Business Brief Oct. 28, 2022

Business Brief: Harness MSMEs to Attract More Investments, Govt. Urged

The country's top conglomerates are asking the government to harness MSMEs to help make the country attractive to more investments.
3 mins read
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Happy Friday, ka-Ninjas! We’re back with the week’s important business news roundup relevant to your hustle.

Reduce bureaucracy, harness MSMEs: big guns’ pitch

THE country’s top conglomerates called on the government to zero in on “planting seeds” by reducing bureaucracy and harnessing the micro, small, and medium enterprises (MSMEs) as the country attracts more foreign direct investments (FDI).

Officials from SM Investments Corp., San Miguel Holdings Corp., and Aboitiz Equity Ventures believe the country should prove today that it is “planting the seeds” to make the country an attractive and viable investment destination.

Full story on Business Mirror

MSMEs urged to accept QR digital payments

GROWSARI, the leading B2B ordering and store solution platform in the Philippines, is targeting to have 200,000 sari-sari stores to start accepting QR payments by 2023.

sari-sari store QR payment
Image from Getty Images

The company has urged sari-sari stores to accept QR digital payments as part of its campaign for financial inclusion through safe payment platforms. It has noted that small physical retail sectors have always been underrepresented and underbanked, mainly because they are technologically marginalized and logistically difficult to organize as a group.

Read more on the Manila Bulletin

Taxmen train eyes on ‘Instagram Rich List’

THE Bureau of Internal Revenue (BIR) will look into the tax compliance of Filipino celebrities that were among the highest-earning personalities on Instagram. The tax authorities have eyes set on the so-called Instagram Rich List 2022 compiled by credit-score website NetCredit.

In August, BIR Commissioner Lilia Catris Guillermo said the tax bureau will run after social media influencers that are earning huge money and “big-time” online sellers.

More details on the Manila Bulletin

More phishing attacks expected during holidays

INTERNET security company Kaspersky expects more phishing attacks in the Philippines and its neighbors in Southeast Asia in the upcoming holidays, a company official said.

Phishing scam philippines
Image from Getty Images

In its report, Kaspersky said the rise in the percentage of phishing detections in the Philippine e-commerce industry puts the country in third place among its Southeast Asian neighbors, next to Malaysia (572.48%) and Indonesia (443.33%).

More in Business World Online

P307 billion railway projects to boost logistics activities

THE Department of Transportation (DOTr) wants to maximize three railway projects worth P307 billion for freight activities to quicken the flow of goods and services across the Philippines.

Transportation Undersecretary Timothy John Batan said that the agency is eyeing to utilize long-haul railways in Luzon and Mindanao to boost trade within the regions.


Philippines partners with Singaporean group to promote digital transformation

The Philippines is partnering with a Singapore-based non-profit group, International Centre for Industrial Transformation (INCIT), to collaborate in the promotion of innovation and digital transformation.

Incit Main Logo Wordmark And Text

INCIT is an Environmental, Social, and Governance (ESG) institution that champions Industry 4.0 adoption by manufacturers and advocates the rise of smart manufacturing. It is an independent non-profit entity that collaborates with both public and private sector manufacturing-related organizations, to catalyze and support industrial transformation across geographies and industries.

Full story on

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