The Philippine Economy

[leofriends]

grabe.... exiting na to...

[CebuMagigger]

Originally Posted by RonnieR

Your suggestion is good with regard to dissecting the news. I doubt if it can be done here since some Filipinos have closed their minds that P. Noy is a failure. That's the difficulty, if there are good news, they will shoot it down or just remain silent however, if there bad news articles just like what boypad did, they will suddenly appear and as if they're happy on the failures! That is disturbing.

this is so true
they seem so happy with negative news rather than good news...

i dnt get you guys... :/

[CebuMagigger]

Originally Posted by RonnieR

Here. This refers to a toll road.

http://www1.ijonline.com/infrastruct...rticleid=72756

Philippines' president promises PPP award by year-end
By René Lavanchy, 30th September

The Philippines will award the first transport PPP project in its current programme in December, President Benigno Aquino said this week.
The statement comes amid an apparent loss of momentum in the programme, with no major announcements on procurement of the projects in recent months, besides the launch of a tender for a vaccine project.

Originally Posted by RonnieR

Japan's Murata to build chip plant in PHL
AMITA O. LEGASPI, GMA News Online
09/28/2011 | 06:58 PM

A Japanese electronics components firm, Murata Manufacturing Co. Ltd., is set to establish a 23-hectare chip capacitor plant in the country, a Malacañang official said.

Presidential Communications Operations head Sonny Coloma Jr. relayed the information to reporters Tuesday following the business meeting President Benigno Aquino III had with Murata officials at the Imperial Hotel in Tokyo, Japan.

The information was released to Malacañang reporters Wednesday.

He added Murata plans to bring to the Philippines a new generation of technology in chip manufacturing through the factory it will set up in the First Philippine Industrial Park in Laguna.

Coloma showed members of the Philippine media delegation covering the President’s official visit to Japan a sample of the so-called “monolithic ceramic microchip capacitor."

He said the product would be available to the Philippine electronics industry by October 2012 as Murata targets to complete its 23-hectare factory by then.

“You will see how microscopic the chips are — very small… This is the new generation of technology in chips manufacturing and Murata is establishing the plant in the Philippines," Coloma told reporters during a press briefing at Tokyo Kaikan.

Coloma described Murata company as “one of the world’s largest makers of electronic components used in many devices such as computers, mobile phones, automotive navigation, airbag systems and medical equipment."

Originally based in Nagaokakyo, Kyoto, Murata was started by its honorary chairman, Akira Murata, as a personal venture in October 1994. At present, it is considered as the leading company in manufacturing ceramic passive electronic components, primarily capacitors, and it has an overwhelming worldwide market share of ceramic filters, high frequency parts, and sensors.

Murata Manufacturing reportedly has 23 subsidiaries in Japan and 31 overseas, including those in the United States, Mexico, Brazil, Germany, France, Italy, United Kingdom, Ireland, Switzerland, the Netherlands, Spain, Sweden, Hungary, Finland, Singapore, Malaysia, Philippines, Taiwan, Thailand, Hong Kong, Korea, and China.

Business prospects

More business leaders met with Aquino Wednesday, hours before his departure for Manila, Malacañang said.

Members of the Asian Business Council led by Nobuyuki Idei, long-time CEO of Sony Corp., spoke with the President to discuss business prospects for the Philippines as they conveyed great interest to invest in the country.

Yoshihiko Miyauchi, chairman and CEO of Orix Corp., observed that the level of Japanese investments in the Philippines seemed to have slowed and his company would like this situation to be improved significantly, Coloma said.

“He [Miyauchi] noted that the timing of the President’s visit is quite good as many Japanese companies are willing to invest in the country. He mentioned ship-building as an industry with good potential," Coloma added.

Idei reported that Sony recently established a call center in the Philippines. President Aquino earlier cited the business process outsourcing industry as one of the major contributors to government revenues — about P14 billion, with 640,000 jobs generated.

Council members are interest in knowing which are the strategically important businesses in the Philippines today. The President told them that tourism is on top of the list as it can be considered a “low-lying fruit."

Quoting Finance Secretary Cesar Purisima, Coloma said the ASEAN integration will be realized by 2013 and this will be a good investment opportunity for Japanese companies.

Apart from his Cabinet secretaries, President Aquino was accompanied by members of his business delegation led by SM Investments Corp.’s vice chairman Tessie Sy-Coson and Magsaysay Maritime Co.’s chief executive officer Doris Magsaysay-Ho.

After his engagement with the Asian Business Council, the President met with members of the Japan Shipowners’ Association (JSA) led by its president Akimitsu Ashida. Coloma said President Aquino thanked JSA for its “continuing efforts to combat piracy, especially in Somalia, to ensure the safety of Filipino seafarers".

JSA companies employ around 35,000 Filipino seafarers and they continue to make substantial investments in equipment to upgrade training and development, according to Eduardo Manese, president of the Philippine-Japan Manning Consultative Council and chairman of Magsaysay Maritime Corp. — VS, GMA News

http://www.gmanews.tv/story/233693/b...p-plant-in-phl

thats more like it!

