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NNIC, Meralco tie up to power NAIA

Planes are seen at the Ninoy Aquino International Airport (NAIA) in Pasay City. — PHILIPPINE STAR/MIGUEL DE GUZMAN

SAN MIGUEL-LED New NAIA Infra Corp. (NNIC) and Manila Electric Co. (Meralco) have inked a partnership to power the modernization of the Ninoy Aquino International Airport (NAIA), the operator of the country’s main gateway said.

In a media release on Monday, NNIC said the partnership will provide sustainable and reliable energy solutions to meet the airport’s growing demand.

“By enhancing power reliability for the new NAIA, we are going to help empower the tourism and travel industry, support economic growth and enrich the travel experience for countless travelers. This will be a step towards NNIC’s goal of transforming our country’s vital gateway into a world-class facility,” said Meralco Chairman and Chief Executive Officer Manuel V. Pangilinan.

NNIC said its partnership with Meralco also includes the building of a new 115 kilovolt (kV) — 34.5 kV gas insulated switchgear substation to supply power to the four terminals of NAIA.

The design of the new substation which will be built by Meralco has been completed, it said, adding that the construction is expected in the third quarter of 2025 with full completion targeted in December 2026.

It said the new substation will also complement Meralco’s existing NAIA-3 substation.

The airport has experienced power issues due to aging infrastructure and inadequate power capacity, NNIC said, adding that with the privatization of NAIA, it will prioritize these power issues at the airport.

“Years of underinvestment have left NAIA struggling to meet the demands of a modern airport. With Meralco as our partner, we are addressing power reliability as a top priority, alongside operational improvements such as decongesting traffic within the airport, widening roads, mitigating flooding, and replacing faulty equipment,” NNIC President Ramon S. Ang said.

Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT, Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. Ashley Erika O. Jose

Australia, UNDP unveil new P78-M peacebuilding program for BARMM

THE Australian Government and the United Nations Development Programme (UNDP) have unveiled a new P78-million initiative aimed at enhancing governance and community resilience in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).

The Programme on Stabilization, Peacebuilding, and Resilience in the Bangsamoro (PROSPER-Bangsamoro) is backed by funding support from Australia, UNDP said in a statement on Monday.

The two-year program will promote inclusive governance by providing technical assistance to local governments, inclusion, and cohesion among communities by engaging women, youth, Indigenous Peoples, and civil society.

The PROSPER-Bangsamoro program will assist the normalization processes for former combatants and their communities, transforming Moro revolutionary groups into active social movements.

“Australia’s engagement in Mindanao is part of a long-term effort to support stability and economic development in the region,” Moya Collett, Australian Deputy Ambassador to the Philippines said.

UNDP Philippines Resident Representative Selva Ramachandran said the goal “is to enable communities to access peace dividends through socio-economic opportunities and to foster solidarity and reconciliation for sustainable development in the region.”Aubrey Rose A. Inosante

New biostimulant launched in Baguio

BAGUIO CITY — Singapore-based sustainable agricultural solutions firm SoiLabs, launched its innovative biostimulant Soi-X, made from soya waste (okara) in Baguio, including the Philippine market.

SoiLabs transforms what would otherwise be a byproduct of tofu and taho production into a nutrient-rich solution for plant nutrition.

SoiLabs, which joined forces with Japan’s Sanyo Chemical, has linked with Mr. Renato R. Reyes, President of Miracle Soybean Food—Philippines’ largest tofu and taho producer.  The partnership repurposes substantial amounts of soya waste generated during production into Soi-X through SoiLabs’ advanced technology.

With its commitment to repurposing waste and promoting environmental sustainability, SoiLabs is poised to play a key role in enhancing agricultural practices in the Philippines, Baguio Tourism Council (BTC) Chairman Gladys Vergara beamed with optimism on the initiative’s success. Artemio A. Dumlao

3 residents die in Basilan fire

COTABATO CITY — Three members of a Tausug family were burned almost beyond recognition in a fire that razed their store in Barangay Kaumpurnah Zone 1 in Isabela City in Basilan before dawn Monday.

In an initial report, released on Monday morning, the police and officials of the Isabela City Disaster Risk Reduction and Management Office (CDRRMO) said the fatalities, Hadjira D. Cabato, 40, Alnajher L. Cabato, 54, and the 17-year-old Jehana S, Cabato, were trapped in the building, where they also reside, when the fire broke out.

Personnel of the Bureau of Fire Protection assigned in Isabela City and police investigators are still trying to determine what caused that fire that left the Cabatos dead.

