February 23, 2018, 6:22 pm
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1 Philippine Peso = 0.07045 UAE Dirham
1 Philippine Peso = 2.04297 Albanian Lek
1 Philippine Peso = 0.03415 Neth Antilles Guilder
1 Philippine Peso = 0.38059 Argentine Peso
1 Philippine Peso = 0.02443 Australian Dollar
1 Philippine Peso = 0.03415 Aruba Florin
1 Philippine Peso = 0.03837 Barbados Dollar
1 Philippine Peso = 1.59409 Bangladesh Taka
1 Philippine Peso = 0.0304 Bulgarian Lev
1 Philippine Peso = 0.00723 Bahraini Dinar
1 Philippine Peso = 33.58872 Burundi Franc
1 Philippine Peso = 0.01918 Bermuda Dollar
1 Philippine Peso = 0.02533 Brunei Dollar
1 Philippine Peso = 0.13159 Bolivian Boliviano
1 Philippine Peso = 0.06235 Brazilian Real
1 Philippine Peso = 0.01918 Bahamian Dollar
1 Philippine Peso = 1.2325 Bhutan Ngultrum
1 Philippine Peso = 0.18295 Botswana Pula
1 Philippine Peso = 384.03989 Belarus Ruble
1 Philippine Peso = 0.03832 Belize Dollar
1 Philippine Peso = 0.02429 Canadian Dollar
1 Philippine Peso = 0.018 Swiss Franc
1 Philippine Peso = 11.42605 Chilean Peso
1 Philippine Peso = 0.12152 Chinese Yuan
1 Philippine Peso = 54.88202 Colombian Peso
1 Philippine Peso = 10.87186 Costa Rica Colon
1 Philippine Peso = 0.01918 Cuban Peso
1 Philippine Peso = 1.71801 Cape Verde Escudo
1 Philippine Peso = 0.39493 Czech Koruna
1 Philippine Peso = 3.3921 Djibouti Franc
1 Philippine Peso = 0.11601 Danish Krone
1 Philippine Peso = 0.94226 Dominican Peso
1 Philippine Peso = 2.17652 Algerian Dinar
1 Philippine Peso = 0.24369 Estonian Kroon
1 Philippine Peso = 0.33858 Egyptian Pound
1 Philippine Peso = 0.52177 Ethiopian Birr
1 Philippine Peso = 0.01557 Euro
1 Philippine Peso = 0.03825 Fiji Dollar
1 Philippine Peso = 0.01371 Falkland Islands Pound
1 Philippine Peso = 0.01377 British Pound
1 Philippine Peso = 0.08533 Ghanaian Cedi
1 Philippine Peso = 0.89967 Gambian Dalasi
1 Philippine Peso = 172.74122 Guinea Franc
1 Philippine Peso = 0.14073 Guatemala Quetzal
1 Philippine Peso = 3.9296 Guyana Dollar
1 Philippine Peso = 0.15011 Hong Kong Dollar
1 Philippine Peso = 0.45024 Honduras Lempira
1 Philippine Peso = 0.11584 Croatian Kuna
1 Philippine Peso = 1.216 Haiti Gourde
1 Philippine Peso = 4.85824 Hungarian Forint
1 Philippine Peso = 261.23153 Indonesian Rupiah
1 Philippine Peso = 0.06714 Israeli Shekel
1 Philippine Peso = 1.24329 Indian Rupee
1 Philippine Peso = 22.71245 Iraqi Dinar
1 Philippine Peso = 713.12103 Iran Rial
1 Philippine Peso = 1.9248 Iceland Krona
1 Philippine Peso = 2.40936 Jamaican Dollar
1 Philippine Peso = 0.01359 Jordanian Dinar
1 Philippine Peso = 2.0619 Japanese Yen
1 Philippine Peso = 1.9413 Kenyan Shilling
1 Philippine Peso = 1.3061 Kyrgyzstan Som
1 Philippine Peso = 77.09572 Cambodia Riel
1 Philippine Peso = 7.62709 Comoros Franc
1 Philippine Peso = 17.26453 North Korean Won
1 Philippine Peso = 20.55496 Korean Won
1 Philippine Peso = 0.00575 Kuwaiti Dinar
1 Philippine Peso = 0.01573 Cayman Islands Dollar
1 Philippine Peso = 6.12565 Kazakhstan Tenge
1 Philippine Peso = 158.52676 Lao Kip
1 Philippine Peso = 28.96605 Lebanese Pound
1 Philippine Peso = 2.97621 Sri Lanka Rupee
1 Philippine Peso = 2.45904 Liberian Dollar
1 Philippine Peso = 0.22463 Lesotho Loti
