POLITICS

House Bill (HB) 4995 pending before the House Committee on Government Reorganization, seeks to set the policy for the preservation of water resources in the country, regulate its supply, and devise ways for its safety, protection and preservation. The measure also seeks to rationalize the management of water resources and sanitation through the creation of the Department of Water Resources and Services.

According to Trade Secretary Ramon Lopez, the Philippines will seek to have at least one of its cities included in the United Nations Educational, Scientific and Cultural Organization (UNESCO) Creative Cities Network, with a number of cities across the country seen as a strong candidate to be part of the prestigious list. Cities which have been cited as having a strong potential in becoming part of the UNESCO Creative Cities Network are Baguio, Davao, Angeles, Cebu and a number of cities in Metro Manila.

The Senate is set to work on a measure seeking to create a new executive agency consolidating the Housing and Urban Development Coordinating Council and the Housing and Land Use Regulatory Board under one roof, to be known as the Department of Housing and Urban Development (DHUD).

 BUSINESS

Business optimism in the Philippines soared to a new high seven-year in the first quarter, ranking as the second strongest among 36 economies worldwide. Grant Thornton's International Business Report revealed business leaders in the country are at their most confident in seven years, with optimism rising to a net 98 percent in the first quarter from 56 percent in the same period last year and 80 percent in the fourth quarter of 2016. Based on data available since the fourth quarter of 2010, the highest business optimism which the country recorded prior to the latest results was in the third quarter of 2013, with a net rate of 96 percent. The 98 percent optimism rate of business executives on the country's economy over the next 12 months placed it second behind Indonesia's 100 percent.

Financial market research firm BMI Research said the growth outlook for the Philippine banking sector remains positive, and there are few risks to financial stability over the medium term. Key factors include a strong economic growth outlook, healthy capitalization and liquidity profiles, and ongoing positive structural reforms.

In support of the campaign of the Department of Labor and Employment (DOLE) against all forms of illegal contractualization, telco giants have committed to comply with labor laws and regulations.

Latest data from the ASEAN Automotive Federation showed the Philippine automotive industry's 17.4 percent growth in the first two months was the second fastest increase in the region, next to Myanmar's 35.9 percent year-on- year acceleration. Grant Thornton's International Business Report showed business optimism in the Philippines soared to a new high seven-year in the first quarter, ranking as the second strongest among 36 economies worldwide.

Philippine exports posted an 11-percent increase on total sales of $4.782 billion for the month of February 2017, marking its third month of positive growth.

 ECONOMY

Anchoring on the administration's 10-point agenda, the government formally unveiled "Dutertenomics" earlier this month, an economic and social development blueprint that includes accelerating infrastructure spending, progressive tax reform package, and improved social services and development programs with hopes of reducing poverty, create employment, spur growth in the provinces, and rebuild the country's infrastructure networks.

According to the Asian Development Bank's (ADB) latest estimates, Philippine gross domestic product (GDP) growth will likely ease this year — the only Southeast Asian economy that will do so from 2016 — in the face of external headwinds, but the country will still outperform many in Asia and most regional averages.

World Bank forecasted the Philippines "will remain a top performer" in East Asia and the Pacific, even as it flagged risks that include rising global interest rates that could weaken the peso, crimp capital flows and stoke inflation, as well as fiscal risks as the state ramps up spending while flagship tax reforms aimed at raking in more funds for government struggle through Congress.

Following the release of its World Economic Outlook, IMF Resident Representative for the Philippines Shanaka Jayanath Peiris said they are retaining their 6.8-percent growth forecast for the Philippines this year as the economy is capable of growing by around seven percent over the next two years on the back of robust domestic demand as well as a strong recovery in exports.

 INVESTMENTS

Multilateral development banks (MDBs) – including Manila-based Asian Development Bank (ADB) – have agreed to strengthen their collaboration to attract private sector capital for funding vital infrastructure that will help countries worldwide attain inclusive growth and fulfill their commitments to the Paris climate change pact.

