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M Butterfly takes wing, to go on tour in 2019

WHILE it has concluded its run, the Manila staging of Henry David Hwang’s M Butterfly isn’t ready to hang up the costumes, the intrigues, and the scandalous love story of Rene Gallimard and Song Liling, as its producer Jhett Tolentino announced that they will be taking the butterfly on tour next year through five cities in the Philippines.
“We will be following the tour route of the original M Butterfly Philippine tour,” Mr. Tolentino said at a press conference on Sept. 28 at the Seda hotel in Bonifacio Global City.
The tour will commence in January in Iloilo, with stops in Davao, Cebu, Dumaguete, and Baguio before returning to Manila in February for a 21-show run.
Tickets for the tour are expected to be available by “mid-October or early November,” said Mr. Tolentino.
PERFECT TIMING
Almost three decades ago, M Butterfly was staged in Manila featuring the then 18-year-old Raymond “R.S.” Francisco as Song Liling. A five city tour followed the play’s successful 1990 run.
Mr. Francisco reprised his role 28 years later with this production, commenting during the press conference that his Song Liling now is one “who has gone through so much in life.” He said this is the “perfect time for me [to play Song Liling].”
Mr. Tolentino told BusinessWorld that they are partnering with SM Cinema for the play’s venues during the tour.
“We’re just dealing with casting and availability,” he said before assuring the leads Mr. Francisco and Olivier Borten (who played Rene Gallimard) will remain the same.
The idea of going on tour, entered Mr. Tolentino’s mind after the first week of performances at the Maybank Theater in BGC.
“Then I met with SM right away and asked them if they want to be on board. They saw the show and they wanted to a part of the promotion of the arts in country, especially theater,” he said.
“The key element here is to reach out and I’m all about the audience development program in this country. I care for those who are not in Metro Manila, those who do not have access to theater,” he said, noting that as a youth growing up in Iloilo, he would often lament that shows in Manila were never brought to his hometown.
A Broadway producer, Mr. Tolentino has won several Tony Awards — for 2013’s Vanya and Sonia and Masha and Spike (Best Play), 2014’s A Gentleman’s Guide to Love and Murder (Best Musical), and A Raisin in the Sun (Best Revival of a Play). He is also the first Filipino to win a Grammy Award for Best Musical Theater Album for The Color Purple.
AUTHOR, AUTHOR!
M Butterfly’s author, Henry David Hwang, who came from the US to catch the productions last performances, said during the press conference that he was excited over the play going on tour and said he might catch the Cebu leg because he grabs at any chance to visit the city where he has relatives.
Mr. Hwang currently sits as the chairman of the American Theatre Wing, an organization “dedicated to supporting excellence and education in theater,” according to its website. The organization also created and sponsors the Tony Awards. As the chairman, Mr. Hwang told the press that he wants “to further the conversation on inclusivity.”
Aside from M Butterfly, Mr. Tolentino told BusinessWorld that there are four plays he is considering producing in the Philippines.
“I don’t want to preempt [anything] but I have about four I’m thinking of — two plays and two musicals,” he said before adding that of the four, two of his prospects are ones that he already produced on Broadway.
“[There’s] one play and one musical I produced on Broadway that’s near and dear to my heart [that I want to stage in Manila] and I’m very willing to do it. It just comes down to working with the right partner,” he said. — Zsarlene B. Chua

Arts & Culture (10/03/18)

VIOLINIST Kristine Clair “KayCee” Uchi Galano is the featured performer in the PPO’s next concert on Oct. 12.

PPO performs with violinist Galano

THE Philippine Philharmonic Orchestra (PPO) gears up for its second concert of the season on Oct. 12, 8 p.m., at the Main Theater of the Cultural Center of the Philippines. Under the baton of Yoshikazu Fukumura, PPO’s music director and principal conductor, the company will perform H. Berlioz’s Le Corsaire Overture and P.I. Tchaikovsky’s Symphony no. 4, Op. 36, F minor. Featured guest soloist will be violinist Kristine Clair “KayCee” Uchi Galano, playing M. Bruch’s Violin Concerto no.1, Op. 26, G minor.

Hans Brumann goes from jewelry to art

A LANDSCAPE by Hans Brumann in wood and Mother of Pearl.