The mayor of Isabela City, Sitti Djalia T. Hataman, had reportedly ordered the personnel of their CDRRMO to extend essential support to the families of her three constituents who perished in the incident. — John Felix M. Unson

Cop dead, 6 others hurt in Maguindanao road accident

COTABATO CITY — A police corporal died, while four of his companions and two crime suspects were injured in a highway accident in Barangay Gang in Sultan Kudarat, Maguindanao del Norte late Sunday.

Lt. Col. Esmael A. Madin, chief of the Sultan Kudarat Municipal Police Station, said on Monday that Cpl. Cairodin P. Rumidas, of the Buldon Municipal Police Station in Maguindanao del Norte, succumbed to injuries in a hospital where he and his companions and the two law offenders were brought by emergency responders for treatment.

Mr. Rumidas and his companions, driver Cpl. Baseron A. Aratuc, Patrolmen Diamalodin B. Esmail and Ismael A. Tagadaya, and Staff Sgt. Musa D. Calocop, were on their way home to Buldon from the laboratory in Cotabato City of the Police Regional Forensic Unit-Bangsamoro Autonomous Region. Within their custody were two crime suspects Jehar M. Panot and Saidin S. Panot, tested for use of illegal drugs.

Mr. Madin said Mr. Aratuc lost control of the wheel when the highway in Barangay Gang in Sultan Kudarat became slippery due to a sudden heavy downpour, causing the accident.

The patrol vehicle swerved with force towards the side of the highway and hit a house, according to Mr. Madin.

Brig. Gen. Romeo J. Macapaz, director of the Police Regional Office-Bangsamoro Autonomous Region, told reporters that they will provide the family of Mr. Rumidas with financial support and help facilitate his immediate burial according to Islamic tradition of burying the dead within 24 hours after death. John Felix M. Unson

Export council to downgrade 2025 targets

PHOTO COURTESY OF ICTSI

THE Export Development Council (EDC) said it will downgrade the export targets for 2025 and beyond contained in the Philippine Export Development Plan (PEDP).

“We are definitely revising it downward because of the many uncertainties in the global environment,” EDC Executive Director Bianca Pearl R. Sykimte told reporters on the sidelines of National Exporters Week.

“But we are quite optimistic with the Trump administration that hopefully it will provide us a window of opportunity to pursue a bilateral free trade agreement with the US,” according to Ms. Sykimte, who is also the Trade department’s Export Marketing Bureau director.

She said 2024 exports will miss the PEDP target for this year, which is $143.4 billion, but will exceed the $107 billion target set in the Philippine Development Plan (PDP).

“The PDP is the bottomline commitment of the exporting community to contribute to the overall plan,” she said.

The revised targets could be issued next year, she said.

She said electronic products could weigh on the overall performance of exports even when other products perform well.

“Coconut exports picked up, and actually a few other sectors grew significantly. But it is just that a big chunk of what we export are electronics. So whatever movement there is in that sector really defines the movement of the overall merchandise exports,” she said.

“But in services, we are still looking at double-digit growth,” she added.

Asked if the recently ratified Philippines-South Korea Free Trade Agreement (FTA) will have any bearing on export growth next year, she said, “The question is, would it be enough to pull up everything?”

“But based on the historical performance of our bilateral FTAs, right after the entry into force of the agreement, there is a trade surplus with that country,” she said.

The Philippine Statistics Authority reported exports of $55.67 billion in the nine months to September, up 1.1%.

Meanwhile, exports of services totaled $24.9 billion in the first half, up 11.4%. — Justine Irish D. Tabile

Government urged to fund crops other than rice

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THE Philippine Chamber of Agriculture and Food, Inc. (PCAFI) said that the government needs to fund more crops beyond rice, citing food sufficiency concerns.

In a briefing on Monday, PCAFI President Danilo V. Fausto said the Department of Agriculture’s (DA) budget has had too much of a focus on rice production.

“High-value crops have contributed 33% of the agricultural output in crops and rice is only 23%. Yet (we are) still pouring everything into rice,” He added.

For the DA budget of P200.19 billion, about P31.4 billion was allocated to the National Rice Program.

Funding to support rice farmers mainly comes from the Rice Competitiveness Enhancement Fund (RCEF), which is financed by tariffs collected on imported rice, as authorized by the Rice Tariffication Law of 2019 or Republic Act No. 11203.

“Pouring in money is welcome. But as we go and plant rice, and we always say we are rice-centric, we need to plant new food. We have to have new ways of planting our food and modernize,” he said.

