BusinessWeek Mindanao (April 28, 2017)

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BusinessWeek MINDANAO CREDIBLE

Volume VII, No. 143

Market Indicators

As of 5:10 pm April 27, 2017 (thursday)

FOREX US$1 = P49.699

1.4

PHISIX 7,726.45

X X Briefly

cents

25.99 points

More ME flights to Davao sought FLAG carrier Philippine Airlines (PAL) hopes that United Arab Emirates (UAE) airlines such as Etihad and Emirates will have direct flights between UAE and Davao International Airport. PAL explained that if the new routes are established, that would be the first international route from Mindanao to destinations outside Southeast Asia. Thus, this would further boost Davao as a tourism hub. Moreover, PAL explained that the Davao International Ai rp o r t wi l l b e a g o o d alternative to the Ninoy Aquino International Airport (NAIA), which is already congested. ”Airlines have a maximum of 40 take offs or landings per hour. As such, local airlines have been required to reduce some of our domestic flights,” it added.

Power subsidy INVESTORS in three Mindanao regions will be granted subsidized power rates as part of government efforts to lure investments to create jobs in the country’s poorest areas. Philippine Economic Zone Authority (PEZA) directorgeneral Charito B. Plaza said the three regions are Autonomous Region in Muslim Mindanao (ARMM), CARAGA and Region 11. According to Plaza, investors in these regions will pay only P2.50 per kilowatthour instead of the regular P6 per kwh. Plaza said these regions have long been deprived of investors.

$135b power investments THE government is urging the private sector to pour money into the energy sector which requires an investment of up to $135 billion over the next 25 years. “Energy is needed to support all of these infrastructures,” said Energy Secretary Alfonso Cusi during the second Dutertenomics forum Tuesday night. Cusi said the country needs to increase its power generation capacity by 43,000 megawatts to support infrastructure projects identified under Ambisyon Natin 2040.

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By ANTONIO L. COLINA, MindaNews

AVAO City – Sounding optimistic over the economic opportunities that could be unlocked with the launch on April 30 of a new shipping route between Mindanao and Indonesia, an official declared that the island “is now catching up” with the rest of the country.

RO-RO: The opening of a roll-on-roll-off sea link with Indonesia is seen to boost Mindanao development. (https://en.wikipedia.org)

Mindanao Development Authority Chair Abul Khayr Alonto told “Wednesdays at Habi at Kape” that Mindanao is now being poised as the gateway of the Philippines to the world. On Sunday President Rodrigo Duterte and Indonesian President Joko Widodo will arrive in Davao for the launch of the Davao-General Santos-Bitung, Indonesia roll on/ roll off shipping service. The two leaders are attending the Association of Southeast Asian Nations (ASEAN) Summit on April 26-29 in Manila. Nineteen Indonesian business

San Miguel Brewery starts building new plant in MisOr By NICOLE ROA MANAGBANAG, PNA

TAGOLO-AN, Mis amis Oriental -- San Miguel Brewery, Inc. (SMB), Asia’s longest running brewery, is putting up a new plant in a 54-hectare property in Barangay Sta. Ana here. G o v e r n o r Ye v g e n y Vincente Emano said the construction of the new SMB plant “is a dream come true” for the province. Emano, who was out of t h e c ou nt r y du r i n g

the groundbreaking ceremony last Monday, said the construction of t h e n e w SM B pl ant i n Misamis Oriental shows the confidence of investors to the business environment of the province. ”The operation of the new SMB plant would mean employment opportunities and economic development i n M i s a m i s O r i e n t a l ,” Emano said in his message

THE Philippine Economic Zone Authority (PEZA) is now in discussion with the energy department to prepare the initiative of providing power subsidy to investors

that will be locating in economic zones in Mindanao. PEZA Director General Charito Plaza said it is a high time to grant such incentive subsidy/PAGE 11

Power subsidy in M’nao sought for Mid-East biz

read by Tagolo-an Mayor Heckert Emano. SMB President Roberto N . Hu a n g a n d a c t i n g Governor Joey Pelaez led the groundbreaking ceremony witnessed by local government and village officials. SMB officials said the new brewery would be completed in less than two years and would have a full capacity of three million hectoliters. The last brewery was built in the Davao region in 1995. plant/PAGE 11

leaders will accompany Widodo. Alonto said these businessmen will come from the Indonesian Chamber of Commerce and may even extend their stay in the city to explore opportunities with their local counterparts on how they can work together to sustain the new shipping route. “This will be an opportunity to already work it out with their counterparts coming from Indonesia. We have Indonesian companies already based in the country who will also participate,” he said. The Indonesian businessmen will link/PAGE 11

HAIL THE KING! Brunei Darussalam Sultan Hassanal Bolkiah is given full military honors upon his arrival at the Ninoy Aquino International Airport in Pasay City on April 26 for his state visit to the Philippines and attendance at the 30th Association of Southeast Asian Nations Summit. Accompanying the Brunei Darussalam ruler is Philippine Air Force Commander Lt. Gen. Edgar Fallorina. ace morandante / presidential photo

Davao Region consumed less rice, more corn in 2015-16, survey says By ANTONIO L. COLINA IV, MindaNews

DAVAO City – Per capita rice consumption in Davao Region decreased by 10.77 percent while that for corn increased by 47.43 percent based on the 2015-2016

Survey on Food and Demand of the Philippine Statistics Authority (PSA). The survey dated April 10 showed the annual per survey/PAGE 11

ROAD RUNNERS. A group of bikers swarms as they cross the highway of JC Aquino in Butuan City on Wednesday and continue their journey heading towards Cagayan de Oro.” photo by jun ayensa

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