President Rodrigo Duterte brings home P46 billion worth of prospective investments during his six-day Middle East trip to Saudi Arabia, Bahrain, and Qatar during Holy Week. A repatriation program of undocumented and overstaying OFWs were also agreed as well as the signing of several agreements related to cultural exchange, vocational training, and healthcare. Other sectors covered include tourism, agribusiness, manufacturing, and information technology.

The Mindanao Trust Fund (MTF), an 11-year old multi-donor grant facility, receives extension for another two years to sustain ongoing projects instrumental to the peace process in the region. The EU is the largest contributor funding 84 percent of the total fund and in a press statement committed P200 million for peace monitoring and other related efforts.

Bangko Sentral ng Pilipinas reported the FDIs to the Philippines grew more than a tenth annually in January, noting that lending by firms abroad to support operations and expansion of their local units had more than doubled.

 INFRASTRUCTURE

Indeed, the golden age of infrastructure has begun. The administration plans to spend up to P9 trillion on public infrastructure from 2017 to 2022. Moreover, an allocation of P3.6 trillion is proposed for inclusion under the three-year rolling infrastructure plan (TRIP) for 2018 to 2020. Said budget proposal will be used for social infrastructure projects and projects in water resources, energy, information communications technology (ICT), and other sectors.

Plans to connect Mindanao's major cities is already underway as the first phase of the Mindanao Railway project will commence next year, according to the National Economic and Development Authority (NEDA). Malaysia, Japan, and China all expressed interests to fund the construction of the 2,000-kilometer railroad project.

Motorists coming from Manila Port to the North Luzon Expressway (NLEx) may soon expect travel time to take only 10 minutes via the NLEx Harbor Link Segment 10 – a 5.7-kilometer all- elevated expressway targeted to be completed at the end of this year.

The infrastructure arm of San Miguel Corp. (SMC) and state-run Philippine National Construction Corp. (PNCC) have signed an agreement to expand the Metro Manila Skyway Stage 3 and 4 and other projects for P554 billion. SMHC and PNCC are joint venture partners in Citra Central Expressway Corp. and Citra Intercity Tollways Inc., the respective concession companies of Skyway Stages 3 and 4. Under its legislative franchise, PNCC has the authority to construct, maintain and operate the South Luzon Expressway and Skyway Stages 1, 2 and 3.

ENVIRONMENT

The Paris Agreement on climate change officially took effect in the Philippines on April 22, Earth Day. The enforcement comes more than a month after the Senate unanimously voted to ratify the Paris Agreement, which requires participating parties to reduce carbon emissions that contribute to global warming and climate change.

Department of Environment and Natural Resources (DENR) will review the possibility of introducing phytomining in the country. According to experts, this technology exploits mineralized soil that conventional mining methods render uneconomic. Some plants can tolerate and absorb the presence of toxic metal substances on the soil and with the right technology and investment in forest restoration research, according to them, it can lessen the environmental impact used by traditional open-cut mining.

 AGRICULTURE

Agriculture Secretary Piñol mentioned that the agency eyes increased trade and cooperation with Sweden particularly in the field of technology and modernization to help us with agricultural machinery, water drilling equipment and modern communication equipment for farmers.

 TOURISM

The Philippines placed 79 th on The Travel & Tourism Competitiveness Report 2017 of the World Economic Forum and 7 th on the South-East Asian region. The country performs well on its natural resources and high price competitiveness but remained poor on the overall index due to a more restrictive visa policy that reduce tourism activity.

Department of Tourism (DOT) Undersecretary Benito Bengzon Jr. announced in a press conference that foreign tourist arrivals to the Philippines grew by around 11 percent in the first two months of the year to 1.21 million, higher than the global average of around four percent and of than the Asian average of 5.5 percent. Korea, US, China, Japan, and Australia remain the top visitor markets.

Under its fleet-modernization initiative, Philippine Airlines (PAL) will bring in two new Boeing 777-300ERs in December to serve its Manila-London route and other trans-Pacific flights under an agreement with aircraft leasing giant, Intrepid Aviation. Also, the flagship carrier plans to acquire six brand-new Airbus A3350s and eight Airbus A330s.

