BusinessWeek MINDANAO CREDIBLE
Volume VII, No. 147
Market Indicators As of 5:00 pm May 5, 2017 (friday)
FOREX
PHISIX
US$1 = P49.905
7,841.99
2.2
X X Briefly
cents
86.2
points
Davao grows 9.4% DAVAO City -- The economy of Davao Region grew at 9.4%, higher than the national growth average of 6.9%. The growth as measured by the GRDP (Gross Regional Domestic Product) saw the performance of the regional economy buoyed by the industry sector that posted a growth of 16.5%. Electricity, Gas, Water Supply (EGWS) grew by 44.5% while industry hiked at 12.2%. The service sector grew by about 7.5% as it accounted for the biggest share of the region’s economic performance at 51.1% followed by the industry sector at 36.7% and the Agriculture, Hunting, Forestry, Fishing (AHFF) at 12.2%.
YOUR Mindanao-wide BUSINESS paper
RELIABLE
IN-DEPTH
Normin’s economy up by 7.6 percent in 2016 www.businessweekmindanao.com
By CRIS DIAZ, Contributing Editor
N
ORTHERN Mindanao’s economy grew by 7.6 percent in 2016, up 1.9 percentage points from the 5.7 percent posted in 2015, the Philippine Statistic Authority-10 (PSA-10) said.
Dutertenomics DAVAO City -- The administration’s economic plan dubbed as Dutertenomics can help push Davao Region’s GRDP (Gross Regional Development Product) growth further. National Economic Development Authority-XI (NEDAXI) regional director Maria Lourdes Lim said that Dutertenomics whose plan is to allocate about 7% of the country’s Gross Domestic Product to build more infrastructure is expected to help the region breach its 2017 GRDP growth target of 8.6%-9.6%. Lim said that indentified bigticket infra projects include the Davao Bypass Road, the Davao City Coastal Road and the Davao Food Terminal. These billion-peso projects would spur more growth.
Drug rehab facility THE construction of a P20 million drug rehabilitation facility in Sitio Maitum, Barangay Puerto in Cagayan de Oro would help the city government achieve its goal of a drug-free Cagayan de Oro, a local lawmaker said Friday. Council Romeo Calizo, chair of the police, fire, and public safety committee, said the expansion project at the Treatment and Rehabilitation Center (TRC) will be the answer to the problem of lack of recovery facility for drug users not just in the city but in the region. The present 100-bed TRC in Puerto, which is being managed by the Department of Health (DOH-10), sits on a 10-hectare lot owned by the local government unit, and is serving about 114 patients.
P15.00
Monday | May 8, 2017
MADRASAH GRADUATION. A madrasah student waits for the graduation rites to begin during the 8th Madrasah Centralized Graduation in SM Ecoland, Davao City. The city government of Davao, thru the Madrasah Comprehensive Development and Promotion Program, supports the madaris in its three districts for its Muslim youth population to not only learn Arabic but also to strengthen their Islamic values education. mindanews photo by manman dejeto
PSA-10 Regional Director Eddie Nasol disclosed the figure during a forum with business groups and stakeholders at the Limketkai Commercial Center here Thursday. He said the region posted consistent growth in the industry and service sectors in the last six years. The industry sector posted a 10.3 percent increase in 2016 as against the 4.8 percent growth in 2015. The industry sector is composed of the mining and quarrying industry and the construction and the manufacturing industry, while services involved education, transport, banking and the trading sectors. Leon M. Dacanay, Jr., National Economic and Development Authority-10 director, cited several factors that contributed to the growth economy/PAGE 11
Dairy farmers tackle issues that derail industry growth By MARK FRANCISCO, Staff Writer
AROUND 500 participants of the re cent ly-conclude d 20th National Dairy Congress helped craft the country’s position paper aimed to boost the local dairy industry before the Asean Dairy Network and the Global Dairy Trust.
The annual congress, which was held this year at the Mambajao C onvention C enter i n C am i g u i n f rom May 3 to 5, converged dairy farmers from 52 provinces, reported Debbie San Miguel, information officer of the National Dairy
Authority 10. As of presstime, the details embodied in the position paper has not yet been known but dairy farmers are more concerned that Filipinos patronize more processed milk from other countries rather than their own. Besides, dairy farms dairy/PAGE 11
SUMMER DIP. Unable to withstand the summer heat, these Badjao girls take a dip at a road excavation with a busted water pipe in downtown Iligan City. mindanews photo by bobby timonera
29-man team from China visits Lapanday loses P2-b Davao to explore opportunities due to NPA attacks By ANTONIO L. COLINA IV, MindaNews
By ANTONIO L. COLINA IV, MindaNews
DAVAO City -- A 29-man team from various stateowned Chinese corporations explored what possible infrastructure projects they
can fund during their twoday exploratory mission in the city. Na t i o n a l E c o n o m i c Development Authority
(NEDA) 11 Director Maria Lourdes Lim said the mission, which was headed by the China’s Ministr y of Commerce, concluded Friday. explore/PAGE 11
DAVAO City -- The Lorenzoowned Lapanday Foods Corp. (LFC) lost P2 billion due to the April 29 attacks launched by the New People’s Army (NPA) against its three businesses – two plants and
a farm – in the city. Na t i o n a l E c o n o m i c Development Authority (NEDA)-D avao R eg ion director Maria Lourdes Lim told reporters Thursday loses/PAGE 11
Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776