BusinessMirror 19, 2015 by BusinessMirror

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Life

ALL ACCESS: ‘PrInCeSS In The PAlACe’ mAkeS ITS mArk

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Monday, October 19, 2015 D1

A dozen years of dazzling women

2015 Best Dressed Style Icon businesswoman and cancer survivor Grace Ong Gobing in Amir Sali

THE Catalog Shopper cofounder Joy WambangcoRustia in Randy Ortiz

Twitter: @misscharlize

N 2004 the Best Dressed Women of the Philippines (BDWP) awardees were Maricris Cardenas Zobel (in Christian Dior top and Rajo Laurel skirt), Carol Masibay (in Pepito Albert), Chuchu Madrigal (in Vera Wang), Julie Manning (in Inno Sotto), Rosemarie Arenas (in an unnamed London designer), Gul Tanghe (in Jeannie Goulbourn), Amparito Lhuillier (in Monique Lhuillier, naturally), Criselda Lontok (in Nolie Hans), Therese Coronel Santos (in Joe Salazar), Vicky

BUSINESSWOMAN and MTG Educational Program founder Maika T. Garcia in Frederick Peralta

Zubiri (in Christian Lacroix) and Gina Lopez (in Jennie Goulbourn). The Style Icon awardees were society swans Chito Madrigal Collantes and Imelda Ongsiako Cojuangco. These accomplished women’s impressive personal style (and awesome wardrobe) set the standard for anyone who aspires to be one of them. In the ensuing years, some exemplary Filipino women have joined their ranks. Cristina Ponce Enrile and Gretchen Oppen Cojuangco were the 2005 Style Icons, with Susan Reyes (in Pepito Albert), Menchu Menchaca Soriano (in Alberta Ferretti) and Nikki Prieto Teodoro (in Saint John Couture) among the best dressed awardees. Margie Moran Floirendo (in Katrina Goulbourn) was feted in 2006; Mariquita Yeung, Dawn Zulueta Lagdameo and Gov. Gwendolyn Garcia (all in Cary Santiago) in 2007; Frannie Aguinaldo Jacinto (in Ito Curata) in 2008; Agnes Huibonhua (in Paul Cabral) in 2009; Happy Ongpauco-Tiu (in Patrice Ramos Diaz) in 2010; Cris Albert (in Auggie Cordero) in 2011; Tootsy Echauz-Angara (in Dennis Lustico) with Ching Cruz as Style Icon in 2012; Charisse Marie Abalos (in Jojie Aguilar) in 2013; and

BLOOMWOODS Flowershop owner Mia Cabawatan-Lozada in Jojie Lloren

Pauline Laverne Lim (in Larry Espinosa) in 2014. The BDWP is a fundraising effort for the Philippine Cancer Society (PCS), with a glittering annual awards ball at the Makati Shangri-La Hotel. “Because of BDWP, we are now able to embark on a new project to provide a PCS Mobile Clinic [donated by Victory Liner] that can go to low-resource communities and screen for breast and cervical cancers, which are the two most common cancers in Filipino women. This endeavor is the first of its kind in the country,” an appreciative Dr. Roberto M. Paterno, PCS chairman of the board, said in the souvenir program. “This year’s women of substance were chosen out of the same mold: beauty, style and kind hearts,” event chairman Angola Consul Helen Ong says. “These women are leading lives worthy of merit on the personal, professional and civic front.” The 2015 Style Icons are businesswoman and cancer survivor Grace Ong Gobing in Amir Sali and The Catalog Shopper cofounder Joy Wambangco-Rustia in Randy Ortiz (lemon silk tulle gown embellished with dove-gray floral embroidery cascading from the bodice down the

SAINT Luke’s Medical Center’s top obstetriciangynecologist Dr. Elsie Badillo-Pascua in Eddie Baddeo

skirt, plus electro-pleated underlay in canary to create a two-tone effect), while the Best Dressed awardees are businesswoman and certified public accountant Eni Alba in Roulette Esmilla; Procter & Gamble Financial Shared Services Division Quality Management Head Natalie Diane Lim-Ang in Amir Sali; Rex Bookstore Director Danda Crimelda I. Buhain-Garcia in Avel Bacudio (emerald green off-shoulder bias Thai silk dress with yellow neoprene Thai chiffon long back with Swarovski beads); businesswoman and MTG Educational Program founder Maika T. Garcia in Frederick Peralta; Reimagine Global Health Fellowship founding fellow Jarelle Palabay Gonzales in Francis Libiran, Bloomwoods Flowershop owner (and pregnant) Mia Cabawatan-Lozada in Jojie Lloren (empire-cut lemon and champagne silk mikado gown with origami sculptural detail at the back) currency trader and licensed stockbroker Anna Moncupa in Mark Bumgarner; fashion accessory designer and advocate of Filipino craftsmanship Ann Ong in John Paras, Saint Luke’s Medical Center’s top obstetrician-gynecologist Dr. Elsie Badillo-Pascua in Eddie Baddeo (Grecian-inspired canary-yellow gown with heavy

NEUROLOGIST Dr. Hazel Paragua-Zuellig in Jun Escario

one-sided metallic copper-gold appliques in Swarovski); businesswoman Anna Sia in Ito Curata (black velvet, mermaid silhouette long gown accentuated with fan-like, over-sized ruffle, which wraps to the back to form a train, with mango gold hand-beaded, scalloped edge corded lace applique completing the ensemble); Vigan Plaza Hotel General Manager and socio-civic leader Patch SavellanoSingson in Andrea Tetangco, and renowned neurologist Dr. Hazel Paragua-Zuellig in Jun Escario (deep V neckline and 1950s silhouette fitted skirt with semi-bias ball skirt at the back, plus crystallized belt for a little shine). “The Best Dressed Women of the Philippines has always exceeded all the expectations that we have set in the previous years. It has made itself the best and most efficient fundraising activity of PCS,” says honorary Chairman Imelda Ongsiako Cojuangco. “The women chosen by the selection and organizing committee for [our 12th year] are those who exemplify the qualities of a true lady—driven, humble and kind-hearted.” Here’s hoping that any of these women will eventually make it to Vanity Fair Fair’s International Best-Dressed List.

Because your skin needs to look good B B K Seoul correspondent

NYBODY around these parts who has seen a Koreanovela, or, better yet, has flown to Korean Peninsula to indulge in its beauty and culture, will invariably come away with the conclusion that Korean women have fabulous skin—and, yes, they are serious about keeping it that way. A new ally of Korean women in their pursuit is SkinIsGood.com, an online portal of everything a woman needs to keep her skin in fabulous shape. The company is the distributor of such acclaimed beauty brands

as Mary Cohr, Caviar, Decleor, and Sothys, and women can shop to their heart’s delight at the online shop and have their beauty goodies shipped pronto. SkinIsGood hosted its launch soiree at a hip venue in Seoul in late September, and the occasion also marked the announcement of the inclusion to its roster of beauty aids the popular all-natural beauty brand La Muse, which takes great pride in clinically proven products that will have your friends asking how you always look so amazing. To know more about SkinIsGood and the skin wonders it offers, visit en.skinisgood.com.

JAZZ artist Danny Jung

LEE KWANG GEOL (from left), Doosan Magazine director; Son Youn-ju, BEworks COO; Britney Kang; Jenny Kim, SkinIsGood president; Veronica Sae Hee, SkinisGood director; and Albert Bae, EWA Entertainment COO

LIFE

GEOL with Kang and RA Beauty Core President Hyun Tae

DRINKING IN AMERICA Perspective BusinessMirror

E4 Monday, October 19, 2015

“Some in the business community share the position of [Director General of the Philippine Economic Zone Authority] Lilia B. de Lima that if it [RFI bill] affects, in any way, our competitiveness, ’wag na lang [we should not push through with it]. It has to improve our competitiveness, and not the other way around,” Makati Business Club (MBC) Executive Director Peter Angelo V. Perfecto said.

B L I | The Associated Press

enough into American history and booze, she said. “What about the fact that 100 years before Prohibition we were the drunkest country in the world, and what about the fact that in the 19th century, writers didn’t drink,” Cheever said. Her book is filled with detailed anecdotes and quirky, alcoholfueled moments through time. Cheever offers these observations among her favorite bits:

PAUL REVERE & THE AMERICAN REVOLUTION Some nations drink more and some less, but nowhere do those two things collide and replay on a loop through history quite like they have in the United States, said Susan Cheever, who’s written Drinking in America: Our Secret History. Cheever was addicted to alcohol, as was her father, author John Cheever. She’s visited the subject of drinking in the past, and she’s been in love with history since a college professor inspired her. But this project, published in October by Twelve Books, was “really a eureka moment,” she said in a recent interview. Nobody has really gone deep

RACELAND Louisiana beer drinkers

pened on Lexington Green, where Paul Revere stopped for a couple of shots,” she said. “He got there so much faster than the British. He got to Lexington at midnight, saying ‘The British are coming, the British are coming,’ and the militia turns out, and the British aren’t anywhere near. So they all go to Buckman Tavern and drink for three hours, then the British finally get there and what ensues was 70 relatively or very drunk militiamen,” Cheever said.

THE RUM

THINK evening, April 18, 1775: “I’ve been to Concord, Massachusetts, many times. I really thought that the first shots of the war were fired at the Old North Bridge, so I was really shocked and interested to read about what hap-

SURE, there was the Boston Tea Party, but rum ruled the colonies: “The British were trying to tax alcohol, so no taxation without representation wasn’t great on tea but it really wasn’t good on rum. In some ways, the American Revolution was about rum. It’s as if they fought the American Revolution not for the right to vote, but for the right to drink,” Cheever said. Rum was definitely the drink of the colonies, and “no one stood for rum consumption the way Ethan Allen did.” Stories abound, the most famous of which has the leader of the

Green Mountain Boys so soaked with rum that he was unaware a snake had bitten him multiple times after he fell asleep in a glen. When he awoke, he complained of the mosquitoes.

