Maniolas

Philippine President Rodrigo Duterte, left, listens to Russian President Vladimir Putin during their meeting at the Asia-Pacific Economic Cooperation (APEC) forum in Lima, Peru, Saturday, Nov. 19, 2016. Mikhail Klimentyev, Sputnik, Kremlin Pool Photo via AP LIMA, Peru — Russia is expected to hike significantly the value of goods it would import from the Philippines and to cooperate with the Philippine government in tourism, infrastructure, energy and agriculture, a Cabinet official said Monday. Trade Secretary Ramon Lopez said Russia has committed to increase the value of its imports from the Philippines to $2.5 billion (about P124.17 billion) from about $46 million (about P2.28 billion) for a year.  “They are saying immediately… they can easily bring up the imports from the Philippines to the tune of about $2.5 billion,” Lopez told reporters in a press briefing here.   Lopez said Russia imports agricultural products and beer from the Philippines.  “I think on fruits and other products, they (Russia) can easily bring up (the volume),” the trade chief said.   “We can only look up, I mean, nowhere to go but up because it’s really a relationship that offers a lot of opportunities because before, almost nothing happened when it comes to trade and investment with Russia,” he added.  Total trade between the Philippines and Russia amounted to $422 million last year. President Rodrigo Duterte and Russian President Vladimir Putin met here Sunday (Manila time) to discuss ways to boost the ties between Manila and Moscow.  The meeting was an opportunity for Duterte to Read More …

Energy Regulatory Commission Jose Vicente Salazar is waiting for President Rodrigo Duterte to return from Peru to seek out a meeting with him. ERC/Released MANILA, Philippines — Energy Regulatory Commission (ERC) Chairman and CEO Jose Vicente Salazar will seek a meeting with President Rodrigo Duterte following the latter’s demand for all ERC officials to step down from office. The president warned that he will ask Congress to abolish the ERC, which was created by the Electric Power Industry Reform Act of 2001, if its officials refuse to resign following the suicide of one of their colleagues. READ: Duterte demands resignation of ERC execs Last week, ERC bids and awards chairman Francisco Jose Villa Jr. took his own life after being allegedly pressured by Salazar into rigging bids. Salazar said that he is waiting for Duterte’s return from Peru to meet with him and update him on the current developments at the ERC. “I am confident that the proposed meeting with and briefing for the president would result in clearer directions from him regarding the issues facing the ERC,” Salazar said in a statement. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The ERC chairman also assured Duterte that he respects his recent statement and vowed to take appropriate actions to protect the organization. “Part of this is our request to the Commission on Audit to immediately probe the allegations made by the late Director Jun Villa and our expression of support and full cooperation for the planned inquiry by the Senate Read More …

THE Mines and Geosciences Bureau (MGB) forecasts metal output this year to decline from 2015 levels due to the unfavorable price environment and the government’s environmental audit that threatens to suspend several miners.

MANILA, Philippines – The Department of Tourism (DOT) is targeting to increase tourist arrivals in Mindanao by as much as 20 percent in 2017, following the drafting of a tourism and infrastructure masterplan in the region. Eden David, head of DOT’s Mindanao office, said the agency was aiming to accelerate the growth of arrivals in all five regions in Southern Philippines provided that Mindanao would be able to effectively roll out its infrastructure projects. In 2015, David said Region 9 reported a total of 800,000 arrivals; Region 10 welcomed 2.7 million visitors; Region 11, or the Davao Region recorded 2.8 million; Region 12 booked close to one million; and Region 13 registered 1.2 million. These brought the total arrivals in the whole Mindanao Region to approximately 8.5 million last year. “There’s really an increase in number of tourists in Mindanao and the target that has been set is to really increase it by 10 to 20 percent, but that would actually depend upon the logistics support when it comes to infrastructure,” David said. David said the DOT, together with the Mindanao Development Authority (MINDA) was already formulating a Mindanao Logistics Plan, which would set up an effective system to support infrastructure development in the region.

MANILA, Philippines – The Board of Investments (BOI) expects its approved investment pledges to swell next year on the entry of more Chinese investors to the country. BOI managing head Ceferino Rodolfo said the influx of new Chinese investors could be felt starting next year as a result of the current administration’s push for stronger economic ties with China. “They (investments from China) are about to come beginning next year. And once they arrived, our approved investments could further improve,” Rodolfo said. As of the nine months ending September 2016, the BOI has approved investments worth P286.44 billion, up 49 percent from P192.39 billion in the same period last year. Of these investment pledges, only a small portion is from Chinese investors, while the bigger part comes from Singapore, Netherlands, and Japan. The BOI said it is expecting to approve about 44 more projects in the coming months. These projects are worth P52.03 billion. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Rodolfo, however, said the expected deluge of Chinese investments to the country is still not part of this incoming P52.03 billion worth of new projects. For this year, the BOI is targeting to grow its investment approvals by 10 percent from the P366.74 billion recorded in 2015. With the country’s improving relationship with China, the Department of Trade and Industry and its counterpart in China are currently in talks for the creation of an industrial economic zone in the country that would be developed and financed mostly Read More …