| Regional Affairs
PHL deemed ‘ready’ for ASEAN Community Business World Online 25th Apr 2016
The Philippines is prepared to face the challenges and opportunities the economic integration of the Association of Southeast Asian Nations (ASEAN) brings, particularly to smaller businesses, according to the Trade department. “The Philippines is a ready market,” Maria Roseni M. Alvero, assistant secretary of the Department of Trade and Industry (DTI) said in a forum on the ASEAN Economic Community (AEC) yesterday in Mandaluyong City. Discussions focused on “Accessing Market and Investment Opportunities to Support Inclusive Growth” in AEC. The forum was held by the Trade department, Asian Development Bank (ADB) and Management Association of the Philippines (MAP) in partnership with the Financial Executives of the Philippines and Philippine Institute for Development Studies (PIDS).
National Affairs
Duterte bares platform before Makati Business Club execs The Philippine Star 27th Apr 2016
Davao City Mayor Rodrigo “Rody” Duterte on Wednesday afternoon faced members of the Makati Business Club (MBC) and the Management Association of the Philippines to lay out his platforms if elected as president. During the 2016 Presidential Dialogues held at the Manila Peninsula, Duterte gave guests and businessmen a glimpse of his presidency outlook, as he enumerated his plans which include his three priorities: education, health, and agriculture. Duterte said he will not hesitate to copy the projects of President Benigno Aquino III and former president Gloria Macapagal-Arroyo if these benefit the people. He said he will continue public spending and projects that will alleviate traffic woes. Duterte was the third presidential candidate who served as the keynote speaker in MBC’s Presidential Dialogues. The other two were Sen. Grace Poe and Manuel “Mar” Roxas II.
Bizmen expected more from Duterte meeting: MBC exec ABS-CBN News 27th Apr 2016
Members of the Makati Business Club expected Davao City Mayor Rodrigo Duterte to explain his economic plans further during their meeting with the tough-talking politician on Wednesday. But their expectations were not met, as Duterte failed to go into the specifics of his plans. Speaking on ANC's "Top Story," Peter Angelo Perfecto, executive director of the Makati Business Club, said members where somehow expecting Duterte to detail his plans, much like what fellow presidential candidates Senator Grace Poe and Mar Roxas did in their previous meetings with the business community. "I think that was an expectation that he would spell out more concrete and more substantive policies, measures and plans which Senator Poe and Secretary Roxas did, and it was highly appreciated by the members. I think the members, in this particular meeting, went home a little bit...their expectations were not met," he said.
Duterte vows to allocate P18B for SMEs annually, abolish CARP Manila Bulletin 27th Apr 2016
Mayor Rodrigo Duterte, a presidential frontrunner in this upcoming national election for his crime-busting and anti-corruption stance, announced plans to allocate P18 billion a year for the small and medium enterprises and abolish the Comprehensive Agrarian Reform Program (CARP). In his first address to the Makati Business Club (MBC), which is composed of CEOs and business leaders based in the premier financial district of Makati, Duterte said that he would allocate P1 billion for each region or P18 billion annually if he will be elected, in order to wean the small entrepreneurs from the hands of the loan sharks. Duterte noted that small businesses are forced to avail of loans from the loan sharks because there is no institutionalized government agency that offers this kind of assistance. He said the Department of Trade and Industry (DTI) will be in charge of the loan assistance to these SMEs. CARP, or the Comprehensive Agrarian Reform Program, is the redistribution of public and private agricultural lands to farmers and farmworkers who are landless, irrespective of tenurial arrangement. However, this has caused more agricultural lands less productive and farmers not able to develop their lands for lack of resources. This is one particular part of his speech that drew bigger applause from the business community in an atmosphere that was described a little bit lukewarm to Duterte.
Marcos sustains solo lead in Pulse Asia survey The Philippine Star 26th Apr 2016
Vice presidential candidate Sen. Ferdinand “Bongbong” Marcos Jr. continues to secure his lead in the vice presidential race, according to the Pulse Asia survey released Tuesday. In the latest Pulse Asia Pulso ng Bayan nationwide survey, Marcos improved by four points and obtained 29 percent while his rivals Camarines Sur Rep. Leni Robredo and Sen. Francis “Chiz” Escudero ranked second and third with 24 and 18 percentage points, respectively. Escudero was closely followed by Sen. Alan Peter Cayetano with 16 percent while Sens. Gregorio “Gringo” Honasan and Antonio Trillanes rally behind them with 4 and 3 percentage points, respectively. Marcos was once again the top choice in Metro Manila with 39 percent and Balance Luzon with 37 percent while Robredo maintains her lead in the Visayan region with 33 percent. Running mate of leading presidential candidate Davao City Mayor Rodrigo Duterte, Cayetano, also maintained his lead among respondents in Mindanao with 34 percent. For the social classes, Marcos and Robredo dominated the lead in Class ABC with 36 and 32 percentage points, respectively. They also got 30 and 25 percentage points, respectively, from Class D, the biggest voting bloc. The recent Pulse Asia survey had 1,800 respondents and an error margin of ± 2.3 percent at a 95-percent confidence level. It also has error margins of ± 6.5 percent for Metro Manila, ± 3.5 percent for the rest of Luzon, ± 5.2 percent for Visayas, and ± 4.7 percent for Mindanao.
Duterte top choice across social classes in latest Pulse Asia poll The Philippine Star 26th Apr 2016
Presidential candidate and Davao City Mayor Rodrigo “Rody” Duterte led a Pulse Asia Survey anew, with a 12-point advantage over his closest rival. The Pulse Asia Pulso ng Bayan nationwide survey released on Tuesday was conducted April 16 to 20, covering the days when the mayor earned criticisms for his rape remark. In that survey, Duterte garnered 35 percent followed by Sen. Grace Poe with 23 percent. Meanwhile, Liberal Party standard-bearer Manuel “Mar” Roxas II and United Nationalist Alliance standard-bearer Vice President Jejomar “Jojo” Binay placed third and fourth with scores of 17 percent and 16 percent, respectively. Sen. Miriam Defensor-Santiago obtained a score of two percent. Based on the latest Pulse Asia survey, Duterte is the most preferred presidential bet in Metro Manila with 40 percent of respondents choosing him, Visayas with 32 percent and Mindanao with 58 percent. Poe is the top choice of Balance Luzon with 28 percent. Duterte also won over the respondents from all social classes: Class ABC with 43 percent, Class D with 32 percent and Class E with 40 percent. The latest Pulse Asia survey had 1,800 respondents and an error margin of ± 2.3 percent at a 95-percent confidence level.
