Sunday Sep, 19 2021 09:36:33 AM

Economic News

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.

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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.

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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.

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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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Another airline to expand operation in GenSan

GENERAL SANTOS CITY – Another commercial airline is planning to expand soon its air cargo and passenger operations here.

Leonard Flores, head of the City Economic Management and Cooperative Development Office, said Friday the Pan-Pacific Airlines has signified to include the city international airport in its growing logistics air route.

He said top executives of Pan-Pacific, led by its Chief Operating Officer and President Arturo Alejandrino, disclosed the move in a visit here on Thursday.

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PRRD approves fiscal incentives for Islamic investments 

COTABATO CITY - President Rodrigo Roa Duterte has just signed the Investment Priorities (IPP) Plan 2020, investment officials in the Bangsamoro Region in Muslim Mindanao today said. 

The IPP is the government’s blueprint of priority economic activities that qualify for fiscal incentives.

Under Memorandum Order No. 50 signed by Duterte last Thursday, the IPP covers the production or manufacture of medicines, medical equipment and devices, personal protective equipment (PPE), surgical equipment and supplies, among others.

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Indonesian diplomat vows support for North Cotabato

AMAS, Kidapawan City – An economic partnership between North Cotabato and Indonesia has been forged after an Indonesian diplomat visited North Cotabato Gov. Nancy Catamco on Wednesday.

Indonesian Consul General Dicky Fabrian and his staff met with Gov. Catamco at the latter’s office here where both parties agreed in principle to a partnership that will make agricultural products in North Cotabato find its way to Indonesia and products from largest Muslim country in the world send it product to North Cotabato City.

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AboitizPower unit Cotabato Light upgrades power substation, improves reliability

COTABATO CITY – The AboitizPower distribution unit, Cotabato Light and Power Company (Cotabato Light) is currently undergoing a major upgrade of its Malagapas substation.

This upgrade provides the company with an increased energy capacity, ensuring better reliability of power across its franchise area.

The project involves the installation of new electrical equipment, including the addition of a 15-MVA transformer - a new device that is used to control and protect the equipment at the site.

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Lanao del Norte coastal town eyed for fish cage farming

SULTAN NAGA DIMAPORO, Lanao del Norte - On the first leg of a 5-province journey which started Monday, July 13, I dropped by this coastal town, popularly known as SND, to check on its potentials for Bangus Fish Cage Farming.

The meeting with Mayor Mutalib Dimaporo, son of the former mayor after whom the town was named, was quick and informal.

Being old friends, we just sat on benches beside the gymnasium and discussed how the Mindanao Development Authority (MinDA) could assist in the development of his town.

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Soccsksargen towns to benefit P176-M covid response projects from DSWD

KORONADAL CITY---The Department of Social Welfare and Development (DSWD) in Central Mindanao is gearing up for the implementation of 176 million worth of community projects as part of the country’s national pandemic response to cushion the potentially devastating impact of COVID-19.

Cezario Joel C. Espejo, DSWD 12 regional director said Wednesday that the agency has shifted its community-driven development program, Kalahi-CIDSS, from infrastructure to health-related projects in the context of current disaster situation.

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