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Philippines Seeks to Join ASEAN Trading Platform
At the Philippine Capital Markets Forum in Hong Kong, the Filipino government presented progress of the domestic capital markets exchange and its expectation of joining the three-country ASEAN Trading Link by 2016. Philippines National Treasurer Roberto Tan noted that the Capital Market Development Plan (CMDP) has been updated to include new financial products such as exchange-traded funds and derivatives as well as new services such as online trading. The CMDP has been used to enhance and update the exchange in anticipation of regional integration next year. As part of this modernization process, the Philippine Stock Exchange started using a new trading system PSEtrade XTS utilizing NASDAQ’s X-stream Trading technology, on June 21. In addition to touting the progress of its capital markets, Filipino officials have been promoting the overall economic strength of the country. At the Forum, Finance Secretary Cesar Purisima highlighted the growing local currency corporate bond market, which has more than doubled from $7.6 billion in 2009 to $17 billion at the end of last year. Secretary Purisima was also recently interviewed by The Wall Street Journal, where he pointed out that external debt, as a percentage of GDP, has been halved from 30 percent to 15 percent since 2005 and the Philippines has reported a current-account surplus for the last 13 years. He also expects GDP to grow 7 percent this year. Government and business leaders from the Philippines are also wrapping up a three-city trade and investment mission through the U.S. to highlight the development of the economy, including a fast growing IT/BPO sector and increasing investments in infrastructure and reassuring investors of the government’s commitment to reforms despite a change in administration after presidential elections next year. This optimism comes as a recent report issued as part of the Advancing Philippine Competitiveness project warned that the Philippines must continue to enact financial sector reforms, such as easing restrictions on foreign equity for investment houses and increasing access to local credit.
US Investors Urged to get into Philippine Infrastructure Building
On June 24 in Washington, DC, Philippine Public Works and Highways Secretary Rogelio L. Singson spoke at the Center for International and Strategic Studies (CSIS) Conference, “Dynamic Philippine Economy: Growth, Reform, and Looking Ahead,” highlighting the construction and infrastructure investment opportunities available in the country. He urged American companies to set up offices in the country and register themselves as contractors, as the creation of a new license category, Quadruple A (AAAA) allows foreign firms to be registered as regular contractors, as opposed to previous regulations permitting foreign firms to work as contractors on a project-by-project basis. Infrastructure development is seen as essential to the improvement of designated strategic convergence areas, which will help the country to attain sustainable, resilient, and inclusive economic growth. Sectors such as tourism, agriculture, water, and transportation have been emphasized as strategic areas of especial importance. Further, the good governance and anti-corruption programs introduced within the Department of Public Works and Highways have saved taxpayers more than $1bn in the last year, allowing for a greater focus on infrastructure development. Opportunities for PPP projects were also emphasized during the conference, as the Executive Director of the Private-Public Partnership Center, Cosette V. Canilao, spoke about the opportunities and policy guidelines needed to facilitate such partnerships. Creating opportunity for more foreign investment in infrastructure was a running theme throughout the Philippine High-Level Trade and Investment Mission in the US. The Philippines seeks to be spending 5 percent of its GDP on infrastructure investment by 2016.
Congressman seeks Coast Guard Modernization
Congressman Eleandro Jesus Madrona, has recently introduced a bill that seeks to modernize the capabilities of the Philippine Coast Guard (PCG). With the ongoing challenges brought by China’s aggression in the West Philippine Sea, House Bill 5112 highlights the importance of enhancing the effectiveness and efficiency of functional areas. This includes maritime safety, search and rescue, security, law enforcement and environmental protection. When discussing the success of the PCG, Madrona argues that, “the capability of the PCG, compared to coast guards of the country’s neighbors in the ASEAN region, is just below par.” He emphasizes that the PCG needs to maintain their presence within the country’s territorial waters by guarding its 36,000 kilometer coastline. However he also includes that protecting the Philippine’s fishing industries and citizens who travel through their internal waters should also be a main focus. With this in mind, throughout the past month the PCG has held several exchanges with the Taiwan Coast Guard regarding territorial waters that separate the two countries and fishery negotiations. Throughout June, the Taiwanese Coast Guard has made several attempts to enter a part of Batanes because of its rich breeding grounds for tuna, a high price commodity. Although the PCG act under the Philippine Coast Guard Law of 2009, which includes the safeguard of life and property at sea, there have been several limitations. If the bill is approved, it will hopefully combat these future issues, and focus on professionalizing its human resources, doctrinal development, infrastructure development, and advancing equipment and facilities acquisitions. The PCG Modernization Trust fund is specific to only funding the PCT modernization program, excluding salaries and allowances. The program will be given P50 billion within the first give years, and any additional support in the future will depend on the increase of the Philippine’s gross national product.
