DOCSLIB.ORG

JUNE 25, 2021 DOF, DTI Sign CREATE IRR Ahead of the 90-Day

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
JUNE 25, 2021 DOF, DTI Sign CREATE IRR Ahead of the 90-Day JUNE 25, 2021 DOF, DTI sign CREATE IRR ahead of the 90-day deadline Finance Secretary Carlos Dominguez III and Trade and Industry Secretary Ramon Lopez signed on Monday (June 21, 2021) the implementing rules and regulations (IRR) of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, more than two weeks ahead of the July 10, 2021 deadline set under this law. Micro, small and medium enterprises (MSMEs) will be the biggest beneficiaries of CREATE with the corporate income tax (CIT) rate reduction. The signing of the IRR is also seen by the Department of Trade and Industry (DTI) to attract more investors to grow their businesses and “make it happen in the Philippines," in reference to the DTI's new investment production campaign dubbed "Make It Happen in the Philippines." Dominguez and Lopez thanked stakeholders from the private sector and other government agencies such as the investment promotion agencies (IPAs) for their inputs on the IRR during the multiple rounds of consultations held over the past two months. "The approval of the IRR covering Title XIII of the Act following multiple consultations with the various stakeholders and way ahead of schedule highlight the Duterte administration's commitment to come up with an effective, efficient, and fiscally- responsible incentive system, which, hopefully, will set the standard in the region. We should stop instigating a 'race to the bottom' in tax regimes that only compromises the capacity of the state to provide for the public,” Dominguez said. “The inputs provided by stakeholders have helped us improve the IRR and provide clarity on the implementation of the new Title XIII on tax incentives in the Tax Code. With the release of the IRR, we expect our IPAs to go full steam ahead on attracting investments that will enhance investments in the country, create quality jobs, and improve the lives of Filipinos,” Lopez said. The CREATE Act is the largest fiscal stimulus package for businesses in the country’s history, providing private enterprises more than P1 trillion worth of tax relief over the next 10 years with a significant cut on the tax rate for corporations. The law cuts the regular CIT rate by up to 10 percent, from 30 percent to 20 percent for domestic corporations with a taxable income of P5 million and below, and with total assets of not more than P100 million; and 25 percent for big corporations with assets of above P100 million. The CREATE law also introduces an enhanced incentives package that is performance- based, time-bound, targeted, and transparent. The reconstituted Fiscal Incentives Review Board (FIRB), chaired and co-chaired by Dominguez and Lopez, respectively, previously instructed the IPAs to identify at least two leading companies in each industry tier in the Strategic Investment Priority Plan (SIPP) and to determine what incentives should be offered to these potential investors to encourage them to set up shop in the Philippines. The FIRB serves as the oversight body for the country’s 13 existing IPAs to ensure that registered business enterprises (RBEs) receiving tax breaks would eventually deliver the investments and jobs they had promised when they sought such fiscal incentives from the government. With the issuance of the IRR covering the incentives section, the CREATE Law can be fully implemented given the previous Revenue Regulations (RRs) on the other tax provisions that were released by the Department of Finance (DOF) and the Bureau of Internal Revenue (BIR). The IRR clarifies several questions that were raised during the consultations that include, among others, the scope of the enhanced deductions, the items that are allowed to be considered as deductions to arrive at the gross income about the special rate, and the total length of the transition period for currently registered activities or projects. “These provisions in the IRR are all intended to ensure that the law is properly implemented following the core principles of granting incentives based on the significant contribution of business enterprises to the economy,” Dominguez said. While all applications for registration and tax incentives shall be filed electronically through the FIRB system, the IRR allows the use of existing IPA systems, so long they are interoperable with, and can be linked to, the FIRB system. This will allow the IPAs to continue facilitating the speedy assessment of applications. Lopez said, “the IRR also requires all IPAs to establish a one-stop action center or expand the services of their existing one-stop action centers through a physical or virtual setup within one year from the effectivity of IRR, subject to budgetary support and available resources. Our government is committed to making business in the Philippines competitive. We have put in place incentives that create an investor- friendly landscape where investors can set up their businesses at a lower cost.” The IRR takes effect immediately upon publication in a newspaper of general circulation. -oOo- .