IN Paysage, Hiraya Gallery presents the recent sculptures and watercolors of Hans Brumann at the Makati Shangri-la Manila from Oct. 4-30. The artist is the famed Swiss jeweler who has made the Philippines his home for the past five decades. In recent years, Brumann has produced sculptures invested with the same degree of elegance and refinement as his jewelry, especially in the woodwork. He also explores an unexpected material: Mother of Pearl. For more information, call 523-3331 or e-mail dididee@hiraya.com or visit www.hiraya.com.

Atlantis revisits Angels in America for 20th anniversary

ATLANTIS Theatrical Entertainment Group’s first major production for its 20th Anniversary Season in 2019 will be Tony Kushner’s masterpiece Angels in America: Millennium Approaches, the first of the two-part Tony Award and Pulitzer Prize winning play. Set in 1980s New York City, a gay man is abandoned by his lover when he contracts the AIDS virus, and a closeted Mormon lawyer’s marriage to his pill-popping wife stalls. It received the most Tony Award nominations in Broadway history and is the winner of 10 Tonys including Best Play and Best Revival of a Play. Atlantis’ Artistic Director, Bobby Garcia, who will be directing the production says, “I first directed Angels in America in 1995 when I was 25 years old. I look forward to revisiting the play almost 25 years later from a whole different perspective on life and death, heaven and hell. The play remains as timely as ever which is the true testament of a classic.” Angels in America: Millennium Approaches will run at the Carlos P. Romulo Auditorium, RCBC Plaza, Makati from March 22 to April 7, 2019. For details call 650-5144 or e-mail shows@atlantistheatrical.com.

Pagkaliwangan drawings at the Bencab Museum

DETAIL of a drawing by Henrielle Pagkaliwangan.

FRAGMENTARY CONVERSATIONS, an exhibit of drawings by Henrielle Pagkaliwangan, will open on Oct. 13, 4 p.m., at the Gallery Indigo of the Bencab Museum, Km. 6 Asin Road, Tuba, Metro Baguio. The exhibition will be on view until Dec. 2. Philippine Views, an exhibition of 18th to 19th Century prints, will also be on view at the museum’s Sepia Gallery.

Concert in honor of Senator Edgardo J. Angara

THE Cultural Center of the Philippines, Philippine Philharmonic Orchestra Society, Inc. in cooperation with the University of the Philippines pay tribute to the life and work of the late Senator Edgardo J. Angara in an invitational concert on Oct. 17 at the Main Theater of the Cultural Center of the Philippines (CCP). A four-time Senator, Mr. Angara authored and helped established important laws related to cultural and the arts including those creating the National Living Treasures Award and the National Commission for Culture and the Arts. In 1985, he established the Philippine Philharmonic Orchestra Society, Inc (formerly PPSI, now PPOSI) to improve the welfare of the orchestra members. He set up gratuity funds for the retiring members of the PPO. Six months before he passed away in May this year, Mr. Angara awarded study grants to two PPO members. National Artist for Music Dr. Ramon Santos will lead the orchestra in a performance of “Awit ng Pagdiriwang” which he composed for the inaugural of Mr. Angara as UP President in 1981. Soprano Stephanie Quintin, tenor Dondi Ong and the UP Singing Ambassadors, UP Concert Chorus, and the UP Cherubim and Seraphim will join the PPO. Pianist Raul Sunico also will perform Gershwin’s Concerto in F with the PPO.

Busy October for the MSO

THE Manila Symphony Orchestra (MSO) will have a busy month with four concerts in October. The first is The Virtuoso Guitarist on Oct. 4, 6:30 p.m., at the Ayala Museum. The MSO’s concert master, Gina Medina-Perez, and the MSO String Quartet will be performing with Jacob Cordover and the Sparrow Music Guitar Ensemble for a night of Spanish and South American guitar music. On the same day, at 7:45 p.m., the MSO under the baton of Ryan Cayabyab with the Ryan Cayabyab Singers, will perform in a fund-raising concert at the St. James Church, Alabang called 20 Seasons of Love. And on Oct. 28, 8 p.m., the MSO will perform the soundtrack of the critically acclaimed film, Call Me By Your Name, in a live score performance at the Samsung Hall of SM Aura. For tickets to The Virtuoso Guitarist, call Ticketworld at 891-9999 or the Ayala Museum at 759-8288 loc. 8272. For tickets to 20 Seasons of Love, call 842-6369; and for tickets to Call Me By Your Name, go to ticketworld.com.ph.