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PH defers joining China-led bank Philippine Daily Inquirer 29th Jun 2015
Even as the Philippines did not sign on Monday the articles of agreement for the establishment of the China-led Asian Infrastructure Investment Bank (AIIB), Finance Secretary Cesar V. Purisima said on Monday that the country “remains a prospective founding member.” “As the deadline to sign is on December 2015, the Philippines is taking the time given to prudently consider its membership. Not signing today does not preclude us from signing before the aforementioned deadline,” Purisima said in a statement. According to sources, about 50 countries were expected to sign the AIIB’s articles of agreement in Beijing during ceremonies on Monday.
Palace moves to boost trade linkages in BIMP-Eaga Business Mirror 28th Jun 2015
PRESIDENT Aquino embarks on a twin mission on Monday to check on progress of Brunei, Indonesia, Malaysia, Philippines-East Asean Growth Area (BIMP-Eega) trade linkages and the status of air-defense alert facilities of the Armed Forces in Palawan, ground zero of a maritime row with China.
National Affairs
Grace Poe preferred candidate to replace Aquino: Bloomberg poll Business World 30th Jun 2015
A first-time Philippine senator who is the adopted daughter of a film star is edging out veteran politicians as the preferred candidate to replace President Benigno Aquino, even before she’s declared her intention to run. Grace Poe-Llamanzares, 46, was picked by 12 of 23 analysts and bankers in a Bloomberg survey this month as the best choice to steer the Philippine economy after Aquino leaves office a year from now. Vice President Jejomar Binay, 72, got three votes, while four chose Interior Secretary Mar Roxas, 58.
Binays defy Ombudsman Philippine Inquirer 29th Jun 2015
It is just another attack, but Vice President Jejomar Binay is unfazed and says it’s not going to prevent him from running for President next year. The Vice President’s son, Makati Mayor Junjun Binay, received Monday a second suspension order from the Office of the Ombudsman in connection with its investigation of corruption allegations in the construction of the P1.3-billion Makati City Science High School building.
Frustration in south Philippines as peace process with rebels stalls Channel NewsAsia 29th Jun 2015
The stalling of the Bangsamoro Basic Law (BBL) in the Philippines Senate has led to frustration among the Muslim population in southern Mindanao. New groups have formed, calling for independence away from the peace process, and many fear that further impasse could lead to more radicalism. The 45-year conflict has claimed the lives of 120,000 people and displaced 2 million others. The proposed law is an important part of the peace process between the national government and the Muslim-dominated Mindanao region. But a newly-formed group known as the League of Bangsamoro Organisation is calling on people to ditch the BBL and to strive for independence from the rest of the country.
The Geopolitical Stakes of the 2016 Philippine Elections The Diplomat 28th Jun 2015
For almost four years now, the Philippines has been Southeast Asia’s fastest growing major economy. Once dubbed the “sick man” of Asia, the country’s image has enjoyed a turnaround under President Benigno Aquino III. The Philippines sovereign credit rating has been upgraded from junk to investment grade by all major credit rating agencies. Though still lagging its peers in ASEAN, foreign direct investment and tourism figures have all seen remarkable upticks. Investments in human and economic infrastructure through public-private partnerships, overseas development assistance, and other schemes have been unprecedented under the current administration, despite bureaucratic and other delays.
ASEAN
MSMEs seen to benefit most from Asean econ integration The Philippine Star 1st Jul 2015
The Philippines must weed out the key challenges faced by micro-, small and medium enterprises (MSMEs) to strengthen their role as a key economic growth driver and benefit from opportunities from the Association of Southeast Asian Nations (Asean) integration, a National Economic and Development Authority (NEDA) official said. The country’s MSMEs are seen to benefit more from the Asean Economic Community (AEC) given the bigger market of more than 600 million consumers, improved technology sharing, and stronger interdependence among SMEs in the region, NEDA Regional Office 10 director Leon M. Dacanay Jr. said during the 2015 Regional Quality Circles Convention (RQCC) held in Cagayan de Oro City recently. All these will result in greater efficiency, higher productivity and ultimately, higher incomes of SMEs despite their vulnerability to local and external risks, he said.
