BWM March 22-23 2013

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BusinessWeek MINDANAO

YOUR LOCAL ONLINE BUSINESS PAPER

www.businessweekmindanao.com

Issue No. 179, Volume III •

Market Indicators

AS OF 5:56 PM MAR. 20, 2013 (Wednesday)

FOREX

PHISIX

US$1 = P40.73

6,419.62 points

X

X

4 cents

6.63 points

Briefly Tourism roads

DAVAO City -- The Davao Region is getting the biggest chunk of the tourism roads project for 2013. Based on Department of Tourism (DOT) figures, Region XI was allotted P1.4 billion from the P11.8 billion Tourism Road Infrastructure Program (TRIP) budget. It got the biggest share among other regions. “The Provincial Tourism Officers, Provincial Planning Officers have submitted many proposals, we vetted it and submitted it to Manila,” Art Boncato, regional director DOT-XI said of the huge share the region got from the first convergence project between the DOT and the Department of Public Works and Highways. “The DPWH has also been very good in evaluating our projects,” Boncato cited the support given by the DPWH office in the region. committee wants to cap,” she said in a telephone interview.

Cagayan de Oro City

Friday-Saturday

SOON

March 22-23, 2013

P15.00

Palm oil congress sets eye on foreign investors By CHENG ORDONEZ, Associate Editor

T

HE 8th National Palm Oil Congress set on April 18-19 in Cagayan de Oro City is set to tackle concerns aimed to lure foreign investments in the country’s palm oil industry. Organized by the Philippine Palmoil Development Council, Inc. (PPDCI), the said congress will carry the theme, “Utilizing Unproductive Lands and Promot-

ing Economic Stability Thru Investments in the Palm Oil Industry.” Touted as the biggest gathering of the local palm oil stakeholders, this year’s

palm oil congress will be supported by the City Government of Cagayan de Oro, A Brown Energy and Resources Development, Inc. (ABERDI), API Group of Companies, Kenram Industrial Development, Inc. (KIDI), Filipinas Palmoil Plantation, Inc. (FPPI), Land Bank of the Philippines (LBP), Depart-

ment of Agriculture (DA) and other major industry players, with the support from the Department of Trade and Industry, Regional Board of Investments, Philippine Coconut Authority-PODO, Department of Tourism, Department of Land Reform, Department of Environment and Natural Resources and

other stakeholders. PPDCI, in its website, said the gathering will be a venue for industry players to know the latest updates on the state of the Philippine palm oil industry, development initiatives, technological advances, banking support, local and international trends PALM OIL/PAGE 7

AboitizPower power barge bogs down By NELSON V. CONSTANTINO Editor-in-Chief

Tax campaign

BUTUAN City– An estimated crowd of 600 convened recently at the Almont Hotel’s Inland Resort here for this year’s Tax Campaign of the Bureau of Internal Revenue (BIR). BIR-Caraga Regional Director Atty. Norberto Vitug welcomed the different sectors from the provinces of Caraga who attended the kick-off ceremony. Dir. Lucita Rodriguez, BIR Assistant Commissioner for Taxpayers Assistance Service is the guest speaker of said activity. Dir. Vitug urged all individuals to file their taxes before the deadline which is on March 15 while for the business/corporate sector on April 15. Vitug also stressed the importance of paying taxes. “It will benefit us all,” he said.

WE’RE GOING

LOOKING FOR GOLD. Small-scale miners gather around a stream to look for gold in Sitio Cacao in Barangay Mat-i, Surigao City on Saturday, March 9, 2013. Miners have intruded the Parang-Parang watershed, the only source of potable water in Surigao City. MindaNews photo by ROEL CATOTO

DOT-10 pushes for MICE in CdeO

ONE of the two barges by the Therma Marine Inc. (TMI) earlier reported to be running uninterrupted to help ease the current power deficiency in Mindanao has bogged down due to technical problems, a company statement said yesterday. But TMI President Jovy P. Batiquin said only one of the 50-megawatt generators of the company’s 100-megawatt power barge moored in Maco, Compostela Valley developed technical problems as early as March 18, 2013. Batiquin said the problem requires the unit to be shutdown indefinitely for repairs to prevent further damage to the unit. The generator had ABOITIZ/PAGE 7

By JASPER MARIE OBLINA-RUCAT, Contributor

The Department of Tourism (DOT) region 10 will push for MICE or Meetings, Incentives, Conference and Exhibitions to gain tour-

ists in the city and entire Northern Mindanao in the coming years. DOT region 10 director Catalino E. Chan III said

J.P. RIZAL - CRUZ TAAL STS., (NEAR SHANGHAI BAKERY) DIVISORIA, CAGAYAN DE ORO CITY

the Philippines increased in international tourist arrivals by 9.12% with over five million coming in compared to over four million of foreign arrivals in 2010. Additionally, more than half or 61.5% of these come from the Asia Pacific region as documented in the 2010 profile of international tourists. Top in the list is Korea by 21%, United States of America (USA) by 17% and Japan by 10%. DOT-10/PAGE 7

GRADUATION TIME. A vendor sells garlands for families of graduating students in Kidapawan City on March 19. MindaNews photo by GEONARRI SOLMERANO

Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776


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