ABRAHAM LINCOLN

HE abstained, likely due to harddrinking relatives: “I thought I knew all about Abraham Lincoln. I did not know that he was one of those rare human beings, and I mean rare, who didn’t drink and didn’t judge. His mother asked him on her death bed not to drink and he took that very seriously,” Cheever said. “But he fired George McClellan, who was his sober general in the Union Army, and hired Ulysses S. Grant, who had already been courtmartialed once for drinking. When the generals came and complained to Lincoln that Grant was drinking too much, Lincoln famously said bring me some barrels of what he’s drinking so I can give it to all my generals. He wasn’t a temperance guy.”

Prohibition and women’s temperance were wrapped around each other. Many of the women’s suffrage crusaders, Elizabeth Cady Stanton and Susan B. Anthony, had started out as temperance crusaders,” Cheever said. “And it was thought that Prohibition would be great for women because drinking was a male problem. Men were drinking and they didn’t bring the money home to the women and children,” she said. “The income tax was instituted at the same time. Before then, thanks to Alexander Hamilton, almost the entire federal budget was based on liquor taxes, so they couldn’t have had Prohibition. It couldn’t happen until they had an income tax.”

WRITING & DRINKING

BOOZE and the muse: “For me the biggest revelation of the book was the link between writing and drinking. It’s so limited chronologically. It’s not true until about 1925. In the 19th century, writers didn’t drink. Hawthorne, Melville, Thoreau, Emerson, Longfellow. Nope. No drinkers. It’s not about the writers. It’s about the drinking culture,” Cheever said. “Of course, some writers drink a lot, so much so that the five people who won the Nobel Prize for literature were all alcoholics, but only for two generations. I hadn’t really done the math, and then it occurred to me that, of course, it came out of Prohibition, that Prohibition made drinking that much more attractive to writers,” she said. A year-by-year analysis shows that although many famous American writers drank too much, they did that only in the years after Prohibition and World War II.

PERSPECTIVE

PROHIBITION

DRINKING, suffrage and taxes: “I didn’t know the way that

B M G P

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VIDA Land Corp., the mid-income market brand of property developer Ayala Land Inc., said it will build more house-and-lot units in properties outside Metro Manila as part of its strategy to focus more on horizontal developments. Maria Teresa Tatco, Avida marketing head, said the company wants to increase its horizontal developments across the country in the coming years, as it tries to put its mix of vertical and horizontal developments at 50-50. Currently, 80 percent of Avida’s developments are still focused on high-rise buildings and condominiums, with the rest being subdivisions and villages whose buyers C  A are mostly end-users.

POPULATION GROWTH THREATENS PHL RICE SELF-SUFFICIENCY GOAL

RICHARD NIXON

MARTINIS and rage: “I knew Nixon was a crook, but I didn’t realize how much drinking had to do with it because he never drank that much and he didn’t stagger around, but alcohol certainly impaired him,” Cheever said. Nixon was a “tightly wound Quaker with a longing for power,” she wrote. One night in 1960, “he even got drunk and seriously told his Catholic staffers what a great Pope he could be and how well he could run the Vatican.” Nixon didn’t drink at all until he was an adult, yet you can see that he was drunk or passed out at many, many important moments, Cheever said. One of those moments was on August 29, 1969, when two members of the Popular Front for the Liberation of Palestine hijacked TWA Flight 840, forcing the pilot to divert the Tel Aviv-bound airliner to the airport in Damascus, Syria. Nixon’s national security adviser, Henry Kissinger, reached the president by phone after dark, when Nixon had partaken of a drink or two and was in one of his common rages. He exploded into the phone: “Bomb the airport!” and sent Kissinger and Defense Secretary Melvin Laird into a scramble on how to avoid the direct order without seeming to, she said. Finally, Laird told the president weather conditions made bombing impractical, thereby avoiding action that might well have led to larger disaster.

B VG C

SPECIAL REPORT

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PRINCIPLES of the Prohibition Party campaign poster (1888).

HORIZONTAL PROJECTS NEW FOCUS OF AVIDA

C  A

DRINKING IN AMERICA

EW YORK—Drinking, and not drinking, is as old as America itself, from the beer-loving pilgrims on the Mayflower and Paul Revere’s boozy horse ride to Prohibition and the rise of Alcoholics Anonymous.

P.  |     | 7 DAYS A WEEK

MBC hoping RFI bill will stay dead in16th Congress USINESSMEN are hoping that the “already dead” Rationalization of Fiscal Incentives (RFI) bill would no longer be rescuscitated at the homestretch of the 16th Congress, noting that maintaining the country’s incentives regime would be better than rushing a potentially disruptive measure.

DAZZLING WOMEN EAR Lord, we could spot from a crowd, people who show cheerfulness. Aren’t they the force that inspire any group to do their task willingly and comfortably relaxed in finishing the work given them? Cheerful people don’t complain. They are too busy to give negative feedback. “Show cheerfulness on your countenance rather than sadness on any other ill-regulated emotion.” A line from Saint John Baptist de la Salle Collection of Various Treatises and Virtues. I should know because I served his school for 46 years as a Lasallian educator. May we, Lord, develop cheerfulness in all the things we do, think and say. Amen!

Thursday 2014 Vol. No. 40 Vol. 11 No. 11 Monday,18, October 19,102015

n n

INSIDE

Show cheerfulness

A broader look at today’s business

First of three parts

HE current El Niño episode may have been the single biggest factor behind the decision of the government to import more rice for this year and 2016. In the next five years, however, experts warned that the increase in the country’s population would make it more difficult for the Philippines to avoid the international rice market. The drought caused by El Niño has forced the Philippines to front-load its importation of 500,000 metric tons (MT) of rice for next year. The National Economic and Development Authority (Neda) said the government is looking to buy an additional 1 million metric C  A

PESO EXCHANGE RATES n US 45.7960

n JAPAN 0.3852 n UK 70.9380 n HK 5.9092 n CHINA 7.2165 n SINGAPORE 33.2192 n AUSTRALIA 33.5330 n EU 52.1204 n SAUDI ARABIA 12.2155

Source: BSP (16 October 2015)

A2 Monday, October 19, 2015

BMReports BusinessMirror

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Population growth threatens Phl rice self-sufficiency goal Continued from A1

tons (MMT) of imported rice for 2016. Neda, chair of the interagency Food Security Committee on Rice, said the government is stockpiling rice as the dry spell could cut rice output for the years 2015 and 2016 by 25 percent. Economic Planning Secretary Arsenio M. Balisacan said this is on a par with the damage caused by El Niño in the years 1997 and 1998. While the National Food Authority (NFA) Council has yet to approve the purchase of the additional 1 MMT of imported rice, experts said the Philippines may have done the right thing in purchasing rice from abroad this year. Samarendu Mohanty, head of the International Rice Research Institute’s (Irri) Social Sciences Division, said the price of rice in the international market currently remains stable. But Mohanty warned that prices could go up next year as El Niño ravages other riceproducing countries in Asia. Mohanty noted that some areas of India are experiencing drought and El Niño’s damage on rice crops will not be known until the end of the month. Meanwhile, planting season in Indonesia will also start by the end of October. “The price of rice could rebound by 15 [percent] to 20 percent in the next three months if rice crops in India and Indonesia are affected by El Niño. The two countries are not the most affected by El Niño but they could decide the price,” he said in an interview at the sidelines of the Asean

Rice Future Forum held in Vietnam from October 14 to 16. “There is [also] concern that the stock level of five exporters have gone down significantly much lower than what it was three years ago. This might influence market direction and cause prices to go up. This could happen next year,” Mohanty added.

More Filipinos in 5 years

The current El Niño has made paddy rice production more challenging in the Philippines. Lower water levels in the country’s big dams have discouraged farmers from planting rice. This is because producing one of kilogram of palay requires some 1,500 liters of water. Apart from the vagaries of weather, the expansion of the country’s population to 112 million in 2020 could make it more difficult for the Philippines to wean itself away from rice imports. Dr. Suthad Setboonsarng, member of Irri’s Board of Trustees, said in his presentation before the Asean Rice Future Forum, that the 10.6-million increase in the country’s population in five years could force the Philippines to import more rice. According to data from the Philippine Statistics Authority, each Filipino consumes about 114 kg of rice. This means that the Philippines needs to produce nearly 11.6 MMT of milled rice every year just to fill the requirements of its population. This does not yet include the buffer stock that the NFA is required to maintain every month. In a joint report released by the Orga-

nization of Economic Co-operation and Development and Food and Agriculture Organization, the country’s rice imports could increase by an average of 4 percent a year from 2015 to 2024. Setboonsarng said the increase in the population of the Philippines and other countries in Asia would affect future rice market. In the next five years, he said global population will increase by 433 million. Of this figure, 50 percent will come from Asia, while Africa will account for 34 percent. “Aside from higher rice consumption

due to an increase in population, less and aging farmers, urbanization, and the deterioration of rice farm lands would affect the rice market,” he said. Setboonsarng said the increase in population, as well as changes in global rice production would have a major impact on Asean. By 2024, five Asean countries would be classified as net rice exporters, while five others would be considered net rice importers. The Philippines is projected to remain as a net rice importer. The Philippine government, however, did not want to remain dependent on rice

imports. Because of its experience in 2008, the Arroyo administration was forced to target “self-sufficiency” in rice. At the time, the Philippines was forced to buy imported rice at $1,000 per metric ton (MT) due to tight global supply. The Philippines produced 16.24 million tons of palay in 2007, representing a 6-percent growth over the 2006 palay production. Despite the jump in production, it was not enough and the government had to scramble for stocks to augment local supply. Population growth, the increasing consumption of rice, and the need to beef up buffer stock for emergencies like calamities, necessitated the importation of 2.3 million tons of rice in 2008. As soon as President Aquino assumed office in 2010, Agriculture Secretary Proceso J. Alcala had declared that the Philippines would remain focused on achieving its rice self-sufficiency bid. To achieve this, the government poured money into the farm sector, with the rice subsector cornering a huge chunk of the Department of Agriculture’s (DA) annual budget. From 2011 to 2015, the DA received a total of P339 billion, the highest budget it has been allocated within a span of five years. The increase in budget allowed the DA to rehabilitate irrigation facilities and expand irrigated areas. This and other interventions such as the use of high-yielding seeds, Alcala said, increased the country’s rice self-sufficiency level to 96 percent from 82 percent in 2010. To be continued