[mwg12a]

Originally Posted by dancethingy

This thread is fast becoming a

GOOD NEWS VS BAD NEWS THREAD

It's shouldn't be that way.

There should be a genuine discussion regarding the Economic policies of Aquino and the different platforms that affect our economic growth.

Economic discussion is more than POSTING ARTICLES, good or bad, its about dissecting the information in these articles and determining through research and brainstorming if they are trully bad news, good news, new news, or old news.

I am a true Aquino skeptic and posting articles in general won't alleviate my concerns that he is an inefficient President. In regards to economics, it is safe to say that his inferiority is only second to Estrada.

I see no direction from his economic team. He hasn't even addressed the dismal growth of the last quarter and what he intends to do to reverse the downward trend. In fact he has signaled that he intends to continue policies that has contributed to it.

Originally Posted by RonnieR

Your suggestion is good with regard to dissecting the news. I doubt if it can be done here since some Filipinos have closed their minds that P. Noy is a failure. That's the difficulty, if there are good news, they will shoot it down or just remain silent however, if there bad news articles just like what boypad did, they will suddenly appear and as if they're happy on the failures! That is disturbing.

I cannot agree more. I noticed these also, they wanted Aquino to fail even if it means failure for the whole country. They don't care, they just don't like Aquino so if they see a positive news, they call it "propaganda" a paid news article, but when it's a bad news they rejoiced . I, myself, picked up bad news articles and make sense to it just to create a constructive criticism.

Originally Posted by dancethingy

Its hard to figure out whether the news we are getting are written in stone or just plain pandering.

That's why its so hard to gauge the effect of pledges of expansion from certain companies. But they are good news nonetheless, and even better when companies follow through on their pledges.

Seeing is believing, that's why im a big advocate for infrastructure development. It's an instant job maker and improves quality of life quicker. Its what we need! I don't feel this urgency from this admin, that's what troubles me.

I think that's the slogan you hear from Obama which you are heeding then used it as a gauge for economic recovery which is not necessarily the best way to do it, it is just one way to build the economy but certainly the real answer for it. Haven't we learned these from Arroyo administration? What if there are more new roads and newer infrastructures being built just like in Arroyo's term? Did it create more jobs back then despite the claims of higher GDP and investments? Isn't it the answer there was "NO" even to this day and age.. Why? It still boils down to the wrong policies passed on from different administration down to Noynoy Aquino. You'd be surprised, once these policies are changed with just the few infrastructures already in placed or built in the past, more investment would come pouring in , once that happen you would expect even more infrastructure being built. We see these here in the US, more infrastructure being built in the midst of the economic crisis thinking these would create jobs, where is the US now? 9% rate of unemployment and there is a very dim outlook on job creation despite Obama's new project that is being project to only effect 1% which is not very promising. That notion about having more infrastructure first before new job creation is as good as the same principle as "which one comes first? The egg or the Chicken" sorry, this is how I see it over the years...

[InfinitiFX45]

Philippines’ manufacturing output rises

By: Ronnel W. Domingo Philippine Daily Inquirer 9:54 pm | Thursday, September 29th, 2011

http://business.inquirer.net/22081/p...g-output-rises

Eight industries posted hefty gains

The growth in the value and volume of manufacturing output accelerated in July, reaching 6.7 percent and 6.8 percent year on year, respectively, according to the National Statistics Office.

NSO data show that in July, growth in value improved from 3.5 percent in June while volume grew at a faster pace from 1.2 percent.

Results from the agency’s latest monthly integrated survey of selected industries (MISSI)—which covers 20 major industries—showed that the index grew faster as eight industries recorded two-digit increases in output value.

Leading the gainers were furniture and fixtures with 46.6 percent and publishing and printing with 42 percent.

Also growing in two-digit rates were petroleum products (31.2 percent), paper and paper products (28.8 percent), rubber and plastic products (17.7 percent), beverage (14.3 percent), chemical products (13.1 percent) and basic metal products (11.1 percent).

Other gainers in July were food manufacturing, footwear and wearing apparel, transport equipment, miscellaneous manufactured items, and leather products.

On the other hand, seven sectors showed reduced output value led by non-electrical machinery (-34.7 percent), and wood and wood products (-28.1 percent).

Other losers were electrical machinery, non-metallic mineral products, textiles, tobacco, and fabricated metal products.

In terms of volume, significant increases were observed in seven industries led by furniture and fixtures (134.7 percent), and publishing and printing (42 percent).

Also showing double-digit volume growth rates were paper and paper products (32.9 percent), beverages (18.8 percent), miscellaneous manufactures (14.3 percent), chemicals (12.9 percent), and rubber and plastic products (12.8 percent).

Other volume gainers were electrical machinery, footwear and wearing apparel, petroleum products, transport equipment, leather and basic metals.

There were seven losers in terms of volume led by non-electrical machinery (-32.9 percent), wood and wood products (-28.1 percent) and textiles (-10.8 percent).

Other losers were food manufacturing, tobacco, non-metallic minerals, and fabricated metals.

