POLITICS

The House of Representative’s Committee on Population approved House Bill No. 12 or the Filipino Identification System (FilSys). The bill seeks to institutionalize a single national ID system that will serve as proof of identification eligible for government and private use. According to the proposed measure, a Common Reference Number (CRN) will be included aside from personal details.

After its mass unveiling to local stakeholders, President Rodrigo Duterte pitched the administration’s ambitious socioeconomic development blueprint dubbed “Dutertenomics” at the World Economic Forum for Association of Southeast Asian Nations (WEF-ASEAN) in Cambodia. Administration officials hopes to attract foreign investors to accelerate its infrastructure projects, provide employment opportunities, and combat poverty as well as corruption.

Republic Act No. 10913 or the Anti-Distracted Driving Act took effect later this month with its implementing rules and regulations (IRR) subsequently published. Under the law, using electronic devices and doing activities which removes the driver’s attention to the road is not allowed except in certain cases. Objects that obstruct the driver’s line of sight is also prohibited. It applies to almost every single mode of land transportation. The language of the law, however, raised eyebrows that passenger safety groups and solons called for the Land Transportation Office (LTO) to set clear the guidelines to avoid confusion for the motorists or suspend the rules itself.

Career central banker Nestor Espenilla, Jr. has been appointed as next governor of Bangko Sentral ng Pilipinas (BSP) from a roster of other insiders which include colleague Diwa Guinigundo and EastWest president Antonio Moncupa Jr. Espenilla is the deputy governor for supervision and will replace incumbent Amando M. Tetangco Jr. whose term will end on July 2, 2017.

 BUSINESS

Switzerland’s global investment management firm Partners Group bought Manila-based business process outsourcing firm SPi Global from CVC Capital Partners Asia III (CVC) and its subsidiary PLDT Global Investments Corporation (PGIC) for a total value of USD330 million. SPi provides services catering to education, science, technical and medical research publishers worldwide on behalf of its clients.

The Association of Asia Pacific Airlines (AAPA) warns that rising fuel prices and stiffer competition in the aviation industry’s business environment poses risks for profits in the region. PAL Holdings, operator of Philippine Airlines posted a net loss of PHP1.13 billion while Cebu Air Inc., operator of Cebu Pacific, saw net income fall to PHP1.28 for this year’s first quarter.

Israeli businessmen are seeking to expand their presence in the Philippines in two sectors: food manufacturing and processing and information technology-business process management (IT-BPM). According to the Israel Chamber of Commerce of the Philippines (ICCP), a skillful pool of human resource attracts foreign companies to outsource most of their IT technology in the country and its agricultural geography contributes to a growing demand in food manufacturing industry.

 ECONOMY

Figures from the Philippine Statistics Authority (PSA) show that the largest market for Philippine exports is the European Union (EU) for the month of March. With USD901 million of total exports recorded, the EU overtook the United States and Japan as the most preferred destination for Philippine goods. Strong demand for agri-food products reaping the benefits of the Generalized System of Privileges Plus (GSP+) is one among many factors for this growth, the EU Delegation in the Philippines said.

Philippine exports rose to 18.34% increase from USD4.61 billion total revenues to USD5.58 recorded for the first quarter of the year. According to the Department of Trade and Industry, this is the “fourth consecutive positive growth” since December last year. The country ranked third top exporter after Malaysia and Indonesia for this quarter with semiconductors as the most exported merchandise in the market. The United States, Hong Kong, and Japan are the country’s top three destinations for exports.

 INVESTMENTS

A delegation from the state-owned holding firm Qatar Investment Authority (QIA) will arrive in September as a follow-through of President Rodrigo Duterte’s visit in the Middle East last month when it saw the signing of an investment agreement. The Department of Finance (DOF), who extended the invitation, also enjoined the Qatari ambassador to the Philippines to invest in tourism, logistics, housing, and pharmaceuticals.

 INFRASTRUCTURE

The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) ranked the Philippines 24th in its Asia-Pacific Countries with Special Needs Development Report 2017. In addition, the country ranked fourth from the last in the “developing country” section. According to the report, the Philippines demonstrated progress in reference to studies that show infrastructure development leads to sustainable economic growth and is a significant factor for reducing poverty.

