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Tag: Philippines

  • Philippines lowers rice import tax to 15%

    Philippines lowers rice import tax to 15%

    The Philippines, one of the world’s largest rice buyers, has announced a reduction in rice import taxes from 35% to 15%, effective from early this August through 2028.

    This can be seen as the latest action by the Philippine government to tackle inflation, especially increasing rice prices in the market so far this year.

    In the first quarter of 2024, the Philippines’ economy was relatively stable, except for the price increase of some essential consumer goods, particularly rice, which saw an increase of about 24.4%. The rice prices account for approximately 9% of the Consumer Price Index (CPI) of the Southeast Asian country.

    According to the Vietnam Trade Office in the Philippines, Vietnam’s largest buyer to date, accounting for over 80% of the total rice imported into the Philippine market.

    As of May 23, Vietnam exported 1.44 million tons of rice to the Philippines, accounting for 72.9% of the country’s total grain imports. The Philippines’ reduction of the rice import tax is said to increase opportunities for Vietnamese rice in the market.

    Latest data from the Department of Agriculture’s Bureau of Plant Industry, the Philippines’ total rice imports rose by 20.3% to 1.97 million tons in the reviewed period. The country’s total rice imports are estimated to reach about 4 million tonnes in 2024.

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  • Indonesian coffee brand Tomoro Coffee plans expansion in the Philippines

    Indonesian coffee brand Tomoro Coffee plans expansion in the Philippines

    Indonesian coffee chain Tomoro Coffee has announced a US$10 million investment to expand its presence in the Philippines.

    According to World Coffee Portal, Tomoro Coffee aims to establish 100 stores in the country by the end of this year.

    The first Tomoro Coffee store in the Philippines opened in April at the Wynn Plaza apartment complex in Manila. Since then, the chain has opened five sites in the country, including a three-story flagship location at Far Eastern University this month.

    Tomoro Coffee, which boasts more than 500 outlets in Indonesia since its launch last August, is aggressively pursuing international growth.

    Its recent milestones include debuting in China last year, in Singapore in February, and opening a roastery in Jakarta in May.

    The brand plans to produce 2400 tonnes of coffee annually to support its expansion.

    “We are pleased to announce our expansion into the Philippines and are committed to providing fresh coffee to our customers regularly,” said Tomoro Coffee.

    “This marks a significant step in our journey to reach 1000 stores across Southeast Asia within the next 12 months.”

    Tomoro Coffee is actively seeking franchise partners to facilitate its expansion.

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  • Singapore and The Philippines further liberalise international air services to improve air connectivity between and beyond both countries

    Singapore and The Philippines further liberalise international air services to improve air connectivity between and beyond both countries

    Singapore and the Philippines signed a Memorandum of Understanding (MOU) to upgrade and further liberalise international air services between both countries. The MOU was signed by Mr Yee Ping Yi, Singapore’s Deputy Secretary of the Ministry of Transport and Mr Enrique Antonio J. Esquivel III, the Philippines’ Assistant Secretary for Aviation and Airports on 9 May 2024.

    The MOU upgrades the bilateral Air Services Agreement (ASA), which was signed in 2010 and last amended in 2015. It allows Singapore and Philippine airlines to offer up to 150 weekly codeshare services to carry passengers between Singapore and Manila, with airlines from third countries as codeshare partners. This is a significant increase from the current limit of 35 weekly codeshare services. The new limit of 150 weekly codeshare services will double by end-March 2026, and will be fully lifted by end-March 2027.

    In addition, there will be no limit on codeshare services between Singapore and other points in the Philippines, as well as between Singapore and any points in the Philippines involving airlines from ASEAN or the European Union.

    The upgraded ASA also allows Philippine airlines that are fully owned or controlled by nationals of other countries to access the traffic rights exchanged in the ASA, as long as their principal place of business is in the Philippines. Previously, only airlines that were substantially owned and effectively controlled by Philippine nationals could do so.

    Mr Yee Ping Yi, Deputy Secretary of the Ministry of Transport said: “It is important to provide a favourable regulatory environment so that our carriers can capitalise on new business opportunities. This MOU will facilitate improved air connectivity between and beyond both countries and is a win-win outcome for both countries.”

