MANILA - The National Economic and Development Authority (NEDA) welcomes the issuance of Executive Order (EO) No. 175 promulgating the 12th Regular Foreign Investment Negative List (RFINL). On Monday, President Rodrigo R. Duterte issued the 12th RFINL, which provides details on foreign ownership limitations for key areas or activities, through EO No. 175. "We welcome the issuance of the 12th RFINL. The revised list is aligned with the recently passed amendments to the Public Service Act (PSA), Retail Trade Liberalization Act (RTLA), and Foreign Investments Act (FIA). It is also consistent with the policy to ease restrictions on foreign participation," Socioeconomic Planning Secretary Karl Kendrick Chua said in a statement Tuesday. The 12th RFINL reflects the full foreign ownership liberalization for telecommunications, domestic shipping, railways and subways, and air transport as provided under the amendments to the PSA. The revised list incorporates the amendments to the RTL
As motorists cry over continued fuel price hikes, Filipino farmers face the same predicament. Oil companies on Monday announced that they would implement
Socioeconomic Planning Secretary Karl Kendrick Chua (File photo) MANILA - Climate change adaptation and mitigation need to be placed at the heart of socioeconomic planning for the country to achieve its 2040 vision of eradicating extreme poverty, the National Economic and Development Authority (NEDA) said Tuesday. "Addressing the triple planetary crisis (of climate change, biodiversity loss, and pollution) has become our top development challenge. If we are to eradicate extreme poverty in the Philippines by 2040 and hand down a better planet to our children and grandchildren, climate change adaptation and mitigation need to be placed at the heart of socioeconomic planning," Socioeconomic Planning Secretary Karl Kendrick Chua said at the Philippine Environment Science Summit 2022. Chua said urgent actions are needed to curb greenhouse gas emissions to achieve the goals of the Paris Agreement of limiting global warming to 1.5 degrees Celsius in response to climate change. The h
MANILA - The National Economic and Development Authority (NEDA) has highlighted the issuance of Executive Order (EO) No. 171 and the government's fuel subsidy program in helping ease the impact of global inflationary pressures. The Philippine Statistics Authority (PSA) on Tuesday reported that headline inflation increased to 5.4 percent in May 2022 from 4.9 percent in the previous month. The inflation rate is within the Bangko Sentral ng Pilipinas' (BSP) forecast range of 5.0 to 5.8 percent for the month. Year-to-date inflation settled at 4.1 percent, slightly above the BSP's target range of 2.0 to 4.0 percent for 2022. "The Russia-Ukraine conflict has disrupted the global supply chain and elevated commodity prices, particularly for fuel. We have seen how a single crisis can set us back, so the Duterte administration has pursued both short- and long-term interventions to increase the resilience of our domestic economy against external shocks," Socioeconomic Planni