Department of Trade and Industry (DTI) – Page 3

Japanese leisure services firm to invest P2.5 billion in the Philippines

March 19, 2025March 11, 2025carlocarrasco

Koshidaka Holdings, a leisure services firm based in Japan, will be investing P2.5 billion in the Philippines and plans to launch its first store this year, according to a Philippine News Agency (PNA) news article. This development is related with the Department of Trade and Industry’s (DTI) recent meetings with corporations in Japan. Kodaka Holdings has more than six hundred outlets in Japan and the Philippines is a key part of its planned expansion in Southeast Asia.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

Japanese leisure services firm Koshidaka Holdings Co. Ltd. will be investing PHP2.5 billion in the country, with its first store set to open this year, Department of Trade and Industry (DTI) Secretary Ma. Cristina Roque said.

In a virtual briefing Tuesday, Roque said Koshidaka is aggressive on its plans to expand in the country to bring its karaoke business and onsen-style (hot spring) spas as well as opening women’s fitness studios in Philippine malls.

The Japanese firm is scouting for 30 locations to establish its business here before growing to 100 sites nationwide.

Koshidaka is one of the 13 firms and business organizations that Roque met during her recent visit in Tokyo as a follow-through of the agency’s investment missions in Japan.

These firms include Nidec Corp., Ibiden Co., Ltd., Etoile Kaito & Co., Inc, Adastria Co., Ltd., Sumitomo, Fujifilm Holdings Corp., Chodai Co., Ltd. Taiheiyo Cement Corp., Fast Retailing, JR East, and Koshidaka Holdings Co., Ltd as well Keizai Doyukai and Keidanren.

“We also check on their plans, what their plans are in our country for expansion and also for growth,” Roque said.

Earlier, Koshidaka announced that it would establish a Philippine subsidiary to offer a new style of karaoke entertainment.

Koshidaka said its expansion in the Philippines is a key initiative in its Southeast Asia growth strategy, with the country’s large market and economic development.

“Aside from the entertainment, they also want to open a gym that’s really just focused on women all over the country, and they also want to focus on creating Japanese onsen in the malls or in different areas that are of interest to them,” Roque said.

“So they’re actually coming first quarter this year to really explore the different locations where they can open.”

Let me end this post by asking you readers: What is your reaction to this recent development? Do you find Koshidaka Holdings’ karaoke and onsen-style spas interesting? Have you tried any of Koshidaka Holdings’ businesses in Japan before?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

New investments worth P23.5 billion from Japanese companies pledged in connection with CREATE MORE

March 10, 2025March 6, 2025carlocarrasco

With the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act already in effect, more than P23 billion in new investments was pledged by Japanese companies in connection with it, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the news article of the PNA. Some parts in boldface…

Department of Trade and Industry (DTI) Secretary Ma. Cristina Roque said Wednesday the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) law has attracted Japanese companies to invest in the country.

Roque and Special Assistant to the President for Economic Affairs and Investments Secretary Frederick Go visited Japan from March 3 to 4 to meet Japanese companies and business groups.

The DTI said during the visit, four companies pledged PHP23.5 billion worth of investments.

“Representing both the government and private sectors, those we engaged with expressed excitement and enthusiasm about collaborating with us, inspired by the positive developments they’ve heard about our country—our robust economic fundamentals and reformed policies and regulations,” Roque said.

“Specifically, what caught their attention was the recently enacted CREATE MORE law, which offers enhanced tax incentives, simplified processes, and greater opportunities for businesses to thrive in the Philippines,” she added.

Among Japanese companies that the Philippine government officials met include Ibiden Co., Ltd., Nidec Corp. and Sumitomo Corp.

The Philippine Trade and Investment Center (PTIC)-Tokyo told the Philippine News Agency that two of these companies are eyeing fresh investments in the country, while one of them is updating its three-year investment pledge.

DTI said Ibiden expressed its prospect for expanding its advanced substrate technologies operations, while Nidec eyes to expand its manufacturing footprint here.

