Foreign Exchange ( FOREX)- USD- PHP

 12.02.2022

 USD-PHP X-RATE

56.1950

 https://www.bloomberg.com/quote/USDPHP:CUR

 

 

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July 19, 2021

 1.00 USD= 50.994483 PHP Philippine Pesos

Bagsak na bagsak ang pesos..so asahan na taas ng husto gasolina at meralco. huhuhu.. sa isang banda, pabor sa mga clients na electronics exporter at BPO.. mas madaming maeenganyo magtayo ng electronics factory sa Pinas.. mas madaming magkakawork..mas maraming magiging clients..

 

kaso yung profit margin mo, bagsak..aray ko po! pero at least mga clients mo natutuwa.. hahaha.. hirap mag-analize..bahala kayo dyan.. pag wala ka naman talaga magagawa sa isang bagay.. gawin mo nalang is mag-adjust.. #soldapullt

 

 1.00 USD =6.4874552 Chinese Yuan Renminbi CNY (RMB)

 1 JPY Japanese Yen = 0.46443617 PHP Philippine Pesos

 1.00 BGP British Pound =69.792959 PHP Philippine Pesos

 US Dollar to Philippine Peso conversion — Last updated Jul 19, 2021, 12:04 UTC

 

 

1/26/2009	1 USD = Php47.400	1 USD = 6.84970 CNY (RMB)
1/15/2014	1 USD= Php 44.5904	1 USD = 6.0459 CNY (RMB)
1/30/2019	1 USD = Php 52.3310	1 USD = 6.7134 CNY (RMB)
5/10/2021	1 USD = Php 47.8017	1 USD = 6.4315 CNY (RMB)

 

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May10, 2021

1 USD = Php 47.8017

1 USD = 6.4315 CNY (RMB)

1 JPY = 0.439418 PHP

========================

Jan. 30, 2019:

1 USD = Php 52.3310

1 USD = 6.7134 CNY (RMB)

========================

Jan. 15, 2014:

1 USD= Php 44.5904

1 USD = 6.0459 CNY (RMB)

========================

jan. 26, 2009:

1 USD = Php47.400
1 USD = 6.84970 CNY (RMB)

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source:

Bloomberg

https://www.xe.com/currencyconverter

Medical, pharma firms to set up shop in PH ecozones: PEZA

MANILA - A number of international medical and pharmaceutical firms will invest and will soon set up shop within the country's economic zones, an official said Wednesday. 

Due to the influx of investments in the field, the Philippine Economic Zone Authority (PEZA) has developed the country's first pharmaceutical ecozone called the First Bulacan Business Park in Malolos, City, PEZA director-general Charito Plaza told ANC. 

One firm will invest P571 million in the country while other Israeli and Indian pharmaceutical companies are in the process of getting their permits approved, she said.

"Coming in mostly medical are pharmaceutical companies. We are now asking these new investors on medical and pharmaceutical firms to prepare documents so we can approve this immediately in the PEZA board," Plaza said. 

"It’s a miracle on the side of PEZA because we never played hostage to COVID, to the pandemic," she said. 

• 
  

Despite the pandemic, the agency has contributed to the increase in foreign direct investments. The number of projects rose 5.31 percent while export income rose for the first 6 months of 2021 by 21.636 percent, she added.

The number of workers, which decreased in 2020 to 1.4 million, has now recovered to 1.6 million, Plaza added.

She said more would be developed in areas nationwide to attract "all industries in the world." 

Plaza said there are 417 operating economic zones in the country. 

--

ref:

https://news.abs-cbn.com/business/09/22/21/medical-pharma-firms-to-set-up-shop-in-ecozones

July 2, 2021 Yazaki Torres Hiring- 1,500 jobs up for grabs in Laguna manufacturing firm

 1,500 jobs up for grabs in Laguna manufacturing firm

AT least 1,500 job opportunities are now up for grabs to fill up vacancies in one of the country's top manufacturing companies based in Laguna province as the labor market continues on an upswing following the gradual resumption of economic activities, according to the Department of Labor and Employment (DoLE).

Labor Secretary Silvestre Bello 3rd disclosed on Friday that Yazaki-Torres Manufacturing INc.(YTMI) sought the assistance of the labor department in sourcing out the needed manpower requirement for its current operations.

"This is just the kind of collaboration we at DoLE believe is crucial for our country's continuous recovery," Bello said.

"We need to see more partnerships between the government and the private sector for the labor market to continue to flourish and for unemployment to persist on a downward trend," he said.

  

360p geselecteerd als afspeelkwaliteit

According to Bello, the collaboration between DoLE and YTMI is in line with the main thrust of the National Employment Recovery Strategy (NERS) Task Force for a "whole-of-society" approach towards employment recovery.

