BusinessWeek Mindanao (July 17, 2017)

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BusinessWeek MINDANAO

YOUR Mindanao-wide BUSINESS paper

CREDIBLE

Volume VIII, No. 17

Market Indicators As of 6:00 pm july 14, 2017 (friday)

FOREX

PHISIX

US$1 = P50.623

7,885.90

14.2 cents

X

50.95

X

points

Briefly Grants for Marawi TWO MULTILATERAL institutions may collaborate in pooling assistance grants for the rehabilitation of Marawi City, Socioeconomic Planning Secretary Ernesto M. Pernia said. Mr. Pernia said the World Bank (WB) and Asian Development Bank (ADB) are studying the possibility of technical assistance (TA )grants. “The World Bank has expressed interest in helping, it’s a technical assistance grant for rapid damage and needs assessment over the short medium and long term, what are the needs for reconstruction and rehabilitation over short medium long term, and which also could be implemented with other partners,” he told reporters last Monday.

RELIABLE

P15.00

Phividec belies Benjo’s claim on P1B back taxes www.businessweekmindanao.com

Monday | July 17, 2017

By GERRY LEE GORIT, Reporter

T

AGOLOAN, Misamis Oriental – The stateowned PHIVIDEC Industrial Estate has denied the allegation by its newlyinstalled board of director Benjo Benaldo that more than P1 billion remained uncollected from its locators in terms of unpaid real property taxes an rentals, calling it premature and done without consultation and study of the transactional history of the locators involved. Leo Magno, PIA Administrator, in his response to the allegation made through the media on July 8, 2017, said the locators were needlessly embarrassed despite the fact that their listed liabilities have yet to be legally determined and resolved. Earlier, former Cagayan de Oro first district representative Benjo Benaldo, now director of PHIVIDEC after having been appointed last May 25, told media practitioners during a press conference last phividec/PAGE 11

STREETDANCING. Seventeen contingents from different schools and barangays in Ozamiz City compete against each other in a street dancing showdown held at the city’s downtown area Saturday morning. The event was in line with the city’s 69th Charter Day anniversary and Feast of Senora dela Concepcion y del Triunfo on July 16. photo by gerry lee gorit

Trade missions to lure investment in Mindanao amid Marawi crisis

Vulnerable families ABOUT FOUR in every 10 Filipino households has experienced poverty at least once in the previous three years, with two Mindanao regions leading the country in households vulnerable to poverty, according to a study by a state think tank. Philippine Institute for Development Studies (PIDS) researchers Christian D. Mina and Celia M. Reyes said that 37.7% of the sample households fell below the poverty line once during the period, using data from 2003 to 2009. However, it also said that eight in every 10 or 77.4% of poor households were classified as vulnerable -- those threatening to slip below the poverty threshold.

IN-DEPTH

By ANTONIO L. COLINA IV, MindaNews

Port Manager Bong Butaslac presides over a meeting with with TUV Rheinland.

Big Picture from Cagayan de Oro Seaport:

DAVAO City -- The Mindanao Development Authority (MinDA) will join Philippine i nv e s t m e nt p ro m o t i on officials in a series of business missions this year to convey to prospective investors the “current context in the investment opportunities in Mindanao” amid the ongoing

Marawi crisis. First on the list is the s e ven-day investment roadshow in South Korea by the Philippines Investment Promotion Plan of the Board of Investments from July 17 to 23, said Romeo Montenegro, director for Investment Promotion, International

Relations and Public Affairs of MinDA. “ T h i s i s a n a n nu a l undertaking of the PIPP to roll out investment promotion activities in specific targeted markets,” he said. Aside from MinDA, the missions will include officials from Freeport Area of Bataan, B a s e s C onv e r s i on an d trade/PAGE 11

Finding solutions beyond Mindanao seen as big deposit contributor AVA O C i t y - - T h e deposits from Mindanao but Support (ICONS) Program, infras for present, future DDevelopment Bank of the this will be plowed back into a support to contractors of (Third of a Series) By MIKE BAÑOS, Editor-at- Large

Engineering solutions For the long term, the PMO team has programmed its 7 Pillars of Development infrastructure program

which would not only address but help sustain the region’s growth over the following decades. solutions/PAGE 11

Philippines (DBP) sees Mindanao as a big contributor in terms of generating deposits. According to Development Bank of the Philippines (DBP) president and chief executive officer Cecilia Borromeo, the bank will be getting more

the island’s economy by way of loans to various sectors. Being the state’s infra bank, Borromeo said Friday there is a continuing stream of development projects coming into Mindanao. DBP has launched here its Infrastructure Contractor

various infra projects in various levels such as the local government units, national government agencies, local water districts or even housing developers getting the services of these contractors for their projects, contributor/PAGE 11

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


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