[InfinitiFX45]

Govt to build all transport projects

by Jeremiah F. de Guzman

http://www.manilastandardtoday.com/i...1/september/30

The Transport Department said Thursday it will build all its infrastructure projects and will not entertain proposals from the private sector to reduce cost.

Transportation Secretary Manuel Roxas told reporters Thursday the agency would tap official development assistance loans to finance the projects and eventually privatize them.

“We studied and reconfigured the financing element and the sequencing element so that we can have these at the lowest possible cost to the public,” Roxas said.

He said the government would build large and basic hard infrastructure by availing low-interest ODA loans. He added the government will privatize the operation and maintenance aspects once the infrastructure is completed.

“What we are trying to do in reconfiguring is to put the market risks to the private sector. The execution risks, meaning the building of the infrastructure with the low-cost money, will be on the government side,” Roxas said. He called the mode a “hybrid-PPP scheme.”

“This way, the government knows exactly what it will pay and what it is going to get for the resource, while the private sector then bears the market risks for undertaking the O&M,” he added.

Roxas enumerated priority projects that include Light Rail Transit Line 1 extension to Bacoor in Cavite, LRT 2 extension to Masinag in Antipolo, airport development projects in Puerto Princesa and Laguindingan and the additional low-cost terminal in Mactan International Airport.

He said the Korean, Japanese and Chinese governments have expressed interest to assist to provide funding for LRT 1 South Extension project. The Romero group in 2009 earlier submitted an unsolicited proposal to build the project.

The extension of the LRT Line 1 South Extension will feature a 16-kilometer stretch from Baclaran station to Imus, Cavite.

Roxas said the Korean and the Japanese governments were also willing to fund the LRT 2 extension project. This project, including the line’s extension to Divisoria in Manila, was earlier estimated to cost P15.72 billion.

Roxas said the hybrid-PPP scheme would cut the cost of projects because of cheap foreign funds that would eventually result in lower cost of transportation.

The government will just pay a 1-percent interest rate spread over 30 years on ODA loans, compared with commercial bank rates of 7 percent to 8 percent annually for the same period.

[InfinitiFX45]

More PPP projects for 2012

http://www.manilastandardtoday.com/i...1/september/30

As a flagship program of the Aquino administration, the “Public-Private Partnership” projects remain on top of the agenda for the year 2012, a senior official said.

“The PPP will be one of the priority projects of President Aquino for next year because the Chief Executive sees it as an economic driver in national governance,” said Budget Undersecretary Mario Relampagos.

The DBS group, a Singaporean holding company, expects the construction of public-private partnership infrastructure projects next year.

According to the DBS group, “the growth momentum for domestic output would also depend on the recovery of overseas demand for Philippine exports.”

The group also disclosed that more foreign direct investments are expected until the end of 2011 because “the second-quarter inflow of P40.6 billion was three times the figure reported in the same period of last year.”

These indications reflect the government’s intensified efforts in attracting foreign funds and investment commitments.

Officials of the Finance Department pronounced that bidding for contracts on a new tollway system and other five major projects are due this year.

“The government is bent on fulfilling its part on strategic infrastructure projects. We are committed in following the policy of President Aquino that is ‘Kung walang corrupt, walang mahirap,’’ added Relampagos.

For the improvement of roads, agriculture, and other important projects, the DBM is set to release P14 billion next year. “For hospital and school building facilities, another P8 billion was allocated,” he added.

The administration has revealed the 10 projects intended for the PPP program, eight of which are under the Transportation and Communications Department while the other two are with the Public Works Department.

The projects to be handled by the Transportation Department, under the PPP program, includes the privatization of the operation and maintenance of the Light Rail Transit Line 1 and of the Metro Rail Transit Line 3, LRT 1 South Extension and privatization through concession, LRT Line 2 East Extension Project, the New Bohol Airport Development, Puerto Princesa Airport Development, New Legaspi Airport Development, and the Privatization of Laguindingan Airport Operation and Maintenance.

The government has earmarked around $1.3 billion, while the private sector has to contribute at least $1 billion for the realization of the eight projects.

For the Public Works Department, the 27.5-kilometer Cavite side section of the Cavite-Laguna Expressway will be allocated with a $262-million budget while the second phase of the Ninoy Aquino International Airport Expressway will have a $253.33 million worth of investments.

The PPP program refers to the collaboration of private investors with government agencies and institutions in building infrastructure—roads, hospitals, and airports—with private entities participate in completion of the project for a given period.

[mwg12a]

Originally Posted by InfinitiFX45

Govt to build all transport projects

by Jeremiah F. de Guzman

http://www.manilastandardtoday.com/i...1/september/30

The Transport Department said Thursday it will build all its infrastructure projects and will not entertain proposals from the private sector to reduce cost.

Transportation Secretary Manuel Roxas told reporters Thursday the agency would tap official development assistance loans to finance the projects and eventually privatize them.

“We studied and reconfigured the financing element and the sequencing element so that we can have these at the lowest possible cost to the public,” Roxas said.

