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6 Things You Should Know about PEZA Zones

August 11, 2022 By FAQ Leave a Comment

Philippine Economic Zone Authority (PEZA)’s Special Economic Zones (SEZs) have been critical in spreading economic growth throughout the country, particularly in the countryside. While it is just one of many SEZ authorities in the Philippines, its legal powers are the most comprehensive in scope, effectively giving it the lead in developing industrial parks and other special facilities.

Here are 6 things you should know about PEZA Zones.

1. PEZA Zones Attract Critical Foreign Direct Investments

PEZA zones were designed from the ground up to attract foreign direct investments (FDIs). Historically, FDI inflow into the Philippines has been limited by a combination of red tape, ownership laws, and the lack of infrastructure. PEZA zones and other special zones and parks were set up as a way for foreign investors to avoid these issues.

The perks offered by PEZA zones include expedited paperwork, relaxed foreign ownership restrictions, and reduced tariffs. Offering these has allowed the Philippines to better leverage its comparative advantage—high-quality labor. This combination of benefits has proved to be a winning one, as PEZA zones now attract thousands of foreign locators each year.

2. 16% Of the Philippines’ GDP Is Generated through PEZA Zones

PEZA zones generate immense value for the Philippine economy. In 2019, about 16% of the country’s GDP was attributed to economic activity generated within special economic zones, mostly managed by PEZA. About 70% of the country’s total exports of commodities were produced in SEZs as well. This all amounted to about USD 60.2 billion in direct economic value in 2019.

The economic merit of these zones was further underlined during the COVID-19 pandemic. These areas continued to be a source of income for the country despite the disrupted global supply chains. This recent event has proven that SEZs are now vital to the country’s stability.

3. They Are Key to Decentralizing Job Opportunities

One unfortunate fact about the Philippines is that there is currently a job equity gap between rural and urban Filipinos. While the cost of living tends to be much lower in the countryside, incomes tend to be disproportionately low as well, preventing individuals from saving, investing, or taking entrepreneurial risks.

Job opportunities in the Philippines are overwhelmingly concentrated in highly developed urban areas like Metro Manila and Metro Cebu. Jobs in these cities tend to be more plentiful, diverse, and better paying than in most other places in the country. This has led to massive urban migration from the countryside, simultaneously creating urban blight and negatively affecting rural job markets.

PEZA zones are now helping slow down this general trend of urban migration. The presence of PEZA zones in smaller regional cities has played a key part in convincing many Filipinos to stay in their hometowns. In most cases, these zones offer very high-quality jobs with better salaries and career advancement prospects than is typical for smaller communities.

4. The Biggest PEZA Zones Are in the Countryside

While there are numerous PEZA zones located within major cities, the largest ones are mostly located in smaller cities and municipalities in the countryside. When they are built in less prosperous areas, these zones are responsible for a large proportion of local economic activity.

Large PEZA SEZs are often located outside of big cities because of the much lower cost of land acquisition in rural areas, which consequently brings down the development cost of industrial parts. Additionally, industrial waste from factories is often easier to manage in the countryside, as waste treatment facilities can be difficult to set up in built-up urban areas.

5. PEZA Zones Boost Surrounding Communities

PEZA zones in the countryside do not operate in isolation. Industrial parks and other SEZs contribute significantly to local economies, wherever they are built.

The businesses connected to SEZs pay local taxes, generate local business opportunities, and boost local employment. Many of the service and market gaps that may exist in SEZs are often addressed by local entrepreneurs who, in turn, create additional value for the local economy.

Recognition has already been given to the role of industrial parks in boosting communities in the countryside. In 2019, Malacañang’s Administrative Order (AO) 18, “Accelerating Rural Progress Through Robust Development of Special Economic Zones in the Countryside,” was signed, effectively making SEZs an official tool for countryside development.

6. PEZA Zones Spur Domestic Innovation

Over the decades that SEZs have been in the Philippines, these areas have proven critical for vital technology and knowledge transfers. The establishment of foreign businesses in PEZA Zones has helped Filipinos become more familiar with various technologies and methods that were previously unknown or rare in the Philippines.

Many Filipino professionals and entrepreneurs have already created their own startups that leverage these learnings. A high proportion of Filipino entrepreneurs have gotten their start from working for multinationals located in SEZs. It would be hard to overstate the impact that SEZs have had in bringing local businesses to global standards.

PEZA SEZs have been an essential part of the Philippine economic formula for decades. They are a source of jobs, domestic innovation, and economic stability and have helped improve the lives of millions of Filipinos, especially in the countryside. One day, the successes of these zones may even be copied or exceeded in other parts of the country.

6 Practical Money Management Tips for Newlyweds

August 10, 2022 By FAQ Leave a Comment

As newlyweds, you and your spouse will be blending all aspects of your life, including your finances, which means the two of you will be sharing your income, expenses, assets, and liabilities. As such, it’s a good idea to discuss your financial management plan as a couple as early as possible. It’s certainly ideal to talk things through when it comes to money matters since it is one the most common sources of disagreements in the first three years of marriage.

While your household finances isn’t the most romantic topic of conversation out there, it’s a subject that certainly needs to be discussed. It allows you to plot the best ways to handle your money, from paying your bills to managing your savings, all while supporting the lifestyle that you want for yourselves. It also helps you prepare for future plans, like adding new members to your family.

As you transition from handling your finances independently to doing it as husband and wife, here are six practical money management tips you can take into consideration.

Buy Household Items Secondhand

When moving into your new home, it can be tempting to purchase brand new household items to welcome your new life together as a married couple. However, getting new furniture and appliances to match your new home can be a costly choice. Unless you have the budget to buy everything brand new, you can consider getting some of them secondhand. It will help you save up money and still furnish your home.