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  • Qantas to launch new route from Manila to Brisbane

    Qantas to launch new route from Manila to Brisbane

    Qantas has today announced it will launch a new route from Manila with direct flights to Brisbane in Queensland, Australia.

    From 28 October 2024*, the flights will operate four days per week with the Airbus A330 aircraft, marking the first flights set to be operated by the Australian national carrier between the two cities in more than ten years.

    The flights add to Qantas’ existing daily service to Sydney and will add more than 100,000 seats between the Philippines and Australia each year.

    Tickets for the new Manila-Brisbane route will be available for sale at qantas.com and through travel agents in the coming days.

    The flights will be operated by Qantas’ fleet of A330 aircraft with 27 Business Class suites in 1-2-1 configuration, with each suite featuring direct aisle access and converting into a lie-flat bed. All Qantas international fares include checked baggage allowance, food and beverages and inflight entertainment as standard with every booking.

    Qantas recently announced it would accelerate a program to introduce ‘fast and free’ Wi-Fi across its existing fleet of international aircraft, including Airbus A330 aircraft with enough bandwidth for every passenger to enjoy a fast and consistent connection. The service will be progressively introduced on Qantas flights between Manila and Australia from next year.

    Qantas International CEO Cam Wallace shares, “The Philippines is a very important part of our Asia network, so we’re pleased to be growing with a new route to Australia. This new connection will strengthen business links between our two countries. The flights will also make it easier for Filipinos to visit family and friends living in Queensland, as well as offering a new gateway for travellers to explore the region.”

    He adds, “We know large numbers of our customers have been travelling between Manila and Brisbane via our existing Sydney service, which gives us great confidence about how this route will perform when flights start.”

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  • E-commerce Outsourcing Philippines: Cynergy BPO on How 24/7 Multilingual Support Has Become the New Gold Standard

    E-commerce Outsourcing Philippines: Cynergy BPO on How 24/7 Multilingual Support Has Become the New Gold Standard

    In today’s digital age, where the sun never sets on the global marketplace, the imperative for e-commerce businesses to provide 24/7 multilingual support has never been more pronounced. Cynergy BPO, a leading outsourcing advisory firm in the Philippines, is at the forefront of championing this essential service paradigm, recognizing it as the new gold standard in customer care. With the digital marketplace operating non-stop across different time zones, the ability to offer immediate, culturally attuned customer service has become a critical determinant of success in the international e-commerce arena.

    Leveraging its extensive experience in collaborating with Fortune 500 retailer such as eBay, Sears, and Home Depot, the Cynergy BPO is adept at understanding the nuances of global consumer behavior. The firm emphasizes the significance of not just communicating but connecting with customers in their native language, ensuring that every interaction is meaningful and personalized. “In the realm of global e-commerce, the power of language and cultural understanding cannot be underestimated. It’s about making every customer feel valued and understood, transcending geographical and linguistic barriers,” says John Maczynski, CEO of the advisory firm.

    The demand for around-the-clock service reflects a consumer base that shops online at all hours, expecting not only instant responses but also interactions that are culturally and linguistically relevant. Ralf Ellspermann, CSO of Cynergy BPO, further elaborates on the importance of this service, “Offering multilingual support around the clock is not just about being available; it’s about being present in a way that deeply resonates with the customer’s cultural context and expectations.”

    The firm’s strategic BPO advisory services are instrumental in forging successful partnerships between e-commerce companies and the Philippines’ highly skilled multilingual customer service providers. “Our goal is to facilitate connections that not only meet but exceed the dynamic needs of a diverse global clients,” Maczynski emphasizes. This commitment to excellence extends to ensuring that e-commerce outsourcing providers can deliver a seamless, culturally rich customer experience, leveraging the Philippines’ renowned hospitality and technological prowess.

    Plus, the adaptation of cutting-edge technology in customer service, such as AI-driven chatbots and CRM systems, has further enabled providers to offer personalized and efficient support across various channels. “Integrating technology with human empathy allows us to provide a customer service experience that is both innovative and genuinely caring,” Ellspermann notes.