Content delivery network provider Akamai Technologies’ latest quarterly report shows that the Philippines has the slowest internet connection in the Asia Pacific region with a laggard average connection speed of 5.6 Mbps. Nevertheless, the Q4 2016 Report expressed optimism as the current administration considers the issue a national priority.

Department of Finance (DOF) spoke to Japanese investment bank Daiwa Securities Group on its plan to shift the Development Bank of the Philippines’ (DBP) lending priority solely to infrastructure in alignment with the administration’s “Build, Build, Build” initiative. The “make over” can help its clients tap capital markets where Daiwa specializes and willing to help. Recently, the provincial government of Camarines Sur received a PHP500 million term loan from the bank.

 ENERGY

In line with international maritime standards for energy-efficiency measures, the Philippine Ports Authority launches the “Green Port” project where it plans to switch to renewable energy. According to officials, this is in accordance with a port development roadmap adopted last month and a commitment anchored to the long-term goals of the Ambisyon Natin 2040 program as well as calls by the international community to reduce global carbon footprint.

Senator Sherwin Gatchalian, chair of the Senate Committee on Energy, urged the Energy Regulatory Commission (ERC) to fast-track its periodic reviews of its system loss program to facilitate a new one that will reduce the charges that private distribution utilities and electric cooperatives can pass on to their consumers. ERC said they are currently assessing their program and is set to consult with stakeholders next month.

ENVIRONMENT

Former army veteran and diplomat Roy Cimatu has been appointed as interim head of the Department of Environment and Natural Resources replacing Gina Lopez, whose nomination was rejected by the Commission on Appointments earlier this month. He once served as chief of the Armed Forces of the Philippines (AFP) and as special envoy to overseas Filipino workers (OFWs) in the Middle East.

The Department of Transportation (DOTr) plans to modernize the current 250,000-strong fleet of jeepneys across the country through an allocated budget of PHP1 billion by the Land Bank of the Philippines. Under the Public Utility Vehicle (PUV) Modernization Program, old jeepneys will have to switch to Euro 4-compliant, hybrid, or electric engines. New jeepneys, on the other hand, will be installed with an automated fare system, WiFi, global positioning system (GPS), closed circuit TV, speed limiter, and in some units, air conditioning system.

 AGRICULTURE

President Duterte held a dialogue with protesting farmers from Davao del Norte’s Madaum Agrarian Reform Beneficiaries Association Inc. (MARBAI) and reassured them of reclaiming the 145-hectares San Isidro banana plantation allegedly controlled by owners of Lapanday Food Corp. (LFC). Duterte also told the farmers to return to the province since their leader is already speaking with him and the Department of Agrarian Reform.

In anticipation to thin supply of rice for the lean season, the National Food Authority (NFA) received green light to import milled rice but only from private companies instead of the usual government-to-government (G2G) scheme. Officials said this method will promote competitiveness and transparency instead of the latter option which they saw as “prone to corruption.”

A position paper is being prepared by the Department of Agriculture (DA) that will restructure the procurement process of seeds from its current “lowest bidder wins” process to a results-oriented method. DA officials said a liberal way of purchasing seeds should be developed that would take into account farmers’ preference to produce the most yield instead of saving money for the cheapest produce.

406,000 Filipino farmers planted 812,000 hectares of biotech maize in 2016 making the Philippines as the 12th biggest producer of biotech crops in the world, the International Service for the Acquisition of Agri-biotech Applications (ISAAA) reports. As the first country in Southeast Asia to plant biotech corn in 2003, it remains as the top grower of genetically modified (GM) crops in the region. Currently, there are studies to develop GM eggplants, papayas, and cotton.

HEALTHCARE

The Department of Health (DOH) reports that there are 968 new cases of individuals as of March who acquired the human immunodeficiency virus (HIV). 95 of these cases acquired HIV through transactional or paid sex, according to the latest report of the HIV/AIDS Registry of the Philippines (HARP). In total, there are now 42,283 individuals diagnosed with HIV since it was first reported in the country in 1984.