Candidates urged: Address hunger, malnutrition The Philippine Star 25th Apr 2016
Child advocates yesterday urged candidates to push for a more comprehensive and efficient program to resolve the prevalence of widespread hunger and malnutrition in the country. Amado Parawan, Save the Children’s health and nutrition advisor, said more than just a feeding program is required to significantly reduce the high incidence of malnutrition among Filipino children. “Feeding programs can only address hunger. But that is a mere band-aid, short-term solution. It does not address the malnutrition problem,” Parawan said. “These candidates may need to re-evaluate their plans to solve child malnutrition by consulting experts regarding the globally accepted interventions versus malnutrition,” he said. Based on a survey conducted by the Food Nutrition Research Institute (FNRI) in 2015, the prevalence of stunting among children under five years rose to 33.4 percent while wasting is pegged at 21.5 percent and underweight at 7.1 percent. According to Save the Children International country representative Ned Olney, the Philippines posted the “worst increase” in malnutrition rate with one in two Filipino children considered stunted or short for their age.
Platforms, plans in debate The Philippine Star 25th Apr 2016
This time, the fireworks were toned down. Campaign platforms as well as issues close to voters were highlighted at yesterday’s debate in Pangasinan where the five presidential candidates faced off for the last time before the elections. The third and last debate had a “town hall” format wherein questions were posed by ordinary individuals, including a fisherman whose daily catch has been dwindling due to Chinese harassment, a debt-burdened overseas Filipino worker, and an employee stressed by the daily traffic. Political science professor Edmund Tayao of the University of Santo Tomas said last night’s debates was crucial as no presidential candidate can confidently claim victory in the May 9 elections. Tayao said the undecided voters, which some presidential contenders estimate at over 20 percent, will make a decision on who to vote partly on what they have seen in the debates. “This debate is very important because in the recent surveys, even if it appears that we have a frontrunner, the race is still tight,” Tayao told The STAR.
Comelec ready for hacking suit Manila Bulletin 25th Apr 2016
Officials of the Commission on Elections (Comelec) are ready to face whatever complaint or lawsuit that may be filed against them following the breach of the poll body’s database system by hackers. A few weeks before the May 9 elections, the poll body suffered a major cyber-attack, with voters’ records stolen by hackers. The stolen personal information of 56 million voters were reportedly put on display on a website last Thursday. The site allowed users to easily search for their biometric information online. The Comelec has already apologized to voters for the breach in their privacy, but downplayed the impact of the data leak on the integrity of the May 9 elections. Comelec Chairman Andres Bautista said the Comelec has already formed a committee to internally investigate the matter.
Duterte pulls away despite rape talk flap Business World Online 24th Apr 2016
Controversial Davao City Mayor Rodrigo R. Duterte has widened his lead over rival presidential candidates, according to a new Social Weather Stations (SWS) pre-election survey taken amid the uproar over his rape joke involving an Australian lay minister killed in a 1989 prison riot. Mr. Duterte posted a voter preference rating of 33%, according to a survey of 1,800 validated voters interviewed on April 18-20 (with sampling error margins of ±2 points). This was up six points from the 27% seen in the March 30-April 2 face-to-face survey, when he first snatched the lead from erstwhile frontrunner Sen. Grace Poe. In comparison, Ms. Poe’s standing steadied at 24% from 23% in the previous survey. The same survey saw Camarines Sur 3rd District Rep. Maria Leonor G. Robredo catching up with vice-presidential frontrunner Senator Ferdinand R. Marcos, Jr.
NCC moves to revise outdated laws The Philippine Star 24th Apr 2016
The National Competitiveness Council (NCC) is revisiting outdated regulations as part of efforts to further attract more foreign investments into the country. The NCC has began implementing Project Repeal, a program that aims to clean up regulations and legislation by revoking provisions or rules which are no longer necessary or which may be detrimental to the economy. NCC said the project was patterned after similar initiatives in Australia, South Korea and the UK. The local program, however, will focus on reducing the cost of compliance for businesses and entrepreneurs as well as the cost of administration and enforcement for the government.
World Bank to Philippines: Create land-valuation office Business World 19th Apr 2016
Nearly half of all land parcels in the Philippines remain untitled due to lack of documentation and the slow process in land titling, according to the World Bank.In its recently released East Asia and the Pacific Update, the World Bank said about 11 million, out of the total of 24 million parcels of land in the country, are untitled. As a result, the World Bank said millions of parcels of lands that remain untitled prevent and/or discourage investments in property development and undermine the government’s ability to collect taxes.“The high percentage of parcels [of land] lacking documentation is brought about by slow progress in the titling program and delays in the passage of a law authorizing streamlined titling of residential lands, and the absence of a complete cadastral map, which keeps track of the total lots during subdivision and consolidation,” the World Bank said.
Customs
Dry run of e2m transaction windows starts Apr 25 Port Calls Asia 17th Apr 2016
The Philippine Bureau of Customs (BOC) will pilot test beginning April 25 a program adopting transaction windows on its electronic-to-mobile (e2m) system, a move that effectively limits the time a user can submit transactions through this platform. Management Information System and Technology Group deputy commissioner Dr. Vladimir Dennis Reyes, in an email to BOC-accredited value-added service providers (VASPs), said the transaction windows need to be implemented as “mitigating measures given the condition of e2m.”
Fuel-marking system to foil illicit oil imports Business Mirror 26th Apr 2016
THE Bureau of Customs (BOC) is pursuing a fuel-marking system whose cost would be shouldered either by government, passed on to consumers or shouldered even by importers under a plan that continues to be crafted even now. This was learned from Customs chief Alberto D. Lina, who on Tuesday vowed to improve the collection of excise tax from local and foreign firms that import fuel to meet the country’s energy requirements. According to Lina, the planned fuel-marking scheme could cost from a low of 5 centavos to as high as 7 centavos per liter. With the new fuel-marking scheme, the BOC can easily determine if oil imports are smuggled. Whether the products are stamped as tax-exempt or tax-paid, as long as no markings are apparent, it will be considered as smuggled. He also particularly said strong enforcement and compliance would be key for the success of the program.
Laos, Philippines seek to deepen ties, cooperation The Jakarta Post 20th Apr 2016
The governments of Laos and the Philippines have agreed to explore ways to deepen their ties and expand economic cooperation during a visit by Philippine Foreign Affairs Secretary Jose Rene Almendras to Laos this week. Almendras's three-day official visit from April 18-20 is in response to an invitation from his Lao counterpart Thongloun Sisoulith, the Lao Ministry of Foreign Affairs said in a press release.
