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Philippines Digest – 6 Aug

Here you can find some interesting startup news around Philippines, not only in its capital, Manila, but also other their startup hubs such as Cebu, General Santos City, Pasay, Quezon City, and many more.

(1) In the past eight years, despite government efforts to curb tobacco consumption, the value of tobacco production has actually increased by 20 percent in the past eight years. From an estimated 74 million kilos in the 2010 cropping season, production has increased to about 77 million kilos in 2011, and is expected to further increase to 80 million kilos in 2012, data from the NTA showed.

(2) To promote the propagation of onions, the Department of Agriculture-Philippine Center for Post-harvest Development and Mechanization (DA-PhilMech) has identified four provinces that will be given onion storage facilities as part of the government’s thrust to reduce post-harvest losses in high value commercial crops.

(3) Leading petroleum franchise brand, Phoenix Petroleum, announced that its net income for the second quarter of the year is down by 35 percent. In a statement submitted to the Philippine Stock Exchange, Phoenix Petroleum said that its income was trimmed by as much as P65 million (US$1.53 million). In the first quarter of the year, the petroleum firm posted a P185 million (US$4.35 million) net income while the second quarter only generated P120 million (US$2.82 million).

(4) The Department of Trade and Industry (DTI) and the Department of Labor and Employment (DOLE) are training overseas Filipino workers to become entrepreneurs and exporters, saying this will not only improve the lives of the Filipinos but it will also help strengthen the country’s economy.

(5) Marikina City, famous for being the country’s shoe capital, will cut taxes for new and existing shoe and leather businesses as part of its efforts to help the industry. The new ordinance will slash taxes for start-up footwear and leather goods businesses. Business tax upon license application will be waived for new shoe and leather businesses during the first year of operation.

(6) Businesses that want to set up shop in the Ortigas Business District will have to contend with limited new office space compared to Makati and Bonifacio Global City. The area remains attractive for companies because of its proximity to major residential areas in the city and accessibility to public transportation.

(7) The Asia Society, a renowned international organization based in New York that aims to strengthen understanding among the peoples of the Asia Pacific region, has selected nine Filipinos to be part of this year’s batch to the Asia 21 Young Leaders program. Joy Anya Lim, a social entrepreneur from Cebu, founded Anthill Fabric Gallery which promotes cultural preservation of the Philippines’ weaving industry.

(8) Globe Telecom partnered with the Department of Trade and Industry (DTI) to help promote growth and development for small and medium-scale enterprises (SMEs). Initially, Globe, through Globe Business, the company’s enterprise, corporate and SME unit, joined forces with the DTI’s Bureau of Micro, Small and Medium Enterprise Development (DTI-BSMED) for the 2011 SME Summit.

(9) The idea for Barong Batik, an apparel companythat fuses two cultures into one product, came to Jakarta-based Filipino entrepreneur and artist Freddy Mercado and his partner, Thelma Victorio, when they witnessed the painstaking process of creating batik in a mall.

(10) It may look like an ordinary backpack with several pockets, but the Rescue 72 grab-and-go bag may be the ultimate must-have when it comes to disaster preparedness. Designed by Filipino entrepreneur Danvic Briones, the bag is a wearable survival kit that doubles as a life vest. Briones said it can carry up to 30 — even 50 — pounds of personal belongings.

(11) To facilitate deliberations on the proposed P1.8- trillion (US$42 million) national budget for 2012 and ensure its passage before the Christmas break, the Senate will start its own hearings on the budget next week, Sen. Franklin Drilon said.

We thank nordicfactory for the flag image.



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