BusinessWeek MINDANAO CREDIBLE
Volume VII, No. 086
Market Indicators
As of 6:21 pm December 15, 2016 (thursday)
FOREX
PHISIX
US$1 = P49.92
6,855.31
12.0 cents
X
73.03
X
points
Briefly Christmas bonuses MORE than 3,000 city hall workers here would receive additional bonuses before Christmas, a city official said Wednesday. City Councilor Ian Nacaya said that City Council approved last Monday the release of PhP 5,000 productivity enhancing incentive to all city hall officials and employees. Aside from the productivity enhancing incentive, each city hall employee would also receive PhP 10,000 personnel motivation incentive, Nacaya said.
Investment code SURIGAO City – The Department of Trade and Industry (DTI) recently conducted a briefing on the formulation of the Local Investments and Incentives Code (LIIC) to the local government unit of Sison held at the town’s session hall. Sison Mayor Karissa R. Fetalvero-Paronia said they have prioritized the crafting of the said investments and incentives code in order to attract private sector investments in the municipality that will hopefully create more employment opportunities. Rodrigo R. Matabaran of DTI Surigao del Norte discussed during the briefing the objectives, benefits and processes of investment promotion, the legal basis as well as the basic framework in the formulation of the LIIC using the template being provided by the Board of Investments.
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Normin posts 15.6% increase in rice output
By Mark D. Francisco Staff Writer
T
HEgovernment’s “LGU P4” program has focused itself towards full electrification in the countryside, particularly in Mindanao, official of the Department of Interior and Local Government (DILG) said.
In an interview, Bureau of Local Government Development director Anna Liza F. Bonagua said that DILG had already tapped the Philippine Chamber of Commerce and Industry (PCCI) for its members to invest in renewable energy sources to electrify far-flung villages in Mindanao. Ironically, there is an oversupply of electricity generated in various parts of Mindanao but has not trickled down to remote barangays in the provinces. Ms. Bonagua said that businesses may choose from the following schemes for public-private partnership: build and transfer, buildprogram/PAGE 11
By MARK D. FRANCISCO Staff Writer
CHRISTMAS TREE. Residents enjoy the big lighted Christmas tree in Divisoria, Cagayan de Oro City Monday evening. MindaNews photo by Froilan Gallardo
DOT cancels Miss Universe fashion show in Davao due to ‘controversy’ By JESSE PIZARRO BOGA, MindaNews
D AVA O C i t y – T h e Department of Tourism cancelled the Miss Universe fashion show originally
scheduled in Davao City on Jan. 19 purportedly to avoid further “controversy.” “As head of the ancillary
events of the DOT for Miss Universe, I have decided to cancel the fashion show in Davao City. This is to prevent controversies that may arise cancels/PAGE 11
DESPITE the slack in farm output as indicated in the recent report by the National Economic and Development Authority (Neda-10), palay production in Northern Mindanao grew by 15.6 percent to 215,201 metric tons for the third quarter of this year. According to the NEDA report released last Wednesday, Lanao del Norte posted a remarkable increase in production due to the repaired irrigated canals in two municipalities, as well as rationing after each cropping season and seed assistance from their respective local government units which provided high yielding rice varieties. Bukidnon also contributed to the robust yield due to the fertilizer subsidy from the Department of Agriculture (DA). Small palay farmers also benefited from a new rice/PAGE 11
Davao City draws interest of China, Japan as investment site DAVAO City -- The Davao City Investment and Production Center (DCIPC) revealed it is now getting several queries from Chinese and Japanese investors on possible business opportunities here. DCIPC head Lemuel Ortonio said the interest of the investors of these two countries especially China picked up after President Rodrigo Duterte’s visit to China’s capital Beijing last October. He said most of those Chinese investors fielding queries at DCIPC readily mentioned President Duterte’s visit to their country and where the President invited possible investors to Davao City.
Although nothing is final yet, Ortonio said these investors expressed their interest to locate in Davao City particularly on the services sector. There is still a need to put up additional four-star hotels and convention center, according to Ortonio during Tuesday’s Biz Forum at Dermpath, SM Davao. Meanwhile, Ortonio also disclosed plans by some investors to set up light manufacturing for car parts assembly. Most of the interested investors are taking advantage of the many opportunities in the city. Among these are on agri-business sector, interest/PAGE 11
ENDEMIC BIRD SPECIE. Philippine Swamphen (Porphyrio Pulverulentus), a bird species endemic to the Philippines. Taken in Sitio Panlabuhan, Loreto, Agusan Marsh Wildlife Sanctuary, Agusan del Sur during the expedition of Mindanao Avian Photographic Society (MAPS). (Photo by CLEMENT DAMPAL of bestspotsph.com)
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