Gulf carriers Emirates and Etihad Airways are expected to commit direct flights to Davao City after the bilateral air talks between the Philippines and the United Arab Emirates in Cebu.

Cebu Factsheet March 2017

POWER STABILITY IN THE VISAYAS ASSURED. The National Grid Corporation of the Philippines (NGCP) gave assurance that the unstable power supply in Luzon will not have any effect on the power supply in the Visayas even if the two grids are interconnected. Power supply in Luzon became unstable due to tremors felt in Batangas. Rosette Martinez of NGCP Visayas explained that the Visayas has enough power supply and there is no call for any load reduction or similar move. The Visayas Electric Company (VECO) also said that in fact, there is an oversupply of power in the Visayas.

CEBU OPTIMISTIC ABOUT TOURISM DESPITE RECENT CLASHES. The tourism industry in Cebu and other parts of Central Visayas is optimistic about visitor traffic despite recent clashes between members of government forces and Abu Sayyaf Group in Inabanga and Clarin in Bohol. Tourism stakeholders felt the initial effect of the circumstance but as government troops successfully neutralized the terrorist group involved in the Bohol encounters, visitor bookings are starting to pick up.

CEBU CREATIVE COMMUNITY ENCOURAGED TO TAP ONLINE OPPORTUNITIES. Artists and designers have more opportunities to become entrepreneurs by optimizing information technology as there is a growing need for their services from the retail, advertising and marketing sectors. Social media and the internet have provided the necessary platform as local artists and designers who can't find local clients can have clients abroad. John Paul Olivares, a Cebu local artist who specializes on graphic and production design, emphasizes the vast opportunities available online the importance of building a virtual portfolio. Olivares has exhibited his works locally and abroad. He has also worked with several major businesses. He was the speaker in the recent launching of SWU PHINMA's arts and design program for K-12 that introduces an industry-based approach to insure career-ready graduates.

CEBU'S ESL MARKET IS GROWING. Cebu's market for Japanese nationals looking for ways to study English as a second language (ESL) is growing. Before, individual students would come to Cebu and study the language. Now, more Japanese families are expected to stay in Cebu to learn English. Aside from Japanese, Koreans also come to Cebu to study English. In 2015, DOT 7 projected that the number of Japanese visitors will outnumber Korean travellers in two years as the ESL facilities in Cebu are specifically targeting Japanese market.

DUTY FREE OPENS NEWEST BOUTIQUE OUTLET IN MACTAN AIRPORT. In response to the growing number of foreign tourists visiting Cebu, Duty Free Philippines (DFP) recently opened a "destination boutique" at the Mactan International Airport (MCIA) featuring the region's best local products. DFP is state owned. Records from the Department of Tourism (DOT) in Central Visayas revealed that Korean visitors top the tourist arrivals in Cebu and most of them look for local products. DFP carries high-quality locally made souvenir, gift and food items that cater to outbound shopping needs of international travelers.

CHOCOLATE CHAMBER EXPANDS CHOCOLATE BUSINESS. Cebu's chocolate queen Raquel Choa of The Chocolate Chamber (TCC) expands her business by including two additional business ventures: the Chocolate Tour and the mass-oriented retail brand Batirol. The Chocolate Tour consists of three parts, namely: the chocolate journey, which is a short talk on cacao and how tablea is made; the cholocate stops, which are done in TCC stores; and the 1521 high tea, which is a showcase of the sweet and savory side of chocolate done at 3:21 in the afternoon. Batirol will have the to-go kiosk concept and will be selling sikwate and cupcakes made from tablea. TCC is also launching the "House of Maria Cacao" at the Marco Polo Plaza Cebu to curate cacao-themed products highlighting the entrepreneurial and creative spirit of women. Raquel stressed that "the chocolate journey highlights the Filipinos' rich tradition of tablea making and how these pure tablets evolved as an essential culinary ingredient."

