The Department of Trade and Industry emphasized the issuance of a suggested retail price bulletin for basic goods is authorized by law, amid questions being raised on its legal basis.
MANUFACTURING SUMMIT. Outgoing Trade Secretary Ramon Lopez delivers his speech during the 7th Manufacturing Summit at Makati Diamond Residences in Makati City on June 21, 2022. The DTI chief wants refinement in the government procurement law that will favor local manufacturers in certain procurement projects. (PNA photo by Kris Crismundo) MANILA - Department of Trade and Industry (DTI) Secretary Ramon Lopez is proposing to the next administration to tweak Republic Act 9184, or the Government Procurement Reform Act, to adopt some provisions that will favor local manufacturers in government bidding. During the 7th Manufacturing Summit in Makati City Tuesday, Lopez said the next administration can refine the "lowest bid" rule in RA 9184 which will open the opportunity for local companies to supply goods and services to the government. The "lowest bid" rule in the government procurement law could be a disadvantage to domestic industries because imported products, especi
File photo MANILA - Department of Trade and Industry (DTI) Secretary Ramon Lopez said the Duterte administration has created a vibrant business environment in the last six years that helped in attracting investments in the manufacturing sector. During the 7th Manufacturing Summit in Makati City Tuesday, Lopez said a total of PHP1.1 trillion investments were approved in the manufacturing sector between 2016 and 2022. Some USD4.3 billion worth of foreign direct investments (FDIs) in the manufacturing sector also entered the country in the same period. Lopez added that employment in the sector stood at 3.66 million in April 2022, which is higher than the pre-pandemic level of 3.65 million employees in 2019. This also reflected that the job losses during the pandemic were recovered. In 2020, employment in manufacturing reached 3.19 million. With the further reopening of the economy, manufacturing output is on the trajectory of hitting the pre-pandemic level of PHP3.6 trillion. Lopez said t
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DTI Secretary Ramon Lopez (file photo) MANILA - Department of Trade and Industry (DTI) Secretary Ramon Lopez said Monday the agency will turn over more than PHP500 billion worth of prospective investments to the next administration. Lopez told reporters that these investment leads could be realized in the next 18 months. "These are actual pledges already. (These are) in various stages of preparation (like) site identification, company registration, (and) IPA (investment promotion agency) application," he said in a Viber message. Lopez cited that these investment leads are from sectors of manufacturing, shipbuilding, agribusiness, digital infrastructure, renewable energy, information technology and business process management, and logistics. He added that the main drivers for companies in investing in the country include the robust post-pandemic recovery and growth, market size, and young and competent workforce. The economic reforms of the Duterte administration, particularly