SoKor helps PHL address growth constraints By Cai U. Ordinario @caiordinario
I broader look » b4-b5
Manila port congestion exacts heavy toll on Customs
DEPT. OF SCIENCE AND TECHNOLOGY
PHILIPPINE STATISTICS AUTHORITY
2018 BANTOG DATA MEDIA AWARDS CHAMPION
T is said that the “toughest steel is forged in the hottest fire.” The same is true for the strong bilateral relationship between Korea and the Philippines, which fought side by side during the Korean War. The Philippines was the first Asian country to respond to the call of the United Nations Security Council to deploy forces to the Korean Peninsula during Korea’s hour of need. The government sent the Philippine Expeditionary Forces to Korea composed of five Battalion Combat Teams. Between 1950 and 1955, some 7,420 Filipino soldiers served in the Korean War. Around 112 men were killed and 299 others were wounded. And to this day, 16 men are still considered missing in action. The Republic of Korea rose from the ashes left by the Korean War to become one of the world’s highly
industrialized countries. It would have been easy for the ROK to move on and let go of the past. But it has honored its friendships and treasured its allies like the Philippines. Continued on E3
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Thursday, March 28, 2019 Vol. 14 No. 169
El Niño farm damage doubles to ₧2.68B E
By Cai U. Ordinario
@caiordinario
L Niño has cost the agriculture sector an estimated P2.68 billion—double the earlier P1.3 billion reported by the Department of Agriculture—and forced 16 areas to declare a state of calamity, the National Disaster Risk Reduction and Management Council (NDRRMC) said on Wednesday.
Based on the report, the largest damage was in rice, worth P1.45 billion or more than half of the total damage reported. In terms of the affected regions, the hardest hit was Region 12 or Soccsksargen, where
a g r ic u lt u re d a m a ge reac hed P808.67 billion. “An estimated P2.68 billion worth of damages to agriculture were reported in Regions Calabarzon, Mimaropa, Region 5, Region 6, Region 8, Region 12, and
BARMM [Bangsamoro Autonomous Region in Muslim Mindanao],” NDRRMC said. “Figures are subject to verification and validation of the Department of Agriculture.” In response, t he Nationa l
₧1.45B Damage to rice from El Niño, accounting for more than half of total damage
Korea’s industrial success: ‘Getting the prices wrong’ Rene E. Ofreneo
LABOREM EXERCENS
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Economic and Development Authority (Neda) formulated a Roadmap for Addressing the Impact of El Niño (RAIN), similar to the one it created in 2015. T he road map foc used on measures that aim to mitigate the impact of El Niño in food security, energy security, health and safety. “Under food security, it targets the issue of reduced food production together with increasing food
N the recent multisectoral RTD on Hanjin sponsored by the UP Center for Integrative Development Studies and the Freedom from Debt Coalition, the question arose: why was the Philippines left behind by South Korea in terms of industrial development? This question was raised because of the divergent industrialization routes taken by the two countries in the last four decades. In the early 1960s, the World Bank rated the Philippines as second to Japan in Asia in industrial development. Manufacturing registered a phenomenal annual double-digit growth in the 1950s, a record that the country has failed to duplicate since. By 1961, the share of industry in the national income reached 16 percent. This was a major feat for the newly independent Republic because three centuries of Spanish colonial rule and four decades of American-imposed “free-trade” policy reduced the Philippine colony into an underdeveloped agrarian economy specializing in the production of a few export crops (e.g., sugar, abaca, coconut) and minerals (gold and copper).
