July 18, 2018, 12:16 pm
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1 Philippine Peso = 0.06864 UAE Dirham
1 Philippine Peso = 2.00897 Albanian Lek
1 Philippine Peso = 0.03439 Neth Antilles Guilder
1 Philippine Peso = 0.50824 Argentine Peso
1 Philippine Peso = 0.02516 Australian Dollar
1 Philippine Peso = 0.03326 Aruba Florin
1 Philippine Peso = 0.03738 Barbados Dollar
1 Philippine Peso = 1.56345 Bangladesh Taka
1 Philippine Peso = 0.03139 Bulgarian Lev
1 Philippine Peso = 0.00707 Bahraini Dinar
1 Philippine Peso = 32.72248 Burundi Franc
1 Philippine Peso = 0.01869 Bermuda Dollar
1 Philippine Peso = 0.02526 Brunei Dollar
1 Philippine Peso = 0.1282 Bolivian Boliviano
1 Philippine Peso = 0.07195 Brazilian Real
1 Philippine Peso = 0.01869 Bahamian Dollar
1 Philippine Peso = 1.282 Bhutan Ngultrum
1 Philippine Peso = 0.19138 Botswana Pula
1 Philippine Peso = 374.13568 Belarus Ruble
1 Philippine Peso = 0.03734 Belize Dollar
1 Philippine Peso = 0.02459 Canadian Dollar
1 Philippine Peso = 0.01871 Swiss Franc
1 Philippine Peso = 12.14969 Chilean Peso
1 Philippine Peso = 0.12502 Chinese Yuan
1 Philippine Peso = 53.37133 Colombian Peso
1 Philippine Peso = 10.54401 Costa Rica Colon
1 Philippine Peso = 0.01869 Cuban Peso
1 Philippine Peso = 1.76603 Cape Verde Escudo
1 Philippine Peso = 0.4139 Czech Koruna
1 Philippine Peso = 3.31714 Djibouti Franc
1 Philippine Peso = 0.11919 Danish Krone
1 Philippine Peso = 0.92375 Dominican Peso
1 Philippine Peso = 2.19884 Algerian Dinar
1 Philippine Peso = 0.25015 Estonian Kroon
1 Philippine Peso = 0.3334 Egyptian Pound
1 Philippine Peso = 0.51037 Ethiopian Birr
1 Philippine Peso = 0.01599 Euro
1 Philippine Peso = 0.03902 Fiji Dollar
1 Philippine Peso = 0.01411 Falkland Islands Pound
1 Philippine Peso = 0.01412 British Pound
1 Philippine Peso = 0.08949 Ghanaian Cedi
1 Philippine Peso = 0.88526 Gambian Dalasi
1 Philippine Peso = 168.36105 Guinea Franc
1 Philippine Peso = 0.13998 Guatemala Quetzal
1 Philippine Peso = 3.87012 Guyana Dollar
1 Philippine Peso = 0.14665 Hong Kong Dollar
1 Philippine Peso = 0.44715 Honduras Lempira
1 Philippine Peso = 0.11858 Croatian Kuna
1 Philippine Peso = 1.25939 Haiti Gourde
1 Philippine Peso = 5.1596 Hungarian Forint
1 Philippine Peso = 268.604 Indonesian Rupiah
1 Philippine Peso = 0.06791 Israeli Shekel
1 Philippine Peso = 1.27993 Indian Rupee
1 Philippine Peso = 22.12671 Iraqi Dinar
1 Philippine Peso = 807.13885 Iran Rial
1 Philippine Peso = 2.0015 Iceland Krona
1 Philippine Peso = 2.42478 Jamaican Dollar
1 Philippine Peso = 0.01324 Jordanian Dinar
1 Philippine Peso = 2.09923 Japanese Yen
1 Philippine Peso = 1.87722 Kenyan Shilling
1 Philippine Peso = 1.27646 Kyrgyzstan Som
1 Philippine Peso = 75.63072 Cambodia Riel
1 Philippine Peso = 7.88806 Comoros Franc
1 Philippine Peso = 16.81929 North Korean Won
1 Philippine Peso = 21.08952 Korean Won
1 Philippine Peso = 0.00566 Kuwaiti Dinar
1 Philippine Peso = 0.01532 Cayman Islands Dollar
1 Philippine Peso = 6.39993 Kazakhstan Tenge
1 Philippine Peso = 157.01738 Lao Kip
1 Philippine Peso = 28.13493 Lebanese Pound
1 Philippine Peso = 2.97982 Sri Lanka Rupee
1 Philippine Peso = 2.97197 Liberian Dollar
