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Make mine MX-5

Race toppings: Whether in soft or hard top, the MX-5 or Miata has proven to be a winning product for Mazda. — PHOTO FROM MAZDA PHILIPPINES

The world’s favorite roadster is back for (and with) more

WOULD YOU believe it if there was a car enthusiasts’ group so passionate and enduring, that at some point the country’s brand distributor would actually offer a vehicle variant in celebration of that club’s silver anniversary?

Well, that’s exactly the case with the Miata Club Philippines (MCP) — an exceptionally tight and consistently active Mazda Miata enthusiasts’ group — that is now celebrating its 25th anniversary in the Philippines.

In case you haven’t heard, Mazda Philippines has recently unveiled its beautiful 2022 Mazda MX-5 model, now with the option for a new body color, new interior trim color and further personalization. It also comes with new tech called Kinematic Posture Control (KPC), which basically makes taking fast corners with the already amazingly balanced MX-5 even more enjoyable. KPC is essentially a type of suspension-brake integrated tech that keeps the car better planted on the road even with heightened G-forces. This, according to Mazda’s Shigeki Saito, further improves the driver’s “one-ness” with the MX-5, even at higher speeds. And as a bonus, there is absolutely no extra weight added onto the vehicle to accommodate this new tech!

“With over a thousand examples sold by our distributorship since 2014, the Mazda MX-5 continues to be a popular and highly regarded sports car in the Philippines,” shares Steven Tan, President and CEO of Mazda Philippines. Furthering that, “Mazda’s lightweight, open-top formula — as seen on the MX-5 — has consistently been realized for more than 30 years. But we believe there is still room to involve the driver even more and enhance the emotional bond with his car… That is why we are continuing to elevate this already unique driving experience with the introduction of new features and owner-initiated options that will make future MX-5 owners even happier and fulfilled.”

Having said that, there is now also on-offer a soft-top version of the lovely MX-5 Club Edition — yes, the fancy one with the Recaro Sport bucket seats and 17-inch forged BBS wheels and all. In fact, there is now a total of 76 combinations possible when one chooses to customize his or her own 2022 Mazda MX-5 via www.mazda.ph’s Build Your MX-5 portal. If you do so, you’ll be looking at a possible wait time of four or five months before you receive your order. Given the global microchip shortage caused by COVID and all, that’s not bad.

But how does all this connect with the special variant I earlier mentioned — that trim that celebrates the silver anniversary of what some like to argue is the most-active, long-lasting and joyful car club in the Philippines? Yes, I’m talking about MCP!

Well, Steven Tan also revealed that Mazda Philippines is now offering a special Mazda Club Philippines 25th Anniversary Edition MX-5 variant — available from Feb. 28 this year to September 2023 only. It comes with a blue top, black leather seats, and in the new body color of Platinum Quartz (since its beautiful quartz luster was chosen to symbolize “unending youth”). This special variant is also immediately recognizable via its unique, thin red strip that runs from front to rear. And all buyers of the MCP 25th Anniversary Edition MX-5 will also receive a special MCP 25th anniversary book together with their purchase.

To clarify, this variant will not be sold in a limited number of units. Instead, it will be produced based on demand — albeit for a limited time. Furthermore, the first delivery of these special units will, of course, be for buyers who are MCP members.

Oh, and all 2022 Mazda MX-5 variants are priced below P3 million! Long live the genius affordability of Mazda’s roadster!

Shares to remain volatile on Russia-Ukraine rift

STOCKS could move sideways this week due to the ongoing conflict between Russia and Ukraine and its impact on oil prices.

On Friday, the 30-member Philippine Stock Exchange index (PSEi) dropped 20.14 points or 0.27% to 7,418.79, while the broader all shares index fell 10.62 points or 0.27% to finish at 3,923.69.

Week on week, the PSEi increased 148.43 points from its finish of 7,270.36 on Feb. 11.

“The local bourse regained strength as investors took advantage of last week’s dip to reposition funds ahead of a potential 7,500 retest,” online brokerage 2TradeAsia.com said in an e-mail.

For the coming week, analysts said tensions between Russia and the Ukraine could continue to affect the market.

