Economic News

GENERAL SANTOS CITY --- A four-day business fair here involving 70 micro small and medium industries (MSMEs) generated P13.5 million in sales, officials said Friday.The activity, dubbed 3rd treasures of SOCCSKSARGEN, was organized by the office of the Department of Trade in Region 12 and its branches in central Mindanao’s South Cotabato, Sultan Kudarat, North Cotabato and Sarangani provinces and in the cities of Kidapawan, Cotabato, Koronadal, Tacurong and General Santos.Leonard Flores of the industry development division of DTI-12 said Friday the proceeds of the trade expo were from P1 m

COTABATO CITY – The Regional Board of Investments of the Autonomous Region in Muslim Mindanao (RBOI-ARMM) has confirmed that the region is gearing up for a new challenge and is in fact already a major source of Cavendish banana exports to Japan, particularly from Unifrutti Group Philippines.As reported by radio station DZMM, Filipino farmers in conflict-affected Central Mindanao, particularly Maguindanao, which is under ARMM, will supply Cavendish bananas to a Japanese supermarket chain under an agreement that will be signed during President Rodrigo Duterte’s trip to Tokyo this week, Agricu

COTABATO CITY - The Regional Board of Investments of the Autonomous Region in Muslim Mindanao (RBOI-ARMM) in a Joint Meeting of the Board of Governors’ and Management Committee (ManCom) approved yesterday the application of KALTIMEX Rural Energy Corporation (KREC) to register its energy project with RBOI to avail of fiscal and non-fiscal incentives being provided by the government. Kaltimex, a 99.99% Filipino and .01% Indian company will be setting up an 8MW capacity diesel power plant in Bongao, Tawi-Tawi worth P831 million generating 34 jobs.

COTABATO CITY– The Department of Trade and Industry of the Autonomous Region in Muslim Mindanao (DTI-ARMM) is conducting a series of activities in line with the celebration of the 2016 Consumer Welfare Month (CWM).Atty. Anwar Malang, DTI-ARMM secretary, said the 2016 CWM celebration is aimed at promoting consumer empowerment and cooperation among various stakeholders to ensure that consumers are well educated and protected.

LANAO DEL SUR --- Local officials in the fledgling Lumbatan town are experimenting on an automated bank payroll system for municipal employees, the first ever to try such from among 39 towns in Lanao del Sur.Gov.

COTABATO CITY- The Polloc Freeport and Ecozone hit a new record high in terms of revenues when it scored a net income of almost P19 million within the first seven months of the year.The figure is 33.5% higher than its total revenues in 2015, which was only at P12.6 million.Eshan Mabang, Polloc port manager, said various inbound and outbound cargoes were shifted to the Polloc Freeport in Parang, Maguindanao because of the improved trust of the different locator companies and investors in the ARMM government.

PARANG, Maguindanao - Officials are rushing to refurbish the Polloc Port in Parang, Maguindanao in anticipation of expansion in shipping activities after the replacement of the Autonomous Region in Muslim Mindanao with a new Bangsamoro political entity.The Polloc Port southwest of Maguindanao is the ARMM’s largest seaport, a major export-import transshipment point for consumer goods, farm products and petroleum supply from abroad.Records obtained from the office of port manager Mimbalawag Mangutara, Jr.

COTABATO CITY - Agents of the Department of Trade and Industry on Tuesday destroyed more than P30,000 worth of substandard crash helmets and other merchandise seized from different stores.Mary Anne Morales, a senior staff of DTI’s Region 12 office here, said the goods were confiscated and disposed off as part of the department’s consumer welfare and protection thrusts.Morales, one of the DTI-12 employees involved in the seizure operation, said the substandard products --- crash helmets, electrical switches, receptacles, multiple male and female plugs, and circuit tapping devices --- were fi

KIDAPAWAN CITY -Power interruptions in North Cotabato could be lessened to less than an hour once the coal-fired power plant owned by AboitizPower in Davao City becomes fully operational this July, an official from Cotabato Electric Cooperative (Cotelco) said. Cotelco general manager Godofredo Homez said the number of megawatts of power the co-op will purchase from AboitizPower’s Therma South, Inc (TSI) is, at any rate, enough to supply the load needed by their more than 110,000 power consumers all over their service areas.

COTABATO CITY - New investments continue to pour into the Autonomous Region in Muslim Mindanao (ARMM), the core territory of the proposed Bangsamoro political entity. The latest investment to be registered by the Regional Board of Investments (RBOI) is the 5.5 MW additional capacity for the biomass power plant of Lamsan Power Corp. based in Sultan Kudarat, Maguindanao. The investment worth P686.74 million was approved by the RBOI last May 16, 2015 in its board meeting in this city.