June 22, 2017, 10:29 pm
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1 Philippine Peso = 0.07443 UAE Dirham
1 Philippine Peso = 2.4017 Albanian Lek
1 Philippine Peso = 0.03628 Neth Antilles Guilder
1 Philippine Peso = 0.32436 Argentine Peso
1 Philippine Peso = 0.02723 Australian Dollar
1 Philippine Peso = 0.03626 Aruba Florin
1 Philippine Peso = 0.04054 Barbados Dollar
1 Philippine Peso = 1.63579 Bangladesh Taka
1 Philippine Peso = 0.03534 Bulgarian Lev
1 Philippine Peso = 0.00763 Bahraini Dinar
1 Philippine Peso = 34.60377 Burundi Franc
1 Philippine Peso = 0.02027 Bermuda Dollar
1 Philippine Peso = 0.02797 Brunei Dollar
1 Philippine Peso = 0.13904 Bolivian Boliviano
1 Philippine Peso = 0.06579 Brazilian Real
1 Philippine Peso = 0.02027 Bahamian Dollar
1 Philippine Peso = 1.30624 Bhutan Ngultrum
1 Philippine Peso = 0.20692 Botswana Pula
1 Philippine Peso = 405.75598 Belarus Ruble
1 Philippine Peso = 0.04049 Belize Dollar
1 Philippine Peso = 0.02733 Canadian Dollar
1 Philippine Peso = 0.01952 Swiss Franc
1 Philippine Peso = 13.57175 Chilean Peso
1 Philippine Peso = 0.13799 Chinese Yuan
1 Philippine Peso = 58.59343 Colombian Peso
1 Philippine Peso = 11.43535 Costa Rica Colon
1 Philippine Peso = 0.02027 Cuban Peso
1 Philippine Peso = 1.98075 Cape Verde Escudo
1 Philippine Peso = 0.47231 Czech Koruna
1 Philippine Peso = 3.59951 Djibouti Franc
1 Philippine Peso = 0.13357 Danish Krone
1 Philippine Peso = 0.95278 Dominican Peso
1 Philippine Peso = 2.19181 Algerian Dinar
1 Philippine Peso = 0.28109 Estonian Kroon
1 Philippine Peso = 0.36583 Egyptian Pound
1 Philippine Peso = 0.46433 Ethiopian Birr
1 Philippine Peso = 0.01797 Euro
1 Philippine Peso = 0.04244 Fiji Dollar
1 Philippine Peso = 0.01573 Falkland Islands Pound
1 Philippine Peso = 0.01572 British Pound
1 Philippine Peso = 0.08685 Ghanaian Cedi
1 Philippine Peso = 0.91021 Gambian Dalasi
1 Philippine Peso = 182.75233 Guinea Franc
1 Philippine Peso = 0.1491 Guatemala Quetzal
1 Philippine Peso = 4.14512 Guyana Dollar
1 Philippine Peso = 0.15784 Hong Kong Dollar
1 Philippine Peso = 0.47422 Honduras Lempira
1 Philippine Peso = 0.13229 Croatian Kuna
1 Philippine Peso = 1.24625 Haiti Gourde
1 Philippine Peso = 5.54195 Hungarian Forint
1 Philippine Peso = 269.57844 Indonesian Rupiah
1 Philippine Peso = 0.07211 Israeli Shekel
1 Philippine Peso = 1.30521 Indian Rupee
1 Philippine Peso = 23.93595 Iraqi Dinar
1 Philippine Peso = 657.62059 Iran Rial
1 Philippine Peso = 1.9771 Iceland Krona
1 Philippine Peso = 2.6139 Jamaican Dollar
1 Philippine Peso = 0.01433 Jordanian Dinar
1 Philippine Peso = 2.23666 Japanese Yen
1 Philippine Peso = 2.0906 Kenyan Shilling
1 Philippine Peso = 1.38113 Kyrgyzstan Som
1 Philippine Peso = 81.57681 Cambodia Riel
1 Philippine Peso = 9.12404 Comoros Franc
1 Philippine Peso = 18.24078 North Korean Won
1 Philippine Peso = 22.6366 Korean Won
1 Philippine Peso = 0.00614 Kuwaiti Dinar
1 Philippine Peso = 0.01662 Cayman Islands Dollar
1 Philippine Peso = 6.364 Kazakhstan Tenge
1 Philippine Peso = 166.08836 Lao Kip
1 Philippine Peso = 30.51277 Lebanese Pound
1 Philippine Peso = 3.08877 Sri Lanka Rupee
1 Philippine Peso = 1.84435 Liberian Dollar
