Facebook Instagram Linkedin Twitter Youtube
Home Blog Page 11983

Beach town Glan aims to make its ancestral homes another tourism highlight

By Maya M. Padillo
Correspondent

GLAN, SARANGANI — This coastal town, home of the annual Sarangani Bay Festival every May, is popular in the tourism circuit for its long, pristine white sand beach.
But the municipal government now wants to tap the heritage and historical treasures of Glan, the oldest town established in the province, as another major attraction.
“Everyone can walk around our poblacion (town center) and [go down] a memory lane with our ancestral houses that are more Spanish- and American-inspired,” said Municipal Tourism Officer Lodar Dagoy Escobillo in an interview during a recent tour of the province.
Ms. Escobillo said they have already initiated discussions with families to encourage them to undertake restoration work.
These families are locally referred to as “colonos,” short for colonizers, who are among the first Filipinos from Cebu City who migrated here about a century ago, making Glan among the first Christian towns in Mindanao.
Only four homes are considered in “good condition,” and “the rest of the houses need to be restored, (as these are) around 90% to 100% dilapidated,” she said.
The tourism officer said the local government unit (LGU) is ready to provide assistance by tapping researchers, architecture students, and other locals to take part in the restorations.
“We make them (private sector) feel that the public and LGU are supporting them,” she said.
The National Commission for Culture and the Arts (NCCA) has also committed to give technical assistance, she added.
“We are praying and hoping that more would be enticed to come and visit our place,” Ms. Escobillo said, noting that they have an ambitious target of attracting a million visitors this year from about 370,000 last year.
To complement the ancestral houses, the building of the municipal dispensary of Glan, constructed in the 1940s, will be converted into a museum in partnership with the United Architects of the Philippines (UAP)-Soccsksargen Chapter.
“This will be the first museum in Glan and this will be a good ground for us,” Ms. Escobillo said.
The town’s indigenous peoples’ cultural heritage is celebrated every mid-April with the Mahin Festival, which also serves as the kick-off event for the summer beach activities.
“We deem it necessary to depict our town, despite its sleepiness, (as) an experience of simple living, provincial living, for our tourists to rest and relax not only with our white sand beaches, but we have black sand beaches, ecotourism resources, and waterfalls,” she said.
Glan also has elevated areas that serve as viewing sites for the migratory birds who come every September and October.
The Lubi-Lubi Festival, a street dancing festival and parade, is held every year on Oct. 8 in celebration of the town’s main agricultural product, the coconut.

Creativity — talent or skill?

