BusinessWeek MINDANAO
YOUR LOCAL ONLINE BUSINESS PAPER
www.businessweekmindanao.com
Volume IV, No. 86
www.businessweekmindanao.com
Biz group seeks X X Briefly tax reforms to boost local agri M
Market Indicators As of 5:55 pm Apr. 5, 2014 (Saturday)
FOREX
PHISIX
US$1 = P44.94
6,561.20 points
0.01 cent
25.88 points
PBCom expansion
DAVAO City -- The Philippine Bank of Communications (PBCom) is eyeing several growth areas in Mindanao for its expansion. “We are supportive of new businesses so if we find new growth areas even in Mindanao whether or not we already have a branch there then we will make our presence felt,” Wilbert T. Lim, Head of PBCom for Visayas and Mindanao said in an interview. Lim said they are looking at putting up branches in Butuan since it is a good growth area. Among the factors that will determine the choice of an area for the setting up of a PBCom Branch are liquidity and money flow in the area and the existence of new businesses that need financial support.
By WALTER I. BALANE, MindaNews
ALAYBALAY City – Making all agriculture-related inputs and services exempt from the valueadded tax will make local agricultural products competitive in the ASEAN Economic Community (AEC) which starts next year, the Bukidnon Chamber of Commerce and Industry Inc. (BKCCII) said.
In a report given to members last week, BKCCII president Roderico Bioco said the chamber continues to push for preferential tax policy which he considered important for local competitiveness. “In most AEC members,
unlike the Philippines, all inputs and ser vices for agricultural production are VAT exempt, including fuel, transportation, and toll services (toll milling, toll breeding, etc.),” Bioco’s report said. He adde d t he move
would make their (other AEC members) agricultural products highly competitive when sold in the Philippines. Bioco said that while the proposed tax amendment would be difficult to implement, it is “a test of resolve for our government to truly help our industries compete in a new economic environment.” He cited that the chamber is working with Senators Juan Edgardo Angara and Paolo Benigno “Bam” Aquino IV on the proposal. He said the chamber has conducted an awareness drive on the Asean Free Trade Agreement and is now leading reforms/PAGE 11
ITSI to make VisMin IT at par with rest of PHL By BONG D. FABE, Correspondent
ONE of the leading information technology companies in the country has vowed to make the IT highway in the Visayas and Mindanao regions at par with the rest of the Philippines and spur g rowt h, st abi lit y and pro duc t iv it y in t hes e regions. Benjie Esquivel, president and chief executive officer of the Infinite Group of Companies, said that his company is introducing a new trend in the data and information dissemination industry so as to maximize and effectively use the technology to spur growth and progress. E s quivel, sp e a k i ng during the “Unified Data C e n t e r Te c h n o l o g i e s (UDCT)” seminar Friday at the newest posh hotel in this Northern Mindanao capital
city, said that Infinitecare Technology Solutions, Inc. (ITSI) is “here to provide our expertise to design, build and operate data center infrastructure to the next level so make it at par with other data centers in the country.” “I believe that Mindanao with its progress will catch up in the advancement of the IT to spur development on the island. And this is where ITSI and the Infinite Group of Companies can help,” he said. With various private companies now locating in Mindanao, there is a need to make individual company’s network harness the power to data centers, which is “a critical facility” in any institution such as power companies, banks, hospitals, among others, stressed Engr. itsi/PAGE 11
Another sofdrink firm opens plant in Misamis Oriental ARC Refreshments Corporation (ARC), the licensed bottler of US-brand RC Cola in the Philippines, has opened a new fivehectare, state-of-the-art plant in Tagoloan, Misamis Oriental recently to address
Rice sufficiency PITCHED to attain rice sufficiency in 2015, the Department of Agriculture 10 (DA-10) is going fullscale with its Agri-Pinoy Rice Program. From the 70 percent rice sufficiency rate in 2011, it swelled up to 90 percent the following year and then took another leap to 94 percent in 2013. DA-10 Regional Executive Director Lealyn A. Ramos attributed the success to the receptiveness of the local government units (LGUs) and farmers to agricultural modernization. Assistance in the procurement of hybrid seeds, machines, drying, storage and milling facilities were just some of the approach employed to help the farmers.
P15.00
Monday|April 7, 2014
a growing demand for this popular softdrink brand in the area. According to Butch Aves, ARC Vice President for Manufacturing and Technical Services, the modern facility opens/PAGE 11
Power supply in Davao seen in better shape by 2015
House probe into arms smuggling in CDO pushed
AQUARIUM FISH. A vendor of aquarium fish waits for buyers along the main road of Malaybalay City. Each bag sells for P20. mindanews photo by h. marcos c. mordeno
DAVAO City -- The entry of additional load in 2015 could make the power supply of Mindanao in better shape. R ome o Monteneg ro, director for investments and public affairs of the Mindanao
Development Authority (MinDA) said additional megawatts would be available next year for the island. By the first quarter of 2015, about 300 megawatts power/PAGE 11
By CRIS DIAZ of Mindanao Daily News
A C ONG R E S SIONA L inquiry would determine the credibility of reports that this port capital of Northern Mindanao has become a arms/PAGE 11
Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776