April 29, 2017, 11:47 am
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1 Philippine Peso = 0.07338 UAE Dirham
1 Philippine Peso = 2.47153 Albanian Lek
1 Philippine Peso = 0.03551 Neth Antilles Guilder
1 Philippine Peso = 0.30767 Argentine Peso
1 Philippine Peso = 0.0267 Australian Dollar
1 Philippine Peso = 0.03576 Aruba Florin
1 Philippine Peso = 0.03996 Barbados Dollar
1 Philippine Peso = 1.62058 Bangladesh Taka
1 Philippine Peso = 0.03591 Bulgarian Lev
1 Philippine Peso = 0.00753 Bahraini Dinar
1 Philippine Peso = 33.97123 Burundi Franc
1 Philippine Peso = 0.01998 Bermuda Dollar
1 Philippine Peso = 0.02787 Brunei Dollar
1 Philippine Peso = 0.13766 Bolivian Boliviano
1 Philippine Peso = 0.06313 Brazilian Real
1 Philippine Peso = 0.01998 Bahamian Dollar
1 Philippine Peso = 1.28122 Bhutan Ngultrum
1 Philippine Peso = 0.20824 Botswana Pula
1 Philippine Peso = 400.00001 Belarus Ruble
1 Philippine Peso = 0.03992 Belize Dollar
1 Philippine Peso = 0.02724 Canadian Dollar
1 Philippine Peso = 0.01979 Swiss Franc
1 Philippine Peso = 13.24575 Chilean Peso
1 Philippine Peso = 0.13775 Chinese Yuan
1 Philippine Peso = 58.71728 Colombian Peso
1 Philippine Peso = 11.01139 Costa Rica Colon
1 Philippine Peso = 0.01998 Cuban Peso
1 Philippine Peso = 2.01439 Cape Verde Escudo
1 Philippine Peso = 0.49203 Czech Koruna
1 Philippine Peso = 3.51329 Djibouti Franc
1 Philippine Peso = 0.13587 Danish Krone
1 Philippine Peso = 0.94126 Dominican Peso
1 Philippine Peso = 2.18054 Algerian Dinar
1 Philippine Peso = 0.28573 Estonian Kroon
1 Philippine Peso = 0.36064 Egyptian Pound
1 Philippine Peso = 0.45667 Ethiopian Birr
1 Philippine Peso = 0.01826 Euro
1 Philippine Peso = 0.04187 Fiji Dollar
1 Philippine Peso = 0.01546 Falkland Islands Pound
1 Philippine Peso = 0.01544 British Pound
1 Philippine Peso = 0.08339 Ghanaian Cedi
1 Philippine Peso = 0.88012 Gambian Dalasi
1 Philippine Peso = 183.86813 Guinea Franc
1 Philippine Peso = 0.14668 Guatemala Quetzal
1 Philippine Peso = 4.08292 Guyana Dollar
1 Philippine Peso = 0.1554 Hong Kong Dollar
1 Philippine Peso = 0.46693 Honduras Lempira
1 Philippine Peso = 0.13577 Croatian Kuna
1 Philippine Peso = 1.35684 Haiti Gourde
1 Philippine Peso = 5.7015 Hungarian Forint
1 Philippine Peso = 266.45355 Indonesian Rupiah
1 Philippine Peso = 0.07222 Israeli Shekel
1 Philippine Peso = 1.28482 Indian Rupee
1 Philippine Peso = 23.5964 Iraqi Dinar
1 Philippine Peso = 648.13188 Iran Rial
1 Philippine Peso = 2.12587 Iceland Krona
1 Philippine Peso = 2.56723 Jamaican Dollar
1 Philippine Peso = 0.01416 Jordanian Dinar
1 Philippine Peso = 2.22689 Japanese Yen
1 Philippine Peso = 2.05694 Kenyan Shilling
1 Philippine Peso = 1.34302 Kyrgyzstan Som
1 Philippine Peso = 80.01199 Cambodia Riel
1 Philippine Peso = 9.22717 Comoros Franc
1 Philippine Peso = 17.98202 North Korean Won
1 Philippine Peso = 22.74046 Korean Won
1 Philippine Peso = 0.00607 Kuwaiti Dinar
1 Philippine Peso = 0.01638 Cayman Islands Dollar
1 Philippine Peso = 6.28332 Kazakhstan Tenge
1 Philippine Peso = 163.51649 Lao Kip
1 Philippine Peso = 30.09391 Lebanese Pound
1 Philippine Peso = 3.03696 Sri Lanka Rupee
1 Philippine Peso = 1.81818 Liberian Dollar
1 Philippine Peso = 0.26693 Lesotho Loti
