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BusinessWeek MINDANAO
YOUR LOCAL ONLINE BUSINESS PAPER
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Issue No. 161, Volume III •
Market Indicators
As of 5:57 pm feb. 6, 2013 (Wednesday)
FOREX
PHISIX
US$1 = P40.65
6,431.35 points
X
X
1 cents
39.14 points
Briefly Sultan Kudarat investments up
INVESTMENTS in Sultan Kudarat for the year 2012 increased by as much as 70 percent as compared to the previous year, the Department of Trade and Industry (DTI) said. Nelly Dillera, DTI Sultan Kudarat provincial director, said last year’s investment in the province was pegged at P762.94 million or 70 percent better than the figure in 2011 which was recorded at P570.61 million. Dillera said among the impor tant sectors that generated new and additional investments were expansions in the plantation of coffee, palm oil rubber and banana; expansion in muscovado processing and oil palm processing, and upgrading of bangus fishponds, among others.
M’danao development
THE potential of Mindanao for development makes it a top priority for the government to set its sight on the region for further development, President Benigno S. Aquino III said Tuesday. Speaking before the par ticipants attending the 2013 Philippines Development Forum (PDF) Tuesday at Marco Polo Hotel here, the President said Mindanao has always been known to be the Land of Promise, because of its great potential for growth and development, but unfortunately the region remains untapped. “For the longest time, this potential remained untapped, and its promise, unfulfilled; instead, some parts of Mindanao were known by many for violence, inequality, and corruption in local governance,” he said.
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Gov’t urged to invest in renewable energy By BONG D. FABE, Correspondent
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SWEET DREAM. Despite the hardship, these street children found their comfort for being together. Photo by MIO CADE
Malaysians ready to invest in P23-B projects in Mindanao By CARMELITO Q. FRANCISCO, Correspondent
DAVAO City -- Malaysian businessmen have expressed interest in investing in up to P23 billion worth of projects in Mindanao that could create as many as 100,000 jobs, according to a report by the Mindanao Development Authority (MinDA). The estimate is based on discussions made between MinDA officials and leaders of the Putrajaya Malay Chamber of Commerce that
visited the city in the fourth week of January. The visit was in response to a Mindanao trade mission that went to Malaysia in the second week of December to present potential investment areas in the island. MinDa officials, however, could not provide a timeline on when these potential investments would materialize. The agency, however, noted that among those that
J.P. RIZAL - CRUZ TAAL STS., (NEAR SHANGHAI BAKERY) DIVISORIA, CAGAYAN DE ORO CITY
indicated interest in investing in Mindanao were Tan Chong Group and TC Management Services Corp. Sdn Berhad. “(Tan Chong Group’s) interests are automotive assembly, tourism and consumer products distribution preferably in the Davao Region,” said the agency in its report, a copy of which was obtained by BusinessWeek Mindanao. Another Malaysian company, the Federal Land Development Authority, a crude palm oil proinvest/PAGE 7
S the Philippines continue to suffer from the impacts of climate change brought about by global warming due in part to the country’s extensive use of fossil fuel-based power plants, an environmental group has urged for the immediate switch to renewable energy in consonance with the Republic Act 9513 (Renewable Energy Act) of 2008 and spare the country from further miseries brought about by the impacts of extreme weather events. Switching to renewable energy sources will also spell economic progress as well as save government money, create wealth, generate thousands of jobs, make electricity available and more affordable to all Filipinos, promote national energy independence, and help protect the country from the impacts of climate change, Greenpeace Philippines said. In its report Green is Gold: How Renewable Energy Can Save Us Money and Generate Jobs, Greenpeace scored the government, particularly the Department of Energy (DoE), for its policy that is skewed towards the promotion of climate changing carbon dioxide emitting coal-fired power plants instead of tapping the urged/PAGE 7
WB execs bat for job creation
The lack of employment opportunities continue to be the major roadblock in Mindanao’s development.
DAVAO City -- A top official of the World Bank emphasized the need to meet the challenge to create more jobs to achieve inclusive growth. Motoo Konishi, country director of the WBi explained inclusive growth to mean “creating jobs” which he viewed as the driver of inclusive growth, taking lessons he gleaned from other countries. Konishi anchored his talk on inclusive growth as this year’s PDF banners the theme, “President Aquino’s Social Contract: Moving Forward in job/PAGE 7
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