Social Weather Stations (SWS) reports that fewer families are experiencing involuntary hunger nowadays. The survey found out that around 2.7 million households (11.9%) experience hunger due to lack of food to eat at least once in the past three months. The latest number is two points lower from a December 2016 survey where it shows that 3.7 million families (13.9%) have the same dilemma.

In response to the plight of children afflicted with malnutrition, the Department of Health (DOH) and National Nutrition Council (NNC) launched the Philippine Plan of Action for Nutrition (PPAN) 2017-2022 to serve as the government’s blueprint in the short term to reduce the number of children with cases of stunting (pagkabansot), wasting (pagkapayat), micronutrient deficiencies, and overweight/obesity.

A House representative urged the Department of Health (DOH) to consult government agencies in preparation for the implementing rules and regulations (IRR) of Executive Order (EO) No. 26 which imposes a nationwide smoking ban in all public places. The EO also provides the creation of designated smoking areas (DSA) and the lawmaker urged the DOH to create an extensive information campaign.

 TOURISM

Taiwan’s Ministry of Foreign Affairs (MOFA) postponed the implementation of visa-free entry for Filipinos wishing to travel to the country. According to them the measure was to clear out administrative procedures for seamless operations and boost up security for both nationalities.

Officials from the Subic Bay Metropolitan Authority (SBMA) plans to turn Subic’s tourism potential as a world-class tourist destination by upgrading the freeport’s wharves and harbors to attract more cruise ships under its “Tourism Star” development agenda.

Golf enthusiasts from 36 countries worldwide are expected to visit and play in the Philippines next year after the Tourism Promotions Board (TPB) announced the country won the bid to host the 7th Asian Golf Tourism Convention (AGTC), Asia-Pacific region’s premier gold event. It is scheduled on April 22-25, 2018 and will take place on golf courses in Metro Manila, Tagaytay, Clark and Boracay.

Cebu Factsheet May 2017

CEBU, SEES MORE FROM IT-BPM BY 2019. Cebu Economic and Business Unit consultant, Joel Yu, sees more growth from Information Technology and Business Processing Management (IT-BPM) Industry by 2019 as the city ranks one of the preferred IT-BPM destinations in the world in Tholon’s report. The two-year target expects to reach 606 operating firms from the current 329 and 200,000 employees from 130, 260. The continuous development of the industry carries tremendous opportunities for Cebu’s economy in employment, wages earned and purchasing power.

LUXURY CONDOS GOING POPULAR IN CEBU. Cebu City is a key investment destination for luxury condominiums as high-spending tourists and high-ranking local and foreign executives from outsourcing sector and industrial firms demand for hotel-like amenities and near-the-beach areas. Cebu Business Park, Cebu I.T Park, and Mactan Newtown remain a good place to nestle luxury condos. The average monthly rent of luxury three-bedroom condominiums is 150,000. Recently, Philippine Amusement and Gaming Corp. (PAGCOR) obtained a license to develop an integrated gaming resort dubbed Lapu- Lapu Leisure Mactan worth US$300 million.

EXPRESSWAY PROMPTS GROWTH IN CEBU PROVINCES. Duterte administration’s Build, Build, Build program eyes the construction of Metro Cebu Expressway. The 74-kilometer road plan will soon run from north of Danao down to south of Naga City to improve farm-to-market roads and expand trade and commerce in the province outside the key cities of Cebu, Mandaue, Lapu-Lapu and Talisay. This 50 billion project is expected to be finished before the term of President Rodrigo Duterte ends by 2022.

CEBU’S KEY INFRA PROJECTS. With the growing interest in Cebu as meetings, incentives, conventions and exhibitions (MICE) destination, construction and upgradation of infrastructure are to be made by Duterte administration. On the list are the Mactan-Cebu International Airport (MCIA) Terminal 2 project, Cebu-Cordova Bridge project, and Bus Rapid Transit system project. GMR- Megawide Cebu Corp. (GMAC), the firm behind the public private project of Mactan-Cebu International Airport (MCIA) Terminal 2 is expected to increase passenger capacity from 4.5 million to 12.5 million upon the completion of the airport by June 2018.

