BusinessWeek M I N DA N A O
YOUR Mindanao-wide BUSINESS paper
CREDIBLE
Volume VIII, No. 136 As of 6:00 pm April 19, 2018 (thursday)
FOREX
PHISIX
US$1 = P52.07
7,793.13
2 cents
69.74 points
X
Briefly Oil palm SEVERAL initiatives are underway for the development of oil palm plantations with milling facilities in Davao Region involving proponents from Malaysia, the world’s second biggest producer of palm oil. Davao City Chamber of Commerce and Industry, Inc. President Arturo M. Milan said the chamber is preparing to sign an agreement with members of the Sarawak Chamber of Commerce with interests in the palm oil industry. “Their president will be coming over and they will be bringing a delegation coming from Sarawak… in June. They are just waiting for our advice,” Mr. Milan told the media in a forum last week. Mindanao budget DAVAO City -- Budget Secretary Benjamin E. Diokno said the government is commitment to pump-prime Mindanao’s growth by increasing its share in the national budget, with the main southern island historically being allocated a 13% share. “Mindanao will receive at last P17 billion or 38% of the total infrastructure projects of the entire Philippines for 2018. It will get 33.8% of the total capital outlays for the whole country, so that’s more than one third,” Mr. Diokno said in an interview with the media before his scheduled talk at last Friday’s launch of the “Philippines Mindanao Jobs Report: A Strategy of Mindanao Regional Development” in Davao. “We are committed to increase investments, both infrastructure and human capital so that we can pump-prime Mindanao’s economy and help it realize its potential,” he added.
IN-DEPTH
P15.00
Lapasan Highway, Cagayan de Oro City
Regional line agencies submit P233-B budget www.businessweekmindanao.com
Market Indicators
X
RELIABLE
Cagayan de Oro
N
Friday|April 20, 2018
By MARK FRANCISCO, Staff Writer
ATIONAL line agencies and government-owned colleges based in this region submitted a total of P233 billion 2019 proposed budget for consideration.
In a press statement, the National Economic and Development Authority (NEDA) reported that the Department of Public Works and Highways (DPWH) had the largest proposed budget of P151 billion. The rest of the breakdown are the following: In f r ast r u c tu re / Ut i l it i e s Sector agencies (CAAP, DICT, DPWH, LTFRB, LTO, MARINA, NIA, and NTC) reaching a total of P155.585 billion (67.97%); the Social Sector agencies (CHED, DepEd, DOH, DSWD, NCIP, NHA, TESDA) with P63.844 billion, (27.89 %) and State
Universities and Colleges (SUCs) namely BSU, CMU, CPSC, NMSC, and USTP with P4.621 billion (2.02%); the Economic Sector agencies (BFAR, DA, DAR, DENR, DOST, DOT, DTI, EMB, and MGB) with P7.623 billion (3.33%); and Macro Sector agencies ( BFP, DOF-BIR, DOF-BLGF, CDA, CSC, DILG, DOLE, NEDA, and PSA) with P1.847 billion (0.81%). A total of 33 line agencies and five state-owned universities and colleges submitted their proposals. The Maritime Industry budget/PAGE 11
GOTCHA! Sailfish, tuna and tanguige, are some of the species caught by participating anglers from different counties vying for the 11th Siargao International Game Fishing Tournament in Pilar town, Siargao Island, Surigao del Norte in this photo taken Friday afternoon, April 13, 2018. The competition ends Sunday. mindanews photo by roel n. catoto
‘Make Mindanao southern Business as usual at Seven Seas frontier, not the southern backdoor’, says SPDA chief No closure order: By MIKE BAÑOS Editor-at-Large
THE owners and operators of the Philippine’s first pirate themed water park has clarified it continues normal operations and remains open to the public. “In response to queries from visitors and tourists coming to Cagayan de Oro and Misamis Oriental,
By ANTONIO L. COLINA IV, MindaNews
DAVAO City -- Former Basilan governor Abdulgani “Gerry” A. Salapuddin vowed to revitalize the Southern Philippines Development Crowds enjoying themselves at Seven Seas Waterpark and Resort Wave Pool.
would like to clarify the situation regarding the status of Seven Seas
Waterpark and Resort,” said Elpidio M. Paras, usual/PAGE 11
Authority (SPDA), a governmentowned and controlled corporation (GOCC) tasked to implement frontier/PAGE 11
R-12 workers get wage hike By Mindanews
GENERAL Santos City -- Private workers in Region 12 will receive an
additional P16 to P18 increase in their daily wages by next month, bringing the region’s pay floor to P311. wage/PAGE 11
Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776