Monday Dec, 09 2019 08:48:15 AM

Economic News

Sen. Go to initiate Senate probe on Maynilad, Manila Water contracts

DATU HOFFER, Maguindanao - The Philippine senate is spearheading an investigation in aid of legislation against what Pres. Duterte has described as contracts that were very disadvantageous to the government, Sen. Bong Go said.

Go, who was here for the opening of the country’s 53 Malasakit Center at Maguindanao provincial hospital, was referring to the contracts between the government and two giant water concessionaires – the Maynilad owned by business mogul Manny Pangilinan and the Ayala-led Manila Water.

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 P100-M abaca fiber processing plant to be established in BARMM

COTABATO CITY - A Php 100 million abaca fiber processing plant will be established at Brgy. Calilangan, Balabagan, Lanao del Sur after the Regional Board of Investments (RBOI), Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) approved the registration of Hong Kong Feng Seng Heritage Philippines Inc. (HK FSH).

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Agri and fisheries top industries in the proposed BARMM investments list

COTABATO CITY  -  Agriculture and Fisheries are top industries which the Bagnsamoro region can offer to investors both foreign and local investors given the region’s vast lands and rich water resources.

The statement was issued by Minister Abuamri Taddik of the Ministry of Trade, Investments and Tourism in the Bangsamoro Autonomous Region in Muslim Mindanao (MTIT-BARMM) during the first ever BARMM Investments Priorities Plan (IPP) public consultation held on October 14, 2019 in Cotabato City.

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P306 million worth pineapple packing plant up in Wao soon

LANAO DEL SUR --- An upcoming P306 million worth pineapple packing plant facility can boost the rise of this province from deadly conflicts instigated by Maute terrorists, officials said Tuesday.

The setting up of the facility in Wao town in the first district of Lanao del Sur is a tie-up between the Wao Development Corporation, or WDC, and the transnational fruit firm DOLE Philippines.

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BARMM approves P515-M modern corn production project

COTABATO CITY - A Php515 million modern corn plantation is set to be established at Brgy. Kabingi, Datu Saudi Ampatuan (DSA), Maguindanao.

This is after the Regional Board of Investments (RBOI), Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) approved the application of Maguindanao Corn Development (MCD) –DSA I Corporation, an agri-based company, to register with RBOI.

This is for MCD to avail of fiscal and non-fiscal incentives from the government under Executive Order 226, otherwise known as Omnibus Investment Code of 1987, as amended.

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BARMM approves P306-M pineapple investment project

COTABATO CITY - The Regional Board of Investments (RBOI)-Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) recently approved the registration of Wao Development Corporation (WDC) to establish a new  pineapple packing plant located in the  Municipality of Wao, Lanao del Sur worth Php306 million.

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RBOI-BARMM execs visit Brunei embassy to promote investments

COTABATO CITY The Regional Board of Investments (RBOI), Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) represented by RBOI Governor, Mohamad Pasigan and Supervising Investments Specialist, Jun Macalawan met with Ambassador Extraordinary and Plenipotentiary of Brunei Darussalam to the Republic of the Philippines, Her Excellency Johariah Wahab for a courtesy meeting at the Embassy of Brunei Darussalam in Makati City on September 5, 2019.

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Kapa founder's wife faces P168-M tax evasion raps

MANILA -- The Bureau of Internal Revenue (BIR) on Thursday filed tax evasion charges before the Department of Justice (DOJ) against Reyna L. Apolinario, the corporate secretary of Kapa Community Ministry International Inc., (Kapa) and wife of its head, Pastor Joel Apolinario.

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Controversial Central Mindanao Airport soon to open 

NORTH COTABATO --- Officials started resolving this week the right-of-way issues that hindered the supposed operation of the multi-million Central Mindanao Airport since its construction in 2007.

Representatives from the Department of Public Works and Highways and   local officials just had a dialogue and agreed to collaborate in addressing the problems, according to North Cotabato Gov. Nancy Catamco.  

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BARMM allows high-ticket Basilan banana farm project

COTABATO CITY ---The first ever 1,000-hectare Cavendish banana plantation project in Basilan to employ 3,000 workers can now takeoff following Friday’s grant of certificate of registration for the venture.

Chief Minister Hadji Ahod Ebrahim of the Bangsamoro Autonomous Region in Muslim Mindanao turned over the certificate to the group pushing the project forward in a simple rite at the BARMM capitol here Friday.

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