Tag Archives: Business News

BARMM lures investors to 5,000-hectare banana farm area

COTABATO CITY – Model banana farms are soon to sprout in about 5,000 hectares in a special geographic area (SGA) of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) in North Cotabato province.

VENTURE. RBOI-BARMM Chairman Ishak Mastura (left) and BTA Parliament Member Suharto Ambolodto (2nd from left) show the MOA they inked with local investors over the weekend for the establishment of a 5,000-hectare banana plantation in Kabacan, North Cotabato. The plantation will be set up in adjoining villages under the BARMM in Kabacan town. (Photo courtesy of BOI-BARMM)

Bangsamoro Transition Authority (BTA) – BARMM Member of Parliament Suharto Ambolodto said Tuesday the project aimed to alleviate the lives of farmers and to encourage more local businessmen to pour in capital.

“This activity is mainly to look upon the opportunities of local entrepreneurs to invest here since they would be investing for the future of our Bangsamoro people,” he said.

The SGA comprises the 63 villages in six towns of North Cotabato that opted to join the BARMM during the two-part plebiscite held in January and February 2019.

Ambolodto said the signing of a memorandum of agreement with local investors further bolstered the endeavor with the initial set up of a banana plantation in a combined 5,000 hectares of farmlands in villages under the SGA in Kabacan.

Regional Board of Investments (RBOI) – BARMM Chairman Ishak Mastura said his office would facilitate the farmers’ link to the investors in terms of profit sharing and other concerns.

“We also need to link the farmers to local investors, not only in the government programs or services but also to private sectors that would give them direct assistance to start-up investments immediately in our region,” he said.

In a separate statement, RBOI Board of Governor Mohammad Pasigan said their office has been reaching out to farmers and local investors to expose them to investment opportunities in the region.

“The RBOI has even helped them connect to the tie-up ‘Harvest Program’ of Japan International Cooperation Agency and Land Bank of the Philippines that could fund both farmers and local investors on livelihood assistance through very reasonable forms of loan,” he said.

Local investors who signed the MOA were Engr. Kaiser Usman of Usman Banana Plantation in Matanog, Maguindanao and Datu Jabib Guiabar of Kabacan.

To drumbeat the initiative, both businessmen encouraged other local investors to do business in the region and help uplift BARMM’s economy.

“We are expecting to plant Cardava banana in the SGA to a farmland area of some 5,000 hectares,” Guiabar said. (PNA)

Davao City forms anti-red tape body

 June 8, 2021

DAVAO CITY – Mayor Sara Z. Duterte created the Committee on Anti-Red Tape (CART) to help expedite business and non-business-related transactions in the city.In a statement Tuesday, the City Information Office said Duterte issued Executive Order (EO) No. 32, series of 2021, known as “An… Read More

8 LARGE BUSINESS GROUPS JOIN GOVT IN CONDEMNING CHINA IN WEST PHILIPPINE SEA

“If one day China should change her color and turn into a superpower, if she too should play the tyrant in the world and everywhere subject others to her bullying, aggression, and exploitation, the people of the world should expose it, oppose it, and work together with the Chinese people to overthrow it.”

With this quote from former Chinese leader Deng Xiaoping, eight groups of Filipino businessmen  have joined the Philippine government condemnation of China’s occupation of Julian Felipe Reef, which is located within the Philippines’ exclusive economic zone, in the West Philippine Sea.

The business groups are the Philippine Chamber of Commerce and Industry, Management Association of the Philippines, Makati Business Club, Bishops-Businessmen’s Conference for Human Development, Filipina CEO Circle, Judicial Reform Institute, Cebu Business Club, and Iloilo Business Club .

The business groups, in a strongly worded statement on April 14, urged China to respect the Philippines’ sovereignty.

The groups also echoed the government’s call for China to withdraw its vessels from Julian Felipe Reef.

“Julian Felipe Reef is historically and by law undisputed Philippine territory, as was most clearly established in the 2016 ruling based on the UN Convention on the Law of the Sea. Our exclusive right over the Julian Felipe Reef carries with it the utilization of, and the obligation to protect, its economic benefits, such as its rich marine life and mineral deposits, for the well-being of each and every Filipino,” the groups said.

Deng Xiaoping - Quotes, Reforms & Tiananmen Square - Biography

“In 1974, Deng Xiaoping said, ‘If one day China should change her color and turn into a superpower, if she too should play the tyrant in the world and everywhere subject others to her bullying, aggression, and exploitation, the people of the world should expose it, oppose it, and work together with the Chinese people to overthrow it,'” said the group. Read More WEST PHILIPPINE SEA

TAX CUTS in CREATE Act to attract more investments

 

May be an image of outdoors

Duterte signs bill into law

 March 26, 2021

MANILA – President Rodrigo Duterte has signed into law the proposed Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act to attract more investments and maintain fiscal prudence and stability.Duterte signed on Friday Republic Act (RA) 11534 or the CREATE Act which introduces… Read More

But vetoes 9 items

 March 27, 2021

MANILA – President Rodrigo Duterte has vetoed nine items in the new Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act to ensure it would serve its purpose as a fiscal relief and recovery measure for Filipino businesses affected by the pandemic.In a statement issued Friday… Read More

DUTERTE approves lifting of oil exploration moratorium in WPS

Lifting of suspension to infuse economy with fresh foreign direct investments and generate high-skills jobs

 President Rodrigo Duterte has approved the recommendation of the Department of Energy (DOE) to lift the suspension of petroleum activities in the West Philippine Sea (WPS). “I thank the President for approving the DOE recommendation. We need to explore so we may address the… Read More

President Aquino amenable to P40-billion sin tax revenue

VIENTIANE, Lao People’s Democratic Republic, Nov. 6 (PNA/via PLDT/Smart) -– President Benigno S. Aquino III said on Monday that he is amenable to the lowering of the revenues to be generated by the Sin Tax measure at P40 billion but would be “happier” if it remained at the proposed P60-billion mark.

The President said that although the proposed original amount had been downsized, his government could still use the new amount to manage the deficit and fund healthcare programs.

“Mabuti sana kung 60 magagamit ng healthcare programs. For 40, I think, is also a good number,” the President said.

“At 40, we’re happy. At 60, we’ll be happier. For 40 is already, I think, sufficient to meet the objectives both in terms of gaining more resources, managing the deficit but most importantly addressing the health issues. Most of the funds that will be generated are earmarked for supporting our health program,” he added.

The money to be collected from sin taxes will be spent in building more health facilities, rural health units, district hospitals, and other facilities and will also be used for premiums for the expanded coverage of PhilHealth, the State’s healthcare insurance program. (PNA)