On the other hand, Sumitomo renewed its commitment to collaborate with the Marcos administration’s infrastructure and clean energy goals.

Sumitomo’s project in the Philippines include the Metro Manila Subway Project, the MRT Line 3 maintenance contract, and the First Philippine Industrial Park.

Roque also had meetings with Fast Retailing Co. Ltd., the firm behind clothing brand Uniqlo, as well as the Japan Association of Corporate Executives (Keizai Doyukai) and the Japan Business Federation (Keidanren).

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the new investments pledged by Japanese companies in connection with CREATE MORE will influence many other foreign companies to invest in the Philippines this year?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

More investors expected in relation to newly signed CREATE MORE IRR

February 28, 2025February 26, 2025carlocarrasco

In connection with the recent signing of the implementing rules and regulations (IRR) of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act, a director of the Philippine Economic Zone Authority (PEZA) expects more investors to come in, according to a news article by the Philippine News Agency (PNA).

To put things in perspective, posted below is an excerpt from the news article of the PNA. Some parts in boldface…

Philippine Economic Zone Authority (PEZA) Director General Tereso Panga is expecting more investors to put up their businesses in economic zones across the country following the signing of the implementing rules and regulations (IRR) of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act.

Panga said the IRR provides clarity for the smooth implementation of the law.

“It is a product of conjoined efforts that will surely attract more interest in the Philippines and paves the way for future investment growth,” Panga said in a statement Wednesday.

On Feb. 17, Finance Secretary Ralph Recto and Trade Secretary Ma. Cristina Roque led the signing of the CREATE MORE’s IRR.

The IRR supports PEZA’s mandate of driving investment growth into the country, promote sustainable development in the countryside, and create more jobs.

“The CREATE MORE Act refines the investment landscape of the Philippines to be at parity with other countries,” he said.

“With these new policies in place, coupled with the positive attributes already presented by our country and the various advantages like a communications-ready skilled workforce, a conducive business environment and a whole-of-government approach, it is without doubt that new investors will come in and old investors will choose to stay for the long haul,” he added.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the newly signed IRR of CREATE MORE will result in more investors to come into the Philippines and put up businesses in economic zones?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

DTI exceeds 2024 investment approval target

December 30, 2024December 20, 2024carlocarrasco

More than P1.6 trillion in approved investments have been confirmed and this means that the Department of Trade and Industry (DTI) exceeded its target for 2024, according to a news article by the Philippine News Agency (PNA).

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

The Department of Trade and Industry (DTI) said approved investments already surpassed the 2024 target.

In a statement on Thursday, DTI said investments approved by the Board of Investments (BOI) amounted to PHP1.62 trillion, surpassing the PHP1.5 trillion target. It was also higher than the PHP1.26 trillion approved investments in 2023.

In a separate statement, the BOI said energy sector, specifically the renewable energy projects, recorded the biggest surge in approvals, totaling PHP1.38 trillion, up by 40 percent year-on-year.

Other sectors which recorded the biggest increase include air and water transport at PHP121.20 billion; real estate activities (mass housing) at PHP37.26 billion; manufacturing at PHP31.67 billion; water supply, sewerage, waste management, and remediation activities at PHP16.28 billion; agriculture, forestry, and fishing at PHP11.02 billion; wholesale and retail at PHP8.25 billion; and information technology-business process management at PHP7.34 billion.

The Philippine Economic Zone Authority (PEZA), meanwhile, approved PHP214.17 billion in investments, surpassing the PHP200 billion target for the year.

“We are pleased to report significant progress in attracting investments this year. These investments will fuel job creation, drive innovation, and foster dynamic economic progress. By focusing on international trade, we are laying the foundation for sustainable and inclusive economic growth,” Trade Secretary Cristina Roque said.

“As we approach 2025, we are determined to build on this positive momentum. We will continue to refine and implement forward-looking policies that attract investments in these key industries, ensuring that the Philippines remains a prime destination for innovation and growth.”

