| Written by Wilfredo Rodolfo III / Reporter |
| Thursday, 16 September 2010 15:02 |
| President Aquino visited Cebu on Wednesday, the first time since he took office, and with his economic team presented their plans to the business sector. Business-sector leaders presented their wish list during the interchange. Mr. Aquino lauded the strong public-private partnership in Central Visayas while reporting that investment confidence in the country was “very, very good.” He promised the rehabilitation of the Mactan Cebu International Airport as well as the establishment of a cold-chain logistics system spanning Mindanao, the Visayas and Luzon. “You are well poised to take advantage of the economic climate in the country,” the President said. “These linkages [public and private] can help us meet our mutual goals that will benefit the entire nation.” The business leaders presented him with seven requests, which they said would support the economic growth in the region: 1. Infrastructure projects worth P4.4 billion. 2. Priority for tourism and the value-chain network 3. Reduction of fuel and power costs 4. Expansion and modernization of the Mactan-Cebu airport 5. Mass transit system in Metro Cebu 6. Construction of the Panglao International Airport 7. Construction of a bridge connecting Cebu and Bohol In a press conference that followed, the President, gave promising remarks on the airport projects. But he said he would still have to look at the infrastructure wish list. “The Bohol-Cebu Bridge could be too ambitious,” he said. “The money may be there but we want to know if these are the projects that we really want.” The President’s economic team met with some 200 businessmen before the Chief Executive’s arrival, and presented their plans for the next six years. National Economic Development Authority Director-General Cayetano Paderanga said the administration was hoping a 5 percent to 6-percent GDP growth in 2010 and a 7 percent to 8-percent growth from 2011 to 2016. He also said the administration planned to roll out close to P740 billion worth of infrastructure projects in the medium term. The administration wants to add tourism to the three existing pillars of the Philippine economy at present—the OFW remittances, the semiconductor export industry and the BPO, Paderanga said. Finance Secretary Cesar Purisima said the administration is also determined to cut red tape and reduce, if not stamp out, corruption, while improving the country’s tax-collection efficiency to the regional standard of 17 percent from 13 percent. Trade Secretary Gregory Domingo said he planned to roll out the online-based Philippine Business Registry system in the next three months to expedite and streamline business registration in the country. Energy Secretary Jose Rene Almendras said his department would focus on building additional supply while working on energy efficiency in the country. The President later met close to 5,000 campaign volunteers as well and recipients of government poverty alleviation programs. |
Saturday, September 18, 2010
Aquino tells Cebuanos: Investment confidence in RP ‘very, very good’
Government identifies 6 potential ‘sunshine industries’ for Mindanao
| Written by Cai U. Ordinario / Reporter |
| Monday, 13 September 2010 12:32 |
| THE government has identified six potential “sunshine industries” in Mindanao that could help the region industrialize and lift millions out of poverty, the National Economic and Development Authority (Neda) said. In a statement, the agency identified these as agro-industry, halal, eco-tourism, renewable-energy, mineral resources, and information and communication technologies. The development of these industries is incorporated in the region’s Long-Term Mindanao Development Plan, which will provide a blueprint for spurring economic growth in the region for the next 10 years, the Neda said. Socioeconomic Planning Secretary and Neda Director General Cayetano W. Paderanga Jr. has already endorsed the framework to Malacañang. “The Mindanao Strategic Development Framework outlines the directions and strategies that maximize the resources and potentials of the region for 2010 to 2020,” the agency said. “The framework pushes for the development of sustainable resource-based industrialization, improvement of employment generation, and establishment of efficient logistics support,” it said. The framework stresses the need to have effective peace-building strategies and strong governance and partnership with the private sector. It will also involve multilevel participation of different stakeholders for an inclusive peace process, which is one of the priority concerns of the new administration. The Neda said it envisions Mindanao to be strong, sustainable, competitive and a resource-based economy that will be responsive to local and global opportunities by 2020 even as it recognizes the challenges on poverty, conflict, economic and physical linkages, and governance. The Mindanao Neda Regional Offices and the ARMM-Regional Planning and Development Office led the creation of the framework. It was endorsed by all the Regional Development Councils of Mindanao and the Regional Economic Development and Planning Board of the ARMM. |