Defense & Security
Philippine troops hunt extremists who beheaded Canadian Associated Press 26th Apr 2016
The Philippine military came under increased pressure Tuesday to rescue more than 20 foreign hostages after their Muslim extremist captors beheaded a Canadian man, but troops face a dilemma in how to succeed without endangering the remaining captives. Abu Sayyaf gunmen beheaded John Ridsdel on Monday in the southern province of Sulu, sparking condemnations and prompting Canadian Prime Minister Justin Trudeau to pledge to help the Philippines pursue the extremists behind the "heinous act." It's a politically sensitive time for troops to carry out major offensives, at the height of campaigning in a closely fought race among four contenders in the May 9 presidential election. President Benigno Aquino III and opposition politicians have had differences over the handling of the Muslim insurgency and the social ills that foster it. The Abu Sayyaf began a series of large-scale abductions after it emerged in the early 1990s as an offshoot of a separatist rebellion by minority Muslims in the southern Philippines. It has been weakened by more than a decade of government offensives, but has endured largely as a result of large ransom and extortion earnings. The United States and the Philippines have both listed the group as a terrorist organization.
Indonesia to set up ‘crisis center’ after Philippine kidnappings -- minister Business World Online 25th Apr 2016
Indonesia will set up a crisis center, headed by President Joko Widodo, to handle security situations involving its citizens overseas, a senior minister said on Monday, following recent abductions of Indonesian sailors in Philippine waters. The center will include senior ministers and military and police chiefs and will be designed to respond quickly to situations that could have a “strategic impact,” chief security minister Luhut Pandjaitan told reporters. “We hope this will be [operational] as soon as possible,” he said. Since coming to power in 2014, Mr. Widodo has placed maritime security for the Indonesian archipelago high on his government’s agenda. Indonesia has voiced fears that a surge in piracy in the waters between Indonesia and the Philippines could reach Somalian levels and has told vessels to avoid danger areas.
Defenses vs hackers eroded by tight budgets Business World Online 25th Apr 2016
Philippine companies and government agencies put cybersecurity on the back burner due to budget constraints, a local computer consultant said, as it called on organizations to “stop scrimping” on online security measures in the wake of the massive hacking of the Commission on Elections (Comelec) Web site. “Unfortunately, particularly here in the Philippines, many organizations do not give security strategy the level of importance it requires,” Accent Micro Technologies, Inc. (AMTI) said in a statement on Monday. “Due to limited budget allocations, security strategy and layers of protection rarely get prioritized.” AMTI pointed out that companies do not change the level of their security systems even as the data being protected grows “exponentially.” The March 27 hacking and defacement of the Comelec Web site is potentially the world’s biggest government-related data breach, exposing 54.4-million registered Filipino voters to identity theft and online fraud.
DND to buy P40 M spare parts for C-295 The Philippine Star 25th Apr 2016
With its brand new C-295 Airbus, the Department of National Defense is set to procure P40 million worth of additional integrated logistics support this year. The DND said the amount would be sourced from the military’s Modernization Act Trust Fund for purchase of 47 line items of aircraft ground support equipment. In layman’s terms, the line items refer to spare parts that would be needed for the aircraft’s maintenance in the next three years.
New air contingent in Philippines will bolster relations but could aggravate China Air Force Times 23rd Apr 2016
Amid heightened tensions with China over its territorial claims in the South China Sea, the Air Force sent an air contingent to Clark Air Base in the Philippines April 16. The move came just two days after Secretary of Defense Ash Carter and Philippine Defense Secretary Voltaire Gazmin announced an "enhanced military alliance" between the two countries in Manila. The rotational force includes five A-10C Thunderbolt IIs from the 51st Fighter Wing at Osan Air Base, South Korea, and three HH-60G Pave Hawk helicopters with the 18th Air Wing out of Kadena Air Base, Japan, and more than 200 airmen from various Pacific Air Forces units. They include aircrew, maintainers, logisticians and support personnel.
Vietnam Defense officials in Philippines Update PH 15th Apr 2016
A delegation of Vietnamese defense officials visited the Philippine Air Force April 14. The Vietnamese delegation were primarily in the country for the Philippine-Vietnam Vice Minister Defense Dialog and Defense Cooperation Working Group Meeting. The Vietnamese delegation is headed by Vietnam Ministry of National Defence-Institute for Defense Strategy Director General Lieutenant General Nguyen Duc Hai. Joining him are Major General Vu Tien Trong, Senior Colonel Hoang Kim Phung, Senior Colonel Nguyen Thanh Ha, Senior Colonel Nguyen Tien Bac, Lieutenant Colonel Nguyen Van Tang, Major Pham Tan Phong, and Mr. Dao Quang Anh.
Carter: Balikatan Exercise Demonstrates Close U.S., Philippines Relationship Department of Defense 15th Apr 2016
he United States and the Philippines have stood together for 65 years, and America’s commitment to the former U.S. territory is “ironclad,” Defense Secretary Ash Carter said at closing ceremonies for the 32nd annual bilateral Balikatan exercise. The secretary emphasized the meaning of the Filipino word Balikatan -- “shoulder-to-shoulder” -- and thanked the armed forces of both nations for their dedication to the exercise and the U.S.-Philippines alliance. Officials said the exercise improves the ability of both nations to work together during planning, contingencies and humanitarian assistance and disaster-relief operations. The results of the two-week exercise in the archipelago of more than 7,000 islands bordered by the South China and Philippine seas, were “exemplary,” Carter said. Together, the two nations’ militaries provided medical care to local communities, improved joint command and control, and rehearsed maritime interdiction operations to expedite responses to threats on the seas, the defense secretary added.
Beyond Balikatan, Troubling Questions for Philippine Security Post-Aquino cogitASIA 15th Apr 2016
The United States and the Philippines held their annual Balikatan military exercises from April 4 to 15. This year’s exercise is worth noting for several reasons. Just under 100 Australian troops joined the 8,500 U.S. and Philippine forces for the second straight year. The Vietnam People’s Army and Japan Self Defense Force also sent observers to the exercise for the first time. The Philippines is keen to deepen defense relations with the United States and other regional partners in the face of growing Chinese assertiveness and in anticipation of the expected retaliation from China when the Permanent Court of Arbitration makes its ruling, expected in mid-2016. However, domestically, despite having 15 years of U.S. assistance in training and equipment in support of its counter insurgency in the southern Philippines, the Armed Forces of the Philippines continues to underperform. The $50-million-a-year in assistance and presence of U.S. forces have yielded paltry results, and a small group of poorly armed and localized Abu Sayyaf attackers continues to operate in the south. This is a group with no ideology, no popular support beyond kinship ties, no social welfare offers, and without a narrative; and yet the Philippine armed forces remain incapable of eliminating it.