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The Nation BusinessMirror

Editor: Dionisio L. Pelayo • Monday, October 19, 2015 A3

House passes bill freeing teachers from compulsory election duty

ONTHS before the May 2016 elections, a measure making election service noncompulsory for public-school teachers has been approved at the House of Representatives. House Committee on Suffrage and Electoral Reforms Chairman and National Unity Party Rep. Fredenil H. Castro of Capiz and Committee on Appropriations Chairman and Liberal Party Rep. Isidro T. Ungab of Davao said the proposed “Election Service Reform Act,” or the House Bill 5412, has been transmitted to the Senate for its own deliberations. The bill aims “to free schoolteachers from engaging in compulsory election duties as currently practiced and to open up election service to other government employees, members of the Commission on Elections (Comelec)-accredited citizen arms and private citizens of known probity and competence.” Under the bill, should there be a lack of teachers willing, available and qualified to serve, the Comelec may appoint any registered voter in accordance with and order of preference as provided under the proposed statute. The order of preference is as follows: 1) private-school teachers; 2) the Department of Education’s nonteaching personnel; 3) other national government officials and employees holding regular or permanent positions, excluding members of the Armed Forces of the Philippines (AFP), and the Philippine National Police (PNP); 4) members of the Comelec-accredited citizens arms and other Comelec-accredited civil- society organizations and non-governmental

AFP: Higher budget for Cafgu allowance, not recruitment

By Rene Acosta

HE Army said on Sunday that the increase in the budget of the Citizen Armed Forces Geographical Unit (Cafgu) under the 2016 national budget is due to the higher daily subsistence allowance of the military and not because of new Cafgu recruitment. The clarification was made by Army Spokesman Col. Benjamin Hao in response to a statement from one of the members of the House of Representatives who said “there can be no justification for the Cafgu budget increase to P3.4B in 2016.” Hao said the subsistence allowance of military personnel was increased from P90 to P150 per day. The increase took effect in mid-2014, but was fully implemented this year. “Just like the regular soldiers, Cafgu members also now receive P150 subsistence allowance daily, or a total of P4,500 or P4,650 per month. This is the main reason for the increase of the Cafgu budget in 2016,” he said. “Since this is the only monetary entitlement the Cafgu receive, their deployment and utilization are done in a manner that their livelihood activities are not impaired.” In order to ensure the welfare of Cafgus, the Army facilitates special benefits for them, including individual clothing and individual equipment, scholarship for dependents; maintenance of Cafgu bases; Philippine Health Insurance Corp. benefit; and insurance benefits. The Army said it was also putting on hold the recruitment of Cafgu members this year in compliancewiththeprovisionsoftheGeneralAppropriationsActFiscalYear2015(GAAFY2015). Section 3 of the General Provisions of GAA FY 2015 provided “No new Cafgus shall be recruited for training and the corresponding costs attendant to the training of existing Cafgus shall be gradually scaled down in anticipation of its planned demobilization as a result of the implementation of the Revised AFP Modernization Program.” As of August this year, there were 53,004 Cafgu members deployed to the 14 battalions of the Philippine Army which administer the Cafgu units. The Cafgu strength at the start of 2015 was around 56,000.

Lando makes landfall in North, Central Luzon

EAVY rains and strong winds associated with Typhoon Lando toppled trees and power posts, swamped agricultural lands and damaged houses in Northern and Central Luzon, the National Disaster Risk Reduction and Management Council (NDRRMC) said on Sunday. No casualty was reported as of press time. NDRRMC Executive Director Alexander Pama said that more than 6,500 individuals living in flood and landslideprone areas and even low lying areas in provinces affected by the typhoon were also evacuated. Initial impact assessment of damages wrought by Lando indicate that the government may not need outside help, even as Malacañang indicated on Sunday it would welcome foreign assistance, just the same. Communications Secretary Herminio B. Coloma Jr. confirmed that President Aquino continues to closely monitor and gets up-to-date reports from Pama on the typhoon situation. Coloma added that other concerned government agencies are also providing regular updates for the President, who is monitoring the situation through his Cabinet secretaries. The initial damage brought by Lando was reported by the NDRRMC as it continue to monitor developments in the affected areas, particularly in provinces in Central Luzon and Northern Luzon which were badly hit. The typhoon made a landfall at around 1 a.m. on Sunday in Aurora, or several hours before 8 a.m. as forecasted by the state weather bureau Philippine Atmospheric, Geophysical and Astronomical Services Administration. With its strong winds of 171 to 220 kilometers per hour in Aurora, the NDRRMC said the typhoon made “considerable damage to structures of light materials,” including tearing off walls and roofs of houses. Rene Acosta and Butch Fernandez

organizations (NGOs); 5) any citizen of known probity and competence who is not involved with any candidate or political party. It also provides that government employees need not be registered voters of the city or municipality where they wish to serve. Private-school teachers, members of citizens’ arms, and other civil society and NGOs and any citizen of known probity and competence must be registered voters of the city or municipality where they wish to serve.

However, in cases where the peace and order situation so requires, only members of the PNP and not the AFP may be deputized as members of the Board of Election Inspectors, special Board of Election Inspectors, Board of Election Tellers or the Special Board of Election Tellers. The measure also provides that persons rendering election services should be entitled to honoraria, travel allowance and such other benefits as may be granted by the Comelec, at rates to be determined and

approved by the Department of Budget and Management (DBM), subject to existing accounting, budgeting and auditing rules and regulations. Such honoraria and allowances shall be paid not more than 15 days after the date of election, and the rates shall be reviewed, when necessary, by the Comelec and the DBM. Other benefits shall include death and/or medical assistance for election-related risks at rates to be determined by the Comelec and the DBM. Jovee Marie N. dela Cruz

Economy

A4 Monday, October 19, 2015 • Editors: Vittorio V. Vitug and Max V. de Leon

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P132B reserved for programs aiding vulnerable communities

By Estrella Torres & Cai U. Ordinario

udget Secretary Florencio B. Abad said the administration needs to set aside P132 billion from the 2016 national budget to fund programs that seek to boost the resilience of vulnerable communities amid threats of the impact of climate change. This is based on the ongoing audit of the Department of Budget and Management (DBM) and the World Bank. With this, the DBM has tagged P132 billion worth of projects for climate-change expenditures under the proposed P3.002trillion budget for 2016. The tagging project is part of the calls made by finance ministers of the Vulnerable Twenty (V20) group of countries that seeks to mobilize funds for a global response to climate change. The Philippines leads the V20 group that represents nations facing the highest risks from climate-change impact. The conclusions of the V20 meeting last week in Peru will be raised at the Conference of the Parties 21 (COP21) Climate Conference in Paris. “The amount of P132 billion for climate expenditures is a huge investment, but we have

abad

balisacan

been working on increasing the budget to address climate change since 2011. More important, the 2016 budget builds on the lessons of Typhoon Yolanda, as well as focusing on climate-change adaptation. This prioritization reflects the national government’s major support for enhancing disaster preparedness and resilience i n v u l nerable com mu n it ies,” Abad said. The bulk of the tagged P132-

billion resiliency fund, or 72.2 percent, will be used to fund flood-control projects of the Department of Public Works and Highways (DPWH). He said the funds will cover construction of flood-control facilities covering 18 major river basins and principal rivers and watersheds by the DPWH, costing P59.8 billion. The DBM and the World Bank also tagged reforestation of 1.5 million hectares under the climate expenditures. The project will cost P10.2 billion under the six-year National Greening Program of the Department of Environment and Natural Resources. Other tagged projects include the P12.9-billion farm-to-market roads under the Department of Agriculture. The budget chief said the tagging of climate expenditures in the 2016 budget makes it easier for the national government to identify them, ensuring their t ra nspa renc y a nd en ha nc ing their effectiveness. The National Economic and Development Authority (Neda) said the Philippines is keen on supporting a legally binding accord on climate change. Neda Director General and Economic Planning Secretar y A rsenio M. Ba lisacan said achieving the recently approved Sustainable Development Goals (SDGs) wou ld be i mpossible

without a global agreement on climate change. The COP21 will take place in Paris, France, from November 30 to December 11. The event aims to create a new global agenda on climate change. “As president of the Climate Vulnerable Forum, and as one of the most disaster-prone countries in the world, we will also work in the upcoming Paris conference to ensure that we adopt a new legally binding climate agreement that is universal and equitable,” Balisacan said. Addressing the need for adaptation and mitigation measures for climate change has been included as Goal 13 of the 17 SDGs. Under Goal 13, countries must strengthen resilience and adaptive capacity to climate hazards and natural disasters, as well as integrate climate-change measures into national policies, strategies and planning. The goal also aims to improve education, raise awareness, and improve human and institutional capacity on climate-change mitigation, adaptation, impact reduction and early warning. T he last target has t wo subtargets, mobilizing $100 billion annua l ly by 2020 from a l l sources to address the needs of developing countr ies for mitigation actions and operationa lize the Green Climate Fund, as well as promote mechanisms

to raise capacit y for climate c h a n g e - r e l at e d p l a n n i n g i n least- developed cou nt r ies, women, youth and loca l and marg ina lized communities. For the Philippines, Balisacan emphasized the need to put in place climate-change adaptation and mitigation measures, particularly at the local levels, and increase investments toward a climate-resilient economy. “ We h ave s e e n e x t re me weather disturbances occurring with greater frequency and intensity. These calamities can negate our gains in reducing poverty, and even push back development,” he noted. On t he SDGs, mea nwh i le, Balisacan expressed the country’s appreciation of the emphasis placed on the SDGs’ Goal 14 to conserve and sustainably use oceans, seas and marine resources for sustainable development. He also welcomed the inclusion of Philippine priorities on the 2030 Agenda, including collective action for conservation, vulnerabilities and inequality of opportunities. T he C a bi ne t of f ic i a l a l s o recognized the potential of the 2030 A gend a, wh ic h cont a ins t he SDGs, to cont inue t he u nf inished business of t he Mi llenniu m Development Goa ls, as it is now embedded in t he more a mbit ious a nd compre hensive SDGs, compr i sed of