Additionally, purchasing secondhand is a great way to discover quality items at lower prices. You’re likely to find a second hand sofa or dining set in good condition at a fraction of the cost that you would typically pay for when you get the set brand new. Moreover, you’re also more likely to stumble upon unique pieces when you buy secondhand, since many of these items are no longer being produced or they may come from faraway places where the original owners lived. Think of furniture and decorative pieces of rare designs, or even custom creations you probably wouldn’t find elsewhere.

Open a Joint Account for Household Expenses

Having a joint account mainly for household expenses will help you monitor the money that comes in and out of your coffers. You can also use it as your central fund to pay for your common household expenses such as food, rent, utility bills, and others. Sharing a joint account also allows both of you to access the money should you encounter emergencies.

And if you’re wondering about whether or not it’s advisable to keep separate accounts as a married couple, the short answer is “it’s totally up to you.” Many relationship experts and even long-time couples recommend the practice of letting one’s spouse maintain their financial independence while also sharing financial responsibilities.

Talk about Who Pays for What

If you have a two-income household, be sure to define what your monthly contributions will be for the household. You can also discuss how much you’ll give to the joint account monthly, as well as how much you’ll spend, save, and invest. In case you prefer maintaining separate accounts, you can assign certain payments to each other. This can depend on your earnings and if you have any loan obligations to fulfill before getting married.

Some couples assign between them who will manage certain daily expenses. One might be assigned to handle food, utilities, and transportation, while the other might be tasked to make contributions toward the household’s insurance, retirement funds, and investments. This is a practical approach because you get to distribute your household’s financial responsibilities. That said, make sure that these financial responsibilities are distributed equitably.

Set Up a Luxe Fund

Do you want a new smart TV or go on a vacation? Prepare for these non-essential expenses by creating a “luxe fund” and channeling a portion of your income into it. Doing this will allow you to still take care of essential expenses while saving up for the little luxuries you want. Also, it’s a good practice to splurge on dispensable expenses only when you already have enough budget for them. It will help teach both you and your spouse to plan and control your spending.

Build an Emergency Fund

It’s never too early to set up an emergency fund, and you won’t regret doing it. An emergency fund is a stash of money (ideally a separate savings account) that you set aside in case the unexpected happens, such as a health emergency, a home repair emergency, or a retrenchment at work.

When considering how much of your monthly budget you should set aside for your emergency fund, you can follow the typical recommendation of stashing away at least 6 months’ worth of living expenses. To do this, you’ll need to set aside 10 percent or more of your gross income each month, and you need to keep saving until you have the amount you need—or more.

If you want to ensure you regularly put money into your emergency fund, you can set up an automatic transfer with your bank or take turns with your spouse putting money into the account every month. If you begin creating an emergency fund now, you can slowly grow it over time, which should give you peace of mind should you encounter any unexpected issues in the future.

Update Your Accounts

Many newlyweds move into new homes after getting married. If you’ll have this kind of arrangement as well, make sure to notify the banks, credit card companies, insurance companies, and investment companies you have accounts with about the change in your address or contact information. You also have to inform these institutions about your change in marital status because the union will have a bearing on your legal entitlements to one another’s financial assets and estates.

When it comes to managing finances, it’s up to you as a couple to discuss what works best for you. However, if you’re looking for time-tested pieces of advice, make sure to consider the abovementioned tips. These will help you settle in your new life as husband and wife, and they will help you prepare financially for your future.

Top 10 Best Hospitals in the Philippines

May 28, 2021 By FAQ Leave a Comment

With so many medical facilities in Philippines, it can be it difficult to know which hospital will be the right option for you. Hospitals in both the private and public sectors are typically safe and reliable. Deciding between both is generally a matter of choice, as both systems deliver top-of-the-line medical care.

The largest benefit of going public is the affordability factor. Costs are generally lower than those in private hospitals, as public hospitals are usually subsidized by the government. Public hospitals in Philippines are typically considered to be of a high standard with highly trained medical professionals and world-leading facilities.

In addition to these public hospitals, there are a number of privately run hospitals and centres that do not receive the same funding from government and therefore charge patients directly for services. If ultimate luxury and comfort are what you are after, then chose a private hospital for your treatment. Expect shorter waiting times and a smoother administration and billing process.

If you don’t already have health insurance and get sick, you have to pay the full cost of your medical care.
So make sure you have quality health insurance that covers your medical expenses, including prescriptions.

We have compiled a list of 10 best hospitals in Philippines including options from both public and private sectors.

1. Philippine Heart Center

The Philippine Heart Center is a hospital in Quezon City, Philippines, specializing in the treatment of heart ailments. It was established in 1975 under the Marcos Administration. It ranks as one of the leading medical institutions in Asia for the medical and surgical treatment of heart diseases. The Center admits more than 14,000 patients yearly, of whom more than 3,300 undergo heart surgery.

Aside from offering medical services, the Center is deeply involved in cardiovascular research, training and education and public information. It offers training programs not only for aspiring heart specialists but also for private and government medical practitioners. It engages in various researches on the prevention and control of cardiovascular diseases and undertakes nationwide information programs on the heart and heart care.

Location: East Avenue, Quezon City, Metro Manila

Website: www.phc.gov.ph

Phone: +632 8925 2401

2. St Luke’s Medical Center Quezon City

Considered as one of the best in Asia and renowned the world over, no hospital in the Philippines has gained so much attention over time as St. Luke’s. The hospital has a 650 bed-capacity and also hosts medical equipments such as the 3-Tesla MRI, 1152-slice dual energy CT scanner, PET scanner and Cyclotron. It employs at least 1,700 doctors and about 2,600 non-medical staff.

