Sprout Solutions eyes more industries for AI sales assistant

March 19, 2025 | 12:01 am

SPROUT SOLUTIONS is looking to expand its artificial intelligence (AI) sales assistant Inbound to other industries to help accelerate deal closures.

“For anyone in sales, one of the hardest things isn’t really closing the sale; it’s getting enough customers to even talk to you at the very beginning,” Gian Paulo G. dela Rama, chief product and AI officer at Sprout Solutions, said in a video interview on March 4.

“It’s that specific pain point that we’re trying to address, so we want to deliver actionable leads to sales people, and to do that, we built this AI tool that will automate the lead engagement at the very beginning,” he added.

About 50 entities in the real estate and automotive sector use Inbound.

Launched in January, Inbound seeks to increase Philippine companies’ competitiveness by streamlining workflows, providing high-value leads and accelerating deal closures. It initially catered to the real estate and automotive sectors.

“With Inbound, managing and converting leads have never been easier,” Patrick Gentry, chief executive officer at Sprout Solutions, said in an e-mailed statement. “Automating complex workflows frees teams to focus on the most promising buyers and real opportunities, instead of getting bogged down in manual tasks.”

The platform provides businesses with data-driven analytics to track crucial metrics, namely conversion rates, lead engagement and product performance, sales volume and revenue.

It can also be integrated with other business tools, including customer relationship management, listing or inventory platforms and scheduling software like Google Calendar.

Inbound also has a setup guide and a team of experts to help businesses use the platform effectively.

Mr. Dela Rama said companies could train Inbound with its own information through the platform’s “state-of-the-art generative AI.”

Before, companies had to anticipate what questions customers would ask and create answers, he said.

“[Now,] our clients basically just need to upload whatever materials that they have, and our Inbound chatbot will be able to answer questions or generate answers based on the information that it has been trained on.”

The Inbound chatbot can also be customized according to the company’s branding and tone.

Customers can integrate Inbound’s chatbot into their website and Facebook Messenger accounts. Sprout Solutions is looking to integrate the chatbot to corporate e-mail accounts.

More than 240,000 companies in the Philippines and Thailand use Sprout Solutions’ AI-driven human resource and business solutions, Mr. Dela Rama said.

The Philippine economy is expected to gain P2.6 trillion annually if domestic businesses adopt AI solutions, according to the National Economic and Development Authority. — Beatriz Marie D. Cruz

SEC says GCash proposal to relax MPO rule ‘possible’

March 19, 2025 | 12:01 am

THE Securities and Exchange Commission (SEC) said it is possible to lower the 20% minimum public ownership (MPO) requirement for public listings to accommodate the planned stock market debut of mobile wallet platform GCash.

SEC Commissioner McJill Bryant T. Fernandez said GCash must apply for exemptive relief with the corporate regulator.

“Should there be any lowering of the 20% (MPO rule), then that would still be an exemptive relief application. It is within the SEC’s power…” he told reporters on the sidelines of a recent listing event in Makati City.

“At the end of the day, we have to look at market conditions. We have to check exactly what they’re going to propose. But we have yet to see. The size of the offer would be considered. At the end of the day, we want a successful listing,” he added.

However, Mr. Fernandez said GCash has not yet submitted an application to the SEC.

“Formally, we have not yet received anything from GCash. We haven’t even conversed, formally or informally, about this. I’m aware that they’ve reached out to the Philippine Stock Exchange (PSE),” Mr. Fernandez said.

“From our end, we’re looking forward to this listing by GCash,” he added.

Globe Telecom, Inc. recently said it is seeking regulatory relief from the PSE and the SEC on the 20% MPO rule for the planned GCash initial public offering (IPO).

G-Xchange, Inc., which operates GCash, is a wholly owned subsidiary of Globe Fintech Innovations, Inc. (Mynt).

Globe President and Chief Executive Officer Ernest L. Cu recently said the GCash IPO could target an $8-billion valuation and might happen by year-end.

He added that the timeline will depend on the PSE and SEC’s decision on whether to lower the MPO rule to 10%-15% from 20%.