“The market will continue its volatility in the coming week as Russia continues to threaten Ukraine with a war. Also, global inflation from supply constraints due to the pandemic, as well as rise in oil prices attributed to the geopolitical crisis from Russia-Ukraine conflict,” Diversified Securities, Inc. Equity Trader Aniceto K. Pangan said in a text message.

Russia’s strategic nuclear forces held exercises overseen by President Vladimir Putin on Saturday, and Washington accused Russian troops massed near Ukraine’s border of advancing and being “poised to strike,” Reuters reported.

With Western fears of war rising, the White House said US President Joseph R. Biden, Jr.’s national security team told him they still believed Russia could launch an attack in Ukraine “at any time” and he planned to convene his top advisers on Sunday to discuss the crisis.

Foreign ministers from the G7 group of rich nations said they had seen no evidence Russia is reducing its military activity in the area and remained “gravely concerned” about the situation.

On Friday, Brent crude futures settled 57 cents or 0.6% higher at $93.54 a barrel, while US West Texas Intermediate (WTI) crude dropped 69 cents or 0.5% at $91.07 a barrel.

Meanwhile, expectations of sustained low borrowing costs at home in the first quarter despite the US Federal Reserve’s planned rate hikes will support the local market, 2TradeAsia.com said.

The Bangko Sentral ng Pilipinas last week kept benchmark interest rates steady to support the economy’s recovery.

“[In] the near term, should global rates increase at a rate unmirrored at home, local equities may likely benefit from yield drops in competing fixed income securities. This is on top of capital flight towards emerging markets where there is more legroom for alpha,” the online brokerage said.

2TradeAsia.com said the release of corporate financial reports will drive trading this week as results are expected to boost confidence in seasonal industries like consumer, banking, and leisure and tourism.

The brokerage put the PSEi’s immediate support at 7,300 and resistance at 7,500 to 7,550 for the week.

Meanwhile, Mr. Pangan said the market’s immediate support could be at 7,200 and immediate resistance at 7,500. — L.M.J.C. Jocson with Reuters

PLDT inches down as investors look for other growth sectors

By Abigail Marie P. Yraola, Researcher

PLDT, Inc. shares dipped as investors rotated their funds by shifting to other sectors poised to grow as movement restrictions gradually eased.

Data from the Philippine Stock Exchange (PSE) showed a total of 666,815 PLDT shares worth P1.2 billion exchanged hands from Feb. 14 to 18, making it the 11th most actively traded in the stock market last week.

PLDT finished at P1,782 apiece on Friday, down by 2.6% week on week. Year to date, the stock’s price fell by 1.7%.

Regina Capital Development Corp. Equity Analyst Anna Corenne M. Agravio said PLDT was volatile than usual last week, attributing it to “investor’s rotation,” as the number of coronavirus disease 2019 (COVID-19) cases decline and the government lowering the alert level systems in the country.

“Investors rotated their funds out of pandemic-defensive stocks, such as PLDT, and into stocks considered as ‘reopening plays,’” she said.

For PNB Securities, Inc. President Manuel Antonio G. Lisbona, the stock’s price action implies that the market is expecting PLDT to generally underperform the market for the next six to 12 months.

“This is in line with our estimated valuation… implies a 10.2% downside from the current price, which of course, can be tempered or reversed if PLDT’s full-year 2021 results surprise to the upside,” Mr. Lisbona said.

As of Feb. 18, the country posted 2,232 new coronavirus infections, the 10th consecutive day additional infections fell below 5,000, bringing the total cases since the pandemic started to 3.6 million. Active cases stood at 65,796.

Metro Manila and nearby areas will remain under Alert Level 2 until the end of the month as new infections remain low.

Under Alert Level 2, more business establishments are allowed to operate at higher capacities of up to 70%.

Last Monday, the corporate business unit of the PLDT group, PLDT Enterprise, announced its partnership with Multisys Technologies Corp., a software solutions company, to provide e-commerce solution Multistore for small enterprises.

Multistore is designed to help businesses build their brand and increase sales through digital by creating an online presence for their products and services “in a short amount of time and at a much lower cost.”

Ms. Agravio said the partnership is generally a net positive for PLDT. However, it did not make an impact on the company’s share price.

“The e-commerce solution allows PLDT to tap into an attractive growth pocket that has promising returns in the future. Therefore, it has the potential to grow into something bigger, which could benefit PLDT in the longer scheme of things,” she said.