Economics
Philippines found still competitive in wage terms vs China, some peers Business World Online 26th Apr 2016
Professionals in the Philippines receive salaries lower than counterparts in China and some Southeast Asian peers, a finding that serves a double-edged sword for the country, according to a global professional services firm. In its 2015/2016 Global 50 Remuneration Planning Report released yesterday, Willis Towers Watson noted that base salaries in the Philippines, Vietnam, Malaysia and Thailand are about half those of China. Professionals, senior management and top management earn 5% to 44% more in China than in Indonesia, the most expensive labor market among emerging economies in the Association of Southeast Asian Nations (ASEAN), whose most advanced member, Singapore, is classified by the report as a developed economy. On average, entry-level professionals in China receive an annual base salary of about $21,000, compared to $16,000 paid to their counterparts in Indonesia. The Philippines and Vietnam recorded the lowest average base salaries for professional and middle management positions in ASEAN, paying 1.9 to 2.2 times lower than China.
PEZA investments up in January-April The Philippine Star 25th Apr 2016
Investment pledges in economic zones are expected to rise by double digits as of April, underscoring continued positive foreign investor sentiment. “Investments are very positive. We are seeing very high rate of investments as of April. It has registered a double digit increase,” said Elmer San Pascual, public relations manager at the Philippine Economic Zone Authority. He did not specify any figures. San Pascual said the country’s positive economic performance and strong workforce remain as its major assets in attracting new investments. Stable labor relations climate in the Philippines also made it a desirable investment and business destination for foreigners. In 2015, approved investment commitments from PEZA increased 5.58 percent to P295.09 billion from P279.48 billion the previous year. For this year, the agency expects its total approved investment pledges to grow by as much as eight percent on continued robust outlook of foreign investors to the country.
Election run-up expected to dominate investors’ concerns in next two weeks Business World Online 24th Apr 2016
The election will be at the forefront of investors’ minds, possibly dragging the Philippine equities market lower in the next two weeks. “Anything can still happen with the elections so it really won’t be 100% factored in,” Raul P. Ruiz, vice-president and research head of RCBC Securities, Inc., said in a mobile phone message last week. “[Any relief over a smooth] turnover [of power] will consequently still be weighed down by investors’ concerns over developments that could come from that.” The Philippine Stock Exchange index may undergo a short-term correction to 7,000 within the next two weeks, dragged by the uncertainty surrounding the May 9 national elections, AB Capital Securities, Inc. Head of Research Jose A. Vistan, Jr. said in a telephone interview last week.
BSP gearing up for interest rate corridor rollout Business World Online 24th Apr 2016
The Bangko Sentral ng Pilipinas (BSP) will formally roll out its planned interest rate corridor system towards the end of the quarter as the central bank eyes to conduct simulations and strike formal deals with banks and trust entities ahead of the launch. “As we have said, the target implementation for the interest rate corridor system will be somewhere close to the end of the second quarter this year,” Francisco G. Dakila, Jr., managing director at the BSP’s Monetary Policy Sub-Sector, said in a press briefing last Friday. “Later on we will make a detailed announcement on when will be the actual date that the corridor system will be online, but behind the scenes there are a lot of preparations already being done.” In September last year, the central bank announced plans to shift to a corridor-type system of setting interest rates, complemented by the auction of term deposits to better guide market rates while also mopping up excess liquidity in the financial system. As planned, the special deposit account (SDA) rate will serve as the floor, which is currently set at 2.5%. The 4% overnight borrowing or the reverse repurchase rate (RRP) will be the key policy rate, while the 6% repurchase rate will serve as the corridor’s ceiling.
Growth pickup seen this semester Business World Online 22nd Apr 2016
Robust factory production and increased infrastructure investments, on top of continued strong household spending, are expected to drive faster growth this semester that will likely see subdued inflation as well, the Bangko Sentral ng Pilipinas (BSP) said in a report it released on Friday, adding that these conditions should enable it to keep monetary policy steady for now. The assessment -- contained in the central bank’s first-quarter inflation report -- comes less than a month before the government is scheduled to release on May 19 gross domestic product (GDP) data for the same three months and, six days prior to that, statistics on expansion in the same period of the agriculture sector that accounts for a third of the country’s workers but contributes just a tenth to national production. “Measures of domestic economic activity continue to be positive despite indications that global economic growth has been slower than anticipated,” the report read. “At the same time, although inflation pressures remain largely subdued, the sustained buoyancy of domestic demand continues to allay concerns on potential deflationary pressures,” it added.
Energy
EU remains Philippines's largest investor in renewable energy The Philippine Star 26th Apr 2016
The European Union (EU) continues to be the largest investor for renewable energy in the Philippines, its top envoy has said. “With a record high P90 billion (€1.74 billion) reported investments in 2015, 37 percent of total, the EU continues to be the largest investor in the Philippines,” EU ambassador Franz Jessen said last Friday. More importantly, we invest in sectors that matter in terms of job creation and technology transfer. This is an excellent example where Philippine and European industry comes together for the benefit of sustainable development. We want more of that,” he said. In his remarks during a visit at the Energy Development Corp. in Burgos, Ilocos Norte. Jessen commended the efforts of the private sector in supplying and harnessing renewable energy in the country.
SN Aboitiz needs OK for 350 MW Ifugao hydropower plant The Philippine Star 25th Apr 2016
Consent from affected stakeholders is critical for SN Aboitiz Power Group (SNAP) to finalize plans for the planned 350-megawatt (MW) hydroelectric power facility in Ifugao, a ranking official said. The company is currently conducting a feasibility study for each component of the integrated hydropower complex in Lagawe, Ifugao, SNAP executive vice president and chief operating officer Joseph Yu told reporters. The approved renewable energy service contract (RESC) for the project is composed of the 100-MW Alimit hydroelectric power plant (HEPP), the 240-MW pumped storage facility, and the 10-MW Ollicon HEPP. “The Alimit (facility) has three components, namely the Alimit HEPP, the Olilicon HEPP and the pump storage, and all three will be evaluated in their own merit,” Yu said. When asked when the project will be completed, Yu said there is still a lot of work to be done before pushing through with the construction.
ERC mulls separate CSP guidelines for RE projects Manila Bulletin 24th Apr 2016
Separate guidelines on competitive selection process (CSP) for renewable energy (RE) projects are being thought out, primarily taking into account the uniqueness and peculiarities of some emerging technologies. Energy Regulatory Commission (ERC) Chairman Jose Vicente B. Salazar has indicated this to media as he took note of the concerns raised by some industry players on the seeming inability of RE to compete with other technologies, primarily with coal on the price aspect. In the proposed contracting round for RE, the ERC chief noted that they shall also weigh how RE investments can still be encouraged – essentially with the calls of some sectors for the country to finally veer away from the feed-in-tariff-laden project implementations.
