Tag: dti

DTI Tightens Watch on Prices of Basic Goods Amid Oil Price Surges

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The Department of Trade and Industry (DTI) said it has intensified monitoring and enforcement efforts to keep prices of basic goods in check amid continued increases in global oil prices.

Trade Secretary Maria Cristina Aldeguer-Roque said the agency is banking on the commitment of manufacturers and retailers to hold off on price increases for basic necessities and prime commodities until at least April 16, with some items expected to remain stable until April 28.

Roque said the agreement was reached following consultations with industry players, as authorities moved to cushion the impact of rising fuel costs on consumers.

She added that most essential goods are covered by the arrangement, with several items maintaining current prices through the end of the month.

Weekly monitoring

Roque said the DTI will sustain close coordination with manufacturers and retailers as global market conditions remain volatile.

She said no agreement has been reached beyond the current timeline, but the agency will meet with stakeholders weekly or every two weeks given the unusual circumstances.

While there is no fixed cap on potential price adjustments, she said the goal is to keep any increases at a minimum.

Focus on enforcement

The DTI said monitoring and enforcement efforts are focused on supermarkets and grocery stores to ensure compliance with suggested retail prices.

Roque said inspections are being conducted in these establishments, where the agency has enforcement authority.

The agency also committed to promptly informing the public should any price adjustments occur.

Supply remains stable

Despite global pressures, the DTI said supply remains sufficient.

Roque said there are currently no issues on the supply side, even as oil prices continue to rise.

She added that government programs are in place to support small businesses, while economic activity remains steady, including trade events and online selling.

 

Original Article: https://www.gmanetwork.com/news/money/economy/981882/dti-tightens-watch-on-prices-of-basic-goods-amid-oil-price-surges/story/

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Korean Fast Food Chain Lotteria Eyes Philippines Launch

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MANILA, Philippines — South Korean fast food chain Lotteria is looking to enter the Philippines, according to the Department of Trade and Industry (DTI).

In a statement, the DTI said Trade Secretary Cristina Roque met with Lotte GRS and other South Korean conglomerates on May 16, in Seoul, with the discussions covering the firms’ planned investments and expansion into the Philippine market, particularly in the areas of food service, franchising and retail.

These companies aim to invest in joint ventures, master franchise agreements and localized operations.

The DTI said Lotte GRS, in particular, is preparing to launch its flagship brand Lotteria.

It said Lotte GRS, the restaurant service arm of the Lotte Group, is targeting to open at least 30 stores in over five years.

“This initiative has strong focus on local sourcing and workforce development,” the DTI said.

Other firms outlined plans to introduce modern convenience store formats to cater to the needs of the Philippine market.

The companies also emphasized their commitment to source locally, with over 95 percent of the products offered in their overseas stores coming from the host country.

The discussions also covered initiatives to integrate digital commerce platforms and strengthen last-mile delivery services.

Aside from food service and retail ventures, South Korean firms are also exploring opportunities in the import and export of Philippine agricultural and seafood products.

To learn more about opportunities for sourcing and partnerships, the South Korean firms are also scheduled to join local trade expos such as the IFEX Philippines and the World Food Expo.

During the meeting, Roque explained how the Philippines through its young and dynamic population of over 115 million and its strategic position in Southeast Asia offers opportunities for businesses.

She also highlighted the government’s efforts to provide an environment that is conducive for businesses.

In line with the aim to attract more incentives, the CREATE MORE Act, which seeks to enhance the incentives system, was signed into law last year.

“With the CREATE MORE law in place, our partners enjoy one of the most competitive and forward-looking incentive systems today – through smarter incentives, streamlined processes and a vibrant consumer base ready for innovation,” Roque said.

Original article: https://www.philstar.com/business/2025/05/25/2445516/korean-fast-food-chain-lotteria-eyes-philippines-launch