The St. Luke’s Medical Center in Quezon City is the first hospital in the Philippines and the second one in Asia to be accredited by the Joint Commission International. The hospital first earned the distinction in 2003 and the accreditation has been renewed at least four times. In 2012, HealthExecNews chose St. Luke’s Medical Center as one of the Top 25 Most Beautiful Hospitals in the World.

Location: 279 E. Rodriguez Sr. Ave., Quezon City, Metro Manila

Website: www.stlukes.com.ph

Phone: +632 8723 0101

3. Makati Medical Center

The Makati Medical Center in Manila, Philippines, has been providing top quality care for over 45 years. Their depth of experience and highly regarded reputation make it an excellent option for anyone seeking affordable medical treatment abroad. The Center has a 600 bed-capacity and is known throughout the country as one of the best places to receive treatment for both domestic and foreign patients.

In 2011, Makati Medical Center became the first and only Philippine health institution to be certified with the 4th edition Joint Commission International accreditation and the 4th hospital in the country to be accredited. Also in the same year, Asian Hospital Management Awards (AHMA) gave Makati Medical Center an “A Decade of Achievement” special award. This recognition was given to the top three hospitals who won the most Asian Hospital Management Awards in the 10 years of HMA.

Location: 2 Amorsolo Street, Legaspi Village, Makati, Metro Manila

Website: www.makatimed.net.ph

Phone: +632 8888 8999

4. Asian Hospital and Medical Centre

Founded in March 2002 by Jorge Garcia, MD – an alumnus of the Faculty of Medicine & Surgery of the University of Santo Tomas – Asian Hospital and Medical Center (AHMC) has been synonymous to advance medical facilities that are at par with international standards of medicine. Located in the Filinvest City in Alabang, Muntinlupa City, the hospital has 296 beds and a thousand medical staff who are trained to provide quality and compassionate patient care.

The first hospital in the Philippines designed with a hotel-like ambiance, AHMC believes in creating an environment which ultimately promotes healing, comfort, and care for the patient and their family. It has also been accredited by The Joint Commission in 2013, with a renewal of the accreditation given in 2016.

Location: 2205 Civic Drive, Filinvest Corporate City Alabang, Muntinlupa City

Website: www.asianhospital.com

Phone: +632 8771 9000

5. The Medical City

The Medical City (TMC), the largest healthcare network in the country, is composed of one flagship complex, four provincial hospitals, and over 50 clinics in Metro Manila and in select provinces in the Philippines. The main facility is located on a 1.5 hectare property along Ortigas Avenue in the business district of Pasig City, Metro Manila. It is composed of 115,000 square meters of floor space, and includes two Nursing Towers with capacity of up to 800 beds.

The Medical City Main has been conferred accreditation by the Joint Commission International for attaining and maintaining the highest standards of quality for healthcare organizations. JCI is widely recognized as the most prestigious accrediting body for international healthcare organizations.

TMC has defined for itself the value proposition: “Where Patients are Partners.” This phrase finds its fullest meaning when the patient is viewed not as a problem to be solved or a charge to be cared for, but as a partner in his own health.

Location: Ortigas Center, Pasig, Metro Manila

Website: www.themedicalcity.com

Phone: +632 8988 1000

6. Cardinal Santos Medical Center

Named in the honor of Archbishop Rufino Cardinal Santos, the medical center is a 235-bed tertiary general hospital. Cardinal Santos Medical Center (CSMC) earned its place as a leading hospital in the country that specializes in cardiology, neurosurgery, oncology, and rehabilitation medicine. CSMC is also recognized for its expertise in pediatrics, obstetrics and gynecology, pulmonary medicine, nephrology, urology, and minimally invasive surgery.

CSMC has defined for itself the value proposition: “YOU are family”. At CSMC, every patient is treated like a family member. Each one is guaranteed to experience not just the best of care but the warmth and dedication we give to our own family.

Location: 10 Wilson St. Greenhills West, San Juan City, Metro Manila

Website: www.cardinalsantos.com.ph

Phone: +632 8727 0001

7. Philippine General Hospital

More than most hospitals, Philippine General Hospital (PGH) has become a household word, and rightly so. Administered and operated by globally-recognized top university in the country, University of the Philippines, the hospital can certainly boast of the best and the brightest medical personnel in the region.

As a public hospital, PGH is regarded as the national public hospital of the Philippines, and because of this, it has been known as the hospital of the indigents. PGH has 1,100 beds and 400 private beds, and has an estimated of 4,000 employees to serve more than 600,000 patients every year.

Location: Taft Avenue, Ermita, Metro Manila

Website: www.pgh.gov.ph

Phone: +632 8554 8400

8. Manila Doctors Hospital

Recently acquired by MetroBank Foundation, Inc., Manila Doctors has certainly become a premiere health-care destination inside the country and right at the tourist district of Manila. It was founded in the City of Manila in 1956 by the group of doctors. The hospital is currently owned by the Manila Medical Services, Inc. It provides services for physical examination, cardiovascular check, and oncology unit.

The hospital slogan is “World Class Care Within Your Reach“.

Location: 667 United Nations Avenue, Ermita, Manila

Website: www.maniladoctors.com.ph

Phone: +632 8558 0888

9. University of Santo Tomas Hospital

The University of Santo Tomas Hospital (simply UST Hospital or USTH) is a hospital located at the University of Santo Tomas. Founded as San Juan de Dios Hospital in 1577, UST Hospital is one of the oldest – if not the oldest – hospital in the country. The hospital has two divisions, a clinical teaching hospital that offers inexpensive medical care for indigent patients and a private hospital for patients with financial means, which is partially used to subsidize the clinical division.

