Friday May, 07 2021 03:40:05 AM

Economic News

BARMM logs 4.7K approved biz registrations in Q1 2021

COTABATO CITY – Despite the coronavirus disease 2019 (Covid-19) pandemic, the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) has approved a total of 4,740 business name registrations (BNRs) for the first quarter of this year.

Records from the Bureau of Trade and Industry (BTI) under the Ministry of Trade, Investments and Tourism (MTIT) of BARMM showed that the significant increase in BNRs this year is 300 percent higher compared to the 1,251 business registrations for the same period in 2020.


"Are we helpless against corruption, incompetence?"

Last month, while traveling down from Manila to Mindanao via the Maharlika Highway, I took a video of the long lines of trucks waiting for their turn to be accommodated in the ferry boats which would take them from Matnog, Sorsogon to at least three ports in Northern Samar.

The truckers, many of whom transport agricultural products from Mindanao to Metro Manila and important commodities from Luzon on the trip back, complained that they had to wait for at least 3 days before they could get a space in the ferry boats.


DENR-12 donates TV sets to SK schools for environmental awareness campaigns

ISULAN, Sultan Kudarat – In a bid to effectively improve its environmental awareness campaign, the Department of Environment and Natural Resources (DENR), through the DENR Region XII, donated 40 television sets to the Department of Education (DepEd) of Sultan Kudarat (SK) on March 2, 2021 at the Kings Hall, New Provincial Capitol, Isulan, Sultan Kudarat.


BSP to promote BARMM Islamic banking and finance

COTABATO CITY - The Bangko Sentral ng Pilipinas (BSP) seeks to promote BARMM as an investment destination for Islamic banking and finance.

This is according to the regional Bangsamoro Board of Investments (RBOI), which received a letter from BSP dated February 17, 2021 in response to the RBOI’s initiative to provide fiscal and non-fiscal incentives for investment operations under Republic Act No. 11439 entitled “An Act Providing for the Regulation and Organization of Islamic Banks.”

The BSP wrote the RBOI as follows:


Cotabato Light fully energizes upgraded substation

This additional capacity of Malagapas substation will improve reliability, system durability, and increase load capacity for future growth within the franchise area.

Cotabato Light and Power Company, one of AboitizPower’s distribution utilities, has fully energized its upgraded state-of-the-art Malagapas substation.


North Cotabato hauls awards in DTI’s competitive index

KIDAPAWAN CITY  – North Cotabato Gov. Nancy Catamco today attributed the gains of the province in the competitiveness index of the Department of Trade and Industry (DTI).

North Cotabato is at the No. 12 spot in Most Competitive Province category from among 76 provinces nationwide.

“This recognition is attributed to our dear people of North Cotabato,” Catamco, who received the award from DTI-12, said.

North Cotabato Investment and Promotion Center officials, headed by Norito Mzo and Margian Warner, accompanied Gov. Catamco in receiving the recognition.


DTI-12 office in Cotabato City now under BARMM

COTABATO CITY – Department of Trade and Industry’s (DTI-Region 12) office in Cotabato City is now under the control of the BARMM’s Ministry of Trade, Investments, and Tourism (MTIT) following an official turnover held Monday, Jan. 18 in the city.

DTI-12 also turned over its operations in the 63 barangays in North Cotabato to the jurisdiction of the ministry.

The turnover ceremony was led by DTI-12 Regional Director Jude Constantine S. Jaugan and MTIT Minister Abuamri A. Taddik.


RBOI-BARMM joins call for swift passage of tax perks law by Congress

COTABATO CITY - The regional Bangsamoro Board of Investments of the Bangsamoro Autonomous Region in Muslim Mindanao (RBOI-BARMM) has joined the private sector and various business groups in calling for the swift passage of the Corporate Recovery and Tax Incentives for Enterprises or CREATE bill by Congress.


72K families in Soccsksargen now ‘out of poverty’

GENERAL SANTOS CITY – Close to 72,000 families in Region 12 (Soccsksargen) covered by the national government’s conditional cash transfer program are now considered as “out of poverty” and already self-sufficient.

Cezario Joel Espejo, director of the Department of Social Welfare and Development in Region 12 (DSWD-12), said Monday such development was based on the results of their ongoing assessment on the status of the 258,466 households in the region that are enrolled in the Pantawid Pamilyang Pilipino Program or 4Ps.


Oil prices to increase Jan. 5

MANILA – Fuel costs are set to increase Tuesday morning, greeting consumers with a new year price hike.

In separate advisories, Cleanfuel, Petro Gazz, Seaoil, and Shell announced they will hike diesel prices by PHP0.30 per liter, and PHP0.45 per liter for gasoline products.

Seaoil and Shell will likewise increase prices of kerosene by PHP0.40 per liter.

According to the Department of Energy (DOE), oil prices ended 2020 lower than its previous year.



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