Philippines signs Paris climate accord at UN The Philippine Star 22nd Apr 2016
Environment Secretary Ramon Paje signed yesterday the landmark international climate agreement reached in Paris last December and appealed for other nations to immediately work toward reducing their greenhouse gas (GHG) emissions. In a ceremony at the United Nations headquarters in New York, Paje said that nations should not wait for the full implementation of the Paris climate accord in 2020. The climate agreement was adopted by 196 country-participants in the 21st Session of the Conference of the Parties to the UN Framework Convention on Climate Change in Paris, France last Dec. 12. “Our contribution to the global problem on climate change is admittedly a droplet in the well, but streams, lakes and oceans are all composed of mere droplets. We cannot do this alone,” Paje said. He added that the Philippines signed the deal hoping that all signatories would also begin implementing their respective intended nationally determined contribution (INDC), which is a long-term commitment to curb GHG emissions and the identification of climate mitigation and adaptation actions beyond 2020. The Philippines committed to reduce by 70 percent its carbon emissions by 2030. The reduction will come from the energy, transport, waste, forestry and industry sectors.
PH energy policy needs review, CCC says GOVPH 19th Apr 2016
The Climate Change Commission (CCC) on Monday said the government should review its energy policy to step away from the use of coal and tap more renewable resources to meet the country’s power supply requirements. “Updating our roadmap to massively favor clean sources will allow the Philippines to be at the forefront of this aggressive and massive trend of investment and transition from fossil to renewable energy. This allows the Philippines to not only contribute to global efforts to combat climate change but reduce growing economic and financial risks associated with carbon intensive energy sources such as coal,” Secretary Emmanuel De Guzman, vice chairperson of the CCC said.
Paje to sign Paris Agreement on climate change Manila Bulletin 19th Apr 2016
Secretary Ramon Paje is heading to New York to represent President Aquino in the formal signing of the Paris Agreement and to deliver the Philippine statement at the United Nations (UN) Headquarters on April 22. The covenant signifies the country’s commitment to curbing carbon dioxide and other greenhouse gas (GHG) emissions. “As one of the countries most vulnerable to climate change, the Philippines is firm on its stand on limiting its GHG emissions,” Paje said. “We are committed to enjoin the participation of more sectors in the decision-making process so that together we can all scale up our efforts in reducing emissions, building resilience, and decreasing vulnerability to climate change impacts,” he added.
Palace sounds alarm on tight power supply, urges public to conserve electricity, water Manila Bulletin 19th Apr 2016
Malacañang sounded the alarm yesterday on the tight power supply problem facing the country and appealed to the public to conserve electricity and water during the summer months. It was also quick to deny speculations that the government was deliberately causing the power outage in time for the May 9 elections. “There is no basis, there is no truth to that allegation,” Presidential Communications Operations Secretary Herminio Coloma Jr. said, adding that the Department of Energy (DOE) is actually moving relentlessly to ensure stable power supply a week before and after the elections.
Basic Energy earmarks P22M for geothermal exploration Business World 19th Apr 2016
In its 2015 annual report filing with the stock exchange, the company also said there might be a need for it to “raise additional funds to further develop its other geothermal energy projects.” “There are plans to increase its present manpower staff or engage the services of consultants when needed for the technical requirements and acquire additional computer equipment for these projects,” Basic Energy added. The company committed to drill by July 2016 an exploration well in Mabani, Batangas under geothermal service contract (GSC) No. 8 for which it has secured the required permits, leases and licenses.
Financial Services
BPI launches govt, PHL equity indices to track financial-market performance Business Mirror 25th Apr 2016
THE Bank of the Philippine Islands (BPI), the oldest bank in the Philippines and in Southeast Asia, launched its own index series on Monday to measure the performance of the Philippine financial market. “The country is seeing good growth and we need indices,” said Cezar Consing, BPI president and CEO. Of the eight indices to be made available by the end of the month, six will reflect on the performance of the Philippine government: BPI Government Bond Index, BPI Government Bond 1-3 Year Index, BPI Government Bond 1-5 Year Index, BPI Government Bond 5+ Year Index, BPI Government Liquid Bond Index, and the BPI Government Money Market Index. BPI will also introduce the Philippine Equity Index to track equity portfolios where dividends are reinvested, providing an alternative to measuring equity returns. The liquidity criteria include stocks falling above the 75th percentile with the minimum free float of 12 percent. The BPI Philippine Corporate Index will be the first index that will track the debt of Philippine corporations relevant to the demand of investors for corporate bonds with higher revenues.
PSE: SEC should enter into deals with Asean peers on stock trading Business Mirror 25th Apr 2016
THE Philippine Stock Exchange Inc. (PSE) said the government should enter into mutual recognition agreements with its regional peers in Southeast Asia, mainly on buying and selling stocks. PSE President and CEO Hans Sicat told reporters it is “high time” that the Securities and Exchange Commission (SEC) allow foreign shares to be traded and sold domestically, without having to go through the tedious process of registering their stocks locally. Sicat said top Asean countries Thailand, Singapore and Malaysia have already forged a mutual recognition agreement and could trade shares with one another. “In other words, these countries are now doing mutual recognition, similar to a bilateral or multilateral agreement. These countries have relied on their respective regulator’s counterparts,” he said.
Banks told to tighten guard in wake of Comelec data breach Business World Online 22nd Apr 2016
Banks must take extra care in profiling customers, the Bangko Sentral ng Pilipinas (BSP) said on Friday, in the wake of the massive leak of voter data kept by the Commission on Elections (Comelec). Through Memorandum 2016-005, the BSP pressed all banks and other supervised financial entities to “exercise extra vigilance” following the reported leakage of sensitive voter information after the poll body’s Web site was hacked last month. To guard against the possible misuse of stolen voter data, banks and similar entities should require additional information from clients -- apart from those available with the Comelec -- in order to verify their identity. “Customer identification procedures of BSFIs (BSP-Supervised Financial Institutions) that rely on static information which may be obtained from the disclosed Comelec records should be supplemented by requests for additional proof or secondary information to establish the true identity of new and existing clients,” read the order that was signed by BSP Deputy Governor Nestor A. Espenilla, Jr. on Friday.
Microinsurance eyed as a disaster preparedness tool Business World Online 22nd Apr 2016
Davao City -- Cebuana Lhuillier Insurance Solutions, along with the Insurance Commission (IC) are actively campaigning to popularize microinsurance as a tool for disaster and climate change preparedness, with the Philippines ranked among the most disaster-prone countries in the world. “There are four phases of disaster namely preparedness, mitigation, response and recovery. Lhuillier wants to zero in on disaster preparedness through microfinance,” Jonathan D. Batangan, general manager of Cebuana Lhuillier Insurance Solutions, said during a Disaster Resilience Forum held in the city Thursday. The company has been conducting a series of educational roadshows around the country since January this year to promote microinsurance awareness. Mr. Batangan said Filipinos, especially low-income earners, can best prepare themselves for any man-made or natural disaster by investing in microinsurance with lower premiums and guaranteed benefits.