Art for smiles

CELEBRATE World Smile Day with cleft charity, Smile Train, which, along with Centuria Medical Makati, will host an art exhibit on Oct. 5, 5 p.m., at Centuria Medical Makati, Century City, Kalayaan Ave. cor. Salamanca St., Makati City. The exhibit, which will benefit the patients of Smile Train, will feature work from artists such as Jon Ray Fernandez, Roberto Sanchez, Ivy Lim, Jirawat Pramphet, and Arthit Pansuay.

Jollibee opens 1st store in Macau

Jollibee Foods Corp. (JFC) opened the first branch of its Jollibee fastfood chain in the Macau Special Administrative Region last week, as it continues to ramp up its global expansion. “Macau is home to over 40,000 Filipinos and we are only too happy to bring them ‘a taste of home,’ as well as share Jollibee’s signature brand of great tasting food and friendly service with the warm people of Macau,” Ernesto Tanmantiong, JFC chief executive officer, was quoted as saying during the store opening. JFC said it employed overseas Filipino workers (OFWs) and Filipino permanent residents in Macau for the store.

Iran works to deepen marts with new financial products

IRAN is developing a range of new financial products, from Islamic bonds to warrants and insurance-linked securities, in an effort to give local firms more funding options as sanctions put pressure on the economy.
The Iranian rial has plunged 70% against the US dollar in the free market this year, inflation has risen and foreign trade has been disrupted after Washington repudiated an agreement on Tehran’s nuclear program and reimposed sanctions.
But Iran’s financial system has been able to ride out past periods of sanctions, and officials say they are working on new products to stimulate capital markets activity. All the products are structured to obey Islamic principles, such as a ban on interest payments.
The capital market regulator, the Securities and Exchange Organization (SEO), said it had started work on a new structure for Islamic bonds.
The sukuk will use an agency format known as wakala, which is widely used in Asia and the Middle East but not yet offered in Iran, said Majid Pireh, senior Islamic finance expert in the SEO’s research, development and Islamic studies department.
“This will be a new financing instrument for companies,” Pireh said by telephone, adding that regulations could be ready in six to nine months.
Wakala sukuk pay a variable rate, giving them equity-like features compared with other sukuk in Iran, which pay fixed rates, he added.
The SEO also plans to introduce warrants — contracts giving the option to buy underlying shares at a later date — following the earlier introduction of put and call options. The SEO’s religious board is reviewing a proposal for warrants, which must be structured to obey Islam’s ban on pure monetary speculation.
“The derivatives market has a lot of room to grow. Options were introduced in 2013, but the first trades were done in 2016,” said Payam Afzali, managing partner and head of investment banking at Tehran-based Kian Capital Management.
Warrants may not attract major investment in the short term but could be used to make bonds and equities more appealing to investors, he added.
Meanwhile, the SEO is considering whether to introduce insurance-linked securities so that domestic insurers can offload some portfolio risk in the capital markets, Pireh said.
ILS are typically tied to natural catastrophes such as earthquakes and offer high yields; investors can lose their principal if a catastrophe loss is triggered.
They could serve as an alternative to reinsurance cover, which is scarce as sanctions mean Iran is shut out of global reinsurance markets such as Lloyd’s of London.
In August, the SEO published rules for crowdfunding, which allows start-ups to collect small sums of money from many individuals as an alternative to bank loans. An official at an Iranian securities exchange said several applications to conduct crowdfunding exercises were under review.
There are also proposals to develop sukuk that are convertible into equity and lengthen the maturities of sukuk to 10 or 20 years. Most debt issuance in Iran currently carries four- or five-year tenors, the official said.
But the official added that the sanctions were making it impossible to develop some financial products. A proposal for foreign currency sukuk was submitted to the central bank, but Iran’s lack of access to the SWIFT global payments network caused the idea to be scrapped. — Reuters

How PSEi member stocks performed — October 2, 2018

Here’s a quick glance at how PSEi stocks fared on Tuesday, October 2, 2018.