1 Philippine Peso = 0.24762 Lesotho Loti
1 Philippine Peso = 0.05697 Lithuanian Lita
1 Philippine Peso = 0.0116 Latvian Lat
1 Philippine Peso = 0.02562 Libyan Dinar
1 Philippine Peso = 0.17688 Moroccan Dirham
1 Philippine Peso = 0.31088 Moldovan Leu
1 Philippine Peso = 0.98075 Macedonian Denar
1 Philippine Peso = 26.55578 Myanmar Kyat
1 Philippine Peso = 45.74846 Mongolian Tugrik
1 Philippine Peso = 0.15104 Macau Pataca
1 Philippine Peso = 6.63427 Mauritania Ougulya
1 Philippine Peso = 0.6382 Mauritius Rupee
1 Philippine Peso = 0.29097 Maldives Rufiyaa
1 Philippine Peso = 13.33283 Malawi Kwacha
1 Philippine Peso = 0.35287 Mexican Peso
1 Philippine Peso = 0.07569 Malaysian Ringgit
1 Philippine Peso = 0.24767 Namibian Dollar
1 Philippine Peso = 6.69034 Nigerian Naira
1 Philippine Peso = 0.58456 Nicaragua Cordoba
1 Philippine Peso = 0.15155 Norwegian Krone
1 Philippine Peso = 2.04691 Nepalese Rupee
1 Philippine Peso = 0.02764 New Zealand Dollar
1 Philippine Peso = 0.00719 Omani Rial
1 Philippine Peso = 0.01869 Panama Balboa
1 Philippine Peso = 0.06103 Peruvian Nuevo Sol
1 Philippine Peso = 0.06077 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.27135 Pakistani Rupee
1 Philippine Peso = 0.06898 Polish Zloty
1 Philippine Peso = 106.5969 Paraguayan Guarani
1 Philippine Peso = 0.06802 Qatar Rial
1 Philippine Peso = 0.07424 Romanian New Leu
1 Philippine Peso = 1.1686 Russian Rouble
1 Philippine Peso = 15.92992 Rwanda Franc
1 Philippine Peso = 0.07008 Saudi Arabian Riyal
1 Philippine Peso = 0.14699 Solomon Islands Dollar
1 Philippine Peso = 0.25089 Seychelles Rupee
1 Philippine Peso = 0.33555 Sudanese Pound
1 Philippine Peso = 0.16567 Swedish Krona
1 Philippine Peso = 0.02551 Singapore Dollar
1 Philippine Peso = 0.01412 St Helena Pound
1 Philippine Peso = 0.41499 Slovak Koruna
1 Philippine Peso = 153.24238 Sierra Leone Leone
1 Philippine Peso = 10.65221 Somali Shilling
1 Philippine Peso = 391.8333 Sao Tome Dobra
1 Philippine Peso = 0.16352 El Salvador Colon
1 Philippine Peso = 9.624 Syrian Pound
1 Philippine Peso = 0.24803 Swaziland Lilageni
1 Philippine Peso = 0.62213 Thai Baht
1 Philippine Peso = 0.04953 Tunisian Dinar
1 Philippine Peso = 0.04334 Tongan paʻanga
1 Philippine Peso = 0.09042 Turkish Lira
1 Philippine Peso = 0.12621 Trinidad Tobago Dollar
1 Philippine Peso = 0.57118 Taiwan Dollar
1 Philippine Peso = 42.3846 Tanzanian Shilling
1 Philippine Peso = 0.48981 Ukraine Hryvnia
1 Philippine Peso = 69.93085 Ugandan Shilling
1 Philippine Peso = 0.01869 United States Dollar
1 Philippine Peso = 0.58568 Uruguayan New Peso
1 Philippine Peso = 145.44945 Uzbekistan Sum
1 Philippine Peso = 2236.96505 Venezuelan Bolivar
1 Philippine Peso = 430.74192 Vietnam Dong
1 Philippine Peso = 2.06036 Vanuatu Vatu
1 Philippine Peso = 0.04858 Samoa Tala
1 Philippine Peso = 10.48103 CFA Franc (BEAC)
1 Philippine Peso = 0.05046 East Caribbean Dollar
1 Philippine Peso = 10.48103 CFA Franc (BCEAO)
1 Philippine Peso = 1.90563 Pacific Franc
1 Philippine Peso = 4.66922 Yemen Riyal
1 Philippine Peso = 0.24782 South African Rand
1 Philippine Peso = 96.98187 Zambian Kwacha
1 Philippine Peso = 6.76322 Zimbabwe dollar