    The transformative effect of offering 24/7 multilingual support on business growth is significant. It not only enhances brand loyalty and customer satisfaction but also positions e-commerce businesses as leaders in the global market. “Being able to effectively communicate with customers in their language, at any time, sets a brand apart, fostering a global community of loyal customers,” states Maczynski 

    As e-commerce continues to expand its global footprint, the integration of 24/7 multilingual support will increasingly become a defining feature for companies that excel in customer experience. Cynergy BPO is at the helm of this evolution, advocating for comprehensive support services as the standard of excellence. Through their expertise and strategic partnerships, the advisory firm is enabling businesses to achieve unparalleled customer loyalty and success on an international scale.

    Cynergy BPO is not merely navigating the shift towards global customer service standards; it is actively shaping the future of global commerce. By endorsing the adoption of 24/7 multilingual support as the new benchmark, the firm ensures its clients are well-equipped to meet the demands of today’s global consumer, paving the way for a future where exceptional customer service transcends borders and languages, defining the very essence of e-commerce outsourcing success in the Philippines.

     

     

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  • Love, Bonito unveils new brand identity, revamped assortment strategy

    Love, Bonito unveils new brand identity, revamped assortment strategy

    Southeast Asian omnichannel fashion brand Love, Bonito has unveiled its new brand identity after 13 years of operation, introducing a change in its assortment strategy as part of the campaign.

    The brand’s name was redesigned with a cleaner font, while the clean bold logo was complemented by a heart-shaped monogram that was formed by the brand’s initials ‘LB’. While the brand is commonly known for its signature peach tone, the brand has expanded its colour palette with Bold Brown, Cool Pink and Heart Red.

    The company said its new image reflects the maturity and sophistication alongside its loyal community. The new look will be rolled out in physical stores in key markets such as Singapore, Malaysia, Indonesia and Hong Kong, with the flagship in Tun Razak Exchange Mall being the first location to be fully rebranded. The brand will also shift to a sassier tone of voice.

    “While many of our Asian cultures have been known to be more conservative, we want the world to see who the multifaceted Asian women are in this 21st century,” said Dione Song, CEO of Love, Bonito. “By doing so, we too want to let Asian women know that it is perfectly alright to be unabashedly ourselves while keeping to our roots and heritage.

    “Our consistent double-digit year-on-year growth since 2020 has been an encouraging sign,” Song added. “The vision of being the go-to destination for Asian women is big, and we are just getting started.”

    Love, Bonito said it will reduce the number of styles produced by 60 percent, streamlining its assortment to three key lines: Signatures, Staples, and capsule collections.

    “Our assortment overhaul was born out of the desire to create a resilient business as we continuously widen our global footprint,” said Pat Achakulwisut, chief commercial officer at Love, Bonito. “We want to make smarter strategic investments across various business functions, from design, production, merchandising to supply chain as well as overall operations.”

    The campaign follows the brand’s expansion into the US and the Philippines last year. Love, Bonito ships to 20 countries worldwide.

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  • Nitori to launch in the Philippines

    Nitori to launch in the Philippines

    Japanese furniture retailer Nitori will launch its first presence in the Philippines with a store planned to open next month, as part of its plan to push growth in Asia countries.

    The 1100sqm facility will be at the Mitsukoshi BGC shopping area in Manila. The company plans to operate 50 outlets in the Philippines by 2032.

    Nitori unveiled its plan to expand in Asia last year after opening stores in Malaysia and Singapore in 2022. The plan included the Philippines, Thailand, Vietnam, Indonesia and South Korea.

    Headquartered in Japan’s Tokyo, Nitori operates across the globe with stores mainly in Japan and China.

    Based on the goal statement “to enrich the homes of people all over the world”, Nitori’s vision is to open 3000 stores and reach sales of 3 trillion yen (US$20 million) by 2032.

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  • SM Prime to add 440,000sqm of retail space with four new malls

    SM Prime Holdings Inc (SMPH), one of the largest property developers in the Philippines, is set to open four shopping malls this year, adding 440,000sqm of retail space.

    The company plans to open SM City Caloocan, with 94,000sqm of gross floor area, in the first half of this year. In the second half, it intends to open SM City J Mall in Mandaue City, Cebu, SM City San Fernando La Union, and SM City Laoag, each spanning 111,000 to 123,000sqm.

    Aside from the new shopping malls, the property developer said it will refurbish and extend existing malls.

    “It’s an ongoing thing with SM Prime’s malls,” said Timothy Daniels, consultant for investor relations and sustainability at SM Investments Corp, the parent company of SMPH.