Roxas said the Korean and the Japanese governments were also willing to fund the LRT 2 extension project. This project, including the line’s extension to Divisoria in Manila, was earlier estimated to cost P15.72 billion.

Roxas said the hybrid-PPP scheme would cut the cost of projects because of cheap foreign funds that would eventually result in lower cost of transportation.

The government will just pay a 1-percent interest rate spread over 30 years on ODA loans, compared with commercial bank rates of 7 percent to 8 percent annually for the same period.

I like this idea.

Originally Posted by InfinitiFX45

More PPP projects for 2012

http://www.manilastandardtoday.com/i...1/september/30



For the Public Works Department, the 27.5-kilometer Cavite side section of the Cavite-Laguna Expressway will be allocated with a $262-million budget while the second phase of the Ninoy Aquino International Airport Expressway will have a $253.33 million worth of investments.

The PPP program refers to the collaboration of private investors with government agencies and institutions in building infrastructure—roads, hospitals, and airports—with private entities participate in completion of the project for a given period.

I kind of wonder where this Ninoy Aquino International Airport Expressway is...

[InfinitiFX45]

Palace offers outsourcing training to universities

by Maricel Cruz

http://www.manilastandardtoday.com/i...1/september/30

THE Palace is considering spending P1 billion to train students and faculty in state universities and colleges to work in call centers and other outsourced services, Budget Secretary Florencio Abad said Thursday.

Abad, criticized for cutting funding to state universities, said he had already submitted a feasibility study on the program to President Benigno Aquino III, and that it would take three months to carry out.

He said “a little over a billion pesos” would be required to train about 62,000 potential applicants with a guarantee that about 37,000 will be hired.

“We have in fact submitted to the President an additional budget of P500 million [for this purpose],” Abad told reporters.

He did not itemize the spending or fund sources, saying only that the amount would be used by lead agencies such as the Technical Education and Skills Development Authority, the Commission on Higher Education, and the Education Department, which will carry out the program in partnership with the business process outsourcing industry.

“This is on top of what is going to be provided in the General Appropriations Act,” Abad said.

“We will include them as part of the additional expenditures that we have put together, that the administration is going to implement over the next three months to further accelerate the government’s spending program.’’

[InfinitiFX45]

'Phl in better position to withstand new crisis'

by Iris C. Gonzales (The Philippine Star) Updated October 01, 2011 12:00 AM

http://www.philstar.com/Article.aspx...ticleId=732607

MANILA, Philippines - The Philippines is in a better position to withstand another global crisis which may be triggered by uncertainties in the Eurozone and in the United States, the country’s economic managers told investors in a mid-year economic briefing yesterday.

“Nobody is going to be immune but we’re in a better position now,” Finance Secretary Cesar Purisima said yesterday.

The Finance chief noted that from a fiscal standpoint, the government posted a significantly better-than-expected fiscal position as of end-August.

Latest data showed that the National Government recorded a surplus of P9.220 billion in August on the back of higher revenues and despite a slight increase in spending.

This brought the January to August fiscal position to a deficit of P34.493 billion, narrower than the P228.104-billion budget gap incurred in the same period last year.

The P9.220-billion surplus is 599 percent higher than the P1.319 billion surplus recorded in the same period last year.

Revenues during the month rose to P124.148 billion or 15.16 percent higher than the P107.806 billion a year ago.

Expenditures during the month rose by 15.16 percent to P114.928 billion from P106.487 billion disbursed in the same period last year.

Last week ago, fears of another global financial shock spread like wild fire.

Investors’ panic was largely fueled by announcements from the Federal Reserve of the possibility of serious risks from the US.

Aside from having a strong fiscal position, the country has also diversified its trade and this has also helped cushion the economy, Purisima said. “Our trade mix has increased more toward Asia,” he said.

The Finance chief also said that the uncertainties in the US and in Europe should encourage investors to seek opportunities in emerging markets such as the US. “We have a lot of fiscal space if in case we need to stimulate the economy,” Purisima also said.

The government has set a budget deficit ceiling of roughly P300 billion this year or 3.2 percent of gross domestic product (GDP).

[mwg12a]

Originally Posted by InfinitiFX45

Palace offers outsourcing training to universities

by Maricel Cruz

http://www.manilastandardtoday.com/i...1/september/30

THE Palace is considering spending P1 billion to train students and faculty in state universities and colleges to work in call centers and other outsourced services, Budget Secretary Florencio Abad said Thursday.

“We will include them as part of the additional expenditures that we have put together, that the administration is going to implement over the next three months to further accelerate the government’s spending program.’’

Now, i'm iffy on this one, but I guess that's better than not doing anything to create more jobs. I hope they would open it to HS grads who can't afford to go to college or atleast those poor filipinos in HS level only.

[InfinitiFX45]

Yuan, rupiah, peso most resilient

by LILIAN KARUNUNGAN (Bloomberg) September 30, 2011, 1:42am

http://www.mb.com.ph/articles/336127...most-resilient

MANILA, Philippines — The Chinese yuan, Indonesian rupiah and Philippine peso are likely to prove the most resilient of Asia’s emerging-market currencies as large domestic economies help China, Indonesia, and the Philippines withstand a global slowdown, Western Asset Management Co. said.