1 Philippine Peso = 0.25922 Lesotho Loti
1 Philippine Peso = 0.06179 Lithuanian Lita
1 Philippine Peso = 0.01258 Latvian Lat
1 Philippine Peso = 0.02821 Libyan Dinar
1 Philippine Peso = 0.19642 Moroccan Dirham
1 Philippine Peso = 0.36735 Moldovan Leu
1 Philippine Peso = 1.09972 Macedonian Denar
1 Philippine Peso = 27.52331 Myanmar Kyat
1 Philippine Peso = 48.27726 Mongolian Tugrik
1 Philippine Peso = 0.16258 Macau Pataca
1 Philippine Peso = 7.25578 Mauritania Ougulya
1 Philippine Peso = 0.70024 Mauritius Rupee
1 Philippine Peso = 0.31394 Maldives Rufiyaa
1 Philippine Peso = 14.54094 Malawi Kwacha
1 Philippine Peso = 0.37863 Mexican Peso
1 Philippine Peso = 0.08672 Malaysian Ringgit
1 Philippine Peso = 0.2604 Namibian Dollar
1 Philippine Peso = 6.52615 Nigerian Naira
1 Philippine Peso = 0.59972 Nicaragua Cordoba
1 Philippine Peso = 0.17055 Norwegian Krone
1 Philippine Peso = 2.08654 Nepalese Rupee
1 Philippine Peso = 0.02835 New Zealand Dollar
1 Philippine Peso = 0.00779 Omani Rial
1 Philippine Peso = 0.02027 Panama Balboa
1 Philippine Peso = 0.06622 Peruvian Nuevo Sol
1 Philippine Peso = 0.06654 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.11897 Pakistani Rupee
1 Philippine Peso = 0.0753 Polish Zloty
1 Philippine Peso = 112.82935 Paraguayan Guarani
1 Philippine Peso = 0.0738 Qatar Rial
1 Philippine Peso = 0.08196 Romanian New Leu
1 Philippine Peso = 1.14766 Russian Rouble
1 Philippine Peso = 16.61897 Rwanda Franc
1 Philippine Peso = 0.076 Saudi Arabian Riyal
1 Philippine Peso = 0.16004 Solomon Islands Dollar
1 Philippine Peso = 0.26836 Seychelles Rupee
1 Philippine Peso = 0.13498 Sudanese Pound
1 Philippine Peso = 0.17451 Swedish Krona
1 Philippine Peso = 0.02797 Singapore Dollar
1 Philippine Peso = 0.01573 St Helena Pound
1 Philippine Peso = 0.45006 Slovak Koruna
1 Philippine Peso = 152.00649 Sierra Leone Leone
1 Philippine Peso = 11.08634 Somali Shilling
1 Philippine Peso = 435.85326 Sao Tome Dobra
1 Philippine Peso = 0.17678 El Salvador Colon
1 Philippine Peso = 10.43737 Syrian Pound
1 Philippine Peso = 0.26014 Swaziland Lilageni
1 Philippine Peso = 0.6897 Thai Baht
1 Philippine Peso = 0.04917 Tunisian Dinar
1 Philippine Peso = 0.04647 Tongan paʻanga
1 Philippine Peso = 0.0711 Turkish Lira
1 Philippine Peso = 0.13537 Trinidad Tobago Dollar
1 Philippine Peso = 0.61011 Taiwan Dollar
1 Philippine Peso = 45.17633 Tanzanian Shilling
1 Philippine Peso = 0.53223 Ukraine Hryvnia
1 Philippine Peso = 72.78071 Ugandan Shilling
1 Philippine Peso = 0.02027 United States Dollar
1 Philippine Peso = 0.57377 Uruguayan New Peso
1 Philippine Peso = 77.82732 Uzbekistan Sum
1 Philippine Peso = 0.20216 Venezuelan Bolivar
1 Philippine Peso = 459.54601 Vietnam Dong
1 Philippine Peso = 2.18241 Vanuatu Vatu
1 Philippine Peso = 0.05201 Samoa Tala
1 Philippine Peso = 11.77483 CFA Franc (BEAC)
1 Philippine Peso = 0.05472 East Caribbean Dollar
1 Philippine Peso = 11.82205 CFA Franc (BCEAO)
1 Philippine Peso = 2.13174 Pacific Franc
1 Philippine Peso = 5.06546 Yemen Riyal
1 Philippine Peso = 0.25921 South African Rand
1 Philippine Peso = 105.17835 Zambian Kwacha
1 Philippine Peso = 7.33482 Zimbabwe dollar

