Category Archives: Economy

BOI approves grant of perks to 2 agri-processing expansion projects

Image result for BOI approves grant of perks to 2 agri-processing expansion projectsThe Board of Investments (BOI) has approved two agri-processing and production projects with a combined worth of P86 million.

In a statement on Tuesday, the government’s main investment-promotion agency announced that the expansion of 557 Feather Meal Corp.’s  poultry-dressing facility and R-LEY Trading’s roasted cashew-nuts factory have qualified for government incentives.

Feather Meal Corp.’s project qualified under the 2017 Investment Priorities Plan’s agriculture, fishery and forestry category, while R-LEY’s investment was approved under the list of eligible export activities. Continue reading

Ayala coop backs rice farming

Image result for Ayala coop backs rice farmingAyala Multipurpose Cooperative, Palawan ARC Cooperative Federation of Narra, Palawan and Ten Knots Development Corp. recently signed a tripartite agreement in support of the Agriculture’s Department’s Corporate Rice Farming Program.

The department said it was the second time the Ayala cooperative signed an agreement supporting an agriculture project. The first was with a local farmer’s cooperative in Iloilo.

“The coop is pleased that starting from a small seed in Iloilo we are now moving towards a bigger group, a bigger engagement, and partnership with the Department of Agriculture. Continue reading

Kudat: Road to development

KOTA KINABALU: Datuk Seri Teo Chee Kang is taking his inspiration from China when it comes to pushing for development.

Citing the Asian giant’s philosophy that for any place to develop, good roads have to be built to and from it, the Tanjong Kapor assemblyman said the roads and other infrastructure in Kudat had to be improved to boost economic growth there.

Among the initiatives proposed by Teo, who is also Sabah special tasks minister, was a coastal highway that would reduce by half the three-hour travelling time between Kudat and here. Continue reading

Microgrids can connect Palawan to main system

Image result for Microgrids can connect Palawan to main systemINSTALLING microgrids in Palawan can connect the northernmost part of the province to the main grid, according to a legislator.

Senator Sherwin Gatchalian said in a chance interview that state-run National Power Corp. (Napocor)’s plan to energize about 200 households for P3 billion “opens up the idea to the microgrid.”

Gatchalian, who heads the Senate energy committee, explained that when they deliberated on Napocor’s fiscal budget, the proposal was not viable since it would only involve small municipalities. Continue reading

Russian envoy wants to promote Coron as tourist destination

Image result for Russian envoy wants to promote Coron as tourist destinationPUERTO PRINCESA CITY, Palawan — Russian Ambassador to the Philippines Igor Khovaev wants to promote the town among his compatriots as a tourism destination.

Khovaev, who arrived Tuesday in the municipality for a three-day cultural and language training-seminar about his country, was accompanied by consuls Denis Karenin and Carmi Garcia, and Department of Tourism (DOT) representatives Gloria Punzalan and Zenaida Potapurchenco, said Coron administrator Jonathan Dabuit. Continue reading

West Philippine Sea: Joint development with China?

Image result for West Philippine Sea: Joint development with China?In a major sign of improved bilateral relations, not to mention our desperation to develop alternative sources of energy, Department of Energy (DOE) Secretary Alfonso Cusi recently announced a “win-win solution” in the West Philippine Sea.

Thus, the PNOC Exploration Corp, in partnership with China National Offshore Oil Corporation (CNOOC) and Jadestone Energy Inc. are set to develop Calamian project off the island of Palawan. China’s CNOOC is expected to hold a majority 51 percent share. Continue reading

Palawan CSOs see hope in Renewable Portfolio Standards

File photo by Potpot Pinili/Rappler PUERTO PRINCESA CITY, Palawan – While Palawan civil society organizations (CSOs) consider the Renewable Portfolio Standard (RPS) as long overdue, they say it gives them a glimmer of hope as it will compel the power distributor Palawan Electric Cooperative to finally tap the province’s rich renewable energy (RE) potential.

Cynthia Sumagaysay-Del Rosario, one of the lead conveners of the Palawan Alliance for Clean Energy (PACE), said the green groups have long been waiting for the Philippine RPS Rules for Off-grid Areas to be created and eventually implemented. Continue reading

Solon urges Duterte to renew BIMP-EAGA travel tax waiver

Image result for Solon urges Duterte to renew BIMP-EAGA travel tax waiverA lawmaker is to revive an old policy that waives travel taxes for anyone passing through Mindanao and Palawan ports to arrive at destinations within a Southeast Asian subregional economic bloc.