“They are more domestic-demand driven,” the fund manager, part of Baltimore-based Legg Mason Inc., said in a press release that didn’t identify the authors. Policy makers in China and Indonesia favor appreciation to help contain inflation, while the Philippine peso will be supported by remittances from overseas workers, the statement said.

The Philippine peso strengthened 0.7 percent to 43.54 per dollar today in Manila, according to Tullett Prebon Plc.

Remittances sent home by Philippine citizens living abroad amounted to $1.7 billion in July, boosting this year’s tally to $11.35 billion, the central bank said on Sept. 15. The funds account for about 10 percent of the Philippines’ $200 billion economy and help fuel consumer spending.

The yuan has strengthened 1.1 percent against the dollar this quarter, making it the sole gainer among Asia’s 10 most-used currencies excluding the yen. The rupiah fell 4.2 percent and the peso slid 0.5 percent, according to data compiled by Bloomberg. South Korea’s won is the region’s worst performer, having tumbled 9.2 percent.

Indonesia is the world’s most-populous Muslim nation and has Southeast Asia’s biggest economy. President Susilo Bambang Yudhoyono said last month that economic growth may reach 6.5 percent this year, the fastest since the 1998 Asian financial crisis, even with recent shocks to the global economy. Domestic demand accounts for about 56 percent of gross domestic product.

The rupiah gained 0.4 percent to 8,870 per dollar today in Jakarta, following a 1.7 percent advance yesterday, according to prices from local banks compiled by Bloomberg. It fell 3.1 percent on Sept. 26 and retreated in each of the last three weeks. Bank Indonesia said as recently as last week it’s been selling dollars this month to support the rupiah.

The nation’s inflation rate rose to 4.79 percent in August from 4.61 percent the previous month, official figures show. Data next week are expected to show consumer-price gains accelerated to 4.9 percent this month, based on the median estimate in a Bloomberg survey of economists.

[CebuMagigger]

Originally Posted by InfinitiFX45

Philippines’ manufacturing output rises

By: Ronnel W. Domingo Philippine Daily Inquirer 9:54 pm | Thursday, September 29th, 2011

http://business.inquirer.net/22081/p...g-output-rises

Eight industries posted hefty gains

The growth in the value and volume of manufacturing output accelerated in July, reaching 6.7 percent and 6.8 percent year on year, respectively, according to the National Statistics Office.

NSO data show that in July, growth in value improved from 3.5 percent in June while volume grew at a faster pace from 1.2 percent.

Results from the agency’s latest monthly integrated survey of selected industries (MISSI)—which covers 20 major industries—showed that the index grew faster as eight industries recorded two-digit increases in output value.

Leading the gainers were furniture and fixtures with 46.6 percent and publishing and printing with 42 percent.

Also growing in two-digit rates were petroleum products (31.2 percent), paper and paper products (28.8 percent), rubber and plastic products (17.7 percent), beverage (14.3 percent), chemical products (13.1 percent) and basic metal products (11.1 percent).

Other gainers in July were food manufacturing, footwear and wearing apparel, transport equipment, miscellaneous manufactured items, and leather products.

On the other hand, seven sectors showed reduced output value led by non-electrical machinery (-34.7 percent), and wood and wood products (-28.1 percent).

Other losers were electrical machinery, non-metallic mineral products, textiles, tobacco, and fabricated metal products.

In terms of volume, significant increases were observed in seven industries led by furniture and fixtures (134.7 percent), and publishing and printing (42 percent).

Also showing double-digit volume growth rates were paper and paper products (32.9 percent), beverages (18.8 percent), miscellaneous manufactures (14.3 percent), chemicals (12.9 percent), and rubber and plastic products (12.8 percent).

Other volume gainers were electrical machinery, footwear and wearing apparel, petroleum products, transport equipment, leather and basic metals.

There were seven losers in terms of volume led by non-electrical machinery (-32.9 percent), wood and wood products (-28.1 percent) and textiles (-10.8 percent).

Other losers were food manufacturing, tobacco, non-metallic minerals, and fabricated metals.

Originally Posted by InfinitiFX45

More PPP projects for 2012

http://www.manilastandardtoday.com/i...1/september/30

As a flagship program of the Aquino administration, the “Public-Private Partnership” projects remain on top of the agenda for the year 2012, a senior official said.

“The PPP will be one of the priority projects of President Aquino for next year because the Chief Executive sees it as an economic driver in national governance,” said Budget Undersecretary Mario Relampagos.

The DBS group, a Singaporean holding company, expects the construction of public-private partnership infrastructure projects next year.

According to the DBS group, “the growth momentum for domestic output would also depend on the recovery of overseas demand for Philippine exports.”

The group also disclosed that more foreign direct investments are expected until the end of 2011 because “the second-quarter inflow of P40.6 billion was three times the figure reported in the same period of last year.”

These indications reflect the government’s intensified efforts in attracting foreign funds and investment commitments.

