Economy

President Ferdinand R. Marcos Jr. is using his official visit to Vancouver to deepen economic ties with Canada, pitching the Philippines as a prime destination for investments while pushing forward negotiations for a bilateral free trade agreement (FTA).

The Federation of Philippine Industries (FPI) said the country's manufacturing sector remains on a recovery path despite the newly approved wage hike in Metro Manila, but warned that sustaining the momentum will require policies that protect both workers and business competitiveness.

The Philippine Chamber of Commerce and Industry (PCCI) warned that the newly approved minimum wage increase in Metro Manila could fuel inflation, squeeze exporters and eventually dampen employment as businesses grapple with rising labor costs.

Davao del Norte has reclaimed its place in the global cacao trade, exporting premium fermented cacao beans for the first time in more than a decade in a breakthrough that could open new opportunities for Philippine farmers in high-value overseas markets.

The Philippines will take the spotlight at next year's China-ASEAN Expo after being named Country of Honor for the 23rd CAEXPO, giving local businesses a prime platform to expand trade, attract investments and strengthen commercial ties across the region.