PSE President Ramon S. Monzon said in January that the market operator, along with the SEC, is evaluating the possibility of reducing the 20% public float requirement. The PSE aims to have six IPOs this year. — Revin Mikhael D. Ochave

Arts & Culture (03/19/25)

March 19, 2025 | 12:01 am

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Cristina Pantoja Hidalgo to lecture on historical novels

THE second installation of the lecture series “States of the Filipino Novel” will be held on March 21, 5 p.m., at the Natividad Galang Fajardo Conference Room of Ateneo de Manila University in Quezon City. It will be led by renowned professor, writer, and literary scholar Cristina Pantoja Hidalgo who will discuss the modern Philippine historical novel and women writers Both the in-person talk and its livestream are free to the public.

Nicole Coson, Jon and Hanna Pettyjohn at Silverlens

SILVERLENS MANILA will hold a solo exhibition by Nicole Coson alongside a duo presentation of father and daughter potters Jon and Hanna Pettyjohn, both exhibits opening on March 20. Ms. Coson’s is titled Membranes, focusing on two everyday objects: styrofoam mesh fruit casing and standard plastic shipping crates. These items speak to the vast journeys that perishable goods undergo before eventual consumption, expressed in printmaking and painting for the show. Meanwhile, the Pettyjohns are presenting Reflections, in situ, featuring collaborative sculptures alongside individual works by each artist. Both artists articulate through their works a deep connection to the landscape of the Philippines through transformed raw materials, ceramics, paintings, and sculptures. Both exhibits run until April 25 at Silverlens, Chino Roces Ext., Makati.

Women’s Month opera to take place at Y Space

FOR an evening of powerful voices and soulful melodies, those who enjoy or are curious about opera can come to Her & Harmonies: A Women’s Month Opera Event, featuring sopranos Krissan Manikan-Tan and Kay Balajadia, on March 22, 6:30 p.m., at Y Space at the Yuchengco Museum, RCBC Plaza, Makati. Raki Gendrano will be on piano supporting the two opera singers. Tickets for the general public cost P1,500 while seniors, persons with disabilities, and academic faculty with valid IDs can attend for P1,200.

China Collages opening at MO_Space

THE SHOW, China Collages, will give viewers the chance to revisit Roberto Chabet’s pivotal series of works on paper this March. Done between the mid to the late 1980s, these collages represent a critical point in both Mr. Chabet’s career as an artist, as well as the evolving political landscape, bearing tumultuous undulations between order and chaos. In these works, Mr. Chabet reimagines collage through the functions of the map. China Collages is open for public viewing at MO_Space from March 22 to April 20 at the 3^rd floor of Mos Design, 9^th Avenue, BGC, Taguig.

Calle Wright holds talks on opening show

TWO TALKS will be held this month in conjunction with Calle Wright’s opening exhibit for the year, Hair tied together, embodied we speak / Pinagtaling buhok, kinatawang bigkas, a group show exploring photography, installation, and sound as tools for connection, resistance, and self-identity. The first talk is “Collective Envisioning: Art, Material, and the Body” on March 22, 3 p.m., with three of the exhibiting artists: Isola Tong, Patricia Perez Eustaquio, and Gina Osterloh. The talk will have them each delve into their works, which explore materiality, the body, and collective memory. The second is “Listening to Walls: Press, Lean, and Perform with Gina Osterloh” on March 23, 10 a.m., where Ms. Osterloh invites visitors into a quiet, meditative space to understand her unique video performance through simple, mindful gestures. Register to attend these events via Calle Wright’s pages. Calle Wright is located on 1890 Vasquez St., Malate, Manila.

Arthur Espiritu holding MiraNila concert

ON April 2, Filipino-American tenor singer Arthur Espiritu will be filling the halls of the MiraNila Heritage House & Library with his powerful voice. His one-night concert, in partnership with Leon Gallery and Gallery MiraNila of The Blue Leaf, is titled Tenor Arthur Espiritu Welcome-home Concert Amid Critical Acclaim in Europe. It starts at 6:30 p.m. at the Main Hall of MiraNila. The night marks his return from Europe after playing leading roles in various opera houses and concert halls. He will be performing pieces by Gabriel Fauré, Franz Lehar, Giacomo Puccini, Charles Gounod, Richard Strauss, Andrew Lloyd Weber, and Francesco Sartori, accompanied by soprano Jade Riccio and pianist Mariel Ilusorio. Doors open at 6 p.m. Tickets cost P1,500 for library seats and P2,500 for Main Hall seats and must be reserved in advance. MiraNila Heritage House & Library is located at 26 Mariposa St., Brgy. Bagong Lipunan, Crame, Quezon City.