THE debate on whether artificial intelligence (AI) will replace human jobs or not is heating up. While the World Economic Forum (WEF) predicts that five million jobs will be lost by 2020 because of automation, other experts prognosticate that more jobs will be created than destroyed.
But we can’t deny that AI is indeed shaping the future of jobs — from office to factory work. Then what career and life skills are needed to cope with the changing profile of the labor market in the age of AI.
Findings of a study by the employer-led Partnership for 21st Century Learning describe the foundation skills for worker success as the 4Cs: collaboration, communication, critical thinking and creativity. As I’ve written about the importance of collaboration, communication, and critical thinking in past articles, we will focus on the oft-misunderstood last component — creativity. The WEF listed creativity as the third “skill your child needs for the jobs of the future” in 2020, with complex problem solving and critical thinking as first and second, respectively.
What is creativity exactly? Dictionary.com defines it as “the use of the imagination or original ideas, especially in the production of an artistic work.” This is where our misconception stems from — that creativity is associated with artistry. That’s why the Philippines has always been branded as probably one of the most creative countries in the world. Our country produces the best singers, dancers, painters, web designers, and animators. That’s why we associate creativity with talent — that it’s innate or natural to a person and can be developed.
But is creativity a talent that’s inborn or it’s a skill, as WEF calls it, that can be learned, practiced, and become an expert of? Part of the problem is how creativity is defined by many. But actually, creativity is the use of imagination and original ideas to solve problems.
In the recent creativity workshops we ran for organizations, a simple exercise we conducted was to ask the audience, in three minutes, to list down as many “ways on how to attract voters to he precinct,” taking off from the recent barangay elections. The longest list would get a prize.
On the average, each participant listed twenty ideas. But interestingly, the first 5 to 10 ideas were the things anyone would normally suggest, like provide free food, free wi-fi, comfortable seats, nice toilets, and so on — those that are relevant to the problem at hand. In workplace brainstorming sessions, we tend to give the most relevant ideas that will address a problem.
As the list reached 10 ideas, each participant showed a slowing down of ideas until it bottomed out. This was the point when each participant looked blankly at nowhere for a lack of ideas. Then, with a light bulb moment at the bottom, the participants started to write ‘crazy’ and ‘stupid’ ideas like ‘get some models to attract voters,’ ‘put some live band music in the precinct,’ and so on until they added 10 more ‘crazy’ ideas. These next 10 ideas are the original and novel ideas — those that are ‘out-of-the-box and innovative.
This exercise brought out two important lessons to participants. Firstly, creativity is a process — one that goes through the generation of relevant ideas first then goes through a wave of novel ideas. Secondly, creativity is a capability that can be learned and a skill that can be developed, given the right conditions, like motivation or incentive. In the exercise, the participants were motivated and incentive to list as many ideas to solve the problem of attracting voters to the precinct because there’s a prize.
Since creativity is a skill, its one that we can practice and develop through exposure to solving problems may it be in everyday life and the workplace. If we want employees to be creative in brainstorming sessions, we provide the conditions of ‘incentive’ and ‘no idea is stupid’ so that they generate novel and original ideas that can potentially solve problems.
What’s unique about Filipinos is that we innately possess the creative talent, but we manifest this in artistry and as evidenced by the novel ideas during the workshops. There is huge potential for Filipinos to develop creativity into a skill that can be applied in many areas such as in putting up tech start-ups or proposing novel ideas to address societal issues.
What is sorely missing and fast declining among Filipinos is critical thinking — an important skill alongside creativity, both needed to solve problems. In fact, the Filipino people are cited as the third “most ignorant” regarding their nation’s key issues in The Perils of Perception 2017 study. I’ve written previously that this is due to the declining critical thinking skill, brought about by the age-old rote learning pedagogy in schools and widespread social media use.
We as a nation are naturally creative, we just need to enhance it to become a worthy skill. But alongside, there’s an urgent need to develop critical thinking as well.
 
Reynaldo C. Lugtu, Jr. is President & CEO of Hungry Workhorse Consultancy Inc, a digital and culture transformation firm. He is the Chairman of the ICT Committee of the Financial Executives Institute of the Philippines (FINEX). He teaches strategic management in the MBA Program of De La Salle University. He is also an Adjunct Faculty of the Asian Institute of Management.
reylugtu@gmail.com