The USTH, the base hospital and training facility of students of the University of Santo Tomas Faculty of Medicine and Surgery, the UST College of Nursing, and the UST College of Rehabilitation Sciences, is a level III, tertiary care center within the campus of the University of Santo Tomas, the oldest University in Asia. As a premier institution of learning in the Philippines, excellence in training, education and research is central in the vision and mission of the USTH.

Location: A.H. Lacson Avenue, Sampaloc, Manila, Metro Manila

Website: www.usthospital.com.ph

Phone: +632 8731 3001

10. Chong Hua Hospital

Chong Hua Hospital is a hospital in Cebu City, Philippines. It is a non-stock, non-profit organization, owned and managed by the Asociación Benévola de Cebú. With 660 beds and state-of-the-art facilities and equipment, Chong Hua is considered as one of the biggest, most advanced, fully integrated and comprehensive healthcare facility system in the Visayas and Mindanao.

In 2009, it became the first hospital outside Luzón and third in the Philippines to be accredited by Joint Commission International. The hospital had been able to keep its agency accreditation until 2015.

Location: Don Mariano Cui Street, Fuente Osmeña, Cebu City, Central Visayas

Website: www.chonghua.com.ph

Phone: +633 2255 8000

Mga Dapat at Hindi Dapat Gawin sa Forex Trading na Dapat Malaman ng Bawat Pilipino

March 11, 2020 By FAQ Leave a Comment

Katulad ng ibang negosyo, may mga maaaring gawin upang maging matagumpay ang iyong mga transaksyon sa forex trading. Isang halimbawa nito ay ang paggamit ng kalakalan ng kopya ng forex Pilipinas sa iyong mga trade. Ito ay isang mabisang paraan upang maging matagumpay ang iyong mga trade.

Subalit, katulad din sa ibang negosyo, mayroon ding mga bagay na dapat at hindi dapat gawin sa industriya ng forex trading. Ito ay impormasyon na mahalaga at dapat alamin, lalo para sa isang baguhan pa lamang sa mundo ng forex trading.

Anu-ano nga ba ang mga dapat at hindi dapat gawin pagdating sa forex trading? Ipagpatuloy ang pagbabasa upang malaman ang mga ito.

Mga Dapat Gawin:

Dapat ikaw ay may nakahandang plano para sa iyong mga trade.

Kung ikaw ay isang baguhan pa lamang, ito’y isang napakaimportanteng hakbang upang maging matagumpay ang iyong mga trade. Ikaw ay dapat handa at may malalim na kaalaman at pagkakaintindi sa industriyang ito dahil ito ang mga haligi ng matagumpay na mga transaksyon sa forex trading.

Maglaan ng panahon upang masusing mapag-aralan ang galaw ng industriya.

Bago ka sumabak sa industriya ay nararapat lamang na pag-aralan nang mabuti ang industriya at kung paano gumagalaw ang merkado. Dahil ang masusing pag-aaral ay kinakailangan upang maiwasan ang mga pagkakamaling magdulot ng pagkalugi.

Bukod dito, kung malalim ang iyong pagkakaintindi sa kung paano gumagana ang merkado ng salapi ay maaari kang bumuo ng mas maayos na estratehiya sa forex trading.

Isang paraan upang maging matagumpay ang iyong mga trade ay ang pag-aaral nang mabuti sa mga kasalukuyang pattern ng forex trading market gamit ang mga chart at iba pa. Ito ay makakatulong sa isang baguhang forex trader upang lalong maintindihan kung paano gumagana ang forex trading market.

Isaisip ang ratio ng maaring kitain at mawala.

Ito ay dapat gawin bago magsimula ng panibagong trade at siguraduhin na ginagawa ang trade sa panahong nagpapakita ng malaking paglaki o pagbaba ang merkado. Ito ay para maiwasan ang pagkalugi at mawalan ng puhunan.

Magkaroon ng malalim na kaalaman sa Fibonacci Analysis.

Ito ay isang bagay na maaaring makatulong sa isang trader, lalo na sa isang baguhan, upang malaman ang tamang panahon kung kailan dapat lumabas at pumasok sa isang trade. Ito ay dahil nakakatulong ito sa paghula sa mga maaaring maging galaw ng merkado.

Gamitin lahat ng maaaring gamitin upang lalong maintindihan ang industriya.

Isang bagay na maaaring gawin ng isang baguhan ay gamitin ng lahat ng bagay na mayroon siya upang lalong mapalalim ang kanyang kaalaman at pagkakaintindi sa industriya ng forex trading. Lalo na’t marami nang mga kurso online na maaaring pasukin upang lalong maintindihan ang industriya ng forex trading.

Mga Hindi Dapat Gawin:

Magmadali sa mga transaksyon.

Ang isang trader, lalo kung baguhan pa lamang, ay dapat iwasan ang pagmamadali sa mga trade dahil ito ay maaaring maging dahilan ng kanyang pagkalugi. Ikaw ay dapat magkaroon ng mahabang pasensya upang maiwasan ang mga pagkakamali na dulot ng pagmamadali.

Paggawa ng desisyon dahil sa pagmamadali para lamang kumita.

Ito ay mahalaga lalo kung ikaw ay baguhan na trader. Hindi ka dapat magmadali sa iyong mga desisyon para lamang kumita dahil maaari ito maging sanhi ng iyong pagkalugi kung mali ang iyong desisyon. Kung ikaw ay hindi pa nakasisigurado sa maaaring maging resulta, huwag mo munang itaya ang iyong puhunan.