Philippines' tax bureau taps mobile payment for tax collection Enterprise Innovation 19th Apr 2016
The Philippines' Bureau of Internal Revenue (BIR) has partnered with Globe Telecom's GCash mobile money service for its tax collection effort. It said the goal is to improve tax collection and administration, curb corruption, and strengthen business climate in the country. "The continuous payment of right taxes will continue and sustain the growth of the Philippines," said BIR Commissioner Kim Henares in a statement. "The bureau aims to increase funding contribution for the country’s growing needs for basic infrastructure and social programs necessary to reduce poverty, thus, the government continues to push for the growth of the country’s fiscal space."
PLDT ICT unit: Banks must step up measures vs cyber crimes Rappler 18th Apr 2016
The information and communications technology (ICT) arm of the Philippine Long Distance Telephone Company (PLDT) – soon to be called PLDT, Incorporated – urged local banks to improve security measures, as the country's vulnerability to cyber crimes statistically doubled in the past years. Rene Huergas, president of IP Converge Data Services Incorporated (IPC), said all banks should check on their current data security setup, as even the most secure institutions are not safe from the alarming increase in crimes perpetrated online, particularly Distributed Denial-of-Service (DDOS) attacks.
Philippines: Minimum capital of US$2.2 mln proposed for HMOs Asia Insurance Review 14th Apr 2016
The Insurance Commission (IC) is proposing requiring new Health Maintenance Organisation (HMOs) to have a minimum paid-up capital of PHP100 million (US$2.2 million). According to the draft circular, all existing HMOs must have a minimum paid-up capital of at least PHP10 million, reported the Manila Times. These existing HMOs obtained their licence from the previous regulator, the Department of Health (DOH), and those which renewed their licence with the IC in December 2015.
Food & Agriculture
PHL to rely on imports as cacao self-sufficiency remains elusive Business Mirror 26th Apr 2016
Local chocolate makers are expected to continue importing cocoa, as cacao farmers may not be able to produce as much as 100,000 metric tons (MT) of cacao beans by 2020, an industry leader said on Tuesday. Cocoa Foundation of the Philippines President Edward David said the local cacao industry may not be able to meet the production target under the government’s road map and an initiative dubbed as the “2020 Cacao Challenge.” David said natural calamities have been largely responsible for the expected failure of local producers to increase output to 100,000 MT by 2020. The 2020 Cacao Challenge is an initiative of the local cacao industry and the national government to increase the country’s production and outward shipments of cacao beans. Farmers have targeted to raise the number of cacao trees in the Philippines to about 50 million trees, which could yield 100,000 MT of cacao beans per year.
DA eyes 50% budget hike The Philippine Star 26th Apr 2016
The Department of Agriculture (DA) is proposing a more than 50 percent increase of its budget under the 2017 outlay with the bulk allotted for capital outlay. Based on the latest DA-National Agriculture and Fisheries (NAF) council meeting, the proposed budget will be pegged at P83.6 billion, up 55 percent from the P54 billion approved this year. The figure will still be subject to deliberations with the Department of Budget and Management. Part of the department’s priorities next year include increasing investments in rural infrastructure, logistics, and research and development and additional support to the rice sector in anticipation of the possibility of trade liberalization. Some P19.2 billion will be allocated for farm-to-market roads (FMRs), 160 percent higher than the allotted P7.4 billion this year.
Mindanao’s 9% growth target to depend on backing for agri Business World Online 25th Apr 2016
Davao City -- Mindanao’s lead socio-economic development coordinating agency is planning around an aggressive growth assumption of 9% for gross regional domestic product (GRDP) heading towards 2030. Romeo M. Montenegro, Mindanao Development Authority (MinDA) investment promotions and public affairs director, said it is a rather “ambitious goal” but it can be achieved given Mindanao’s growth in the past six years and if more support is directed towards the agriculture sector. “We’ve been contributing agri-products [40%] and food trade [30%] and in fact many of the exported commodities in the Philippines are mostly [from] Mindanao,” Mr. Montenegro told representatives of the business sector in a recent back-to-back forum held in the cities of Cagayan de Oro and Davao. Mindanao is the main producer of coconut, banana and pineapple, among the top Philippine export products, as well as the biggest source of high-value products such as coffee, cacao, palm oil and rubber.
New bank accredited for Agri-Agra act compliance Business World Online 25th Apr 2016
The Bangko Sentral ng Pilipinas (BSP) has named 10 rural banks which bigger entities can tap to fulfill their mandate of handing out loans to the farming sector. The central bank under Circular Letter 2016-034 identified accredited rural financial institutions (ARFIs) which bigger banks can use to comply with Republic Act (RA) 10000 or the Agri-Agra Reform Credit Act of 2009. Signed on Feb. 23, 2010, the law requires banks to set aside 25% of its total loanable funds as credit quota for the agriculture and fisheries sector. Broken down, banks must allot 10% of their loanable funds to agrarian reform beneficiaries and a separate 15% to farmers and fisherfolk. Direct compliance can be made through the actual extension of loans to qualified borrowers and the purchase of eligible loans from duly accredited financial institutions as named by the BSP.
Poe vows to protect agri workers The Philippine Star 25th Apr 2016
To ensure social protection for agricultural workers, presidential candidate Sen. Grace Poe is planning to tap local government units (LGUs) and urge them to set aside a portion of their budget to subsidize the social security premiums of small farmers and fisherfolk. Poe, who is running on a platform of genuine inclusive growth, also wants agricultural workers to be covered by the government’s health insurance program as they are exposed to different forms of hazards and have no money for health emergencies. “We are focused on helping the poor, and the agriculture program is key – our farmers need protection and insurance,” Poe said in Filipino during a recent speech in Nueva Ecija, one of the largest agricultural provinces in the country.
El Niño less damaging to rice than expected Business World Online 21st Apr 2016
The Department of Agriculture (DA) has maintained its palay production estimate for 2016 at just under a million metric tons (MT) over 2015 levels, saying it is confident that damage from the strongest El Niño to ever hit the country will be less than initially expected. “We’re still targeting 19 million MT,” Department of Agriculture Chief Proceso J. Alcala told reporters on the sidelines of the Agri-Pinoy awards on Tuesday. In 2015, palay production was 18.15-million MT, down 4.31% from a year earlier. On DA’s expectation of a possible contraction in the first quarter, Mr. Alcala said: “What’s possible is that if palay dips big time, it will be only one third of projected damage loss.” The DA said the forecast, prepared at the tail end of 2015, anticipated palay losses from the El Niño at 957,000 MT. “But as of April 14, reports say that lost palay production is just at 233,000 MT,” said Mr. Alcala. When asked if palay output can recover in the second quarter from the projected dip in the first three months of the year, Mr. Alcala said: “The second quarter marks the beginning of the summer cropping. If it does not dip so much, that would be good enough for us.”