In the nine months to September last year, PLDT’s revenues rose by 8% year on year to P143.86 billion. Its attributable net income during the period reached P18.85 billion, lower by 4.3%.

Ms. Agravio expects PLDT to report an attributable net income of around P25 billion for 2021 and close to P27 billion this year.

“It is highly likely that PLDT was able to sustain its top-line growth in Q421 (fourth quarter 2021), but net income could go both ways depending on the company’s expenses during the period,” she said.

For Mr. Lisbona, PLDT remains to be a core recommendation given its history of consistent dividend payments.

“At the current price of P1,782, the gross dividend yield is 4.60%. Investors should slowly accumulate especially on days where the price dips.”

He placed the telecommunications company’s immediate support at P1,750 and immediate resistance at P1,850.

For Ms. Agravio, support is at P1,760 while resistance is at P1,860.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls.

Style (02/21/22)

Samples of Suyam. — PHOTO COURTESY OF CARLITO CAMAHALAN AMALLA

Agusan Manobo embroidery art workshop free on Zoom

VISUAL artist Carlito Camahalan Amalla, a member of the Agusanon Manobo tribe, will share the traditional and contemporary perspectives of their own embroidery art in a free two-part online workshop entitled “Suyam: Sining ng Pagbuburda”. Mr. Amalla, the founder and leader of the Agusan Artists Association in Butuan City and the Balangay Artists Association in Manila, will discuss the textile heritage of suyam, an embroidery characterized by the various geometrical designs. He will expound on the creative process behind the craft, the significant role of women weavers in keeping this local cultural expression and native knowledge alive, plus its developments with the help of modern methodologies and equipment. Amalla is a performer, puppeteer, dancer, chanter, musician, ceramist and researcher who participated in art exhibitions in Wales, Belgium, England, and USA. Suyam: Sining ng Pagbuburda is free and open to the public. It is organized by the Arts and Culture Cluster of the De La Salle-College of Saint Benilde, where Amalla is an assistant professor under the School of Design and Arts. The discussion and workshop will be conducted via Zoom on Feb. 23, 2 p.m. The contemporary suyam session will be held on March 2, 2 p.m. Interested participants may register through https://tinyurl.com/5n7bjdtb. For more information, visit Benilde Arts and Culture Cluster on https://www.facebook.com/benildearts.

New sunscreen from Japanese brand Sunplay

JAPANESE brand Sunplay offers Skin Aqua, a range of beauty sunscreens for daily use, as part of a regular skincare routine. Formulated to hydrate, brighten, and moisturize the skin, the range has three products: UV Watery Essence, which offers UVA/UVB protection with SPF50 and PA++++, enriched with hyaluronic acid, sunflower seed oil, and rosemary leaf extract to hydrate and moisturize skin and prevent moisture loss from daily sun exposure;  UV Watery Gel with UVA/UVB with SPF50 and PA++++ protection and hyaluronic acid and nine other moisturizing ingredients in a hydrating gel format that is absorbed quickly into skin for a water-light weightless feel; and the Sarafit Tinted Base, which protects the skin from UVA/UVB rays with SPF50, PA+++, and also offers blue light protection. Sunplay also has products that provide superior protection against UVA and UVB rays by offering the highest SPF and PA levels with a light texture, perfect for staying under the sun for long periods of time. These include Ultra Shield SPF130 Lotion, Ultra Shield SPF 130 Body Mist, and Water Kids SPF60 Lotion. All three have a “Watery Liquid” formulation that is lightweight, non-greasy, and transparent on skin. Other Sunplay sunscreens developed for outdoor sport activities are the Sport SPF120 Lotion and Sport SPF120 Body Mist. Both boast of SPF 120 PA++++ for broad spectrum UVA/UVB protection. They are water and sweat-resistant for up to four hours, and do not drip off on wet skin. These sunscreens also have a quick-dry formula that feels matte, light, non-greasy, and leaves no white residue on the skin. Sunplay is available at the official Mentholatum store on Lazada.