CONSOLACION ATTRACTS INVESTORS. The Municipality of Consolacion is getting more attractive to investors because of its strategic location. The Cebu northern town, which is a neighbor of Mandaue City and very close to Cebu City, is a "natural expansion site" for possible investors. This was highlighted by Roy Soledad, head of the Cebu Investment Promotions Office (CIPO). He said there is a lot of room for growth in the town as it still has unused spaces and the prices of land are still not as expensive compared to Cebu or Mandaue. Soledad said that of its 4,000-hectare land area, Consolacion still has 200 hectares that can be used for industrial purposes. One upcoming project that is expected to propel economic growth in the town is the new multi-billion peso international container port project located in Barangay Tayud.

BALAMBAN PREPARED TO EMBRACE OTHER INDUSTRIES. Balamban, the shipbuilding capital of the Philippines, is shifting its focus on other economic drivers and welcomes investors in the areas of real estate and agro-tourism. The town, which is 63.9 kilometers west of Cebu City, is home to internationally recognized shipbuilders such as Austal Philippines Pty Ltd and Tsuneishi Heavy Industries (Cebu) Inc. The Cebu Investments Promotions Office (CIPO) explained that these companies can no longer expand at present because of constraints in space. However, Balamban has a huge potential for subdivisions, other housing projects, and retirement homes as it is a combination of flat, hilly and mountainous areas. The municipality already has an existing economic investment and incentives code and an economic investment and incentives center whose creation was specified in the code.

Davao Factsheet March 2017

Investors want to venture in Tawi-tawi ecozone

MinDa (Mindanao Development Authority) Secretary Datu Abul Khayr D. Alonto has duly noted that investors are mostly from European Union and other Asian countries. The project on creating an ecozone in Tawi-tawi will be spearheaded by MinDa, PEZA (Philippine Economic Zone Authority) and National Security Council, along with the collaboration of interested parties. The project consists of building shipyards and industrial parks in the hope of fulfilling the plan to establish seven ecozones in ARMM (Administrative Region of Muslim Mindanao) by 2020. Though, currently, there is one economic zone in ARMM in Parang, Maguindanao, a Tawi-tawi ecozone aims to have a direct sea linkage between Tawi-tawi, Philippines and Bandung, Indonesia as this linkage will act as a hub for transhipment. Generally, this project is receiving positive feedbacks as Pres. Duterte himself has approved this economic zone project.

AZALEA eyes expansion in Davao

Premium hotel and accommodation firm, AZALEA Hotels and Residences, plans to expand in Davao City to accommodate the increasing number of tourists as concretized by the data of Davao City Tourism Operations Office (CTOO). Azalea Group marketing communications manager, Adrian Ramirez, has stated that the plan is still being finalized with the initial time frame of 2-3 years for the project to be realized. The plan is in line with the hotel's vision of providing comfort and convenience to tourists in key destinations in the Philippines. It has already achieved such in Baguio and Aklan (Boracay) and is planning to extend such vision in Davao City, together with Cebu City and Pampanga (Angeles). AZALEA is known for its world-class standard towards services and services such as modern-day amenities. With this, it has established its place among the biggest players in regards to hotel and accommodation services.

Duterte-Carpio to focus on MSME development

Davao City Mayor Duterte-Carpio said that she will focus on aiding MSMEs (micro, small and medium enterprises) as they comprise the bulk of the economy sector in the city. Moreover, the government is working together with DCCCII (Davao City Chamber of Commerce and Industry Inc.) in the hopes of making the city more business-friendly particularly towards the MSMEs. Individually speaking, though MSMEs may look insignificantly small compared to other major business players, they are actually bigger if combined. The Mayor has stated that the government wants the sustainability of MSMEs to extend short-term to long-term. As there is an increase in the number of MSMEs, it indicates an increase in the interest for a more robust Davao economy. Moreover, DCIPC (Davao City Investment and Promotion Center) head Lemuel Ortonio said that increase number of businesses reflects increase capitalization. In addition, DCCCII president Captain Ronald Go has expressed advocating entrepreneurship can build for a better Davao because it creates a better economy due to the creation and provision of more jobs to the people. With this, DTI Davao is preparing to assist 10,500 MSMEs in the region in 2017, an increase of about 1,000 from 2016's projection