Globe to roll out 5G home broadband by mid-2019

GLOBE Telecom, Inc. is set to roll out a fifth-generation (5G) home broadband service by the second half of next year.
The telecommunications company announced on Wednesday it would make available its first 5G Globe at Home plan by the middle of 2019.
Globe President and CEO Ernest L. Cu said in a statement the 5G technology would enable Globe to use Air Fiber technology, which can provide speeds from 50 megabits per second (Mbps) to 100 Mbps. The Ayala-led company has partnered with Huawei Technologies Ltd. for the development of its 5G network.
Globe said its 5G network will boast not only higher speeds but also lower latency and better capacity, which can be highly useful not just for everyday basic Internet use but more for the adoption of new technologies such as Internet of Things (IoT) and virtual reality (VR).
Globe Chief Technology and Information Officer Gil B. Genio told reporters it would be practical to initially roll out 5G in Metro Manila and other urban centers where there is high density of cell sites. The Philippines has only around 16,000 cell sites.
While the international telecom community has yet to finalize frequencies for 5G, Mr. Genio said they will aim for mid-frequencies because high frequencies would demand a higher number of cell sites. The use of 2600 MHz-3500 MHz frequencies will allow Globe to use the same antennae they use for 4G.
Mr. Cu said they are rolling out home broadband first because of the continuing take-up of content video streaming. Video streaming has contributed to higher data usage and revenues of Globe.
“People are watching video, more and more video. As video traffic goes up, we have to deliver higher speeds, not only to one screen, but multiple screens in the household,” Mr. Cu told reporters at the sidelines of the company’s event.
Globe is currently piloting Narrow Band-Internet of Things technology while enhancing its mobile data services. The company has also expanded its deployment of Massive maximum input, maximum output.
Standards for 5G have to be finalized, with the 3rd Generation Partnership Project (3GPP), a collaboration of seven telecommunications standard development organizations, having approved a set of standards for new radio specifications last December.
Rival Smart Communications, Inc. also recently announced its research and development of 5G rollout. It has not yet specified a rollout date but aims to have a 5G-ready network by 2020.
The company has launched 5G Technolab, a facility that will be assigned for the research and development, standardization, and testing of 5G technology. It also tapped Huawei as its partner.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Patrizia Paola C. Marcelo

Six factors to consider in case of job transfer

If there are excess regular workers in a department as a result of our productivity improvement, how do we choose the right person or persons to be transferred to another department, if not a geographical assignment? Is there a basic formula to follow? — Yellow Submarine.
An elderly lady driving a big, new, expensive car was preparing to park into a vacant parking space in front of a convenience store when suddenly a young man in a small sports car zoomed in ahead of her. The old woman angrily asked why he had done that when he could tell she was trying to park there. His response was simply “Because I’m young and I’m quick!”
The young man then entered the store. When he came back after few minutes, he found the woman using her big new car as a battering ram, backing up, and then ramming it into his car. He angrily asked the woman why she was wrecking his car. Her response was a classic:
“Because I’m old and can’t be put in jail. I’m also rich enough to do what I want. And I’m influential and powerful enough to get you into trouble!”
Transferring employees to another work assignment or location is a management prerogative. But management can’t simply argue that it has the absolute power to hire, transfer, or fire employees at whim, similar to what the old woman has done in our story.
The latest jurisprudence on this is the case of Chateau Royale Sports and Country Club, Inc. vs. Rachelle Balba, et al. (G.R. No. 197492, Jan. 18, 2017): “(M)anagement has a wide discretion to regulate all aspects of employment, including the transfer and re-assignment of employees according to the exigencies of the business.”
However, this management prerogative is tempered only if and when “the transfer constitutes constructive dismissal when it is unreasonable, inconvenient or prejudicial to the employee, or involves a demotion in rank or diminution of salaries, benefits and other privileges, or when the acts of discrimination, insensibility or disdain on the part of the employer become unbearable for the employee, forcing him to forego (such) employment.”
In other words, management can’t transfer or re-assign if it is against the worker’s general interest. Some examples of illegal, immoral, and unethical work assignments include a transfer to 5D (dirty, difficult, dangerous, demeaning, and dehumanizing) jobs or transfer to a rebel-infested province that is hundreds of kilometers away from the worker’s family.
Therefore, to avoid any legal trouble, you are advised to be very careful in transferring workers to work assignments or location that would be inimical to their interest. To serve the best interest of both the workers and the organization, it is best for you to consider the following factors:
1. Ask for volunteers who are willing to accept the job transfer. This is easier said than done. But unless, you try, you’ll never know who are interested or not interested. On the other hand, you may be fortunate to know that there are people who are willing to try their luck in other departments for a change in work environment.
2. If there are no expected volunteers, make the transfer attractive. This can be done by offering cash or non-cash rewards to people to sweeten the offer. The cash may be in the form of a minimal, non-taxable monthly “disturbance” allowance or hazard pay, depending on the circumstances. The non-cash reward refers to “credit” related to one’s performance review.
3. Implement a regular or routine job rotation program for everyone. This must be done on a corporate-wide basis. Otherwise, if job transfer is done once in a while, the employees may suspect it for some malevolent reasons. Therefore, the human resources department must be tasked to maintain an objective policy and parameter in implementing job rotation.
4. Sell the transfer as a pre-requisite for career advancement. It must be part of a multi-skilling program. The greater variety of jobs that employees have experienced, the better for them to secure the next available promotion as they’re generally expected to have a bigger picture of what the company needs and may have established rapport with many people in the organization.
5. Choose the workers who are receiving the lowest pay package. When given the chance for career advancement, junior workers can be aggressive in accepting job transfers. They like the challenge if only to prove their worth to management, now and in the future and to log in more personal milestones.
6. Guarantee job security in all productivity improvement programs. Otherwise, management will have greater difficulty in attracting people to support, if not actively participate in similar quality and productivity improvement activities of the organization.
Every people manager wants to be liked by his workers. But sometimes, transferring people to work assignments that they don’t like will often result in conflict. Although job transfers are clearly a management prerogative, it should not be used to oppress people. And as I’ve explained in the preceding paragraphs, there are many ways to soften the blow of an unwanted job transfer.
ELBONOMICS: Job transfer is optional because corporate survival is not mandatory.