Pagsagawa ng trade sa mga oras na patay ang merkado.

Kahit ang merkado ng forex trading ay hindi natutulog, mayroon pa ring mga panahon na ito ay hindi kasing aktibo kaya hangga’t maaari ay iwasan ito dahil ito ay maaaring magdulot ng pagkalugi.

Gamitin nang buo ang deposit, lalo sa simula.

Ito ay dahil ang maliit na paggalaw ng merkado ay maaari nang maging sanhi ng pagkawala ng iyong puhunan. Bilang isang baguhan, laging tandaan na sapat na halaga lamang ang gamitin upang maiwasan ang pagkalugi.

Pagiging sakim at emosyonal sa mga trade.

Ito ay isang malaking bagay na hindi dapat gawin sa industriyang ito. Ang forex trading ay isang negosyo at dapat iwasan maging emosyonal at sakim sa mga transaksyon lalo’t hindi ito isang bagay na inirerekomenda.

Ang pagpasok sa isang trade na mukhang hindi matatag.

Upang maiwasan ang pagkalugi sa forex trading ay dapat maging maingat sa bawat trade na iyong pinapasok. Kung hindi maganda ang ipinapakita sa mga chart ay iwasan muna ang pakikipagtransaksyon.

Konklusyon

Ang forex trading ay isang industriya na kinakailangan ng pag-iingat at masusing pag-aaral upang maiwasan ang pagkalugi at pagkawala ng iyong puhunan. Ang pagsasapuso ng mga nasabing impormasyon tungkol sa forex trading ay maaaring maging susi sa iyong tagumpay sa industriyang ito.

4 Reasons It’s a Good Idea to Take on Government Contracts through PhilGEPS

February 16, 2020 By FAQ Leave a Comment

If you’re the owner of a micro, small, or medium enterprise (MSME), you may find the prospect of bidding for a government contract quite intimidating. Aside from having concerns about possible strict bidding requirements, you might think that the process entails a lot of stress in submitting paperwork and a lot of back-and-forth between yourself and the government agency involved. At the back of your mind, you might also be thinking about whether your cash flow can handle a project of such scale. Indeed, there are a number of things to worry about when entering a business-to-government (B2G) contract for the first time. But partnering with the Philippine government may be one of the best long-term decisions you could ever make for your business. Plus, securing that B2G partnership may no longer be as difficult, confusing, or risky as you’d originally thought.

Thanks to an online portal called the Philippine Government Electronic Procurement System (PhilGEPS), it’s easier for even smaller businesses to bid for contracts with the government. In the past, procurement and bidding processes tended to be circuitous and unclear—and sometimes even downright anomalous.

Thankfully, this culture of inefficiency and corruption was largely upended by passage of Republic Act No. 9184 or the Government Procurement Reform Act (GPRA) in 2003. Among the stipulations in the GPRA was the requirement that all government agencies use PhilGEPS for their procurement processes. Over the years, users of PhilGEPS—comprising both the government and the private sector—have seen the difference for themselves. PhilGEPS is proof of how digital technology can make procurement and bidding more efficient, accessible, and transparent.

In this short guide, we’ll provide some information on how you yourself can use PhilGEPS and what advantages you can expect when you use the platform to conduct a B2G contract bidding. This should help you prepare before finally extending an offer to provide your products and services to the Philippine government.

What Will Registering to PhilGEPS entail?

MSMEs have the option of registering for either a Free Membership or a Platinum Membership on PhilGEPS. For the Free Membership, you will need to submit your Taxpayer Identification Number (TIN) as well as your Department of Trade and Industry (DTI) license or your Securities and Exchange Commission (SEC) certification. For the Platinum Membership, additional requirements like your Business Permit, an audited financial statement, tax clearance documents, and a membership fee of PHP 5000 are needed. The Platinum Membership will come with a special PhilGEPS certificate that most government procurement contracts require. Though a Platinum Membership entails an additional expense, this type of membership will make it much easier for you to do business with government units, agencies, and offices.

As soon as you make your first bid on PhilGEPS, you should be ready for the possibility that it will be accepted. That, in turn, may require you to have all your resources on hand to fulfill the project. If you don’t have adequate funds to cover the project costs just yet, you may consider getting business financing from First Circle, a private financing firm. A partner like First Circle, which offers accessible credit facilities like invoice financing and purchase order financing—can help you meet your obligations for your first big government contract on PhilGEPS.

The Benefits of Taking on Contracts with PhilGEPS

There are several key advantages to bidding for contracts on PhilGEPS. Here are four that stand out.

A Learning Opportunity for What Clients in the Philippine Government Need

A first-time user of PhilGEPS will be surprised to see how diverse the opportunities are on the platform. One important feature of the site is its catalogue of available bidding opportunities. These can be for supplying automation equipment, beverages, book publications, government vehicles, and a whole host of other things. The site will list down the exact number of opportunities available per category and which agency, regional office, or local government unit needs it. As a user, you will be able to browse through all these opportunities and explore the ones that are applicable to your business.

A Streamlined Bidding Process

With PhilGEPS, there are few ambiguities as to what each B2G contract will entail. Each opening will list the exact budget of the project, the documents required from each bidder, and the contact details of the government officer in charge. There will be no back-and-forth about basic project details, and there will be transparency in accounting for every peso to be spent on the project. All you need to do is view the opening, submit the documents, wait for the bidding results, and—if everything is in your favor—fulfill the contract.