1 Philippine Peso = 0.06091 Lithuanian Lita
1 Philippine Peso = 0.0124 Latvian Lat
1 Philippine Peso = 0.02813 Libyan Dinar
1 Philippine Peso = 0.1977 Moroccan Dirham
1 Philippine Peso = 0.38132 Moldovan Leu
1 Philippine Peso = 1.11848 Macedonian Denar
1 Philippine Peso = 27.13287 Myanmar Kyat
1 Philippine Peso = 48.19181 Mongolian Tugrik
1 Philippine Peso = 0.16005 Macau Pataca
1 Philippine Peso = 7.13467 Mauritania Ougulya
1 Philippine Peso = 0.69331 Mauritius Rupee
1 Philippine Peso = 0.30689 Maldives Rufiyaa
1 Philippine Peso = 14.34486 Malawi Kwacha
1 Philippine Peso = 0.38017 Mexican Peso
1 Philippine Peso = 0.08672 Malaysian Ringgit
1 Philippine Peso = 0.26573 Namibian Dollar
1 Philippine Peso = 6.28372 Nigerian Naira
1 Philippine Peso = 0.59521 Nicaragua Cordoba
1 Philippine Peso = 0.17029 Norwegian Krone
1 Philippine Peso = 2.03996 Nepalese Rupee
1 Philippine Peso = 0.02907 New Zealand Dollar
1 Philippine Peso = 0.00769 Omani Rial
1 Philippine Peso = 0.01998 Panama Balboa
1 Philippine Peso = 0.06481 Peruvian Nuevo Sol
1 Philippine Peso = 0.06333 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.09251 Pakistani Rupee
1 Philippine Peso = 0.07709 Polish Zloty
1 Philippine Peso = 111.06893 Paraguayan Guarani
1 Philippine Peso = 0.07275 Qatar Rial
1 Philippine Peso = 0.08271 Romanian New Leu
1 Philippine Peso = 1.1388 Russian Rouble
1 Philippine Peso = 16.36144 Rwanda Franc
1 Philippine Peso = 0.07493 Saudi Arabian Riyal
1 Philippine Peso = 0.15666 Solomon Islands Dollar
1 Philippine Peso = 0.27063 Seychelles Rupee
1 Philippine Peso = 0.13306 Sudanese Pound
1 Philippine Peso = 0.17603 Swedish Krona
1 Philippine Peso = 0.02788 Singapore Dollar
1 Philippine Peso = 0.01547 St Helena Pound
1 Philippine Peso = 0.44368 Slovak Koruna
1 Philippine Peso = 148.85115 Sierra Leone Leone
1 Philippine Peso = 10.96903 Somali Shilling
1 Philippine Peso = 447.57244 Sao Tome Dobra
1 Philippine Peso = 0.17427 El Salvador Colon
1 Philippine Peso = 10.28931 Syrian Pound
1 Philippine Peso = 0.26494 Swaziland Lilageni
1 Philippine Peso = 0.69131 Thai Baht
1 Philippine Peso = 0.04823 Tunisian Dinar
1 Philippine Peso = 0.04623 Tongan paʻanga
1 Philippine Peso = 0.07099 Turkish Lira
1 Philippine Peso = 0.13406 Trinidad Tobago Dollar
1 Philippine Peso = 0.60376 Taiwan Dollar
1 Philippine Peso = 44.53547 Tanzanian Shilling
1 Philippine Peso = 0.52997 Ukraine Hryvnia
1 Philippine Peso = 72.76723 Ugandan Shilling
1 Philippine Peso = 0.01998 United States Dollar
1 Philippine Peso = 0.56084 Uruguayan New Peso
1 Philippine Peso = 73.94606 Uzbekistan Sum
1 Philippine Peso = 0.19929 Venezuelan Bolivar
1 Philippine Peso = 454.32568 Vietnam Dong
1 Philippine Peso = 2.15265 Vanuatu Vatu
1 Philippine Peso = 0.05182 Samoa Tala
1 Philippine Peso = 11.97263 CFA Franc (BEAC)
1 Philippine Peso = 0.05395 East Caribbean Dollar
1 Philippine Peso = 12 CFA Franc (BCEAO)
1 Philippine Peso = 2.17123 Pacific Franc
1 Philippine Peso = 4.99201 Yemen Riyal
1 Philippine Peso = 0.26515 South African Rand
1 Philippine Peso = 103.68632 Zambian Kwacha
1 Philippine Peso = 7.23077 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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