Malagos chocolate bar upgrading continues

With the international recognition of Malagos Agri-Ventures Corporation, it is continuing its development. The Malagos chocolate bar has entered into the Single Origin: Tree to Bar Category. According to Malagos Agri-Ventures Corporation sales and marketing head Rex Victor Puentespina, the Malagos chocolate drink has received generous recognition with 2 silver and one bronze awards from international awards. Puentespina said that Japan continues to be the leading exporter of their products. In addition, they have been starting also exporting to Thailand recently. Moreover, Singapore's tough market has also been accommodating Davao-based Malagos products. The marketing head has affirmed how the international market loves pure chocolate. He also noted the need for such purity, meaning not much on sugar but rather on cocoa, as this maintains the genuineness of the flavour of chocolates. Despite such recognitions and acknowledgements by the international market, he has asserted that they are still struggling penetrating the domestic market and competing due to the presence and dominance of cheaper chocolate brands. Thus, innovation and improvement is a must.

DMCI Homes is Davao's best developer

DMCI Homes, creator of Verdon Parc, has been recognized at the Dot Property Philippines Awards 2017 as Best Developer in Davao City for its first development in Mindanao. Verdon Parc is located along the Ecoland Drive corner Peacock Street. It is a 3-hectare development with 1 mid-rise building and 3 high-rise towers. Along with these, it has 1st class amenities and ornate greenery. DMCI is Philippine's first Quadruple A builder developer. The said awards forms the largest property portal. It has recognized Verdon Parc for it has brought high standards and core values to the city's budding real estate market.

Revitalizing Davao's seaweed industry

The DA (Department of Agriculture) looks through the revitalization of the seaweed industry in Davao. BFAR (Bureau of Fisheries and Aquatic Resources) has been conducting activities particularly in Tibungco in support of DA's campaign. This is in connection to ASEAN's aims of bringing aquacultures to the ASEAN and global market. National Seaweed Coordinator Irma F. Ortiz has expressed BFAR's targets to increase seaweed production to 5% annually from the year 2017 to 2022. In addition, Agriculture Secretary Manny Piñol decided that a seaweed roadmap be made to give a clearer vision for the National Seaweed Program. Moreover, Ocean Harvest Technology Ltd (OHT) Quality and Resource Manager Dr. Simon Faulkner proposed that they will buy ulva or sea lettuce, which will then be exported to Thailand. In fulfilment of the said campaign, BFAR will launch programs. The first focuses on production of climate-resilient species. The second focuses on how to grow good seaweeds for viable markets is conducted before the beneficiaries are given the planting materials. Consequently, Tibungco remains to be the community that BFAR eyes to develop into a seaweed production champion.

Tagum farmers want to break free from Lapanday, sell bananas to other buyers

Farmers in Tagum City namely from the Madaum Agrarian Reform Beneficiaries Association Inc. (MARBAI) have been meaning to sell their bananas to other buyers rather than Lapanday. Lapanday Foods Corporation, previously known as the Global Fruits Corporation, had a Deed of Assignment with Hijo Plantation Inc. (HPI). The two parties also signed the Banana Sales and Marketing Agreement, a 10-year agreement in December 1998. In October 1996, 567 farmers of the HPI were given land ownership thru the collective Certificate of Land Ownership Award under the Comprehensive Agrarian Reform Program. Such long-term contract has created misunderstandings and mistreatments from the Lapanday Foods Corporation, as the vice chairperson of MARBAI, Salvador Barcebal, has expressed. For instance while the running market price reaches USD3-4/box, Lapanday is only giving them a meagre amount of P2.10/box with 13.4 kilograms of Cavendish bananas. Such circumstance has caused farmers to bring home P92, sometimes, P100 if lucky. Furthermore, benefits were not remitted to the farmers by the said food corporation. Another thing is the unceasing increase of their debts in spite of their regular payments. Due to this, it has created a faction in MARBAI which is now divided into two, one voting for still working with Lapanday, while the other half is voting no. The ones who voted no plans to find other buyers that can support them. Moreover, they are not interested to engage in long-term contracts so that if ever there will be changes, a new contract can be made. Danilo Ramos, secretary general of UMA (Unyon ng mga Manggagawang Agrikultura) characterized this incident as similar to the situation of the farmers in Hacienda Luisita, Tarlac. Legitimization of land grabbing and unfair labour practices are prevalent. Correspondingly, making the farmworkers to be in control; however, is actually not the case for they would end up with no land and maltreated.

