PH receives USD 185.7M-worth of investments from SG

The Philippines (PH) continues to be an investment destination for Singaporean companies as USD 185.7 million-worth of investment pledges providing 1,920 job opportunities were signed at the sidelines of the 32nd Association of Southeast Asian Nations (ASEAN) Summit on 28 April 2018.

The Department of Trade and Industry (DTI) reported that the investment pledges will cover collaborative works on aviation, solutions for sustainable urbanization, as well as development of marine renewable energy, packaging, film manufacturing, information, communications technology, financial technology, water solutions, prefabricated projects, food, and blockchain technology.

“With our robust bilateral trade and investments ties, we are confident that these new business agreements will even deepen our relationship further. These will push Philippine-Singapore trade engagement to even greater heights,” said President Rodrigo Roa Duterte.

“With these investments coming in, I am fulfilling a personal commitment to my countrymen to bring them more job opportunities. That’s why I am appreciative of your investment in the Philippines. I promise you that when you invest in the Philippines, we will ensure that your investments will be protected,” the President added.

The President witnessed the presentation of six Memorandum of Understanding (MOU) and four Letters of Intent (LOI) signed between the PH business delegation—composed of Filinvest Development Corporation, Everhydro Corporation, Cebu Air, Inc., ICS ICT Support Service Corporation, Ascent Solutions Philippines Inc., and Jollibee Foods Corporation—and Singaporean companies, including Keppel Corporation, OceanPixel, SIA Engineering Company Limited, Hitachi Asia Ltd., Robin Village International Pte. Ltd., Ascent Solutions Pte. Ltd., and Golden Beeworks Pte. Ltd.

Trade and Industry Secretary Ramon Lopez also signed an LOI with the ASEAN Business Advisory Council Chairman Robert Yap, which involves a feasibility study on a suitable site for the implementation of a free online marketplace, SGConnect™ legacy project. 

Sec. Lopez also signed an LOI with Lepack Packaging Pte. Ltd. Director Lim Seong Nam, which will explore opportunities to help and assist micro, small, and medium enterprises (MSMEs) by developing innovative packaging.

In 2017, Singapore (SG) was PH’s 6th trading partner, 5th export market, and 7th import supplier with total bilateral trade valued at USD 9.34 billion. Exports of semiconductor devices manufactured on consignment basis also boosted PH export to SG by 1.16% in 2017.

Likewise, a significant growth of 378% (or Php 2.13 billion in 2017 from Php 444 million in 2016) approved investments from SG was noted in electricity, gas, steam, and air conditioning supply industry.  

Meanwhile, Secretary Lopez encouraged SG’s business community to join PH’s growth story by locating and expanding their businesses in the country.

“There are enormous opportunities for companies partnering with Philippines as the country is on its economic breakout,” said Sec. Lopez.

"The 6.7% GDP growth, increasing consumer base, and highly-skilled and young workforce complement the various reforms and infrastructure programs of the government, as well as new policies in enhancing business environment and competitiveness,” Sec. Lopez added.

The trade chief also highlighted PH’s preferential agreements and market access to Europe, the European Union and United States.

“We are a strategic partner as the Philippines is located at the crossroads of international shipping and airlines, and a natural gateway to the East Asian economies. With our preferential agreements to big economies, we can also provide access to the large US and EU markets,” Sec. Lopez concluded.

Halal Board to Unveil 1st PH Halal Export Develepment and Promotion Road Map

THE Philippine Halal Export Development and Promotion Board, composed of nine government agencies led by the Department of Trade and Industry (DTI), is set to unveil the comprehensive Philippine Halal Export Development and Promotion Strategic Road Map as it holds the first-ever Philippine National Halal Conference on May 2 and 3 in Davao City with the theme “Towards Making the Philippines a Respectable Player in the Global Halal Ecosystem.”

The strategic road map includes the launch of the approved Philippine National Halal Certification Scheme and the Accreditation Guidelines, two of the most important components of the PH strategic roadmap for the Philippines to be recognized as a major player in the global halal ecosystem.

The conference will also gather some of the major Halal global players to share their experiences and best practices in establishing a respectable and sustainable Halal ecosystem in their respective countries through lecture sessions.

Also happening during the conference is the Assembly of the Philippine Muslim Religious Scholars, where information sessions and lectures on development of the Philippine halal export industry in line with the aspect of the Sharia or Islamic law will be conducted. 

According to DTI-EMB, as the Philippines opens its door for the global Halal market, it also widens its horizon as it pursues cooperation from the global halal community.

During the sixth Halal Export Board meeting held on March 21 this year, the Board emphasized the need for the Philippine standard-setting bodies, such as the DTI, the Department of Agriculture and the Department of Health to develop the necessary standards for Philippine Halal to be recognized in the global halal ecosystem.

“With the first Philippine National Halal Conference, we are eyeing heightened collaboration among key stakeholders and institutions that will work together in the promotion and development of the Philippine Halal exports sector,” said DTI Trade and Investments Promotion Group Assistant Secretary Abdulgani Macatoman.

In April last year, the Philippines, represented by DTI Secretary Ramon M. Lopez, and Brunei Darussalam, represented by Pehin Dato Dr.  Mohammad Yasmin Umar, the minister of Energy and Industry at the Prime Minister’s Office, signed a memorandum of understanding (MOU) on the Halal Industry and Halal Export Development and Promotion.

The Philippines also signed a membership with the International Halal Accreditation Forum in December 2017. IHAF is an independent, non-government network of accreditation entities that are mandated to enforce halal standards in their countries and territories. The Philippine affiliation to IHAF is expected to pave the way for the entry and acceptance of Philippine halal-certified products to the member markets of the organization.

A similar instrument was forged between the Philippine Accreditation Bureau of the DTI and the United Arab Emirates Standardization and Metrology Authority of the UAE government on mutual recognition for Halal accreditation last February 2018 in Dubai.

Over 350 participants composed of Philippine micro, small, and medium-sized enterprises (MSMEs) with halal-certified products and services, including travel and tourism services sector; representative from government agencies; Philippine halal certification bodies; academe; Muslim and interested non-Muslim consumers; Muslim religious groups; concerned civil society groups; international major halal players; and other stakeholders are expected to attend the event.

Work Fun Day at SM Supermalls this May 1!

Lauding the dedication of hardworking Filipinos, SM Supermalls brings to customers the first Work Fun Day at SM celebration, delighting mallgoers with fun-filled activities, surprises and deals in 68 malls happening this May 1!

You can take your friends and the whole family to a fun day at the mall and begin the excitement by indulging in delicious dishes. From best-loved restaurants to discovering new flavors, gastronomic experiences await customers across the malls nationwide.

Looking for more mall adventures? You can invite loved ones to go bowling, ice skating, and even catch the latest movies at your favorite SM mall. These indoor activities are great ways to be entertained away from the summer heat.

There is also the Work Fun Bonus at The SM Store on May 1, where shopper can get a free P100 gift coupon with a minimum single-receipt purchase worth P3,000, and SM Advantage card holders get twice the fun with a P200 gift coupon.

Ongoing summer-themed #LetsPlayNowAtSM events are also set to treat everyone with interactive games and digital attractions for instant discounts and giveaways.

Don’t forget to spend time with your loved ones on May 1 and celebrate Work Fun Day at SM!

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