Rep announces full cast of ART

REPERTORY PHILIPPINES (Rep) has announced the full cast and creative team for its 88^th season offering of Yasmina Reza’s Olivier and Tony award-winning comedy, ART. The production, translated by Christopher Hampton and directed by Victor Lirio, features New York-, London-, and Manila-based creatives. In the cast are London-based Filipino-British actor Martin Sarreal, award-winning Manila-based actor Brian Sy, and British stage, film, and TV actor Freddy Sawyer. Rep’s ART will run from June 13 to 21, with regular performances on Fridays and Saturdays at 8 p.m., and matinee performances on Saturdays at 3:30 p.m. All performances will be at Rep’s recently inaugurated REP Eastwood Theater in Quezon City.

SM Podium opens Australian Book Nook

THE AUSSIE-STYLE Book Nook at SM Podium is now officially open. Its architect Shereen Sy and SM Supermalls president Steven Tan recently hosted Australian Ambassador HK Yu for its unveiling. Named Australia Corner, it houses a collection of children’s books, novels, and educational books about Australia, most of which are not available in book shops in the Philippines. The ambassador handed over a selection of books from the Australian Embassy and the Melbourne-based non-profit Give-A-Textbook Foundation. Book Nook is a community-driven library managed by SM Cares where anyone can read, donate, and share books. It first opened in SM Aura in 2020, and its second branch is located at the 5^th level at SM Podium in the Ortigas Center.

TGA announces additional show for Into the Woods

THEATRE GROUP ASIA (TGA) has announced an extended run of its production of Into the Woods, with six additional shows from Aug. 28 to 31 at the Samsung Performing Arts Theater at Circuit Makati. There will be 7:30 p.m. shows on all four days, and 2:30 p.m. shows on Aug. 30 and 31. TGA also announced another cast member: veteran actor Rody Vera, who will play the Narrator/Mysterious Man.

Penguin is publishing Letters from Gaza

PENGUIN has announced the publication of Letters from Gaza, an intimate collection of personal writings that bears witness to one of the most devastating humanitarian crises of our time. This one-of-a-kind compilation by Gaza-based writers Mahmoud Alshaer and Mohammed Zaqzooq is an unflinching account of war told through the words of those living it — offering a deeply personal, urgent, and essential perspective that gets often lost in global headlines. Letters from Gaza is scheduled for release in April under the Penguin Select imprint.

Enhancing the Philippine tourism experience: VAT refunds for foreign tourists

March 19, 2025 | 12:01 am

230225_Intramuros-JR-tourists — PHILIPPINE STAR/JOHN RYAN BALDEMOR

The Philippines has long been regarded as a premier tropical destination for foreign tourists from around the world. From the pristine white sands of Boracay and the world-class surfing waves of Siargao, to the vibrant streets of Metro Manila and Cebu, the country offers a diverse range of attractions that cater to all types of travelers. In recent years, the Philippines has witnessed a remarkable surge in international arrivals, highlighting its growing appeal and competitiveness as a top travel destination.

Department of Tourism (DoT) Secretary Christina Garcia Frasco has formally announced that the Philippine tourism sector has firmly established its role as a key economic pillar of the national economy, as it achieved unprecedented record-high tourism revenue of approximately P760 billion in 2024.¹

In a bid to further boost its appeal and competitiveness in the global tourism market, the Philippine government has introduced a significant policy shift through the enactment of Republic Act No. 12079 on Dec. 6, 2024. The legislation establishes a Value-Added Tax (VAT) refund system for non-resident tourists, aiming to encourage higher spending among foreign visitors and align the Philippines with other leading tourist destinations that offer similar tax incentives.