Selsun Blue on dandruff causes

SELSUN BLUE clears up some myths about dandruff and shares some tips to healthy hair. Dandruff is flakes of dead skin that form on the scalp that’s usually accompanied by itching, redness, and irritation. While it’s normal for skin cells to die and flake off, some people experience an unusually large amount of flaking. This should not be a cause of concern, but common misconceptions can aggravate the condition. Dandruff can be caused by dry skin, sensitivity to haircare products, product buildup, or poor hygiene. It is not contagious. Chronic dandruff is usually linked to seborrheic dermatitis, an inflammatory skin condition that may be driven by a fungus called malassezia globossa that’s found naturally on everyone’s skin. It feeds on the oils and fatty secretions in the skin and scalp and doesn’t always cause problems. But sometimes it grows out of control and can irritate the scalp and cause more skin cells to grow, which eventually die, fall off, and clump together with oil from the hair and scalp, making them appear white, flaky, and visible in the hair or on the clothes. Sloughing away flakes from the hair and scalp may be satisfying, but these steps can further inflame and irritate the skin, worsen dandruff, or even lead to infection. Treating hair with oil may also not work for everyone, especially if the problem is caused by an oily scalp, which can only make flakes greasy. The best way to manage dandruff is to use shampoo that aims to keep the scalp healthy. Selsun Blue, for example, is formulated with Selenium Sulfide 1% which attacks a root source of this skin issue. Selenium Sulfide is an anti-infective and anti-fungal agent, approved by the US Food and Drug Administration. As an anti-infective, it prevents fungus and bacteria from growing on the skin. And secondly, it also slows down the rate of skin cell death and turnover. The 1% concentration of Selenium Sulfide found in Selsun Blue can stop the accumulation of scaly dandruff particles and reduce any redness and itching from seborrheic dermatitis of the scalp. It’s recommended for use at least twice a week or as directed by a doctor. For alternate days, using regular shampoo is fine. Watsons is offering a discount — 10% off for non-members and 20% off for members — on the second bottle of Selsun Blue bought until Feb. 27. Learn more about hair and scalp health, at selsunblue.com.ph.

Asa Miller wears ASICS at Winter Olympics

THE SOLE athlete to represent the Philippines, alpine skier Asa Bisquera Miller, wore ASICS at the 2022 Winter Olympics Opening Parade in Beijing, China. ASICS was the official outfitter of Miller at the Parade of Nations during the opening ceremony. SONAK Corp. has been supporting Filipino athletes in their Olympic journeys. During the 2020 Tokyo Olympics and 2019 SEA Games, ASICS was the official apparel and footwear of these individuals.

PHilMech completing tests on rice dryer prototype in Nueva Ecija

PHILMECH

THE Philippine Center for Postharvest Development and Mechanization (PHilMech) said it is close to wrapping up testing and development in Nueva Ecija of fluidized bed dryers, which it intends to distribute commercially to rice farmers.

“The current prototype model now has a bigger capacity and once commercialized, will be of great benefit to palay (unmilled rice) farmers, as much of the drying of their harvests is still being done on the road. During rainy weather, most palay farmers have a hard time drying their harvests,” PHilMech Executive Director Baldwin G. Jallorina said in a statement.

“One of the best features of the fluidized bed dryer is it results in the uniform drying of palay, which in turn assures the quality of the dried palay,” said Romualdo C. Martinez, project leader of PHilMech’s Agricultural Mechanization Division.

“Many farmers still dry their palay on the road and on pavements. This does not assure the uniform drying of palay unlike advanced drying systems like the fluidized bed dryer,” he added.

The prototype has the capacity to dry 20 to 24 tons of palay per 10 to 12-hours drying cycle. It uses heat generated by a biomass furnace or a diesel burner.

Two cooperatives in Talavera and Sto. Domingo are currently involved in the testing, evaluation and improvement of the dryer.

In December, PHilMech conducted a technology demonstration for the fluidized bed dryer in Sto. Domingo for farmers from various cooperatives. — Luisa Maria Jacinta C. Jocson

Peso may decline on safe-haven demand

BW FILE PHOTO

THE PESO may depreciate versus the dollar this week on rising safe-haven demand due to tensions between Russia and Ukraine.

The local unit finished trading at P51.35 per dollar on Friday, two centavos weaker than its P51.33 close on Thursday, based on data from the Bankers Association of the Philippines.

It also dropped by a centavo from its P51.34-to-the-dollar finish on Feb. 11.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort in a Viber message said the peso was weaker due to risk aversion amid the likelihood of a Russian invasion of Ukraine.