Irrigation held back by inefficiencies, deteriorating environment -- PIDS Business World Online 21st Apr 2016
Underdevelopment, mismanagement and environmental degradation have kept the irrigation sector from delivering expected results, according to a paper produced by a government think tank. In a discussion paper, Philippine Institute for Development Studies (PIDS) researchers headed by De La Salle University Professor Arlene B. Inocencio identified key institutional and technical constraints to improving performance of both national and communal irrigation systems. The think tank released the study titled: “Technical and Institutional Evaluation of Selected National and Communal Irrigation Systems and Characterization of Irrigation Sector Governance Structure” for public discussion this month. The study evaluated 66 communal irrigation systems and 22 national irrigation systems in 16 provinces in Luzon. It forms part of PIDS’ research project to evaluate the effectiveness and impacts of key government programs and projects.
Rice farming, trading, smuggling and electioneering Business World 19th Apr 2016
Several issues related to rice farming and trading in the Philippines hogged the news recently. The first of course is the big El Niño and crop failure in many provinces in the country and many other tropical countries. Second, the farmers’ rally in Kidapawan, Cotabato that turned bloody early this April. And third, on large-scale agricultural smuggling including rice.
Health & Life Sciences
World's first dengue vaccination in Philippines sees few ill-effects The Star 19th Apr 2016
The Philippines' health ministry has said that nearly 150,000 children in the country have now received doses of the world's first dengue vaccine. Only 240 children - or 0.16 per cent - suffered adverse effects such as fever, dizziness and headaches, health officials said at a news briefing.
The future of healthcare Manila Times 17th Apr 2016
If you could skip the long hours of waiting in your doctor’s office and instead consult with her through Skype or FaceTime in the comfort of your own bed, would you? If the market could produce a wearable device that monitors your vital signs, including the quality of your sleep or the air around you, and automatically send this data to your physician on a regular basis, would you buy it? If a robot could perform precision surgery on you, would you let it? In a report entitled “Healthcare and Life Sciences Predictions 2020: A bold future,” the Deloitte Centre for Health Solutions posits that we are not very far from this new world of healthcare. Looking at trends, developments and small but bold steps in the healthcare marketplace, Deloitte researchers have made a number of exciting predictions that patients, healthcare professionals and life science organizations would find interesting.
Plans and promises: Presidential bets on health Rappler 17th Apr 2016
Among the government agencies that saw significant budget increases in recent years is the Department of Health, thanks to revenues resulting from increased excise taxes. The sin tax law is just one of the many landmark health legislations enacted under the Aquino administration. There's the controversial reproductive health law in 2012, the graphic health warning law in 2014, and the amendment of the Expanded Senior Citizens Act to provide health insurance to all senior citizens.
DOH warns of rise in dengue cases amid El Niño Sun Star 15th Apr 2016
The Department of Health (DOH) warned the public on Friday, April 15, against the possibility of dengue cases soaring amid the drought brought by the El Niño phenomenon. In a statement, Health Secretary Janette Garin said the lack of water supply does not mean that the public can already be complacent against dengue-carrying mosquitoes.
ICT
PH ranked 89th in e-commerce growth Inquirer 25th Apr 2016
The Philippines ranked 89th out of 137 countries and territories worldwide in terms of readiness to support online shopping and other business-to-consumer electronic commerce (or B2C e-commerce), according to the United Nations Conference on Trade and Development (Unctad). Among emerging economies in Asia and Oceania, the Philippines ranked 9th in the Unctad’s B2C E-commerce Index 2016. In comparison, neighboring Malaysia ranked 4th among developing economies in the region and 10th among such economies worldwide. The updated index is composed of four indicators: Internet-use penetration, secure servers per one million inhabitants, credit-card penetration and a postal reliability score. The index showed Internet penetration in the Philippines at 40 percent. Among adult consumers, only 3 percent have credit cards. There are only 52 secure servers, very important for purchasing online, per million people. Also, the Philippines was rated 48 percent in terms of the reliability of postal services based on data from the Universal Postal Union.
IPOPHL launches its new electronic filing system Manila Bulletin 25th Apr 2016
The Intellectual Property Office of the Philippines (IPOPHL) launched its new electronic filing system known as the IPOPHL TM eFile as part of the World IP Day Celebrations. The IPOPHL eTMfile allows the online filing of new trademark applications 24/7 and is linked to three different payment channels. With IPOPHL eTMfile, applicants and IP agents need not go to the IPOPHL to file trademark applications. IPOPHL eTMfileis one of the new initiatives of Director General Josephine Rima-Santiago, who assumed the top IPOPHL post less than six months ago, to modernize the eServices for use by IPOPHL stakeholders. According to Director General Santiago, “the IPOPHL began enhancing its IT systems with the deployment of the Industrial Property Automation System (IPAS) as the new back office system for patents and trademarks in 2012. Now, we are focusing on tools that will modernize electronic transactions with the IPOPHL, starting with the new IPOPHL eTMfile.”
Special report: Government ICT neglected for past 2 decades The Philippine Star 25th Apr 2016
Two decades of zero agency funding that ended only three years ago highlight the government’s lagging information technology (IT) system, where more than half of the bureaucracy remains not connected and at risk to cyber attacks. A major breach of more than 70 million data from the Commission on Elections (Comelec) last week show the need to invest on cyber security as the economy expands fast, thereby attracting increasing amount of data and information. “Large databases will be developed by businesses and governments that will need to make investments in network security to prevent fraudulent transactions and various cybercrimes,” said Jose Ramon Albert, senior researcher at Philippine Institute for Development Studies.
PLDT seeks to expand Cebu data center Business World Online 24th Apr 2016
PLDT, Inc. will complete its data centers in Makati City and Clark, Pampanga by mid 2016 and will expand the Cebu facility as it targets to digitize government operations in the next administration. “We’re doing the final touches for the completion of [the] Makati [data center]. It’s financial grade, good enough for banks. Clark is not very far behind,” PLDT Executive Vice-President Ernesto R. Alberto told reporters on the sidelines of Friday’s TechIsland 3.0 conference at Hotel Sofitel Philippine Plaza Manila. After completing the facilities in Makati and Clark , he said PLDT’s total rack capacity will be at 8,300 by the time it opens in June or July. Currently, total rack capacity is 3,340. “We’re looking at further expanding Cebu because of demand. Its around 150 racks are almost filled up and we will review the demand forecast in the next two weeks,” Mr. Alberto said.