***

Rey Elbo is facilitating a public workshop on “A Manager’s Blitz Guide to Improving Labor Productivity” on July 28, 2018 at Dusit Thani Hotel. For details, contact Ricky Mendoza at (02) 846-8951 or 0915-406-3039 or e-mail inquiry@kairos.com.ph
elbonomics@gmail.com

Foreign direct investment flows in select Southeast Asian economies (2017)

How PSEi member stocks performed — June 7, 2018

Here’s a quick glance at how PSEi stocks fared on Thursday, June 7, 2018.

Duterte: Declaring martial law ‘not feasible’

By Arjay L. Balinbin, Reporter
President Rodrigo R. Duterte on Thursday, June 7, said declaring martial law is “not feasible” because it will only “divide the nation.”
“Martial law is not feasible. It will not work. It’s going to be a divided nation…It’s going to divide the nation,” Mr. Duterte said in a media interview in Lapu-Lapu City, Cebu on Thursday evening, June 7.
Last Tuesday, the President warned that there will be “radical” changes “in the coming days.” When asked to clarify his statement, he said “radical change” will involve the “placing of corrupt agencies under the Office of the President (OP).”
He likewise said an office “headed by a secretary” will be placed under the OP, but he refused to name it because the official “might get hurt.”
Also on Thursday, Presidential Spokesperson Harry L. Roque, Jr. said that “Proclamation No. 55,” which declares a state of national emergency on the account of lawless violence in Mindanao, is “still in effect.”
Mr. Roque also explained during his press briefing that “perhaps” the President “was referring to the fact that these (martial law and a declaration of national emergency) are both powers of the President as Commander-in-Chief. And that they both entail the military taking on active role in what is purely civilian. Because the calling out power is when you call out the Armed Forces of the Philippines (AFP) and not just rely on civilian institutions, such as the Philippine National Police (PNP).”
As far as the powers of the President are concerned as Commander-in-Chief, Mr. Roque also said, “the least intrusive is a state of national emergency.”
On Sept. 4, 2016, lawless acts in Mindanao, including “abductions, hostage-takings and murder of innocent civilians, bombing of power transmission facilities, highway robberies and extortions, attacks on military outposts, and assassinations of media people and mass jailbreaks” prompted Mr. Duterte to sign Proclamation No. 55.
Two days before the proclamation was signed, at least 14 individuals were killed and 67 others were injured in a bombing incident in Davao City.