BEAUTY AND WELLNESS: CEBU’S QUICK SELL. Demand for beauty and wellness products across all ages and genders in Cebu rises. Health and beauty chain, Watsons Group, sees Cebu as one of the leading markets with high consumption of whitening and anti-aging products for women and food supplements for men. Whitening products are appealing to younger consumers as it serves as an entry point to beauty and wellness as they see quick results. High record with men taking health supplements to complement their body activities. The company saw double digit growth sales in its whitening segment across its 500 branches.

CV TOPS IN GROSS REGIONAL DOMESTIC PRODUCT. Among all regions in the country, Central Visayas scored the highest Gross Regional Domestic Product (GRDP) with 7.5%, higher than 6.8% national GDP, based on the Regional Development Plan 2011- 2016. Acting deputy director of the Department of Economic Research of the Bangko Sentral ng Pilipinas (BSP), Joselito R. Basilio, said the region’s five-year GDP growth in the sectors of agriculture, fishing, forestry, industry and services fuel the continued growth of Central Visayas. At the heels of implementing the 2017-2022 regional development plan, National Economic and Development Authority (NEDA) Central Visayas Director, Efren Carreon, said Central Visayas is in the best position to lead opportunities for development.

Davao Factsheet May 2017

Chinese investors eyed for proposed ecozone in Surigao

Rep. Johnny Pimentel of the 2nd district of Surigao dl Sur, principal author of House Bill 2672 filed in August last year, said the creation of the Special Economic Zone in Bislig City will “drive employment and consumption growth and overall economic expansion” in Mindanao in general and Caraga region in particular.

“We are hoping to attract Chinese investors to build factories in the economic zone, considering our government-to-government as well as people-to-people relations with China have warmed up owing to President Duterte’s independent foreign policy track,” Pimentel, chair of the Committee on good government and public accountability, said in a press release.

He said locators at the economic zone shall enjoy income tax holidays and waiver of taxes and duties on imported capital equipment and machinery, among other financial incentives.

Foreigners who invest at least $150,000 (P7.4 million) in cash or equipment in any enterprise located in the economic zone shall also enjoy visa and residency privileges, along with their immediate family members.

HB 2672 proposes the establishment of a Special Economic Zone in Bislig or Bislig Ecozone, which will be managed and operated by the Bislig Special Economic Zone Authority or BSEZA.

P332.5-M for ‘P3’ in Mindanao

A TOTAL of P332.5 million credit lines were approved for eight microfinance institutions (MFI) in Mindanao during the initial launching of Pondo sa Pagbabago at Pag-asenso (P3) program, the microfinance initiative of the government, here in Mindanao. The P3 program was established with the objective of assisting small businesses with their loans, to not anymore rely solely on the 5-6 loan scheme which has a bigger interest rate. As it was first established at key areas in the Philippines, it was initially launched at Sarangani Province for Mindanao.

Department of Trade and Industry (DTI) Small Business Corp (SBCor) Dida Delute said of the P332.5 million credit line had been approved for eight MFIs in Mindanao only P5 million of this was released since most of the applying MFIs still have a number of requirements to submit.

Russia eyed as export market for bananas from Mindanao

NEGOTIATIONS for exportation of bananas from Mindanao to Russia is targeted to be within the year after a go signal was given by the Department of Trade and Industry (DTI) for any outbound business missions to Russia. In an earlier interview, Pilipino Banana Growers and Exporters Association (PBGEA) executive director Stephen Pantig said they are looking into possible exportation to Russia to further identify new export markets. “Overtime, we saw that the export to China has been growing but it’s not growing as fast as we would want it to be. We discovered that some of the bananas that we have been selling to China are actually being exported or sold to Russia also. So why not us? Why don’t we directly export to Russia,” said Antig in an earlier interview. Antig said they are still waiting for DTI regarding the outbound business mission schedules especially now that President Rodrigo Duterte had a recent visit and meeting with the Russian president Vladimir Putin. “We’re still waiting for the missions so we can meet with the Russia importers and we can talk about how big is the volume that they need, how big is the volume that they want, and what are the prices. Other than that, we also have to establish the protocol for exporting bananas to Russia because it wouldn’t be that easy. We need to know, for example, the customs requirements,” he said.