Customs
Philippines, EU eye free trade pact The Philippine Star 2nd Jul 2015
The European Union and the Philippines are exploring the possibility of forging a free trade agreement (FTA) beneficial to both Spain and its former colony, Spanish Ambassador Luis A. Calvo said here Tuesday. Speaking during the 13th Philippine-Spanish Friendship Day coinciding with the 116th anniversary of the historic “Siege of Baler at the Baler Church, Calvo said the EU and the Philippines are looking at the FTA similar to the Association of Southeast Asian Nations integrated economic zone. “Coinciding with the establishment of an integrated economic zone in Asean, where this country is called upon to play a leading role, the European Union and the Philippines have been exploring possibilities of negotiating a free trade agreement that would legitimize the fact that this 28-member group constitutes privileged trade partner of the Philippines and would also rapidly improve our respective opportunities to benefit both our nations,” he said.
BOC orders 23 importers to pay P2-B tax deficiencies Philippine Daily Inquirer 1st Jul 2015
The Bureau of Customs (BOC) has asked a total of 23 importers of iron and steel as well as resin to pay over P2 billion in tax deficiencies. In a statement on Wednesday, the BOC said Customs Commissioner Alberto D. Lina had already issued post-entry audit assessments and demand letters to those whose deficiencies were found in their import declarations by the Department of Finance-Fiscal Intelligence Unit (DOF-FIU). The BOC said the estimated unpaid import duties and taxes by 18 resins importers reached P2 billion, while those of the five iron and steel importers totaled P55 million.
Importer accreditation rule changed Business Mirror 26th Jun 2015
The Bureau of Internal Revenue (BIR) has advised all importers and customs brokers who were issued provisional importer’s clearance certificate/broker’s clearance certificate (ICC/BCC), but were not able to submit the required certificates to convert those documents into regular ICC/BCC before the expiration of the provisional ICC/BCC, would have to reapply for their ICC/BCC. In an advisory, the BIR said the provisional ICC/BCC, which had expired without their holders having submitted the required certificates, may no longer be converted into regular ICC/BCC, and that holders of these provisional documents would have to apply again for their accreditation as importers or customs brokers with the BIR.
Defense & Security
Aquino assures delivery of additional Air Force assets Business Mirror 1st Jul 2015
President Aquino pledged to deliver, before bowing out in June 2016, additional Air Force assets to further upgrade military service’s defense and disaster response capabilities. Speaking at the Philippine Air Force’s (PAF) 68th anniversary rites in the former US Clark Air Base in Pampanga, Aquino acknowledged the need for government to provide the Air Force vital equipment to enable it to perform its twin mission. “Malinaw po: Mayroon nang gobyernong tunay na nagmamalasakit sa mga kawal nating kumakalinga sa mamamayan,” Aquino said, adding: “Sa nalalabing panahon natin sa puwesto, makakaasa kayong hindi magmamaliw ang suporta natin sa inyong hanay.”
Missile system pushed Manila Standard Today 1 Jul 2015
The Defense Department is lobbying to realign the P6.5 billion Shore-Based Missile System to counter China’s threat in the South China Sea, according to documents obtained by The Standard. The mobile SBMS is part of the Army’s “big-ticket items” and included in the 1st Horizon Project List in the Revised Armed Forces of the Philippines Modernization Program, which was approved by Defense Secretary Voltaire Gazmin but yet to be approved by President Benigno Aquino III. Defense insiders say the project did not pass through the Defense Capability Assessment and Planning Systems and the Defense System of Management. If not justified, they warn, the proponents of the realignment may face legal charges and jail terms. They say the project is a government-to-government deal with the Israel Military Industries Ltd. in December 2014. They say the realignment of the SBMS negates the President’s promise for the AFP to have a “minimum credible defense” posture before he steps down from office in 2016.
