PTIC – Singapore Urges Singaporeans to Invest in Philippine Real Estate

Manufacturing, construction and tourism are key growth drivers of the Philippine real estate industry.

“The demand for office space because of the continuous growth of the Information Technology-Business Process Outsourcing industry has also revved up the construction projects, specifically integrated mixed-use developments,” said Philippine Trade & Investment Centre-Singapore Commercial Counsellor Glenn Peñaranda at the recent Philippine Property Investment Opportunities seminar held in Singapore.

Organized by Propnex Realty Pte Ltd, the seminar provided Filipino and Singaporean investors, agents, and buyers, guidelines on investing, filing for bank loan and maximizing the Singaporean dollar in buying properties overseas. Low interest rates and positive feedback from investors contribute as well to the bullish performance of the industry.

Commercial Counsellor Peñaranda shared that the continuous inflow of foreign exchange boosts investments in housing, renovations and condominiums. Record remittances finance consumer spending powering the boom in the retail sector. Demand for tenants within malls continues to be at its peak, encouraging developers to pursue new projects.

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The Philippines at the forefront of landmark IT trade deal

The World Trade Organization (WTO) has eliminated the tariffs on a total of 201 products being manufactured under the information technology sector. The abolishment follows an accord reached by 54 WTO members last July 18, and was confirmed in a meeting held last July 24 at the WTO headquarters in Geneva, Switzerland.

Officials of the Department of Trade and Industry hailed the accord, which they said will greatly benefit the Philippines, Trade of IT products have been pegged at a hefty US$1.3 million, according to DTI Undersecretary Adrian Cristobal. “Philippine trade of these products in 2013 amounted to US$ 26Billion, with exports reaching more than US$14 billion,” he said.

Among the products covered under this accord are new generation semiconductors, static converters, video games, and parts of automated electronic component machines of which the Philippines happens to be part of the regional and global production chains.

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PTIC Beijing at China PECC-hosted seminar, with theme “Build An Inclusive Economy and Build A Better World: Asia-Pacific New Type of Urbanisation Construction, Interconnection and Regional Cooperation

The Philippine Trade and Investment Centre in Beijing was invited to share important developments in the Philippines-China commercial relations and; second, Asia-Pacific regional cooperation with the Philippines as host of APEC 2015 championing the SME agenda, on the occasion of a Seminar hosted by China National Committee for Pacific Economic Cooperation (China PECC).

Philippines-China Commercial Relations In terms of trade, China is the Philippines' third largest export destination, taking in some 12% of our total exports in 2014. Per Chinese statistics, within ASEAN the Philippines ranked as the second fastest growing trading partner of China in 2014. Major items traded primarily come from mining, semiconductor and electronics, and related sectors at varying degrees of value-added content.

With regard to investments, historically, China’s investments in the Philippines have been in the area of mining and extractive industry. In the last two years, statistics suggest that Chinese investments in the Philippines have started to diversify particularly in manufacturing either for export or domestic market. This may be attributed to the recent inclusion of the Philippines as the newest recipient of EU GSP+, which now allows the export of over 6,200 tariff lines at zero percent.

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Push for startups in PH


Push for startups in PH. Department of Trade and Industry (DTI) Undersecretary Nora K. Terrado (center) together with Foreign Trade Service Officers (FTSC) Michael Alfred V. Ignacio (left) and Enrico A. Mariano (right) join (from left) IdeaSpace Founder and President Earl Martin Valencia, Start Up Chile Founder Nicholas Shea, Stanford University US- Asia Technology Management Center Director Richard Dasher, KickstartVentures Co-Founder and President Minette Navarrete, Golde Gate Ventrures Principal Justin Hall, and Air Bnb Southeast Asia and India Managing Director Jia Jih Chai in a press conference of the Slingshot MNL on July 7, 2015 at the Philippine International Convention Center (PICC) in Pasay City. The Slingshot MNL intends to make stakeholders of the country’s startup ecosystem understand how the startup business model can drive economies in the Asia-Pacific region, as well as establish ties with forward-looking investors. It gathered 1000 stakeholders. Together with startup stakeholders, the DTI worked to deliver its mandate for trade and investment promotion in the context of inclusive growth and consistent with Asia-Pacific Economic Cooperation (APEC) commitments. (DTI-PRU)

DTI backs ASEAN-ROK strategic partnership

With the full integration of the Association of Southeast Asian Nations (ASEAN) Economic Community this year, the Department of Trade and Industry (DTI) commits to the ASEAN – Republic of Korea (ROK) strategic partnership’s vision on global and regional community that builds and enhances trust among its members.

In his message read by Board of Investments (BOI) Director Angelica M. Cayas during the 1st Korea – ASEAN Grand Project Partnership Forum, DTI Undersecretary Ponciano C. Manalo, Jr. commended the Korean business community for its vital role and contribution not only to our country’s economy but to ASEAN.

“South Korea’s active support in the creation of the ASEAN Economic Community has certainly been favorable as we endeavor to increase connectivity and address common challenges in the region,” Manalo said.

He cited that one of these challenges is the attainment of inclusive growth, where development generates employment and reduces poverty if sustained.

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