Tourism share of GDP hits 18-year high in 2017

By Christine J. S. Castañeda
Senior Researcher
THE TOURISM industry’s contribution to the economy was the highest in 18 years in 2017, the Philippine Statistics Authority (PSA) said.
According to preliminary data compiled by the PSA, tourism’s direct gross value added (TDGVA) accounted for 12.2% of gross domestic product (GDP) in 2017 higher than the sector’s 10.7% share in 2016.
TDGVA measures the tourism-related value created by various industries. Last year, the combined economic contribution of tourism activities was P1.929 trillion at current prices, up 24.2% from a year earlier.
The TDGVA indicator is based on the results of the Philippine Tourism Satellite Accounts report, which the PSA compiles from the Department of Tourism.
Transportation had a 22.8% share of gross value added, followed by food and beverage services and entertainment and recreation services, which contributed at 20.9% each.
“The improvement in tourism’s share to GDP last year… was partly a result of more inbound tourists taking advantage of the relatively cheaper peso versus their local currencies as well as stronger domestic tourism spending amid manageable inflation,” said Angelo B. Taningco, economist at the Security Bank Corp.
Domestic tourism expenditures hit P2.645 trillion last year, up 25.5%. Domestic tourism expenditures were equivalent to 22.8% of household spending in 2017, according to the PSA.
Tourism expenditure by non-residents amounted to P448.6 billion in 2017, up 43.9%.
“Compared to the country’s total exports, the share of inbound tourism expenditure was 9.2%. Inbound tourism ranked third among the biggest export items in 2017, after semiconductors at 21.9% and miscellaneous services at 15.7%,” the PSA said.
Employment in the tourism industries was estimated at 5.3 million in 2017 or 13.1% of the total working population, up from 12.8% a year earlier.
Mr. Taningco added: “My tourism outlook for this year is somewhat positive as I expect healthy inbound tourism spending on the back of a cheaper peso but domestic tourism spending might be hampered a bit by domestic inflation rising sharply.”
The economist also said that the six-month closure of Boracay Island “will surely not contribute positively” to tourism output. “I think though that the negative effect would be marginal if the island’s shutdown is not more than six months,” he added.

Q1 building permit approvals up

By Jochebed B. Gonzales
Senior Researcher
THE NUMBER of approved building permits continued to grow in the first quarter albeit at a slower rate compared to a year earlier as well as a quarter earlier, the government reported yesterday.
According to preliminary results from the Philippine Statistics Authority, the number of construction permits rose 2.6% from a year earlier in the first quarter to 36,002. The growth rate is lower than the 3.6% booked in the preceding quarter and the 7.1% posted in the first three months of 2017.
These construction projects were equivalent to 8.569 million square meters of floor space, up 11.6% year on year, with the value of the construction amounting P101.729 billion, up by about a third from a year earlier.
Residential construction approvals, which accounted for 70.4% of the total approved building permits in the first quarter, declined by 1.2% from a year earlier, though on a value basis construction amounted to P64.439 billion, up 70.6% from a year earlier.
Single-detached homes accounted for 21,776 permits, followed by apartments at 3,109. Duplexes and quadruplexes numbered 379 while condominiums and other residential projects were 44 and 54, respectively.
Permits for non-residential construction increased 11.8% to 5,587 and the corresponding projects were valued at P31.099 billion with a floor area of 3.377 million square meters. Within the category, commercial building permits were up 20.2% year-on-year at 3,579 and institutional building permits rose 13.3% to 1,081.
Region IV-A (Calabarzon) topped the regions with 8,199 in approved construction permits, with 6,129 of them residential.
Region VII (Central Visayas) and Region III (Central Luzon) followed with 4,333 and 3,589 permits, respectively. Approved non-residential projects in these regions numbered 614 and 735, respectively.
Among the provinces, Cavite had the most number of approved permits, comprising 10.9% of the total or 3,934. Cebu had a 5.1% share or 1,844 while Batangas accounted for 4.3%, equivalent to 1,546.
In terms of value, the National Capital Region (NCR) had projects amounting P36.439 billion, with P31.696 billion representing residential construction, notably mostly condominiums which were valued P27.416 billion. The value of non-residential projects in the region during first quarter was P2.436 billion.
Projects in Calabarzon were valued P14.906 billion while Central Visayas and Central Luzon came in at P13.115 billion and P8.082 billion, respectively.
Sought for comment, Angelo B. Taningco, economist at Security Bank Corp., said: “I think the increase in non-residential construction appears to be in response to strong office demand, whereas the decline in residential construction may be related to rising inflation, which tends to restrict household spending.”
Despite the residential segment’s dip in volume of permits, Rizal Commercial Banking Corp. (RCBC) economist Michael L. Ricafort, noted the growing space meant for residential occupancy especially in Region IV-A.
“The 29.2% increase in residential building [by floor area] reflects the continued growth in housing loans of banks and the expansion of developers, especially in areas outside Metro Manila where more lots/spaces are available,” he said.
“Region IV (including Cavite) is also host to the country’s biggest industrial zones/areas outside Metro Manila and also a host to growing commercial/retail/office space areas,” added Mr. Ricafort.
Moving forward, the economists were upbeat on construction activity, maintaining a rosy outlook for the real estate sector as well as the government’s aggressive infrastructure spending.
“Overall, my outlook on construction activity is positive especially with buoyant office demand, relatively low interest rates, and the government’s strong push for public infrastructure,” said Security Bank’s Mr. Taningco.
RCBC’s Mr. Ricafort added: “Construction activity could still continue to grow in the coming months/years, reflecting the boom in real estate activities and increased growth in infrastructure spending.”