Aquino tells Cebuanos: Investment confidence in RP ‘very, very good’
| Written by Wilfredo Rodolfo III / Reporter |
| Thursday, 16 September 2010 15:02 |
| President Aquino visited Cebu on Wednesday, the first time since he took office, and with his economic team presented their plans to the business sector. Business-sector leaders presented their wish list during the interchange. Mr. Aquino lauded the strong public-private partnership in Central Visayas while reporting that investment confidence in the country was “very, very good.” He promised the rehabilitation of the Mactan Cebu International Airport as well as the establishment of a cold-chain logistics system spanning Mindanao, the Visayas and Luzon. “You are well poised to take advantage of the economic climate in the country,” the President said. “These linkages [public and private] can help us meet our mutual goals that will benefit the entire nation.” The business leaders presented him with seven requests, which they said would support the economic growth in the region: 1. Infrastructure projects worth P4.4 billion. 2. Priority for tourism and the value-chain network 3. Reduction of fuel and power costs 4. Expansion and modernization of the Mactan-Cebu airport 5. Mass transit system in Metro Cebu 6. Construction of the Panglao International Airport 7. Construction of a bridge connecting Cebu and Bohol In a press conference that followed, the President, gave promising remarks on the airport projects. But he said he would still have to look at the infrastructure wish list. “The Bohol-Cebu Bridge could be too ambitious,” he said. “The money may be there but we want to know if these are the projects that we really want.” The President’s economic team met with some 200 businessmen before the Chief Executive’s arrival, and presented their plans for the next six years. National Economic Development Authority Director-General Cayetano Paderanga said the administration was hoping a 5 percent to 6-percent GDP growth in 2010 and a 7 percent to 8-percent growth from 2011 to 2016. He also said the administration planned to roll out close to P740 billion worth of infrastructure projects in the medium term. The administration wants to add tourism to the three existing pillars of the Philippine economy at present—the OFW remittances, the semiconductor export industry and the BPO, Paderanga said. Finance Secretary Cesar Purisima said the administration is also determined to cut red tape and reduce, if not stamp out, corruption, while improving the country’s tax-collection efficiency to the regional standard of 17 percent from 13 percent. Trade Secretary Gregory Domingo said he planned to roll out the online-based Philippine Business Registry system in the next three months to expedite and streamline business registration in the country. Energy Secretary Jose Rene Almendras said his department would focus on building additional supply while working on energy efficiency in the country. The President later met close to 5,000 campaign volunteers as well and recipients of government poverty alleviation programs. |
RP fast becoming a mining haven; P620-B investments seen
| Written by Jonathan Mayuga / Correspondent |
| Wednesday, 15 September 2010 12:24 |
| THE Philippines is fast-becoming a “mining haven” with $14 billion (P619.64 billion) in projected investments from 2009 to 2015 and $11.1 billion (P491.29 billion) in annual revenues starting 2017, according to Sergio R. Ortiz-Luis Jr., president of the Philippine Exporters Federation (PEF). He revealed this in his keynote speech at the Mining Philippines 2010 Conference and Exhibit at the Manila Hotel on Wednesday. Around 250 government and mining executives attended the conference. The Philippines ranks No. 4 in gold, No. 6 in copper, and No. 7 in nickel in the world “with these minerals valued at a hefty $840 billion,” he said, and buoying the industry now are soaring ore prices, cheap capital, and a more investor-friendly regime under the new administration. He said the Bicol and Caraga regions, where such minerals are heavily concentrated, stand to benefit, especially with metals-hungry China positioning itself to be a major buyer and investment partner. But Ortiz-Luis cautioned against committing the same mistakes that the country did with foreign partners in logging ventures in the past. “Our sights should go beyond near-term goals but, more important, ensure that our natural resources are sustainably explored and processed for future generations to also benefit,” he said. “There are other recurring issues that provide undue harassment and delays in conducting responsibly profitable mining in the country for its thousands of stakeholders such as unstable and unpredictable policies, tedious permitting procedures, environment concerns, increasing