Views on Investments and Industry Development

By Undersecretary Adrian Cristobal Jr., DTI
 
Investments Outlook for 2015

With a growth forecast of 6.4%, the highest among the Association of Southeast Asian Nations-6 (Asean-6) member states, investments in key sectors will continue to flow into the country as the Philippine economy maintains its robust expansion this year.

The country’s performance, buoyed by consistent investment upgrades from five international credit ratings agencies, reaffirmed its status as “Asia’s Bright Spot” or the “New Asian Tiger,” among emerging economies in the region.

International organizations and publications have likewise affirmed the Philippine’s enhanced standing evidenced by their latest rankings.

The latest World Economic Forum’s (WEF) Global Competitiveness Rankings placed the country at the 52nd spot, an increase which the WEF considered the largest gain over that period among all rated countries.

The Heritage Foundation’s Index of Economic Freedom placed the country at the 89th position, an improvement of 8 points from the previous year.

The World Bank (WB) and International Finance Corporation (IFC) affirmed the remarkable improvement on the country’s “Doing Business” scorecard. The Philippines, declared as one of the 10 countries which registered the biggest strides in business regulation, leaped from the 108th in the previous year to 95th place, a notable improvement of 13 notches.

The continuing global investment sentiment for the Philippines will fuel its economy towards an investment-led growth with the manufacturing and services sectors serving as key growth drivers.
 
The Growth of the Manufacturing Industry

Manufacturing is expected to continue to lead the overall growth in the Industrial sector in 2015 with its share to total Gross Domestic Product (GDP) expected to rise steadily. Manufacturing accounted for 23.2 percent of total GDP, the biggest contributor among the industry sub-sectors in the first semester of 2014.

While growth in manufacturing over the last five years has been variable, the surge posted in 2013 was sustained in the first half of 2014, as it grew by 8.8 percent. Drivers of growth were publishing and printing (51.5%), fabricated metal products (49.4%), and machinery and equipment (47.0%)

In 2013, Manufacturing accounted for 3.2 million jobs, an estimated increase of 1.5% from the previous year. Manufacturing maintained this level of growth in job generation in the first semester of 2014.

To sustain this momentum, the Manufacturing Resurgence Program (MRP), a priority undertaking of the present administration, targets a 30% increase in Gross Value Added (GVA) and 15% increase in employment by 2025.

A major component of the MRP is the Manufacturing Industry Roadmap (MIR) developed by the DTI and the Board of Investments (BOI) in collaboration with stakeholders. The MIR identifies the required steps and interventions to address issues to further development. These include: Infrastructure and Logistics; Governance and Regulation; Supply and Value Chain Gaps; Domestic Market Base Expansion; SME Development; Human Resources; and Innovation.

