Economic News

COTABATO CITY -- The National Grid Corporation of the Philippines (NGCP) on Wednesday placed the Mindanao grid on red alert status as power deficiency has worsened.In a statement, Melfrance Capulong, speaking for NGCP-Southern Mindanao, said NGCP was forced to raise the alert level, scheduled from from 9and00 a.m. to 10and00 p.m.

TACURONG CITY –- Business leaders, political and trade and industry officials here have
launched the Tacurong City Negosyo Center as the city has been emerging as
business hub of Sultan Kudarat, officials said today.

I’m glad that we now
have a Negosyo Center because Tacurong City is considered as the business hub
of Sultan Kudarat,” Tacurong City Mayor Lina Montilla said during the
launching.

This will ease the
process of accommodating investments in our city,” she added.

COTABATO CITY -– The
National Grid Corporation of the Philippines (NGCP) today declared Yellow
Alert” as two state-owned hydropower plants in Lanao del Sur remained isolated
from the Mindanao grid.

Yellow alert means there's a possibility of power deficiency and rotational brownout. Power shortage is
seen when classes and industrial works resume on Monday.

PARANG, Maguindanao -- Traders welcomed with optimism the newly-established link between the biggest seaport in the Autonomous Region in Muslim Mindanao and Vietnam.The feat revived the facility past administrations virtually ignored and failed harness to improve ARMM’s economy.

KIDAPAWAN CITY – After 17 years, the city has approved the revisions of its tax code. The Sangguniang Panglungsod has passed on its third and final reading the Revised Revenue Code of Kidapawan City with overwhelming votes. At least nine members of the council voted for its approval. Surprisingly, the chair of the Committee on Finance of the Sanggunian, Councilor Lauro Taynan, opposed the passage of the proposal.

TACURONG
CITY – Massive information drive and aggressive collection
activities of this city’s Treasury Office led to positive results as it
exceeded its targeted local revenue collection, officials said.

Jessie
P. Batchar, Tacurong City Treasurer, said from January to Nov. 16 this year,
the City Treasurer’s Office (CTO) has collected Php92.3 million revenue or a
collection efficiency of 101 percent as compared to its Php91.4 million target
during the same period.

COTABATO CITY -- The Iranuns emerged victorious in Wednesday’s ethnic cuisine contest among chieftains of villages inside the compound here of the Autonomous Region in Muslim Mindanao (ARMM).The ARMM chefs’ challenge was part of the preparatory activities in line with the November 19 commemoration of the 26thfounding anniversary of the autonomous region. The mock tribal villages were built last year as part of the efforts of ARMM Gov.

KIDAPAWAN CITY – The Autonomous Region in Muslim Mindanao (ARMM) joined the Asia-Pacific Economic Conference (APEC) high-level dialogue on inclusive business on Thursday, an official said.The ARMM was represented by laywer Ishak Mastura, chairman and managing head of the ARMM Regional Board of Investments (RBOI).Mastura said that asa concrete manifestation of the Philippine government’s commitment to inclusive economic growth through the inclusive business model, the autonomous region has been included among the delegates.

GEN. SANTOS CITY -- Dozens of entrepreneurs will exhibit in the city until Sunday export-grade domestic food and indigenous products to educate the public on Central Mindanao’s investment potentials.The Department of Trade and Industry (DTI) and domestic producers launched on Nov. 11 here the 2nd Treasures of Region 12,” a trade fair meant to lure in investors and connect local industries to foreign markets.Senior officials of DTI’s office in Region 12 helping oversee the activity said 100 entrepreneurs joined the fair at the SM shopping mall here, to last until Nov.

DAVAO CITY - As hundreds of rubber players, investors and farmers gathered here in the
2nd Philippine Rubber Investment and Market Encounter (PRIME), officials
of the Autonomous Region in Muslim Mindanao (ARMM) did not only showcase what
they had in the promoting rubber industry but also offered investors hard to
decline tax-free incentives.