cost of doing business, and labor productivity,” he said. The PEF official also noted: “Growth has been painfully slow because the country has so far failed to build a strong industrial base. We cannot even claim yet that ours is now an industrializing economy. If we look at the numbers, we will find that our biggest sector is now services, second is agriculture. Manufacturing and Industry is the poor third in terms of its share in the number of people if employs and its share on the total value of goods and services every year.” A 2005 study commissioned by the Asean Secretariat, he said, confirms China’s continued economic growth would be one of the key drivers of world metals consumption in the coming years, with the Philippines being eyed as a major supplier of such. He said in the medium term, China’s consumption of all mineral commodities is expected to grow well above the average world growth rates with the study expecting annual growth of more than 10 percent in China’s consumption of nickel, tin and zinc, and aluminum and copper forecast to grow by 9 percent up to this year also in China. “The strong demand for minerals in China can be expected to provide significant opportunities for minerals producers worldwide,” he said and that “the Philippine investment climate is crucial in determining whether it can actually capitalize on such opportunities.” This is because the global market for minerals has become very competitive and the presence of mineral deposits in a particular country usually requires more than available investment funds to launch minerals projects. “We know that global development and investment funds are drying up and so this is one other issue that needs to be addressed.” He said the Export Development Council’s fearless forecast is that the world mining industry would pull off a 20-percent growth for the whole of 2010. “If we do our homework, we may drive exports to levels approximating those in 2007 by the end of the year.” |
Saturday, September 4, 2010
Realtors soon required to complete degree
THOSE who want a career in real estate have four years to apply for a license before they are required to present a diploma on a four-year college course on real estate.
After the Real Estate Service Act (Resa) or Republic Act 9646 was passed into law last year, all real estate brokers, assessors, appraisers and other real estate practitioners except for real estate salespersons had to apply for a license with the Professional Regulatory Commission.
And with the implementing rules and regulations of the law already in place, the first graduates of a bachelor’s degree on real estate management are expected to finish their course by 2016, said Cebu Realtor’s Board (Cereb) president Emily Cabillada.
Cabillada said that once the first graduates finish their course by school year 2016, they will be the only ones who can take the licensure examination.
Cereb, which celebrated its 50th anniversary with the opening of a real estate expo yesterday, said their aim is to make the public aware of the professionalization of the real estate service.
Not just sideline
“This is a very viable profession. This is not just a sideline anymore,” she said in a press conference.
She added that a career in real estate can bring “very good opportunities.”
Cereb has almost 300 members. Cabillada said they have seen an increase of 40 percent in membership while more licensed brokers are seen in the country.
After the implementing rules and regulations for the law have been finalized, Cereb believes the creation of a four-year college course is not far away.
Cereb past president Daisy Kokseng said there are current discussions with the Commission on Higher Education to finalize a curriculum for the course.
For now, those who want to take the exam should be bachelor’s degree holders who have had 120 hours in a seminar by an accredited service provider.
Cabillada hopes the public will be made aware of the professionalization of the real estate service, saying buyers can be assured that they are dealing with licensed practitioners who incorporate ethics in their work.
Misused
She also pointed out that many people are misusing the word “realtor”, saying the term is a registered trademark of the National Association of Realtors USA.
She said not all real estate brokers can be called realtors because the term is reserved for members of the NAR and its affiliates, including Cereb and its national organization, Philippine Association of Realtors Board.
Real estate in Cebu strong: Pareb
CEBU’s strategic location as the central business district in the Visayas has helped real estate developments in the city prosper, officials of the Philippine Association of Realtors Board Inc. - Cebu Realtors Board Inc. (Pareb-Cereb) said yesterday.
Pareb chairman Tomasito Academia said the city’s strong tourism industry and the increased purchasing power of consumers have also helped spur developments, which now span the north and south areas of the province.