Views on Investments and Industry Development

By Undersecretary Adrian Cristobal Jr., DTI
 
Investments Outlook for 2015

With a growth forecast of 6.4%, the highest among the Association of Southeast Asian Nations-6 (Asean-6) member states, investments in key sectors will continue to flow into the country as the Philippine economy maintains its robust expansion this year.

The country’s performance, buoyed by consistent investment upgrades from five international credit ratings agencies, reaffirmed its status as “Asia’s Bright Spot” or the “New Asian Tiger,” among emerging economies in the region.

International organizations and publications have likewise affirmed the Philippine’s enhanced standing evidenced by their latest rankings.

The latest World Economic Forum’s (WEF) Global Competitiveness Rankings placed the country at the 52nd spot, an increase which the WEF considered the largest gain over that period among all rated countries.

The Heritage Foundation’s Index of Economic Freedom placed the country at the 89th position, an improvement of 8 points from the previous year.

The World Bank (WB) and International Finance Corporation (IFC) affirmed the remarkable improvement on the country’s “Doing Business” scorecard. The Philippines, declared as one of the 10 countries which registered the biggest strides in business regulation, leaped from the 108th in the previous year to 95th place, a notable improvement of 13 notches.

The continuing global investment sentiment for the Philippines will fuel its economy towards an investment-led growth with the manufacturing and services sectors serving as key growth drivers.
 
The Growth of the Manufacturing Industry

Manufacturing is expected to continue to lead the overall growth in the Industrial sector in 2015 with its share to total Gross Domestic Product (GDP) expected to rise steadily. Manufacturing accounted for 23.2 percent of total GDP, the biggest contributor among the industry sub-sectors in the first semester of 2014.

While growth in manufacturing over the last five years has been variable, the surge posted in 2013 was sustained in the first half of 2014, as it grew by 8.8 percent. Drivers of growth were publishing and printing (51.5%), fabricated metal products (49.4%), and machinery and equipment (47.0%)

In 2013, Manufacturing accounted for 3.2 million jobs, an estimated increase of 1.5% from the previous year. Manufacturing maintained this level of growth in job generation in the first semester of 2014.

To sustain this momentum, the Manufacturing Resurgence Program (MRP), a priority undertaking of the present administration, targets a 30% increase in Gross Value Added (GVA) and 15% increase in employment by 2025.

A major component of the MRP is the Manufacturing Industry Roadmap (MIR) developed by the DTI and the Board of Investments (BOI) in collaboration with stakeholders. The MIR identifies the required steps and interventions to address issues to further development. These include: Infrastructure and Logistics; Governance and Regulation; Supply and Value Chain Gaps; Domestic Market Base Expansion; SME Development; Human Resources; and Innovation.