The MIR will support the development of a Comprehensive National Industrial Strategy, the framework that coordinates the country’s efforts at industry upgrading and structural transformation to achieve sustainable and inclusive growth.

Industry Development Program

Initiated in 2012, the Industry Development Program (IDP) partnered with the private sector to develop sectoral roadmaps. The roadmaps identify relevant laws, regulations and policies that drive the development of the sector or industry, such as government support and incentives, existing programs for sector, latest technologies and trends, as well as relevant global and regional developments that could impact growth. Since then, about 30 industry roadmaps have been integrated into the broader MIR.

Government is an enabler and facilitator, coordinating with interested industry associations, partner agencies, members of the academe, and civil society organizations. The empirical data and the vast experience of stakeholders have helped put together the industry roadmaps. Each sectoral roadmap is different and at varying stages of maturity and as such provide vital inputs in the crafting of investment policies such as the annual Investment Priorities Plan (IPP), the country’s blueprint for investment promotions. Likewise the roadmaps have helped identify value-chain gaps to guide investments promotion and define government positions and strategies for trade and investment negotiations.

Since 2012, some 18 Technical Working Groups (TWGs) have been established and convened. These TWGs identify major policy reform issues, administrative bottlenecks, and concrete projects for implementation. The TWGs are composed of government and private sector stakeholders chaired by BOI sectoral and industry champions.

The Chemicals TWG was able to establish a research and innovation partnership with the UP Engineering Research and Development for Technology to strengthen the synergy between the sector and the academe. The TWG coordinated with the Food and Drugs Administration to streamline procedures for importation of chemical materials and agreed to deregulate bulk industrial chemicals used as raw materials in cosmetics. The chemicals industry association likewise entered into a Memorandum of Agreement with TESDA for skills identification and the development of a TESDA curriculum for the chemicals industry, specifically for laboratory technicians and plant production operators.

Of the 30 industry sectoral roadmaps, 25 have been finalized and 5 are in the draft stage. Some 21 more sectoral roadmaps are being developed and will be completed by early 2015. Completed roadmaps include the following: aerospace, automotive, automotive parts, biodiesel, cement, ceramic tiles, chemicals, copper and copper products, electric vehicles, electronics, furniture, iron and steel, IT-BPM, manufacturing, mass housing, metalcasting, motorcycles, natural health products, petrochemicals, plastics, pulp and paper, rubber products, and tool and die. The roadmaps for  bamboo, coco coir and creative industries are currently in development.
 
The Investments Priorities Plan

The 2014 IPP is a tool for industrial development and economic growth. It aims to attract investments that would fill gaps in the supply or value chain, boost sectors with latent or obvious competitive advantage, and offset market imperfections. Based on industry studies, plans and roadmaps, and after rigorous  analysis and consultations with stakeholders nationwide. The 2014 IPP now identifies specific economic activities which shall receive fiscal and non-fiscal incentives: Income Tax Holiday; Exemption from taxes and duties on imported spare parts; Exemption from wharfage dues and export tax, duty, impost and fees; Reduction of the Rates of Duty on Capital Equipment, Spareparts  and Accessories; Tax exemption on breeding stocks and genetic materials; Tax Credits; Additional deductions from Taxable

Income; Non-Fiscal Incentives; Employment of Foreign Nationals; Simplification of customs procedures; Importation of consigned equipment; Privilege to operate a bonded manufacturing warehouse.

Sources:

1. ADB Outlook 2014 Update, September 2014, Manila

2. BOI 2013 Annual Report

3. DTI Presentation –Mid Year Economic Briefing September 2014 at PICC

4. 2014 Investments Priorities Plan

5. DTI Up Beat September 2014

6  National Competitiveness Council

7. Investphilippines.gov.ph
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