Navy receives landing craft utility from South Korea Business Mirror 1st Jul 2015
South Korea has become a generous donor of the military in the aftermath of the government’s sealing of a contract for the delivery of a squadron of FA-50 lead-in fighter jets. Vice Adm. Jesus C. Millan disclosed that they have already received the landing craft utility (LCU) ship that South Korea has earlier promised to donate to the Armed Forces. “It already arrived on May 30, but it has to undergo some machinery and equipment repairs. It’s only one and donated by South Korea. Once it becomes operational, it will boost our troop transport support, and humanitarian assistance and disaster-response capability,” he said. The Navy chief refused to describe the status of the LCU pending its refurbishment before it goes into service for the Navy.
Top rebel slain in Philippines The Sun Daily 30th Jun 2015
The Philippine military has shot dead an infamous communist guerilla leader in a blow to one of the world's longest-running Maoist insurgencies, authorities said today. New People's Army (NPA) commander Leonardo Pitao was killed in a mountainous hamlet near the major southern city of Davao on Sunday by army special forces, the military said. "He's an NPA idol, and now they will see how the long arm of the law finally caught up with their leader," Major-General Eduardo Ano said of the rebel leader also known as "Commander Parago". "This is not only going to be a big setback; this is going to be what you call the fall of the NPA in the Davao region," Ano said.
What’s Next for Japan-Philippines Defense Ties? The Diplomat 30th Jun 2015
As I reported previously, the Philippines and Japan carried out their second ever joint military exercises last week (See: “Philippines to Hold Military Exercises with US, Japan”). Apart from the exercises themselves, the past week has also saw several updates from Philippine officials about the next steps in the development of the defense relationship between Manila and Tokyo. More details are beginning to surface about defense equipment transfers between the two sides. While Japan and the Philippines have already discussed particular items in Manila’s defense wish list, including patrol aircraft, submarines and destroyers, more specifics are being gradually disclosed in the public domain (See: “Japan, Philippines Boost Defense Ties”).
Congressman seeks Coast Guard modernization Business Mirror 29th Jun 2015
Amid China’s current aggressive activities in the West Philippine Sea, a lawmaker filed a measure modernizing the Coast Guard (PCG). House Bill 5112, or “An Act modernizing the Philippine Coast Guard, Creating for the Purpose the Philippine Coast Guard Modernization Trust Fund and Appropriating Funds Therefor,” authored by Nacionalista Party Rep. Eleandro Jesus F. Madrona of Romblon, seeks to strengthen the capabilities of the Coast Guard to secure the country’s 36,000-kilometer coastline, as well as territorial waters. Under the bill, the modernization program components include organization development; professionalization of its human resources; doctrinal development; infrastructure development; and equipment and facilities acquisition and modernization.
Economics
Philippines among most restrictive in SEA on FDI The Philippine Star 2nd Jul 2015
The Philippines is among the more restrictive economies in the Southeast Asian region when it comes to foreign direct investments (FDIs), a recent study by the Economic Research Institute for Asean and East Asia (ERIA) showed. This was among the findings of the ERIA discussion paper titled “FDI Restrictiveness Index for Asean: Implementation of AEC (ASEAN Economic Integration) Blueprint Measures” authored by Shandre Mugan Thangavelu of the University of Adelaide-Institute of International Trade. It compared the situation between 2010 and 2014. The paper noted developing economies in the Association of Southeast Asian Nations (Asean) tend to have a more open policy towards foreign investments compared to economies with more developed and mature industries.
Government sticks to 7-8% growth target until 2016 The Philippine Star 1st Jul 2015
The government has retained its economic growth assumptions of seven to eight percent for this year and next year, but noted that hitting the top-end of its target would be a challenge given some issues on the domestic front. In a briefing following a meeting of the country’s economic managers yesterday, Budget Secretary Florencio Abad said the inter-agency Development Budget Coordination Committee (DBCC) agreed to keep the country’s economic growth forecasts unchanged despite the uncertainties on both global and domestic fronts. “The upper target would be a challenge but it still remains to be within range observing many of the problems are mostly domestic in nature and therefore within the control of the government,” Abad said.