6 new foreign investors eye Davao for shipbuilding, housing

In a press conference, DCIPC (Davao City Investments and Promotion Center) Acting Head Lemuel Ortonio has revealed that there are 6 foreign investors who are interested in investing in Davao City. There are 2 Chinese investors that are considering construction projects such as socialized housing investments, hotels and convention centres. Apparently, the city is need of such as there are numerous foreign delegations attending the varying ASEAN activities. Besides the Chinese investors, there are two investors coming from Japan who are interested in administering healthcare. This is with the collaboration with the local government and private sector.

Additionally, there is a Korean investor who is looking into shipbuilding. As for agri-business, a Malaysian investor is examining it.

It is to be noted of how these investments fall into the category of priority areas of Davao City namely marketing, tourism, and recreational centres. Essentially, there are investments that are interested in penetrating the city so DCIPC is doing efforts to cater these, as well as, manage its aftermath. For example, it is updating the local taxing scheme and incentives. Equally important, big colleges from Metro Manila are being constructed in Davao City. For instance, Mapua Institute of Technology, Lyceum of the Philippines University, and the Colegio de San Juan de Letran. Generally, investments are pouring in and DCIPC is looking into it.

Mati City road project to link villages to market

Davao Oriental Gov. Nelson Dayanghirang revealed that a road project with a budget of P246 million will connect 4 barangays namely Culian, Sanghay, Libudon and Danao to the market centres. These are said to be remote barangays, thus, there is a difficulty in reaching them. In addition, a project with a budget of P86 million will be allocated for the project on road concreting. In effect, these will help the residents in bringing agricultural products to the market centres. Also, these will give the government easy access to the barangays for the delivery of services. The projects are expected to be finished this year.

PEZA readies power subsidy for Arab firms in Mindanao

PEZA (Philippine Economic Zone Authority) is preparing for the subsidy of power in Mindanao especially in Davao, ARMM & Caraga regions from Arab firms. PEZA Director General Charito Plaza has stated that businesses from Middle East are looking at investments in Mindanao. This is following the investment of Philippine President Duterte in the Gulf region. The Middle East investors prefer the three mention regions as these are majority populated by Muslims. Investors would like to aid Filipino Muslim in Mindanao. Coupled with power subsidy is the interest on investing in tourism, agro-industry and Halal. The power subsidy will espouse other foreign investors in putting up businesses in Mindanao. The DOE (Department of Energy) has stated that people in Mindanao will only need to pay P2.50 per kilowatt hour in lieu of P6 per kilowatt hour. Such initiative is in line with President Duterte's efforts of spiking up economic growth.

CDO Factsheet March 2017

CDO CITY GOVERNMENT ALLOCATES P3 MILLION FOR THE DEVELOPMENT OF THE FOOD CART INDUSTRY.

The Cagayan de Oro City Government has allocated P3 million for the development of the food cart industry in the city. The City Government, through the City Social Welfare and Development Office (CSWD) and City Poverty Reduction Team, identified some 67 beneficiaries who are vendors from Cogon and Carmen markets, and even vendors in the Divisoria area. CSWD chief Teddy Sabuga-a said part of the package is the distribution of new food carts to the vendors, to replace their old wooden carts. Vendors must also undergo a seminar first to know the proper conduct of selling in the streets, and remind them of the right time when they are allowed to display.

SAN MIGUEL CORP GROUND BREAKS NEW BREWERY IN MISAMIS ORIENTAL

San Miguel Corp. (SMC) held a ground breaking ceremony for its new three million hectoliter brewery inside the Phividec Industrial Estate in Misamis Oriental. It will be its second brewery in Mindanao. the brewery will rise at the 50-hectare lot in Cagayan De Oro. Initial articles revealed the brewery will have an initial capacity of 1.5 million hectoliters. The project is expected to provide more job opportunities as well as additional downstream investment opportunities for local businesses.

