The Philippines' chief economist expects to see a more vibrant industry sector in 2013 as the government focuses on key industries and strives to ease the processes and costs in doing business.

Having the second fastest growing economy in Asia and a stable political environment, the Philippines experienced a surge in investments, particularly in the high-end luxury sector of its hospitality market, according to a report by C9 Hotelworks.

More and more Chinese are coming to the Philippines again following a slowdown arising from the deepening of the territorial dispute between Manila and Beijing over the Scarborough Shoal early this year.

Two Philippines-based subsidiaries of Taiwan's electronics conglomerate Kinpo Group opened new factories in a Philippine industrial park south of Manila Wednesday.

Philippine President Benigno Aquino on Wednesday signed into law a 2.005-trillion-peso (US$49 billion) budget for 2013, vowing to use higher taxes on tobacco and alcohol to boost programs to reduce poverty.

One of the cheapest places in the world to light up is about to make smoking more expensive. In an effort to cut high smoking rates, Philippine lawmakers have voted to more than double the cost of cigarettes with hefty tobacco tax hikes on some popular brands.

The Philippine economy could expand at just below the minimum yearly average needed to curb poverty as it builds momentum for future years, according to trade leaders.

The Philippines continued to generate positive economic forecasts from foreign institutions following a surprise third-quarter growth.

The Philippines suffered a big drop in foreign direct investments (FDIs) in September in what officials claimed was due to global economic problems.

Hong Kong-based Energy World Corp. Ltd. is building an impressive power portfolio in the Philippines comprising natural gas facilities and renewable energy power plants, with investments possibly exceeding US$1 billion.