ACCORDING to the Philippine Board of Investments (BOI), the country recorded a P195.7 billion worth of investment approvals for the January to April 2018 period, an increase of 28 percent compared to the same period last year where it posted P153.1 billion.
Trade Undersecretary and BOI Managing Head Ceferino Rodolfo is quoted in the BOI website elaborating that the bulk of the investment projects for the month of April came from the six air transport projects of Philippine Airlines, Inc. with a combined investment amount of P19.05 billion while the biggest single project approved is a P5.2 billion public-private partnership (PPP) known as the Paranaque Integrated Terminal Exchange in Coastal Road.
The renewable energy/power sector remained as the number one source of investments followed by the transportation and storage sector.
Manufacturing investment projects meanwhile reached a three percent uptick from last year’s P15.4 billion and the water supply, sewerage and waste management Sector trailed at P13.9 billion and real estate at P12.7 billion rounding up the top five sectors. This development complements the administration’s flagship program on Build Build Build.
Relative to this, Secretary Ramon Lopez met with his Danish counterpart, Minister for Industry, Business and Financial Affairs Brian Mikkelsen, to discuss trade and investment opportunities between the Philippines and Denmark concerning the government’s massive infrastructure program.
Mikkelsen according to a DTI news release praised the country’s economic growth of 6.7 percent and said that they want to be part of the development happening around.
He also expressed interest in bringing construction firms to participate in Build, Build, Build infrastructure program of the Duterte administration.
Along with the current developments in some sectors like the tourism industry, the Department of Trade and Industry (DTI) has unrolled programs and projects to assist Boracay residents, especially the micro, small, and medium entrepreneurs (MSMEs), following the island's closure last April.
Various skills training were offered to the residents like screen printing and siomai making. There were also online marketing awareness seminars and consultations on the government's Pondo sa Pagbabago at Pag-Asenso (P3) Financing Program, as well as Trademark Registration.
The Micro, Small and Medium Enterprise Development (MSMED) Council in their 9th council meeting at Makati on 9 May 2018 discussed the MSMED Plan for 2017-2022 that highlighted its strategic goals on improved business climate, improved access to finance, enhanced management and labor capacities, improved access to technology and innovation and improved access to markets. Trade and Industry Secretary Ramon M. Lopez serves as the Chairperson of MSMED.
The Barangay Micro-Business Enterprise (BMBE) Law. One can avail of the incentives under the BMBE Law that include exemption from payment of income tax for income arising from the operation of the enterprise, exemption from the coverage of the minimum wage law, special credit window from government financing institutions that will service financing needs of BMBEs, business assistance from other government institutions, as well as technology and marketing assistance.
A micro business or enterprise is defined as any business activity or enterprise engaged in industry, agribusiness and or services, whether single proprietorship, cooperative, partnership or corporation whose total assets, inclusive of those arising from loans but exclusive of the land on which the particular business entity’s office, plant and equipment are situated, must have value of not more than 3 million Pesos.
BMBE certificates are registered free of charge at the Department of Trade and Industry offices or Negosyo Centers.
DTI is the sole agency which shall issue a Certificate of Authority (CA) to registered BMBEs at Negosyo Centers or at DTI offices however, BMBEs must register at the city or municipal treasurer’s office where the business is located.
In another development, the DTI and the Construction Industry Authority of the Philippines (CIAP) in collaboration with the Philippine Constructors' Association, Inc. and other construction-related organizations had a stakeholder’s consultation in preparation to the drafting of the Philippine Construction Industry Roadmap. Said roadmap will showcase essential development goals, policies, programs, strategies and targets until 2022 that will allow for the smooth and accelerated growth of the construction industry.
Over the weekend, my wife and I drove to the Church of the Nazarene located at the far end of Nalseb, Tublay, Benguet to visit a relative and also spend time with the Benedictine Sisters. We noticed road widening and concreting projects and what used to be narrow and bumpy trail that connects Tublay to Bokod and further down to Nueva Viscaya will soon have a faster ride and lesser travel time.
I also look forward to motoring to the towns of Cervantes and Suyo of Ilocos Sur and visit relatives passing by the upland towns of Buguias and Mankayan as these routes are by now passable by light vehicles.