Indian companies explore trade and investment opportunities with PH

The Philippine Trade and Investment Center (PTIC) – New Delhi of the Department of Trade and Industry (DTI) recently held a business round table discussion with top Indian companies to explore trade and investment opportunities in the Philippines last July 7, 2016 at the PHD House, New Delhi, India.

Participated in by 70 Indian businessmen and key industry players, the event was jointly organized with the PHD Chamber of Commerce and Industry. It aimed to explore more business opportunities between India and the Philippines in priority key sectors such as information communication technology (ICT), automotive, agriculture, energy, and chemicals. Some emerging sectors such as pharmaceuticals, electronics and high-end furniture were also highlighted during the discussion.

Among the prominent speakers who delivered successful case studies and testimonials about Philippine-India joint ventures were Sandeep Tewari, Vice President of Field Fresh Pvt. Ltd, a leading food and fruit juice processing company in India with joint venture with Del Monte Philippines and Manoj Sahai, General Manager for Strategic Sales of the global multinational Tata Consultancy Services (TCS). Sahai emphasized the promotion of the Philippines as a top destination for Indian IT companies for those thinking to establish alternative delivery centers. Tata Consultancy Services is India’s number one IT services firm with a revenue turn-over of $16.4 Billion in 2016, with a market capitalization of US$ 80 Billion. TCS operates global delivery centers in the Philippines with about 4,500 employees.

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Investments registered with BOI doubles in first sem of 2016, reaches P186.51B vs. P92B in 2015

Investments registered with the Philippine Board of Investments (BOI) doubled in the first six months of 2016, reaching P186.51 Billion, or higher by 103% from the P92.02 billion posted in the same period last year.

Infographics BOI Approved Investments JantoJune 2016 copyAs the numbers already cover May and June, the growth is indicative of continued investor confidence as the country transitions to the Administration of President Rodrigo Duterte. “Sustained impressive investment performance validates the announced economic policy direction of the new administration” said Trade Secretary Ramon Lopez. BOI-approved investments in June 2016 grew by 254% compared with same month of the previous year. Secretary Lopez further said, “The challenge is ensuring that these investments benefit the poorest of the poor. The administration will be embarking on measures to make investments more inclusive through, among others, providing linkages with Micro, Small and Medium Enterprises (MSMEs), to the agricultural sector, and to the marginalized geographic regions.”

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Game Development Philippines eyes to corner sizeable portion of $18.4-B European games industry market, to participate at GAMESCOM 2016 in Germany

The Philippines is stepping up efforts in carving a sizeable niche of the estimated US$18.4 billion European games industry market and in further promoting the country as an investment destination of choice in the games-related services sector for international game development companies as the country’s industry players are set to participate at the GAMESCOM 2016 in Cologne, Germany next month.

Showcasing their games-related services and products to international companies at GAMESCOM include Altitude Games, GameOps Inc., Job and Esther Technologies, Inc., Synergy88 Digital Inc., Transcom, and Zeenoh.

The industry players’ participation in the international event is organized by the Philippine Board of Investments (BOI) through its International Investments Promotion Service jointly with the Philippine Trade and Investment Center in Berlin and the Games Development Association of the Philippines (GDAP).

Slated on August 17 to 21, Gamescom is Europe’s largest platform for the European computer and video game industry. It is organized by the Federal Association of Interactive Entertainment Software, bringing together developers, publishers and other stakeholders to showcase their upcoming games and game-related hardware and to promote business and collaboration. Measured by exhibition space and number of visitors, last year’s edition gathered over 345,000 visitors and 700 exhibitors from 88 countries.

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DTI: PEDP 2015-2017 strategies to help exporters

The result of the recent survey conducted by International Trade Centre (ITC) which showed close to three-quarters of exporters and importers in the Philippines suffer from non-tariff measures (NTMs) is a clear validation of the findings of the Export Development Council (EDC) led by the Department of Trade and Industry. The survey specifically reported that most exporting and importing companies in the Philippines face difficulties in complying with foreign technical requirements and conformity assessment procedures which are often followed in developed countries. Some also experience unnecessary costs and delays in domestic institutions when processing required documents.

DTI sees strategies included in the Philippine Export Development Plan (PEDP) 2015-2017 as instrumental in addressing exporters’ and importers’ concerns on the said results.

“DTI has been in the forefront of streamlining processes for our exporters and importers. For the past six months, we have been active in addressing exporters’ concern specifically to shorten the processing time and administrative requirements. We have been pushing for legislative priorities for the 17th Congress, especially for transport and logistics to have a more competitive export industry. Strategy #2 of the PEDP 2015-2017, which states the removal of the unnecessary regulatory impediments to the movement of goods and delivery of services, hopefully, will be instrumental in addressing these concerns,” said Nora K. Terrado, Undersecretary for Industry Promotion Group.

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