He added that the tariffication law includes a provision that allows excess rice tariff collections to help rice farmers diversify into other crops.

“There’s so much (demand) for rice, and we cannot produce (all of it); therefore we will always be importing. We can produce high-value crops, but we have not given the budget to develop high-value crops,” Mr. Fausto said.

On Monday, President Ferdinand R. Marcos, Jr. signed Republic Act 12078 or the measure amending the Agricultural Tariffication Act, which tripled the annual allocation of RCEF to P30 billion and extended it until 2031.

Mr. Fausto said despite billions being earmarked to support rice production through RCEF, disbursement for mechanization remains slow.

“Anything additional to the budget of the DA is always welcome… The problem is in the implementation, and we need to look into that,” he added.

Meanwhile, Mr. Fausto said that irrigating rice planting areas remains a challenge due to the country’s geography.

“We are an archipelago. We cannot produce rice like India or Vietnam or Thailand. We are composed of islands and it’s difficult to irrigate,” he added.

He said that the average yield per hectare for rice remains below the yield targeted under RCEF.

Palay or unmilled rice production is expected to fall to 19.3 million MT this year due to the combined effects of the dry conditions brought by El Niño and the increased rainfall due to La Niña, according to the DA. — Adrian H. Halili

NFA Oct. palay procurement hits 123,561 MT

PHILIPPINE STAR/MIGUEL DE GUZMAN

THE National Food Authority (NFA) said on Monday that it procured 123,561 metric tons (MT) of palay, or unmilled rice, in October, equivalent to 2.47 million sacks of 50 kilograms each.

In a report, the NFA said the October procurement was 79.98% of its target of 154,497 MT.

“Increase in the procurement as compared to the preceding months can be attributed to the good harvest of the main cropping season and the implementation of the Council-approved Price Range Scheme (PRICERS) for palay procurement activity,” the NFA said.

The PRICERS program sets a buying range of palay per province at prices designed to be competitive against prices offered by traders.

The NFA had approved a price range of P23 to P25 pesos per kilogram of dry palay.

The NFA is targeting a palay inventory of 435,000 MT before the end of the year. It is required to maintain a rice reserve equivalent to about nine days’ demand.

As of Oct. 31, the NFA’s inventory of milled rice was 244,724.78 MT or 4.89 million sacks.

“It should be noted that NFA’s inventory is 9.10% of the national rice inventory,” it added.

The national rice inventory rose to 2.46 million MT in November, according to the Philippine Statistics Authority. — Adrian H. Halili

Asialink gets $115-M working capital boost backed by ADB to support SMEs

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THE Asian Development Bank (ADB) said it signed an agreement with Asialink Finance Corp. to help provide $115 million in working capital to support lending to small- and medium-sized enterprises (SMEs), with a focus on female-owned companies.

“The financing package consists of a $50-million loan from ADB, $50 million from HSBC through the HSBC ASEAN Growth Fund, and $15 million from Security Bank Corp.,” ADB said in a statement.

The ADB said this expected to increase Asialink’s total loans to SMEs from P8.8 billion (around $150 million) to around P13 billion, with more than half of the financing dedicated to SMEs that are women-owned.

It is expected to almost double Asialink’s female entrepreneur borrower network to at least 20,000 and introduce tailored offerings to female business owners.

“Nonbank financial institutions play a key role in providing services to unbanked SMEs. This partnership between ADB and Asialink will enhance SMEs’ access to finance, especially for women entrepreneurs who face greater challenges in obtaining capital,” ADB Vice-President for Market Solutions Bhargav Dasgupta said.

The financing gap for Philippine SMEs was estimated at around P67 billion to P180 billion, the ADB said, adding that half of the SMEs owned by men transact using bank accounts, compared to 24% of female-owned ones.

Additionally, 14% of SMEs led by men have received approval for bank loans, against 4% for female-led ones.

“This partnership with ADB marks a transformative milestone in Asialink’s mission to empower SMEs across the Philippines, especially women-owned businesses that remain underrepresented in the financial sector,” Asialink Finance Corp. Chief Executive Officer Robert B. Jordan, Jr. said.

Established in 1997, Asialink is a leading nonbank financial institution with 247 branches nationwide.

It offers secured lending to SMEs, accepting motor vehicles as collateral. SMEs account for more than half of its portfolio. — Aubrey Rose A. Inosante

Retailers see PHL attracting more visitors with VAT refund scheme

PHILIPPINE STAR/KRIZ JOHN ROSALES

THE Philippine Retailers Association (PRA) said the signing into law of the value-added tax (VAT) refund scheme for non-resident tourists will raise the Philippines’ competitiveness as a visitor market.

