Deletion from Watch List will bring in more FDIs, says PCCI

The Philippine Chamber of Commerce and Industry (PCCI) forecasts increased volume of foreign direct investments by US high-technology manufacturers due to the delisting of the Philippines from the Special 301 Watch List of the US Special Trade Representative.

“Many US manufacturers of high-technology products would be encouraged to locate here because of USTR findings that Philippine laws provide adequate protection of intellectual property rights,” said Alfredo M. Yao, president of the country’s biggest business organization. “The delisting would signal effective enforcement against counterfeiting, piracy and other IPR violations.”

Mr. Yao listed examples of high-technology companies such as those engaged in pharmaceuticals, food manufacturing, software and information technology, chemicals and cosmetics and personal care products, machinery and equipment, automotive components, electronics, and research and development.

The USTR announced last month the deletion of the Philippines from the Special Watch List.

Mr. Yao lauded the successful efforts of the Philippine government for the deletion.

Mr. Yao added that weak protection of IPR deterred foreign direct investors from deciding to locate here.

Some technology-intensive companies merely showed their presence here through licensing or distribution agreements, he said.

According to Mr. Yao, strong IPR laws and their enforcement assure foreign direct investors of control of their production processes due to the high costs spent on development and innovation.

Weak IPR laws are considered by them as a competitive location disadvantage because they are exposed to piracy or imitations. They also face breach of contracts by their local partners who could later become their competitors.

The more technology-intensive companies that the manufacture here, the more world-class products would be stamped as “Proudly Made in the Philippines”, he said.

“With increased volumes of foreign direct investments, the potential benefits include more choices for consumers, more reasonable prices, more government revenues, and more job opportunities,” Mr. Yao pointed out.

To strengthen awareness and appreciation of IPR and its importance to business and ensure the sustainability of IPR protection, PCCI and the Intellectual Property Office are organizing and will launch the Brand Development and IP Protection Council of the Philippines (BDIPCP) during the 1^st Brand Development and IP Protection Summit on May 22. Through the Council, PCCI and IPO hopes to centralize all actions on IP protection and brand development.

The summit further aims to provide a ground for domestic and international brand owners to learn about the latest brand development strategies, to address the need to ensure IP protection and cooperative effort to combat counterfeiting and piracy. (PCCI)

Comments

Empanada festival: A celebration of good taste and good life

By Dominic B. dela Cruz & Leilanie G. Adriano Staff reporters BATAC CITY—If there is one thing Batac is truly proud of, it would be its famous empanada-making business that has nurtured its people over the years. Embracing a century-old culture and culinary tradition, Batac’s empanada claims to be the best and tastiest in the country with its distinctive Ilokano taste courtesy of its local ingredients: fresh grated papaya, mongo, chopped longganisa, and egg. The crispy orange wrapper and is made of rice flour that is deep-fried. The celebration of this city’s famous traditional fast food attracting locals and tourists elsewhere comes with the City Charter Day of Batac every 23 rd of June. Every year, the City Government of Batac led by Mayor Jeffrey Jubal Nalupta commemorate the city’s charter day celebration to further promote its famous One-Town, One Product, the Batac empanada. Empanada City The Batac empanada festival has already become...

Free dormitories eyed for Nueva Era students in LC, Batac

Nueva Era mayor Aldrin Garvida By Dominic B. dela Cruz ( Staff Reporter) Nueva Era , Ilocos Norte—The municipal government here, headed by Nueva Era mayor Aldrin Garvida is planning to establish dormitories in the cities of Laoag and Batac that will exclusively cater to college students from the said cities. “Sapay la kuma ta maituloyen iti mabiit tay ar-arapaapen tayo ken iti munisipyo a maipatakderan kuma dagiti annak tayo a college students nga agbasbasa idiay siyudad iti Batac ken Laoag iti libre a dormitoryo a bukod da ngem inggana nga awan pay ket an-anusan mi paylaeng nga ibaklay kenni apo bise mayor iti pagbayad da iti kasera aggapu iti bukod mi a suweldo malaksid dagitay it-ited iti munisipyo ken iti barangay nga stipend da kada semester, ” Garvida said. Garvida added that the proposed establishment of dormitories would be a big help to the students’ parents as this would shoulder the expenses of their children for rent and likewise they would feel...

P29 per kilo rice sold to vulnerable groups in Ilocos region

BBM RICE. Residents buy rice for only PHP29 per kilo at the NIA compound in San Nicolas town, Ilocos Norte province on Sept. 13, 2024. The activity was under a nationwide pilot program of the government to sell quality and affordable rice initially to the vulnerable sectors. (Lei Adriano) San Nicolas , Ilocos Norte —Senior citizens, persons with disability, and solo parents availed of cheap rice sold at PHP29 per kilogram during the grand launching of the Bagong Bayaning Magsasaka (BBM) Rice held at the National Irrigation Administration compound in San Nicolas, Ilocos Norte province on Sept. 13, 2024. “ Maraming salamat Pangulong Ferdinand R. Marcos Jr. sa inyong pagmamahal sa Region 1 lalong-lalo na sa bayan namin sa San Nicolas,” said Violeta Pasion, a resident Brgy. 18 Bingao in this town. The low-priced grains were sourced from the National Irrigation Administration’s (NIA) contract farming with irrigators' association members in the province. Along with Pasion, Epi...

The Ilocos Times

Search This Blog