St. Luke's to put up facility in Davao City

ST. LUKE’S Medical Center, a world-class healthcare facility based in Metro Manila, is targeted to establish a branch here in Davao City by 2022. Abreeza Ayala Malls operations manager Janice Parreño, announced Wednesday, during the Habi at Kape press conference that the memorandum of agreement between Aviana Development Corporation and St. Luke’s Medical Center was signed last Tuesday, May 30, at the Ayala Tower One, Makati regarding the establishment of the said hospital in the city.

Aviana Development Corporation is a joint venture (JV) company of the Alcantara Group and the Ayala Land, Inc.

25-hectare land area at Azuela Cove, R. Castillo, corner J. P. Laurel Avenue, which used to be the Alcantara plywood company, will be allotted for the said healthcare facility project. “Definitely, St. Lukes Medical Center is committed to come in to Davao. This will be the first world-class health care facility here in Davao. This is quite a welcome development,” said Parreño.

Negotiations ongoing for Davao, Doha air link

DIRECT flight between Doha, Qatar and Davao City, Philippines is now being negotiated, the Davao Tourism Association (Data) said. Data President Gatch Gatchalian, in a press statement sent to media last Friday, May 26 said direct flight cements foreign investors confidence in the economic potential of Mindanao.

Gatchalian quoted Davao Region Tourism Council president Mary Ann “Baby” Montemayor saying: "We call on the national government to seize this opportunity and forge the first direct air links to Mindanao from the Middle East."

“The first airline to take up the challenge will discover that there is great long-term value in flying direct to Mindanao. We are eager to tap the potential of the global “Mice” (meetings, incentives, conferences and exhibitions) market, and capitalize on our eco-tourism advantages,” Montemayor said.

Detailed information regarding the proposed direct flight has yet to be finalized.

Investors in Davao City in 'wait and see' mode

POTENTIAL investors in Davao City are in “wait and see” mode due to the ongoing peace and order threats in Marawi City.

Davao City Mayor Sara Duterte-Carpio in a press conference on Monday, May 29, at the Davao City Hall said the recent peace situation in the island has taken a slight toll in the city’s economy especially in tourism.

“We noted some cancellations of supposed activities in the city,” she said. Duterte-Carpio said the City Tourism Operations Office and the regional tourism office are in talks on how to overcome the present problem. She added the tourism industry players in the city see the situation to be normalized after few days or weeks.

Davao City Investment Promotions Center officer-in-charge Lemuel Ortonio said earlier that there are postponements of certain activities and visits supposedly set on June this year. But he was quick to add that such is normal, especially in this kind of situation.

Ortonio, however, said that the city is still open for business. "It's just that safety and security is still of primary concern," he said.

P150-M budget for DOST halal program in Davao Region

A P150-MILLION budget proposal for this year for the Department of Science and Technology (DOST) in Davao Region Integrated Halal Program, which is in partnership with three state universities in Mindanao, is expected to be approved by June.

According to DOST-Davao Regional Director Anthony Sales, the three-year program is a mandate under the Halal Law, which was promulgated in 2015. Components under this program include research and development, testing, human resource development, and technology transfer.

“Under that law, DOST should conduct research and development, help in the development of Halal science and technology experts, help with the transfer of halal-compliant technologies, and to assist in the testing of products and materials whether it is halal or haram,” Sales said.

The proposal was submitted to DOST-Philippine Council for Industry Energy and Emerging Technology Research and Development (PCIEERD) and once approved by June, Sales said they will immediately start with the implementation of the program.

Davao Region inflation rate slows down to 3.1% in April

THE Philippine Statistics Authority (PSA)in Davao Region reported that the inflation rate in April this year slowed down to 3.1 percent from 3.9 percent in March.

The agency also said this is also lower than the recorded 3.2 percent inflation rate in April 2016. "The downtrend was primarily due to the declined inflation in most of the commodity groups," PSA-Davao Region said in a statement.

Food and non-alcoholic beverages slowed to 2.0 percent in April from 3.2 percent in March, alcoholic beverages and tobacco at 4.9 percent from 5.5 percent; clothing and footware at 4.7 percent from 5.1 percent, housing, water, electricity, gas, and other fuels at 6.7 percent from 7.3 percent, furnishing, household equipment and routine maintenance of the house at 2.9 percent from 3.0 percent, communication at 1.2 percent from 1.3 percent, and recreation and culture at 1.5 percent from 1.6 percent.