Officials of the Finance Department pronounced that bidding for contracts on a new tollway system and other five major projects are due this year.

“The government is bent on fulfilling its part on strategic infrastructure projects. We are committed in following the policy of President Aquino that is ‘Kung walang corrupt, walang mahirap,’’ added Relampagos.

For the improvement of roads, agriculture, and other important projects, the DBM is set to release P14 billion next year. “For hospital and school building facilities, another P8 billion was allocated,” he added.

The administration has revealed the 10 projects intended for the PPP program, eight of which are under the Transportation and Communications Department while the other two are with the Public Works Department.

The projects to be handled by the Transportation Department, under the PPP program, includes the privatization of the operation and maintenance of the Light Rail Transit Line 1 and of the Metro Rail Transit Line 3, LRT 1 South Extension and privatization through concession, LRT Line 2 East Extension Project, the New Bohol Airport Development, Puerto Princesa Airport Development, New Legaspi Airport Development, and the Privatization of Laguindingan Airport Operation and Maintenance.

The government has earmarked around $1.3 billion, while the private sector has to contribute at least $1 billion for the realization of the eight projects.

For the Public Works Department, the 27.5-kilometer Cavite side section of the Cavite-Laguna Expressway will be allocated with a $262-million budget while the second phase of the Ninoy Aquino International Airport Expressway will have a $253.33 million worth of investments.

The PPP program refers to the collaboration of private investors with government agencies and institutions in building infrastructure—roads, hospitals, and airports—with private entities participate in completion of the project for a given period.

Originally Posted by InfinitiFX45

Palace offers outsourcing training to universities

by Maricel Cruz

http://www.manilastandardtoday.com/i...1/september/30

THE Palace is considering spending P1 billion to train students and faculty in state universities and colleges to work in call centers and other outsourced services, Budget Secretary Florencio Abad said Thursday.

Abad, criticized for cutting funding to state universities, said he had already submitted a feasibility study on the program to President Benigno Aquino III, and that it would take three months to carry out.

He said “a little over a billion pesos” would be required to train about 62,000 potential applicants with a guarantee that about 37,000 will be hired.

“We have in fact submitted to the President an additional budget of P500 million [for this purpose],” Abad told reporters.

He did not itemize the spending or fund sources, saying only that the amount would be used by lead agencies such as the Technical Education and Skills Development Authority, the Commission on Higher Education, and the Education Department, which will carry out the program in partnership with the business process outsourcing industry.

“This is on top of what is going to be provided in the General Appropriations Act,” Abad said.

“We will include them as part of the additional expenditures that we have put together, that the administration is going to implement over the next three months to further accelerate the government’s spending program.’’

Originally Posted by InfinitiFX45

'Phl in better position to withstand new crisis'

by Iris C. Gonzales (The Philippine Star) Updated October 01, 2011 12:00 AM

http://www.philstar.com/Article.aspx...ticleId=732607

MANILA, Philippines - The Philippines is in a better position to withstand another global crisis which may be triggered by uncertainties in the Eurozone and in the United States, the country’s economic managers told investors in a mid-year economic briefing yesterday.

“Nobody is going to be immune but we’re in a better position now,” Finance Secretary Cesar Purisima said yesterday.

The Finance chief noted that from a fiscal standpoint, the government posted a significantly better-than-expected fiscal position as of end-August.

Latest data showed that the National Government recorded a surplus of P9.220 billion in August on the back of higher revenues and despite a slight increase in spending.

This brought the January to August fiscal position to a deficit of P34.493 billion, narrower than the P228.104-billion budget gap incurred in the same period last year.

The P9.220-billion surplus is 599 percent higher than the P1.319 billion surplus recorded in the same period last year.

Revenues during the month rose to P124.148 billion or 15.16 percent higher than the P107.806 billion a year ago.

Expenditures during the month rose by 15.16 percent to P114.928 billion from P106.487 billion disbursed in the same period last year.

Last week ago, fears of another global financial shock spread like wild fire.

Investors’ panic was largely fueled by announcements from the Federal Reserve of the possibility of serious risks from the US.

Aside from having a strong fiscal position, the country has also diversified its trade and this has also helped cushion the economy, Purisima said. “Our trade mix has increased more toward Asia,” he said.

The Finance chief also said that the uncertainties in the US and in Europe should encourage investors to seek opportunities in emerging markets such as the US. “We have a lot of fiscal space if in case we need to stimulate the economy,” Purisima also said.

The government has set a budget deficit ceiling of roughly P300 billion this year or 3.2 percent of gross domestic product (GDP).

2012 may be Philippines' big break... HOPEFULLY!

keep em good news comin!

[InfinitiFX45]

Globe brings US Entrepreneur Program

by EMMIE V. ABADILLA September 30, 2011, 1:42am

http://www.mb.com.ph/articles/336126...reneur-program

MANILA, Philippines — Next month, Globe Telecom, in partnership with local web engineering firm Proudcloud, will launch Startup Weekend Manila, patterned after one of the most successful start-up accelerator programs from the United States.