Load more

Recommended publications
  • Dut E Rt E ' S Ca Bin E T M E M Be Rs
    3/27/2017 The Duterte Administration ­ INQUIRER.net Who is Rody? SWS Trust Ratings Speeches The Kill List D U T E R T E ' S C A B I N E T M E M B E R S COMPILED BY: INQUIRER RESEARCH AND SARA ISABELLE PACIA SALVADOR MEDIALDEA OFFICE OF THE EXECUTIVE SECRETARY Position: Executive Secretary Link with Duterte: Childhood friend Part of Duterte presidential transition committee Education: BS Management, Colegio San Juan de Letran, 1972 Bachelor of Laws, San Beda College, 1976 Government experience: Administrator of the Livelihood Corp., Sept. 23, 1998 Presidential Assistant for Political Affairs, July 19, 2000 to Oct. 31, 2000 Private sector/corporate work: Ponce Enrile Cayetano Bautista Picazo & Reyes Law Ofꠄce, joined in 1983 and partner until August 1990 Began law career at Angara Abello Concepcion Regala & Cruz Law Ofꠄce http://www.inquirer.net/duterte/cabinet 1/24 3/27/2017 The Duterte Administration ­ INQUIRER.net Political party afꠄliation a nd other advocac ies: Who is Rody? SWS Trust Ratings Speeches The Kill List President, Integrated Bar of the Philippines (Rizal Chapter), 1985 to 1987 IBP Director, 1983 to 1985 Charter member of the Rotary Club of Makati Southwest Secretary General of the Asean Law Association Golfers’ Club Member, Board of Trustees, San Beda Law Alumni Association PERFECTO YASAY DEPARTMENT OF FOREIGN AFFAIRS Position: Foreign Affairs Secretary Link with Duterte: Old dormitory roommate while studying at the University of the Philippines Duterte was studying law at San Beda College of Law Education: Bachelor of Laws,
    [Show full text]
  • Branch Banking News
    WHAT’S INSIDE PARTNERSHIPS AT WORK PAGE 3-4 Paving the way home for Filipinos worldwide PAGE 5-6 LANDBANK Client Appreciation Event ends in Legazpi City 3-4 Financial Inclusion makes final stop in Sorsogon OVERSEAS FILIPINO BANK LAUNCHED FEATURE STORY PAGE 7-8 ENDURING FOR STRENGTH, GROWING IN CHANGE The story of Mindanao Consolidated Cooperative Bank OTHER STORY 7-8 PAGE 9-10 MYRNA A. SESCON HELPING THE COUNTRY GROW TALKS ABOUT SURVIVING IN THE LANDBANK reaches out to Marawi COOPERATIVE BANKING INDUSTRY PAGE 11-12 THE SEARCH IS ON The LANDBANK 2018 Client Recognition Programs BRANCH BANKING NEWS & UPDATES PAGE 13-14 LANDBANK 3D Secure OTP 9-10 LANDBANK adds LBC to list of LANDBANK remittance pick-up service partners LANDBANK Link.BizPortal REACHES OUT TO MARAWI FOLLOW US ON: landbankofficial @LBP_Official Harvest Magazine is also available online at www.landbank.com LETTER FROM THE EDITOR n this issue, we take stock of a few highlights of the journey LANDBANK has taken in 2017, fulfilling its promise Iof always helping the country grow. This month of March saw the culmination of two significant client programs -- the Client Appreciation Celebration and Financial Inclusion (FI) Caravan. Both of these months-long efforts that kicked off during the Bank’s 54th year in 2017 are becoming part of our anniversary tradition. They also help us bring to light our immense gratitude to all our valued clients, and further the cause of building a financially sound nation through basic banking activities and education in the countryside. We are proud to say that these initiatives have given us recognition to be thankful for, with the FI Caravan winning at the recent Anvil Awards.
