exports to the United States (US), China, Hong Kong, and Singapore. In the third quarter, merchandise exports were up in July (+0.3% yoy) and also in August (+3.4% yoy) that combined outweighed its September’s fall (-2.6% yoy), which was partly induced by weakening of global manufacturing activity amid escalating trade tensions between US and China.

“The country’s merchandise export performance has been improving on a quarterly basis since the start of 2018. Its growth turned positive in the third quarter after registering negative growth in the first two quarters of the year,” said DTI Secretary Ramon Lopez.

Sec. Lopez added: “The PH government has long-term plans and roadmaps to help expand the country’s manufacturing and production base, and promote the diversification of merchandise exports. Through these policy initiatives and programs, merchandise exports will grow further and in turn will narrow the trade-in-goods deficit. We need to expand our manufacturing base to meet as well the growing domestic demand for both consumption goods and intermediate goods.  In the short-term, we are trying to address supply chain issues and maximizing whatever limited budget given to promote our exportables in foreign markets through trade fairs and expos like the recently held China International Import Exposition (CIIE) that contribute to increasing our export sales abroad.”

DTI Chief Promotes ASEAN Economic Integration: Joins ASEAN Ministers in Signing E-Commerce Agreement, in Enhancing Agreements on Services Trade and Investment

SINGAPORE — Department of Trade and Industry (DTI) Secretary Ramon Lopez joined other ASEAN Economic Ministers (AEM) at the Preparatory AEM Meeting and the ASEAN Economic Community (AEC) Council during 11-12 November in Singapore.

In this event, the ministers signed the ASEAN E-Commerce Agreement; announced the conclusion of the negotiations for the ASEAN Trade in Services Agreement (ATISA); and finalised the Fourth Protocol to Amend the ASEAN Comprehensive Investment Agreement (ACIA).

Secretary Lopez noted two major benefits from the e-commerce agreement: “It has elements that provide protection and safeguards to consumers to build trust and confidence in e-commerce. Likewise, it facilitates more MSME access to the ASEAN market.”

Meanwhile, ATISA aims to deepen services sectors in ASEAN, while ACIA will help maintain the attractiveness of the region as an investment destination.

“ASEAN is on the drawing board to ‘future-proof’ the regional economy,” said DTI Secretary Lopez.

Among the other topics that were discussed include Global Value Chains (GVC), Innovation, Digital Economy, and 4th Industrial Revolution (4IR), among many others.

“A priority in our engagement in the AEC is to pursue the agenda on Inclusive Globalization. We can use our international and regional engagements as a tool to alleviate poverty and sustain our economic growth and development,” explained Sec. Lopez.

He added that ASEAN can play an important role in preserving a rules-based global trading order and provide the necessary boost to the world economy, amid the increasing threat of escalating trade tensions and continuing global uncertainties.

DTI CHIEF OPENS PH NATIONAL PAVILION IN CHINA EXPO

SHANGHAI – Department of Trade and Industry (DTI) Secretary Ramon Lopez opened the Philippine (PH) National Pavilion at the China International Import Exposition (CIIE) on 6 November. This aims to improve the market access of PH products into China. CIIE runs from 5 to 10 November and features 3,000 exhibitors from 130 countries.

“The Philippines appreciates the Chinese government’s thrust to deepen its globalization commitment.  CIIE is China’s way of conveying to the world that it is ready to open more its market and encourage more exporters to China,” said the DTI Secretary, Sec. Lopez added: “It sends a strong signal to the world that China would also like to help balance trade with its trading partners as China believes in promoting globalization that's is more inclusive, to achieve the goal of having shared prosperity with other countries.”

The 136-square meter PH national pavilion, themed “Partner Philippines: Building Value Together,” showcases the country’s initiatives in trade, investment, and tourism. It features 10 partner government agencies and companies as well as 11 universities. These universities are promoting their undergraduate and graduate programs, as well as English as a Second Language (ESL).

Aside from the national pavilion, there are 36 booths in the Enterprise Zone featuring Filipino exhibitors: 28 for food, five for consumer goods (apparel, accessories and consumer goods, electronics, automobile, and information technology), and three for services (tourism and service outsourcing).

Sec. Lopez cited the close trade relations between PH and China. China is PH’s largest import partner at US$ 17.5 billion in 2017 and fourth-largest export market at US$ 8 billion in the same year.

