Mindanao Daily Davao (January 7, 2014)

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Mindanao Daily NEWS

Volume II, No. 165

web portal: www.businessweekmindanao.com

Tuesday

January 7, 2014

P15.00

northmin . westmin . caraga . davao Your Regional Mindanao-wide Community Newspaper

PHL economy seen FDC coal project in Misor an growing 6.5% in 2014 economic, social boon: solon THE Philippine economy is projected to sustain a robust growth of 6.5 percent this year, slightly lower than the 2013 growth estimate of 6.75 percent, on the back of buoyant infrastructure investments and stronger consumption, according to a large finance firm. “The administration’s main thrust is infrastructure spending which is seen to be the catalyst for the development of other industries such as manufacturing and tourism,” said Jonathan Ravelas, chief market strategist of Banco de Oro Unibank.

First part

By RUEL V. PELONE Managing Editor

CAGAYAN de Oro City–– First district and neophyte Rep. Juliette Uy of Misamis Oriental considered the construction of the threephase 405-megawatts (MW)

coal-fired power plant by the FDC Misamis Power Corporation (FDC-Misamis) in the town of Villanueva as an “economic and social boon” for Northern Mindanao. Uy said the P30-billion investment of the FDCMisamis, a subsidiary of FDC Utilities, Inc. (FDCUI), a wholly-owned subsidiary

of the Filinvest Development Corporation (FDC), will not only help arrest the shortage of power that is hounding Mindanao for a period of time but would also help generate jobs––and increase local and national revenues. The neophyte

Environment office appeals for proper waste disposal See economy, page 11

See solon, page 11

D

AVAO City–– The chief of the City Environment and Natural Resources Office appealed to the public to dispose their garbage properly, following the observation that the garbage disposed by residents is no longer segregated during the holidays.

ARMM expects over P1-b investment in 2014

By Danilo E. Doguiles of PIA

See FULL STORY, page 9

School execs told to monitor measles

GENERAL Santos City–– The Department of Education (DepEd) in Region 12 directed local school personnel to monitor possible cases of measles among students and pupils as regular classes officially resumed on Monday. Dr. Allan Farnazo, acting DepEd-12 director, said the region-wide monitoring See measles, page 11

UY

Newly elected ABC-Misamis Oriental Mario Emano (center) attended the first session of the Misamis Oriental Sangguniang Panlalawigan, Monday, January 6, 2014, held at N-Hotel, but failed to be recognized as ex-officio member of the Board due to lack of confirmation from the National Liga ng mga Barangay. Mindanao Daily News photo by Cheng Ordonez

What’s Inside Villar wants loan

MAP-CDO bares set of officers ...Page 3 n Business and politics to shape CDO in 2014 ...Page 7 n

assistance for OFWs

TO defray the family of living expenses during the first three months of his/her absence, Senator Cynthia A. Villar pushes for providing an overseas contract worker with a valid employment contract a P50,000 loan from the Overseas Worker and Welfare Administration (OWWA). Senate Resolution No. 507, entitled “An Act Establishing A Credit Assistance Program for Overseas Workers,” also provides that any member of the family of an Overseas Filipino Worker (OFW), not disqualified by law, can be a co-borrower

of the loan and can execute necessary documentation related it. Villar said the OFW making the loan must be certified by the Philippine Overseas Employment Administration to qualify to loan application. She said the loan will also help an OFW in his recruitment expenses, including placement fees, documentation costs and plane tickets. “It is but fitting to extend our OFWs all the assistance that the government can give, including an exclusive credit assistance pro-

VILLAR

gram as proposed under this measure,” said Villar who stressed that OFWs have time and again been referred to and honoured as our “modern day heroes.” See LOAN, page 11

COTABATO City––Autonomous Region in Muslim Mindanao’s Regional Board of Investments (RBOI) believes 2014 will bring more investments to the region. ARMM RBOI chief Ishak Mastura said they are expecting a repeat of the 2013 achievement and expect investors to pour in over P1 billion investment. In 2013, ARMM reached a record investment of P1.463 B from four firms registered with RBOI. The amount was 157 percent higher than the P569-M that investors poured in 2012. In a statement sent to Philippine Information Agency 12, Mastura said he foresees at least eight or more firms registering with RBOI this year to avail of fiscal and non-fiscal incentives for their investments. Although, this rate of registration of firms with RBOI is still very far from what the BOI in Manila experiences in any given year, he emphasized, for ARMM it is already a veritable rush of registration of investments by the firms in the region. See expects, page 11

Editorial: e-mail: mindanaodailynews@gmail.com • 72-33-44, 856-3344 • Advertising: e-mail: mindanaodaily.ads@gmail.com Contact cell nos.: 0917-7121424, 0947-8935776


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