    [Show full text]
  • P00-49 TWF ASEAN 2017.Indd
    CUSTOM INVESTMENT GUIDE 13-15 NOVEMBER 2017 ASEAN SUMMIT 2017 PHILIPPINES 50 YEARS OF REGIONAL INTEGRATION THE ASEAN REACHES HALF A CENTURY OF REGIONAL INTEGRATION EFFORTS IN A SPECIFIC CONTEXT THAT HAS MADE ITS MEMBERS BECOME CLOSER EVERYDAY; ON THE OTHER SIDE JAPAN IS SET TO BE THE MAIN PARTNER OF THE ASEAN THROUGH SUSTAINABLE INVESTMENT, KNOWLEDGE TRANSFER AND INFRASTRUCTURE DEVELOPMENT FOSTER PEACE AND STABILITY, STRENGTHEN MARITIME SECURITY AND COOPERATION, PROMOTE INCLUSIVE GROWTH, PURSUE REGIONAL GROWTH WWW.THEWORLDFOLIO.COM The Worldfolio - ASEAN 2 3 The Worldfolio - ASEAN STAFF Manila Skyline Alvaro Javier Llaryora CEO Jose Antonio Santoyo Llamas Business Development Aylin Parla Project Director Lukas Kollenz Editorial Director Alejandro Ruiz Luque Editorial Associate Fabrizio Fitzgerald Farina Institutional Relations Jonathan Meaney Chief Editor Ignacio Plasencia Art Direction Eduardo Bertone Art Direction Veronica Tapia Merk Philippines Sales Representative KNOWLEDGE PARTNERS Makati Business Club & Japan Bank of International Cooperation The Worldfolio - ASEAN 4 TABLE OF CONTENTS 7 ‘Dutertenomics’: 14 ASEAN: 23 Philippines set to Building sustainable and Celebrating 50 years of progress become Japan’s prime partner inclusive growth and achievements in ASEAN 34 Cagayan Special 45 Building a thriving 50 ‘The golden age Economic Zone and Freeport eyes agro-industry of infrastructure’ massive expansion 63 A three-point plan 66 No longer a mere contract 72 Tourism arrivals to reach for ICT electronics a record 7m this year 5 The Worldfolio - ASEAN A MESSAGE FROM THE PRESIDENTIAL COMMUNICATIONS OPERATIONS OFFICE OF THE REPUBLIC OF THE PHILIPPINES Secretary Jose Ruperto Martin M. Andanar, Presidential Communications Operations Office Philippines Welcome to the Philippine-led initiative of pursuing the ASEAN priority of inclusive and innovative growth for the individual member nations and for the collective progress of the regional community as a whole.
    [Show full text]
  • Change in Schedule of Pre-SONA Forum 2020
    Republic of the Philippines National Economic and Development Authority MEMORANDUM VERY URGENT FOR : Executive Secretary Salvador Medialdea OES Secretary Carlos Dominguez III DOF Acting Secretary Karl Chua NEDA Secretary Mark Villar DPWH Secretary Arthur Tugade DOTr Secretary Gregorio Honasan II DICT Secretary William Dar DA Secretary Ramon Lopez DTI Secretary Wendel Avisado DBM Secretary Fortunato de la Peña DOST Secretary Bernadette Romulo-Puyat DOT Secretary Alfonso Cusi DOE Secretary Eduardo Año DILG Secretary Karlo Nograles OCS Secretary Isidro Lapeña TESDA Undersecretary Ferdinand Cui, Jr. PMS Governor Benjamin Diokno BSP SUBJECT : CHANGE IN TIME SCHEDULE OF THE “ECONOMIC DEVELOPMENT CLUSTER (EDC) AND INFRASTRUCTURE CLUSTER (IC) PRE-SONA FORUM 2020” ON 08 JULY 2020 FROM : EDC Secretariat DATE : 06 July 2020 1. Please be advised that the time of the 2020 Pre-SONA Economic Development Cluster (EDC) and Infrastructure Cluster (IC) Forum: Regaining Momentum, Accelerating Recovery in a Post COVID-19 World on 08 July 2020 has now been changed to 11:00 AM from 9:00 AM. 2. In this regard, the PCOO, through the EDC Secretariat, requests all EDC member agencies to post in their respective Facebook pages the Pre-SONA Schedule Update Image together with its proposed caption (kindly see attached Pre-SONA Schedule Update Image and Proposed Caption on Schedule Update). 3. Note that this is based on the latest instruction of the PCOO. 4. For questions and clarifications, your designated staff may wish to contact Mr. Antonio Jose G. Leuterio and Ms. Rodelyn L. Rodillas at e-mail addresses [email protected] and [email protected], respectively.
