The Export Development Council (EDC) manifests its support on the full investment liberalization outside of the natural monopolies through a joint statement of support with the Industry Leaders, namely the Philippine Chamber of Commerce and Industry (PCCI), Philippine Exporters Confederation, Inc. (PHILEXPORT), Employers Confederation of the Philippines (ECOP), and Supply Chain Management Association of the Philippines (SCMAP).
With the group mentioned, EDC strongly opposes moves to return transportation, telecommunication, and power generation back to the definition of Public Utilities. Continue reading EDC and Industry Leaders support full investment liberalization outside of the natural monopolies
There is a silver lining on the issue of lack of vessel space and containers, as another Philippine shipping company based in Mindanao, the Reefer Express Line Filipinas, Inc. takes on long haul US route with its vessel MV Cool Spirit to help the exporters ship their goods amid the current global transport and logistics problem. The voyage started from General Santos City last 02 September 2021. Continue reading Mindanao-based Reefer Line offers US shipping services at lower cost
The Philippine Exporters Confederation, Inc. (PHILEXPORT) is launching a digitalization program to ensure business sustainability and resiliency amid the pandemic’s economic consequences.
Executive Vice President Senen Perlada introduced the PHILEXPORT: 30 and Future Ready, or simply P30, at the organization’s third general membership meeting on September 14, 2021. P30 would also be the theme of the PHILEXPORT’s 30th anniversary in October 2022.
The program has a two-pronged approach: aiming to leverage technology to enhance business decision-making; and fostering stakeholders’ collaboration. Increasing productivity and business continuity while saving resources and continuously moving forward. Continue reading PHILEXPORT P30: A Program for Resilient Philippine Exporters
The Royal Cargo, Inc. (RCI) will commence its maiden voyage to Los Angeles by mid-September this year. Its launch will be made through one of the vessels of Iris Logistics Inc. (Iris Paoay), a Philippine shipping company 80% owned by RCI. Iris Paoay is a general container cargo vessel with 1100 TEUs capacity.
The maiden voyage will be a direct, non-stop service between the Philippines (MNL-CEB-DVO) and the US (LA). Continue reading Royal Cargo commences maiden voyage to LA by mid-September
The Department of Finance (DOF), Bureau of Customs (BOC), together with the Anti-red Tape Authority (ARTA) headways the onboarding activities of the eighteen (18) trade regulatory priority agencies in TradeNet; Six (6) of which were recently onboarded which include BAFS, SRA, FPA, EMB, NMIS and OMB. These agencies are still finalizing their module manuals, operational guidelines, and helpdesk in preparation for their live implementation. The TradeNet Steering Committee also pledged to include another twelve (12) agencies to onboard by September 2021.
Continue reading DOF-BOC-ARTA headways onboarding activities of the 18 priority agencies in TradeNet
The Bureau of Customs (BOC) prepares the PH live exchange of the ASEAN Customs Declaration Document (ACDD) by December 2021, via the TradeNet. The completion of the ACDD system’s bidding process received concurrence from the United States Agency for International Development’s (USAID) on 05 August 2021. BOC is now crafting a national master data plan with the USAID ASEAN Policy Implementation (API) Project Team for Interoperability. Continue reading BOC prepares PH Live Exchange of the ASEAN Customs Declaration Document via TradeNet
The Department of Trade and Industry (DTI) partners with the Union Bank of the Philippines (UnionBank) in fostering financial resilience for MSMEs. UnionBank presented during a webinar their initiatives on assisting the micro, small, and medium enterprises (MSMEs) amidst the digital shift, focusing on their products, namely the MSME Business Banking App, UPay, and SeekCap, all geared towards financial resilience.
The MSME Business Banking App is a financial platform designed to address important bottlenecks of MSMEs in their quest to innovate their businesses. Particularly in getting started in the online digital space, accessing finance, managing cashflows, and enabling payments for their goods and services.
Continue reading DTI partners with Unionbank in fostering financial resilience for MSMEs
EDC lauds the Department of Finance (DOF) and Bureau of Internal Revenue (BIR) on deferring the implementation of Revenue Regulation (RR) no. 9-2021, which levies 12% VAT on indirect exports pending issuance of an amendatory regulation. BIR will provide the transition process for those who already paid the 12% VAT while the RR was in effect from June 27 to July 21, 2021.
DOF and BIR granted the petition of the grappling MSMEs passionately echoed by Albay Rep. Joey Salceda during the Committee Briefing on Ways and Means on July 21, 2021. The solon added that we are not yet over the pandemic hence suggested it is best deferred as a way of support to the sector.
Continue reading EDC lauds DOF and BIR deferment of 12% VAT on indirect exports
The Export Development Council’s (EDC) Networking Committee on Transport and Logistics (NCTL) and the Supply Chain Management Association of the Philippines (SCMAP) recommended the postponement of the proposed rate increases of the Manila North Harbour Port, Inc. (MNHPI).
MNHPI presented their petition for a 15.33% upward adjustment in cargo handling tariff and passenger terminal fee at the North Port at a virtual public hearing dated 02 July 2021. Continue reading EDC and SCMAP endorse the postponement of Manila North Harbor’s proposed rate increase