The MIR will support the development of a Comprehensive National Industrial Strategy, the framework that coordinates the country’s efforts at industry upgrading and structural transformation to achieve sustainable and inclusive growth.

Industry Development Program

Initiated in 2012, the Industry Development Program (IDP) partnered with the private sector to develop sectoral roadmaps. The roadmaps identify relevant laws, regulations and policies that drive the development of the sector or industry, such as government support and incentives, existing programs for sector, latest technologies and trends, as well as relevant global and regional developments that could impact growth. Since then, about 30 industry roadmaps have been integrated into the broader MIR.

Government is an enabler and facilitator, coordinating with interested industry associations, partner agencies, members of the academe, and civil society organizations. The empirical data and the vast experience of stakeholders have helped put together the industry roadmaps. Each sectoral roadmap is different and at varying stages of maturity and as such provide vital inputs in the crafting of investment policies such as the annual Investment Priorities Plan (IPP), the country’s blueprint for investment promotions. Likewise the roadmaps have helped identify value-chain gaps to guide investments promotion and define government positions and strategies for trade and investment negotiations.

Since 2012, some 18 Technical Working Groups (TWGs) have been established and convened. These TWGs identify major policy reform issues, administrative bottlenecks, and concrete projects for implementation. The TWGs are composed of government and private sector stakeholders chaired by BOI sectoral and industry champions.

The Chemicals TWG was able to establish a research and innovation partnership with the UP Engineering Research and Development for Technology to strengthen the synergy between the sector and the academe. The TWG coordinated with the Food and Drugs Administration to streamline procedures for importation of chemical materials and agreed to deregulate bulk industrial chemicals used as raw materials in cosmetics. The chemicals industry association likewise entered into a Memorandum of Agreement with TESDA for skills identification and the development of a TESDA curriculum for the chemicals industry, specifically for laboratory technicians and plant production operators.

Of the 30 industry sectoral roadmaps, 25 have been finalized and 5 are in the draft stage. Some 21 more sectoral roadmaps are being developed and will be completed by early 2015. Completed roadmaps include the following: aerospace, automotive, automotive parts, biodiesel, cement, ceramic tiles, chemicals, copper and copper products, electric vehicles, electronics, furniture, iron and steel, IT-BPM, manufacturing, mass housing, metalcasting, motorcycles, natural health products, petrochemicals, plastics, pulp and paper, rubber products, and tool and die. The roadmaps for  bamboo, coco coir and creative industries are currently in development.
 
The Investments Priorities Plan

The 2014 IPP is a tool for industrial development and economic growth. It aims to attract investments that would fill gaps in the supply or value chain, boost sectors with latent or obvious competitive advantage, and offset market imperfections. Based on industry studies, plans and roadmaps, and after rigorous  analysis and consultations with stakeholders nationwide. The 2014 IPP now identifies specific economic activities which shall receive fiscal and non-fiscal incentives: Income Tax Holiday; Exemption from taxes and duties on imported spare parts; Exemption from wharfage dues and export tax, duty, impost and fees; Reduction of the Rates of Duty on Capital Equipment, Spareparts  and Accessories; Tax exemption on breeding stocks and genetic materials; Tax Credits; Additional deductions from Taxable

Income; Non-Fiscal Incentives; Employment of Foreign Nationals; Simplification of customs procedures; Importation of consigned equipment; Privilege to operate a bonded manufacturing warehouse.

Sources:

1. ADB Outlook 2014 Update, September 2014, Manila

2. BOI 2013 Annual Report

3. DTI Presentation –Mid Year Economic Briefing September 2014 at PICC

4. 2014 Investments Priorities Plan

5. DTI Up Beat September 2014

6  National Competitiveness Council

7. Investphilippines.gov.ph
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