VAT is ultimately a tax on consumption, even though it is assessed on many levels of transactions on the basis of a fixed percentage. The ultimate burden of tax on consumer goods or services falls on the end user. Providers of these goods or services pass the liability to the final consumers, allowing the providers to offset their own VAT liability (input VAT) with the VAT payments they receive from the final consumers (output VAT).² The VAT refund system for foreign tourists operates on the premise that the tourists who acquire merchandise in a tourism country do not consume the purchased goods in such country. Such a VAT refund for non-resident tourists adheres to the destination principle of the Philippine VAT system in which goods and services are taxed only in the country where they are consumed.³

The concept of a VAT refund for tourists is not entirely new to Filipinos. Many who have traveled abroad may have experienced and benefited from similar tax rebate systems in other countries. Japan, South Korea, and various European countries have long implemented efficient tax rebate systems that allow foreign tourists to reclaim a portion of the VAT paid on goods purchased during their stay in the country.

Under R.A. No. 12079, a tourist shall be eligible for a VAT refund on locally purchased goods if the following requisites are present:

a. Goods are purchased in person from duly accredited stores;

b. The goods are taken out of the Philippines within 60 days from date of purchase; and,

c. The value of the goods purchased per transaction is equivalent to at least P3,000.

The threshold for the value of the goods purchased per transaction is subject to review and adjustment every three years by the Secretary of Finance, upon recommendation of the Commissioner of Internal Revenue, taking into consideration the Consumer Price Index as published by the Philippine Statistics Authority.

The Department of Finance (DoF) is tasked with the responsibility of engaging reputable and experienced VAT refund operators to establish and manage an efficient refund system pursuant to the provisions of R.A. No. 12079. The VAT refund process will accommodate the preferences and convenience of non-resident tourists by allowing refunds to be processed either electronically or in cash, depending on the specific mechanisms implemented. As of this date, the DoF has not yet promulgated the rules and regulations necessary for the effective and faithful implementation of R.A. 12079.

With the implementation of the new law, an estimated 30% increase in tourist spending is projected, promising substantial economic benefits for a wide range of sectors within the Philippine economy.⁴ The anticipated surge in expenditures by foreign visitors is expected to significantly boost revenues for large-scale industries, including hospitality, retail, and transportation, which are well-positioned to accommodate higher tourist demand, as well as micro, small and medium enterprises (MSMEs).

The success of this legislation hinges not only on the issuance of clear and comprehensive rules and regulations, but also on the readiness of businesses to comply with new requirements brought about by the new law. For businesses and investors, particularly those in the retail sector, a thorough understanding of the legal and regulatory landscape will be essential in maximizing the opportunities presented by R.A. No. 12079. n

¹ “PHL hits record high tourism revenue in 2024,” available at https://beta.tourism.gov.ph/news_and_updates/phl-hits-record-high-tourism-revenue-in-2024, last visited on March 9.

² Commissioner of Internal Revenue v. Magsaysay Lines, G.R. No. 146984, July 28, 2006, 497 SCRA 63.

³ Commissioner of Internal Revenue v. Filminera Resources Corp., G.R. No. 236325, Sept. 16, 2020, 954 SCRA 505.

⁴ News releases — “PBBM okays proposals to boost tourism,” available at https://pco.gov.ph/news_releases/pbbm-okays-proposals-to-boost-tourism, last visited on March 9.

The views and opinions expressed in this article are those of the author. This article is for general informational and educational purposes only and not offered as and does not constitute legal advice or legal opinion.

Christine L. Paulma is an associate of the Angara Abello Concepcion Regala & Cruz Law Offices (ACCRALAW), Davao Branch.

(6382) 224-0996

clpaulma@accralaw.com

Higala gets $2.8 million in fresh funds for platform banking rollout

March 19, 2025 | 12:01 am

INSTANT PAYMENT system Higala has secured fresh funds from two venture capital firms to extend its seed funding round to $2.8 million, which will help fund its platform bank that will be rolled out next quarter.

The seed fund extension round was led by 1982 Ventures, a Singapore-licensed venture capital firm that invests in fintech startups in Southeast Asia. Also joining the round was Talino Venture Studios.

Higala is owned by Talino Venture Studios and Chemonics International.

“This funding milestone of Higala will greatly benefit its robust ecosystem, which now includes an instant payment system, a platform bank, and an extensive network of collaborators who are all committed to improving financial system resilience and accelerating the adoption of digital banking,” Higala and Talino Venture Studios Chief Executive Officer Winston L. Damarillo said at a media briefing on Tuesday.

