The Department of Trade and Industry (DTI), through the Philippine Trade and Investment Center (PTIC) in Jakarta, met recently with officials of PT WIR Asia to discuss the Indonesian tech firm’s plan to expand into the Philippines with an initial projected investment of $20 million for this year.
The Department of Trade and Industry (DTI) said the enactment of RA 11697 or the Electric Vehicle Industry Development Act (EVIDA), which provides for a national policy framework to develop the electric vehicle industry in the Philippines, will boost tech investments in the country.
SpaceX is setting up a local business entity that will provide Internet service through low-earth orbit (LEO) satellites and is targeting to launch the first gateway for their satellites before June 30.
Tamiya’s existing factory in the Philippines, specifically in Mactan, Cebu is housed inside a 40,000 sq. meter facility with over 1,200 workers engaged in model assembly.
During a trade mission to Washington DC, Department of Trade and Industry (DTI) secretary Ramon Lopez secured the commitment of US firms Black and Veatch and SBA Communications to build hyperscale data centers and common towers in the Philippines.
The Department of Trade and Industry (DTI) has reminded online shopping platforms to ensure all products offered for sale in their sites should bear the Philippine Standard (PS) mark or the Import Commodity Clearance (ICC) sticker.
SpaceX is currently establishing a local Filipino entity that will be their wholly-owned subsidiary and is targeting to deploy three gateways in the first phase of their launch.
Pres. Rodrigo Duterte signed into law on Monday, March 21, Republic Act 11659 or the amendments to the Public Service Act (PSA), which allows full foreign ownership in key sectors including telecommunications, railways, airports, and shipping.
The DTI Global AQELERATION Program (GAP) is an acceleration and soft-landing program that will help mature Filipino startups enter Southeast Asian markets and support various needs such as business development, fundraising, and other strategic opportunities.
Through IDEA and ADVanCE, the government intends to mitigate the challenges being faced by startups by providing customized interventions and support such as coaching, mentoring, training, and workshops.