    [Show full text]
  • President Rodrigo Duterte's Economic Team
    Received by NSD/FARA Registration Unit 07/31/2020 6:07:26 PM Media Releases (February to June 2020) 1. March 16 Media Release: Philippine DoF pledges over USD525 million to support health authorities and provide economic relief during COVID-19 March 16, 2020 PRESS RELEASE Gov’t economic team rolls out P27.1 B package vs COVID-19 pandemic President Rodrigo Duterte’s economic team has announced a P27.i-billion package of priority actions to help frontliners fight the 2019 coronavirus disease (COVID-19) pandemic and provide economic relief to people and sectors affected by the virus-induced slowdown in economic activity. The package consists of government initiatives to better equip our health authorities in fighting COVID-19 and also for the relief and recovery efforts for infected people and the various sectors now reeling from the adverse impact of the lethal pathogen. Finance Secretary Carlos Dominguez III, who chairs the Duterte Cabinet's Economic Development Cluster (EDC), said on Monday the measures in the package “are designed to do two things: First is to ensure that funding is available for the efforts of the Department of Health (DOH) to contain the spread of COVID-19. Second is to provide economic relief to those whose businesses and livelihoods have been affected by the spread of this disease.” “As directed by President Duterte, the government will provide targeted and direct programs to guarantee that benefits will go to our workers and other affected sectors. We have enough but limited resources, so our job is to make sure that we have sufficient funds for programs mitigating the adverse effects of COVID-19 on our economy,” he added.
    [Show full text]
  • The Philippines: Paving the Road to Recovery
    INVESTOR RELATIONS OFFICE The Philippines: Paving the Road to Recovery Newsletter Q1 2021 Table of Contents 1 CREATE, Philippines’ biggest stimulus for businesses, now a law 2 3 3 4 Philippines poised for firm rebound 5 6 6 7 8 Philippines adopts ‘whole-of-government’ pandemic response 9 ­ 9 12 12 13 14 Quick Stats 17 Editorial Sta Paving the Road to Recovery CREATE, Philippines’ biggest stimulus for Tax cuts and incentives In particular, enterprises whose investments qualify COVID-19 and health incentives under the government’s Strategic Investment businesses, now a law CREATE slashes the corporate income tax (CIT) from Priority Plan (SIPP) may avail of income tax holiday With the fight against COVID-19 a top priority, CREATE likewise grants value-added tax (VAT) exemption to the 30 percent to 20 percent for small enterprises with (ITH) of 4 to 7 years. Once the ITH lapses, other tax following activities: (i) importation of capital equipment and raw materials for the production of personal net taxable income of P5 million and below, and perks may still be applied for. protective equipment (PPE); (ii) sale and importation of all prescription drugs, medical supplies, devices, and with total assets of not more than P100 million, equipment for COVID-19; and (iii) sale and importation of anti-COVID 19 vaccines. Cut in corporate tax, rationalization of incentives to help boost excluding land. It will also reduce CIT for large firms For exporters, either one of two options for tax investments, economic recovery to 25 percent, which is within the range in other incentive is available following the expiration of the The law likewise grants VAT exemption to sale and importation of prescription drugs for cancer, mental illness, tuberculosis, and kidney-related diseases.