“In fact, we have a very good long queue of funding. The next stage is once you launch, we’re going to raise another set of funding to scale the money,” Mr. Damarillo said.

Higala’s platform banking will allow smaller financial institutions to offer digital payment services.

Rizal Commercial Banking Corp. (RCBC) recently partnered with Higala to provide the core technology to SynerFi, an open payments platform.

“Some of the banks that have been publicly announced as part of Higala’s network include the initial 40 participants to RCBC’s SynerFi service and select rural banks that are part of the RCBC ATMGo network,” Higala said.

“This is the realization of BSP’s open finance roadmap initially focusing on open payments use cases making digital transactions more seamless and frictionless,” RCBC Executive Vice-President and Chief Innovation and Inclusion Officer Angelito M. Villanueva said. — A.E.O. Jose

National Government fiscal performance

March 19, 2025 | 12:01 am

THE NATIONAL Government’s (NG) budget surplus narrowed in January, as state spending growth outpaced that of revenue collection, the Bureau of the Treasury (BTr) said. Read the full story.

How PSEi member stocks performed — March 18, 2025

March 19, 2025 | 12:00 am

Here’s a quick glance at how PSEi stocks fared on Tuesday, March 18, 2025.

Peso edges up before US Fed policy review

March 18, 2025 | 9:00 pm

THE PESO inched up against the dollar on Tuesday before the US Federal Reserve’s two-day policy meeting, which was scheduled to start overnight.

The local unit closed at P57.295 per dollar on Tuesday, strengthening by half a centavo from its P57.30 finish on Monday, Bankers Association of the Philippines data showed.

The peso opened Tuesday’s session stronger at P57.21 against the dollar. Its worst showing was at P57.36, while its intraday best was at P57.20 versus the greenback.

Dollars exchanged rose to $1.11 billion from $1.02 billion on Monday.

“The dollar-peso initially traded lower on softer-than-expected US retail sales and manufacturing data, but bounced back to trade at a tight range on market caution ahead of the Fed meeting,” a trader said in a phone interview

The weaker data supported bets that the Fed could resume its easing cycle within the year, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

For Wednesday, the trader expects the peso to move between P57 and P57.50 per dollar, while Mr. Ricafort sees it ranging from P57.20 to P57.40.

“The local currency might continue to gain ground [on Wednesday] on likely softer US housing data overnight,” a second trader said, forecasting a range of P57.15 to P57.40.

US retail sales rebounded marginally in February as consumers pulled back on discretionary spending, reinforcing the growing uncertainty over the economy against the backdrop of tariffs and mass firings of federal government workers, Reuters reported.

Nonetheless, the report from the Commerce department on Monday suggested that the economy continued to grow in the first quarter, though at a moderate pace.

Retail sales rose 0.2% last month after a downwardly revised 1.2% decline in January, which was the biggest drop since November 2022, the Commerce department’s Census Bureau said.

Economists polled by Reuters had forecast retail sales, which are mostly goods and are not adjusted for inflation, advancing 0.6% after a previously reported 0.9% drop in January.

That decline followed hefty gains in the fourth quarter and winter storms in many parts of the country in January as well as wildfires in California.

US President Donald J. Trump’s raft of tariffs, which have unleashed a trade war, has ignited worries about inflation as well as job and income losses, developments that could undercut consumer spending. Mass layoffs of public workers as part of an unprecedented campaign by the Trump administration to shrink the federal government are also seen hurting spending.

Federal Reserve officials meeting on Tuesday and Wednesday are expected to leave the US central bank’s benchmark overnight interest rate in the 4.25%-4.5% range, having reduced it by 100 basis points since September, and continue to assess the economic impact of the Trump administration’s policies.

Financial markets expect the Fed to resume cutting borrowing costs in June after it paused its easing cycle in January amid a darkening economic outlook.

The dollar index, which measures the currency against six key rivals, has dropped around 6% from the more than two-year peak of 110.17 hit in mid-January. It was last up 0.13% at 103.59. — A.M.C. Sy with Reuters

PSEi halts three-day rally on trade war concerns

March 18, 2025 | 9:00 pm

THE BENCHMARK stock index dropped on Tuesday, ending a three-day rally, as trade war concerns weighed on the market.