PHL economy seen growing by more than 7% this year on election spending Business Mirror 29th Jun 2015
The country’s economic growth, measured in terms of gross domestic product (GDP), could still breach 7 percent this year, on the back of “massive” election spending in the second half and the rollout of public-private partnership (PPP) projects. In its latest Market Call report, First Metro Investment Corp. and the University of Asia and the Pacific (UA&P) Capital Markets Research group said the sharp fall in fuel prices would also bolster consumption—one of the main drivers of Philippine GDP.
'Invest in PH now' - Gov't, business make pitch to US investors Rappler 29th Jun 2015
Top government officials and business leaders highlighted the Philippines’ growing attraction as an investment destination at an economic briefing and investment conference held on June 26 at Goldman Sachs in New York City. Entitled “Invest in the Philippines: Asia’s Bright Spot” the New York Conference was the second stop of a high-level trade and investment mission to the United States, from June 24 to 29, aimed at increasing American investment in the country. “Investments in people, infrastructure and reforms have transformed the Philippines into a prime destination for foreign capital in recent years,” said Finance Secretary Cesar V. Purisima, in his keynote address.
Energy
PSALM bidding out service contract for Malaya Thermal Power facility The Philippine Star 2nd Jul 2015
The Power Sector Assets and Liabilities Management Corp. (PSALM), the government corporation tasked to privatize state-owned power assets, is bidding out the operation and maintenance service contract for the 650-megawatt Malaya Thermal Power Plant in Pililla, Rizal. In its Invitation to bid, PSALM said interested parties could bid for the procurement of operation and maintenance service contract for the 650-MW Malaya Thermal Plant. “Bidding will be conducted through open competitive bidding procedures using a non-discretionary pass or fail criterion as specified in the implementing rules and regulations (IRR) of Republic Act (RA) 9184, otherwise known as the “Government Procurement Reform Act.” Bidding is open to all interested bidders, whether local or foreign, subject to the conditions for eligibility provided in the IRR of RA 9184,” PSALM said.
Gov’t eases fuel ethanol blend rule Business World 30th Jun 2015
The Department of Energy (DoE) has temporarily relaxed implementation of the required 10% bioethanol blend (E10) for some gasoline products due to a local shortage. “In consideration of the insufficiency of locally produced bioethanol and to reduce the level of bioethanol importation, the ethanol blend requirement... may be waived for premium plus grade gasoline products (minimum 97 RON)...” the June 9 circular read, referring to Research Octane Number -- a measure of fuel quality.
New wind feed-in tariff filed The Philippine Star 30th Jun 2015
The National Renewable Energy Board (NREB) has filed a new feed-in-tariff (FIT) rate for wind for the second round of FIT allocation, Energy Secretary Carlos Jericho Petilla said. The DOE chief said NREB has filed for a new wind FIT rate of P7.93 per kilowatt-hour from P8.53 per kwh at present. “(NREB) has already filed it with the ERC (Energy Regulatory Commission),” Petilla said. NREB is the advisory body tasked with the effective implementation of renewable energy projects in the country. Petilla said it is now up to the ERC to decide on the filing.
Oil exploration tender attracts few proponents Business World 30th Jun 2015
The auction for petroleum service contracts under the fifth Philippine Energy Contracting Round (PECR) has drawn the interest of only three companies. The Department of Energy (DoE) yesterday opened applications for four petroleum blocks under the PECR 5, under which a total of 11 areas were offered for exploration and development.
Araneta to build Southeast Asia's biggest solar farm GMA News 29th Jun 2015
Gregorio Araneta Inc. on Monday said it intends to build what is possibly the biggest solar farm in Southeast Asia, as the real estate firm diversifies further into the renewable energy sector. The company plans to build a 100-megawatt facility in Cadiz City, Negros Occidental, at an estimated cost of $175 million. The solar farm is expected to start feeding the national grid with renewable energy by 2016. Araneta unveiled the planned project only months after the company's 30-megawatt facility in Ormoc, Leyte started supplying power to the national grid in March.
Luzon placed on red alert as power supply dwindled Business Mirror 29th Jun 2015
Thinning power reserves, which could result in power outages, forced the Department of Energy (DOE) to place Luzon on red alert on Monday afternoon. Despite this, DOE officials said the island of Luzon—which is home to the country’s central business district and economic zones—was able to avoid brownouts. “There’s the 340-megawatt [MW] regulating reserves that the NGCP [National Grid Corp. of the Philippines] was able to tap despite the red alert. This was the reason we did not have any brownout,” Energy Undersecretary Mylene C. Capongcol said.