Slower increases were also recorded in health at 4.5 percent in April from 4.4 percent in March and transport at 3.0 percent from 2.7 percent. The inflation rate for education remained the same at 2.6 percent together with restaurant and miscellaneous goods and services at 2.2 percent.

Banana production in Davao Region up by 1.6%

BANANA production in Davao Region has increased by 1.6 percent to 2,335.48 metric tons (MT) in 2016 from 2,299.32 MT in 2015, Pilipino Banana Growers and Exporters Association (PBGEA).

PBGEA Executive Director Stephen Antig told SunStar Davao in an interview that the banana industry is still on its recovery stages after being greatly affected by the El Niño phenomenon that lasted from 2015 to 2016 and the ongoing infestation of the Panama disease, which affected around 15,000 hectares of banana plantations in Mindanao.

Antig said by the end of June this year they will be able to see whether or not the banana production in Mindanao has increased or decreased compared to June 2016. “After a long drought, we are thankful that it has started to rain but we are also hoping that it wouldn’t be too much rain otherwise it would cause flooding in the plantations,” said Antig.

In line with the industry’s rehabilitation, Antig said farmers are taking different measures and actions to help remedy the situation. Currently, there had been banana plantations that put up irrigation systems in preparation of any future droughts. Rehabilitation of farms that had been affected by different diseases had also started.

DTI rolls out price watch application to monitor market prices

DAVAO CITY, Philippines –The Department of Trade and Industry (DTI) introduced a new application to help the public monitor prices of necessities in the market.

Dubbed as “e-Presyo”, the application aims to guide the consumers in checking Suggested Retail Prices (SRPs) and prevailing prices of all basic commodities being monitored by the department.

DTI Officer-in-Charge of Davao City Robert W. Barlis encouraged the public to use the application so that they themselves can monitor prices and as well as report to authorities if there are violators.

“Anyone who has an android phone can download the application. The application shows nationwide prices of commodities including regional, municipal and on the cities,” Barlis said in a press conference, on May 31.

DTI XI Trade and Industry Specialist, Dexter P. Bermudez demonstrated how the application can be used and said that the application is free to download and is easy to use.

Using any android phone, “DTI e-Presyo” can be uploaded from Play Store or go to DTI website, www.dti.gov.ph to access the app.

CDO Factsheet May 2017

RUSSIA EYED AS EXPORT MARKET FOR BANANAS FROM MINDANAO

NEGOTIATIONS for exportation of bananas from Mindanao to Russia is targeted to be within the year after a go signal was given by the Department of Trade and Industry (DTI) for any outbound business missions to Russia. In an earlier interview, Pilipino Banana Growers and Exporters Association (PBGEA) executive director Stephen Pantig said they are looking into possible exportation to Russia to further identify new export markets. “Overtime, we saw that the export to China has been growing but it’s not growing as fast as we would want it to be. We discovered that some of the bananas that we have been selling to China are actually being exported or sold to Russia also. So why not us? Why don’t we directly export to Russia,” said Antig in an earlier interview. Antig said they are still waiting for DTI regarding the outbound business mission schedules especially now that President Rodrigo Duterte had a recent visit to Russia.

LA-BASED BPO FIRM TO PUT UP CDO SITE

C360, a BPO firm based in Los Angeles, California, USA will be establishing a site in Cagayan de Oro City specifically at One Providence, Lifestyle District as part of its global expansion plans.

C360 is associated with Adesso Brands, a sales and marketing company. Accordingly, the company is considering to establish a center with 132 seats to start and could potentially flourish and expand to cater to other lines of businesses. Ideally, the firm is driving its goal towards optimizing its capacity at 300 seats by the end of 2017.

GOODYEAR AUTOCARE OPENS SECOND SITE IN CDO

Goodyear Philippines recently opened its Autocare center at Pueblo de Oro along Masterson Avenue right beside Peugeot Showroom. The one-stop-shop offers automotive servicing needs such as, tires, oil change, batteries and brakes among others with excellent professional assistance.

