Mindanao Daily BUSINESS NEWS Volume III, No. 065 Editor : CHENG ORDOÑEZ
Wednesday
ROTARY INTERNATIONAL
THE FOUR-WAY TEST of the things we think, say or do
1. Is it the TRUTH? 2. Is it FAIR to all concerned? 3. Will it build GOODWILL and BETTER FRIENDSHIP? 4. Will it be BENEFICIAL to all concerned?
August 6, 2014 See story on PageB1 12
DTI suggests referral system to capture investments THE Department of Trade and Industry (DTI) is eyeing referral system among investment promotion agencies (IPAs) to ensure that the Philippines will capture all investment interests it is getting. “We have one message. Our strategy is ‘Invest Philippines’,” DTI Trade and Investment Promotions Group Undersecretary Ponciano Manalo Jr. told reporters. “I encouraged them to work together. If an investor comes to their economic zone but the investment is more appropriate to another IPAs,
refer it to other IPAs,” Manalo said. For instance, if the Philippine Economic Zone Authority (PEZA) received interest from investors in the garments sector, PEZA may refer the investments to the Authority of the Freeport Area of Bataan (AFAB) as AFAB has an established supply chains in its ecozone. Manalo also noted that each IPA has unique package of incentives it can provide to investors. He said every IPA can encourage investors to go to ecozone in which they can get incentives more
appropriate for them. “Instead of driving away their investors because they may not have some of the things they offer within their zones, better for them (investors) to be referred in other ecozone so that the Philippines can capture the investment,” he stressed. The DTI undersecretary said he will suggest to have common target among all IPAs. “Aside from individual target, let’s have an aggregate one. Also in FDIs (foreign direct invest-
ments), approved investments,” he mentioned. Currently, the Board of Investments (BOI) and PEZA which are both under DTI contributed bulk of approved investments. “In the future, I want to set own target. Of course the bulk of the investment is with BOI and PEZA. We need to be able to capture what other IPAs can configure... They need promotional support. And they should have be able to be strong, strengthen themselves for them to be a viable
economic zones,” Manalo said. “We shall be running in all cylinders. The question is how the BOI and PEZA can help everybody; what are the best practices. It’s really enabling smaller ecozones, IPAs to perform at their best levels,” he added. One of the administration’s strategies to address inclusive growth and eliminate poverty is through attracting more investments in the country that create more decent jobs for the people. Kris M. Crismundo of PNA
Mindanao opens ports to boost trade in ASEAN region
M
ANILA -- Mindanao is opening its seaports and airports for direct route to ASEAN neighbors, particularly Indonesia, which is expected to boost trade in the region. In a press briefing Tuesday, Philippine Chamber of Commerce and Industry (PCCI) Regional Governor in South Western Mindanao Rey Billena said shipments of goods from Davao to Bitung Port in Manado, Indonesia will now be easier as there will be a roll-on roll-off (RoRo) project that will start within the third quarter of the year. Likewise, the head office of PCCI mentioned in a statement the same day that the commercial shipping service will be through Surabaya-based PT. Kanaka Lines which has a capacity of 200 twenty foot equivalent (TEU) container that will have cargo shipping operations twice-monthly via Surbaya-Bitung-Davao route. The Davao-Bitung RoRo project is an offshoot of the signing of Memorandum of Cooperation between Davao City and Manado Chambers of Commerce and Industry in 2012. The project was endorsed by Trade Secretary Gregory L. Domingo. Early July, the Ministry of Trade of Indonesia allowed shipments of food and beverages, electronics, and garments from the Philippines. In d on e s i a pre v i ou s ly banned international shipments, including the Philippines, in entering the Bitung
Port. “Small and medium entrepreneurs, particularly those in food products, will benefit from the direct access to Bitung,” PCCI president Alfredo M. Yao stated. “The exemptions from Customs inspections, tarifffree privilege, and the freight cost savings of the initial list of Philippine export products to Indonesia have enormous impact on cross-border trade between two neighbors,” Yao added. Billena, on the other hand, added that the country is now in discussion to also have air services for offshore trading with Indonesia via Davao International Airport which will be launch in first quarter next year. Aside from these initiatives of opening Mindanao as a gateway to Southeast Asian countries for trade, the Mindanao Development Authority (MinDA) also proposed development corridor in the Southern Philippines which include Western Mindanao Development Corridor which will be the trading hub and processing center for EastASEAN Growth Area (EAGA) project, Northern Mindanao Development Corridor for trading of agri-mineral products, and Southern Mindanao See Ports, page B3
Five-year-old Rondel waits for his father, a motorcycle driver, to come home after work. Photographed on Monday (4 August 2014), he does this every afternoon. Rondel is one of the children whose families live under the bridge in Linamon, Lanao del Norte. MindaNews photo by Aubrey Llamas
INDEPENDENT THINK-TANK SAYS
‘Economy under PNoy: worsening exclusivity’ First of three parts AFTER four years of the Aquino administration, the most recent available data on various socioeconomic indicators affirm the exclusionary nature of the country’s economic growth, said the independent think-tank
Ibon Foundation. Jobs crisis continues The country is still facing the most unemployed and underemployed Filipinos in history, said the Ibon Foundation in a statement published on its website adding, “the government’s labor force data shows that
there were 4.5 million unemployed (correcting for official government underestimation) and 7.3 million underemployed.” “Put together, this means that 11.5 million Filipinos (over ¼ of the labor force) are unemployed or looking for See PNOY, page B2
‘Book’ to attract investors launched GENERAL Santos City–– The Department of Trade and Industry (DTI) in Region 12 is targeting to attract more major investments in the region through a newly-launched book that features the area’s top business opportunities. Ibrahim Guiamadel, DTI Region 12 director, said Monday the book mainly highlights potential business and investment projects or ventures in thriving industries within the region’s four provinces and five cities. “It’s a compilation of business opportunities that have ready markets in Region 12,” the official said. Guiamadel said they launched the book, which is entitled “Soccsksargen Compendium of Project Briefs,” in a recent trade gathering here. He said the publication is a project of the DTI-12’s National Economic Research and Business Assistance Center (NERBAC). It was prepared by private institutions, experts from Mindanao State University campus here and personnel from the DTI regional and provincial offices. “These business opportunities are presented in project brief form to give start-up and existing businessmen a bird’s eyeview of various business opportunities in the region,” Guiamadel said. He said the book, which See BOOK, page B3