    “They always do it. They come back every few years, and they renovate and expand.”

    In 2023, SMPH reported a 33 per cent increase in net income to AU$1.09 billion from $826.16 million in 2022, as consolidated revenues jumped 21 per cent.

    Mall business accounted for 56 per cent of total sales, followed by residential business with 34 per cent, and other business segments, which include hotels, offices, and convention centres, with 10 per cent.

    Mall revenues totalled $1.97 billion last year, up 30 per cent from $1.5 billion in 2022. Operating income rose 28 percent to $1.03 from $801 million.

    In line with its expansion plan, SMPH has earmarked $3.3 billion for 2024 capital expenditures as it continues to explore acquisition opportunities and investments.

    Frederic DyBuncio, president and CEO of SM Investments, attributed the company’s success to Filipino consumers’ healthy spending patterns, particularly in fashion, dining, and entertainment.

    “SM’s performance as a group last year reflected our ability to stay close to our customers and address their needs regardless of uncertain economic conditions,” he added.

    SMPH currently operates 85 malls in the Philippines with 9.2 million sqm of gross floor area and eight malls in China with 1.6 million sqm of gross floor area.

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  • Philippines’ Clark airport makes pitch as aviation hub

    Philippines’ Clark airport makes pitch as aviation hub

    Last week, Philippine delegates pitched Clark International Airport’s viability as an attractive regional hub for global aerospace and aviation companies

    Airport developer Berthaphil is calling on maintenance, repair and overhaul (MRO) companies to consider setting up at Clark, where SIA Engineering has already established its own airframe maintenance operations. 

    Located 80 kilometres north of the capital Manila, the international airport can be accessed via the expressway and is situated within the free trade zone. This means interested parties can get favourable tax concessions, including up to a 7-year tax holiday and then a 5 percent corporate income tax rate.

    Berthaphil, which also built the first bonded warehouse and logistics centre at Clark, is offering a 10-hectare airfield site, with access to the primary runway, which can accommodate large widebody aircraft. The developer said the vacant property is available ‘as is’ or for a ‘a build to suit’ project.

    Apart from MRO companies, the groups are also targeting cargo airlines, logistics companies, fixed-based operators, business aviation companies, original equipment makers, regional and international airlines, and training organisations.

    Companies that have established operations at Clark include Singapore-based SIA Engineering and Hong Kong-based MetroJet. With a new terminal building, the airport has capacity for 80 million passengers, It is also an air cargo gateway for UPS, DHL and FedEx.

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  • Vietnam cooperate on rice exports with Thailand and Philippines

    Vietnam cooperate on rice exports with Thailand and Philippines

    Vietnam has agreed with Thailand as well as the Philippines to strengthen rice export cooperation to ensure regional and global food security.

    The consensus was reached when Vietnamese Prime Minister Pham Minh Chinh met with Thai counterpart Srettha Thavisin and Filipino President Ferdinand Romualdez Marcos on the sidelines of the ASEAN-Japan Commemorative Summit on Sunday in Tokyo.

    The Vietnamese and Thai prime ministers agreed to lift the two-way trade between the two countries to US$25 billion soon, through creating more favorable conditions for importing and exporting goods, including rice.

    Thailand is currently Vietnam’s largest trading partner in ASEAN, with import-export turnovers reaching $21.5 billion last year. Meanwhile, it is the 9th largest foreign investor in Vietnam.

    Vietnam and Thailand will also implement the “Three Connections” Initiative which focuses on new areas such as digital transformation, green transformation, and the circular economy.

    The Vietnamese prime minister and the Filipino President agreed to step up rice export cooperation to ensure regional and global food security when both countries export rice to many nations, and the Philippines imports Vietnamese rice.

    Among Vietnamese rice importers, the Philippines currently imports the most. In the first nine months of this year, the Philippines imported 2.4 million tons of rice worth $1.5 billion from Vietnam.

    Data from the Ministry of Agriculture and Rural Development shows in the first 11 months, Vietnam earned $4.4 billion from exporting 7.75 million tons of rice to many countries around the world.

    The average price of Vietnamese rice was $568 per ton, surging 17% over the same period last year, sometimes reaching nearly $650 per ton.