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the P1.62 trillion in approved investments will have a big effect on the national economy in 2025?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

DTI executive says Philippines is unlikely to be hit by Trump’s planned tariff hikes

December 13, 2024December 3, 2024carlocarrasco

Based on available details and key factors, an executive of the Department of Trade and Industry (DTI) stated that the Philippines is unlikely to be hit by the planned tariff hikes of the returning United States President Donald Trump whose administration will formally start on January 20, 2025, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

Department of Trade and Industry (DTI) Undersecretary Ceferino Rodolfo said Monday that the Philippines is unlikely to be targeted by the planned tariff hikes under the incoming administration of United States President-elect Donald Trump, citing the balanced and healthy trade relationship between the two countries.

Rodolfo noted that the Philippines’ trade deficit with the US stood at USD4 billion in 2023, far smaller than the deficits the US faces with other Asian countries, including China (USD300 billion), Vietnam (USD109 billion), Japan (USD75 billion), South Korea (USD55 billion), India (USD47 billion), and Thailand (USD43 billion).

“We believe that countries with which the US has a huge trade deficit—particularly those which worsened during the past four years—will be likely targets of additional US tariffs,” he said.

He added that this puts the Philippines in a strong position as the US looks to address trade imbalances.

“With the Trump administration’s focus on reducing trade deficit, the Philippines can leverage the balanced and healthy Philippines-US trade, indicating a mutually beneficial trade relationship,” the DTI official added.

Strengthening ties – Rodolfo said DTI Secretary Cristina Roque and Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go are working closely with the US government to ensure “even closer economic relations” with the long-time ally in preparation for Trump’s assumption into office.

He also pointed out that Trump’s pick for Department of State Secretary, Senator Marco Rubio, has been a strong proponent of closer economic and strategic ties between the US and the Philippines.

Rubio filed Senate Bill 4703, or the Philippines-US Strategic Partnership Act, which aims to enhance economic relations between the two countries.

The bill, filed on July 11, 2024, proposes to negotiate a critical minerals agreement with the Philippines; to prioritize support from the US International Development Finance Corporation for projects involving critical minerals and fossil fuels in the Philippines; and to identify additional US agencies that could invest in the Philippines, including the Department of Defense’s Office of Strategic Capital.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Philippines won’t be hit by Trump’s planned tariff hikes? Are you hoping that under a Trump presidency, the Philippines and America will be able to have a free trade agreement?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

DTI reminds businesses that permits should first be secured for marketing stunts

April 26, 2024April 12, 2024carlocarrasco

In light of an April Fool’s Day promo that convinced a person to really take the challenge physically, the Department of Trade and Industry (DTI) reminded businesses that they should secure permits from them in order to do any marketing stunts, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

Following the recent online uproar over takoyaki store’s marketing stunt on April Fool’s Day, the Department of Trade and Industry (DTI) reminded businesses to secure permits from the agency first before conducting such activity.

In an interview with Bagong Pilipinas Ngayon on Thursday, DTI Assistant Secretary Amanda Nograles said a marketing stunt falls under the definition of sales promotion because its purpose is to increase customers and sales, as well as to promote the brand.

“Under the regulations, DTI has the authority over that. They have to secure a permit (for sales promotion),” Nograles said in mixed English and Filipino.

To recall, takoyaki store “Taragis” posted on Facebook on April Fool’s Day a dare to tattoo Taragis’ logo on one’s forehead, and whoever will do it will receive a PHP100,000 prize.

A person commented on a photo of him with the store’s logo on his forehead and asking the business owner, Carl Quion, where to claim his prize.

Taragis’ Facebook page made another post that the establishment does not have any responsibility on what happened because the post had a disclaimer.

The event caused uproar online, and on April 6, the business owner admitted that it was all a marketing stunt and the person who tattooed the business logo on his forehead was an accomplice.

“The establishment admitted that it’s a marketing gimmick to lure (customers), promote the establishment, (so) it appears to be promotional in that sense,” Nograles said.

