ECCP at Work

Garin takes oath as new DOE secretary
Sharon Garin took her oath of office as secretary of the Department of Energy (DOE) before President Ferdinand Marcos Jr. in Malacañang on Monday.

BOI H1 investment approvals surge 165% on-yr
The Board of Investments (BOI) approved P15.02 billion worth of manufacturing projects from January to June 2025, an increase of 165 percent from P10 billion a year earlier. The approved investments would support 14 projects with a potential to create 5,725 jobs, the BOI said.

DA orders stakeholders consultations on RICE bill as palay prices decline
Agriculture Secretary Francisco Tiu Laurel Jr. has ordered officials overseeing the National Rice Industry Development Program (NRIDP) to consult with farmers and lawmakers on the Rice Industry and Consumer Empowerment (RICE) bill, as farmgate prices of palay decline.

Loans to MSMEs still below quota
Loans extended by banks to micro, small and medium enterprises (MSMEs) rose in the first quarter but still fell short of the mandated credit allocation under the law, the Bangko Sentral ng Pilipinas said.

NGCP still studying ERC rate reset decision
The National Grid Corp. of the Philippines (NGCP) said it is still studying the decision of the Energy Regulatory Commission (ERC) on its fourth regulatory period rate reset spanning 2016 to 2022.

Stricter gambling payment rules eyed
The central bank posted a draft circular on its website which aims to establish regulations on online gambling payment services.

PSE hikes capital-raising target to over P186 billion this year
The Philippine Stock Exchange, Inc. (PSE) once again raised its target for capital raising this year, as the stock market operator now expects the amount to reach over P186 billion.

SEC affirms ‘deemed approved’ status of applications if processing timelines missed
In Memorandum Circular (MC) No. 7, issued on July 10, the SEC said in the absence of written notice of delay or deficiency, pending applications or requests for a license, permit, certification, accreditation, or authorization will be considered approved if the commission fails to act within the prescribed period.

GOCC subsidies down nearly 19% in May
Subsidies provided to government-owned and -controlled corporations (GOCCs) fell 18.73% year on year in May to P7.92 billion, the Bureau of the Treasury (BTr) said. The Treasury reported that month on month, May subsidies dropped 45.57% from April.

BIR, LANDBANK offer easier foreign DSP VAT payments
The Bureau of Internal Revenue (BIR) and the Land Bank of the Philippines (LANDBANK) said they signed an agreement to streamline the payment of value-added tax (VAT) by foreign digital service providers (DSPs).

30 manufacturing projects in the works
The Board of Investments (BoI) said that it is currently evaluating applications for 30 manufacturing projects which have a total cost of P33.54 billion.

Experts say Philippines now ‘back on the radar’ of Taiwanese firms
Taiwanese companies are looking to set up shop in the Philippines as the country faces a US tariff that is lower than most of its Southeast Asian neighbors, according to analysts. This as Taiwan expects further deepening of ties with the Philippines, a Ministry of Foreign Affairs (MoFA) official said.

Philippines ready for tariff talks with US this week
The Philippine government is hopeful that it can still negotiate for a lower US tariff rate ahead of the Aug. 1 deadline as President Ferdinand R. Marcos, Jr. heads to the US next week.

Marcos dares Caticlan contractors to complete terminal in 18 months
President Ferdinand R. Marcos, Jr., proposed an 18-month accelerated timeline for completing the new passenger terminal at Caticlan airport in Aklan province, instead of the contracted 24 months.

Palay average farmgate price falls 31.8% in June
The average farmgate price of palay (unmilled rice) fell 31.8% year on year in June to an average of P16.99 per kilo, the Philippine Statistics Authority (PSA) said. Month on month, the average palay farmgate price fell 4.3% compared to May, the PSA said in a report.

SRA may tap fungus to keep sugarcane pest under control
The Sugar Regulatory Administration (SRA) said it is considering turning to a fungus that is a natural enemy of the red striped soft-scale insect (RSSI) to curb the sugarcane pest.