Gateway to Lucrative Business with the Philippine Government

Government contracts are among the most lucrative contracts a small business owner can secure. Unlike many private businesses, the government has a consistent budget allowance for the services it needs. If the contract pulls through and your partner agency is pleased with your services, you might be able to bid again based on a cross-referral. Taking on additional contracts from other departments, bureaus, and attached offices in the government agency will definitely help you upscale your company’s professional abilities.

Credibility for Your Brand

By virtue of registering to PhilGEPS, you’ll be showcasing yourself to clients of high value. This communicates your confidence that you can fulfill important projects under strict requirements. Even before they accept your bid, your government clients will have a positive view of your company. And for every completed contract, you’ll gain a standout credential in your company’s portfolio. Thus, registering to PhilGEPS is one of the best ways that you can accumulate credibility and prestige for your company or brand.

Summary

Procurement and bidding are vital processes to the Philippine government since they are essential to the fulfillment of each agency’s regular public duties. Indeed, a B2G contract may be a profitable opportunity for your company; however, it is also a chance for you to work with people who, in turn, work for the betterment of the country.

5 Best Online Shopping Websites in the Philippines

December 23, 2019 By FAQ Leave a Comment

When it comes to convenience, online shopping is the best way to get your desired products at your doorstep. The Philippines has been growing rapidly in the e-commerce sector due to which the sales from online stores are also increasing simultaneously. One of the biggest reasons for this is that the latest fashion trends are inspiring individuals including men and women to express themselves more openly in society. Experiencing high growth, Philippines has a digital population of more than 67 million that attracts local and regional companies who compete against a leading company in the whole market. However, in the upcoming years, the e-commerce market is expected to grow with higher double digits. Excessive usage of smartphones, exposure to latest fashion trends, and easy internet access have played a very important role in emerging sector of online shopping.

With the facts stated above, we are sure that you would also want to explore this new world of exposed digital marketing. Consider starting to shop from the best online shopping websites for a wholesome shopping experience from these 5 online stores in the Philippines.

1. Zalora

The international-based shopping website, Zalora is one of the topmost leading websites in Asia, South America, and Russia. With over 30,000 products available and hundreds of new products being added every week, Zalora is an ambitious and constantly evolving shopping website for fashion lovers. You are provided ample choices and latest trends to keep up with the ongoing styles. Not only quality and options are available on Zalora but great prices and deals are regularly updated for the customers to shop. Apply Zalora promo code when you shop so that you can, you can avail maximum discounts on your online orders and shop with satisfaction.

2. Lazada

From auto-motives, fashion, home necessities to appliances, you can find it all on Lazada. With best services for the customers in the Philippines, it is making a dynamic change in the shopping habits of the people in the country. The store has over 1 million authentic sellers and 3k trusted brands serving millions of customers in the country through its marketplace online platform. You can flexibly shop, sell, and clear all your queries related to the online retailing system of the website. Lazada aims to reach every individual’s contentment via providing fine quality goods and services at budget-friendly prices.

3. Shopee

Another trusted shopping website in the Philippines is Shopee. The store is one of the top 5 online stores in the Philippines. It offers the same services as of other stores but the unique feature of this store includes monthly sales that people end-up staying awake all night just to catch their exclusive deals and offers. You can also apply Shopee voucher code to get discounts on products even without special deal days.

4. Metro Deal

Metro deal is an ideal platform to discover best deals for mostly searched services like restaurant buffets, entertainment deals, and many other activities. Purchase vouchers of your favorite and desired deals from the website to enjoy the day at amazing prices. The simple payment methods, user-friendly experience, and variety of options make this website a one-destination savior for all the services and facilities. The deals are regulated and updated daily so you can’t afford to miss out on what the website has to offer.

5. Carousell Philippines

This market place is best for selling and buying new and pre-owned items at great prices. Now merged with the previously known website OLX, many Filipinos choose this website to shop and sell pre-owned items. Categories like cars, home & furniture, fashion and much more are available on Carousell Philippines. Choose this website for a trading platform or hunting jobs and services and you will not be disappointed by the convenient online services it stores for your shopping and selling comfort.

As much as the world loves shopping, the easiest way of shopping is to shop online. As the evolution of shopping practices has started from bazaars, markets, to malls and now online, we can get literally anything at the tap of our fingertip. Avoid the monotonous and tiring process of shopping by standing in queues and walking crowd and opt online shopping for super comfort and relaxation.

5 Benefits a Cloud Accounting System Can Deliver

December 12, 2019 By FAQ Leave a Comment

If you’ve been shopping around for an ERP (enterprise resource planning) or accounting system in the Philippines, you’ve probably encountered arguments for and against newer cloud-based systems that have become standard during the past decade. Not everyone is quite on board with the idea, though.

ERP and accounting systems can be tough to upgrade due to the potential cost of migrating data and the downtime that may happen when the organization readjusts to the new system. This can make many businesses resistant to the idea of upgrading. But upgrading to a newer cloud-based system is still recommended for most users for a number of reasons.

Here are some of the proven benefits of switching to a cloud-based ERP or accounting system.

1. Resilience to natural disasters

The Philippines is no stranger to earthquakes, floods, and typhoons. While these events are mercifully rare, when they do happen, data loss due to catastrophic hardware damage isn’t too uncommon. More common than losing hardware directly to these events however, is losing them due to power fluctuations caused by these disasters. In either case, having your data on the cloud ensures that it’s safe from any single catastrophe.

2. Reduced risk of cyberattacks

Counterintuitively, cloud-based accounting systems are safer from cyberattacks compared to traditional local area networks. Granted, if all your data is on one single offline computer, that would make it theoretically immune from cyberattacks. On the other hand, most organizations recognize the impracticality of still using physical media to transport data to a separate device in the 2020s.