 
Philippine Stock Exchange’s most active stocks by value turnover — October 2, 2018

PSEi enters bear territory for the fourth time this year, wipes out P2.02 trillion since peak

PSEi enters bear territory for the fourth time this year, wipes out p2.02 trillion since peak

World Bank releases over $496M for calamity relief

By Melissa Luz T. Lopez
Senior Reporter
THE WORLD BANK has released a $496.25-million aid package for the Philippines to help fund reconstruction and recovery in areas hit by typhoon Ompong (international name: Mangkhut).
In a statement, the bank said the package is part of a contingent credit line for natural disasters.
A week ago, President Rodrigo R. Duterte signed Proclamation No. 593 declaring a state of calamity in Regions I, II, III, and the Cordillera Administrative Region (CAR) due to “widespread destruction, substantial damage and deaths” caused by the heavy rains and winds as the storm traversed the northern Philippines in mid-September.
Cabinet officials belonging to the National Disaster Risk Reduction and Management Council (NDRRMC) have since endorsed the declaration.
Finance Secretary Carlos G. Dominguez III has said that the declaration will allow the Philippines to tap special credit line from the World Bank for relief and recovery measures.
Apart from accessing the loan facility, Mr. Duterte’s proclamation also allows local government units to impose price caps on basic goods, authorize extraordinary funding for repairs and upgrades of roads and facilities, and pursue negotiated procurement in affected regions.
“The funds accessed from the contingent line of credit — called the Second Disaster Risk Management Development Policy Loan with a Catastrophe-Deferred Drawdown Option (Cat-DDO 2) — will give the Philippine Government flexibility to help families and communities recover, reconstruct vital infrastructure (such as roads, bridges, schools and hospitals), and restore basic social services,” the World Bank said in a statement.
The Cat-DDO 2 line has been active since December 2015, with the goal of providing “immediate liquidity” to help a borrower recover from a natural disaster. It also comes with technical assistance from the lender to assist in disaster risk management.
A country can tap the credit facility within three years, renewable for a total of 15 years. Amounts repaid by the government can then be tapped for subsequent drawdowns, the World Bank added.
Cat-DDO 2 will be available until Sept. 30, 2021.
Typhoon Ompong affected nearly three million people, left 68 dead, 138 injured and two missing, according to NDRRMC’s Oct. 1 situation report.
The heavy rains also caused P26.77 billion worth of damage to agriculture and P6.923 billion to infrastructure.
In a related development, the Department of Budget and Management (DBM) said the government is “providing emergency employment” for displaced workers in Ompong-hit areas.
In a statement, DBM said P44 million has been allocated this year for affected residents via the Tulong Panghanapbuhay sa Ating Disadvantaged (TUPAD) program of the Labor department.
Some 1,160 workers in Batanes, 5,798 in Isabela, 4,348 in Cagayan, 300 in Nueva Vizcaya, 580 in Quirino and 580 in Tuguegarao City will be employed under TUPAD, with employment arrangements ranging from 10 to 30 days.
Budget for the TUPAD program will be doubled to P3.34 billion in 2019 for 289,602 beneficiaries, following a P1.62 billion allocation this year.

Recto Bank exploration deal eyed for Xi visit

MALACAÑANG on Tuesday said it is “doing everything” to ensure that a joint oil exploration deal between the Philippines and China on the Service Contract (SC) 72 located in the disputed Recto (Reed) Bank in the West Philippine Sea will be signed during Chinese President Xi Jinping’s visit to Manila in November.
“We are doing everything we can to make sure that when President Xi comes here, we can sign a joint exploration [deal] for natural gas an oil to help us achieve energy security,” Palace Spokesperson Herminio L. Roque, Jr. said at a briefing Tuesday.
Mr. Roque said joint exploration would help insulate the Philippines from high global oil prices. “One of the things we are studying and wish to bring forward is joint exploration in the West Philippine Sea because according to initial studies there is natural gas and oil in the Service Contract 72 area.”
Mr. Roque also noted that the scheduled increase in the excise tax on fuel under the first package of the Tax Reform for Acceleration and Inclusion (TRAIN) law will be suspended if global oil prices hit or exceed $80 per barrel “for three consecutive months.”
“Now that it has hit $80 [per barrel]… and if it stays there for three months, excise taxes will not rise because that is what the law says. It is up to Congress if it wants to repeal the law. The President can do nothing because it’s a law,” he said.
He called for unity and the setting aside of differences in order to achieve a joint exploration deal that will reduce the country’s dependence on imports.”
The Department of Energy (DoE) issued a moratorium on all exploration and drilling works in Service Contracts 72 and 75 in December 2014 and 2015, respectively, due to the maritime dispute between the Philippines and China over the West Philippine Sea.
Mr. Roque said joint exploration will require a treaty or executive agreement because of the Chinese claim.
Asked when the Palace expects joint exploration to start, Mr. Roque said: “As soon as possible. As soon as it’s signed, we are willing to undertake further steps, although it will not be producing immediately.”
He said the government hopes it can tap an alternative energy source shortly after the production contract for the Malampaya gas field off Palawan expires in 2022.
“We are hoping that by around 2027 SC 72 will be producing,” he added.
The Recto Bank concession or SC 72 is west of Palawan and southwest of the Shell-operated Malampaya Gas Field, a deepwater gas-to-power project in SC 38. — Arjay L. Balinbin