Davao del Sur Representative Mercedes Cagas filed House Resolution 1270 on September 4, urging President Rodrigo Duterte to renew the travel tax exemption policy that covers passengers arriving from the said ports to any destination in the Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA). Continue reading

BIMP-Eaga seeks more investment, trading relation with Chinese firms

Image result for BIMP-Eaga seeks more investment, trading relation with Chinese firmsA subregional grouping under the Asean has indicated to China’s economic leaders that it wanted to further expand relations since China became a recognized extended trading partner in 2009 of the subregional grouping.

The partnership between the Brunei Darussalam, Indonesia, Malaysia and the Philippines East Asean Growth Area (BIMP-Eaga) was marked by China’s various technical assistance and learning exchanges when the partnership was formally forged through a Framework of Economic Cooperation in 2009. Continue reading

Palawan to spearhead formation of tourism cooperatives

Image result for Palawan to spearhead formation of tourism cooperativesPUERTO PRINCESA CITY, Palawan — The provincial government of Palawan is looking into the possibility of spearheading the formation of cooperatives to maximize expertise, skills and information in the development and marketing of the local tourism industry.

Victoria Ladica, cooperative development officer of the Provincial Cooperative Development Office (PCDO), said Tuesday there is currently no cooperative in Palawan that is directly related to tourism despite being one of two leading industries in the province. Continue reading

DoE endorses joint oil exploration with China

Image result for DoE endorses joint oil exploration with ChinaThe Energy Department endorsed for Malacañang’s approval the farm-in agreement between state-run PNOC Exploration Corp. and China National Offshore Oil Corp. over a petroleum-rich area northwest off Palawan province.

Energy Secretary Alfonso Cusi told reporters at the sidelines of the Asean Energy Business Forum 2017 that amid the strengthening ties with China, the department endorsed the agreement covering service contract 57 for the approval of President Rodrigo Duterte. Continue reading

239 Palawan farmers complete ‘Kabalikat sa Kabuhayan’ program

FILE: They are composed of traditional farmers, members of the Pantawid Pamilyang Pilipino Program(4Ps), and college students from 29 barangays in Puerto Princesa, as well as from the municipalities of Aborlan and Roxas. (PNA photo)PUERTO PRINCESA CITY, Palawan — After six months of training at the Palawan Agricultural Experiment Station (PAES), 239 program beneficiaries graduated as part of the 139th Kabalikat sa Kabuhayan (KSK) Rural Farmers’ Training Program held at SM City Puerto Princesa Event Center recently.

Russell Fernandez, public relations officer of the newly-opened SM City Puerto Princesa, on Saturday said the farmers graduated on September 22.

Continue reading

RLC now biggest solar power producer in malls

Robinsons Place Dumaguete’s rooftop solar panels was commissioned in April 2016 and has a total of 5,920 solar panels which produces an annual yield of 1,725,680kW-Hr.

Robinsons Land Corporation (RLC), a subsidiary of JG Sumit Holdings Inc., is further increasing the solar power generation capacity of its malls as the dominant renewable energy generator among Philippine property developers.

To date, Robinsons Land has almost 48,000 rooftop solar panels in its 11 malls, most of which are outside Metro Manila, allowing it to produce over 15 million kilowatt hours (KWH) of clean energy annually. Continue reading

DENR, NIA to get bigger 2018 budget

The Department of Environment and Natural Resources (DENR) and the National Irrigation Administration (NIA) got the House of Representatives’ nod for a higher 2018 budget.

DENR’s budget proposal for next year, amounting to P27.1 billion, is 1.77 percent higher compared to this year’s allocation of P26.6 billion.

Secretary Roy Cimatu expressed gratitude to the lawmakers for their continued support to the DENR, as well as to Rep. Corazon Nunez-Malanyaon of the first district of Davao Oriental, for sponsoring the agency’s budget at the plenary. Continue reading

SM Prime to open mall in Puerto Princesa, Palawan

MANILA, Philippines – SM Prime Holdings Incorporated is set to open its first mall in Puerto Princesa, Palawan on Friday, September 15 – its 64th nationwide.