    [Show full text]
  • Top Officials Express Optimism in PHL Economic Recovery
    Press Release AASC-056-2020 Top Officials Express Optimism in PHL Economic Recovery 11 August 2020, Los Angeles – Top Philippine economic officials joined a virtual briefing conducted by the country’s Development Budget Coordination Committee (DBCC) on the government’s successes in its CoViD-19 response plan and the way forward. The virtual briefing entitled, “2020 Second Quarter Performance of the Philippine Economy,” was held on 06 August 2020 and featured updates from Chief Economic Development Officer and NEDA Acting Secretary Karl Kendrick Chua; Secretary of Budget and Management Wendel Avisado; Infrastructure czar and BCDA President Vince Dizon; and Secretary of Finance Carlos Dominguez III. According to Secretary Dominguez, responsive fiscal measures are at the forefront of the Philippine government's protracted war against coronavirus. The government has given priority to providing fiscal stimulus, recalibrating the 2021 national budget, and the continuation of massive infrastructure projects to stimulate economic growth. The country’s CoVid-19 response plan is backed by PhP374.89 billion funding cascaded to various agencies, according to Secretary Avisado. The agency supports the passing of the Bayanihan II Bill to sustain an effective pandemic response strategy. Prior to the CoViD-19 pandemic, the Duterte Administration launched a massive infrastructure program dubbed, “Build, Build, Build,” which is envisioned to usher in the “Golden Age of Philippine Infrastructure.” This landmark program thrives amidst the pandemic, according to BCDA President Dizon. Building continued even during the general community quarantine and to date, there were 121 airport projects, 369 commercial and social tourism ports and almost 24,000 km of new roads that have been completed.
    [Show full text]
  • 30 APRIL 2021, FRIDAY Headline STRATEGIC April 30, 2021 COMMUNICATION & Editorial Date INITIATIVES Column SERVICE 1 of 2 Opinion Page Feature Article
    30 APRIL 2021, FRIDAY Headline STRATEGIC April 30, 2021 COMMUNICATION & Editorial Date INITIATIVES Column SERVICE 1 of 2 Opinion Page Feature Article DENR breathes down Manila Bay polluter's neck Published April 29, 2021, 7:47 PM by Ellson Quismorio The Department of Environment and Natural Resources (DENR) is going after the owner of a vessel that had been pinpointed as the source of the untreated wastewater that was dumped in Manila Bay over the weekend. DENR Secretary Roy Cimatu (Screengrab from Zoom meeting) A notice of violation will be slapped against the owner of MV Sarangani, a statement from the DENR said Thursday, April 29. It was only last Monday, April 26, when DENR Sec. Roy A. Cimatu visited the priority area of the Manila Bay rehabilitation and discussed the incident with representatives of the Philippine Coast Guard (PCG), the local government of Manila, Metropolitan Manila Development Authority (MMDA), Laguna Lake Development Authority (LLDA), Manila Bay Coordinating Office, Philippine Ports Authority (PPA), and Environmental Management Bureau (EMB). “After the investigation, if the shipowner is found liable, the DENR will impose fines. Additionally, the owner has to rehabilitate the vessel to avoid destruction to the environment, and the pollution of our waters,” said Cimatu. “We hope to get to the bottom of this issue during the investigation,” he stressed. The samples taken from the actual discharge area showed an effluent fecal coliform count of 1,700 most probable number per 100 milliliters (MPN/100 mL) based on the report of EMB, DENR Undersecretary for Policy, Planning and International Affairs Jonas R.
