BusinessWeek Mindanao (February 4-5, 2022)

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BusinessWeek M I N DA N A O CREDIBLE

Volume XII, No. 100

Market Indicators

AS OF 6:00 PM FEBRUARY 3, 2022 (THURSDAY)

FOREX US$1 = P51.045

PHISIX 7,458.99

X X Briefly

0.91

97.34

cents

points

Free trade deals SUPPORT for local farmers and businesses should be strengthened as the country opens itself to more free trade deals like the Regional Comprehensive Economic Partnership (RCEP), a former cabinet member and senatorial aspirant said. In a statement Wednesday, senatorial bet Gilbert “Gibo” Teodoro expressed his support to the country’s participation in free trade agreements (FTAs) like the RCEP, but assistance for domestic sectors, particularly agriculture sector, should be bolstered. “Free trade agreements like the RCEP provide a larger playing field full of new opportunities for our Filipino enterprises, including those in the agriculture sector. As FTAs cut tariffs and duties, this enables Filipino products to become competitive in other markets,” he said.

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76% vax rate A TOTAL of 59,120,367 individuals nationwide or 75.7 percent of the target population are now fully vaccinated against the coronavirus disease 2019 (Covid-19), according to the National Task Force Against Covid-19. In an interview Wednesday night, National Task Force Agaiqnst Covid-19 consultant Dr. Maria Paz Corrales said the number is 53 percent of the total Philippine population. More are expected to receive the life-saving shots as the national government further ramps up its vaccination campaign, expanding it to children aged 5 to 11 years old starting February 4, and in provinces badly hit by Typhoon Odette last year.

HOT ITEMS. Piles of container vans are being examined by the Bureau of Customs to check if they contained smuggled items at the Mindanao Container Terminal yard in Tagoloan, Misamis Oriental. photo's by gerry lee gorit

5 BARMM investors generate P1-B worth of investment MARAWI City — Five investors of the Bangsamoro Autonomous Region of Muslim Mindanao (BARMM) received their certificate of registration from the Regional Bangsamoro Board of Investments (BBOI) on Thursday, February 3.

HE provincial government of Misamis Oriental is opening its doors to the Tourism Infrastructure Economic Zone Authority (TIEZA) and urging it to invest more in the province. In an interview on Wednesday, Governor Yevgeny Vicente Emano said the tourism industry can get a boost from more TIEZA investments, on top of existing tourism-related programs in the province. "I think the related laws (in tourism and industry) are already there, what is needed is the implementation," he said. In 2020, TIEZA entered into an agreement with Lanao del Nortebased contractor AJD Construction and Supply for PHP3 million worth of Tourist Assistance Center which will be built in Gingoog City, Misamis Oriental. In its 2021 accomplishment report, TIEZA included in its list of ongoing community-based projects the protected landscape and seascape undertakings between the towns of Initao and Libertad which cost P7.26 million. Another is the Alibuag Spring TIEZA/PAGE 7

Of the five investment comp an ie s , t hre e we re approved last year, namely Eight Z’s Properties Building Rental, Lanao Del Sur Corn Development Corporation and Prime Certification, and Inspection Asia Pacific, Inc. INVESTORS/PAGE 7

Public Service Act THE House of Representatives on Wednesday night ratified the bicameral conference committee report on the measure proposing amendments to the Public Service Act (PSA) in a bid to attract more foreign investments. During the plenary session, the chamber approved the final version of the proposed amendments to the PSA, which seek to ease the restriction on foreign investments in public services. The bill effectively opens up to 100 percent foreign equity on all economic sectors in the country except the transmission and distribution of electricity, water pipeline and sewerage, seaports, petroleum pipeline, and public utility vehicles.

IN MEMORIAM. Misamis Oriental Gov. Yevgeny Vincente "Bambi" Emano (left) and Miss Kuyamis 2022 Annabelle Mae McDonnell (right) plant an oolong tea seedling at the foot of Mt. Sumagaya Claveria, Misamis Oriental Wednesday (February 2). It was in this area 24 years ago that Cebu Pacific Flight 387 crashed, killing all 104 persons aboard. Oolong tea is being promoted as an agricultural staple produce in the province. photo's by gerry lee gorit

Davao residents warned virus positivity rate remains high By ANTONIO L. COLINA IV, MindaNews

DAVAO City – Residents should not lower their guard as the positivity rate of COVID-19 in the city remains high despite seeing a continuous decrease in the number of daily new

infections since last week, an official of the Davao City COVID-19 Task Force warned on Wednesday. Dr. Michelle Schlosser, task force spokesperson, told Davao City Disaster Radio

(DCDR 87.5) on Wednesday that the latest positivity rate here decreased to a daily average of 32% compared with the previous weeks’ daily average of 48% to 50%. She, however, the public must remain vigilant because WARNED/PAGE 7

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