Govt crafting interim natl broadband plan Business Mirror 22nd Apr 2016
THE government is in the process of crafting an interim broadband plan to improve the quality of the Internet in the country, as data services are now seen as the next frontier for both large companies and for micro, small and medium enterprises (MSMEs). National Telecommunications Director (NTC) Edgardo V. Cabarios said the National Economic and Development Authority (Neda), the Information and Communications Technology Office (ICTO) and his office have started rounding up ideas on how the industry must move forward five years from now. “The National Broadband Plan is being drafted. We are proposing several items on the plan, which should identify three areas: First, areas where the government should put up infrastructure; second, where the government should subsidize; and, last, areas where the private sector can freely compete in the market,” he told the BusinessMirror in an interview.
With Manila office, Facebook aims to connect with business Business World Online 21st Apr 2016
Internet giant Facebook on Thursday officially opened its Manila office, as the tech giant seeks to connect its more than 49 million Filipino users not just with friends and family but with businesses as well. “One of the objectives of why we set up the office here is to better serve...businesses,” Dan Neary, vice-president for Asia-Pacific of Facebook, said during Thursday’s launch at Shooting Gallery Studios in Makati. Mr. Neary noted Southeast Asia is the fastest growing region for the company with the Philippines playing a large role in the said growth. Based on its internal data as of Dec. 2015, more than 49 million Filipinos use Facebook every month, representing 91% of Internet users in the country. Of the total, more than 27 million check Facebook every day.
Infrastructure
DOTC still aiming to bid out, award 7 PPP contracts in next two months Business Mirror 26th Apr 2016
Completing the tender process for over P128 billion worth of transport-infrastructure deals is a tall order for its implementing agency, but despite the limited time that it has on its clock, the government is still hopeful that it can still award these seven projects before the end of the current administration. The clock is ticking faster for the transportation department that, within a period of two months, the agency must award the P108.2-billion Regional Airports Development Program, the P19-billion Davao Sasa Wharf Modernization deal, and the contract to operate and maintain the Light Rail Transit Line 2 (LRT 2). Hitting such a target will be formidable task to the department, as these projects still require certain approvals from the Office of the Government Corporate Counsel, the Office of the Secretary-General and the Department of Finance.
ADB grants $60-M loan for water utilities Phil Star Global 26th Apr 2016
The Asian Development Bank (ADB) has approved a $60-million loan to the Local Water Utilities Administration (LWUA) to help the regulator improve the functions of small water districts. The multilateral lender said it would also administer co-financing grants totaling $3 million—obtained from the Urban Environment Infrastructure Fund—to provide subsidies for sanitation facilities and fund capacity building activities for LWUA, water districts and local government units. This financial assistance will allow LWUA to provide long-term concession loans to water districts and provide these entities with technical support for the reduction of non-revenue water levels and strengthening of management structure. Improving the services of small water districts would ultimately stop the spread of water-born diseases, reduce environmental pollution and increase access to potable water.
Infra crisis imminent sans PPP Act–Palacios Business Mirror 25th Apr 2016
THE country is now experiencing what Andre C. Palacios, the executive director of the Public-Private Partnership (PPP) Center, tagged as an infrastructure gap. But if the government fails to act immediately to mitigate the imbalance between infrastructure demand and supply—beginning with the passage of the proposed PPP Act—the Philippines could plunge into a catastrophe, termed as “infra crisis,” something that will require extraordinary measures to be addressed. "What we have now is an infrastructure gap, wherein the needs of the public for public services, delivered by public infrastructure, [are] not being met by our current public infrastructure,” he told the BusinessMirror. “We don’t have an infrastructure crisis, yet. But, if we do not act now, the gap may turn into an infrastructure crisis.”
ADB to boost infrastructure investments in Southeast Asia Business World Online 22nd Apr 2016
The Asian Development Bank (ADB) will commit almost half of its investments in Southeast Asia, including the Philippines, to infrastructure development until 2018. In its 2015 Annual Report released on Friday, the multilateral bank announced “wide-scale funding boosts for key sectors” across the region, following an all-time high lending last year. The ADB is particularly looking at expanding support for infrastructure development, inclusive growth as well as environment and climate change adaptation in Brunei Darussalam, Cambodia, Indonesia, The Lao People’s Democratic Republic, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. “ADB will adopt a more holistic approach, using sector-wide programs, to scale up and sustain its investment in developing key infrastructure across the region,” according to the report.
More funds allocated for LGUs Business World Online 22nd Apr 2016
The budget department is diverting more funds from national coffers to local government units (LGUs) next year, with the budget for rehabilitation of local roads six times bigger than the 2016 level. In a statement issued Friday, the Department of Budget and Management (DBM) announced that P39 billion of the proposed P3.35 trillion national budget will fund the Konkreto at Ayos na Lansangan at Daan Tungo sa Pangkalahatang Kaunlaran (KALSADA) Program. KALSADA provides funding to provinces to upgrade and rehabilate the quality of local roads. Provinces are required to meet good governance and performance standards and establish monitoring and evaluation mechanisms for their road projects.
Final $510M; SC affirms payment to PIATCO Malaya 20th Apr 2016
The Supreme Court yesterday affirmed its earlier ruling directing the government to pay $510 million in “just compensation” to the Philippine International Air Terminals Company Inc. (Piatco) for building the Ninoy Aquino International Airport Terminal 3. Theodore Te, SC spokesman,said the decision was made at an en banc session in Baguio City where the high court is holding its annual summer session.Te said the Court will entertain “no further pleadings in the case” adding the “entry of judgment should be made in due course.” He said those who did not participate in the voting were Chief Justice Maria Lourdes Sereno, and Associate Justices Antonio Carpio, Mariano del Castillo and Francis Jardeleza. Associate Justice Bienvenido Reyes was on leave. The high court affirmed its September 2015 ruling and threw out the appeal of the appeal of the solicitor general for lower compensation to Piatco.
3-year blueprint pegs infrastructure spending at P3 trillion Business Mirror 19th Apr 2016
The government is targeting to spend as much as P3 trillion for infrastructure projects, from 2017 to 2019, in keeping with its goal of hiking public-infrastructure spending to at least 5 percent of GDP. Documents obtained by the BusinessMirror showed that infrastructure spending under the Three-Year Rolling Infrastructure Program (Trip), which covers projects not included in the public-private partnership (PPP) pipeline, could reach as high as P1.07 trillion in 2019.
AboitizPower’s P3.7-billion solar power plant in Negros opens Business Mirror 19th Apr 2016
Aboitiz Power Corp. (AboitizPower), through its subsidiary San Carlos Sun Power Inc., officially launched on Tuesday its P3.7-billion sun-powered plant, which can generate 82 gigawatt-hours of clean and renewable energy (RE) a year to the Visayas grid. The guest of honor was President Aquino. Located within the San Carlos Ecozone in Barangay Punao, San Carlos City on the eastern side of Negros Island, the 59-megawatt (MW) San Carlos Sun (SacaSun) project is AboitizPower’s first venture into solar energy.
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