The Philippine Stock Exchange index (PSEi) fell by 0.34% or 21.51 points to end at 6,284.68 on Tuesday. Meanwhile, the broader all shares index inched up by 0.27 point to 3,723.09.

“Philippine shares gave up some gains after trading in the green recently driven by tariff uncertainties and weak consumer confidence, with retail sales in the United States rising 0.2%, below forecasts,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

“Markets remain volatile amid US President Donald J. Trump’s shifting trade policies and Elon Musk’s cost-cutting moves, while officials brace for economic turbulence to push reforms,” he added.

US retail sales rebounded marginally in February, but fell short of expectations, reflecting the increasing uncertainty over tariffs and large-scale firing of federal government employees, Reuters reported.

Mr. Trump’s tariff hikes will drag down growth in Canada, Mexico and the United States while driving up inflation, the Organization for Economic Cooperation and Development forecast on Monday.

Global growth is on course to slow slightly from 3.2% in 2024 to 3.1% in 2025 and 3% in 2026, the Paris-based policy forum said, cutting its projections from 3.3% for both this year and next in its previous economic outlook, issued in December.

Mr. Trump, speaking aboard Air Force One on route to Washington, also repeated he had no plans to create exemptions for the 25% steel and aluminum tariffs that went into effect last week.

“The PSEi corrected slightly lower, considered a healthy correction after gaining for three straight trading days… after recent reports of upcoming share sales that could increase supply of stocks and could also cause some fund shifts from existing stocks towards these new stock offerings,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

Majority of sectoral indices closed lower on Tuesday. Services dropped by 0.68% or 14.22 points to 2,070.54; financials went down by 0.41% or 10.04 points to 2,418.42; industrials declined by 0.22% or 19.82 points to 8,702.65; and holding firms inched down by 0.21% or 10.98 points to 5,221.16.

Meanwhile, mining and oil went up by 2.63% or 234.42 points to 9,116.90 and property climbed by 0.66% or 14.65 points to 2,230.79.

Value turnover increased to P8.47 billion on Tuesday with 1.30 billion shares traded from the P5.26 billion with 1.33 billion issues exchanged on Monday.

Advancers beat decliners, 100 versus 92, while 44 names were unchanged.

Net foreign buying declined to P337.16 million on Tuesday from the P357.25 million on Monday. — Revin Mikhael D. Ochave with Reuters

PPP project pipeline valued at P2.6 trillion as of March 10

March 18, 2025 | 8:36 pm

THE Public-Private Partnership (PPP) Center said the pipeline of PPP projects was valued at P2.6 trillion as of March 10, with the addition to the list of maximum-security prisons.

The pending projects had been valued at P2.47 trillion a month earlier.

According to the PPP Center, the Bureau of Corrections (BuCor) Project KILO seeks to create four modern “Supra-Regional Prisons” (SRPs) that can hold 55,000 prisoners.

The BuCor will also build a Bureau of Corrections Head Office and Central Reception and Diagnostic Center.

Also added to the list was the P1.56-billion Metropolitan Manila Development Authority Emergency Response Center. The project consists of a 15-storey building that will serve as its emergency operations center.

Also added was the P344-million Development of Water Supply System for the Municipality of Mangatarem project in Pangasinan, which will provide potable water to 62 barangays in Phase I; and the P110-million Localized Online Visitor Ecosystem Metro Manila: Phase 2 of the Philippine Tourism Digitalization Project.

A Septage Treatment Plant in Sagay City, Negros Occidental also joined the list, with a cost of P70 million.

Other projects are the O&M of the Panguil Bay Bridge Project, the Public-Private Partnerships for School Infrastructure Project Connect and the TUBO: A Tariff and Utility Blueprint for Water Operations Model for the Iligan City Waterworks System.

Of the eight new projects, six are national level while two are local. Five of the six projects were solicited, according to a document released to reporters on March 18.

Meanwhile, the PPP Center also delisted six projects, consisting of two national and four local projects.

Of the projects that were delisted, the Aquilino Q. Pimentel, Jr. International Convention Center Project in Cagayan de Oro City was removed from the pipeline “following its award and is now reflected in the PPPC database of projects under implementation.”

