BusinessWeek M I N DA N A O CREDIBLE
Volume XII, No. 159
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Briefly Economic reforms THE incoming government should continue to build on the Duterte administration’s legacy by instituting reforms that would tap the full potential of a competitive business environment to encourage more investments, create more jobs and sustain the country’s economic recovery, the Philippine Chamber of Commerce and Industry (PCCI) said. To solidify and further str e ngt hen t h e c o u n t ry ’ s economic gains amid the challenges of current geopolitical situation, the Legislative Committee of PCCI has set out the priority legislative agenda for the 19th Congress, in consultation with PCCI’s sectoral committees and partners from the Philippine Exporters Confederation (Philexport) and the Employers Confederation of the Philippines (ECOP).
Fuel subsidy BUTUAN City – At least 351 corn farmers and fisherfolk from this city and three towns of Agusan del Sur benefited from the fuel subsidy program launched by the regional agriculture office here Tuesday. In a statement, the Department of Agriculture in the Caraga Region (DA-13) said that apart from farmer-beneficiaries in this city, fuel discount cards were also distributed to the municipalities of Nasipit, Carmen, and Buenavista in Agusan del Norte. The program intends to aid the corn farmers and fisherfolk who own and operate agricultural and fishing machinery to cope with the rising fuel prices in the international market.
Lower rice yield BUTUAN City – The Philippine Statistics Authority in the Caraga Region (PSA-13) reported a decrease in palay production in the region to at least 7 percent in 2021 compared to the previous year. Based on the Palay Production Survey (PPS), the PSA-13 said the region’s palay harvest last year was recorded at 467,744 metric tons compared to the 503,331 metric tons of harvest in 2 0 2 0 . “ T h e d e c r e a s e o f production was attributed to the diminution of area harvested to 5.25 percent,” it said.
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P756-M cassava plant a boost to Misor farmers T
HE Board of Investments (BOI) reported Monday that Daesang Philippines, Inc. is investing P756.24 million in a project that will benefit local cassava farmers.
SOUVENIR. Davao City Hall employees in Davao City pose for a souvenir photo on Monday morning, June 20, with outgoing mayor Sara Duterte who took her oath as the country’s 15th Vice President last Sunday. Monday’s flag-raising was the first fac-to-face after two years of the COVID-19 pandemic, and also Sara’s last as mayor. By June 30, she will assume the post of Vice President and Education Secretary. photo courtesy of skippy lumawag
CDO detects 1st case of Omicron subvariant BA.5 CAGAYAN de Oro City Health authorities here conf irmed Tuesday the first case of the coronavirus disease 2019 (Covid-19) Omicron subvariant BA.5 in the city. In an online press briefing, Dr. Teodoro Yu Jr., the City Health Office (CHO) medical officer, said the infected individual is a 38-year-old male seafarer from Barangay Bugo, who had traveled to
Daesang is putting up a tapioca starch manufacturing facility in Tagoloan, Misamis Oriental, which will start its operation by January 2023. It will hire some 492 workers. The facility is expected to produce 33,000 tons of tapioca starch and 4,446 tons of tapioca residue annually. “Daesang’s project will increase the cassava starch production capacity of the Philippines by 9 percent from 370,000 metric tons to 403,000 metric tons,” the BOI said. Tapioca is an extract from cassava roots. Tapioca starch and modified starch are used as raw materials for the food and beverage industry. This is also an emerging material for different industrial applications like polylactic acid commonly used for PLANT/PAGE 15
Egypt and Manila. CHO personnel immediately started contract tracing after they received the report on June 17, Yu said. Dr. Ellenieta Gamolo, the Department of HealthNorthern Mindanao (DOH10) assistant director, said the case is also the first Omicron subvariant BA.5 detected in the region. According to the CHO OMICRON/PAGE 15
COPRA PRODUCTION. Farmers remove husks from coconuts before scraping the meat for copra production in the hinterland Barangay Kabacsanan in Iligan City. mindanews photo by bobby timonera
P18.67-B Davao-Samal bridge project set to start By ANTONIO L. COLINA IV, MindaNews
D AVA O C i t y – T h e Department of Public Works and Highways (DPWH) is set to break ground for the long-awaited Davao CitySamal Island Bridge project next month after the loan agreement worth $350 million or P18.67 billion between the Philippines and China
was approved last June 13. In a message sent via Viber, Public Works and Highways Undersecretary Emil K. Sadain said the government has already scheduled the groundbreaking of the 3.98-kilometer project sometime in July. The entire project will
cost P19.321-billion, mostly financed by the Chinese loan. Sadain said the construction will start this year. He added the design and build contract has a duration of 60 months. On January 14, 2021, the DPWH and China Road and Bridge Corporation signed BRIDGE/PAGE 15
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