The market will monitor any additional signals from the US Federal Reserve on monetary policy tightening to better control inflation, he added.

The lack of local data releases this week could cause the market to follow developments overseas, UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said in an e-mail.

He also expects increased demand for safe-haven currencies like the dollar due to geopolitical tensions.

US President Joseph R. Biden has warned that Russian troops could invade Ukraine “in the coming days,” Reuters reported.

Russia’s nuclear forces held drills supervised by Russian President Vladimir Putin on Saturday.

Meanwhile, Fed Chair Jerome H. Powell is set to deliver his monetary policy update to the US Congress on March 2 and 3 as the Fed gears up to start raising rates next month.

For this week, Mr. Ricafort set a forecast range of P51.15 to P51.45 per dollar, while Mr. Asuncion expects the local unit at P51 to P51.5 band. — JPI with Reuters

Sotto, Adelaide 36ers rally, stop Cairns Taipans, 82-71

KAI SOTTO — ADELAIDE 36ERS FB PAGE

PHILIPPINE wunderkind Kai Sotto unleashed his defensive prowess as the Adelaide 36ers shrugged off a slow start to beat the Cairns Taipans, 82-71, in the Australia National Basketball League (NBL) on Sunday at the Adelaide Entertainment Center.

The 7-foot-3 Filipino sensation listed three blocks and a steal on top of five points and five rebounds in just 12 minutes of play as the 36ers erased an early 9-23 deficit.

Mr. Sotto previously had three straight double-digit scoring including a game-clinching bucket in the 36ers’ 88-83 upset of reigning champion Melbourne United.

Adelaide improved to 5-7 and exacted vengeance on Cairns after a 93-67 loss last December that also marked Sotto’s official NBL debut following a knee soreness issue.

Mr. Sotto’s defensive brilliance complemented Adelaide’s balanced attack led by Daniel Johnson with 18 markers, nine rebounds and two blocks.

Mitch Mccarron, Sunday Dech and Dusty Hannahs added 14, 13 and 10 points, respectively.

Mr. Sotto and the 36ers look to get a run going on the road next Friday against the Illawarra Hawks at the WIN Entertainment Center. — John Bryan Ulanday

MIAS 2022 is ready to get physical from April 7-10

MIAS organizers, auto company executives, and guests gather at the last physical staging of the country’s largest auto show in 2019 before the onset of the COVID-19 pandemic. Attendees this year will probably notice not a few changes to the spectacle. — PHOTO BY KAP MACEDA AGUILA

THESE MAY BE called tentative first steps again — or, at the very least, proof of life — but the country’s largest, longest-running yearly motoring spectacle is ready to make a comeback in the metal.

Despite being waylaid last year because of the pandemic, the Manila International Auto Show (MIAS) did manage an online staging in 2020 (from Dec. 16 to 20), calling itself “MIAS Wired.” MIAS co-organizer Alvin Uy shared with “Velocity” that they tracked at least 100,000 page views, and described that effort as “a good initial attempt.”

He explained, “We did consider another virtual event last year, but a few things made us decide not to hold another one. First, the virtual showroom where we could perform a 3D scan needed a physical venue, and the most viable one would be the car brand’s dealer showroom. But we did that already. If we used it again, it would be redundant.”

Mr. Uy underscored that to construct another venue for the purpose would have been “very cost prohibitive as well.” The decision was thus made to just shelve the show last year and look at staging a physical event this year.

He does relish the fact that MIAS was the first auto show to provide a virtual exhibition experience. “We wanted our visitors to be able to navigate the brand’s showcase in the safety of their homes. The interactive features also included clickable links that provided information and video content about the various car models at the convenience and leisure of the user. This service was extended even beyond the duration of the MIAS weekend,” Mr. Uy explained.

As with webinars, perhaps the sheen or novelty of the online experience has begun to wear off. Couple this with the markedly improved COVID-19 caseload, and you could see why Alvin and company are looking at, well, the real deal. “We are glad we can already hold live on-ground events again,” he stated. “The interest from car brands and the OEM market seems healthy. In fact, some auto brands asked to upsize their booth exhibit floor space.”