SM Prime told the Philippine Stock Exchange (PSE) on Wednesday, September 13, that SM City Puerto Princesa will have 54,000 square meters (sqm) of gross floor area (GFA), bringing its total retail space in the Philippines to 7.9 million sqm. Continue reading

SM Puerto Princesa set to open Sept. 15

Glass walls at the main entrance and linear overhang create an inviting appearance.

Known as the Philippines’ last ecological frontier, the province of Palawan is a natural wonder with its vast tracts of tropical rainforests and a huge expanse of marine wilderness.

In the heart of Palawan lies the city of Puerto Princesa, a tropical paradise with a bustling urban center ideal for business with leisure trips. Lush rainforests and white sand beaches are simply hours away from the city proper, where a banking, commercial, IT, and BPO boom have made it one of the country’s fast developing cities.

Glass walls at the main entrance and linear overhang create an inviting appearance.

Continue reading

Brontispa longissima no longer a threat to Palawan coco industry

Image result for Brontispa longissima no longer a threat to Palawan coco industryBrontispa longissima, the two-colored leaf beetle that feeds on young leaves of seedlings and mature coconut palms, has been fully-controlled in Palawan.

Raul Aguilar of the Philippine Coconut Authority (PCA) here said once a serious problem of coconuts in the province, the leaf beetle, has already been subdued through biological pest control (BPC) using black earwig. Continue reading

SM Prime eyes 10 new malls in 2018, says exec

Image result for sm puerto princesaHENRY Sy-led property developer SM Prime Holdings, Inc. is planning to add 10 new malls across the country in 2018, exceeding its existing annual target of five to six malls.

“Every year, we’re opening five to six [new malls]although I think next year it would be more because they’re opening smaller malls next year,” Cora Guidote, SM Investments Corp. (SMIC) senior vice president for Investor Relations and Corporate Communications, told reporters on the sidelines of a forum organized by the Economic Journalists Association of the Philippines (EJAP) on Friday. Continue reading

Palawan to boost rice production by opening loans to farmers

Image result for Palawan to boost rice productionsA measure that seeks to grant fertilizer loans to farmers in Palawan has been approved by the Sangguniang Panlalawigan to boost the province’s rice productivity.

Resolution No. 13296 was approved to establish the Productivity Rice Reform Development (PRRD) project under the Livelihood Component of I-HELP (Infrastructure, Health, Education, Livelihood and Protection of the Environment). Continue reading

Geeks on a Beach 2017 opens in Palawan

Image result for geeks on the beach palawanSome 400 participants from government and the private sector, including successful technology entrepreneurs from Southeast Asia and Silicon Valley, gathered in Puerto Princesa, Palawan for Geeks on a Beach 2017, which started today.

For two days, participants will get to listen to valuable insights from big names in the startup and technology community. There will be keynotes, panels, and discussions with separate breakout tracks in between. Continue reading

Massive highway planned for Philippines’ Palawan Island

Govt bares goal to revive oil and gas exploration

Image result for oil and gas explorationThe Energy Department listed short-term targets,  including the lifting of moratorium on West Philippine Sea exploration, to revive the country’s  oil and gas sector which is now on a standstill amid low prices and industry challenges.

The department said in a budget presentation to Congress that these targets included assessing and reviewing reserves, lifting the moratorium on service contracts affected by the territorial dispute in the West Philippine Sea and monitoring and supervising work programs of contractors. Continue reading

Solon wants Palawan 3rd District declared as ‘mining-free zone’

Image result for Palawan 3rd District A bill filed in the Lower House is seeking the immediate declaration of the Third Palawan District as a “mining-free zone” to protect and preserve its natural environment.

House Bill No. 5597, which was filed by Palawan Rep. Gil Acosta last May 9, seeks the proclamation of the province’s third district as a mining-free zone to avert threats of forest destruction and prevent causing siltation on major water sources. Continue reading

DTI ‘Mentor ME’ program to support more small firms in Palawan

The Department of Trade and Industry’s (DTI) second round of “Kapatid Mentor ME” (KMME) program aims to support more small business owners here in partnership with the Office of the 3rd Palawan District and the Philippine Center for Entrepreneurship-Go Negosyo (PCE-GN).

Jointly launched here on Friday, the Kapatid Mentor Micro Entrepreneurs (ME) or KMME program welcomed in the event 150 micro- and small-enterprises (MSEs) from the 3rd Palawan District represented in the Lower House by Rep. Gil Acosta, and two other districts of the province . Continue reading