Here's a quick rundown of the latest business news from the Philippines.
Palawan Implements 50-Year Mining Ban
The province of Palawan, known for its rich natural resources, has approved a 50-year ban on new mining permits. This decision comes despite the presence of 11 currently operating mines and numerous pending applications. The move signals a significant shift in the province's approach to resource management and environmental protection. It remains to be seen how this ban will affect the existing mining operations and the overall economy of Palawan.
“Palawan's decision underscores the growing importance of sustainable development and responsible resource management,” says environmental analyst Maria Santos. “Balancing economic growth with environmental preservation is a challenge, and this ban reflects a commitment to the latter.”
UNIQLO Expands Footprint with Roadside Store
UNIQLO Philippines has opened its first "roadside store" in Taytay, Rizal. This marks another milestone for the Japanese brand in the country. According to Japanese Ambassador Enzo Kazuya, the Philippines boasts the highest number of UNIQLO stores in Southeast Asia, demonstrating the rising popularity of Japanese brands among Filipino consumers.
The Department of Trade and Industry (DTI) anticipates further expansion of Japanese brands in the Philippines, indicating a positive outlook for foreign investment and consumer spending.
Government Sets Pork Price Ceiling in Metro Manila
To combat rising food costs, the Department of Agriculture has announced a maximum suggested retail price (MSRP) of P380 per kilo for pork belly in wet markets across the National Capital Region (NCR), also known as Metro Manila. This agreement was reached in collaboration with the hog industry, aiming to provide affordable pork options for consumers.
This measure is intended to stabilize prices and ensure that consumers can access essential food items at reasonable costs.
Unemployment Rises Amid Manufacturing Decline
In January 2025, the unemployment rate in the Philippines climbed to 4.3%. The primary driver of this increase was a significant decline in the manufacturing sector, which experienced a loss of 209,000 jobs year-on-year. While the agriculture sector showed signs of recovery following a series of tropical cyclones in 2024, the overall job market faced headwinds.
The Hidden Cost of Alcohol and Tobacco
New research reveals the staggering economic burden of alcohol and tobacco consumption in the Philippines. The study estimates that these habits cost the country approximately P1.1 trillion annually. This figure encompasses healthcare expenses, lost productivity, and other indirect costs associated with alcohol and tobacco-related illnesses.
This data highlights the significant impact of these substances on the Philippine economy and underscores the need for effective public health policies.
Stay tuned for more updates on business and economic developments in the Philippines.