RP Energy faces transmission problem The Philippine Star 29th Jun 2015
After winning its thorny legal battles early this year, the planned 600-megawatt coal-fired power plant of RP Energy inside the Subic Bay Freeport Zone in Zambales faces yet another challenge – a major transmission problem. As such, the plant would have to initially run at just 300 MW instead of the original 600 MW until the issue is resolved, said businessman Manuel V. Pangilinan, chairman of the Manila Electric Co. (Meralco). Meralco, through its power generation arm MGen, is part of RP Energy, the company behind the controversial coal-fired project in Subic. Other members are Aboitiz Power Corp. and Taiwan Cogeneration International Corp.
Financial Services
Philippines ranks 68th worldwide in financial literacy index The Philippine Star 2nd Jul 2015
The Philippines was ranked 68th globally in terms of financial literacy index, according to a study made by the Asian Development Bank (ADB). The study on financial education in Asia indicates majority of Asian nations do not have a national strategy for financial education and literacy, or that the existing programs lag behind the rest of the world. Citing a survey undertaken by MasterCard, the Philippines ranked 68th behind Malaysia, Thailand, Hongkong, Taiwan and Singapore. In the Asia and Pacific region, New Zealand topped the list.
Bank lending grows slower in May CNN Philippines 1st Jul 2015
Figures from the Bangko Sentral ng Pilipinas (BSP) revealed that outstanding loans of commercial banks, excluding reverse repurchase placements (RRPs) with the BSP, grew at a slightly lower pace in May compared to the previous month. Such loans rose by 14.5%, compared to April's 15.4% expansion. "On a month-on-month seasonally-adjusted basis, commercial bank lending increased by 0.8 percent for loans net of RRPs and by 0.7 percent for loans inclusive of RRPs," the BSP said in a statement. More than 80% of the aggregate loan portfolio went to funds for production activities. Loans in that sector saw an overall growth of 14.1%, slower than April's 15.1%.
MAP forum discusses how e-commerce helps companies be more innovative Business Mirror 1st Jul 2015
E-commerce, according to the leaders in the retail industry, is a platform where industry players can create innovations for their companies, seeking to meet the constantly moving consumer preference. In a Management Association of the Philippines (MAP) panel discussion entitled “Transforming the Way We Sell: Innovations in Retailing,” Vice President and Head of Operation and Support Services of Ayala Land Inc. Rowena Tomeldan said there is a challenge to constantly innovate and see the trends in the industry, and one trend is e-commerce. “The shopping malls have gone beyond shopping. Shopping centers now provide experience,” Tomeldan said. She said that shopping malls have evolved with the rise of e-commerce, using digital media in promotion.
PH banks among region’s most liquid Philippine Daily Inquirer 29th Jun 2015
Banks in the Philippines are among the most best-placed in the region to cope with new international regulations designed to protect economies from weaknesses coming from the financial sector, international debt watcher Moody’s Investor Service said Monday. As local regulators are ahead of most counterparts in the region in implementing reforms, it said local banks have found little difficulty in complying with even the strictest regulations that surpass those approved by international bodies. “Rated Philippine banks are among the most liquid in the region,” Moody’s pointed out in a report published Monday on Southeast Asian banks’ compliance with Basel III rules.
Central bank readies launch of financial inclusion strategy The Philippine Star 28th Jun 2015
The Bangko Sentral ng Pilipinas (BSP) is set to launch on Wednesday the National Strategy for Financial Inclusion as part of efforts to expand the reach of financial services and eventually boost economic activities and development especially in rural areas. “This government action plan, coordinated by the BSP, aims to enhance cooperation between ministries, government agencies, and the private sector to improve the population’s access to financial services,” the BSP said. The BSP has always pursued financial inclusion through implementing measures for greater access to financial products, supporting financial education and literacy, and upholding financial consumer protection.
Food & Agriculture
Max’s in talks to bring in new foreign food brands The Philippine Star 30th Jun 2015
Max’s Group Inc., the combined entity of Pancake House Inc. and the Max’s Group of Companies, is pursuing discussions with international companies in hopes of bringing in new foreign food brands to the country. With its last international acquisition in 2011, the country’s largest chain of full service restaurants is currently seeking to end the drought. “There are talks but non-disclosable. There are always talks in various stages,” Max’s Group director and chief finance officer Dave T. Fuentebella said in an interview following the company’s annual stockholders meeting yesterday.
