Business News

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | Next   How to Export to the European Union?   | Aug 30, 2007 No File     Export Helpdesk for Developing Countries The Export Helpdesk is an online service, provided by the European Commission, to facilitate market access for developing countries to the European Union. This free and user friendly service provides the following information online: > On EU preferential import regimes for the benefit of developing countries. > On EU and Member States' import requirements as well as internal taxes applicable to products; It also includes specific sections on: > Trade data for the EU and its individual Member States; > A "Market Place" where exporters in developing countries can establish contacts with importers from the EU; > Links to EU and Member States authorities and international organizations involved in practical trade operations and trade promotion; > Possibility to lodge detailed information requests about real-life situations encountered by exporters. For more information, visit http://exporthelp.europa.eu     Source: European Union Delegation of the European Commission to the Philippines   NEDA CHIEF: “RP’S ECON GROWTH AT PAR WITH ASIAN COUNTRIES”   | May 7, 2007 No File     Socioeconomic Planning Secretary Romulo L. Neri said that the Philippines is growing at a respectable rate compared with its Asian neighbors, and not losing out to the economies of Vietnam, Cambodia, Laos, and Bangladesh as claimed by a May 4 advertisement in a daily newspaper. “To say that we are losing to Vietnam, Cambodia, Laos, and Bangladesh is plain wrong,” Neri said. He explained the flaw is that the argument does not consider the base. “The gross domestic product (GDP) growth rates tend to slow the larger the base,” said Neri, who is also the director-general of the National Economic and Development Authority (NEDA). Neri clarified that it would be much useful to compare the GDP level of the Philippines with that of the others. For example, the GDP of the Philippines is twice that of Vietnam, a country of roughly equal population size. The country’s GDP in 2006 is US$116.90 billion, as against that of Bangladesh (US$69.02 billion), Vietnam (US$48.26 billion), Cambodia (US$48.26 billion) and Laos (US$2.77 billion). The best index of comparison is GDP per capita in purchasing power terms or PPP, which refers to making adjustments for differences in prices across countries, the NEDA chief said. The CIA’s The World Factbook showed that the GDP per capita of the following countries were: Malaysia (US$12,700), Thailand (US$9,100), China (US$7,600), Philippines (US$5,000), Indonesia (US$3,800), Vietnam (US$3,100), Cambodia (US$ 2,600), Bangladesh (US$2,200) and Laos (US$2,100). “The Philippines is not at the top of the list, but neither is it the basket case that the advertisement tries to portray,” Neri noted. He added that the average GDP for 2001 to 2006 was pulled down by the political crisis of the last administration that led to People Power II. As a result of the crisis and the May 2001 rebellion, GDP growth in 2001 was only 1.8 percent. The economy recovered slowly, posting growth of 4.4 percent in 2002, and 4.9 percent in 2003. “It would be fairer to judge the economy minus the crisis hangover effect,” Neri said. The GDP growth rates were 6.2 percent in 2004, 5.0 percent in 2005, and 5.4 percent in 2006. “That averages 5.33 percent, which is respectable,” he said.     Source: Investor Relations Office NEDA   9 million job vacancies for Filipino workers until 2010   | Apr 26, 2007 No File     The Department of Labor and Employment projects that some four million job vacancies in the country will have to be filled between 2006 and 2010, while about five million overseas job offers will also be available to Filipinos in the same period. In view of this, the labor department concluded that there is actually no shortage of jobs for Filipinos, but rather a mismatch between workers’ skills and the labor market’s requirements. As of January, a total of 36.4 million workers were registered with the labor department. Of this total, 2.8 million (or 7.8%) were unemployed. Labor Secretary Arturo Brion explains that the skills and education of the workforce are not a good fit for the types of jobs being generated. One example cited by Brion is the mining sector, where many hard-to-fill jobs are found, such as geologists, mining engineers, and metallurgical engineers. The department is recommending an immediate re-examination of policies and standards in various course curricula to ensure the delivery of quality education and training of the country’s manpower.     Source: Makati Business Club Newsletter   A Sunrise Industry Shines Brightly   | Mar 14, 2007     An update on the BPO industry in the Philippines Once just a mini-industry with a handful of companies in the 1990s, the country’s business process outsourcing industry has swollen to all of 605 companies, and counting. It has the potential to generate 1.1 million new jobs and US$12.2 billion in revenue by end-2010. And this is no empty promise—the industry has proven its ability to sustain double-digit growth since its boom began in 2000. By: Karen B. Bitagun     Source: Makati Business Club Newsletter