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President Duterte speaks before the Agrilink/ Foodlink/
Aqualink 2017 opening
ceremonies at the World Trade Center Metro Manila in Pasay City last October 5.
Mr Duterte’s chief economic manager Finance Secretary
Carlos Dominguez III said the Philippines has started its economic breakout, turning it into one of Asia’s engines of
growth despite the political noise and the recent terrorist attack in Marawi City. Also in
photo are Presidential Adviser for Entrepreneurship Joey
Concepcion, Senator Cynthia Villar, Special Assistant to the President Christopher
Lawrence Go, Agriculture Undersecretary Bernadette Puyat and Agrilink/ Foodlink/
Aqualink 2017 Chairman
Candelario Miculob.

Philippine economic breakout starts, DoF chief tells US

By Luis Leoncio The Philippines has started its economic breakout, turning it into one of Asia’s engines of growth despite the political noise and the recent terrorist attack in Marawi City, Finance Secretary Carlos Dominguez III told the American business community in a visit to New York City last week.

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Philippines to set pace for growth in Asean region, says IMF

By Riza Lozada The Philippines will remain a leader in economic growth this year in the Association of Southeast Asian Nations (Asean) region with an estimated gross domestic product (GDP) expansion of 6.6 percent against 5.2 percent in Indonesia; 5.4 percent in Malaysia; 3.7 percent in Thailand, and 6.3 percent in Vietnam, the International Monetary Fund (IMF) said.

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Pedestrians cross over the Pasig River in the City of Makati. The robust
economy gets strong support from transfers of Filipinos working overseas
estimated at $2 billion a month. (WORLD BANK PHOTO)

WB cites OFW support system as model for Asean countries

The country was cited for its support system for overseas workers as the World Bank said other Association of Southeast Asian Nations (Asean) members can learn from the country’s experience as it called on easing restrictions on labor migration to boost workers’ welfare and accelerate regional economic integration.

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The logos of the different foreign chambers of commerce making up the Join Foreign Chambers of the Philippines (JFC).
(Background photo: Jon Manosca via Flickr)

JFC urges status quo on PEZA VAT perks

By Riza Lozada The Joint Foreign Chambers of the Philippines (JFC) is seeking a status quo on the exemption of locators in Philippine Economic Zone Authority (PEZA) from the 12-percent value added tax (VAT).

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Employment in SMEs slowing, says ILO

The contribution of small and medium enterprises (SMEs) to total world employment has stagnated hurting the global goal to eradicate poverty, the recently released International Labor Organization (ILO) flagship report World Employment and Social Outlook showed.

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Mighty Corp. settlement to boost sin tax takes—DoF

The Department of Finance (DoF) estimates that government revenues will increase almost P40 billion from excise tax on tobacco products starting in 2018, following the move by Mighty Corp, to settle its tax liabilities and sell its assets to Japan Tobacco Inc. (JTI).

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BIR Commissioner Atty. Caesar Dulay (3rd from right, 1st row) and LANDBANK President and CEO Alex Buenaventura (4th from right, 1st row) recently led the launch of the BIR-LANDBANK ePayment Service in Quezon City, joined by senior officers both from BIR and LANDBANK.

LANDBANK Electronic Payment Service Now Open for Taxpayers

LANDBANK account holders can now pay their taxes through the LANDBANK LinkBiz Portal, an alternative payment channel that allows taxpayers to pay their taxes via the internet.

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Finance Secretary Carlos Dominguez III presents the Duterte administration’s economic program during the Deutsche Bank Access Philippines forum.

2-step plan to ease ownership limit bared

By Riza Lozada The government is currently reviewing its Foreign Investment Negative List (FINL) as a way of increasing business projects that would be allowed full foreign participation or ownership prior to an eventual plan to amend the Constitution, Finance Secretary Carlos Dominguez III said during the economic officials’ mission to China.

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Young workforce key Phl advantage—EU poll

The Philippines has the best availability of skilled and competitively priced labor and ease of recruiting labor in the Association of Southeast Asian Nations (Asean) region, according to a recent survey of European businesses in Southeast Asia.

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WB report notes declining poverty rate amid growth

By Luis Leoncio The economy sustaining its strong growth path of above six percent would result in the poverty rate to decline to 22.9 percent in 2018, the World Bank (WB) said in its October 2017 edition of the East Asia and Pacific Economic Update.

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