Concurred Worldbex Managing Director Jill Ang, “With the improving current situation and lower number of new cases plus the increasing number of vaccinated individuals thanks to the government’s aggressive campaign, we are confident that we can already stage the MIAS once again after a two-year hiatus. We discussed this initially with our exhibit partners and many of them agree that we can hold on-ground events once again, under the guidelines of the new normal.”

When MIAS was last held physically in 2019, it had mirrored the upward trajectory of the auto industry. By Worldbex Services International’s reckoning, over 142,000 had trooped to the World Trade Center in Pasay City to see new cars, after-market products, and other goings on. Over 150 companies and 300 car displays and exhibits made it a magnet for a growing number of enthusiasts and even casual observers.

“MIAS has always been the platform for the latest trends in the industry,” boasted Mr. Uy. So it wouldn’t be a stretch to say that as the local auto sector goes, so does MIAS.

But as Ms. Ang said, the “new normal” means that some things at MIAS won’t be as regular show attendees remember. World Trade Center Metro Manila (WTCMM) management is putting in place a number of safeguards in keeping with government safety and health protocols amid a still-raging pandemic.

Aside from exerting stricter control on the number of people in the venue, each guest’s temperature will be taken, and no-contact registration (and contact tracing) will be enforced. As in other responsible venues, sanitation and social distancing will be the norm.

“Based on parameters released by the American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE), the WTCMM Exhibition Halls ascribe to the minimum standards of providing Acceptable Indoor Air Quality,” reported WTCMM in its “Be Safe” advisory.

“Even as we will implement our own safeguards, we will also definitely comply with what the LGU will require of us,” assured Mr. Uy.

As for the other staple events that MIAS regulars look forward to, Mr. Uy reported that guests can definitely expect a similar menu of happenings. He confirmed with “Velocity” that globally renowned precision driver and Guinness World Records holder Russ Swift will be back to showcase his skills.

“Aside from the car brand displays, hundreds of OEM and after-market accessories will have display booths showcasing the latest hardware and services, commercial vehicles and heavy equipment, a miniature diecast car collection and swap meet, custom and classic car displays, and visitors also get to test-drive their favorite car brands all in one venue,” he said.

It sounds like our favorite summer spectacle is back, all right. Now let’s go and circle that day on the calendar. — Kap Maceda Aguila

Philippines 43rd in tobacco industry influence list

Philippines 43<sup>rd</sup> in tobacco industry influence list

How PSEi member stocks performed — February 18, 2022

Here’s a quick glance at how PSEi stocks fared on Friday, February 18, 2022.

EU withdrawal of GSP+ privilege not seen derailing PHL recovery

REUTERS

By Revin Mikhael D. Ochave, Reporter

THE LOSS of preferential market access to the European Union (EU) via its Generalized Scheme of Preferences Plus (GSP+) scheme is not expected to deal a major setback to the Philippine economic recovery, economists said.   

University of Asia and the Pacific Senior Economist Cid L. Terosa said in an e-mail interview that the Philippines has the sovereign right to manage its internal affairs without external intervention or pressure.

“The EU is an important trade and economic partner, but the Philippines has other partners that do not share EU’s point of view. I don’t believe that EU by itself can derail the impending economic resurgence of the country,” Mr. Terosa said.

The EU requires GSP+ beneficiaries to sign on to various core international conventions regulating worker rights, illegal fishing, and environmental protection. Occasional disagreements over the government’s human rights record have led to threats that the Philippines might be denied GSP+ market access.  

“For several years now, domestic forces have driven the economy forward and cushioned the impact of external fluctuations on the Philippine economy. External forces have played second fiddle to the power of the domestic market,” he added.

On Feb. 17, the European Parliament approved a resolution that called on the Philippine government to address violence and human rights violations or risk temporarily losing access to GSP+ trading arrangements.

The resolution also urged the Philippine government to amend Republic Act No. 11479, or the Anti-Terrorism Act and its implementing rules and regulations, to meet international standards on counter-terrorism.

“I wouldn’t say it will stall our economic recovery but it would reduce our exports and lower our investment prospects,” Foundation for Economic Freedom President Calixto V. Chikiamco said in a mobile phone message.

Trade Secretary Ramon M. Lopez said in a Viber message that the allegations of the EU on human rights are “fake news” and give a false impression of the Philippines. 

“While it is not new, their allegations on human rights and lack of press freedom are fake news, and those only give false impressions on the real situation in the Philippines.  They should visit our beautiful country,” Mr. Lopez said.

“They should ask the Filipinos in their companies or communities.  They should also ask the EU citizens (and) the EU business chambers in the country,” he added.  

GSP+ allows zero-tariff entry of more than 6,200 Philippine products to EU. The benefits of the GSP+ will apply as long as the country complies with 27 conventions. The trade agreement started in January 2014 and is set to end on Dec. 31, 2023.

Mr. Lopez said the Philippines continues to provide updates to the European Commission. A GSP+ monitoring mission is due to evaluate the Philippines at the end of the month.

“This process is more systematic and organized in obtaining accurate information regarding the real situation in the country. They get to visit as well the projects and the marginalized sectors that get to benefit from the EU GSP+ and other stakeholders,” Mr. Lopez said.  

In a statement on Sunday, the Department of Trade and Industry (DTI) said an existing dialogue mechanism allows discussion and clarification of the human rights situation and other concerns.

“The Philippines has been very cooperative with the EU and has repeatedly addressed these concerns in existing dialogue mechanisms. The Philippines remains compliant with the 27 international core conventions on human rights, labor, environment and good governance to enjoy GSP+ treatment,” Mr. Lopez said.

Mr. Lopez also said that GSP+ helps micro, small, and medium enterprises, fisherfolk, farmers, and workers in the export value chain. 

According to Trade Assistant Secretary Allan B. Gepty, the Philippines is willing to work with the EU to address its concerns.

“This is not the first time that the European Parliament approved such a resolution. The European Parliament also passed similar resolutions in 2016, 2017, 2018, and 2020. The Philippine government remains ready to cooperate and work with the EU to clarify these issues and concerns,” Mr. Gepty said.

Joseph F. Purugganan, Trade Justice Pilipinas co-convenor, said in a mobile phone message that the Philippine government is solely responsible for drawing scrutiny from the EU.

“We support strongly the demand… to initiate withdrawal procedures for GSP+ trade preferences to the Philippines. Our position is that the Duterte government, by failing to act on the human rights situation and failure to comply with the obligations under the GSP+ program, has forfeited these preferences. The blame falls squarely on the government,” Mr. Purugganan said.

The DTI said exports to the EU under GSP+ were valued at 1.6 billion euros in 2020, for a utilization rate of 75% on eligible exports.

“The scheme benefits several communities such as, but not limited to General Santos, Davao, Cebu, and economic zones located in Laguna, Cavite, and Batangas, where most exporters, taking advantage of the scheme, are located,” the DTI said.

Consultants sought for two S.Korea-backed projects

DPWH

THE Department of Public Works and Highways (DPWH) said it is inviting consultants to bid for the South Korea-backed feasibility study component of two road projects in Pampanga and Bukidnon.

The department published in a newspaper over the weekend a “request for expressions of interest” for consulting services for the feasibility study of Lubao-Guagua-Sasmuan-Minalin-Santo Tomas Bypass Road, funded by the Philippines-Korea Project Preparation Facility or PK-PPF.

The project will allow motorists from Bataan to bypass congested town centers through to the Santo Tomas section of MacArthur Highway.

The DPWH is requesting similar expressions of interest for consulting services for the feasibility study of the Mount Kitanglad Range Belt Road in Bukidnon.

The DPWH said the documents for both contract packages must be received by the Bids and Awards Committee Secretariat on or before 9 a.m. on March 7.

The Department of Finance (DoF) announced in 2020 that South Korea will provide the Philippines a $50-million loan to fund the feasibility studies and other project preparation activities “necessary to speed up the implementation of the Duterte administration’s ‘Build, Build, Build’ infrastructure projects.”

The DoF and the Export-Import Bank of Korea (KEXIM) signed the loan agreement worth to P2.73 billion for the PK-PPF.

“This project preparation facility will have a total cost of about $71 million, of which $50 million will be accessed through the loan extended by KEXIM through South Korea’s Economic Development Cooperation Fund (EDCF),” the DoF said.

The balance will consist of Philippine counterpart funding.

“Aside from being a zero-interest loan, KEXIM granted the Philippines a repayment period of 40 years, inclusive of a 10-year grace period,” the DoF noted. — Arjay L. Balinbin

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