Startup Weekend is a 54-hour event where developers, designers, marketers, technopreneurs, and venture capitalists come together to share ideas, form teams, build products, and launch startup businesses.

Startup Weekends are specifically designed for entrepreneurs interested in receiving feedback for an idea, looking for a co-founder, or who want to learn a new skill, especially in the field of mobile and internet applications.

The concept quickly became a global movement to generate breakthrough ideas in communities all over the world, taking digital start-ups businesses from ideas to investment readiness through intensive mentoring from industry experts and access to mobile markets and investors across Asia.

Aside from the Philippines, Startup Weekends will also be held in Australia, India, Indonesia, Singapore, and Thailand.

Over 100 participants are expected to join Startup Weekend Manila which will be held on October 21-23, 2011 at the Mint College, Fort Bonifacio, Taguig City.

Participants will have the opportunity to be acquainted with one another, pitch startup concepts and form teams around the most popular ideas. They then refine the ideas and start building product prototypes with the help of their respective mentors, and then present what they have accomplished in the form of a short pitch and demo.

From the Startup Weekend group in Manila, fifteen (15) teams will be shortlisted to qualify for the 100-day bootcamp to be held in Singapore in January 2012.

Teams of developers and entrepreneurs will receive S$15,000 each to help finance and start their businesses. The teams will also get the privilege to pitch to international investors.

“This global innovation exercise seeks to showcase the best ideas, talents, and resources for future businesses,” according to Minette Navarrete, Head of Globe New Business Group.

[Sleepwalker]

Originally Posted by InfinitiFX45

Govt to build all transport projects

by Jeremiah F. de Guzman

http://www.manilastandardtoday.com/i...1/september/30

The Transport Department said Thursday it will build all its infrastructure projects and will not entertain proposals from the private sector to reduce cost.

Transportation Secretary Manuel Roxas told reporters Thursday the agency would tap official development assistance loans to finance the projects and eventually privatize them.

“We studied and reconfigured the financing element and the sequencing element so that we can have these at the lowest possible cost to the public,” Roxas said.

He said the government would build large and basic hard infrastructure by availing low-interest ODA loans. He added the government will privatize the operation and maintenance aspects once the infrastructure is completed.

“What we are trying to do in reconfiguring is to put the market risks to the private sector. The execution risks, meaning the building of the infrastructure with the low-cost money, will be on the government side,” Roxas said. He called the mode a “hybrid-PPP scheme.”

“This way, the government knows exactly what it will pay and what it is going to get for the resource, while the private sector then bears the market risks for undertaking the O&M,” he added.

Roxas enumerated priority projects that include Light Rail Transit Line 1 extension to Bacoor in Cavite, LRT 2 extension to Masinag in Antipolo, airport development projects in Puerto Princesa and Laguindingan and the additional low-cost terminal in Mactan International Airport.

Is this a low-cost carrier or low-cost terminal? Hanep, Cebu lang ata ang tinipid...

[InfinitiFX45]

PHL economy fit to face impact of another global crisis

by JMT/VS, GMA News – Finance chief 09/30/2011 | 05:18 PM

http://www.gmanews.tv/story/233892/b...-finance-chief

Should the ongoing uncertainties in the US and Europe trigger another financial crisis, the Philippines is in a much better position to withstand its potential impact, economic managers told investors during the mid-year economic briefing Friday.

Finance Secretary Cesar Purisima said that the country's fiscal standpoint is significantly better than expected as of end-August.

“Nobody is going to be immune but we’re in a better position now," Purisima said.

Latest data from the national government indicate that it posted a P9.22-billion surplus in August, due largely to a slight increase in government spending and higher revenue collections.

In the first eight months of the year, the country's deficit was pegged at P34.493, from P228.104 billion budget gap a year earlier.

August revenues rose slightly to P124.148 billion, up 15.16 percent P107.806 billion posted in August last year.

Expenditures rose by 15.16 percent to P114.928 billion.

Fears of another financial meltdown spread anew as the Federal Reserve announced the possibility of serious risks from Western markets.

Purisima, however, noted that the country's diversified trade dealings will help cushion the economy from such a development.

“Our trade-mix has increased more toward Asia," he said.

The Finance chief noted that the country now has a "lot of fiscal space" should the need to stimulate the economy arise. He added that the uncertainties from Western markets should prompt investors to seek opportunities in emerging markets such as the Philippines.

[InfinitiFX45]

Manufacturing growth picks up

by C. A. C. Valeroso Posted on September 30, 2011 12:04:37 AM

http://www.bworldonline.com/content....ks-up&id=39191

FACTORY OUTPUT growth accelerated to 6.8% in July, data from the National Statistics Office (NSO) showed, but experts said this was not enough to hasten economic activity.

July’s gain, as measured by changes in the volume of production index, was better than the revised 1.2% in June but way lower than the 21.7% recorded in July 2010.

An industry official attributed the growth to demand from local consumers, while another described July’s gain as insignificant.

“Manufacturing [in July] was mostly for domestic consumption,” said Sergio R. Ortiz-Luis, Jr., Philippine Exporters Confederation, Inc. president, pointing to sluggish merchandise export growth in July.