17 goa ls a nd 169 t a rgets. Moreover, Balisacan called on the other world leaders to mainstream migration in the development process, reduce remittance costs and fully respect the human rights of migrants. He, likewise, noted the pressing need to address maternal a n d r e p r o du c t i v e h e a lt h t o accelerate t he f u lf i l lment of women’s human rights and the demand to strengthen the capacities of statistical agencies to make official statistics more disaggregated, frequent, timely and accessible. To meet the financial and technical requirements of the SDGs, the Philippines sought partnerships for expanding access to resources for domestic resource-mobilization capacity-building, leveraging private-sector participation and achieving resiliency. “To move forward and achieve the overarching goal of eradicating poverty, we must now develop our national plans and budgets for its [SDGs] implementation and monitoring. In doing so, we will collaborate with civil society and all stakeholders in line with the principle of inclusiveness and accountabi lit y,” Balisacan said. The 2030 Sustainable Development Agenda will define international, regional and national development agenda priorities over the next 15 years.

briefs antismuggling drive lacks teeth–sen. villar SEN. Cynthia Villar expressed disappointment over the handling of smuggling cases, which have been moving mostly at snail’s pace. Villar, chairman of the Committee on Agriculture and Food, is the principal sponsor of Senate Bill 2923, or the AntiLarge Scale Agricultural Smuggling Act. The bill, passed on third reading by the Senate, seeks to declare agricultural smuggling as a nonbailable offense of economic sabotage. She is hoping that the bill, once enacted into law, would give more teeth to the country’s antismuggling campaign and “send a strong message that this government is serious in eradicating smuggling in our country, and that economic saboteurs will be severely punished for threatening our country’s food security.” Recto Mercene

phl tax process among world’s most tedious

THE Philippines does not only impose one of the highest income-tax rates in Asia, it also has one of the most tedious processes for paying taxes in the world. Sen. Francis Escudero cited a study by the international audit firm PricewaterhouseCoopers (PwC) that ranked the Philippines 127th among 189 economies reviewed in terms of ease of paying taxes for businesses. Thailand is ranked 62nd and Malaysia 32nd. “The Philippines is just three notches above Sierra Leone and 12 notches above Sudan in the rankings. In fact, it’s even easier to pay taxes in Iraq, Iran and Afghanistan. What does that say about us?” Escudero asked. “Where else will you find a country that taxes its people severely and then makes it hard for them to pay?” he said. Recto Mercene

13 major retailers and mall operators join forces for PHL Shopping Festival

he country’s 13 major mall operators are joining forces with the Philippine Retail Association (PRA) and the Department of Tourism (DOT) to ensure the successful staging of the Philippine Shopping Festival from October 23 to November 8. PRA President Lorenzo C. Formoso, COO of Duty Free Philippines, said major retail hubs all over the country will offer big discounts and undertake various promotional events that will make the two-week shopping extravaganza a phenomenon that the world will notice. “While market forces will still determine who gets to score the highest sales, it is worth noting that the competing malls and shopping centers in the country are moving in one direction to make this a highly successful endeavor,” Formoso emphasized. Participating in the two-week festival are Duty Free Philippines, Ayala Malls, Araneta Center Inc., ShangriLa Plaza Corp., Starmall, Robinson Malls, SM Supermalls, Riverbanks Center, Festival Supermall, Megaworld Lifestyle Malls, Ortigas & Co., Greenfield Development Corp. and Sta. Lucia East Grand Mall. “It would be a grand sale in the entire country, as the major retailers and mall operators join forces in a bid to promote the country as the new Asia-Pacific region’s shopping

FORMOSO: “While market forces will still determine who gets to score the highest sales, it is worth noting that the competing malls and shopping centers in the country are moving in one direction to make this a highly successful endeavor.”

mecca,” Formoso added. The PRA and the DOT thought of organizing the unity shopping festival to take advantage of the staging of two big global events that the Philippines is hosting this year—the Asia-Pacific Retailers Convention and Exhibition (APRCE) 2015 and the Asia-Pacific Economic Cooperation (Apec) Leaders Summit that is preceded by a long series of high-level technical committee and ministerial meetings. PRA Chairman and APRCE 2015 Overall Chairman Frederick D. Go, president of Robinsons Recreation Corp., said the Philippine Shopping Festival 2015 is a noble endeavor that they hope to convert into an annual retail spectacle that the world would be anticipating each year. “Featuring two weeks of great retail bargains and other promotional activities nationwide, the Philippine

Shopping Festival will not only benefit the retail and tourism industry but also contribute to other industries, like hotels, transportation and etc., which, in turn, will boost the country’s economy,” Go added. The Apec Leaders Summit will be in the first week of November, but its various senior officials and ministerial meetings started back in December last year and are currently in progress. The APRCE, on the other hand, is slated from October 28 to 30 at the SMX Convention Center in Pasay City. The APRCE Manila 2015 is expected to attract over 2,000 local and international retailers and industry executives. The expo, likewise, expects more than 200 local and foreign exhibitors. Manila last hosted the APRCE 22 years ago, also through the PRA’s efforts with support from then-President Fidel V. Ramos. It was also under Ramos’s term that the country last hosted the Apec Leaders Summit in 1996. PRA Chairman Emeritus Samie Lim, chairman of BLIMS Lifestyle Group and Canadian Tourism and Hospitality Institute, and the acknowledged Father of Philippine Franchising, noted that the APRCE will be a venue for foreign retailers who are also looking for possible equity ventures in the Philippines and will see the market first hand.

Tourism & Entertainment A6

Monday, October 19, 2015 • Editor: Carla Mortel-Baricaua

Curator of the nation’s cultural heritage and natural history

RIGHT across The Spoliarium is Felix Resurrecion Hidalgo’s The Assassination of Governor Bustamante and His Son.

S    S B O. S

N the age of social media, smartphones, selfies and the Internet, it’s fair to ask if 130-yearold paintings like Juan Luna’s Spoliarium and Felix Resurreccion Hidalgo’s The Assassination of Governor Bustamante and His Son matter to the nation’s youth?

Based on the long queues at the gates of the National Museum when I visited during one Saturday, then yes, Filipino history, heritage, culture and the arts can still stimulate the interest and play a major role in the development of our nation’s millennial generation. Never mind if some students were required to visit for a class report, course credits or just want to take selfies to serve as new profile pictures; the fact that the youth of today spent one to hours of wandering and learning inside the National Museum complex already gives them a leg up compared to my primary education days. Despite being a few blocks away from my home in A. Mabini Street, this is actually only my second time to visit the National Museum along P. Burgos Drive in Ermita, Manila. Housed in what used to be the old Legislative Building is the National Museum of Fine Arts, where Luna and Hidalgo’s masterpieces, as well as other famous works of art can be found.

Keep in mind the house rules TO enter, guests must first register in the museum’s logbook and surrender their bags with the security personnel; only wallets, cell phones and cameras are allowed inside. Whether going on a do-it-yourself or guided tour, the Hall of Masters (former House of Representatives Session Hall), should be your first stop inside the museum. Both the Spoliarium and The Assassination of Governor Bustamante paintings are massive floor-to-ceiling installations and are celebrated not only for its aesthetics but also for the honor (gold and silver medals at the 1884 Madrid Art Exposition, respectively), meaning and significance they represent. From here, it’s best to go to the adjacent galleries one-by-one, starting with Gallery I (Luis I. Ablaza Hall) featuring religious art from the 17th to 19th centuries. Other noteworthy and interesting galleries include Galley IV (Fundacion Santiago Hall) that contains academic and neoclassical sculptures; Gallery V, a homage to Dr. Jose Rizal; and Gallery X (MFP Hall) which displays murallike paintings with the theme: The Progress of Medicine in the Philippines by Carlos ‘Botong’ V. Francisco, National Artist for Visual Arts (1973).

Level 3 (Senate floor) DUE to time constraints, I guessed that most of the students who were at the venue skipped the floor above since the crowd was thinner in the upper galleries. One particular gallery, Gallery XX, should bring flashbacks to those who were able to watch the recent Heneral Luna film as Juan Luna’s Parisian Cafe (Interior d’un Cafe) is hanged prominently on one side of the room. Aside from featuring temporary and on-loan pieces, the third level is also dedicated to modern and contemporary works from the 20th to 21st centuries. Famous artworks by Fernando C. Amorsolo, the first National Artist of the Philippines, Federico Aguilar-Alcuaz, Vicente S. Manansala, Arturo Luz, Benedicto ”Bencab” Cabrera, and a host of other Filipino artists are all displayed on the walls and galleries of the third level.

Museum of the Filipino people ACROSS the street is the National Museum of Anthropology (NMoA), the former site of the Department of Finance, that showcases anthropological and archaeological treasures like artifacts, clothing and photographs of the Filipino people. Compa re d to t he a b st r ac t , impressionistic, and portrayed nature of the Fine Arts building, items, installations and displays inside NMoA are actual evidence and proof of who and what we are as a Filipino nation. Exhibits such as the Five Centuries of Maritime Trade Before the Arrival of the West, The Origin (Pinagmulan), Archeological Treasures (Kaban ng Lahi), and The Filipinos and Their Rich Cultural Heritage (Kinahinatnan) are tangible proof that the Philippines’s history, culture and heritage is a rich and unique one that all Filipinos should be proud of.

