BUSINESSWEEK MINDANAO SEPT.24,2012

Page 1

BusinessWeek

YOUR LOCAL ONLINE BUSINESS PAPER

www.businessweekmindanao.com Issue No. 110, Volume III • Sept. 24-27, 2012

Market Indicators AS OF 5:52 PM SEPT. 21, 2012

FOREX

PHISIX

US$1 = P41.66

5,292.06

2.91 points

;

; Briefly 10 cents

Simplified registration

THE Board of Investments (BOI) is taking a step to simplify and improve the procedures in investment registration. “The BOI has taken a paradigm shift in terms of its registration process from being very strict into easy and simple,” said BOI Governor Oliver B. Butalid in an investment roadshow held in the city. He said the BOI will no longer require the applicant to submit detailed five-year financial projections. According to Butalid, the applicants need only to accomplish the four-page application form: one page for information and the other three pages for fill-in-the blank tables as supporting schedules.

Economic outlook

ZAMBOANGA City -- The economic outlook of Zamboanga Peninsula remains positive, an official of the Bangko Sentral ng Pilipinas (BSP) said. Ms. Teresita B. Deveza, Acting Deputy Director of the Department of Economic Statistics of the BSP said the region manifested stable and positive economic outlook based on five development indicators; population and employment, economic growth and prices financial resources, investments and income of the top corporations, and business expectation. In her presentation during the 2012 Awards Ceremony and Appreciation Lunch for BSP Stakeholders in Region 9 Tuesday, Deveza said Mindanao as a whole has posted 3.2% increase in the gross domestic product last year, close to the 3.9% national increase.

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NEDA submits Mindanao power concerns to PNoy By IRENE DOMINGO, Reporter and RUTCHIE CABAHUG-AGUHOB, Contributor

T

HE National Economic Development Authority (NEDA) in northern Mindanao has put the privatization of Agus hydro-electric complex as top priority among the major concerns that they submitted to Malacañang to resolve the power crisis in Mindanao.

Engineer Jaime H. Pacampara, chief economic development specialist of NEDA-10 and Infrastructure and Utilities Committee (Infracom) coordinator of the Regional Development Council-10, said at least nine issues and concerns on the Mindanao power situation were already submitted to President Aquino for appropriate action. During its third quarter meeting held at the NEDA-10 conference room in Cagayan de Oro City, Mayor Nova Princess E. Parojinog-Echavez, chairperson of the Infracom, said the power concerns were gathered by NEDA-11, which acted as the secretariat of the Mindanao Power Summit held during the second quarter. She said that these issues and concerns carried with them the corresponding recCHILD LABOR. Two kids push their cart across a busy city street to make a living. More and more young children are forced to work by their parents in the Philippines due to lack of economic op- ommendations and solutions. portunities. PHOTO BY MIO CADE NEDA/PAGE 6

Primavera Residences opens new office and model unit Cagayan de Oro City’s premier condominium development has moved to its new office in the 2nd floor of Primavera Residences Tower A at the Pueblo de Oro Business Park. “We have moved into the Primavera Residences Tower A to better serve our clients,” said Ms. Andi Ramos, Vice President for Operations of Italpinas Euroasian Design and Eco-Development Corporation, owner and developer of

Primavera Residences. “We have also moved our showroom to Unit 605 of Tower A to integrate all our operations into one location.” The turnover of completed units in Tower A following the release of the Occupancy Permit and the introduction of Globalland Property Management Inc. to provide unit owners integrated property management services with a full menu of PRIMAVERA/PAGE 6

Ms. Greanne Trisha Mendoza, Ms. Kagay-an 2012 and also Ms. Primavera, graces the new model unit of the Primavera Residences at the Pueblo de Oro Business Park, Cagayan de Oro City.

HULA KO,Kalasahan KO, Kalasahan ko. HULA KO,Tabangan ko. ( I Love my town. I will help my town.)

Businessman Hadar M. Hajiri-Al-Haj took his oath as member of PDP-LABAN-UNA before its secretary General Peping Cojuangco last September 10, 2012. Manila (P.R.)


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