Bill seeks to create national food security council Business World 28th Jun 2015
House Bills (HB) 4611 and 5210, filed by Butil Party list Rep. Agapito H. Guanlao and Quezon City Rep. Winston F. Castelo (2nd district) both seek to legislate a National Food Security Council (NFSC). The proposed council is the equivalent of the current Office of the Presidential Adviser on Food Security and Agricultural Modernization (OPAFSAM) put up on May 5, 2014 by virtue of an executive order signed by President Benigno S.C. Aquino III, which the next President may elect to repeal upon resuming office in June next year.
PHL keen on exporting chicken to Asian countries Business Mirror 28th Jun 2015
The Philippines remains keen on selling frozen chicken and processed chicken products to neighboring Asian countries such as Vietnam, Singapore and Hong Kong, a senior official of the Department of Agriculture (DA) said over the weekend. Agriculture Undersecretary Jose Reaño said Filipino poultry growers are now more competitive as the cost of poultry production has gone down in recent years. “The establishment of the Asean Economic Community will also make it easier for the Philippines to ship out poultry products,” Reaño said in a telephone interview. Products traded among Asean countries will enjoy lower tariffs. For one, the tariff for chicken will go down to 5 percent.
Govt to roll out animal waste-management program Business Mirror 28th Jun 2015
The Department of Agriculture (DA) is targeting to launch a program aimed at helping farmers profit from animal waste by 2016, the head of the Bureau of Animal Industry (BAI) said over the weekend. BAI Director Rubina O. Cresencio said the agency attached to the DA is currently crafting the road map for the National Animal Waste Resource Management Program (NAWRMP). “We can probably finalize the road map by October, especially if stakeholders will be supportive,” Cresencio said in a telephone interview.
Health & Life Sciences
Supreme Court stops distribution, sale of implants Rappler 30th Jun 2015
More than a year after it held the reproductive health (RH) law constitutional, the Supreme Court (SC) has temporarily stopped the health department from distributing and selling implants. SC issued a temporary restraining order, prohibiting the Department of Health (DOH) from "procuring, selling, distributing, dispensing or administering, advertising and promoting the hormonal contraceptive 'Implanon' and 'Implanon NXT.'" This contraceptive implant can prevent pregnancies up to 3 years. In the two-page resolution dated June 17 and penned by Senior Associate Justice Antonio Carpio, the High Court also prohibited the Food and Drug Administration (FDA) from "granting any and all pending application for reproductive products and supplies, including contraceptive drugs and devices."
Hereditary cancer test debuts in Philippines CNN Philippines 29th Jun 2015
According to a report by the Philippine Cancer Society (PCS), specific cancers, such as breast cancer and colon cancer, can be linked to genetics for a few individuals. Based on 2008 rates, the PCS said that 13 out of 100 males and 12 out of 100 females in the Philippines would have had some form of cancer if they would have lived up to age 75. The same report showed 10 out of 100 males and 7 out of 100 females would have died from cancer before age 75. But the situation is not hopeless. The PCS added that for such individuals with an inherited cancer risk, "cancer is not inevitable. If they avoid the cancer promoting substance, and strengthen their defenses by maintaining healthy lifestyles from childhood, they will win."
90 days of dialysis per year now covered by PhilHealth Rappler 26th Jun 2015
The number of hemodialysis covered by the Philippine Health Insurance Corporation (PhilHealth) has been doubled to 90 per year, the government corporation announced on Friday, June 26. In a statement, PhilHealth said its board of directors approved the expansion to help ease the financial burden of members and their dependents, given the growing incidence of kidney diseases in the country. The board was also responding to the growing clamor from sectors to expand increase the hemodialysis session days covered by PhilHealth.
DOH chief, PhilHealth head invited to Senate probe Phil Star 30th Jun 2015
Health Secretary Janette Garin and Philippine Health Insurance Corp. (PhilHealth) president Alexander Padilla have been invited to attend tomorrow’s Senate Blue Ribbon committee probe into the P2 billion in alleged spurious claims made by hospitals and clinics. The probe was initiated by the chairman of the Blue Ribbon committee, Sen. Teofisto Guingona III, who filed a resolution for this purpose in response to reports coming from PhilHealth itself about the proliferation of suspicious claims being made by some healthcare facilities around the country.