YTMI is the largest wiring harness manufacturer in the Philippines and is the country's top exporter of automotive parts. The firm is alo a Philippine Economic Zone Authority ( PEZA) Outstanding Employer Hall of Fame and Presidential Outstanding Healthy Workplace awardee.

Labor Assistant Secretary and concurrent Bureau of Labor of Local Employment Director said that by tapping the DoLE's network and reach, the opportunity could be brought to Filipino jobseekers adversely affected by the pandemic.

Last week, President Rodrigo Duterte signed an executive order adopting the NERS and mandating the task force to oversee its implementation. Following its release, the Task Force immediately took action, priming the launch of a partnership project that will bring one million jobs to the market.

Reform, Rebound, Recover: One Million Jobs for 2021 brings together key government agencies with leading business groups in the creation of one million jobs in the construction, manufacturing (particularly semiconductors and electronics), tourism and hospitality, and export industrie

DoLE leads the project on the government side, together with the Employers' Confederation of the Philippines for the private sector.

Jobseekers who wish to apply for the YTMI vacancies may send their resume indicating their Messenger account and contact details to "YTMI Hiring" on Messenger or via email to ytmirecruitment@gmail.com, j.rubio@khmpc.com.ph or june.belen2017@yahoo.com.

source: Manila Times

https://www.manilatimes.net/2021/07/02/news/1500-jobs-up-for-grabs-in-laguna-manufacturing-firm/1805480?fbclid=IwAR1mfluzF_t1A9nOcevMe2MoiHA0fP1XmMjCen3ZcpWIGz0hB2p8RdLxsfY

 

 

 

𝐏𝐄𝐙𝐀 𝐰𝐞𝐥𝐜𝐨𝐦𝐞𝐬 𝐬𝐢𝐠𝐧𝐢𝐧𝐠 𝐨𝐟 𝐂𝐑𝐄𝐀𝐓𝐄 𝐢𝐧𝐭𝐨 𝐥𝐚𝐰

 𝐏𝐄𝐙𝐀 𝐰𝐞𝐥𝐜𝐨𝐦𝐞𝐬 𝐬𝐢𝐠𝐧𝐢𝐧𝐠 𝐨𝐟 𝐂𝐑𝐄𝐀𝐓𝐄 𝐢𝐧𝐭𝐨 𝐥𝐚𝐰

April 7, 2021 (Wednesday)

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The Philippine Economic Zone Authority has welcomed the signing of a new law Republic Act. No. 11534, or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, by President Rodrigo Duterte last March 26, 2021.

The CREATE Law aims to gradually lower the corporate income tax from 30% to 25% and streamline the government’s fiscal incentives for investments both covering foreign and domestic enterprises.

PEZA Director General Charito “Ching” Plaza has expressed gratitude to the President and the Congress for considering most of the concerns and suggestions from the industry associations and PEZA-registered export industries that had been expressed and submitted to the House of Representatives and the Senate since the deliberations began as TRAIN 2, to CITIRA, and now the CREATE Law.

“We are happy with the final CREATE Act after all those years of struggle. We recognize the need to gradually change and reform the national tax or revenue system yet at the same time address the need to maintain and attract investors’ confidence in the Philippines, especially during this time of the pandemic,” said Plaza.

The PEZA Chief added, “Although CREATE may offer 'win some, lose some' opportunities for the different industries, we are glad that CREATE sustained our argument and has placed a high premium on export-oriented enterprises with their availment of superior fiscal incentives particularly for new projects that will be applied with the IPAs like PEZA.”

“Now that the passage of CREATE law is done, it creates stability in taxation regime and PEZA as the top export-oriented investment promotion agency can aggressively pursue marketing and promotion of our economic zones to global investors,” she added.

The PEZA Chief said that there’s a need to communicate to existing and new investors the impact of the CREATE law to export-oriented industries while pushing the momentum and efforts to attract investments through marketing and promotion activities.

𝐄𝐱𝐭𝐞𝐧𝐬𝐢𝐨𝐧 𝐨𝐟 𝐚𝐯𝐚𝐢𝐥𝐦𝐞𝐧𝐭 𝐨𝐟 𝐢𝐧𝐜𝐞𝐧𝐭𝐢𝐯𝐞𝐬 𝐟𝐨𝐫 𝐞𝐱𝐢𝐬𝐭𝐢𝐧𝐠 𝐑𝐁𝐄𝐬

One of the items vetoed by the President which may have a big effect on the country’s existing foreign direct investors is the removal of the extension of availment of tax incentives by existing registered business enterprises (RBEs) given that the "extension of incentives for existing projects is unfair to ordinary taxpayers / unincentivized enterprises and further, only new activities and projects deserve fresh incentives."