DTI recruiting major retailers to sell P38/kilo imported rice

THE Department of Trade and Industry (DTI) will invite major retailers to import 350,000 metric tons (MT) of rice to supply supermarkets by the end of October, noting that two such groups have expressed their willingness to import the staple.
“We are writing now to the retailers, and even the traders, who will guarantee to sell at [P38 per kilogram],” Trade Secretary Ramon M. Lopez told reporters on Tuesday on the sidelines of the Inclusive Innovation Conference 2018 held in Pasay City.
“While prices remain high, we will apply pressure by encouraging sales at P38,” Mr. Lopez added, referring to the suggested retail price for regular-milled rice, which is the variety typically purchased from the National Food Authority (NFA) by low-income families.
He added that the DTI will propose 350,000 MT in rice imports to the interagency NFA Council (NFAC) which assesses the domestic rice supply and demand before approving importation.
A member of the NFAC, the DTI said the 350,000 MT is estimated to fill the “immediate needs” of the B, C, D and E market segments.
Said he has discussed the scheme with retailers that he declined to identify, adding that they are “willing” to sell P38 rice in their stores.
“They are major retailers who can guarantee selling rice at this price. They are also trusted by the public and have systems we can audit.”
He said the import scheme is open to all parties that commit to sell at P38, but threatened unspecified sanctions against any parties that violate these terms. Those who violate the proposed conditional rice importation scheme.
Mr. Lopez expects the availability of the volume in supermarkets by the end of the month after President Rodrigo R. Duterte signed Administrative Order 13 to ease the rice importation process. — Janina C. Lim

DoF: TRABAHO Bill targets abuse of investment perks

TRANSFER pricing schemes employed by companies have resulted in annual revenue losses of at least P43 billion in 2015, the Department of Finance (DoF) said.
Finance Undersecretary Karl Kendrick T. Chua said some businesses abuse transfer pricing arrangements, whereby profit is maximized in low-tax jurisdictions.
Mr. Chua added that the lost revenue comes on top of the projected P301 billion in foregone revenue that year as a result of tax incentives.
Apart from international transfer pricing, Mr. Chua said there are also instances of domestic transfer pricing where profits are recognized in units located in economic zones or to units enjoying tax breaks.
“A firm can also pad its direct costs with indirect costs to pay even lower taxes under a regime where it only gets to pay the 5% GIE (gross income earned) tax,” Mr. Chua said in a statement yesterday.
“Certain favored companies, particularly those in SEZs (special economic zones), get to enjoy this special 5% forever under the current tax-incentives system.
Transfer pricing abuse has also been cited by the DoF as one of the “top 10 abuses” of the country’s tax incentive regime, and called upon the Senate Committee on Ways and Means to pass the second tax reform package meant to address the issue.
By booking sales, loans, royalties, and management contracts under related entities enjoying lower tax rates, a company can significantly reduce its tax payments to the government.
Estimates made by the DoF and the Bureau of Internal Revenue show that the government lost some P25.9 billion in 2011, P36.5 billion in 2012, P35.1 billion in 2013, and P40 billion in 2014 from such practices.
Other schemes currently under scrutiny are investment incentives from regional enterprise and export zones, the disguise of unqualified activities as worthy of tax breaks, the overvaluation of assets, and “fictitious employees” and fake training programs to enjoy employment and training credits, the DoF has said.
The House of Representatives approved House Bill 8083 or the Tax Reform for Attracting Better and High-quality Opportunities (TRABAHO) Act last month. The measure seeks to gradually reduce the corporate income tax rate to 20% from the current 30% by two percentage points every other year starting 2021. This will accompanied by a new one-size-fits-all scheme for tax incentives, which will replace various types granted by investment promotion agencies and likewise cap the number of years a company can enjoy such perks.
Under the proposal, incentives will include a three-year income tax holiday (ITH) as well as allowable deductions up to five years for “labor, training, infrastructure building, and research and development expenditures.” This compares with the current regime which grants an ITH for up to nine years, with a 5% tax on gross income.
The measure is now pending at committee level in the Senate. — Melissa Luz T. Lopez