The newest ‘kid’ on the block ASIDE from seeing the Spoliarium a second time, what really made me come back to the National Museum was the newest installation found at the second level of the museum of the Filipino People. Unveiled to the public on October 7 was the Section 22 (of 40) of the Berlin Wall that used to separate West and East Germany. Erected in 1961 by German Democratic Republic (East),

“it became the iconic symbol of a divided Europe and the Cold War until its demolition commenced on November 9, 1989. The fall of the Berlin Wall was the first step in the reunification of Germany, which occurred on October 3, 1990.” Donated by the city of Berlin to Manila, Section 22 measures 3.65 meters tall and 1.2 meters wide and weighs 2.5 tons; NMoA actually serves as its temporary storage before being permanently installed in a dedicated area for public viewing inside Rizal Park. As with all artworks in the museum, touching the wall is a big no-no. The colorful, graffiti-like “front” was the side visible from West Germany, while the plain white wall (with some writings) was the side visible on the East side of Germany.

Manunggul Jar and ‘butanding‘ skeletons THERE were two artifacts/displays that I saw previously but I missed on my second trip for one reason or another. The image of the Manunggul Jar, a “secondary burial jar excavated from a neolithic burial site in Manunggul cave of the Tabon Caves in Palawan,” can be found on the backside of the old (New Design/ Bangko Sentral ng Pilipinas series) Philippine P1,000 bill with the lid topped by two figures measuring no more than three inches in height. With the Saturday crowd, I must have passed by the jar without noticing it. The butanding or whale shark skeleton, meanwhile, was probably taken down from the old Legislation Building and transferred to the zoology division inside NMoA. An installation of that size (the largest confirmed size is 12.65 meters/41.5 feet) is definitely not hard to miss but might not have been available for public display. Aside from traveling through the Philippine history without having to visit all 7,107 islands, the best part of the National Museum experience is its free admission for the whole October (Museums and Galleries Month). Those who are unable to go this month may opt to go on Sundays or in May next year (National Heritage Month) when admission is also free.

Tips

 Regular entrance fee is P50 for students, P150 for adults and P120 for senior citizens. For groups of 51 or more, the fees are P40 for students and P120 for adults/senior citizens.  During days with free admissions, it’s best to go to the venue early. Gates open at 10 a.m. and close at 5 p.m.  It helps to have a steady hand when shooting dark/dim-lighted artworks; flash photography is prohibited and tripods must be surrendered together with nonessential belongings.  Follow the house rules of not touching any museum piece so that other people and future generations can still witness and appreciate them up close and personal.

A8 Monday, October 19, 2015 • Editor: Efleda P. Campos

OurTime BusinessMirror

news@businessmirror.com.ph

Dangal Awardees: Still serving at their prime F By Bianca Cuaresma, Roderick Abad and Claudeth Mocon-Ciriaco

OR some people, the heart of service and excellence continues to burn strongly— even at the twilight of their lives.

As such, the BusinessMirror, in partnership with the United Bayanihan Foundation (UBF) and RiteMed, will be holding its third Dangal (Dakilang Adhikain ng Ating Lahi) Awards for the Elderly on October 27 at the Bayanihan Center, Pasig City. The Dangal Awards seek to give due appreciation and recognition for senior citizens who still have the fire of exemplary service—particularly to the elderly community—strongly in their respective lifestyles. The awardees were chosen due largely to the inspiration they give, as well as the concrete projects they have spearheaded during their times of service in the community, which ultimately benefit the aged community—the community who laid the groundwork of what the current generation is reaping. BusinessMirror Publisher T. Antonio Cabangon said the people of more advanced ages are evolving and becoming more proactive in contributing to societal progress despite being at the twilight of their lives. “We have to change this perception that elderly people aren’t capable of change,” Cabangon said. “These people, especially our Dangal awardees, are able to prove that they can contribute, inspire and change the world, and that they deserve due recognition and praise. And we are doing that exactly,” he added. For this year, five individuals and five associations of elderly citizens at the local government level will

receive recognition from the BusinessMirror and its partners UBF and RiteMed. Here is a glimpse of the awardees for the year:

Individual category

DANTE Pacheco, 68, is curently the officer in charge of he Office of the Senior Citizens Affairs (Osca) in Parañaque City. He was appointed to the position in 2013 with the intent of having changes in the structure of Parañaque’s Osca. Pacheco, a retired businessman and a former barangay captain, was known to have introduced “Osca Cares” in their city—covering health and social programs for the elderly. Also among his flagship programs were the establishment of an elderly database for easy recognition, access and registration of the elderly in the city. He also pushed for the establishment of physical offices that serve senior citizes in most of the barangays in Parañaque City.

NANCY Sabado, 65, is the assistant Osca head in Manila. Sabado is also the National Service Training Program facilitator in Centro Escolar University, Manila. Having a graduate degree in social work, Sabado is in charge of implementing leisurely activities for the elderly in Manila—changing Manila’s Osca system from a mere identification card-dispensing agency to an association centered at entertaining and caring for the wellness of the elderly in the city. Sabado is also the president of Barangay 29 Senior Citizens Association and was awarded this year as one of the Outstanding Employees of the Manila City Hall.

Parish/Shrine of Our Lady of Mercy-Diocese of Novaliches, Quezon City UNDER the Vicariate of Our Lady of Mercy, the Parish/Shrine of Our Lady of Mercy assists the needs of senior citizens via its Ministry for the Elderly. They pursue holistic wellness programs aimed at promoting the total well-being of the elderly population in Novaliches, Quezon City. These include spiritual activities, such as Biblesharing sessions, Purpose Driven Life Seminar, Lenten and Advent recollections, as well as pilgrimages. For physical development and health promotion, members are engaged in exercise, dancing activities and medical missions. Livelihood projects are provided to improve their productivity, while the social development part of its thrust involves fellowship sessions and seasonal parties.

4,796 senior citizens receive support from Palawan govt through 2014 LSP

UERTO PRINCESA CITY—The Provincial Social Welfare and Development Office (PSWDO) in Palawan reported last week that it provided Local Social Pension (LSP) to 4,796 senior citizens in 2014. PSWDO Officer in Charge Abigail Ablaña said that based on their data, the monthly pension was provided for Palawan’s elderly citizens aged 73 to76 amounting to more than P14.3 million. This year the target on or before December is to provide LSP to 5,665 senior

Above 60 Academy WHAT started as a cooking contest in 2010, Above 60 Academy has grown today as a private group of the aging constituents of Marikina City. Founded by Dr. Cheridine Oro-Josef, this school for the elderly works closely with the government, through the Osca. It regularly conducts health education and recreational activities for about 200 members at the

citizens from a budget of P17 million, and open to even those in the ages of 60. OpeningtheLSPtoseniorcitizensbelow the ages of 73 was due to clamor from senior citizens, who have no monthly pensions from any other government and non-governmental agencies, and who also need help. Ablaña said the provincial government, under Gov. Jose Alvarez, is supportive of the welfare of the elderly people in Palawan, and understands that they need the LSP to defray costs in medicine and other needs. PNA

DR. Pablo Marcelo, 81, has been the head of the Osca of Valenzuela City since 1995. The Philippine Dental College (now De Ocampo Memorial College) Dentistry graduate also served as barangay chairman and barangay kagawad of Maysan, Valenzuela City. He then served as city councilor from 1995 to 2004. The city government of Valenzuela still regard Marcelo as one of the most productive officials of the city, so even if he had signified his intention to leave his post in some occasions, he was asked to continue serving the elderly citizens of Valenzuela—an indication of his exemplary work at the Osca.

DR. Cipriano GUArin, 73— Makati City’s Osca head—said he can only rely in three “P’s” in its efforts to make the lives of elderly in the city productive and well taken -cared of—these are purpose, potential and passion. He attributed the “good management” that Makati City is giving to the senior citizens to the “political will and good fiscal management by the Binay administration.” He stressed that what they have in mind is to make the remaining days of the elderly in the city more fruitful and enjoyable for them. Guarin is also the former director of Young Men’s Christian Association (YMCA)-Makati and former president of YMCA (senior).

Group category

Office of the Senior Citizens Affairs-San Juan City AS a show of care to the aging constituents, the city of San Juan’s Osca is tasked to provide the best benefits to the elderly under the government’s protection program for them. It has implemented health-care projects to the benefit of the city’s senior citizens, such as Philippine Health Insurance Corp. membership campaign, environment cleanup and lifestyle modification lectures. Osca-San Juan also has proposed P1.023-million appropriation for its Gender and Development Plan from 2016 to 2019. This is aimed at supporting the activities of the 20,000 elderly, like camaraderie, sportsmanship, physical fitness, the yearly Elderly Week and Walk of Life, among others.

Pastoral Care for the Elderly Head Dra. Naty del Rosario (left) and Our Lady of Mercy-Ministry for the Elderly President Iluminada Sassatelli

ESPERANZA Cruz, 69, is currently the president of the Federation of Senior Citizens in San Mateo, Rizal. She is also the three-term president of Vista Hermosa Homeowners Association. Among her flagship programs for the elderly included the visitation of the bed-ridden elderly in their city, particularly on Christmas day. Cruz, who despite her age stays in the office nine hours a day, has also instituted a chorale and dancing group for the elderly in their area. She also advocates gift-giving to the elderly in San Mateo regardless of social class. Among other programs she wants to work on is the imposition of protection of elderly rights, currently in the works in her area.