“If they don’t have the promo permit from DTI, they can be held responsible for the violation of conducting (the) promotion without securing first the sales of promo permit,” she added.

Nograles said the DTI has a team monitoring establishments on their conduct of sales promotion both onsite and online.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think that all businesses here in the Philippines that intend to organize marketing stunts should contact the DTI first before executing such moves? Do you think that more Filipinos should understand that April Fool’s Day itself always comes with clever forms of deception and temptation?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

Philippine exports of goods and services surpassed $100 billion in 2023

April 11, 2024April 2, 2024carlocarrasco

For the year 2023, Philippine exports of good and services reached over $100 billion based on the balance of payments (BOP) from the Bangko Sentral ng Pilipinas (BSP), according to a Philippine News Agency (PNA). By comparison, less than $100 billion was achieved in 2022.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

Despite global trade challenges, Philippine exports surpassed the USD100-billion mark in 2023, an all-time high revenue for the country’s outbound trade.

The Department of Trade and Industry (DTI) said in a statement Monday that based on the balance of payments (BOP) from the Bangko Sentral ng Pilipinas (BSP), exports of goods and services reached USD103.6 billion. This is higher by 4.8 percent from the total exports of USD98.8 billion in 2022.

DTI Secretary Alfredo Pascual said this is the first time the Philippines breached the USD100-billion mark in export revenues.

Pascual said the strong exports last year was driven by services, especially the information technology and business process management (ITBPM) and tourism services.

Services exports rose 17.4 percent in 2023 to USD48.29 billion from USD41.12 billion in 2022.

According to the Information Technology and Business Process Association of the Philippines, ITBPM revenues last year stood at USD35.5 billion, while government data showed that travel services reached USD9.1 billion last year.

On the other hand, exports of goods last year declined by 4.1 percent to USD55.32 billion from USD57.71 billion in 2022.

The country’s top goods export alone, electronics, decreased by 3.4 percent or USD955 million in 2023 compared to its previous year.

“This decline highlights the importance of diversifying export portfolios and enhancing competitiveness in key sectors,” the DTI said.

“The path to global excellence and export growth requires shared ambition, where the government and the private sector must intensify and sustain collaborations. Our guideline is the Philippine Export Development Plan (PEDP) 2023-2028, which aims to address constraints to production, diversify and improve access to markets, and develop a strong and innovative export ecosystem,” Pascual said.

However, export revenues last year were USD23.2 billion away from the PEDP target of USD126.8 billion for 2023.

“We recognize the ongoing challenges in both the domestic and global trading environments and hope to address the binding constraints to Philippine export competitiveness as we continue to implement the PEDP for 2023 to 2028,” the DTI chief added.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the Philippines can achieve at least $100 billion worth of export revenue this year?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

DTI lauds signing of Tatak Pinoy law (Republic Act Number 11982)

March 5, 2024February 28, 2024carlocarrasco

In relation to the recent signing of Republic Act Number 11982 (RA11982 or Tatak Pinoy law) into law by Philippine President Ferdinand “Bongbong” Marcos, Jr., the Department of Trade and Industry (DTI) lauded the signing stressing that it will empower the nation’s industrialization, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the PNA article. Some parts in boldface…

Department of Trade and Industry (DTI) Secretary Alfredo Pascual reaffirmed the department’s commitment to boost its science, technology and innovation-driven industrialization agenda with the enactment of Republic Act (RA) 11982 or the Tatak Pinoy Act on Monday.

In line with President Ferdinand R. Marcos Jr.’s priorities in the Philippine Development Plan (PDP) 2023-2028, the newly passed legislation will empower Philippine industries to manufacture a broader range of higher quality and sophisticated products, elevate the country’s position in the global value chain, and enhance productivity and competitiveness in the global market.

The Tatak Pinoy Law lies at the core of the nation’s industrialization strategy, revitalizing and driving the economic agenda with precision. With its focus on promoting industrial excellence, embracing innovation and navigating contemporary challenges, Tatak Pinoy is a transformative legislation that empowers Philippine industries to thrive in an intensely competitive global landscape.