Also present at the opening ceremonies were PH Ambassador to China Jose Santiago Sta. Romana, Ministry of Commerce of the People's Republic of China (MOFCOM) Trade Director General for Asian Affairs Peng Gang,  Former Commercial Counselor of China to the Philippines and MOFCOM Director General for Foreign Trade Development Bureau Wu Zhengping, Special Envoy to China Carlos Chan, DTI Undersecretary Nora Terrado, and DTI-CITEM Executive Director Pauline Juan.

The Philippine participation to the CIIE is spearheaded by the DTI, in cooperation with the following government and private sector partners: Department of Science and Technology (DOST), Department of Agriculture (DA), Commission on Higher Education (CHED), Department of Tourism (DOT), the Tourism Promotions Board (TPB), Philippine Chamber of Commerce and Industry (PCCI), Philippine Airlines, Federation of Filipino-Chinese Chambers of Commerce and Industry, Anvil business club, Philippine Franchise Association and the Integrated Development Studies Institute.

DTI set to Participate at China’s Largest Expo

As  the Philippines’ main export and investment promotion agency, the Department of Trade and Industry (DTI) has organized the country’s participation in the first China International Import Expo (CIIE) on November 5 to 10, 2018 at the National Exhibition and Convention Center in Shanghai, China.

This is in line with the DTI’s aim to further penetrate the huge Chinese market through country participation in trade expositions and facilitation of its business-to-business linkages.

Dubbed as China’s largest expo, more than 100 countries are anticipated to join the CIIE, while over 100,000 professional Chinese buyers have registered to attend the event.  The week-long expo will also include side activities such as business matching meetings as well as trade and investment forums.

Philippine Trade and Industry Secretary Ramon M. Lopez will lead the country’s CIIE participation this year, along with DTI Trade and Investments Promotions Group (TIPG) Undersecretary Nora K. Terrado.

“China is a priority market for the Philippines and we want to push for exports of our products and services. We are also keen on attracting Chinese investments,” said Lopez.

Under the theme: “Partner Philippines: Building Value Together,” the Philippine National Pavilion will showcase at CIIE the country’s initiatives in the areas of trade, investment, and tourism.

The highlights of the major pavilion also include traditional Filipino performances and a video installation depicting the milestones of Philippine-China relations, which dates back to the 16th century.

Meanwhile, Sec. Lopez and Usec. Terrado will represent the country at the Hongqiao International Forum and at the official opening ceremony of CIIE, which will be presided by Chinese President Xi Jin Ping on November 5, 2018.

“Our Philippine Trade and Investment Centers in Beijing, Guangzhou, and Shanghai will be arranging business meetings for our major Chinese buyers and our Filipino exhibitors during the CIIE,” said Terrado.

“We will gauge our success by the number of new business connections that we will be able to establish during this CIIE participation,” she added.

As part of the country’s goal to cater to the diverse Chinese consumer market, a total of 36 Filipino exhibitors are set to feature top-notch products and services from the Philippines.

Out of the 36 exhibitors, 28 will promote food products including snacks, alcoholic beverages, coconut, mango, nuts, chocolates, and coffee at the Food and Agricultural Products Halls 7.2 and 8.2.

China currently serves as a top export market destination for the Philippines, with $940 million or 15.3 percent of the latter’s total exports in August, according to the latest trade data by the Philippine Statistics Authority.

This recorded a 34.4-percent increase from the export value of $699.5 million in the same month last year.

Strategic Partnership Conference

Zhejiang Narada Power Source Co., a Chinese company known for specializing in energy storage, is coming to the Philippines. In a strategic partnership with iEZ Global Inc. and Hong Kong holding company Dios, Narada aims to address the Philippines’ issues with power storage

With over USD6billion in net assets, Narada Holdings is a multi-faceted company founded in China. Aside from the Zhejiang Narada Power Source Co., Narada ElectrochemicalPower products, and the Narada Foundation, it has assets dedicated to financial services, infrastructure projects, property and hotel management, and lead recycling. Narada Power was established in 1994 and listed on the Chinese Securities Regulatory Commission in 2010. In 2016, the company generated USD1.0billion in revenue with USD1.4billion in total assets. Narada Power currently employs approximately 6,311 employees and 3% of its sales is invested in research and development.

Narada’s mission is to be a provider for a complete power solution for the world with a vision to be a respected global player for energy storage solutions.