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  • Aussie wines meet Filipino spirits in new venture 7000 Islands

    Aussie wines meet Filipino spirits in new venture 7000 Islands

    Filipino-Australian entrepreneur Siggy Bacani seeks to bring the best of both worlds together by launching 7000 Islands, a cross-cultural business venture that imports Filipino liqueurs and spirits to Australia while exporting small-batch Aussie wines to the Philippines.

    Making its debut this month, the first shipment of hand-crafted Ube Cream liqueurs arrived in the company’s warehouse in Sydney directly from regional provinces in the Philippines.

    The liqueurs and a range of Filipino spirits will progressively become available in selected bars, restaurants and specialist outlets across Sydney, Brisbane, Melbourne and Perth.

    On the other hand, 7000 Islands will also distribute select white and red wines from Victoria’s Yarra Valley and varietals in SA and NSW.

    Bacani was born in the Philippines and moved to Australia with his family in the late 1980s; he considers himself “at home” in both. Previously, he worked as a marketing manager for Bacardi Brown-Forman Brands in the UK and for Moët Hennessy in Australia.

    “These are exciting times,” he remarked. “Our vision is to harvest and export superb local wines from around Australia that perfectly harmonise with the tropical gastronomy of the Philippines while providing Australian drinkers with the chance to explore some of the unique taste profiles of popular Filipino liqueurs and spirits.”

    Initially, the 7000 Islands brand will have approximately 20 products available ranging from wines selected from the 65 wine-growing regions of Australia to liqueurs and spirits produced by distillers from the 82 provinces of the Philippines.

    “All our Philippine-based drinks are sourced from natural Filipino ingredients such as Ube and sugar cane,” Bacani continued.

    “For example, Proclamation Gin is made from handpicked Sampaguita flowers responsibly sourced from female farmers in Pampanga.

    “Meanwhile, the vivid purple yam known as Ube is already popular in Australia and can now be found in many products, including Filipino pastries, cakes and ice creams.”

    The imported Filipino craft spirits will be available in premium restaurants and bars, including the three-hat restaurant Oncore by Clare Symth in Crown Sydney;  Ni Hao Bar & Dining in Sydney’s Civic Hotel, modern Vietnamese restaurant and bar Saigon Hustle in Sydney’s Smithfield, multi-award winning Serai restaurant in Melbourne and Hygge Bar in Perth.

    “We are passionate about bringing the best of these two worlds together with a selection of small-batch wines and craft spirits that reflect the unmistakable flavours and traditions of Australia and the Philippines,” Bacani concluded.

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  • AirAsia Philippines gears up for holiday season

    AirAsia Philippines gears up for holiday season

    AirAsia Philippines is gearing up for the holiday season and expects a surge in air passenger traffic after the foreign traveler vaccine certificate requirement was lifted.

    The Department of Health Circular 2023-06 applies to all airports and seaports in the country and states that all arriving international travelers will be accepted regardless of their vaccination status. The circular took effect on Aug. 12, 2023, and follows the Transportation Department’s earlier announcement of the scrapping of face masks for public transportation.

    AirAsia spokesperson Steve Dailisan said the latest development is timely with the upcoming “Ber” months (referring to September, October, November and December), which are usually the busiest time for airlines and peak season for travel in the country.

    He said the lifting of the vaccine certificate travel requirement is a significant step towards making travel more seamless and will encourage travelers, regardless of their vaccination status, to experience the Philippines.

    The Department of Tourism aims to achieve 4.8 million international tourist arrivals this year, and AirAsia is committed to helping achieve this target by providing exceptional services and value deals for flights and other travel-related services through its Airasia Superapp.

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  • Cebu Pacific upgrades aircraft fleet this year

    Cebu Pacific upgrades aircraft fleet this year

    Philippine carrier Cebu Pacific has increased its aircraft deliveries for 2023 to a record high of 21 to further improve its operational resiliency amidst growing demand for air travel.  

    The airline originally had plans to add 15 aircraft to its fleet, and now expects six more to be added to its fleet. It welcomed its ninth aircraft this year on 27 July, a brand-new Airbus A321neo, which was delivered from the Airbus centre in Hamburg, Germany using blended sustainable aviation fuel (SAF) on its flight. 