    [Show full text]
  • Souhrnná Terirotální Informace Filipíny
    SOUHRNNÁ TERITORIÁLNÍ INFORMACE Filipíny Souhrnná teritoriální informace Filipíny Zpracováno a aktualizováno zastupitelským úřadem ČR v Manile (Filipíny) ke dni 10. 1. 2020 1:00 Seznam kapitol souhrnné teritoriální informace: 1. Základní charakteristika teritoria, ekonomický přehled (s.2) 2. Zahraniční obchod a investice (s.11) 3. Vztahy země s EU (s.19) 4. Obchodní a ekonomická spolupráce s ČR (s.22) 5. Mapa oborových příležitostí - perspektivní položky českého exportu (s.29) 6. Základní podmínky pro uplatnění českého zboží na trhu (s.41) 7. Kontakty (s.54) 1/62 http://www.businessinfo.cz/filipiny © Zastupitelský úřad ČR v Manile (Filipíny) SOUHRNNÁ TERITORIÁLNÍ INFORMACE Filipíny 1. Základní charakteristika teritoria, ekonomický přehled Filipíny jsou nejstarší demokracií v regionu jihovýchodní Asie s nadějně se rozvíjející ekonomikou s prozápadní kulturou. Země je jediným asijským státem s dominantním křesťanstvím (katolická církev, značný zájem o Pražské Jezulátko). Blízkost kultur, potenciál Filipín stát se v dohledné době jednou z 20 největších ekonomik světa a také schopnost ČR se v zemi prosazovat lépe než v tradičních asijských tygrech předjímá intenzitu vztahů a silný vzájemný zájem o spolupráci. MZV ČR proto podporuje rozšiřování spolupráce s Filipínami i na ostatní resorty mimo obvyklou zahraniční politiku, obchod a cestovní ruch. V současnosti se tak již rozvíjí spolupráce v resortech obchodu, financí, obrany, zemědělství, životního prostředí a školství. Podkapitoly: 1.1. Oficiální název státu, složení vlády 1.2. Demografické tendence: Počet obyvatel, průměrný roční přírůstek, demografické složení (vč. národnosti, náboženských skupin) 1.3. Základní makroekonomické ukazatele za posledních 5 let (nominální HDP/obyv., vývoj objemu HDP, míra inflace, míra nezaměstnanosti). Očekávaný vývoj v teritoriu s akcentem na ekonomickou sféru.
    [Show full text]
  • The Daily Dispatch
    The Daily Dispatch April 19, 2017 Feb. 2, 2017 Philippine Stock Market Update TODAY’S TOP NEWS SC issues TRO vs property tax hike in QC The Supreme Court on Tuesday, April 18, issued a temporary restraining order (TRO) on the implementation of a Quezon City government ordinance imposing a hefty increase in real property taxes this year. The new ordinance increases the existing fair market value from 100% to 500%, effective 2017 for land, and 2018 for buildings. Previous Close: 1 Yr Return: $200 M Panda bonds slated for H2 7,588.98 6.90% Finance Secretary Carlos Dominguez III said the government may issue Panda bonds or yuan-denominated Open: YTD Return: securities in the second half of the year. “We’ll probably 7,586.44 10.54% launch it by the third or fourth quarter,” Dominguez said on 52-Week Range: Source: the sidelines of the Dutertenomics Forum yesterday. 6,499.00 - 8,118.44 Bloomberg Nido to drill new well at Galoc Oil Field Foreign Exchange As of April 18, 2017 A new well will be drilled at the Galoc Oil Field offshore Palawan after results of a recent drilling showed no clear US Dollar Philippine Peso signs of oil and gas in commercial quantities. Nido, the oil field operator, said drillship Deepsea Metro I has completed 1 49.657 drilling works through the Galoc Clastic Unit reservoir of the Galoc Mid Area. PDST-R2 Rates As of April 18, 2017 RLC expands footprint in Visayas Tenor Rate Robinsons Land Corp., the real estate arm of the Gokongwei group, is expanding its footprint in the Visayas with two 1Y 2.8218 new malls to open in Leyte later this year.
