ECCP at Work

ECCP seeks action on unlicensed crypto
Filipino regulators should crack down on unlicensed cryptocurrency platforms that are acting as a financial lifeline for organized crime, according to Dr. Reyner M. Villaseñor, co-chair of the ECCP ICT Committee.

Marcos orders GOCC heads to quit
President Ferdinand R. Marcos, Jr. has ordered the heads of state-owned companies to quit, a week after a similar order on his Cabinet secretaries that some see as an attempt to salvage whatever political capital he has left during the second half of his single six-year term.

New FDA chief urges suspension of new regulatory fees
The FDA has urged the DOH to approve the immediate suspension of an order increasing the regulatory fees for registration and certification of health products amid complaints by the private sector and an ongoing investigation by the House of Representatives.

PHL, Indonesia lagging region in decarbonization efforts — WB
The Philippines and Indonesia are falling behind in the effort to decarbonize East Asia and the Pacific due to their continued reliance on dirty energy, the World Bank (WB) said in a report.

Strong AI governance may drive value creation for PHL businesses
Philippine companies must prioritize crafting governance frameworks for artificial intelligence (AI) use to effectively reap these technologies’ benefits while managing potential risks, according to the country’s telecommunication giants.

Agri council tightens noose on economic saboteurs
The Anti-Agricultural Economic Sabotage Council (AAESC) is strengthening its enforcement guidelines in a bid to catch the “big fish.SAPIEA Frederick Go said the guidelines would focus on dismantling major syndicates and economic saboteurs that manipulate markets and unfairly drive up prices.

NG posts P67.3-B surplus in April
Data from the Treasury posted a P67.3-billion surplus in April, a turnaround from the P375.73-billion deficit in March. This was the first budget surplus since the P68.36-billion surplus in January.

Amendments to AMLA sought
The Anti-Money Laundering Council (AMLC) is pushing amendments to the Anti-Money Laundering Act as part of its next steps to ensure the country stays out of the Financial Action Task Force’s (FATF) “gray list.”

Nuclear push to gain steam as Garin takes over at DOE
The country’s ambitious goal to energize homes with nuclear power is likely to gain further momentum following a major leadership change at the Department of Energy (DOE).

Higher tariff collections boost fund for rice farmers to P34 billion
Rice farmers will receive over P34 billion in support under the government’s rice competitiveness enhancement fund (RCEF) this year as tariff collections last year surged to a record high.

ADB set to approve $400-M PHL loan for ‘blue economy’
The Asian Development Bank (ADB) on Tuesday said it is set to approve this year a new $400-million loan for the Philippines, which would fund efforts to boost the country’s marine ecosystem and “blue economy.”

PH launches new roadmap on food, gastronomy tourism
The Philippine government on Wednesday formally launched a roadmap to position the country as a top food and gastronomy destination in Southeast Asia by 2029. The Food and Gastronomy Tourism Strategic Framework and Roadmap 2024-2029 will help map out so-called “culinary zones” in key destinations such as Metro Manila, Pampanga, Cebu and Iloilo, among others.

DoE eyes power access in 167 areas via third microgrid auction
The Department of Energy (DoE) said it hopes to provide electricity to 167 unserved and underserved areas through the third round of bidding for microgrid system providers (MGSPs).

Philippine rice imports fall as harvest barely rises
The importation of milled rice to the Philippines slowed down as of late May. This was observed as local production of palay or unmilled rice slightly increased in the first quarter of this year.

Marcos bats for unified ASEAN stance vs tariffs
Members of the Association of Southeast Asian Nations (ASEAN) may have to depend on each other more in the face of the United States’ unilateral tariffs that could shrink markets and dampen economic activity, President Marcos said.

DOTr confirms plan to bid out 6 airports before mid-2028
The Department of Transportation (DOTr) confirmed plans to bid out six airports as public-private partnership projects to support President Ferdinand Marcos Jr.’s efforts to expand and modernize the country’s gateway system.

DA eyes reinstating MSRP for pork as early as end-July
The Department of Agriculture (DA) is looking at reinstating the maximum suggested retail price (MSRP) for pork as early as end-July.

Filipino firms spending more on cybersecurity
Filipino companies are allocating bigger budgets for cybersecurity measures to fend off hackers attempting to infiltrate their information technology (IT) systems, signifying heightened awareness of the need to strengthen firewalls , according to a study by Palo Alto Networks.

Government tightens lid on Agricultural smuggling
The government, through the Anti-Agricultural Economic Sabotage (AAES) Council, is ramping up its campaign against major smugglers as it adopted enforcement rules to protect farmers, fisherfolk and consumers.