26TH MINDANAO BUSINESS CONFERENCE (MINBIZCON) TO BE HELD ON SEPTEMBER 7-9, 2017 IN CAGAYAN DE ORO

Close to 1,000 business executives, investors, industry players, policy makers, micro, small and medium enterprises (MSMEs) are expected to attend this year's business conference in Cagayan De Oro with the theme: "Emerging Opportunities – ONE MINDANAO." Mindanao Business Conference or Minbizcon is considered the largest annual gathering of business leaders, policy makers, stakeholders and professionals both from government and private sectors to advocate policy issues and concerns through consultation and adoption of resolutions affecting business in Mindanao.

Invited as keynote speaker is no less than the President of the Republic of the Philippines, President Rodrigo R. Duterte.

MISOR PUBLIC-PRIVATE-PARTNERSHIP CODE GETS NOD

The Provincial Government of Misamis Oriental can now officially start discussions with probable investors of the Cagayan De Oro as the Provincial Board has recently approved the Public-Private-Partnership ordinance. This will serve as a guide for the province when dealing with private companies. This was brought about when several private companies expressed interest of the prime properties of the capitol.

CAGAYAN DE ORO-CLARK FLIGHTS TO START IN JUNE 2017

Flag-carrier Philippine Airlines is set to start flights from Clark to Cagayan de Oro and back on June 23, 2017. PAL will have four flights weekly (Monday-Wednesday, Friday, Sunday) serving the Clark-Cagayan de Oro-Clark route. PR 859 departs Clark at 6:30am and arrives at CDO (Laguindingan) at 8:10am or a travel time of 1 hour and 40 minutes. The return flight to Clark leaves at 8:50am.

CUSTOMS IN CDO PORT EARNS P1.266 BILLION IN MARCH 2017

The Port of Cagayan de Oro is among five ports in the country with over a billion pesos worth of collection from revenues, taxes and fees for the month of March 2017. The Port of Cagayan de Oro raked in P1.266 billion or 44 percent more than the target of P879.3 million based on latest collection data from the Bureau of Customs (BOC). The BOC in the city's port continue to enjoy high collection rates with intensified anti-smuggling operations.

EAGLE CEMENT TO BUILD MARINE TERMINAL IN CDO

Eagle Cement Corporation (ECC) of tycoon Ramon Ang will be expanding in Mindanao including a planned marine terminal in Cagayan de Oro as part of its aggressive expansion plans. The company is looking to raise P7.2 billion from its planned initial public offering (IPO) to fund its expansion. Since it began commercial operations in 2010, ECC is now the country's fourth largest player in the cement industry.

FIRM EYES BIOMASS EXPORT FACILITY IN MISOR

Renewable energy firm Mackay Green Energy is planning to put up a biomass processing plant in Tagoloan, Misamis Oriental to handle bana grass for export as an alternative source of energy. The firm disclosed it has developed technologies to convert bana grass, a variety of grass that can be converted to fuel found to be superior to fossil- based coal and can be mixed with coal for power generation. Mackay currently has vast bana grass plantations in the Caraga Region with the collected biomass (bana grass) to be processed in Butuan and in Misamis Oriental. Accordingly, the firm has received inquiries from Malaysia, India and Africa.

ABOITIZLAND EYEING PROPERTY DEVELOPMENT IN CAGAYAN DE ORO

AboitizLand Inc., the real estate arm of the Aboitiz Group is looking to develop sites in Cagayan de Oro and other areas as part of its aggressive expansion and land acquisition in the near future. The disclosure was made by Rafael Fernandez de Mesa, AboitizLand first vice president of operations as the firm prepares for tomorrow's launching of 'Seafront Residences', its first development project in Luzon located in San Juan, Batangas. In its more than 20 years of operations, AboitizLand's development has been concentrated in Cebu but is now slowly expanding to the Visayas, Mindanao and Luzon.