Under the law, a Tatak Pinoy Council will spearhead the development and implementation of a multi-year strategy focusing on five key pillars: human resources, infrastructure, technology and innovation, investments, and sound financial management.

“We are confident that this legislation will bolster our ongoing programs, propelling industries towards greater global recognition and success. It underscores our commitment to implement measures that enhance the competitiveness of our local industries, ensuring that the world gets to experience what the Philippines has to offer,” Pascual said in a news release.

The Atlas of Economic Complexity, which measures the level of sophistication of export products being produced by countries globally, ranks the Philippines as 33rd among 133 countries, with an overall economic complexity index of 0.76.

This is driven by the country’s exports of high to moderate complex products such as electronics and integrated circuits, electrical machinery and equipment, as well as information and communications technology (ICT) services.

The country ranks 4th in Southeast Asia, trailing behind Singapore (5th), Thailand (23rd), and Malaysia (28th), and above Vietnam (61st) and Indonesia (64th).

“The Tatak Pinoy Law is a significant milestone that will enable our industries to climb up the economic complexity ladder, making the Philippines a more formidable player in the global market. Tatak Pinoy will enable our industries to embrace new technologies and effectively overcome the challenges of the modern world,” DTI Undersecretary Rafaelita Aldaba said.

With the implementation of the Tatak Pinoy Law, the DTI aims to elevate the country’s ranking by supporting and promoting the production of more sophisticated and high-quality products.

Tatak Pinoy will build on the existing flagship initiatives of the DTI, such as the One Town, One Product (OTOP) and Malikhaing Pinoy Program, which cultivate and promote unique products and empower local entrepreneurs and innovators to elevate the quality and marketability of locally made products.

Tatak Pinoy is poised to revolutionize industries, particularly Philippine manufacturing, amidst the entry of Fourth Industrial Revolution technologies. It will amplify DTI’s efforts in building an Industry 4.0 Pilot Factory, establishing a Center for Artificial Intelligence Research (CAIR), and supporting the country’s Regional Inclusive Innovation Centers (RIICs).

The new law will also drive innovation and facilitate Industry 4.0 adoption, especially among micro, small and medium-sized enterprises (MSMEs).

Pascual said a critical provision of the law is the mandate for the Philippine government to prioritize Filipino products and services in government procurement, strengthening collaboration between the public and private sectors.

“This initiative serves as a catalyst for creating a robust market environment, particularly beneficial for SMEs and startups,” he said.

Let me end this piece by asking you readers: What is your reaction about this recent development? Do you think the new Tatak Pinoy law will improve the nation’s industrialization in the years ahead? Do you think it will lead to even more new jobs in the future?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

DTI intensifies scrutiny of online sellers who engaged with offering mystery boxes to customers

February 16, 2024February 8, 2024carlocarrasco

If you are fond of ordering items online, better stay away from those mystery boxes offered to you because the Department of Trade and Industry (DTI) is closely watching online sellers offering those things, according to a Philippine News Agency (PNA) news report.

To put things in perspective, posted below is an excerpt from the PNA article. Some parts in boldface…

The Department of Trade and Industry (DTI) has intensified its scrutiny of online sellers, particularly those offering mystery boxes or parcels, to ensure consumer protection and uphold fair trade practices.

In an interview with Bagong Pilipinas Ngayon Wednesday, DTI Assistant Secretary Amanda Nograles said all online shops selling mystery items are subject to stringent verification procedures requiring them to provide evidence regarding the sourcing of the items they offer on their platforms.

Nograles said sellers must substantiate the items’ origin, demonstrating that they have acquired them through legal means. This could include proof of purchase from valid auctions or confirmation that the items were legally obtained from sources such as the Bureau of Customs (BOC) or through legitimate means like through abandoned parcels or “balikbayan” boxes.