    [Show full text]
  • Duterte Drops Peace Talks, Threatens to Kill Red Leader Joma Sison
    Duterte ‘will never PH among those with most U.S. Congress to impose 1952 CA earthquake STEALING FREE go to U.S.’ terror incidents sanctions on Russia NEWSPAPER IS A CRIME ! PH NEWS | A2 PH NEWS | A3 WORLD NEWS | A9 COMMUNITY AWARENESS | B3 AB 2612, PLESCIA CRIME WEEKLY ISSUE 70 CITIES IN 11 STATES ONLINE Vol. IX Issue 433 1028 Mission Street, 2/F, San Francisco, CA 94103 Tel. (415) 593-5955 or (650) 278-0692 [email protected] July 27 - Aug 2, 2017 Duterte drops peace talks, threatens to kill Red leader Joma Sison By Daniel Llanto | FilAm Star Correspondent Given the chance, President Duterte said he the government, that is my job,” Duterte said. would kill Communist Party of the Philippines “I am here to bully you and to kill you because (CPP) founder Jose Maria Sison for the death of there’s a war going on between us and you are kill- government troops in the hands of CPP-controlled ing my soldiers,” he said. “Maybe, I will kill you if I New People’s Army (NPA) rebels and also for calling have the chance.” the President a bully because of his supposed iron- “No more (peace) talk, let’s fight,” Duterte said fist policies. as he called the CPP-NPA enemies of the state. “I’ll For the NPA attacks on government facilities save money, buy new equipment, the precision- and personnel even while peace negotiations were guided missile.” going on, as well as the name-calling, an enraged In his State of the Nation Address (SONA), Du- Duterte vowed to now no longer talk with com- terte said he will order soldiers and police to shoot munist rebels and instead, focus his quest for peace the rebels if they continue their atrocities against with Muslim rebels.
    [Show full text]
  • Q4 2018 ISSUE Table of Contents
    INVESTOR RELATIONS OFFICE Think Growth. Think Philippines. Q4 2018 ISSUE Table of Contents PHILIPPINE ECONOMY IN NUMBERS 1 Philippines keeps robust growth in 2018 3 Quick Stats 5 Monthly Report on Inflation for December 2018 6 Maiden ‘Banking Sector Outlook Survey’ REFORMS 8 BSP reactivates Currency Rate Risk Protection Program 9 President orders ease of importation of agricultural products 11 Government set to implement rice tariication 14 Government shis to cash-based budgeting 16 Peso-Renminbi trading facility launched 18 President Duterte signs Executive Order No. 65 20 TRABAHO bill seen to attract more job-creating investments, level tax playing field CREDIT RATINGS 23 Korean debt watcher keeps Philippines’ ‘BBB’ rating 25 Fitch airms Philippines’ ‘BBB’ rating INVESTOR RELATIONS 27 Philippines highlights bright economic prospects before Hong Kong, US investors 29 Top Philippine economic oicials discuss economic growth with international investors at IMF-WB meetings 31 Economic Briefing in London 33 Government caps Sulong Pilipinas 2018 37 Philippine economic, infra managers hail golden age of infra BUILD, BUILD, BUILD 39 Government preps for Philippines’ longest railway system 41 Philippines’ first smart city rising in Clark 43 World-class Mactan-Cebu Int’l Airport to boost Philippines’ air connectivity, tourism WHAT THEY SAY ABOUT THE PHILIPPINE ECONOMY 46 First Metro: Philippine Economy to grow faster in 2019 47 ‘Philippines faces brighter prospects in 2019’ 48 About the Investor Relations Oice Q4 2018 ISSUE Think Growth. Think Philippines. | Philippines keeps robust growth in 2018 Growth follows surge in public, private investments THE PHILIPPINE economy maintained robust “This is a firm finish that cements the Philippines’ growth in 2018, as the surge in government standing as one of the fastest-growing economies spending on infrastructure and social services was in Asia,” Socioeconomic Planning Secretary matched by a sustained rise in investments from Ernesto Pernia, Finance Secretary Carlos the private sector.
    [Show full text]