The government is retaining its 15% growth target for total exports this year, according to an Export Development Council (EDC) official.
In order to achieve the growth target of 15%, merchandise exports will have to rise by 15% to US$61.10 billion, while service exports should increase by 5% to US$20.43 billion. The electronic sector is seen to recover in the coming months while the business process outsourcing (BPO) industry is expected to remain robust.
EDC Executive Director Senen Perlada said that the electronic sector’s performance is usually better in the second and third quarter due to the increase in dvd reproduction for the country.
According to the Department of Transportation, the auction for the Metro Rail Transit Line 3 maintenance service contract has been postponed to May so that it would receive more competitive bids.
This also results in the extension of PH Trams-CB&T Joint Venture’s six-month interim maintenance service contract, which the company had won after it offered a monthly maintenance cost of US$1.15 million. Transportation undersecretary for Legal Affairs stated that the bidding had to be postponed as almost all bidders requested for an extension of bids submission.