Monetary Board sees inflation momentum slowing — minutes

By Melissa Luz T. Lopez
Senior Reporter
INFLATION momentum has been easing as price spikes due to tax reform have decelerated, the central bank said as it decided to raise rates last month in order to temper future price increases.
Higher interest rates are viewed as a means of softening the impact of possible increases in transport fares, power rates, and minimum wages, according to highlights of the Monetary Board’s May 10 policy meeting.
The policy-setting body of the Bangko Sentral ng Pilipinas (BSP) raised rates by 25 basis points last month, marking the first tightening move in nearly four years which brought benchmark rates to the 2.75-3.75% range.
“[T]he Monetary Board believed that a timely increase in the BSP’s policy interest rate will help arrest potential second-round effects by tempering the buildup in inflation expectations,” according to the four-page highlights of the meeting published yesterday.
The central bank said inflation pressures could become more broad-based over the coming months as they now see the full-year average at 4.6%, well above the 2-4% target.
Despite this, the BSP noted that “inflation momentum has started to slow down” even after April inflation hit a five-year high at 4.5%.
“[T]he impact of the new tax appears to have mostly dissipated based on month-on-month trends while a majority of CPI (consumer price index) items remains within or below the target range,” the BSP also said.
On a month-on-month basis, inflation slowed from 0.7% in March to 0.3% in April, according to government data. This fell further to 0.2% in May. On a year-on-year basis, inflation was a 4.6% in May.
Policy makers introduced a preemptive tightening move in May amid faster year-on-year price increases for basic goods and services.
Petitions for higher minimum wages, transport fare hikes and electricity rates are viewed as key risks that could push prices up, the BSP said.
“The Monetary Board observed that strong domestic demand allows some scope for a measured adjustment in the policy rate without adversely affecting the country’s economic growth momentum,” the central bank added.
Faster-than-expected rate hikes in the United States — which, in turn, will push global yields higher — are also expected to drive faster inflation. Meanwhile, slower global economic growth, geopolitical tensions and the removal of rice import limits are expected to help offset price spikes, the central bank added.
Inflation has averaged 4.1% as of the end of May. BSP Governor Nestor A. Espenilla, Jr. said on Tuesday that latest data showed that inflation is slowing and may be nearing its peak, which could have come earlier than previous expectations of a steady ascent until the end of the year.