Above 60 Academy President Illuminada Adraque (from left), member Salvador Palad, Academy Founder Dr. Cheridine Oro-Josef and Overall Senior Citizen Health Office Head Tess Laurel

Office of Senior Citizens Affairs-San Juan City Head Teresita Cumba (left) and Federation of Senior Citizens Vice President Arsenia Guce

Felizamin fresnosa (from left), head of the city’s senior citizens department; Letecia Castillo, volunteer; Barangay Chairman Donna B. Jarito; and Rita Carpio, presiding officer senior council

Senior Lifestyle Center in the “Shoe Capital” of the Philippines. In addition, it has programs on promoting physical fitness and spiritual upliftment. The academy also holds regular visits to Home for the Aged, counseling through Seniors for Seniors Program, as well as social activities like Christmas parties and gift-giving to the needy, among others. Office of the Congressman– First District of Batangas THE Office of Rep. Eileen Ermita-Buhain of the First District of Batangas is also one of the recipients of the award in the Group Category. Ermita-Buhain’s office implemented a series of programs for senior citizens, also in part-

nership with the UBF throughout the eight municipalities covered by the First District of Batangas. The eight towns are Balayan, Calaca, Calatagan, Lemery, Lian, Nasugbu, Taal and Tuy. Among the programs she implemented were health and wellness, fora, as well as training for barangay health workers on proper care for elderly . There are around 12,500 senior citizens registered under her office. Barangay 177 Senior Citizens Office of Caloocan City FELIZAMIN Fresnosa, head of the city’s senior citizens department, said she is making all the efforts for senior citizens to know their rights, including op-

Condrei Cabrera (left), technical consultant, and Cesar P. Rodriguez, senior technical consultant

portunities and their protection. Their group is composed of 25 associations with a total of 3,300 members. The group recognized the need to address problems on health, social protection and livelihood. T his necessitated the implementation of the fivepoint program in collaboration with non-governmental organizations, funded by the mandatory 1-percent allocation for senior citizens.

News

BusinessMirror

Monday, October 19, 2015

Election ban could derail ₧171-B South Line deal

By Lorenz S. Marasigan

ONG KONG—The government no longer has the luxury of time in its bid to find a private-sector partner for the P171-billion North-South Railway South Line project, with the election ban drawing near. With this, First Pacific Ltd. Co. Managing Director Manuel V. Pangilinan said his company is hopeful that the Philippine government will be able to fast-track the bidding process. “We have no idea as to the timing, whether, indeed, they can bid it out by the

time of the election ban,” he said over dinner late Friday here. Just recently, the Department of Transportation and Communications (DOTC) decided to extend the deadline for the submission of qualification documents for the project’s bidding to December 1.

Bidders were supposed to forward the requirements last week. “We don’t know whether there is still time,” said Pangilinan, who chairs Metro Pacific Investments Corp. (MPIC). “It is beyond our control.” The law prohibits agencies from pursuing auctions for infrastructure deals 45 days before and after a local election. Ongoing auctions, however, will not be affected by the ban. Filipino companies have expressed interest in the project, but only MPIC and San Miguel Corp. have so far purchased bid documents for the deal.

MBC hoping RFI bill will stay dead in 16th Congress Continued from A1

Horizontal projects new focus of Avida. . .

“We have house-and-lot developments in Cabanatuan, Bulacan, Davao and Cagayan de Oro. Wherever the market demands us, we will go and look for those places,” Tatco said. She said, however, that Avida needs at least 20 hectares of land to develop a subdivision or a village. The usual lot cut for each Avida unit is about 100 to 120 square meters, but the company also sells units for as small as 60 sq m. “[Our units are] really for the middle-income segment, such as start-up families. Of course, we have the larger lot cuts, but our core target really are those buying the 100 to 120 sq m, with

a floor area of 80 sq m,” she said. “We’re looking at expanding outside of Metro Manila. We have sufficient inventory in Nuvali, where we have our biggest landbank,” Tatco said. Avida, which is celebrating its 25th anniversary this year, is the biggest contributor to Ayala Land in terms of number of units and projects, which are scattered across the country. At the moment, the company has built 60,000 homes within 74 projects in 39 various locations nationwide. The company started as Laguna Properties Holdings Inc. (LPHI), created just to develop the housing project for the Laguna Technopark.

Continued from A1

It was at that time when Ayala Land bought some 400 hectares of land in Santa Rosa, Laguna, from the Yulo family. “Twenty-five years is not a small amount of time. I remember well the LPHI days; it was a much smaller company, much limited in scope. But already, we were so proud of it at that time. Nowadays, when I travel the country, I see Avida so often, and I’m always so proud,” Ayala Land Vice Chairman Jaime Augusto Zobel de Ayala said during Avida’s anniversary celebration last week. “I have absolutely no doubt that as we face the next 25 years together, we will continue to grow,” he said.

The private sector, he said, is calling on the administration to push other key reform bills, instead. “In terms of legislation, we think the Department of Information and Communication Technology is still doable; the Customs Modernization and Tariff Act, the amendments to the Right of Way Act,” Perfecto said. Perfecto said they prefer that the RFI bill is tackled again in the next Congress, so there would be ample time to polish the controversial measure. This, the MBC official noted, is more prudent, as the administration would be able to avoid a rushed version of the bill that will only risk the country’s competitiveness as an investment destination.

This sentiment came at the heels of the statement of House Ways and Means Committee Chairman Rep. Romero S. Quimbo that the RFI bill is practically dead. This was caused by the continued disagreement between the Department of Trade and Industry (DTI) and the Department of Finance (DOF) on the proposal to cut perks, specifically the coveted income- tax holiday (ITH). The DTI already drafted a “consolidated bill” containing the “replacement incentive packages” for the Board of Investments (BOI) and the Philippine Economic Zone Authority (Peza), the country’s two major investment-promotion agencies. For the BOI, the current ITH of up to eight years was proposed to be replaced by a 15-percent reduced corporate income tax (CIT) for 15 years.

For Peza and other economic zones housing export-oriented firms, differing packages were also proposed. These include a cap on the ITH for four years, after which a combination of reduced CIT or 5 percent on gross income earned would be implemented. Even after the headway gained on the substance of the incentives bill and the claim of the DOF and the DTI that the measure was already “80-percent consolidated,” the proposed legislation failed to move from the committee level of both houses of Congress. President Aquino pushed the passage of the RFI bill during his last State of the Nation Address. The RFI bill was first introduced in Congress in 1995 and has been refiled in every Congress since.

A10 Monday, October 19, 2015 • Editor: Angel R. Calso

Opinion BusinessMirror

editorial

We need more trade schools

eresita Sy-Coson, the top executive of conglomerate SM Investments Corp., was subject to criticism last week for saying that she did not agree with the government’s K to 12 Program for education.

This is certainly not the first time that the K to 12 Program has been subjected to questioning, and it will not be the last. Sy-Coson went on to say that the country is still developing and may not be ready for such changes, as she spoke in one of the sessions of the Forbes Global CEO Conference. Obviously, there are arguments on both sides of the issue that make sense. For some in the lower economic classes, they feel that the program both increases the cost of basic education to families that also genuinely need to have their young adults earning in the work force. On the other hand, proponents call for longer basic education in order that students will have higher qualifications when they do become part of the working population. However, when you look at the specifics of what Sy-Coson said and what the vision of the K to 12 Program is, both may be on the same page. Decades ago when the United States was at the top of the global educational standards and accomplishments, American high-school students were given the opportunity to choose from three particular education tracks. The Liberal Arts track was for college-bound students interested in the arts, education and other professions, like the law. The Science track was for those who intended to pursue further education in medicine, science and related fields. The third track was Vocational Arts that taught courses in woodworking, mechanics and the like. Sy-Coson said she believes a country like the Philippines needs to have many vocational schools that can train people who would train for the different skills needed by industries to grow. We completely agree. The government’s vision for the K to 12 Program envisions somewhat the same goals. Each student can choose among three senior high-school tracks: Academic; Technical-Vocational-Livelihood; and Sports and Arts. The Academic track includes three strands: Business, Accountancy, Management; Humanities, Education, Social Sciences; and Science, Technology, Engineering, Mathematics. After finishing Grade 10, a student can obtain Certificates of Competency or a National Certificate Level I (NC I). After finishing a Technical-Vocational-Livelihood track in Grade 12, a student may obtain an NC II, provided he or she passes the competency-based assessment of the Technical Education and Skills Development Authority. But the problem is not the vision; the problem is the implementation. Most, if not nearly all, senior high schools will not have the resources for the Technical Vocational Education & Training track. Sy-Coson is absolutely correct that more vocational schools are needed, but this is not an area where the private sector has effectively provided in the needed number except for information technology and computers. The K to 12 may be a good start, but the nation’s private sector needs to build more trade schools and not just fancy colleges and universities.

