January 18, 2017, 2:09 pm
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1 Philippine Peso = 0.07373 UAE Dirham
1 Philippine Peso = 2.57378 Albanian Lek
1 Philippine Peso = 0.03554 Neth Antilles Guilder
1 Philippine Peso = 0.31799 Argentine Peso
1 Philippine Peso = 0.02683 Australian Dollar
1 Philippine Peso = 0.03594 Aruba Florin
1 Philippine Peso = 0.04015 Barbados Dollar
1 Philippine Peso = 1.59024 Bangladesh Taka
1 Philippine Peso = 0.03683 Bulgarian Lev
1 Philippine Peso = 0.00756 Bahraini Dinar
1 Philippine Peso = 33.69343 Burundi Franc
1 Philippine Peso = 0.02008 Bermuda Dollar
1 Philippine Peso = 0.02866 Brunei Dollar
1 Philippine Peso = 0.13752 Bolivian Boliviano
1 Philippine Peso = 0.06466 Brazilian Real
1 Philippine Peso = 0.02008 Bahamian Dollar
1 Philippine Peso = 1.3697 Bhutan Ngultrum
1 Philippine Peso = 0.21257 Botswana Pula
1 Philippine Peso = 401.92732 Belarus Ruble
1 Philippine Peso = 0.03975 Belize Dollar
1 Philippine Peso = 0.02636 Canadian Dollar
1 Philippine Peso = 0.02027 Swiss Franc
1 Philippine Peso = 13.25216 Chilean Peso
1 Philippine Peso = 0.13857 Chinese Yuan
1 Philippine Peso = 59.08452 Colombian Peso
1 Philippine Peso = 10.94158 Costa Rica Colon
1 Philippine Peso = 0.02008 Cuban Peso
1 Philippine Peso = 2.08352 Cape Verde Escudo
1 Philippine Peso = 0.51054 Czech Koruna
1 Philippine Peso = 3.5802 Djibouti Franc
1 Philippine Peso = 0.14047 Danish Krone
1 Philippine Peso = 0.93074 Dominican Peso
1 Philippine Peso = 2.20173 Algerian Dinar
1 Philippine Peso = 0.29553 Estonian Kroon
1 Philippine Peso = 0.37844 Egyptian Pound
1 Philippine Peso = 0.45091 Ethiopian Birr
1 Philippine Peso = 0.01889 Euro
1 Philippine Peso = 0.04186 Fiji Dollar
1 Philippine Peso = 0.01668 Falkland Islands Pound
1 Philippine Peso = 0.01668 British Pound
1 Philippine Peso = 0.08489 Ghanaian Cedi
1 Philippine Peso = 0.88376 Gambian Dalasi
1 Philippine Peso = 186.70949 Guinea Franc
1 Philippine Peso = 0.15123 Guatemala Quetzal
1 Philippine Peso = 4.106 Guyana Dollar
1 Philippine Peso = 0.15569 Hong Kong Dollar
1 Philippine Peso = 0.45774 Honduras Lempira
1 Philippine Peso = 0.14162 Croatian Kuna
1 Philippine Peso = 1.28749 Haiti Gourde
1 Philippine Peso = 5.79984 Hungarian Forint
1 Philippine Peso = 267.35595 Indonesian Rupiah
1 Philippine Peso = 0.07659 Israeli Shekel
1 Philippine Peso = 1.3682 Indian Rupee
1 Philippine Peso = 23.7101 Iraqi Dinar
1 Philippine Peso = 649.86949 Iran Rial
1 Philippine Peso = 2.28267 Iceland Krona
1 Philippine Peso = 2.57599 Jamaican Dollar
1 Philippine Peso = 0.01421 Jordanian Dinar
1 Philippine Peso = 2.28719 Japanese Yen
1 Philippine Peso = 2.08292 Kenyan Shilling
1 Philippine Peso = 1.39468 Kyrgyzstan Som
1 Philippine Peso = 80.11845 Cambodia Riel
1 Philippine Peso = 9.27525 Comoros Franc
1 Philippine Peso = 18.06866 North Korean Won
1 Philippine Peso = 23.72214 Korean Won
1 Philippine Peso = 0.00613 Kuwaiti Dinar
1 Philippine Peso = 0.01646 Cayman Islands Dollar
1 Philippine Peso = 6.68681 Kazakhstan Tenge
1 Philippine Peso = 163.9229 Lao Kip
1 Philippine Peso = 30.21682 Lebanese Pound
1 Philippine Peso = 3.01144 Sri Lanka Rupee
1 Philippine Peso = 1.82694 Liberian Dollar
1 Philippine Peso = 0.27103 Lesotho Loti
