PEZA guidelines on pharmazones to boost investment, lower drug prices;
PH economy likely to perform well despite political noise;
Doubledragon pledges P18.2-M for informal workers' SSS contribution
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PH economy likely to perform well despite political noise;
Doubledragon pledges P18.2-M for informal workers' SSS contribution
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NewsTranscript
00:00In other news, the Philippine Economic Zone Authority, or PESA, has released new guidelines
00:04on pharma zones, aiming to attract more investments and reduce drug prices.
00:09Meanwhile, the Philippine economy is expected to perform well despite ongoing political
00:15tensions.
00:16These and more in tonight's Business Wrap from the Philippine News Agency.
00:29Moving on to our Market Wrap, the Philippine Economic Zone Authority has issued guidelines
00:35for establishing and registering pharma zones, or pharmaceutical zones, which will serve
00:41as hubs for companies involved in medical and drug manufacturing.
00:46The guidelines, approved by the PESA Board, chaired by Trade Secretary Maria Cristina
00:51Roque in February, outline incentives for pharma zone developers, operators, and registered
00:58business enterprises.
01:01PESA Director General Terezo Panga said the proposed pharma zones will serve to attract
01:06investments, advance technology, lower prices, and boost local production and jobs, enhancing
01:13the Philippines' role in the global pharmaceutical market.
01:16Meanwhile, Rizal Commercial Banking Corporation Chief Economist Michael Ricaforte predicts
01:22that the Philippine economy will improve this year.
01:26Despite the political noise, geopolitical threats, and tariff wars, Ricaforte said the
01:32impact of former President Rodrigo Duterte's arrest on March 11 is minimal.
01:37He said the process could send positive signals on respect for the rule of law and institutions.
01:44He added that the country's strong economic fundamentals continue to allow government
01:48efforts to attract investors.
01:51Meanwhile, Ricaforte emphasized that U.S. President Donald Trump's protectionist policies
01:56pose a bigger risk to economic growth.
01:59He said strict immigration rules may impact overseas Filipino workers' remittance, which
02:05could affect global trade, investment, and employment.
02:10In other news, Double Dragon Corporation has pledged Php18.2 million to subsidize 12 months
02:16of SSS contributions for 2,000 informal workers in Iloilo and Rojas City.
02:23Double Dragon formally signed a Memorandum of Agreement to register as a Contribution
02:29Subsidy Provider through the SSS Contribution Subsidy Provider Program.
02:34The program aims to encourage government entities and business to support Filipino workers.
02:40Social Security System President and CEO Robert DeClaro said that the SSS Contribution Subsidy
02:46will support the 2,000 informal workers and their families by allowing them to become
02:51SSS members.
02:54And that's the latest business news from the Philippine News Agency.
02:59This is Marita Muahe for Balitang Pambansa.