BusinessWeek Mindanao (October 23, 2020)

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BusinessWeek M I N DA N A O CREDIBLE

Volume XI, No. 60

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Philippine Press Institute Civic Journalism Community Press awardee for the following: 2013 Best in Business and Economic Reporting 2014 Best in Environmental Reporting 2017 Best in Business and Economic Reporting 2018 Best in Business and Economic Reporting

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Friday|October 23, 2020

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Chinese investors bullish X X over Misor’s steel plant Briefly T Thank you for trusting us!

Market Indicators

AS OF 6:00 PM OCT. 22, 2020 (THURSDAY)

FOREX

PHISIX

US$1 = P 48.600

6, 344.63

1.50

66.04

cents

points

Hotel reopening

HOTELS in areas under general community quarantine and modified GCQ may soon open at full operational capacity, the Department of Tourism (DOT) announced Wednesday. This, after the DOT was given the authority by the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF-EID) to determine the allowable operational capacity of up to 100 percent for hotels, including those catering for staycationers. "The decision to open at 100-percent operational capacity will be subject to the hotel management’s decision and compliance with the safety guidelines,” Tourism chief Bernadette Romulo-Puyat said.

By MARK FRANCISCO, Reporter

AGOLOAN, Misamis Oriental— Officials of Chinese firm Philippine Sanjia Steel Corporation paid a visit to the newly-appointed Administrator and Chief Executive Office of PHIVIDECIndustrial Authority Jose Gabriel “Pompee” La Viña last October 20, 2020.

In 2 0 1 8 , P h i l ippi n e Sanjia Steel Corporation put up an P800 million steel manufacturing plant in Tagoloan. “We choose to establish the steel plant in Tagoloan because of its strategic location. Transporation is ver y convenient and accessible because it is near the port. We can build our own wharf so that the

transport of materials will be easier,” said Philippine Sanjia Steel Corporation manager Zhang Dangjian. The company is engaged in production of steel products such as construction steels. They are targetting domestic market for their products. “PHIVIDEC-IA will assist the company so that they can start with their operation as STEEL/PAGE 7

TAMBAN. Fishermen take out freshly caught sardines (“tamban” in the vernacular) from fishnets in Del Carmen town in Siargao Island. The tamban sells for 70 pesos a kilo. mindanews photo by roel n. catoto

Durian export DAVAO City — Durian growers in the Davao Region, including small-scale farmers, are ready for Good Agricultural Practice (GAP) certification that will be required by China for exports. Emmanuel S. Belviz, president of the Davao City Durian Industry Council (DCDIC), said they were ready as early as April when representatives from the China Inspection and Quarantine were scheduled to visit. “Before the COVID-19 (coronavirus disease 2019) pandemic, nagkaroon kami ng (we held) training with some durian farmers and members of the durian council on the importance of making their farms GAP-certified,” Mr. Belviz said in an interview last week.

Davao’s tourism posts P1B loses during Kadayawan By ANTONIO L. COLINA IV, MindaNews

DAVAO City – Revenue losses of tourism-related businesses in Davao City were estimated at P1 billion just for the entire month of August as the local government cancelled all physical

activities during the month-long Kadayawan Festival and restricted tourists from coming here to avoid mass gathering. LOSES/PAGE 7

JTIP warns of more cigarette smuggling via backdoor during holiday season COMMUNAL FARM. An elderly member of the Consuelo Agri Farm Association in Brgy. Consuelo, General Luna, Siargao Island picks shoots of alugbati at their communal farm. The farm is one of the 35 communal gardens in Siargao Island under Hardin Ng Pagbabago, a community driven initiative. mindanews photo by roel n. catoto

JAPAN Tobacco International (JTI) has appealed to law enforcement agencies to intensify its anti-smuggling efforts in the country’s regions, particularly in Visayas and Mindanao, as more contraband cigarettes are expected to enter the country’s backdoor during the yuletide season.

JTI Philippines (JTIP) General Manager John Freda said key areas in Mindanao and Visayas have been traditional backdoor channels for illegal cigarettes and a series of seizures in the ports of Visayas and Mindanao over the past weeks are indicative that WARNS/PAGE 7

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