ASEAN MULTI-SECTORAL FORUM HELD IN CDO

Representatives of various sectors from the government, business sector, religious, civil society, women, and youth in Cagayan de Oro attended the Association of Southeast Asian Nations (ASEAN) forum held yesterday, May 10, 2017 at Mallberry Suites Hotel.

The forum was organized by the Presidential Communications Operations Office (PCOO) through the Philippine Information Agency (PIA) to raise awareness and deepen understanding of the Philippines’ chairmanship of ASEAN this year which coincides with a historic milestones event–the 50th founding anniversary of ASEAN.

Among the topics discussed were overview of ASEAN 2017, AmBisyon Natin 2040, ASEAN Trade and Investment Opportunities and Freedom of Information.

SM EXPANDS TO MINDANAO WITH CDO DOWNTOWN PREMIER OPENING

SM Prime Holdings, Inc. (SM Prime), one of the leading integrated property companies in Southeast Asia, opened its newest mall, the SM CDO Downtown Premier, last May 12, 2017. The new mall will add almost 178,000 square meters (sqm) of gross floor area (GFA) to the total retail footprint.

SM CDO Downtown Premier, which is 87% leased awarded, will raise the malling experience in Cagayan de Oro as it will offer top amenities that Kagay-anons can enjoy. These include Cyberzone, SM Food Hall, SM Bowling Center, 5-level carpark building, 4 digital theaters, 2 Director’s Club, 1 Large Format Cinema, an 800-seater Sky Hall just like in SM Aura Premier in Taguig City and an al fresco dining and entertainment Sky Garden just like in SM North EDSA in Quezon City. The mall will also feature more popular stores such as Ace Hardware, BDO, Chinabank, Forever 21, Miniso, Our Home, Pet Express, SM Appliance, Sports Central, Surplus Shop, Toy Kingdom, Uniqlo and Watsons.

To top it all, SM CDO Downtown Premier complex will also have an eight-level office building that will cater to Business Process Outsourcing (BPO) companies.

Set to be Cagayan de Oro’s premier shopping address, SM CDO Downtown Premier is located at the bustling central business district of the city and easily accessible to the financial, commercial, residential and learning institutions.

BURGER KING, MCDONALDS OPENS MORE STORES IN CDO

BURGER KING is following up its newly opened store at SM CDO Downtown Premier with a another outlet at the corner lot across Centrio Ayala Mall. McDonald’s meanwhile opened its second 24-hour drive-thru store in Cagayan de Oro City along Kauswagan Highway right across Savemore Market. The 2-level outlet is the fast food chain’s 7th in the city.

GOVT LOOKING AT PHIVIDEC FOR REVIVAL OF STEEL INDUSTRY

Aside from the National Steel Corp. (NSC) in Iligan City, the government is also looking at Phividec Industrial Estate in Misamis Oriental for the revival of the steel industry. This was bared by Ramon “RJ” Jacinto, presidential adviser on Economic Affairs and Information Technology Communications during the recent Infrastructure Congress and Expo Philippines held May 3-5 at World Trade Center in Manila. Jacinto said the government is looking for other new sites like Phividec because the revival of the NSC also includes hurdling financial issues due to NSC’s existing loans with banks. Not only that, it requires foreign investment for the technology aspect.

KOREAN FIRM KEEN ON AIRPORTS PPP DEAL

Korea Airports Corp. (KAC), which operates 14 regional airports in Korea and the world’s third-largest air control devices manufacturer, has expressed interest in the government’s P108.8 billion Public-Private Partnership (PPP) project for the development, operation and maintenance of the Bacolod-Silay, Davao, Iloilo, Laguindingan (Cagayan de Oro), and Bohol (Panglao) airports.

KAC has told Philippine Ambassador to South Korea Raul Hernandez about their interest to participate in the PPP-scheme for the regional airports.

KAC specializes in the construction, management and operation of airports and has developed its own aviation technologies, such as the DVOR (Doppler Very High Frequency Omni Range), FIS (Flight Information System), and RFID (Radio Frequency Identification). It has also already exported its aviation technologies to 16 countries including the Philippines.