Local area networks aren’t much safer either, as it’s known that the majority of cyberattacks tend to perpetuated by people within the organization. Outside attackers also tend to find older systems much easier to access compared to newer ones as well. With a modern cloud-based system, cybersecurity is a top priority, and the developer will likely be creating regular updates, which means outside hackers will find it harder to breach compared to an older system.

3. Scalability

An accounting system should be able to easily expand along with your company. Many older systems are limited in their ability to do this, being unable to offer the right kind of functionality to keep up with a growing organization’s needs. Cloud-based systems, on the other hand, are almost always conceptually designed from the ground up to be as scalable as you need them to be.

4. Flexibility

The main advertised benefit of cloud-based systems is their flexibility. Users can access the systems at home or on vacation, which allows the organization more options when it comes to employee arrangements. It can also save time as employees no longer need to be tied to any one physical location to be able to use or access the system.

5. Lower IT costs

The cost of maintaining local servers can be quite high. In the Philippine setting where IT teams usually have multiple responsibilities, maintaining these servers is often an unwelcome responsibility on top of everything else the team is meant to perform. This means necessary updates may not always be implemented on time and that system maintenance may cause disruptive downtime.

With a cloud-based system, it is the system developer’s team that is responsible for system maintenance. This usually creates far less downtime time as the developer will have more resources to dedicate to upkeep due to their higher specialization. This means the organization no longer has to dedicate any time or resources to server upgrades and maintenance and its IT team can focus on other more important tasks.

If you’re interested in upgrading to a cloud-based accounting system in the Philippines or learning more about the benefits of switching over to different kinds of ERP systems, the team at ANSI is ready to help with your questions.

8 Tips for Your Upcoming Skype Interview

December 9, 2019 By FAQ Leave a Comment

Skype interviews are now a standard part of many companies’ interview processes, especially within the startup world. While commonly used for initial and second interviews, it’s no longer unusual to hire someone solely based on how well they perform on Skype.

Here are a few tips for maximizing your chances of at your next video chat interview.

1. Dress like you would for a face-to-face job interview

One might think that this would be obvious because the interviewer could actually see the applicant, but many HR professionals report that they often see applicants wear ultracasual attire or even house clothes on Skype interviews. This can look unprofessional and cause interviewers to see you as unprepared. Be sure to wear interview-appropriate tops as well as bottoms, in case you need to stand up to get something.

2. Make sure your surroundings are not distracting

Try to take the call in a quiet room at home. Secure any noisy or extra-affectionate pets and make sure that family members or housemates won’t be a problem. Try to make sure that there is nothing behind you that can reflect negatively on you in the interview.

3. Try to look at the camera, not the screen

Skype isn’t always as intimate as face-to-face conversations for a few reasons. One reason is most people stare at the screen, which removes eye contact. Usually, everyone tends to look like they’re looking at something behind their conversation partner, rather than at them — even if they are actually doing that from their perspective. Looking directly at the camera will help give the illusion of eye-contact with the interviewer and help humanize you, which can give you an edge in the interview.

4. Prepare a cheat sheet

Based on your prior research, you’ll want to have a list of questions you think will be asked as well what you feel will be the best responses. You may also want to list down a few questions of your own. While this could be on your computer, you may want to have it all on a separate notebook for easier access.

5. Close all distracting apps

Interviewers will sometimes be able to notice if you are browsing Facebook or playing games during the interview. Let’s just say you don’t want most of them finding out if you are. Make sure that you are committed to the interview by closing down all distracting and unimportant applications.

6. Use a good pair of headphones, if possible

Headphones will allow you to listen to the interviewer more closely and help give you a little bit more privacy during the interview as well. A microphone would also be handy if you already have one lying around.

7. Use a professional username and profile picture

Your Skype profile pic and username are the first things the interviewer will notice about you. If you have a potentially embarrassing username or profile pic, try to update this before you even start sending out job applications.

8. Send a thank-you email

Stand out from all the other applicants by sending a short email thanking the interviewer for the opportunity. It only takes a few minutes to write but it can go a long way into helping your application be a lot more memorable.

Conclusion

While they certainly are more convenient, we shouldn’t necessarily think of video chat interviews as being less formal or important than their traditional face-to-face equivalents. Make sure to do your homework and follow out tips to get the best possible chance at landing that position you’re gunning for.

Ready to look for a new job? Philippines job search website, like Mynimo.com. Mynimo’s powerful but easy-to-understand localization features make it simple to find your next career in locations close to where you already live.

4 Reasons Azimut-Benetti is the Leading Mega Yacht Builder Globally

November 14, 2019 By FAQ Leave a Comment

Established fifty years ago in 1969 by Italian student-turned-entrepreneur Paolo Vitelli, Azimut began as a humble sailing boat charter service before evolving into one of the world’s most renowned boat builders. In 1984, Vitelli acquired the illustrious Benetti brand, which was originally founded in 1873. Thus Azimut-Benetti, as it is known today, was born.

The Azimut-Benetti group strives to do one thing: to build beautiful, reliable, and innovative boats. Powerboat Philippines distributor Europa Yachts, the exclusive dealer of Azimut yachts in the country, believes it is high time for Filipino boaters to get to know this brand better.

To that end, here are four reasons that account for Azimut-Benetti’s supremacy in the yachting world, and why it is worth paying attention to its mega-sized ambitions.

They are a multi-awarded boat builder whose reputation continues to grow internationally

Azimut-Benetti possesses many plum distinctions in the yachting world; one need only to drop the company’s name, and it is likely to elicit approbation from yachtsmen who are in the know. One such distinction is Azimut-Benetti’s top ranking as a mega yacht builder in Boat International magazine’s Global Order Book—a position they have held for almost two decades.

