BIZ FORUM. Trade Secretary Ramon Lopez meets with American business executives during the Philippine Trade and Investment Forum in Washington D.C. on Wednesday (April 20, 2022). Lopez assured American investors that the business climate would remain stable despite the change in administration by June this year. (Photo courtesy of DTI) MANILA - Department of Trade and Industry (DTI) Secretary Ramon Lopez has assured American businesses that the economic policy in the Philippines will remain stable despite the change in administration by June 30. In a statement Tuesday, DTI said Lopez met with American investors during the Philippine Trade and Investment Forum in Washington D.C. last week, where he presented business opportunities in the Philippines for United States-based enterprises. Lopez said the Duterte administration passed key legislations that would cement a stable business environment, especially for foreign investors eyeing to set up their operations here. These include amendme
DTI Secretary Ramon Lopez (File photo) MANILA - Department of Trade and Industry (DTI) Secretary Ramon Lopez has discussed with executives from United States-based battery technology firm and independent tower company (ITC) regarding their investment plans in the country. In a statement Monday, Lopez said DTI officials, along with Defense Secretary Delfin Lorenzana, met with ZAF Energy Systems and Battery Grade Materials, Inc. (BGM) during a high-level diplomatic reception for government officials and business leaders in Washington D.C. last week. Lopez told ZAF chief executive officer Randy Moore that the planned investment of the firm and its affiliate company, BGM, could qualify for Tier II under the industrial value chain gaps of the proposed 2022 Strategic Investment Priority Plan (SIPP). ZAF-BGM eyes nickel hydroxide processing plant and battery manufacturing projects that can serve the demand for electric vehicles, as well as other applications for commercial and defense-related
Trade Secretary Ramon Lopez (File photo) MANILA - The Department of Trade and Industry (DTI) is now encouraging more on-site work and lessened work-from-home setup as the country now moves to the new normal. Speaking with President Rodrigo Duterte during the Talk to the People Monday evening, DTI Secretary Ramon Lopez said urging employees to physically report in their workplaces will stimulate economic activities. "We will encourage more on-site presence. Before, we encouraged work-from-home. This time, it's physical presence. This means many will go back to their offices, there will be resumption of many events that will stimulate spending. With the increased mobility, people are spending when they go to their workplaces and going back home," he said. Lopez said small and medium enterprises (SMEs) and the transport sector will greatly benefit from the increased mobility now that Metro Manila and key provinces were de-escalated to Alert Level 1. He added that work-from-h
File photo MANILA - Reforms pushing for economic liberalization will help the country to get back to pre-pandemic level, Department of Trade and Industry (DTI) Secretary Ramon Lopez said Monday. During the webinar of Chinese Filipino Business Club Inc. (CFBCI), Lopez highlighted the importance of the country's ratification of the Regional Comprehensive Economic Partnership (RCEP), the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law, enactment of the Retail Trade Liberalization law, and supporting legislative reforms such as the amendments to the Foreign Investments Act and the Public Service Act. He said these reforms and the current situation of allowing businesses to remain open despite the spike in coronavirus disease 2019 (Covid-19) cases due to Omicron variant will help the country to grow at 6 to 7 percent this year, which was the country's economic growth before the Covid-19 struck. Lopez cited that foreign direct investments (FDI) hit USD8.1 billion i
(File photo) MANILA - Department of Trade and Industry (DTI) Secretary Ramon Lopez said supplies of paracetamol and other flu medicines at drugstores will start to normalize this weekend. Speaking to President Rodrigo Duterte during the Talk to the People Thursday evening, Lopez said manufacturers of these medicines have started to deliver to drug stores since Wednesday. He added that due to the surge in demand for paracetamol and flu drugs after New Year, pharmacies have ordered three times more of their normal orders of these medicines. "Their (drug stores) reported to us that they ordered three times more of their usual ordering level in anticipation of larger demand and preparation for the spike in cases from Omicron," he said. He said there is no shortage in supplies of paracetamol and other flu medicines and that manufacturers have a large production capacity of these products. The trade chief reported that at least four paracetamol brands with local production can prod