“One good thing about Cebu is that it is the center of activities. Its geographical location has attracted foreigners to come and stay here. You can take a tour all around and you will see buildings sprouting. This is an indication that Cebu is continuously growing,” Academia said in a press conference shortly after the opening of the 2nd Cebu Real Estate Expo 2010 at the SM City Cebu.
Preferred location
He said that although there are many developments going on in the north of Luzon, Cebu is still one of the preferred locations in the country because of its tourism and its accessibility to the business district.
He said that people who live in far rural areas need only to take a 20-minute ride to the city as compared with areas in Luzon where people need to travel for two to three hours.
Former Pareb and Cereb president Daisy Kokseng also said that the city’s strong export industry and its medical tourism helped in the uptake of real estate development.
Kokseng cited the local furniture industry, which earned for Cebu the reputation as the “Milan of Asia” or the undisputed furniture capital of the region. Its strong medical tourism industry as well as the presence of direct flights from neighboring islands also helped attract more tourists and investors to Cebu.
With the growth of the real estate industry in the province, Pareb-Cereb president Emily Cabillada said people will see more developments in the city following the paving of roads in the North and the South Road Properties.
Vertical development such as office buildings and condominiums are still in demand for investors while horizontal developments such as subdivisions will continue to grow with the huge housing backlog.
The housing backlog was estimated by the Subdivision and Housing Developers Association 7 at 50,000 units.
Growth
Cabillada said the real estate industry may grow by an average of 15 percent this year, buoyed by the strong inflows of remittances sent home by overseas Filipino workers and the continued emergence of business process outsourcing in the city.
She also said that the growth is also seen with the increase of the number of real estate practitioners. The group now has 300 members locally.
To further entice developers, Academia said Cebu should market itself more to stay ahead of the competition, while Kokseng said that red tape in the local government units should also be lessened as it hampers investors from coming in.
The 2nd Cebu Real Estate Expo 2010 opened yesterday and will run until Sept. 7. About 22 companies involved in mixed development, home furnishings, realty and construction are joining the exhibit. The expo aims to showcase real estate developments in Cebu as a good value for investment.
Boom in RP ‘to continue for years’
UNLIKE other countries in the Asian region, the country’s private sector is “booming” and may continue to do so for the next few years, those in the construction industry said.
Philippine Constructors Association president Levy Espiritu said their organization is advocating for more private-public partnerships to continue this development, specifically on infrastructure projects.
“We are only lagging behind in infrastructure,” Espiritu said during the launching of the Philconstruct show yesterday.
He said the multi-national donors all want to come in but only if the private sector is in partnership with the government.
He said this can be done through solicited proposals, saying it is this way that donors can be assured that a project is open, competitive and transparent.
Espiritu said this was why the PCA is advocating for more private-public partnerships, adding that if these partnerships push through, the “boom” will continue for another four to six years.
PCA past president Emilio Tumbocan said the general outlook for the country is that there will be four to six percent growth in the GDP for the next few years while interest rates will remain stable.
He added that the government deficit is going down while remittances from Overseas Filipino Workers (OFW) continue to go up despite the global recession. He pointed out that 25 percent of OFW remittances are spent on housing.
Other good news for them is that the business process outsourcing will continue to grow “by leaps and bounds” and that the new administration is committed to an environment of transparency.
Tumbocan, however, pointed out that the country’s infrastructure is 20 to 25 years behind.
“We face a problem in delivery and execution of what is required of this country to move forward,” Tumbocan said.
PCA executive director Manolito Madrasto, meanwhile, said an indication of growth is that construction firms are beginning to have a hard time sourcing materials such as cement and steel.
He is convinced that the economy is moving because of real estate development.
“Investments are coming. That’s why we have to make sure we can deliver so they can keep on coming and we can keep on expanding,” Madrasto said.
He added that even Japanese firms are bringing in their money to the Philippines because interest rates in their country are “negative.”
“Let us take advantage of his unique situation,” Madrasto said.