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The Manila Times (March 12, 2018)

D&L Industries, Inc., a producer of food ingredients, plastics and chemicals, is looking to expand its capacity in the next seven years in a bid to become 50 percent export sales-driven by 2025.

“We will expand by 2021 at the earliest because we’ll need time to plan… and then after construction, there is still the set-up time and [the]debugging [required],” D&L President Alvin Lao told reporters on the sidelines of a news conference last week.

The Philippine Star (February 18, 2018)

MANILA, Philippines — Beijing-based Industrial and Commercial Bank of China (ICBC), the world’s largest bank in terms of assets with $3.47 trillion, is setting up shop in the Philippines after a failed entry almost 10 years ago. 

A source said the Bangko Sentral ng Pilipinas (BSP) has approved the application of ICBC to put up a branch in the country. It first visited the Philippines in 2008 to scout for a local partner. 

The Philippine Star (February 05, 2018)

MANILA, Philippines — The tandem of Megawide Construction Corp. and GMR Infrastructure Ltd. of India has signed the engineering, procurement and construction (EPC) contract for the expansion of the Clark International Airport.

TheInternational Finance Corp. (IFC), the sister organization of the World Bank that is focused on the private sector, said the EPC contract was signed by the Megawide-GMR consortium and the Bases Conversion and Development Authority (BCDA) last Feb.1.

Philippine Daily Inquirer (February 12, 2018)

Tax takings of the Bureau of Internal Revenue (BIR) rose at a faster pace in January on the back of higher excise taxes on a number of goods under the first tax reform package, but the government is bracing for a surge in cigarette smuggling amid higher prices.

BIR Commissioner Caesar R. Dulay told reporters last Friday that the January collections of the country’s biggest tax agency grew 15 percent from P147.4 billion in January 2017.

Philippine Daily Inquirer (February 05, 2018)

Filipino scientists and entrepreneurs may now find it easier to live and work in China as its government unveils a new visa program for “high-end foreign talents.”

In an advisory, the Philippine Overseas Employment Administration (POEA) said that under the new visa program, the China R visa or China talents visa was being issued to individuals considered high-end foreign talents like scientists, international entrepreneurs and leading figures in technology-intensive sectors.

The Manila Times (February 06, 2018)

THE Department of Finance (DoF) has tapped 65 of the 76 Philippine regulatory agencies that are required to go online for the National Single Window (NSW) to streamline applications for import and export permits and ultimately help improve ease in doing business in the country.

This comes as Finance Undersecretary Gil Beltran reported that initial tests on the country’s interconnection with other Southeasia Asian economies, starting with Indonesia, through the Association of Southeast Asian Nations (Asean) Single Window (ASW), were successful, with “development and testing to continue in the next few weeks.”