An optimistic outlook for the country Atty. Jose Ferdinand M. Rojas II

RISING SUN

“renewed outlook and optimism”—this, said President Aquino, is the “one central achievement” of his administration, as the country now enjoys vibrant economic growth built on a foundation of good governance and reforms. The President said this in a oneon-one dialogue with Forbes Media Chairman and Forbes Magazine Editor in Chief Steve Forbes last week at the 15th Forbes Global CEO Conference, an annual event held for the first time in Manila. The conference theme this year, “Toward a Winning Vision,” is about visionary leadership, focusing on how companies need to have a clear vision based on competencies, values and purpose to drive their businesses; how they can meet business challenges in a rapidly changing world; and how visionary leaders inspire and motivate employees and win the hearts of customers in their quest for success and meaning. The conference had among its attendees around 50 prominent business leaders. The speakers and panelists included President Aquino, Finance Secretary Cesar V. Purisima, and local tycoons Teresita Sy-Coson, Enrique K. Razon Jr., Ramon S. Ang, Manuel B. Villar Jr. and Jaime Augusto Zobel de Ayala, as well as CEOs and leaders from Singapore, Malaysia, Indonesia, Japan, Taiwan, China, Thailand, South Korea, Hong Kong,

Australia, Israel and the US. Forbes, clearly impressed with the robust 6-percent to 7-percent average annual economic growth rate achieved during the Aquino administration, began the dialogue with President Aquino by saying, “People who hadn’t been here for a while are very surprised at the dynamism of the economy….” He joked that “some of us are going to try and get a constitutional amendment so that President Aquino, when he leaves office next year, can come to the US and give us the 6-percent growth rate.” He referred to this as a “great breakthrough in growth rates in the Philippines that hasn’t been seen in decades.” The President explained that the gains are due to the crafting of policies on good governance and reforms and their subsequent implementation, citing as examples the doubling of tax collection by the Bureau of Internal Revenue without new tax laws; massive investments in social services, including education and health; the “sin” tax; and reforms in the banking sector and cabotage. These all flowed, the President

said, from the idea that “Where there is no corruption, there will be no poor [people].” It was a “virtuous cycle,” he added, “of us delivering on the promises, the expectations rising, and then the optimism generating a more positive activity within the economy both in terms of the growth of the middle class and also the confidence of those who have the economic clout to effect changes in our country.” The President also identified some of the sectors that had potential for higher economic growth as business-process outsourcing, tourism, electronics manufacturing and agriculture. He ended his talk by pointing to his administration’s “one central achievement” as the “renewed outlook and optimism” of people in and outside of the country that engenders the “new attitude, from ‘nothing was possible’ to ‘everything seems to be possible.’” Congratulations to President Aquino on his informative, enlightening and inspiring message at the 15th Forbes Global CEO Conference. Read the dialogue in its entirety at gov.ph. nnn

The Philippine Charity Sweepstakes Office continues delivering medicaland health care-related services to the remote areas of the country by turning over 38 ambulances to Mindanao on Monday under the agency’s Ambulance Donation Program. The recipients of this latest batch are from Bukidnon: Kalilangan, Talakag, Provincial Health Office of

Saudi Arabia’s oil war with Russia

By Leonid Bershidsky | Bloomberg View

S President Vladimir Putin tries to restore Russia as a major player in the Middle East, Saudi Arabia is starting to attack on Russia’s traditional stomping ground by supplying lowerpriced crude oil to Poland. At a recent investment forum, Igor Sechin, chief executive of Rosneft, Russia’s biggest oil company, complained about the Saudis’ entry into the Polish market. “They’re dumping actively,” he said. Other Russian oil executives are worried, too. “Isn’t this move a first step toward a redivision of Western markets?” Nikolai Rubchenkov, an executive at Tatneft, said at an oil roundtable on Thursday. “Shouldn’t the government’s energy strategy contain some measures to safeguard Russia’s interests in its existing Western markets?” European traders and refiners confirm that Saudi Arabia has been offering its oil at significant discounts, making it more attractive than Russian crude. And, even though most eastern European refineries are now technologically dependent on the Russian crude mix, Russia’s oilmen

are right to be worried. In the 1970s Saudi Arabia sent half of its oil to Europe, but then the Soviet Union built export pipelines from its abundant West Siberian oil fields, and the Saudis switched to Asian markets, where demand was growing and better prices could be had. The Saudi share of the European crude market kept dropping; in 2009 it reached a nadir of 5.9 percent. Russia’s share peaked at 34.8 percent in 2011. In recent years, Saudi Arabia slowly increased its presence, reaching an 8.6-percent share in 2013, but it had never tried its luck in Poland. Like most of central and eastern Europe, Poland has long been a client of Russian oil companies. Last year about three-quarters of its fuel imports came from Russia, with the rest from Kazakhstan and European countries. Poland, however, is at the center of efforts to reduce the European Union’s

dependence on Russian energy. Since Putin annexed Crimea from Ukraine last year, Poland, Ukraine’s neighbor, has increased military expenditures and other efforts to shore up its security. It’s working with its smaller neighbors, too. On Thursday it announced an agreement with Lithuania, Latvia and Estonia to build a natural-gas pipeline to and from the Baltic States, ensuring their future independence from Russian gas supplies. In this context, a new and reliable supplier is a godsend. As for the Saudis, they need to expand outside Asia where demand is falling. The Kremlin and Russian oilmen have long sensed Europe’s appetite for energy diversification and have sought new markets. Until the 2000s, almost all Russian oil exports were to Europe. By last year that share had shrunk to less than two-thirds. In the Asian markets, Russia became a serious competitor to the Saudis. In May, Russian crude supplies to China even temporarily surpassed those of Saudi Arabia. Now that the Saudis are involved in a ruthless price war for market share—not just with US shale oil producers but with all suppliers who

Bukidnon and the Bukidnon Provincial Medical Center; and from Camiguin: Mambajao. From Lanao del Norte: Linamon, Tangkal, Matungao and Pantar; and from Lanao del Sur: Lumbaca Unayan, Lumbatan, Tamparan, Calanogas, Marawi City, Marogong, Mulondo, Madalum, Ditsa-an Ramain and Marantao. From North Cotabato: Antipas, Banisilan, Alamada, Carmen and Cotabato Provincial Hospital; and from South Cotabato: General Santos City. From Misamis Occidental: Don Victoriano Chongbian, Aloran, Calamba and Binuangan; from Sultan Kudarat: Columbio, Lutayan, President Quirino and Sandig Medical Clinic and Hospital; and from Maguindanao: Shariff Saydona Mustapha, Rajah Buayan, Datu Montawal, Northern Kabuntulan and Abdullah Sangki. Other recipients may be added to this list as soon as they complete the documentary requirements that should accompany requests for ambulances. Ambulances may be requested by local government units; national government agencies and governmentowned and -controlled corporations; non-governmental organizations, associations and foundations; government and private hospitals; and state universities and colleges. The full list of requirements may be downloaded at pcso.gov.ph. Atty. Rojas is vice chairman and general manager of the Philippine Charity Sweepstakes Office.

are not members of the Organization of Petroleum Exporting Countries (Opec)—they are moving into Russia’s traditional market. This could turn into a more active shoving match between the world’s two biggest oil exporters, which already are at odds over the Syrian conflict. So far, Opec and the International Energy Agency predict modest demand expansion next year, but if the Chinese economy continues performing worse than expected, that market may become too small for the Russians and the Saudis. Both economies are oil-dependent and retaining market share is a matter of survival. Oil competition is a dangerous undercurrent in Putin’s Middle Eastern policy. The Russian leader hopes that when its ally Iran reenters the global oil and gas market, Russia will somehow share in the profits, perhaps through new pipelines across Syria. He also wants to stop the Saudis from establishing export routes in Syria. Now that Russian energy supremacy in Europe also is at stake, Putin’s determination to resolve the Syrian conflict on his terms can only grow.

Opinion BusinessMirror

opinion@businessmirror.com.ph

Article I: Name that corporation

Traffic! Traffic! Traffic! Marco Fernando L. Ng

Atty. Lorna Patajo-Kapunan

legally speaking

n my long years of law practice, I have been a corporate secretary of so many corporations. Being a corporate secretary has taught me one fundamental precept: corporate identity sets a corporation apart from the others. Of the numerous existing corporations engaged in the same line of business, one has to establish an image in the minds of diverse publics, such as customers, investors and employees that would make the corporation identifiable and remarkable. A corporation, as early as its inception, needs to answer questions as basic as “who we are?” and “what do we do?” in order to facilitate the so-called branding. And how does a corporation concretize the concept of branding at the outset? None other than through a powerful and enduring corporate name.

Well known to most of us, a corporation should have full and complete existence as an entity before it can transact business. The incorporation, which marks the birth of a corporation, is carried out through the filing of the Articles of Incorporation, among other requirements. The Articles of Incorporation of a corporation must, first and foremost, set out the name of the corporation. Section 18 of the Corporation Code of the Philippines establishes a restrictive rule insofar as corporate names are concerned. No corporate name may be allowed if the proposed name is identical or deceptively or confusingly similar to that of any existing corporation or to any other name already protected by law or is patently deceptive, confusing or contrary to existing laws. It is for this reason that prior to incorporation, the Securities and Exchange Commission (SEC) requires the reservation of a corporate name. The initial registration will already give a cue if the corporate name is registrable and if the same is not similar to the name of an existing corporation. The name reservation will provisionally protect the name until the corporation is duly incorporated. A corporation seeking to prevent another corporation from using its name must prove that the corporation has acquired prior right over the use of such corporate name, which is determined by priority of adoption. The dates of incorporation of the companies having confusingly similar names will be considered. The earliest to register its name with the SEC will be prioritized in using such name. Based on Philippine jurisprudence, in determining the existence of confusing similarity in corporate names, the test is whether the similarity is such as to mislead a person using ordinary care and discrimination. In cases decided by the Supreme Court, confusing similarity in corporate names was held to exist if the corporations using the same name are engaged in the same line of business or cater to the same clientele. If a corporate name, however, has been used for so long and exclusively by one corporation and has become associated with that corporation alone in the mind of the public, another corporation cannot register said name as a corporate name. Pursuant to the Revised Guidelines on the Approval of Corporate

and Partnership Names issued by the SEC: 1) a corporate name shall not be identical, misleading or confusingly similar to one already registered by another corporation with the Commission; and 2) the name which contains a word identical to a work of a registered name shall not be allowed if such word is coined or already appropriated by a registered firm, unless there is consent from this registered firm, or the registered firm is one of the stockholders or partners of the entity to be registered. In the case of Lyceum of the Philippines Inc. v Court of Appeals (GR 101897, March 5, 1993), the Supreme Court explained that the purpose of the prohibition under Section 18 are: 1) the avoidance of fraud upon the public, which would have occasion to deal with the entity concerned, 2) the evasion of legal obligations and duties; and 3) the reduction of difficulties of administration and supervision over corporations. Along with the Articles of Incorporation earlier mentioned, a joint affidavit of undertaking to change name to be signed by two or more incorporators has to be submitted to the SEC during the incorporation. In the event of any finding that there exists confusion in the names of two or more corporations, the SEC may direct a corporation to change its name in accordance with the said undertaking. A corporation aggrieved by the subsequent use of its name by another corporation, may pursue a claim with the SEC for the exclusive use of its name, considering that it acquired prior right over its use and the use of such name by another company will, likely, cause confusion to the public. Just like any other invaluable right, the corporate name is a property right, which cannot be impaired or defeated if another corporation will appropriate the same. It is the nature of a right in rem which can be asserted against the world. (Philips Export, B.V. v Court of Appeals, GR 96161, 21 February 1992) A corporate name either stands out or fades out. As the author David Brier creatively puts it: “Branding is the art of differentiation.” Thus, a corporation name must be carefully concocted to set the corporation apart from others. For comments, you may e-mail me at lpkapunan@kapunanlaw.com.

ince time immemorial, Metro Manila has been experiencing daily heavy traffic, especially in its major roads (Edsa, España, C-5, Quezon Avenue, to name a few). Right now, it seems that this is achingly a way of life for all residents in the metropolis.