    Cebu Pacific is expecting 21 individual aircraft delivered this year, of which 17 are NEOs and four are CEOs (current engine option) on short-term lease. It aims to shift to an all-NEO fleet by 2028. 

    Earlier in June, Cebu Pacific received a brand new A320neo aircraft from Airbus’ final assembly line in Tianjin, China, powered by SAF with 41 percent blend, marking a major milestone for its sustainable aviation initiatives.   

    “This aircraft delivery allows us to increase our operational resilience while continuing to provide safe, reliable, and affordable air travel to our passengers. Our ongoing re-fleeting with new-generation, fuel-efficient aircraft and our continued use of sustainable aviation fuel will also help our decarbonization efforts in making the aviation industry more sustainable,” said Alex Reyes, chief strategy officer.  

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  • % Arabica returns to the Philippines

    % Arabica returns to the Philippines

    Arabica PH returns! The Japanese coffee shop has announced that it will be back in the Philippines this year with upcoming new branches in Bonifacio Global City (BGC), Taguig City.

    In a Thursday, January 5 Instagram post, Arabica Journal – the global account of the brand – posted rendered layout images of the two new Philippine stores as a “sneak preview,” showing minimalist, modern interiors and the brand’s iconic percentage symbol logo.

    “Manila, we will restart our project this year with these stores. We cannot wait to serve our coffee from the world to you once again,” they said.

    Arabica PH reposted the images on Friday, January 6, with the caption: “MABUHAY PILIPINAS! We are coming back bigger and better!” The branches’ opening dates and exact locations have yet to be confirmed.

    The Philippine return of the independent coffee brand from Kyoto has been met with excitement from the brand’s former patrons, especially after three of Arabica PH’s branches suddenly closed with no warning in late January 2021. Even the brand’s Instagram page was suddenly no longer available, much to customers’ confusion and concern.

    A day later, it was announced that Arabica’s franchise period and contract with its Philippine partner had already ended, and a new partner would soon be in the picture. Before this, the Arabica Headquarters had already been experiencing “communication issues” with the Philippine franchise partners. On February 2, Arabica PH was back online once again, with a new Instagram account to boot.

    Arabica PH said then that expansion plans were already being discussed with new franchise partners, and the plans were not limited to just Metro Manila but would also include other Philippine regions.

    Arabica PH opened its first branch in Bonifacio Global City in Taguig City in 2018, followed by a second BGC branch and another at The Podium in Mandaluyong City. The brand currently has 140 stores worldwide, and advocates a “simple love for coffee and design.”

    Arabica PH’s former partners since 2017, mother-daughter duo Allue and Dr. San San Hortaleza, built a new “proudly Filipino” coffee brand called Angkan Coffee, which has branches in BGC, The Podium, and a soon-to-open one in Capitol Commons.

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  • Vietnam leads rice exports to Philippines

    Vietnam leads rice exports to Philippines

    Vietnam continued to be the biggest rice provider to the Philippines in the first five months of this year with a turnover of $772.4 million, surging 31.1% year-on-year.

    During January-May, the Philippines imported 1.5 million tons of rice from Vietnam, accounting for nearly 90% of its total imported rice, according to the Asia-Africa Market Department under the Ministry of Industry and Trade, citing data from the Philippine Bureau of Statistics.

    This was also the record level of Vietnam’s rice exports to the Philippines so far.

    million dollarsRice export turnover to the PhilippinesJanuary-May period between 2019 and 2023turnover

    In the first five months, Vietnam exported 3.6 million tons of rice, with the Philippines accounting for 42.3% of the share.

    In the last six months of the year, rice exports to the Philippines are forecast to continue to increase due to the impact of climate change and the El Nino phenomenon that could severely affect domestic food production in the country of 113 million people.

    To take advantage of the opportunity to export rice to this market, businesses should closely follow market developments and policies on rice trade, the Asia-Africa Market Department said.

    Market research firm Fitch Solutions forecast that the global rice market will face the most severe shortage for 20 years in 2023. A shortfall of about 8.7 million tons is expected in the 2022-2023 crop year, the highest level since 2003-2004.

    Vietnamese agricultural experts said that rice prices will stay good in the short term due to global economic, and political uncertainties pushing up demand for food reserves.

    In addition to the Philippines, Indonesia and many countries in Asia are also increasing purchases of Vietnamese rice due to a decrease in supply.

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