BusinessWeek MINDANAO CREDIBLE
Volume VII, No. 094
Market Indicators
As of 6:12 pm January 3, 2017 (Tuesday)
FOREX
PHISIX
US$1 = P49.788
6,658.20
X
1.9 cents
20.67 points
X
Briefly Miss Universe THE 65th edition of Miss Universe pageant activities kicked off with the rousing visit of beauty titlists from 12 countries recently, who altogether provided a fitting climax to this year’s Philippine tourism program. “It gave a sneak-peek of the Philippines’ bestkept secrets as a worldclass tourist destination, an ideal and safe haven for international visitors,” Tourism Secretary Wanda Tulfo-Teo was quoted as saying. The country’s hosting of the prestigious beauty contest in January 2017 has been the focus of the Department of Tourism (DOT) under Secretary Teo as part of her plans to boost visitor arrivals to the country since assuming office in July.
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By CARMELITO Q. FRANCISCO, Correspondent
D
AVAO City -- The Davao Region office of the Department of Agriculture (DA-11) has initiated the formation of corporate farms for rice with the local government units as main actors of the program. Regional Director Ricardo G. Onate, Jr. said the initial response has been positive with several municipal governments expressing intent to join existing cooperatives based
in five towns in Davao del Sur province. “It is hard to expand the areas, but what we can do is expand production (by connecting small producers to create a bigger group),”
Wednesday | January 4, 2017
Mr. Onate said in a media forum yesterday. At present, the region’s average rice production rate is four tons per hectare (ha) a year, but some farms in Davao del Sur have achieved about seven tons. Davao Region has about 103,000 ha of rice farms, based on data from the Philippine Statistics Authority. With joint development efforts through the corporate farms, the DA-11 is aiming to increase the regional annual farms/PAGE 11
A woman farmer prepares to transplant rice seedlings in one of the rice producing towns in Maguindanao. Mindanews Photo
DOT targets 3-M hike in visitors in 2017 THE Department of Tourism (DOT) is aiming a three million increase in visitor arrivals this year from 2016’s six million in Davao region. Tourism Secretary Wanda Corazon Teo in an interview Monday said, “this mark could be too ambitious but we will market our destinations around the globe the best
Fish price monitoring MAMBAJAO, Camiguin – While finding effective ways to bring down the prices of fresh catch fish at the Mambajao Public Market, local officials are appealing for cooperation from stakeholders. Soaring prices of meat, along with vegetables have been a growing concern here and the local government unit has been trying out measures to address the issue. Mambajao Sangguniang Bayan Member Norgene L. Ceniza expressed the intent of Mayor Jurdin Jesus Romualdo to help out the vendors and the fisherfolk, but ultimately to bring relief to the consumers. Ceniza said the chief executive is eyeing also on reducing the prices of agricultural produce but for now putting its priority in resolving the prices of fish meat at the local market here.
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Rice farms consolidate to increase efficiency www.businessweekmindanao.com
LAUNDRY DAY. Villagers wash their laundry by a creek in the hinterland village of Tagbalogo in Naawan, Misamis Oriental Monday (2 January 2017). MindaNews photo by Bobby Timonera
Vitarich to ink supply deal with farmers, DA for corn mill By CARMELITO Q. FRANCISCO, Correspondent
DAVAO CITY -- Agribusiness f ir m Vit ar ich C or p. is partnering with local farmers
and the Department of Agriculture (DA) to process corn supply at the company’s
new feed mill in the city. DA Davao Region Director Ricardo M. Oñate, Jr. said the department and the vitarich/PAGE 11
way we could.” “You know I am very ambit i ou s but we w i l l work hard for it,” she said, explaining that 2017 is a very busy year for as several events have already been lined up towards the end of the year. “We are starting the year right with big international hike/PAGE 11
Investments in Davao hit almost P8B as of 2016 3Q By ANTONIO L. COLINA IV, MindaNews
DAVAO City – Investments in Davao Region reached P7.684 billion as of third quarter of 2016, records from the Department of Trade and Industry (DTI) 11 showed. The third quarter investments in 2016 already surpassed by 38.7 percent the entire 2015 record of P4.708 billion. DTI 11 reported that of
these investments, Davao City bagged 33 percent, Davao del Sur 29 percent, Davao del Norte 27 percent, Compostella Valley 7 percent, Davao Oriental 4 percent. Davao Occidental, a province carved out from Davao del Sur, had no investments yet. Most investments came investments/PAGE 11
PSALM still has P466-B collectibles from privatization proceeds By MYRNA VELASCO, Contributor
STATE asset-seller Power Sector Assets and Liabilities Management Corporation (PSALM) still has US$9.36 billion (or P466.22 billion at
current peso-dollar exchange rate) worth of privatization proceeds to collect which may be utilized to pare its debts and other financial
obligations. The company emphasized that from its accomplished privatization mandate it fetched “a total of US$19.891 billion,” and of the entire proceeds, “actual collection
amounted to US$10.531 billion,” as of second quarter of 2016. B ased on data f rom the company, it has yet to receive payments at aggregate US$6.899 billion from the
independent power producer administrators (IPPAs) of the privatized power supply contracts of the National Power Corporation. The total proceeds from psalms/PAGE 11
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