I could still remember that five years ago, traffic was just limited to rush hours (from 7 to 9 a.m. and 6 to 8 p.m.), but from my recent oneweek stay in Metro Manila, daily trips going to Makati City from Cubao, you would need to at least oneand-a-half hours for the trip! Worse, during my one-week stay in the city, the traffic is not only heavy during rush hours, but all throughout the day. If there’s a thunderstorm, traffic will grind to a halt, literally making Edsa a huge parking lot for all kinds of vehicles. Imagine the loss of unproductive time whenever we get stuck in traffic. For us accountants, this means loss of chargeable hours, delayed submission of work, more overtime, loss of clients, etc. The list can go on and on, but the intangible and most important loss here is the loss for our personal time

arlier this week, the British House of Commons adopted new rules committing the government to running a budget surplus in “normal times.” The vote was widely hailed as a success for Conservative Chancellor of the Exchequer George Osborne—not because it installed a sensible policy but because it pitched the Labor Party and its new leader, Jeremy Corbyn, into an even more laughable state of disarray. Smart politics, you see. But take a moment to note that Osborne’s fiscal charter is nonsense, at best,

and that Corbyn was quite right to oppose it. Also note that Osborne, in pressing this change for merely

for our love ones and ourselves. Even if we implement strict time management, traffic in Metro Manila is already out of control.

Cause and cost

Traffic in Metro Manila is caused by several factors that need government attention. Among the major causes of traffic are: n Inefficient and ineffective mass transportation; n Poorly maintained roads; n Overpopulation of urban areas in Mega Manila; n Rapid development of major cities in Mega Manila; n No alternative mode of private transportation (e.g. bikes, carpools); n Increasing growth of private car usage (including ownership); n Lack of or no strict implementation of traffic laws (no enforcement of the law).

Based on the study done by Japan International Cooperation Agency (Jica), estimated traffic cost per day for Metro Manila could stand at P2.5 billion. The amount would increase to P6 billion per day in 2030 if the government fails to act to improve the current transport infrastructure.

Right path, right plan

In September 2014 the National Economic and Development Authority (Neda) approved the “Roadmap for Transport Infrastructure Development for Metro Manila and Its Surrounding Areas.” http://www.jica.go.jp/philippine/ english/office/topics/news/c8h0vm00008wr871-att/140902_01.pdf This study narrates the need to expand the current road connection of Mega Manila around its neighboring regions, i.e., Region 3 and Region 4A. By expanding this connection, developments on those regions will expand and some of the major causes of traffic in the Mega Manila area would be substantially resolved. In addition, modernization of the traffic management system and discipline in traffic rules will be implemented to ensure that traffic logjam in Metro Manila will be reduced. Improvements on mass transit and road widening and repairs will also be needed to alleviation the worsening traffic in Metro Manila.

Change

By implementing this plan, economic growth within Mega Manila will be sustained, and in addition, economic growth and increase in investments in outer parts of Mega Manila will be experienced. If this comes to fruition, accountants within and outside Mega Manila will also experience a booming business. With the Asean integration just around the corner, the Philippine government needs to put its act together to create the needed change. The funny thing about the current mantra of the government’s “Daang Matuwid” refers to a straight path for government services. Maybe it’s high time for them to really put this mantra into action and start implementing these economic plans. Marco Fernando L. Ng is currently the managing partner of M. Ng & T. Lopez partnership firm, one of the boutique firms in Metro Angeles. Prior to establishing the firm, he had work for three years in New York City with one of the largest auditing firm there that focuses on hedge funds and private equity funds. He had worked with two of the largest auditing firms in the Philippines wherein he was under their respective fraud investigation and dispute services and Assurance services, handling corporate accounts and listed companies.

FDI and the sustainable-development challenge Erik Moeller Nielsen

view from the 19th floor

aced with common global economic, social and environmental challenges, the international community is defining a set of Sustainable Development Goals (SDGs). The SDGs, which are being formulated by the United Nations, together with the widest possible range of stakeholders, are intended to galvanize action worldwide through concrete targets for the 2015-2030 period for poverty reduction, food security, human health and education, climate-change mitigation, and a range of other objectives across economic, social and environmental pillars. The role of the public sector is fundamental and pivotal, while the private-sector contribution is indispensable. The latter can take two main forms, good governance in business practices and investment in sustainable development. Policy coherence is essential in promoting the private sector’s contribution to the SDGs. Estimates for investment needs in developing countries alone range from $3.3 trillion to $4.5 trillion per year, mainly for basic infrastructure (roads, rail and ports; power generation; water and sanitation), food security (agriculture and rural development), climate change mitigation and adaptation, health and education. The SDGs will require a step-change in the levels of both public and private investments in all countries. Today, the participation of the private sector in investment in SDG-related sectors is relatively low. Only a fraction of the assets invested worldwide of banks, pension funds, insurers, foundations and endowments, as well as transnational corporations, is in SDG

Britain’s new fiscal rule is dumb By Clive Crook | Bloomberg View

DEBIT CREDIT

Monday, October 19, 2015 A11

tactical purposes, elevated the goal of embarrassing his flailing opponents over the demands of sound economic policy. So much for the Tories’ claim that they can be trusted with the economy. Corbyn, admittedly, is so clueless that he presents an almost irresistible target. His latest embarrassment is, again, self-inflicted. Labor’s new leaders initially said they’d back the revised charter, because they feared being accused of fiscal

sectors. Their participation is even lower in developing countries, particularly the poorest ones. Increasing the involvement of private investors in SDG-related sectors, many of which are sensitive or of a public service nature, leads to policy dilemmas. Policy-makers need to find the right balance between creating a climate conducive to investment and removing barriers to investment on the other hand, and protecting public interests through regulation on the other. They need to find mechanisms for providing sufficiently attractive returns to private investors, while guaranteeing accessibility and affordability of services for all. And the push for more private investment must be complementary to the parallel push for more public investment. Increasing private investment in SDGs will require leadership at the global level, as well as from national policy-makers to provide guiding principles to deal with policy dilemmas; to set targets. A focused set of action packages

irresponsibility. On further reflection, perhaps emboldened by some newly appointed economic advisers, Corbyn and his Shadow Chancellor decided to oppose it, and told their members of parliament to vote no. The reversal infuriated many of their MPs; 21 defied their instructions and abstained. Corbyn sparks rebellion! Advantage, Osborne! That isn’t the important story. Corbyn and his team have plenty of reckless ideas for

Increasing the involvement of private investors in SDGrelated sectors, many of which are sensitive or of a public service nature, leads to policy dilemmas. Policy-makers need to find the right balance between creating a climate conducive to investment and removing barriers to investment on the other hand, and protecting public interests through regulation on the other. They need to find mechanisms for providing sufficiently attractive returns to private investors, while guaranteeing accessibility and affordability of services for all. And the push for more private investment must be complementary to the parallel push for more public investment.

investment policies is emerging, with governments pursuing a broader and more intricate development policy agenda, while building or maintaining a generally favorable investment climate. “New generation” investment policies place inclusive growth (much-needed in the Philippines) and sustainable development at the heart of efforts to attract and benefit from investments. B r o a d l y, n e w g e n e r a t i o n investment policies strive to: n Create synergies with wider economic development goals or industrial policies, and achieve seamless integration in development strategies; n Foster responsible investor behavior and incorporate principles of CSR; and n Ensure policy effectiveness in their design and implementation and in the institutional environment within which they operate. As indicated above, in the Philippines we have to look at SDG programs and investments that will foster inclusive growth, especially in manufacturing and agriculture. That’s the reason the European Chamber of Commerce in the Philippines (ECCP) is working with LGUs in many parts of the country to discuss supply chains for agricultural products (from the farmer through food production to marketing) in the Philippines, in Asean and in Europe. On the manufacturing side, we are looking at new locations with progressive LGUs, willing to accept new Peza industrial zone models that provide investors with a mid- to long-term policy environment.

can help shape a big push for private investment in sustainable development: A new generation of investment promotion and facilitation, SDG-oriented investment incentives, Regional SDG Investment Compacts, New forms of partnership for SDG investments, Enabling innovative financing mechanisms and a reorientation of financial markets, and Changing the business mind-set and developing SDG investment expertise. Against the background of persistent crises and pressing social and environmental challenges, mobilizing investment and ensuring that it contributes to sustainable development objectives, a new generation of foreign

Erik Moeller Nielsen is the vice president of the ECCP ’s Board of Directors.

economic policy, but opposing the fiscal charter isn’t one of them. Osborne’s rule makes no sense. At best, it’s pointless—so vague, elastic and easily revisable should the occasion arise that it won’t make any difference. But if the rule does turn out to make a difference, constraining fiscal policy in the way it seems intended to, it would be worse than useless. Reducing the burden of public debt over the medium and longer term is an intelligent policy

goal, not least because an effective response to future recessions requires adequate fiscal space—that is, room to push public borrowing back up. But tight fiscal policy in the short term won’t serve that goal if it throttles growth. There’s no need for a surplus if the aim is to bring down the debt ratio. A balanced budget, or even a smallish deficit, will do that over time so long as the economy keeps growing.

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