“We welcome the signing of the VAT Refund Scheme for Tourists. This should make us competitive in the tourism market considering we are the only Asian country not offering VAT refunds for tourists,” PRA President Roberto S. Claudio said in a statement on Monday.

He said the measure will result in improved visitor arrivals and spending.

“We would like to thank the President for recognizing this incentive to make the Philippines competitive in the tourism market, to make the retail industry more robust, and to make the Philippines a shopping destination,” he added.

President Ferdinand R. Marcos, Jr. on Monday signed into law Republic Act No. 12079, which allows tourists to claim VAT refunds on purchases worth at least P3,000 from government-accredited stores.

Previously, the House Committee on Ways and Means projected the VAT refund program to increase tourist expenditure by 29.8%.

Inbound tourist spending on shopping hit P137.4 billion last year, which is expected to be further elevated through the VAT refund scheme, the Department of Tourism (DoT) said in a statement.

“From handcrafted souvenirs to premium brands, the program will encourage tourists to invest in our unique offerings,” Tourism Secretary Ma. Esperanza Christina G. Frasco said.

“It will directly benefit micro, small and medium enterprises, create jobs, and drive economic growth,” she added.

In a separate statement, Secretary Frederick D. Go, the President’s special assistant for investment, said the VAT refund scheme is a response to a clamor from tourism organizations.

“This initiative aligns with global best practices, as many countries already offer such, making it a strategic move for the Philippines to enhance its appeal to international visitors,” according to Mr. Go, who heads the Office of the Special Assistant to the President for Investment and Economic Affairs.

“By encouraging substantial spending from tourists, we aim to drive economic growth and create more opportunities for our people,” he added.

The DoT welcomed 5.35 million visitors as of Dec. 1, up 9.53%, but far below the 7.7 million target set for 2024. — Justine Irish D. Tabile

Ayala chairman bats for global support for emerging markets

THE Philippines benefits from the free movement of capital, goods, and people, and its global partners can support emerging markets with such measures, Ayala Corp. Chairman Jaime Augusto Zobel de Ayala said.

Mr. Zobel made the call for deepening globalization in an address to the Trilateral Commission last month.

“Like many emerging markets, the Philippines benefitted from the cooperation between regions and nations that followed World War II,” Mr. Zobel told the Trilateral Commission, which met in Manila between Nov. 22 and 23.

“Global cooperation has encouraged the free movement of capital, goods, and people, which has been net positive for our country,” he added.

Key officers and senior leaders of the Ayala Group engaged with members of the Trilateral Commission during its regional meeting in Manila to discuss issues affecting the Asia-Pacific region such as climate change, energy demand, artificial intelligence, and technological competition.

The Trilateral Commission gathers senior policymakers, business leaders, and representatives of academia to propose solutions to some of the world’s most complex issues.

The Philippines, a part of the commission’s Asia-Pacific Group, has three members — Ayala Corp. President and Chief Executive Officer Cezar P. Consing, Philippine Veterans Bank Chairman Roberto F. de Ocampo, and Philippine Center for Islam and Democracy President Amina Rasul-Bernardo.

Ayala Corp. has business interests in real estate, banking, digital solutions, renewable energy, healthcare, mobility, and logistics. It also has investments in industrial technology, education, and other ventures. — Revin Mikhael D. Ochave

ING Hubs expects staffing to grow 31% in 2024

ING HUBS Philippines said staffing is expected to grow 31% to 6,000 this year, reflecting growing global demand for banking services.

“From roughly 1,900 employees in 2020, the hub now has nearly 6,000 full-time employees. This significant increase is an indicator of the hub’s ability to scale and adapt to the evolving needs of the banking sector,” ING Hubs said.

“In just one year, the workforce grew by 31%, as a result of the increasing demand for the hub’s expertise and capabilities,” it added.

ING Hubs is a shared-services organization supporting the operations of the ING banking group.

ING offers, trade finance, risk management, information technology and software development, and data management services, among others, serving over 40 countries.

“We want ING Hubs Philippines to not just be a great place to work, but the ultimate place to grow,” ING Hubs Philippines Country Manager Hazel Delos Santos said.

According to the company, the Philippines is set to become one of the largest capability hubs in the region.

“The hub’s ongoing expansion will continue to fuel ING’s global growth, contributing to the bank’s broader mission of driving economic, social, and environmental progress,” it added. — Justine Irish D. Tabile