Under CREATE, RBEs have no choice but to make do with the 10-year sunset period (after the lapse of ITH) and thereafter, graduate to the regular 25% CIT rate.

As explained by Deputy Director General for Policy and Planning Mr. Tereso Panga, “This scenario could be a make or break for the Philippines as the affected ecozone locators, for example, might decide to retain their facilities and invest in new projects to be entitled to a longer ITH and SCIT period (total of 14- 17 years) or worse, they might just pack up and transfer to a more willing host-country that can offer better incentives for their investments as their availment of more advantageous incentives for sunk projects with the IPAs prior to CREATE were cut short by the mandatory sunset period for RBEs.”

Nevertheless, Plaza remains hopeful that the locator companies will be able to cope with the new conditions and the Philippine economy will be able to bounce back with a much inclusive growth for the country.

“We believe that effective governance will be pivotal in our resolve to retain, expand and attract investments into the ecozones under the CREATE regime, and in due time, our existing locators will be able to adjust to CREATE and continue to secure their investments in the Philippines,” she said.

PEZA is currently preparing its inputs to the Implementing Rules and Regulations (IRR) of the RA 11534 and will soon conduct a series of dialogue with its locator companies to further discuss the impact or benefits of the CREATE Law to PEZA and its registered enterprises.

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Reference: PEZA facebook page=https://www.facebook.com/PEZAPH/

Yamaha Motor Philippines, Inc. at Lima Technology Center

YAMAHA MOTOR PHILIPPINES OFFICE: 

Head Office:
Lots 1&2, Block 17, Phase I, LIMA Technology Center, Malvar, Batangas
Telephone no.: (043) 455-1900
Fax no.: (043) 981-2459

photos taken from: Yamaha Facebook Recruitment page

 

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PEZA Chief welcomes the Inauguration of the Manufacturing Plant Expansion Project of Yamaha Motor Philippines, Inc. at Lima Technology Center, Special Economic Zone, Batangas 

23 February 2021 (Tuesday)

Davao City – The Philippine Economic Zone Authority (PEZA) Director General Charito “Ching” Plaza attended the Inauguration of the Manufacturing Plant Expansion Project of Yamaha Motor Philippines, Inc., (YMPH) yesterday, February 22, 2021, at the Lima Technology Center, Malvar, Batangas. The PEZA Chief attended the said Inauguration on Monday.

The Inauguration formally marks the start of operation of the PEZA approved plant expansion with Supplemental Agreement last January 15, 2020. This is also Yamaha’s testament to their commitment to further business operations in the Philippines.

Yamaha Motor Philippines, Inc. has been with PEZA since its registration on September 5, 2007. This is part of PEZA’s aim to attract Japanese companies to locate and invest here in the Philippines.

Director General Plaza expressed her appreciation and gratitude to locator companies’ continued operations such as the YMPH for keeping the Philippines afloat and protected amidst the COVID-19 pandemic, thus preserving the welfare of our countrymen, our country’s economy, and the jobs of Filipinos.

“PEZA welcomes YAMAHA’s Expansion Project especially during this time that we are reeling from the uncertainties at hand,” Plaza said. The PEZA Chief also emphasized that PEZA has always been supportive of these relative projects as it aims to encourage locators not to leave nor transfer but to expand and continue operations in economic zones amidst the pandemic.

This is also a significant event for the YMPH President Hiroshi Koike as this is his first time setting up a new factory in the Philippines in his 34 years working in Yamaha Motor. According to Koike, with the pandemic shifting the mode of public transportation from commuting to personal use of mobility, there is an increase in the demand for automatic models. “Generating a huge number of products will result to creation of more jobs roughly about 1500 employees for old factory and additional recruitment of 1300 workforce for this newly-built factory. This is in line with our corporate social responsibility in contributing to the enhancement of the Philippine economy,” Koike said.

YMPH aims to continuously cooperate with PEZA in expanding their business in order to also fulfill the mission of Yamaha Motor Philippines which is having the highest

growth in the motorcycle industry among ASEAN countries and to take pride in impressing the Filipino people by creating products that are beyond expectations.

As PEZA continues to do its best in promoting the creation of economic zones especially in the countryside, Plaza encourages locator companies to retain this in the entire nation and attain much inclusive growth for the Philippines. “We look forward to strengthening our partnership with you to achieve our goal of transforming the Philippines to become an investment haven in Asia.” PEZA Chief said

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Ref:

1. http://www.peza.gov.ph/index.php/press-release/172-peza-chief-welcomes-the-inauguration-of-the-manufacturing-plant-expansion-project-of-yamaha-motor-philippines-inc-at-lima-technology-center-special-economic-zone-batangas

2.