Infrastructure
Public spending for infra, capital outlay up 40% in April The Philippine Star 1st Jul 2015
Public spending for infrastructure and capital outlay surged by more than 40 percent to P23.3 billion in April as the government tried to catch up on disbursements which had been anemic in the past months, the Department of Finance (DOF) reported yesterday. Budget Secretary Florencio B. Abad earlier said the government would speed up infrastructure spending in the second half to further prop up economic growth, which slowed down to 5.2 percent in the first quarter. For the first four months of the year, total infrastructure disbursements amounted to P91.9 percent, 1.9 percent lower than last year’s level. Based on the World Bank’s 2014 Logistics Performance Index, Philippine infrastructure is the worst among the six Southeast Asian nations including Singapore, Vietnam, Indonesia, Malaysia and Thailand.
Mactan Cebu airport capacity seen rising 178% to 12.5 M passengers The Philippine Star 29th Jun 2015
The capacity of the country’s second busiest airport is expected to surge 178 percent with the completion of the P17.5 billion Mactan Cebu International Airport project in 2019. Transportation Secretary Joseph Emilio Abaya said construction of a new passenger terminal at the Mactan Cebu International Airport would be completed in 2018 while the expansion and renovation of the existing terminal would be finished in 2019. Abaya is set to lead the groundbreaking ceremony for the Aquino administration’s first airport PPP project today. “The kick-off ceremony for the construction of the new international terminal for the country’s second-biggest gateway, the Mactan Cebu International Airport, is touted to be the start of Philippine airports matching the best in the world,” he said.
Consortium starts work on new Mactan terminal Philippine Daily Inquirer 29th Jun 2015
The winner of the Mactan Cebu International Airport project, involving the expansion and operations of the country’s second-busiest air gateway, started work on the new terminal Monday with the aim of completing the “world-class” facility by 2018. The public private partnership (PPP) project, won by Filipino company Megawide Construction Corp. and India’s GMR Infrastructure in 2014, aims to almost triple the airport’s capacity from 4.5 million to 12.5 million passengers once it is completed. It remains among the most coveted of PPP deals awarded under the Aquino administration as it lured several of the country’s biggest conglomerates and their international partners.
PPP thrust edges forward despite delays Business World 28th Jun 2015
HE COUNTRY’S first airport public-private partnership (PPP) project breaks ground today, the Transportation department said in a statement last weekend, signaling start of construction and adding to the list of priority infrastructure ventures under way as the Aquino administration starts its final year in office tomorrow.
US investors urged to get into PH infrastructure building Inquirer.net 26th Jun 2015
American construction companies should “locate their businesses in the Philippines, get registered in the Philippines, and take advantage of Filipino engineers” in order to be competitive in the ASEAN region, the Philippines’ visiting public works secretary told potential investors here. Public Works and Highways Secretary Rogelio L. Singson advanced this business proposition June 24 at the Center for International and Strategic Studies (CSIS) Conference, “Dynamic Philippine Economy: Growth, Reform and Looking Ahead,” the first stop for the Philippine High-Level Trade and Investment Mission that is traveling across the United States from 24 to 29 June. “The Philippines offers a lot of construction opportunities,” Singson said, stressing that infrastructure development is essential to the improvement of other sectors, such as tourism, agriculture, water and transportation.
Manufacturing
Philippine Auto-Hub Ambitions Lure Ayala, Megaworld to Factories Bloomberg 28th Jun 2015
Philippine developers are expanding into industrial estates as the government moves to make the nation a car-manufacturing hub have sparked interest from Japanese automakers. “We haven’t seen this kind of interest from Japanese companies since the mid-1990s,” said Rick Santos, chairman of CBRE Group Inc. in Manila. “The industrial sector gets a boost from robust foreign demand.” That is attracting builders such as Ayala Land Inc. and Megaworld Corp., which are now developing industrial properties to diversify their portfolios, recognizing the increasing demand for industrial space, said Antton Nordberg, head of research at KMC MAG Group Inc., Savills Plc’s Manila associate.
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