BusinessWorld Online: Economy

The unheard voices of Visayas-Mindanao importers

Economy

Feb 012016

In August 2015, the Cebu Chamber of Commerce and Industry (CCCI) together with the Financial Executives Institute of Cebu, Inc. (FINEX Cebu), the Confederation of Philippine Exporters Foundation (Cebu), Inc. (PHILEXPORT Cebu), and the Philippine Institute of Certified Public Accountants — Cebu Chapter (PICPA — Cebu) submitted a position paper to the Department of Finance (DoF) requesting amendments to the Bureau of Internal Revenue Importer Clearance Certificate (BIR-ICC) and BIR Customs Broker Clearance Certificate (BIR-BCC) requirements in relation to the accreditation of the importer and customs broker, respectively. To date, the petitioners have not received feedback from the DoF. Hence, I reprint below the significant parts of the position paper.

Submission of prison PPP bids postponed to March 7

Economy

Jan 312016

THE DEPARTMENT of Justice’s (DoJ) procurement body has moved to March 7 the submission of bids for the P50.2-billion prison facility to be built via public-private partnership (PPP).

Import growth, cheap oil lure investors: DoF

Economy

Jan 312016

THE PHILIPPINES could cite robust domestic demand and depressed oil prices as selling points in attracting more investments that could subsequently cushion the possible retrenchment of overseas Filipino workers (OFWs) in the Middle East amid the oil price slump, the Finance department’s chief economist said.

BEPS action plan 14: Making dispute resolution mechanisms more effective

Economy

Jan 312016

(First of two parts) In our previous columns, we discussed the final reports of the Organisation for Economic Co-operation and Development (OECD) on the different action plans to address Base Erosion and Profit Shifting (BEPS). We will now focus on Action 14, which reflects the commitment of participating countries to implement substantial changes in their approach to dispute resolution.

Inclusive growth still a ‘pressing’ issue — DoF’s Beltran

Economy

Jan 292016

INCLUSIVE GROWTH will remain a “pressing” issue for the Philippines, according to the Finance department’s chief economist, despite an economic performance believed to have stood out in Asia last year.

SC upholds award of Cebu airport deal to GMR-Megawide consortium

Economy

Jan 292016

THE Supreme Court has upheld the decision of the Department of Transportation and Communications (DoTC) to award the Mactan-Cebu International Airport (MCIA) modernization project to the consortium of Megawide Construction Corp. (MCC) and India’s GMR Infrastructure Ltd.

World Bank gives PHL poor score in agriculture

Economy

Jan 292016

THE PHILIPPINES scored below average in “enabling” agribusiness in areas dealing with production and marketing, importation of fertilizers and transportation of agriculture goods, among others.

First GSP+ report card’ notes PHL progress on rights, labor

Economy

Jan 282016

THE EUROPEAN Commission has adopted its first monitoring report on the Generalized System of Preferences (GSP) that included an assessment of the Philippines’ implementation of 27 international conventions.

Davao power utility scrambling for more supply

Economy

Jan 282016

DAVAO CITY — Davao Light and Power Co. (Davao Light), an electricity distributor of Aboitiz Power Corp. (AboitizPower), is contracting 112 megawatts (MW) from two generating companies to make up for the more than 60% drop in its allocation from the Mindanao grid.

DA to seek P1B for four more fisheries vessels; denies aggressive intent

Economy

Jan 282016

THE DEPARTMENT of Agriculture (DA) said it will seek about P1 billion from Congress to build four upgraded multi-purpose fisheries vessels, just as it commenced with the construction of a class of two less-capable boats, which cost nearly P360 million.

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