DoE values S. Korea proposed power projects at $4.4B

THE Department of Energy (DoE) has estimated at around $4.4 billion the proposed investments of four South Korean companies covering energy projects in the Philippines.
“We welcome these investments, especially as we anticipate the growth of our economy and expected demand due to the government’s ‘Build, Build, Build’ Program,” said Energy Secretary Alfonso G. Cusi in a statement.
Mr. Cusi, who has said he had received letters of intent from the foreigners, came from an official visit to South Korea led by the President.
He identified the four companies as SK Engineering & Construction, Sy Enc Co., Ltd., BKS Energy Industry Ltd., and SK E&S. Their letters were formally submitted during the Philippines-Korea business forum and luncheon in Seoul.
“We are expecting more Korean firms to express their interest in investing in Philippine energy projects. We are hoping that this will result in a more robust energy sector for the country, help our job generation efforts and boost our economy,” Mr. Cusi said.
The DoE described SK Engineering & Construction as an engineering, procurement and construction (EPC) contractor in the Philippines. The company intends to invest $2 billion in Quezon province with its proposal to build a coal-fired power plant and expand its local operations.
The EPC contractor handles all activities related to power plant development — from design, procurement, construction and commissioning up to the handover of the project to its end-user or owner, the DoE said.
Its proposed power plant project in Quezon is expected to generate at least 3,000 jobs yearly during the construction period. During the operational period, it can create 600 jobs.
The second-biggest investment proposal came from SK E&S at $1.6 billion. The company is engaged in power generation, district energy, and city gas in and outside South Korea. It submitted a proposal for an liquefied natural gas (LNG) terminal, which is projected to create 2,200 jobs during the construction period.
BKS Energy Industry Ltd. submitted a proposal for a solar power generation with an investment of $500 million in the Philippines. Its plan is expected to create about 1,000 jobs a year.
Renewable energy company Sy Enc Co. submitted a proposal for a wind power generation project. It also plans to expand its Philippine operations with an investment of about $255 million that could create 10,000 jobs. — Victor V. Saulon

British chamber to brief UK businesses on RA 11032

THE British Chamber of Commerce Philippines (BCCP) said it is set to meet with businessmen in the United Kingdom next week to discuss ease of doing business developments in the Philippines, following the enactment of Republic Act (RA) 11032 or the ease of doing business law.
“We are leaving again for the UK on Friday evening, and I have a meeting in Manchester with the chambers of commerce in the UK maybe next week, and I will discuss ease of doing business issues [in the Philippines],” BCCP chairman Chris Nelson said in a phone interview on Wednesday evening.
“I would like to increase the relationship between the Philippines and the UK by trying to attract more companies to invest in the Philippines,” he added.
Mr. Nelson said the new law is “something the BCCP can use to promote and help make the Philippines more attractive to UK companies, especially the small and medium-sized enterprises (SMEs) because that is what the BCCP tends to focus on.”
In an interview last Sunday, Mr. Nelson also said he recently “spent two weeks in the UK, from the 30th of April to mid-May, promoting the Philippines to British companies.”
“I met over 90 companies across nine different cities and towns organized by the chambers of commerce and the Department of International Trade, so this is to promote trade and investment between the two countries. And now we are following up with those contacts to hopefully get them to start doing business in the Philippines,” Mr. Nelson narrated.
The BCCP, Mr. Nelson also said, is “currently in discussions with eight” UK companies. He noted too that businessmen often ask him back home about “regulations and ease of doing business” in the Philippines.
The BCCP is set to hold its fourth joint economic briefing on foreign direct investment in the Philippines, with Finance Undersecretary Karl Kendrick T. Chua and Trade Secretary Ramon M. Lopez expected to take part. The event will be held at the Makati Diamond Residences on June 19.
“With the current aggressive stance of the government, roads are opening for foreign investors, but sustainability is critical. Representatives from various industries will also be sharing their experiences and insights on current government policies and initiatives that either support or go against their goals for achieving profitability,” the chamber said on its website. — Arjay L. Balinbin

1...11,98211,98311,984...13,749Page 11,983 of 13,749
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin Twitter Youtube