“Kailangan iyong online seller ay makapagbigay ng ganoong ebidensiya; ngayon kung hindi, puwede natin siyang ipa-takedown doon sa platform – we have a good relationship with most online shopping platforms and kapag ni-request po ng DTI, napapakiusapan po natin na tini-takedown iyong mga seller na ganito at nang hindi po makabiktima ng mga consumers natin (The online seller needs to provide such evidence; now if not, we can have them taken down from the platform – we have a good relationship with most online shopping platforms, and when requested by the DTI, we ask them to have such sellers taken down so that they cannot victimize consumers),” she said.

Nograles said the DTI is regularly monitoring online stores.

Some items inside mystery boxes or parcels are illegally sourced, such as stolen products from warehouses, which is against the Anti-Fencing Law, the DTI official said.

The Anti-Fencing Law prohibits the selling of stolen goods or items obtained through illicit means. Both sellers and buyers can be charged if these items were stolen.

The DTI’s move to tighten regulations on online sellers aims to safeguard consumers from potentially fraudulent or unsafe products while also promoting transparency and accountability within the e-commerce sector, Nograles said.

Let me end this piece by asking you readers: What is your reaction to this recent report? Are you concerned that mystery boxes are harmful to consumers who are often looking for the best deals online? Do you think that items placed inside mystery boxes may have been stolen or smuggled? How many times have you availed of mystery boxes offers online?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

DTI says cash aid and price monitoring related to rice to continue

October 9, 2023October 5, 2023carlocarrasco

Recently President Ferdinand “Bongbong” Marcos, Jr., lifted the mandatory price caps on rice (regular milled and well-milled specifically). Even though this has happened, the Department of Trade and Industry (DTI) confirmed that cash aid and price monitoring will still continue, according to a news article by the Philippine News Agency (PNA).

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

Financial aid distribution to rice retailers and monitoring of rice prices will continue despite President Ferdinand R. Marcos Jr.’s announcement Wednesday about the lifting of the price cap on regular and well-milled rice.

Trade and Industry Secretary Alfredo Pascual, in a press conference in Makati City Wednesday, said the government will still release the financial aid to small retailers selling the said rice varieties who have not received the PHP15,000 cash assistance.

As of Sept. 29, the government, through the Department of Social Welfare and Development (DSWD), has released a total of PHP217.2 million under the Sustainable Livelihood Program-Economic Relief Subsidy to 14,480 out of the 19,685 targeted rice retailers nationwide.

DTI has helped the DSWD in identifying, profiling, and validating the beneficiaries of the cash aid.

Since Executive Order 39, which set price ceilings of PHP41 per kilo for regular-milled rice and PHP45 a kilo for well-milled rice, took effect last September 5, the Trade Chief said the compliance rate of retailers nationwide was high at 81.46 percent as of Sept.28.

“There’s (a) good number of sellers selling within those price(s),” Pascual said, adding that prices of these rice varieties in Regions 2 (Cagayan Valley) and 3 (Central Luzon), the country’s rice granary, are even lower at around PHP38 per kilo.

He noted that since rice is being produced in these regions, logistics costs are much lower.

Fair Trade and Enforcement Bureau (FTEB) Director Fhillip Sawali, during the same briefing, also assured that DTI will continue monitoring rice prices, in coordination with the Department of Agriculture, despite the lifting of the price cap on rice.

“We will see the full force of the market because the PHP41 and PHP45 (price caps) are no longer mandated,” he said.

“There is a continuing role for the DTI to play post-EO 39” since there is a need to “see if they (rice traders) continue to follow or nearing their prices at PHP41 and PHP45,” he added.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think there will be drastic changes happening with the prices of rice grain sold in markets here in the Philippines? How much did you spend on rice grain in recent times?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

	Instapundit »… on Japan Joins America’s Genesis…
	Jonathan Silber on Japan Approves Bills To Raise…
	Instapundit »… on Japan Approves Bills To Raise…
	Dennis P. on America Plans Transfer Of Coas…
	Instapundit »… on America Plans Transfer Of Coas…

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this:

Share this: