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Alsons Dev recognized for Exemplary Housing and Mixed-Use Projects in Davao

From L-R: Jolla A. Soriaga, Assistant General Manager for Business Units Group, Alsons Dev; Eric D. de la Costa, Vice President and General Manager, Alsons Dev; Jessa Mae D. Sisi, Sales Manager Alsons Dev; and Richard Raymundo, Managing Director, Colliers Philippines on stage receiving the award for Best Housing Development (Metro Davao) for Narra Park Residences at the 11th PropertyGuru Philippines Property Awards 2023.

Alsons Dev continues to live up to its name of being Davao’s premier property developer after its first township project and two residential developments secured accolades that showcase the company’s commitment to building exceptional communities. With Northtown, Northtown Residences, and Narra Park Residences Davao winning awards from the country’s leading real estate marketplaces, it was indeed a momentous occasion after another for the real estate developer.

Last Sep. 21, The Outlook 2023: Philippine Real Estate Awards by Lamudi bestowed the titles of Highly Commended for Best Affordable House and Best Mixed-Use Development in Visayas and Mindanao for Narra Park Residences and Northtown, respectively. The Outlook by Lamudi, inaugurated in 2017, assembles the most renowned professionals in local real estate, celebrating excellence through meticulous judging and the input of 10,000 active property seekers annually.

The following day, the 11th PropertyGuru Philippines Property Awards 2023 recognized Alsons Dev with the esteemed award for Best Housing Development in Metro Davao for Narra Park Residences, and Highly Commended title for Best Sub Division Development for Northtown Residences. Property Guru Philippines’ Property Awards, a milestone event in the real estate industry since its inception in 2005, gathers key decision-makers and celebrates the most outstanding projects and developers across Asia.

Jolla A. Soriaga, Assistant General Manager for Business Units Group, Alsons Dev and Eric D. de la Costa, Vice President and General Manager, Alsons Dev celebrating the highly commended Northtown Residences for Best Sub Division Development

These four accolades underscore Alsons Dev’s enduring commitment to providing Mindanaoans with thriving communities and quality living. Their projects have garnered recognition on a national and regional scale, attesting to their exceptional quality and positioning Alsons Dev as a standout force in the local real estate landscape.

“We want to lead the region’s progress by developing places that Mindanaoans can call home. More than just building houses, we want to build secure, nurturing environments where everyone is cared for and is allowed to pursue their passions and dreams”, said Miguel Dominguez, Director, Alsons Dev.

Narra Park Residences, a project under Alsons Dev’s Nurtura Land and Home brand, is a community of expertly constructed, high-quality homes inspired by modern Asian design. With its expansive parks, the development fosters a place where families can thrive in a lush and healthy environment with an array of leisure amenities and 24/7 security.

Northtown, a project under Alsons Properties, redefines suburban living by integrating the charm of the countryside with the conveniences and vitality of the city in one master-planned township development. It has Northtown Residences which offers open lots in a prime residential community, and Northtown Center, which features a balanced mix of retail, commercial, residential, and institutional components.

For over six decades, Alsons Dev has shaped the Davao Region’s landscape,  developing over 600 hectares of land and leaving a mark on the region’s growth. As one of the most trusted names in the real estate industry, its legacy continues, with plans to expand its operations beyond Davao and serve even more Mindanaoans in the years ahead.

 

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Businesses must pave the way to a sustainable urban future for all

AS URBANIZATION sweeps across the globe, cities are at the forefront of our future, offering opportunities for businesses and people to thrive. Yet, they also grapple with climate change and growing inequality.

The ASEAN region bears significant responsibility to mitigate these challenges, especially as almost 56% of its population is projected to reside in cities by 2030.

In the Philippines, where more than half of its 109 million population live in urban areas, rapid urbanization exacerbates not only climate hazards, but also risks like straining resources for basic services.

As we celebrate World Cities Day (Oct. 31) under the theme of “Financing sustainable urban future for all,” we must recognize how businesses can lead the green urban transition through innovative financing, insightful knowledge and expertise, and wider social responsibility.

NEW WAYS OF FINANCING
The development and maintenance of critical urban infrastructure and services demand substantial investment. Meanwhile, new technologies that can accelerate the sustainability of these systems might be unaffordable, or seen as an expense rather than an investment.

The World Bank estimates that more than $4.5 trillion per year is needed to fund climate-resilient urban infrastructure, yet climate finance flows for cities are only approximately $384 billion annually. Businesses are ideally positioned to bridge this gap through innovative financing.

For instance, public-private partnerships (PPPs) enable partners to share risks, resources and decisions in implementing projects. In the Philippines, PPPs such as Laguna Water have improved the provision of water and wastewater in Laguna’s cities, and supported community development, health and safety as well as environmental protection programs.

New business models can also encourage the adoption of new technology, where solutions providers can help reduce investments risks associated with sustainable projects, offer flexible payment plans, or incorporate efficiency savings achieved by customers into payment schemes. Notably, Grundfos introduced Grundfos Energy Earnings, where businesses can benefit from energy savings without an initial investment, as Grundfos shares realized savings to finance installed solutions.

Moreover, strategic partnerships can support businesses facing budget constraints. To help private commercial and public customers with limited funds improve water efficiency and access, Grundfos and EKF Denmark’s Export Credit Agency signed a unique financing partnership in 2022 to fund new solutions that reduce CO2 emissions and provide vulnerable areas with access to clean water.

KNOWLEDGE-SHARING
Beyond financing, businesses can provide critical insights for urban sustainability across various industries.

By sharing their best practices and collaborating with governments, research institutions, fellow industry players, and communities, businesses can drive and co-develop innovative urban solutions that ultimately further industries’ green transition.

Such partnerships can also help businesses better understand the complexity of the green transition. Recognizing the advantages of this approach, Grundfos has formed partnerships with Singapore Polytechnic and Ngee Ann Polytechnic. The latter specifically targets advancing sustainability in the regional built environment.

STRONGER COMMUNITIES
Finally, businesses can be forces for good by contributing to the social fabric and overall resilience of cities.

Some tech giants, for example, have committed to using 100% renewable electricity. Their efforts have influenced their peers, led to positive changes in energy policies and increased renewable energy adoption.

Businesses can also uplift the livelihoods of community members including marginalized groups such as women. For instance, inclusive and fair hiring practices and workplace cultures can better support local jobseekers and employees. Meanwhile, integrating sustainability and social impact considerations into wider supply chain decisions further extends the positive impact of businesses on local communities.

Businesses are catalysts for sustainable urban transformation with the power to shape the future of our cities. However, the work is far from over. Scaling a multi-pronged approach is crucial to ensure that our cities lead the way toward a more inclusive and sustainable urban future for all.

 

Bent Jensen is the chief executive officer for commercial building services at Grundfos. Grundfos is a leader in advanced pump solutions and trendsetter in water technologies. Grundfos Philippines was established in 2004, and has offices, representatives, as well as dealers and distributors in Luzon, Visayas and Mindanao.

InstaPay, PESONet transactions rise

TRANSACTIONS made through the Bangko Sentral ng Pilipinas’ (BSP) InstaPay and PESONet gateways rose further at end-September amid the continued adoption of digital payments.

The value of transactions done through the BSP’s automated clearing houses InstaPay and PESONet climbed by 30.1% to P9.24 trillion at end-September from P7.1 trillion in the same period a year prior.

In terms of volume, the clearing houses recorded 638 million transactions from January to September, 40.5% higher than 454 million seen in the comparable year-ago period.

More Filipinos have been using online banking and tapping these facilities for fund transfers, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

“The continued strong double-digit year-on-year growth in InstaPay and PESONet transactions may have to do with the accelerated adoption by the banking public of these digital fund transfer facilities, as encouraged by banks and regulators,” Mr. Ricafort said.

Broken down, the value of transactions done via PESONet climbed by 23.9% to P5.69 trillion as of September from P4.59 trillion recorded in the same period in 2022, based on BSP data.

The volume of transactions coursed through this payment gateway stood at 67.8 million transactions in the first nine months of the year, up by 8.3% from the 62.6 million seen the previous year.

Meanwhile, the value of transactions made through InstaPay surged by 42% to P3.55 trillion at end-September from P2.5 trillion in the comparable year-ago period.

The volume of InstaPay transactions climbed by 45.6% to over 571 million transactions during the period from 392 million at end-September 2022.

PESONet and InstaPay are automated clearing houses under the central bank’s National Retail Payment System (NRPS), which was rolled out in December 2015 to promote a safe, efficient, affordable, inclusive and reliable retail payments system.

PESONet caters to high-value transactions and is considered as an electronic alternative to paper-based checks.

On the other hand, InstaPay is a real-time electronic fund transfer facility for low value transactions of up to P50,000.

The increase in PESONet and InstaPay transactions is expected to help the BSP achieve its twin goals to have 50% of retail payments done digitally and 70% of adult Filipinos as part of the formal financial system by the end of this year. — Keisha B. Ta-asan

Building a prosperous, inclusive, and resilient future: The Philippines’ new partnership with the United Nations

WIKIPEDIA

ON THE CUSP of becoming an upper-middle-income economy, the Philippines stands at a critical juncture in its development trajectory. We are making significant progress toward our goal of a more prosperous, inclusive, and resilient future.

We aim to sustain this momentum as we embark on a new chapter in our partnership with the United Nations, as we mark the UN Day on Oct. 24.

Amid domestic and external risks, including weather volatility induced by climate change, geopolitical tensions, and challenges in food and energy, the Philippine government is confident that the economy will be able to return to its high-growth norm. This optimism is rooted in our strong macroeconomic fundamentals and the structural reforms our country has instituted over the years. These elements empowered us to weather a barrage of shocks caused by the pandemic and economic downturns, carving a path for a strong recovery and sustained, inclusive economic growth.

Central to our success has been our portfolio of forward-looking policies and initiatives under the Philippine Development Plan (PDP) 2023-2028 focused more than ever on economic and social transformation.

Let me mention, in particular, our focus on innovation as a cross-cutting strategy for attaining our development objectives. In recent years, the Philippine government has recognized the pivotal role of innovation in our economy. The 2023 Global Innovation Index released by the World Intellectual Property Organization is proof that we are moving in the right direction. We witnessed our country’s remarkable climb from 100th place in 2014 to 56th among 132 economies this year.

Yet, a more dynamic policy environment for our innovation ecosystem is taking shape. The Philippine Innovation Act of 2019, now shepherded by a whole-of-nation multi-stakeholder approach through the National Innovation Council (NIC), chaired by President Ferdinand R. Marcos, Jr., has set the stage for propelling innovation-driven growth in the next decades. Through the National Innovation Agenda and Strategy Document 2023-2032, the President has provided clear directions towards this end.

Let me now discuss the 2030 Agenda for Sustainable Development, a work in progress that is catalyzed by global cooperation. This is also the case for the Philippines.

In the past months, the National Economic and Development Authority (NEDA), together with the Department of Foreign Affairs (DFA), and the United Nations (UN) Country Team have endeavored to better orient the country’s partnership with the UN to serve the complementary goals of the PDP 2023-2028 and the Sustainable Development Agenda.

Today, I have the privilege of being a signatory to the United Nations Sustainable Development Cooperation Framework (UNSDCF) in the presence of the President.

The framework charts the priorities of UN activities in the Philippines for the next five years as follows:

1. human capital development, inclusion, and resilience building;

2. sustainable economic development, decent work, and innovation; and,

3. climate action, environmental sustainability, and disaster-resilience.

The UNSDCF, the first since reforms were adopted in the UN development system, is an overarching coordination tool for all UN agencies and programs represented in the country.

Amplifying Philippine ownership and leadership in development activities, this medium-term blueprint marks a truly modern partnership where parties actively work to deliver measurable improvements in the lives of Filipinos.

UN activities are to be driven by the needs and context of the Philippines, informed of our home-grown expertise and best practices and subject to joint review and monitoring.

With numerous success stories over decades of our cooperation with the UN system, including in the context of South-South cooperation, the Philippines has enjoyed its status as an active and reliable partner, and not merely a recipient of UN assistance.

With the UNSDCF guiding the cooperation for the next five years, the Philippines and the UN can elevate our partnership to showcase how the UN development system can achieve more synergy, coherence, and impact to achieve sustainable development goals globally.

I trust that this new spirit of UN engagement in the country will thrive in step with the country’s positive economic momentum. On this UN Day, we usher in a partnership that is now geared to contribute in a more meaningful way to achieving our highest hopes for the Filipino people.

 

Arsenio M. Balisacan is the secretary of the National Economic and Development Authority.

Airlines seen to maintain existing on-time showing

PHILIPPINE STAR/MIGUEL DE GUZMAN

MANILA INTERNATIONAL Airport Authority (MIAA) is expecting airline companies to maintain their current on-time performance (OTP) amid the expected surge of passengers later this year.

“With the commitment of our airline and industry partners, we aim to maintain our strong OTP record,” Bryan Andersen C. Co, MIAA officer-in-charge, said in a statement on Monday.

From an OTP of 80% in September, which it said is also the same as the record high in March, the OTP rating for October has indicated further improvement.

So far in October, it recorded an average OTP of 82.38% from the 13,519 flights that operated at Ninoy Aquino International Airport (NAIA), MIAA said, adding that this shows a majority of flights departed and arrived within 15 minutes of the scheduled time or well within international standards.

Mr. Co said that he is optimistic that airline companies will be able to sustain the rising trend in OTP during the influx of passengers for the holiday season.

“Our objective is to minimize crowding in passenger and aircraft movement areas through the timely dispatch of flights. We’re striving to establish this as a norm at NAIA. Thanks to our partnerships with airlines and government agencies, passengers are starting to notice a positive shift in NAIA operations,” Mr. Co said.

In a report, MIAA said domestic and international passenger volume at NAIA increased to 33.76 million in the nine months to September, exceeding 2022’s full-year count. — Ashley Erika O. Jose

Entertainment News (10/24/23)

Ed Sheeran to perform in Manila

POP CROONER Ed Sheeran is set to perform live in Manila on March 9, 2024, at the SMDC Festival Grounds in Parañaque City, as part of his record-breaking + – = ÷ x tour of Asia and Europe. Mr. Sheeran’s 2018 tour in Manila had a sold-out audience. His upcoming concert is being presented by AEG Presents and Ovation Productions. The special guest for the show will be singer-songwriter Calum Scott. Tickets will be available at Ovation Tickets and SM Tickets starting Oct. 26.

1989 (Taylor Swift’s Version) album launch party

THE 1989 (Taylor Swift’s Version) album will be launched officially in the Philippines on Oct. 27, with Araneta City in Cubao, Quezon City, joining the celebration in partnership with Swifties PH, a Taylor Swift fans club. The launch will conclude an interactive week-long party which includes an exhibit on the original 1989 album held at the Gateway Mall’s Activity Area. The event includes performances by various guests like Taylor Sheesh, streaming of music videos, a listening party, and other fan-organized activities. Audience registration starts at 10 a.m.

Herbalife Virtual Run 2023 now on

THE LIVE Your Best Life Herbalife Run 2023 is now open for registration. Various distance options are available, ranging from 5km to 100km for solo runners and longer distances for teams. Since it’s a running/walking app-based activity, the Herbalife Run allows participation anywhere at any time throughout November. Registration kits can be purchased until Oct. 31, and registration via the Herbalife Run App is ongoing until Nov. 15. Runs must be submitted by Nov. 30. A portion of the proceeds go towards supporting children and communities through the Herbalife Nutrition Foundation’s Casa Herbalife Program. Visit https://herbaliferun.com for more information.

Animé films to be shown in November

FILIPINO animé fans and film enthusiasts can expect a jampacked November with the successive release of animé films along with one live-action Japanese film. The Tunnel to Summer, The Exit of Goodbyes leads two young people to Urashima Tunnel, a mysterious tunnel that can grant one’s fondest wish — but at a price. The SM Cinema exclusive, directed by Tomohisa Taguchi, with the main characters in the movie voiced by Ouji Suzuka and Marie Iitoyo, arrives in theaters on Nov. 1. City Hunter The Movie: Angel Dust, the latest animé theatrical film produced by Aniplex and animated by Sunrise, marks the animé series City Hunter’s 35th anniversary. Also an SM Cinema exclusive, it is directed by Kenji Kodama and features the voices of Akira Kamiya and Kazue Ikura. It arrives on Nov. 8. Tokyo MER: Mobile Emergency Room is a live action-packed film on the hazards that medical workers face to save 193 lives from a fire at a Yokohama skyscraper. It is based on a TV series of the same title. It opens exclusively at Ayala Malls Cinemas on Nov. 22. Finally, Hayao Miyazaki’s The Boy and The Heron follows a boy named Mahito (voiced by Soma Santoki) who enters a magical world with a talking grey heron. It will open on Nov. 29 in cinemas nationwide. Follow Encore Films PH (Facebook) for more updates.

Tribute to OPM finds home at Newport

ORIGINAL Pilipino Music (OPM) has found a home at Newport World Resorts, with the Newport Performing Arts Theater holding a grand celebration of Filipino music dubbed Tribute to OPM on Nov. 11. The show is headlined by National Artist for Music Ryan Cayabyab, who will be commanding a symphony orchestra performing chart-topping hits featuring the voices of balladeer Basil Valdez, Zsa Zsa Padilla, JONA, and the vocal ensemble The Ryan Cayabyab Singers. Tickets are now available at all TicketWorld and SM Tickets outlets, priced from P2,000 to P10,800. For inquiries, contact JhayR dela Cruz at 0917-818-9847, Raf Sangco at 0917-807-9387, or Paulo San Jose at 0917-810-5031.

QCinema 2023 restored classics section unveiled

THE RESTORED classics section of this year’s QCinema International Film Festival will be available to watch this November. This year features a double bill of Wong Kar-wai films: his mirror image masterpieces Chungking Express and Fallen Angels. There is also a very different product of Hong Kong: legendary martial artist Bruce Lee. A restored version of Robert Clouse’s Enter the Dragon places Mr. Lee in the middle of a fighting tournament organized by a crime lord. The 1973 film is widely considered one of the most influential action films of all time. Completing the lineup is a work from Stanley Kubrick: the 1971 film A Clockwork Orange which remains one of his most controversial. It is based on the Anthony Burgess novel of the same name and nominated for four Academy Awards, including best picture. All the films will be screened in 4K, from Nov. 17 to 26 at the cinemas at Gateway Mall, Robinsons Magnolia, UP Town Center, Shangri-la Plaza and Power Plant Mall.

Luca Brugnoli to perform in Manila

SINGER LUCA BRUGNOLI, a former member of the world-renowned Libera Boys Choir, is set to perform live in Manila on Nov. 22 at the Carlos P. Romulo Auditorium in RCBC Plaza in Makati. The singer started his solo career in 2022 and became BBC’s Best Young Male Chorister of the Year. Luca in Concert: A Special RP – UK Friendship Presentation will also feature the Steinway & Sons Artist and Global Ambassador Dominic Ferris, young British dancer Darcey Redman, and young Philippine soprano Regina Saban. Proceeds from the concert will support the underprivileged children and scholars of the National Music Competitions for Young Artists Foundation, Inc.

Philippines ranks 68th in remote work locations list

The Philippines placed 68th out of 108 countries with a score of 0.599 (out of 1) in the 2023 Global Remote Work Index (GRWI) by network access security service NordLayer. The index evaluates countries’ potential to qualify as top remote work destinations. The Philippines was the fourth lowest among its peers in the region after Cambodia, Mongolia, and Indonesia.

 

Philippines ranks 68<sup>th</sup> in top remote work locations list

How PSEi member stocks performed — October 23, 2023

Here’s a quick glance at how PSEi stocks fared on Monday, October 23, 2023.

PSEi sinks to 6,000 level amid escalating conflict

PHILIPPINE STAR/KRIZ JOHN ROSALES

THE MAIN INDEX fell to the 6,000 level on Monday due to weak trading as investors remained on the sidelines amid the continuing conflict in the Middle East.

The Philippine Stock Exchange index (PSEi) went down by 54.46 points or 0.88% to close at 6,088.44 on Monday, while the broader all shares index dropped by 26.36 points or 0.79% to end at 3,303.06.

“The PSEi ended lower for the fourth consecutive trading day as the escalating Israel-Hamas war, with both Iran and the United States now being dragged into the picture, has continued to keep investors on the sidelines,” Unicapital Securities, Inc. Senior Equity Research Analyst Carlos Angelo O. Temporal said in a Viber message.

“The ongoing conflict between Hamas and Israel has introduced geopolitical uncertainties, leading to cautious trading among investors. These tensions have also contributed to instability in oil prices, as the region plays a significant role in global energy markets,” Seedbox Securities, Inc. Equity Trader Jayniel Carl S. Manuel likewise said in an e-mail.

Israel bombarded Gaza with more air strikes on Monday ahead of an anticipated ground operation into the besieged Palestinian enclave as the United Nations warned that civilians were running out of places to seek shelter, Reuters reported.

In signs that the conflict was spreading, Israeli aircraft also struck southern Lebanon overnight and Israeli troops clashed with Palestinians in occupied West Bank, residents said.

Health authorities in Gaza said at least 4,600 people have died in Israel’s two-week bombardment after an assault on Oct. 7 by Hamas militants on southern Israeli communities in which 1,400 people were killed and 212 taken as hostages.

The Philippines’ Department of Foreign Affairs (DFA) has now placed Lebanon under crisis warning Alert Level 3 for the voluntary repatriation of Filipinos there.

The DFA earlier placed Gaza under Alert Level 4, making the evacuation of Filipinos in the area mandatory.

Market sentiment was also affected by bets of further tightening by the Bangko Sentral ng Pilipinas and the US Federal Reserve due to inflation risks posed by the war in the Middle East, Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message.

All sectoral indices dropped on Monday. Financials fell by 30.33 points or 1.73% to 1,718.63; mining and oil declined by 146.74 points or 1.44% to 10,028.37; industrials went down by 82.41 points or 0.94% to 8,664.20; holding firms dropped by 41.54 points or 0.7% to 5,828.77; services sank by 9.70 points or 0.64% to 1,497.03; and property decreased by 7.86 points or 0.3% to 2,594.51.

Value turnover went down to P3.30 billion on Monday with 551.51 million shares changing hands from the P4.01 billion with 627.07 million issues seen on Friday.

Decliners outnumbered advancers, 123 versus 50, while 55 shares closed unchanged.

Net foreign selling climbed to P777.62 million on Monday from P704.73 million on Friday. — SJT with Reuters

Peso steady vs dollar

BW FILE PHOTO

THE PESO closed unchanged against the dollar on Monday amid the ongoing war in the Middle East and expectations of monetary tightening at home.

The local currency closed at P56.84 versus the greenback on Monday, steady from Friday’s finish, data from the Bankers Association of the Philippines’ website showed.

The peso opened Monday’s session stronger at P56.75 per dollar. Its intraday best was at P56.72, while its weakest showing was at P56.87 against the greenback.

Dollars traded rose to $950.5 million on Monday from $912.27 million on Friday.

“The dollar slightly corrected lower versus major global currencies after some mixed developments related to the Israel-Hamas war lately,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

Japan’s yen weakened briefly on Monday to the 150-per-dollar level, as elevated US Treasury yields kept the dollar supported across the board but without pushing it too much higher, Reuters reported.

Investors are waiting for several events this week, including the European Central Bank meeting, and the release of US gross domestic product data and the US Federal Reserve’s preferred inflation gauge.

Besides that, the risk of Israel’s war on the Islamist group Hamas becoming a wider regional conflict is keeping markets on edge, as Israeli airstrikes battered Gaza early on Monday, and the United States dispatched more military assets to the region.

The dollar index firmed a fraction to 106.23, with the euro down 0.1% at $1.0586.

“The peso closed unchanged today as market participants weigh on the possibility of a BSP (Bangko Sentral ng Pilipinas) rate hike before yearend,” a trader said in an e-mail.

The central bank may hike its policy rate by 25 basis points (bps) during their Nov. 16 meeting after inflation picked up for a second month in a row in September, BSP Governor Eli M. Remolona, Jr. said earlier this month.

The Monetary Board has kept the policy rate at a near 16-year high of 6.25% at its last four meetings. It raised borrowing costs by 425 bps from May 2022 to March 2023 to help bring down inflation.

For Tuesday, Mr. Ricafort sees the peso ranging from P56.75 to P56.95 per dollar, while the trader expects it to move between P56.70 and P56.90. — MJBP with Reuters

Farmers say lowered tariffs deprive industry of funding

PHILIPPINE STAR/ MICHAEL VARCAS

THE GOVERNMENT has had to forego billions of pesos in revenue by keeping tariffs low on rice, pork, and corn imports, agricultural producers argued at a Tariff Commission hearing on Monday.

Federation of Free Farmers National Manager Raul Q. Montemayor said the reduced revenue resulting from the low tariffs produces no benefits, particularly for programs expressly funded by such import tariffs.

“Imports from non-ASEAN countries have not significantly increased, nor have they influenced retail prices,” Mr. Montemayor said, referring to the expansion of the low-tariff regime to grain suppliers from outside the trading bloc.

“In the process we have lost over (P1 billion) which went mostly to the pockets of importers and traders. This money should have gone to help our rice farmers cope with rising production costs,” he added.

ASEAN rice used to enter the Philippines at a favorable tariff, set by trade agreements at 35%, with rates from other rice sources previously set considerably higher.

A Duterte-era executive order had temporarily equalized the tariff treatment of ASEAN and non-ASEAN rice as an inflation-containment measure. The executive order also called for lowered tariffs on corn and pork.

Executive Order No. 10, signed by President Ferdinand R. Marcos, Jr. last year extended the low-tariff regime until Dec. 31, 2023.

National Economic and Development Authority (NEDA) Secretary Arsenio M. Balisacan said an inter-agency committee had recommended the further extension of the low-tariff regime, citing high global prices for the three commodities.

Last month, Mr. Marcos rejected a proposal to further reduce tariffs on rice, citing stabilizing global prices. NEDA had proposed to cut tariffs to as little as 0%.

Nicanor M. Briones chairman of the Pork Producers Federation of the Philippines, also argued at the hearing that the foregone revenue from lowered pork tariffs could have been used to aid the hog industry.

He added that the current tariff regime has caused hog farmers’ earnings to decline due to competition from pork imports.

Tariffs on pork were set at 15% for shipments falling within the minimum access volume (MAV) quota and 25% for those exceeding MAV.

“(The government is) losing about P8.4 billion in revenue… which could have given to help hog farmers combat African Swine Fever (ASF),” Mr. Briones said.

The Department of Agriculture has said that the supply of domestic pork is projected to be in deficit equivalent to 10 days’ demand during the fourth quarter, as consumption picks up during the holidays.

Philippine Maize Federation, Inc. Artemio M. Salazar said that proposal to extend lower corn tariffs was “bereft of analysis of the seasonal dynamic of corn production and its effects on corn producers.”

Corn tariffs are currently at 5% and 15% for those within the quota and those exceeding it, respectively.

The Tariff Commission is looking into a possible extension of the low-tariff regime covering the three commodities at the request of economic managers.

“This could enable importers and traders to diversify sources of imports to non-ASEAN exporting countries that may offer a more competitive price on the commodities,” according to a statement signed by Finance Secretary Benjamin E. Diokno and Mr. Balisacan. — Adrian H. Halili

APEC councils to conduct roundtable on nuclear power viability

STOCK PHOTO | Image by Markus Distelrath from Pixabay

INTERNATIONAL and Philippine experts will convene today, Tuesday, to discuss the Philippines’ plan to develop a nuclear energy industry, a business advisory group said.

In a statement, Aboitiz Group said that the APEC Business Advisory Council (ABAC) Philippines and ABAC Canada will conduct a roundtable discussion on financing mechanisms to develop nuclear energy.

Sabin M. Aboitiz, president and chief executive officer (CEO) of Aboitiz Group, who is also a member of ABAC Philippines and vice chair of the ABAC Sustainable Growth Working Group, will kick off the event.

“Nuclear energy is more than just power; it’s a promise of a clean, strong future where progress and care for our planet go hand in hand,” Mr. Aboitiz said.

He will be joined by Jan De Silva, chair of the ABAC Digital Innovation Working Group and president and CEO of the Toronto Region Board of Trade.

“Since our first roundtable, Canada’s Province of Ontario announced its biggest-ever nuclear expansion. We are doubling production at the world’s largest nuclear generation station, refurbishing our oldest operating plant and working on 4 small modular reactors (SMRs). These are the most scalable clean energy solutions to meet our growing need for electrification,” Ms. De Silva said.

The second roundtable will serve as a preparatory platform to further fine-tune the presentation of the ABAC Sustainable Growth Working Group on the feasibility of nuclear energy for the upcoming ABAC 4 meetings scheduled in San Francisco next month.

“The insights and discussions from this roundtable will be integral in finalizing and enriching the content and recommendations of the presentation,” the company said.

Energy Secretary Raphael P.M. Lotilla is also set to headline the event to discuss the challenges in harnessing the full potential of the country’s existing energy sources and exploring emerging technologies towards a cleaner and more sustainable environment.

Jose M. Layug, Jr., president of the Developers of Renewable Energy for Advancement, Inc., said that the Philippines has to consider the cost for nuclear energy development.

“The Philippines has a diverse portfolio of energy sources. What’s critical for the Philippines really is the cost. Okay, we study nuclear, but is that as competitive as coal and LNG (liquefied natural gas)?,” he said in a recent virtual interview.

“If it is then there’s no problem, provided we take into account safety, of course the feedstock management. No problem as long as we are able to address this, particularly the cost,” he added. — Sheldeen Joy Talavera

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