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PTIC-Singapore promotes the ASEAN 2017 Business and Investment Program in Singapore The Singapore International Chamber of Commerce (SICC) invited Philippine Commercial Counsellor Glenn Peñaranda from the Department of Trade and Industry (DTI) Philippine Trade & Investment Centre (PTIC) – Singapore to speak in its March 2017 ASEAN Committee meeting. Peñaranda shared development plans for ASEAN as the Philippines assumes chairmanship this year.  On top of the country’s agenda is steering the ASEAN to full economic integration through greater trade and investment among member countries. 

The Philippines also plans to conclude the Regional Comprehensive Economic Partnership (RCEP) that will link the ASEAN—an economic powerhouse with a market of 600 million people—to its six Dialogue Partners, creating an even bigger market of 3.5 billion people.

Peñaranda emphasized the ASEAN 2017 Business and Investment Program (ABIP) which the DTI spearheads.  He detailed the ABIP’s major activities that will complement the country’s priorities under the ASEAN Economic Community pillar, which include regulatory coherence; micro, small, and medium enterprises; innovation; and women and youth.

Philippine Ambassador to Singapore Antonio Morales also graced the meeting and talked about the over-all advocacies of the Philippines under the theme “Partnering for Change, Engaging the World.”  The theme aims to highlight the country’s resolve to consolidate ASEAN Community for its people with the sense of togetherness and common identity, ready and able to take its rightful place in the global community of nations.  Morales added that it is a grand year for the country as ASEAN marks 2017 as its 50th anniversary. 

Peñaranda covered as well the latest investment climate and opportunities in the Philippines, highlighting the strong presence of Singapore businesses in various sectors in the country.   Its ready pool of young, skilled labor force makes it an attractive destination for Singapore firms.

“I am delighted to work closely with the SICC in helping open doors for Singapore companies.  I look forward to exploring new avenues and sustained commercial relations and public-private partnerships with the SICC member companies,” said Philippine Commercial Counsellor Glenn Peñaranda.  

The SICC is the first business chamber in Singapore.  Its key themes are on ASEAN, innovative collaboration, realities of the present and sustainability of Singapore.  The Chamber celebrated its 180th in February of this year.

DTI promotes Entrepreneurship to Singapore-based Filipinos

"Small businesses are critical in creating jobs in the Philippines and that is the government’s top priority," said Philippine Commercial Counsellor for Singapore Glenn Peñaranda in a recent Philippine Investment Strategies talk organized by Filipinos for Filipinos based in Singapore.

Peñaranda outlined the steps on starting a business: where to start, modes of entry, and opportunities in the Philippines to consider, particularly in food and agribusiness.  He said entrepreneurship is not for everybody given its myriad of challenges.  A business owner should have enough passion and stamina and not be motivated only by profit. 

"We in DTI reach out to as many Filipinos in the country and abroad to inspire a spirit of entrepreneurship in them, added Peñaranda.  “We also encourage Filipino expats in Singapore, Malaysia and major markets we operate in to bring home skills, experiences and innovative ideas for products and services.”  

This is only one of the entrepreneurship seminars Peñaranda regularly conducts as a member of the Philippine Department of Trade and Industry’s (DTI) Foreign Trade Service Corps.  The organization’s goal is to provide useful information and insights to help entrepreneurs understand the market’s ever-changing needs.

In the Philippines, DTI has established Negosyo (business) Centers across the country to provide access to information, training, credit facilities and other forms of assistance.  There have also been initiatives in improving ease of starting and doing business.