1 Philippine Peso = 0.06121 Lithuanian Lita
1 Philippine Peso = 0.01246 Latvian Lat
1 Philippine Peso = 0.02868 Libyan Dinar
1 Philippine Peso = 0.20159 Moroccan Dirham
1 Philippine Peso = 0.40323 Moldovan Leu
1 Philippine Peso = 1.15559 Macedonian Denar
1 Philippine Peso = 27.06284 Myanmar Kyat
1 Philippine Peso = 49.94981 Mongolian Tugrik
1 Philippine Peso = 0.16036 Macau Pataca
1 Philippine Peso = 7.12387 Mauritania Ougulya
1 Philippine Peso = 0.72014 Mauritius Rupee
1 Philippine Peso = 0.30797 Maldives Rufiyaa
1 Philippine Peso = 14.38807 Malawi Kwacha
1 Philippine Peso = 0.43213 Mexican Peso
1 Philippine Peso = 0.08957 Malaysian Ringgit
1 Philippine Peso = 0.27209 Namibian Dollar
1 Philippine Peso = 6.32403 Nigerian Naira
1 Philippine Peso = 0.58975 Nicaragua Cordoba
1 Philippine Peso = 0.17069 Norwegian Krone
1 Philippine Peso = 2.1843 Nepalese Rupee
1 Philippine Peso = 0.02826 New Zealand Dollar
1 Philippine Peso = 0.00773 Omani Rial
1 Philippine Peso = 0.02008 Panama Balboa
1 Philippine Peso = 0.06745 Peruvian Nuevo Sol
1 Philippine Peso = 0.06333 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.10359 Pakistani Rupee
1 Philippine Peso = 0.08276 Polish Zloty
1 Philippine Peso = 116.05701 Paraguayan Guarani
1 Philippine Peso = 0.0731 Qatar Rial
1 Philippine Peso = 0.08481 Romanian New Leu
1 Philippine Peso = 1.19264 Russian Rouble
1 Philippine Peso = 16.31379 Rwanda Franc
1 Philippine Peso = 0.07528 Saudi Arabian Riyal
1 Philippine Peso = 0.15698 Solomon Islands Dollar
1 Philippine Peso = 0.26272 Seychelles Rupee
1 Philippine Peso = 0.12864 Sudanese Pound
1 Philippine Peso = 0.17904 Swedish Krona
1 Philippine Peso = 0.02867 Singapore Dollar
1 Philippine Peso = 0.01668 St Helena Pound
1 Philippine Peso = 0.44581 Slovak Koruna
1 Philippine Peso = 146.29592 Sierra Leone Leone
1 Philippine Peso = 10.96165 Somali Shilling
1 Philippine Peso = 462.93516 Sao Tome Dobra
1 Philippine Peso = 0.17511 El Salvador Colon
1 Philippine Peso = 10.33889 Syrian Pound
1 Philippine Peso = 0.27216 Swaziland Lilageni
1 Philippine Peso = 0.7113 Thai Baht
1 Philippine Peso = 0.04658 Tunisian Dinar
1 Philippine Peso = 0.04632 Tonga Pa'ang
1 Philippine Peso = 0.07556 Turkish Lira
1 Philippine Peso = 0.1345 Trinidad Tobago Dollar
1 Philippine Peso = 0.63521 Taiwan Dollar
1 Philippine Peso = 44.48906 Tanzanian Shilling
1 Philippine Peso = 0.5529 Ukraine Hryvnia
1 Philippine Peso = 72.37502 Ugandan Shilling
1 Philippine Peso = 0.02008 United States Dollar
1 Philippine Peso = 0.57519 Uruguayan New Peso
1 Philippine Peso = 64.9468 Uzbekistan Sum
1 Philippine Peso = 0.20026 Venezuelan Bolivar
1 Philippine Peso = 453.06163 Vietnam Dong
1 Philippine Peso = 2.15479 Vanuatu Vatu
1 Philippine Peso = 0.05167 Samoa Tala
1 Philippine Peso = 12.38747 CFA Franc (BEAC)
1 Philippine Peso = 0.05421 East Caribbean Dollar
1 Philippine Peso = 12.49508 CFA Franc (BCEAO)
1 Philippine Peso = 2.24312 Pacific Franc
1 Philippine Peso = 5.01706 Yemen Riyal
1 Philippine Peso = 0.27219 South African Rand
1 Philippine Peso = 104.1859 Zambian Kwacha
1 Philippine Peso = 7.26561 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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