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& Butch Fernandez @butchfBM
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USTICE Secretary Menardo I. Guevarra on Tuesday dispelled fears raised by various sectors over the possibility of China taking over the gas-rich Reed Bank in the West Philippine Sea in case the country defaulted on its P3.69-billion loan for the construction of the Chico River Pump Irrigation Project, which was signed in April 2018. Sen ators, howe ver, voiced misgivings over Malacañang’s move accept ing C h ina f u nding for the Chico River project with patrimonial assets as collateral. Presidential Spokesman and Chief Presidentia l Lega l Counsel Salvador S. Panelo had asserted on Tuesday that the risk of Beijing seizing the Reed Bank is remote, since President Duterte will not declare Reed Bank as a patrimonial asset. Senate President Pro Tempore Ralph G. Recto said “it may be standard for China loans but not with the others.” Recto, a former chief of the National Economic and Development Authority (Neda), asserted
Govt ‘blind’ to informal workers’ true numbers
“We have already seen the negative effects of this type of arrangement with China in a number of countries where China eventually ended up controlling the resources and critical assets of a country.”— Villanueva
@jrsanjuan1573
that “there are many ways to finance our projects,” adding that he prefers the public-private partnership (PPP) arrangements that bankrolled previous government projects. “My preferred method is PPP; if the government needs to borrow, then it may borrow with the Asian Development Bank and World Bank. Thereafter it may borrow from Jica [Japan International Cooperation Agency]. The last should be China. If at all,” Recto added. Sen. Panfilo M. Lacson Sr. also aired apprehension over the terms for availing of loans from China. “Unless Secretary Panelo was just making an educated guess, something seems wrong with his statement that it is alright to collateralize the nation’s patrimonial assets,” Lacson lamented. See “Reed Bank,” A2
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Senators wary as DOJ chief eases fears over China and Reed Bank By Joel R. San Juan
2017 EJAP JOURNALISM AWARDS
By Samuel P. Medenilla @sam_medenilla
T RAMPING UP Work is being fast-tracked at the Clark International Airport expansion project to allow it to catch a bigger wave of visitors in a bigger facility. A second runway will be built and eyed for completion by 2020, the Clark International Airport Corporation said. The Bases Conversion and Development Authority said Clark’s new terminal project is seen to open in June 2020, and expected to accommodate more than 6 million passengers. Story on page A2. NONOY LACZA
PHL targets $250-M sales in China trade show By Elijah Felice E. Rosales
M
@alyasjah
ANILA is banking on the strong demand for Philippine processed food and agricultural products as it sets its sights on doubling sales to nearly $250 million from China’s largest trade show this year. Trade Secretar y R amon M. Lopez said the Philippines will send 100 local firms to this year’s China International Import Expo
(CIIE). The government has already secured the commitment of over 50 enterprises to participate in the expo. With over 100 local firms expected to take part in the CIIE, Lopez estimated sales from the trade show to hit nearly $250 million, or double the figures from last year. “If we can fill the 100 slots, we can double the figures from last year. We can hit above $200 million if we got more than $100 million [the prior year],” Lopez told report-
ers on the sidelines of Franchise Asia Philippines 2019. Lopez is optimistic participating enterprises will generate the target sales this year, as he said China is encouraging its firms to source their input requirements from other countries to boost import figures and balance its trade sheet. “China is encouraging importation [of products] to buy from our companies. [The] bottom line [is] at least our firms are really welcome See “Trade show,” A2
HE government continues to struggle in protecting its informal workers as it remains “statistically blind” to their exact numbers. The Bureau of Workers with Special Concerns (BWSC) lamented the country is currently among the last two member-countries of the Association of Southeast Asian Nations (Asean), together with Malaysia, without any formal statistical indicator for informal sector workers. By next year, BWSC representative Cyrus Policarpio said the Philippines may be the only one left since Malaysia is targeting to include informal sector workers in its statistics in 2020. The Philippine Statistics Authority (PSA) was able to conduct an Informal Sector Survey (ISS) in 2008 specifically to measure the number of informal sector workers.
However, the study, which relied on United Nations funding and used broad sectoral classifications of PSA, was no longer repeated. PSA typically estimates the number of informal sector workers in the country using data of self-employed workers and unpaid family workers from its regular Labor Force Survey. See “Informal workers,” A2
n JAPAN 0.4739 n UK 69.2626 n HK 6.6794 n CHINA 7.8076 n SINGAPORE 38.7724 n AUSTRALIA 37.4021 n EU 59.0759 n SAUDI ARABIA 13.9808
Source: BSP (27 March 2019 )