1 Philippine Peso = 0.05848 Lithuanian Lita
1 Philippine Peso = 0.0119 Latvian Lat
1 Philippine Peso = 0.02544 Libyan Dinar
1 Philippine Peso = 0.17647 Moroccan Dirham
1 Philippine Peso = 0.31853 Moldovan Leu
1 Philippine Peso = 0.95396 Macedonian Denar
1 Philippine Peso = 25.47477 Myanmar Kyat
1 Philippine Peso = 45.90946 Mongolian Tugrik
1 Philippine Peso = 0.15451 Macau Pataca
1 Philippine Peso = 6.71398 Mauritania Ougulya
1 Philippine Peso = 0.62536 Mauritius Rupee
1 Philippine Peso = 0.29868 Maldives Rufiyaa
1 Philippine Peso = 13.76098 Malawi Kwacha
1 Philippine Peso = 0.35911 Mexican Peso
1 Philippine Peso = 0.07494 Malaysian Ringgit
1 Philippine Peso = 0.22327 Namibian Dollar
1 Philippine Peso = 6.88663 Nigerian Naira
1 Philippine Peso = 0.59477 Nicaragua Cordoba
1 Philippine Peso = 0.15035 Norwegian Krone
1 Philippine Peso = 1.98703 Nepalese Rupee
1 Philippine Peso = 0.02611 New Zealand Dollar
1 Philippine Peso = 0.00738 Omani Rial
1 Philippine Peso = 0.01918 Panama Balboa
1 Philippine Peso = 0.06229 Peruvian Nuevo Sol
1 Philippine Peso = 0.0629 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.11989 Pakistani Rupee
1 Philippine Peso = 0.06472 Polish Zloty
1 Philippine Peso = 106.82716 Paraguayan Guarani
1 Philippine Peso = 0.06982 Qatar Rial
1 Philippine Peso = 0.07256 Romanian New Leu
1 Philippine Peso = 1.0862 Russian Rouble
1 Philippine Peso = 16.12737 Rwanda Franc
1 Philippine Peso = 0.07193 Saudi Arabian Riyal
1 Philippine Peso = 0.14866 Solomon Islands Dollar
1 Philippine Peso = 0.2582 Seychelles Rupee
1 Philippine Peso = 0.34501 Sudanese Pound
1 Philippine Peso = 0.15536 Swedish Krona
1 Philippine Peso = 0.02534 Singapore Dollar
1 Philippine Peso = 0.01372 St Helena Pound
1 Philippine Peso = 0.42597 Slovak Koruna
1 Philippine Peso = 146.36485 Sierra Leone Leone
1 Philippine Peso = 10.78074 Somali Shilling
1 Philippine Peso = 381.75523 Sao Tome Dobra
1 Philippine Peso = 0.16785 El Salvador Colon
1 Philippine Peso = 9.87876 Syrian Pound
1 Philippine Peso = 0.22325 Swaziland Lilageni
1 Philippine Peso = 0.60368 Thai Baht
1 Philippine Peso = 0.04586 Tunisian Dinar
1 Philippine Peso = 0.0428 Tongan paʻanga
1 Philippine Peso = 0.07262 Turkish Lira
1 Philippine Peso = 0.12717 Trinidad Tobago Dollar
1 Philippine Peso = 0.55966 Taiwan Dollar
1 Philippine Peso = 43.06541 Tanzanian Shilling
1 Philippine Peso = 0.51746 Ukraine Hryvnia
1 Philippine Peso = 69.67197 Ugandan Shilling
1 Philippine Peso = 0.01918 United States Dollar
1 Philippine Peso = 0.54556 Uruguayan New Peso
1 Philippine Peso = 156.62766 Uzbekistan Sum
1 Philippine Peso = 478.3426 Venezuelan Bolivar
1 Philippine Peso = 435.71839 Vietnam Dong
1 Philippine Peso = 1.98465 Vanuatu Vatu
1 Philippine Peso = 0.04817 Samoa Tala
1 Philippine Peso = 10.20986 CFA Franc (BEAC)
1 Philippine Peso = 0.05179 East Caribbean Dollar
1 Philippine Peso = 10.20986 CFA Franc (BCEAO)
1 Philippine Peso = 1.85248 Pacific Franc
1 Philippine Peso = 4.79474 Yemen Riyal
1 Philippine Peso = 0.22325 South African Rand
1 Philippine Peso = 99.5492 Zambian Kwacha
1 Philippine Peso = 6.94226 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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