BusinessWeek Mindanao (January 21-22, 2022)

Page 1

BusinessWeek M I N DA N A O CREDIBLE

Volume XII, No. 95

Market Indicators FOREX

PHISIX

US$1 = P51.255

7,223.83

cents

X

37.51

RELIABLE

www.businessweekmindanao.com

AS OF 6:00 PM JANUARY 20, 2022 (THURSDAY)

0.14

YOUR MINDANAO-WIDE BUSINESS PAPER

X

points

Briefly

IN-DEPTH

Fri-Sat|January 21-22, 2022

P15.00

CDO’s milder COVID-19 cases attributed to 86% full vax rate By FROILAN GALLARDO MindaNews

C

Biz registration up TANGUB City - The Securities and Exchange Commission (SEC) on Tuesday said the increase of new incorporations and registrations in Northern Mindanao is an indication that business remains promising in the region in the last two years despite the pandemic. In a statement, lawyer Frederick A. Enopia, officerin-charge of the SEC-Cagayan de Oro (CDO) extension office, said for 2021, their office received a total of 1,505 registrations from 726 stock corporations; 67 partnerships; and 712 nonstock corporations. The total number constitutes a 27.56-percent increase from its 2020 figure, which the DTI said was an indicator of a higher filing of new incorporations and applications for expansion in capital.

from the long period of economic loss," he said. An increase in capital applications, the figures were derived from new company registration filings. The SEC-CDO believed these figures prove that the economy is going back to business as usual, particularly in Northern Mindanao and Caraga regions, which fall under the extension office's jurisdiction. Enopia also said their office has been innovative in its programs by launching PROGRESS/PAGE 6

New registrations show continued progress in NorMin: SEC

THE Fiscal Incentives Review Board (FIRB) has approved tax incentives for a P10billion cement manufacturing project in Davao del Sur set to supply infrastructure projects in Mindanao, the Department of Finance (DoF) said. The Oro Cemento Industries Corp. project’s estimated output is 50 million bags of cement each year, the DoF said in a statement on Monday. The FIRB granted the cement project a two-year income tax holiday, after which it will receive five years of enhanced deductions and duty exemption on capital equipment and raw materials imports.

PROVINCIAL governors in the Northern Mindanao region have called on their constituents to remain vigilant and take preemptive steps ahead of the new coronavirus disease 2019 (Covid-19) alert levels beginning Sunday, January 16. In a response to queries on Facebook, Misamis Occidental Gov. Philip Tan on Saturday said those travelers coming to the province, and residents entering establishments, should bring their vaccination cards especially those among the qualified population. In the absence of vaccination cards, Tan said an antigen test with a negative result can be an alternative.

726 stock corporations; 67 partnerships; and 712 nonstock corporations. The total number constitutes a 27.56-percent increase from its 2020 figure, which the DTI said was an indicator of a higher filing of new incorporations and applications for expansion in capital. "This is truly evident to what we are seeing today as business starts to operate once again. We have indeed loosened up our precautionary measures, which allow these establishments to recover

A senior citizen gets her second dose of Sinovac vaccine against COVID-19 in Cagayan de Oro City.

Tax incentives

Preemptive measures

mindanews file photo by froilan gallardo

AGAYAN DE ORO CITY – Fewer people infected with COVID-19 are getting confined or spending time in the city’s hospitals despite the spike in the number of infections because of the city’s high vaccination rate, officials said. Dr. Teodoro Yu, medical officer at the City Health Office (CHO), said during Monday’s daily briefer on COVID-19 that as of Jan. 16, 86 percent of the city’s target population for vaccination already had their second dose. The city, he said, targets to vaccinate 574,491 residents, including children aged 12 and above. In his presentation, Yu said 551,330 Kagay-anons MILDER/PAGE 7

TA N G U B C i t y - T h e Securities and Exchange C om m i ss i on ( SE C ) on Tuesday said the increase of new incorporations and registrations in Northern Mindanao is an indication t h at b u s i n e s s re m a i n s promising in the region in the last two years despite the pandemic. In a statement, lawyer Frederick A. Enopia, officerin-charge of the SEC-Cagayan de Oro (CDO) extension office, said for 2021, their office received a total of 1,505 registrations from

Mining firms require close monitoring, says new MinDA chair By ANTONIO L. COLINA IV, MindaNews

DAVAO C i t y – Ne w l y appointed Mindanao Development Authority ( M i n DA ) c h a i r M a r i a Belen Sunga Acosta said extractive industry practices need thorough review and operations of mining firms require close monitoring. In a statement released on Wednesday, Acosta, a former councilor of Davao City’s First District, acknowledged the

contribution of the industry as one of the country’s economic drivers but she added that the review and monitoring of the mining industry are needed to “prevent pollution and contamination, distortion of ecological balance and damage to water systems.” The siltation pond of a mining company overflowed to Mapagba River, and MONITORING/PAGE 6

Generous donors deliver tents to residents in Barangay Tawin-tawin in the municipality of General Luna in Siargao Island on Wednesday (19 January 2022). This group has donated the same tents to various communities in the island as majority of the residents are still living in makeshift houses with salvaged roofs due to the devastation of super typhoon “Odette.” mindanews photo by roel n. catoto

Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.