Growth in merchandise exports slowed down to 1.7% in July, significantly lower than the 49.4% jump 12 months earlier.

Federation of Philippine Industries Chairman Jesus L. Arranza, meanwhile, said: “There were no substantial changes in our output”.

On the average, factories used up 83.3% of capacity in July, nearly the same as June, the NSO reported.

University of the Philippines economist Benjamin E. Diokno agreed, saying July’s factory output was weak.

“Looking at the industry-to-industry level, [factory output] growth seems to be a mixed bag,” Mr Diokno said, pointing to a continued decline in production volumes of food and construction materials.

Year-on-year, food manufacturing went down by 4.7%. With May the exception, food manufacturing has been going down since March.

Construction materials also lost ground, with iron and steel down by 25.4%, fabricated metal products by 3.5%, glass and glass products by 5.1%, and cement by 5.1%. Basic metals rose by only 0.1%.

Manolito P. Madrasto, executive director of the Philippine Constructors Association, Inc., said the industry was dependent on public spending, which has been encountering bottlenecks.

“There was low government spending, thus, nearly no demand for construction services,” he said. “This explains why there was not much manufacturing of construction materials.”

Of the 20 major sectors, furniture and fixtures led gainers, with an annual 134.7% growth.

Electrical machinery production rose by 5.7%, reversing the 0.8% contraction recorded in June. Another index mover, petroleum products, posted a 1.7% increase, albeit slower than the 16.1% recorded the previous month.

Other sectors that posted double-digit gains were publishing and printing (42.0%), paper and paper products (32.9%), beverages (18.8%), miscellaneous manufactures (14.3%), chemical products (12.9%), and rubber and plastic products (12.8%).

[InfinitiFX45]

Gov leads groundbreaking for CamSur coco water plant

(The Philippine Star) Updated October 01, 2011 12:00 AM

http://www.philstar.com/Article.aspx...ticleId=732612

PILI, Camarines Sur, Philippines – The efforts of Camarines Sur Gov. Luis Raymund Villafuerte to develop a food terminal complex that would not only service the province’s agro-industrial sector but also bring in investors received a major boost with the groundbreaking for a coconut water packing plant by an international food conglomerate.

The first facility to rise in the food terminal complex that is currently being developed is the coconut water packing plant to be operated by Vita Coco, in partnership with local firm AgriNurture Inc. (ANI).

An initial investment of $5 million has been earmarked for the construction of the plant, which is expected to cash in on the fast-growing demand for coconut water in the local and international consumer markets. Another $10 million has been allocated for the large-scale planting of coconut trees in the Bicol region in the next few years.

“This will be a big boost to the province’s agro-industrial sector in general and the coconut industry in particular. Aside from providing jobs to our people, this will also open doors for local agro-industrial and food production and processing firms to put up their facilities in this food terminal complex, either on their own or in partnership with foreign firms,” Villafuerte pointed out.

According to Jonathan Burth, Vita Coco director for operations, the necessary resources have been lined up, the engineering plans completed and clearing of the plant site has started. With the purchase of equipment having been completed and construction set to commence, he projected that the plant will be fully operational by May 2012, initially producing 8ml bottles of coconut water.

Coconut water is enjoying an increasing popularity as a health drink in major foreign markets such as the continental United States, and demand is expected to rise. Even world-renowned celebrities are cashing in on the coconut water craze, with pop icon Madonna already a part-owner of Vita Coco, and popular recording artist Rihanna lined up, among others, as an endorser for Vita Coco.

Founder and CEO Michael Kirban said that Vita Coco is made from 100 percent natural coconut water and contains five essential electrolytes, including potassium, sodium, magnesium, calcium and phosphorous, and contains 15 more times electrolytes than other sports drinks.

The establishment of the coconut water plant was one of the new investments in the Philippines by American firms announced by President Aquino during his recent visit to the US. The venture is a result of the joint effort of the national government and the province of Camarines Sur.

“We are very grateful to President Aquino for actively supporting this venture. The involvement of the national government really encouraged Vita Coco and its local partner to set up this plant in our province,” Villafuerte said.

[mwg12a]

Originally Posted by Sleepwalker

Is this a low-cost carrier or low-cost terminal? Hanep, Cebu lang ata ang tinipid...

This is what i do not like in Philippine news writing/media, it's always confusing.

[Nabartek]

Originally Posted by mwg12a

Now, i'm iffy on this one, but I guess that's better than not doing anything to create more jobs. I hope they would open it to HS grads who can't afford to go to college or atleast those poor filipinos in HS level only.

While the US is outsourcing jobs and leaving many professionals underpaid or jobless, the Philippine outsources its brightest professionals

I don't know which is worse, to take away jobs from citizens, or to send citizens away

It's political manipulation. And sadly, Filipinos are falling for it. Politicians are sending those who have potential for critical thinking while let those who just say yes or no stay. :/

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How can the government convince investors if they keep sending our professionals away? Might as well invest in Kuwait and still get a Filipino professional. Wala nang natira sa Pilipinas.