February 2017 – Page 6

Dear PEZA… Love, unregistered activities

Economy

Feb 132017

February 14, Valentine’s Day. To some of us, it’s the most romantic day of the year. Others dread it. But to Philippine Economic Zone Authority (PEZA)-registered entities, it’s a mere 14 days before the submission of its latest requirement. PEZA doesn’t like playing Cupid as its Enterprise Operations Department (EOD) recently issued EOD Advisory No. 2017-001-A, reminding all PEZA-registered entities to strictly adhere to their respective PEZA registration and supplemental agreements or valid letters of approval or authority (LOAs). The advisory also states that they should only engage in their PEZA-registered activities, which shall be undertaken within the confines of the PEZA zone. So no love outside the zone.

Dominguez: Improving governance at BIR, Customs won’t be enough

Economy

Feb 122017

FINANCE Secretary Carlos G. Dominguez III said calls to improve tax administration in lieu of new taxes will not yield sufficient gains to fund the government’s aggressive spending program as the revenue-generating bureaus were already close to hitting their targets in 2016.

NAIA PPP on hold amid review of airport projects

Economy

Feb 122017

THE PLANNED P74.56-billion Ninoy Aquino International Airport (NAIA) Development Project, a public-private partnership (PPP) initiative, is on hold for now as Transportation authorities consolidate proposals in order to make airport decongestion efforts more coherent.

Act expanding the benefits and privileges of PWDs — A closer look

Economy

Feb 122017

The Magna Carta for Disabled Persons enacted in 1992 affirms that the State shall give full support to the improvement and well-being of disabled persons and their integration into mainstream society. The results of the 2010 Census of Population and Housing (2010 CPH) reported that of the 92.1 million household population in the country, 1.4 million persons (or 1.57%) had some form of disability. Albeit laborious, the Philippines has improved in enforcing and promoting benefits and privileges for Persons With Disabilities (PWDs).

China backs emergency powers to ensure completion of PHL infra projects

Economy

Feb 102017

CHINA reaffirmed its commitment to the Philippines as a “reliable partner” in tourism and trade, with that country’s ambassador also supporting emergency powers for the Philippine government to ensure key infrastructure projects are not delayed beyond the current presidential term.

Net FDI up 59% in Nov. at six-month high of $756 million

Economy

Feb 102017

NET INFLOWS of foreign direct investment (FDI) to the Philippines in November hit a six-month high, reversing the outflow seen in October, with the year-to-date tally inching closer to $7 billion — well above the central bank’s full-year forecast for 2016.

Economic team rejects free tuition in state schools

Economy

Feb 092017

ECONOMIC managers said a free tuition policy for State Universities and Colleges (SUCs) will be ineffective, noting that tuition forms only a portion of a student’s expenses, while also putting the budget under pressure.

Senators want public debt capped at 50% of GDP

Economy

Feb 092017

THE SENATE is considering a ceiling on the amount of funds the National Government can borrow to secure macroeconomic stability.

Energy dep’t may extend deadline for contestable electricity customers

Economy

Feb 092017

THE Department of Energy (DoE) is open to extending the deadline for electricity consumers that belong to the “contestable” market to negotiate a power supply contract as the mandatory date for them to do so draws near.

Port cargo volume up 12% in 2016

Economy

Feb 082017

THE VOLUME of cargo passing through the country’s ports rose 12% in 2016, the Philippine Ports Authority (PPA) reported, mainly due to increasing trade and the growing economy.

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