BusinessWeek Mindanao (July 29, 2016)

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BusinessWeek MINDANAO CREDIBLE

Volume VII, No. 023

YOUR Mindanao-wide BUSINESS paper

RELIABLE

www.businessweekmindanao.com

IN-DEPTH

P15.00

Friday | July 29, 2016

DESPITE SLACK IN INDUSTRY AND SERVICES SECTORS:

Normin posts 5.5% growth

N

By APIPA BAGUMBARAN, Contributor

ORTHERN Mindanao’s economy continues its robust growth despite the slack in industry and services sectors, the Philippine Statistics Authority (PSA) said. PSA Regional Director Eddie Nasol said the region posted a posted a 5.5% yearon-year growth in 2015 as its gross regional domestic product (GRDP) topped P283 billion, up by P15 billion from the region’s economic output in 2014.

GRDP covers the value of goods and services in the region. It measures the relative contribution of three major economic industries: A g r i c u l t u r e , Hu nt i n g , Forestry & Fishing (AHFF), Industry, and Services. But such increase is lower

from the 7.1 percent GRDP growth posted in 2014, Nasol said. According to him, the deceleration of the regional economy was attributable to the slowdown in the Industry and Services. Industr y decelerated by 4.2 percentage points from 8.5 percent in 2014 to 4.3 percent in 2015, while Services slowed down by 0.9 percentage point from 8.3 percent to 7.4 percent. Manufacturing, which growth/PAGE 7

Mindanao’s second largest economy By APIPA BAGUMBARAN, Contributor

NORTHERN Mindanao ranked as the second largest economy among the regions in Mindanao in 2015 maintaining a share of 25.9 percent of the total output in Mindanao following Davao region

which shared 27.8 percent. SOCCSKSARGEN ranked third with 18.6 p e r c e nt c o nt r i b u t i o n followed by Zamboanga Peninsula and CARAGA with 14.3 percent and economy/PAGE 7

S&R-Cag. de Oro exceeds quota ahead of opening By URIEL C. QUILINGUING, Contributing Editor

SMUGGLED ITEMS. Bureau of Customs officials in Northern Mindanao open five containers with two Mercedes Benzes and Porsche cars, used clothing and meat, all worth P11 million at the Mindanao International Container Terminal in Villanueva town, Misamis Oriental Wednesday (27 July 2016). The renewed campaign against smuggling came after new Customs Chief Nicanor Faeldon threatened to shoot corrupt BOC employees. mindanews photo by froilan gallardo

Benzes, Porsche among smuggled items seized by Customs in MisOr By FROILAN GALLARDO, MindaNews

VILLANUEVA, Misamis Oriental -- Bureau of Customs officials on Wednesday

seized five container vans with highly taxable goods that include two Mercedes

S & R C a g ay a n d e O r o has already surpassed its membership quota even it formally opened to the public yesterday, an executive of Kareila Management Corporation announced Tuesday. Kareila, a wholly owned subsidiar y of Puregold, operates S&R membership shopping warehouses all over the country. Although S&R vice president for operations Greg Kreyer refused to disclose official figures yet he admitted they have reached their preset membership goal. “We’re excited because we’ve reached our quota for northern Mindanao area,” Kreyer told media

practitioners during a news conference and sne a kpeek tour of the store in a 2.4778-hectare area along Kauswagan highway. Kreyer admitted the 700peso annual membership could fluctuate, when pressed for actual figures. An insider, who requested his name be withheld, said the total membership enrolment could have already reached exceeds/PAGE 7

Benzes and the legendary Porsche 911 car, used clothing and meat, all valued at P11 million. seized/PAGE 7

SoKor investor eyes PPP for Davao project By ANTONIO L. COLINA IV, MindaNews

DAVAO City – A South Korean investor is set to meet with City Mayor Sara Duterte for the proposed Davao Riverside Boulevard

project that will be enrolled under the Public-PrivatePartnership (PPP). This was revealed by Engr. Jose Froilan T. Rigor,

planning officer 4 at the City Planning Development Office (CPDO) in an interview at the sidelines of the “Forum on Urban Development” at the Ateneo de Davao University project/PAGE 7

TRAFFIC ENFORCER. A traffic enforcer in Cagayan de Oro City bravely manned the busy intersections along Claro M. Recto Avenue in Cagayan de Oro City without any safety gears, saved by his RTA-marked shirt. photo by gerry lee gorit

Market Indicators As of 6:10 pm july 28, 2016 (thursday)

FOREX US$1 = P47.085

7.1

PHISIX

X Briefly

cents

X

8,024.98

75.50 points

Locally-made train DAVAO City -- Trains and articulated wheeled coaches developed by the Department of Science and Technology can be viable means of transportation particularly for Philippine cities. According to Engineer Rodnel Tamayo chief of the Metal Industry Research and Development Center, Department of Science and Technology, they have developed three transit system; the Automated Guideway Transit System, Hybrid Electric Road Train and DOST designed and fabricated hybrid train sets. The AGT is an electric train, a fully automated-driverless transit system, while the hybrid road train are articulated wheeled coaches powered by electricity. The Hybrid Train Sets meanwhile was developed jointly by the Philippine National Railways; it is cheaper than imported train sets. Tamayo said that in 2014, officials of the City Government of Davao tested the prototype unit in Bicutan. He said he has not heard from the group since. Davao City has been eyeing a mass transit system to fix a growing traffic problem.

Mining firms warned ENVIRONMENT Secretary Gina Lopez has assured the Lumad or indigenous peoples of Mindanao that mining operations in the region found in violation of mining and environmental laws and regulations would be suspended. This, even as Lopez urged them to submit their proposed development plan for areas which have been affected by destructive mining activities. “Sususpindihin natin ang mga mining company na lumalabag sa batas,” Lopez told Lumad representatives during their dialogue held at the Polytechnic University of the Philippines (PUP) in Manila last Sunday.

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