The Philippines posted average economic growth of 6.4% over 2010-19. While the Covid-19 pandemic tested the country’s resilience during 2020, the response measures contained within the two national stimulus packages, Bayanihan 1 and 2, provided support to vulnerable industries. Meanwhile, the rollout of the imminent Corporate Recovery and Tax Incentives for Enterprises bill is expected to create
Industry has made a sustained contribution to the Philippines’ economy in recent years, accounting for roughly 30% of GDP between 2017 and 2019, with sector growth driven predominately by manufacturing. Expansion was constrained in 2020 as Covid-19 response measures impeded manufacturing activity and reduced the global demand for industrial products. Meanwhile, agriculture comprised 9-10% of GDP…
Interview:William Dar How can the government ensure food price stability and the availability of fresh produce in light of pandemic-related disruptions to supply chains? WILLIAM DAR: After the onset of the Covid-19 pandemic, we intensified efforts to enhance the productivity of the agriculture, forestry and fisheries sector to ensure a continuous supply of healthy and inexpensive food. Production,…
Interview:Christopher Po Which vulnerabilities in local food supply chains were highlighted by the Covid-19 pandemic? CHRISTOPHER PO: The main challenges were fear, disruption to the flow of goods and capital, and the lack of public transport. Moving goods across regions was also difficult, and coordination with various local government units proved challenging due to differences in their interpretation…
Interview:Ramon M Lopez What will be the impact of amendments to the key laws regulating foreign investment, and how can they be further improved? RAMON M LOPEZ: The amendments to the Public Service Act, Foreign Investment Act and Retail Trade Liberalisation Act aim to create a more enabling policy environment for investment inflows into the country. The amendments were implemented with the…
Industry has made a sustained contribution to the Philippines’ economy in recent years, accounting for roughly 30% of GDP between 2017 and 2019. Sector growth was driven predominately by manufacturing, which comprised more than half of industrial output and 19% of GDP over the same period. Growth was constrained in 2020 as Covid-19 response measures impeded manufacturing activity and reduced…
In response to lockdowns initiated to stem the spread of Covid-19, fast-moving consumer goods (FMCG) manufacturers in the Philippines adopted new business strategies to overcome supply chain disruptions and meet shifting consumer demands. Indeed, the pandemic led FMCG companies to reassess input sources and re-evaluate the balance between efficiency and resilience. It is expected that these…
Although agricultural activities were permitted during the lockdown period in the Philippines, some farmers nevertheless saw their activities limited by various provincial restrictions. In Quezon province, for example, stricter measures were implemented in April 2020 that permitted residents in some areas to leave their homes only once per week – placing the harvest at risk of spoilage during…
With the outbreak of the novel coronavirus disrupting agricultural links to consumers, the Philippine government has sought to bolster food security by providing farmers with financial support and forming new localised supply chains. While these reforms have helped, a number of technological solutions also have the potential to strengthen the industry throughgreater access to finance. Although…
In February 2019 President Rodrigo Duterte ratified the Rice Tariffication Law, which was passed by the legislature in November 2018. The new law, which went into effect on March 5, lifts quantitative restrictions on rice imports and eliminates the role of the National Food Authority (NFA) regarding imports, thus allowing licensed private operators to ship in rice directly from abroad. In place…