Central Luzon dev’t bill passes on 3rd reading

THE SENATE on Monday passed on third and final reading a bill creating the Regional Investment and Infrastructure Coordinating Hub (RICH) of Central Luzon, which seeks to generate jobs and attract capital to the region.
Senate Bill No. 1997 was approved with 18 affirmative votes, no negative votes, and zero abstentions. It was authored and sponsored by Senator Richard J. Gordon, chairman of the committee on government corporations and public enterprises. It was co-authored by Majority Leader Juan Miguel F. Zubiri and Minority Leader Franklin M. Drilon.
“The name of the bill reflects its aim to enrich the people by encouraging and promoting investments and infrastructure in Central Luzon, as well as addressing bottlenecks, laying the foundation for long-term growth in the region, creating jobs and improving the quality of life of Filipinos,” Mr. Gordon said in a statement.
Under the proposed measure, RICH will replace the Subic-Clark Alliance for Development Council (SCAD). It was SCAD’s task to harmonize business and economic policy as well as to attract investment to the region.
The proposed hub’s board of directors will have nine members, including the heads of economic zones based in the region.
Mr. Gordon said the bill also seeks to maximize the infrastructure of Central Luzon, such as the Subic and Mariveles seaports, North Luzon Expressway, Tarlac-Pangasinan-La Union Expressway (TPLEx), and Subic-Clark-Tarlac Expressway (SCTEX).
One of the goals of the bill is to help decongest Metro Manila by “dispersing industries and population to Central Luzon,” he added.
Its counterparts measure in the House of Representatives remained pending in the committee on government enterprises and privatization. — Camille A. Aguinaldo

European chamber considering SME partnering project extension

THE European Chamber of Commerce of the Philippines said that it plans to extend its five-year project, known as the EU-Philippines Business Network, which partners small and medium enterprises from Europe with domestic companies.
In a chance interview on the sidelines of the 2018 Sustainable Agriculture Forum, ECCP Executive Director Florian Gottein said that “with the European Union, we have the EU-Philippines Business Network. It is a five-year project which is aimed to bring European SMEs to the Philippines to set up shop here, to produce here, to team up with local partners and we’re now at the end of this project and we are looking to extending it.”
The EPBN started in December 2013 and is set to end on Dec. 16, 2018.
Asked about plans to extend the program, Mr. Gottein replied, “That depends on the new delegation of business… but in other countries, that has been extended for 1 and a half to 2 years so we’re looking at the same.”
Mr. Gottein said that ECCP member-companies have started investing in high-value crops in the Philippines such as coffee and cacao.
“If you look at the Philippines, the average age is 23 years while the average age of the Filipino farmer is 57 years. That’s a huge gap… A couple of our member companies are investing in high-value crops (like) coffee (and) cacao and that’s a huge market in Europe… I think there are a lot of things we can do together in order to produce more at more competitive price for the domestic market and the export market,” Mr. Gottein said.
Nestle Philippines Vice-President and Corporate Affairs Executive Ruth P. Novales meanwhile said that the company is pushing the practice of intercropping among coffee farmers to give them alternative sources of income in other parts of the year, thereby improving he productivity of their land.
Intercropping is the practice of growing a crop in the space between rows of plants of a different kind.
“There is a shift to other crops. Coffee is harvested only once a year…so we now advocate intercropping,” Ms. Novales said.
Agriculture Undersecretary Evelyn G. Laviña in a speech projected global cacao demand at 4 million metric tons by 2020, and estimated but the Philippines’ ability to service domestic demand at only 20%.
She, however, explained that the DA has a positive attitude toward the development of high value crops with the help of the private and academic sectors.
“It is the private sector that can mobilize the capital, and academic institutions that can provide the research,” Ms. Laviña said.
Former agriculture secretary William D. Dar, meanwhile, also backed a shift in focus from planting rice to growing high-value crops.
“We have to reinvent Philippine agriculture,” Mr. Dar said. — Reicelene Joy N. Ignacio

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