The P1.87-billion Cavite Bus Rapid Transit System was also removed for the same reason. — Aubrey Rose A. Inosante

Hopes pinned on FTAs, CREATE MORE law to spur export growth

March 18, 2025 | 8:35 pm

EXPORTERS said they are banking on the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act and free trade agreements (FTAs) to serve as export growth drivers this year.

“Our exports of goods and services may only reach $110 billion this year,” Philippine Exporters Confederation, Inc. (Philexport) President Sergio Ortiz-Luis, Jr. said at a general membership meeting on Tuesday.

The Philexport projection is below the $113.42-billion target set in the Philippine Development Plan and the $163.6-billion target set in the Philippine Export Development Plan.

“In addition to the insufficient budget for export promotion, we will continue to face key domestic and external risks this year,” Mr. Ortiz-Luis said.

These risks include weather disturbances, extreme natural disasters, an acute and protracted global economic slowdown in major economies, ongoing geopolitical tensions and conflicts, trade wars, and protectionist trade policies, especially in the US, he added.

He called the CREATE MORE Act and the proposed FTA with the European Union (EU) as potential silver linings.

“The CREATE MORE Act is expected to effectively position the Philippines as a key investment destination,” he said.

“An FTA between the Philippines and the EU is likewise on track for completion next year, with significant progress made during last month’s second round of talks,” he added.

He said that the FTA will not only enhance market access for goods, services, and investment, but also address emerging trade areas such as critical growth, materials, climate change, environmental sustainability, labor, and governance.

“The EU currently accounts for 11% of Philippine exports and 6% of its imports. In terms of investments, the EU is one of our largest sources, with approved investment of $13.4 billion in 2023,” he added.

He said that the group is also looking at the reauthorization of the US Generalized System of Preferences (GSP), which had eliminated duties on 5,000 tariff lines until it expired on Dec. 31, 2020.

“We were the fifth-largest beneficiary of the US GSP, with about $1.6 billion in duty-free exports entering the US that year,” he said.

“The Department of Trade and Industry (DTI) is gauging interest from the second Trump administration in an FTA, while seeking reauthorization of the GSP, and the establishment of a critical minerals agreement,” he added. — Justine Irish D. Tabile

Meat, fish prices rise in early March

March 18, 2025 | 8:35 pm

Meat pork market — PHILIPPINE STAR/ EDD GUMBAN

MEAT and fish prices rose in early March, the Philippine Statistics Authority (PSA) said in a report.

The price of fresh pork belly (liempo) in the March 1-5 period, which the PSA calls the first phase of March, rose to P384.08 per kilo from P378.84 in the previous monitoring period of Feb. 15-17 and P375.02 a month earlier, the PSA said.

It said a kilo of round scad (galunggong) retailed for an average of P235.26 per kilo in early March, against P231.24 in the second phase of February and P226.43 a month earlier.

The government imposed a maximum suggested retail price (MSRP) of P380 per kilo for liempo and at P350 for kasim (shoulder) and pigue (rear leg) beginning March 10.

The Department of Agriculture (DA) also imposed a maximum suggested price of P300 per kilo on traders when they pass pork on to retailers.

The level of compliance with the pork MSRP remains low over a week since it took effect, the DA said on Monday, attributing the persistent high prices to the high wholesale prices charged by traders.

The government first applied the MSRP scheme to rice, initially setting it at P58 per kilo.

The PSA said a kilo of regular-milled rice averaged P46.30 per kilo at retail during the first phase of March, against P47.19 in the second phase of February and P47.77 a month earlier.

Inflation eased to 2.1% in February from 2.9% in January as rice inflation dropped to 4.9%, the sharpest decline since April 2020.

The PSA said tomato averaged P75.65 per kilo at retail during the first phase of March, against P90.64 in the second phase of February and P109.42 a month earlier.

In early March, the farmgate price of tomato was as low as P4 per kilo in some parts of the country due to excessive supply.

The PSA said native garlic retailed for a national average of P185.73 per kilo during the first phase of March, against P183.75 in the second phase of February 2025 and P182.35 a month earlier.

Carabao mango averaged P176.99 per kilo at retail on March 1 to 5 from P182.74 in the second phase of February and P191.19 a month earlier.

The PSA said the average retail price of cooking oil increased was P171.18 per liter in early March from P170.20 in the second phase of February and P170.24 a month earlier. — Kyle Aristophere T. Atienza