The Philippine government has retained the incentives granted for 13 key industries under the newly approved 2013 Investment Priorities Plan, according to a Malacañang memorandum published in newspapers Wednesday.
By coming to the World Economic Forum for the first time, President Aquino is seeking more investors and tourists to come to the Philippines in order to create more jobs and sustain the country’s economic momentum beyond his term as chief of state.
PRESIDENT Aquino has approved P32.3 billion in additional spending this year, including the infusion of P20 billion in much-delayed equity into the Bangko Sentral ng Pilipinas, Budget Secretary Florencio B. Abad said. This leaves Malacañang a balance of P10 billion to complete its P50-billion capital infusion into the central bank. “A stronger and more [...]
After hours of meeting, President Benigno Aquino III and his Cabinet approved, on Thursday night, 11 infrastructure projects worth more than P100 billion, including a key project connecting the North Luzon Expressway with the Southern Luzon Expressway and the Cavite-Laguna Expressway.
Malacañang blamed local government units for the two-notch drop in the country’s global ranking in the ease of doing business, but doubted this would deter investors.
Philippine miners see no relief from the latest revisions proposed by Malacañang on the implementing guidelines of a much-debated national mining policy and they thus keep the option to challenge the framework in court.
![The government has set aside P30 billion from this year’s national budget as contingency fund for the Public-Private Partnership program. “This [P30 billion] will cover commitments made and obligations of the national government in the concession agreements for PPP projects,” Budget Secretary Florencio Abad (in photo) was quoted as saying in a report on the 2014 national budget published by Global Source. INQUIRER FILE PHOTO](http://business.inquirer.net/files/2012/03/Florencio-abad-90x65.jpg "Florencio-abad")
Malacañang is pushing for a 44-percent hike in the allocation for state colleges and universities in 2013 in an effort to boost tertiary education in the country, according to Budget Secretary Florencio B. Abad.
President Aquino has ordered the Department of Agriculture to help small players in the banana industry in exporting their produce after China blocked the entry of Philippine banana shipments for allegedly failing quarantine tests.
The government released P4.1 billion in subsidies to state-owned and -controlled corporations in March, the bulk of which went to entities engaged in health, housing, livelihood and farming.
Malacañang admitted on Tuesday the continued existence of factors—high cost of electricity and insufficient loans for small businesses among them—that the World Bank recently said were preventing poor Filipinos from benefiting from the country’s economic growth.
Malacañang has certified as urgent a bill seeking to put more teeth to the country’s existing Anti-Money Laundering Act (AMLA) as regulators called for tougher measures against the crime.
Malacañang on Saturday said the government can afford to give another fuel subsidy to the public transport sector which is reeling from the new round of oil price increases.