At the recently concluded Cannes Yachting Festival of 2019, Azimut-Benetti also clinched the following awards: “Best Interior Design” for the Atlantis 45 (in the category of boats measuring between 45 and 64 feet); “Best Evolution Product” for the Azimut S8; and the enviable “Yacht of the Year” award for a 107-meter giga yacht, the Benetti FB277.

They are the yachting world’s specialists with regard to mega-sized yachts

To Azimut-Benetti, size matters—after all, size gives way to optimum passenger comfort, room to move around, stability at sea, and a sense of luxury that’s akin to staying in a holiday villa or driving one’s own supercar.

In December of 2018, Azimut-Benetti declared their involvement on 97 mega yacht projects, totaling 3,536 meters (or the length of thirty football fields combined). The company’s headquarters alone measures 100,000 square meters in size and can fit as many as 300 68-foot boats.

Like other Italian brands that are known for their craftsmanship, they invest in their art

Italy is a country already famous for its world-renowned companies that produce sought-after sports cars and fashionable clothing. That same brand of Italian artistry can be seen in the design and construction of Azimut-Benetti’s yachts. The company’s men and women place a high value on quality, attention to detail, and commitment to specialization—knowing that all of these are key ingredients in creating vessels of exceptionally high caliber.

They are the yachting industry’s chief innovators for specialty materials like carbon fiber

Lastly, one of Azimut-Benetti’s greatest strengths is its ability to capitalize on new boatbuilding technologies faster than everyone else. The company is now very much ahead of its competitors in working with carbon fiber, a lightweight but valuable material that’s improved the speed, weight distribution, and stability on their large powerboats.

Azimut-Benetti outdoes other boat builders in leveraging carbon fiber for spacious deck design, speedy boat travel, and above all, pleasurable riding. In fact, ten of Azimut-Benetti’s yachts measuring between 66 feet and 114 feet now incorporate honeycomb-patterned carbon fiber in their flybridges, hardtops, transoms, and other parts.

After earning numerous distinctions and earning worldwide revenues of upwards of USD 700 million, Azimut-Benetti is far from slowing down. Boating enthusiasts everywhere can expect the company to keep making waves on the world stage and to deliver that same award-winning experience to any new powerboat owner!

Why Is Buying a Repossessed Car a Good Move?

July 30, 2019 By FAQ Leave a Comment

In the market for a car and looking to get the most value out of your hard-earned money? Most people tend to think that buying new is the best option, but you can save a good amount of cash by looking at pre-owned cars. If you do the research diligently and aren’t afraid of asking the seller some tough questions, you could get a relatively good deal on something perfectly respectable. Another way of saving on a car purchase is by looking at bank-repossessed cars—these are vehicles that have been taken back by banks because their owners can no longer afford the monthly payments, or cars that have been used as collateral for a different loan that a debtor is no longer able to repay. In any case, buying a repossessed car can be one of the smartest financial choices you’ll ever make. Let’s break down the reasons why:

Repossessed Cars Are Cheaper

Banks typically aren’t looking to turn a profit when they sell cars that have been repossessed. They still have to pay for storage and maintenance costs, and cars sitting idle in a lot are not only useless to them, they also tend to cost the bank extra for keeping them around. As a result of this, you can get a car in like-new or even practically brand-new condition at a discount of 20 to 40%: that can be up to 200,000 pesos or more in savings. The down payment for repossessed units is also much lower than when buying new; a car’s value begins to depreciate almost as soon as it leaves the dealership and will only go lower over time. You’ll still have to pay a down payment of 20 to 30%, but since the car is already cheaper, you won’t have to shell out as much.

Hassle-Free Payment Options

One of the most frustrating things about buying a new car is the sheer amount of paperwork involved before you can drive away with it. Banks know that they lose more money the longer it takes for a repossessed unit to sell, so they cut through the complications and typically offer you the choice of paying for one with cash up front, or enrolling it into an auto loan program. Going with cash means that you won’t have to pay interest over time, but it can be a huge chunk of money to put down all in one go. Auto loans take the pressure off by allowing you to make incremental monthly payments on the car instead, which can be easier on you. Whichever option fits your budget best, it’s nice to be able to take the vehicle home without having to read through too many documents.

Safe and Secure Transactions

When buying a repossessed unit from a bank, you can rest easy knowing that the vehicle was not acquired illegally, and all of its papers and certifications are in good order. You’ll never have to worry about being defrauded, and you can be assured that your payments will always be safe.

Used but Not Abused

When a car seller puts his vehicle on the market, it’s usually because he’s already gotten himself a new one. Most vehicle owners tend to hold off on replacing their cars if they can continue to put up with its issues; the bottom line is that you never really know what condition the car is actually in until you’ve driven it for a while and discovered its problems, and by then it’s usually too late. On the other hand, repossessed cars go to the banks because their previous owners are no longer able to keep them, which means that most of them haven’t been ridden to death or neglected for too long. Of course, you should be a conscientious buyer and check for signs of flooding, accidental damage, or anything that might give you cause to believe that the vehicle is in poorer shape than advertised. Banks typically auction out newer models and have proof of the car’s mileage though, so you could get a car that’s in excellent shape and was released fairly recently for a fraction of the cost of buying from a dealer.

Summary

Buying a repossessed car isn’t without its risks, but if you know what to look for and are willing to put in the legwork, you could drive home with one that you can be proud of. Keep an open mind but arm yourself with as much information as possible, and don’t be afraid to ask questions before reaching for your wallet. Before long, you’ll be driving the car of your dreams.