BusinessWeek Mindanao (February 3-4, 2021)

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BusinessWeek M I N DA N A O CREDIBLE

Volume XI, No. 101

Market Indicators AS OF 6:00 PM FEB. 2, 2020 (TUESDAY)

FOREX

PHISIX

US$1 = P 48.053

6,867.88

X X Briefly

1.20

53.12

cents

points

OFW dev't fund THE Development Bank of the Philippines (DBP) and the Mindanao Development Authority (MinDA) have agreed to establish an investment vehicle where Overseas Filipino Workers (OFWs) can deposit their hard-earned money for modest earnings while at the same time help rebuild the country's economy. In a post on his Facebook Page Tuesday, Secretary Emmanuel Piñol said the initiative arose from his discussions with top DBP officials led by its president, Emmanuel Herbosa, on Monday. Both parties agreed to work on the details and mechanics of the "MinDA OFW Investments Fund," which is expected to offer the country's foreign workers a secure investment program.

'Front-liners Month' A PENDING measure before the Cagayan City Council here seeks to declare February as "Covid-19 Front-liners' Month," drawing praises from public health officials. The proposed ordinance aims to designate the last Monday of February as a day of remembrance for "the sacrifices and efforts of both medical and nonmedical front-liners in the city´s campaign against the pandemic," said Councilor Edgar Cabanlas, co-author of the measure. "The pandemic caused an upheaval not experienced since World War II. Let´s not forget but remember those who sacrificed much, including their lives for us,” Cabanlas said Tuesday.

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Slow recovery expected for Mindanao this year B Thank you for trusting us!

By ANTONIO L. COLINA IV, MindaNews

USINESS leaders in Mindanao has expressed optimism the island will slowly recover in 2021 from the economic lag it suffered last year due to the coronavirus disease (COVID-19) pandemic.

Maria Lourdes Monteverde, who will again be president of the Davao City Chamber of Commerce and Industry Inc. (DCCCII), said in a statement that

Mindanawons must learn to “adapt and live” despite the threats of COVID-19 although she believes that the year 2021 will remain RECOVERY/PAGE 7

Mindanao schools get chairs made of recycled plastics By MARK FRANCISCO, Reporter

MORE than 2,000 classroom chairs made out of recycled plastic have been donated by the Villar Social Institute for Poverty Alleviation and Governance (Villar SIPAG) in schools all over Mindanao. Since 2017, Villar SIPAG has operated a waste plastic recycling factory in Cagayan

de Oro City, producing 200 chairs a month to be distributed in public schools. This is part of Sen. Cynthia Villar's plastic recycling program as part of her initiative as chairperson of the Senate committee on the environment. CHAIRS/PAGE 7

CORN HARVEST.Farm workers harvest corn with a mechanical harvester in Barangay San Jose, Malaybalay City. mindanews photo by h . marcos c . mordeno

TOURISM COMPLEX. The Cebu Pacific Shrine, a landmark commemorating the ill-fated Flight 387 that crashed in the mountain ranges of Claveria, Misamis Oriental, has been transformed into a Tourism Complex and Botanical Garden.

Misor enhances Cebu Pacific shrine as a tourism complex SERVING as a pleasant surprise and enticing news for tourists and Misamisnons alike, Governor Yevgeny Vincente Emano leads the blessing and inauauration of Northern Mindanao's newest toust destination, the Misamis Oriental Tourism Complex and Botanical Garden. A tribute to the success of Emano's flagship program of tourism, tnis landmark project seeks to bring about hope to Misamisnons amidst the pandemic. L e d by E m a n o a n d provincial tourism head Atty. Jeffrey Saclot, the

inauguration of the Misamis Oriental Tourism Complex and B ot anic a l Garden, held in unison with the commemoration of the Cebu Pacific Flight 387 crash, aims to encourage people to have a wider array of options when visiting the area by boasting of amenities and

attractions previously known to be available only from neighboring provinces. Located midway between the municipality of Claveria and Gingo og City, t he relaxingly cool destination in addition to the beautiful botanical landscapes, will be SHRINE/PAGE 7

20,592 workers in Davao region lost their jobs in 2020: NEDA By ANTONIO L. COLINA IV, MindaNews

DAVAO City — At least 20,592 workers in the Davao region lost their jobs last year due to the coronavirus disease (COVID-19) pandemic, the regional of f i c e of t h e Nat i on a l Economic Development Authority (NEDA) reported on Friday. In her presentation on the Highlights of Davao Region’s

2020 Socioeconomic performance, NEDA-Davao director Maria Lourdes Lim said that as of December 31, 2020, out of the total affected workers, 18,470 were retrenched as companies opted to downsize operations due to redundancy of work functions and heavy financial losses. JOBS/PAGE 7

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