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INVESTMENT CLIMATE IMPROVEMENT PROJECT NEWSCLIPS
Economic Reform News from the Philippines and Elsewhere
June 2, 2011
Philippines
Invest in ‘7 winners’
Sun Star, May 27, 2011
Katlene O. Cacho
THE Joint Foreign Chambers of the Philippines
(JFCP) yesterday introduced to the Cebu
business community “Arangkada Philippines
2010: A Business Perspective,” a compilation of
suggestions to grow the economy.
Planners complete development blueprint
Business World, May 30, 2011
Diane Claire J. Jiao
THE GENERAL economic blueprint for the
Aquino administration’s term has been
completed, with planners keeping previously
announced targets such as this year’s gross
domestic product growth (GDP) goal of 7-8%.
Slower growth to continue
Business Mirror, May 31, 2011
Cai U. Ordinario
The country’s economic slowdown will likely
continue in the next few quarters, thus making
the 7-percent to 8-percent growth target of the
government impossible to achieve, economists
said on Monday.
Garments
Business World, May 30, 2011
6 US companies investing $100M in BPO,
generating 10,000 jobs
The Manila Bulletin, May 31, 2011
Bernie Cahiles-Magkilat
Six American firms with combined estimated
investments of $100 million are outsourcing their
non-voice services to the Philippines and are
expected to create 10,000 jobs, Board of
Investments managing head Cristino L. Panlilio
said.
Telecos invest P75M in tourism
Business Mirror, May 31, 2011
Ma. Stella F. Arnaldo
SMART Communications Inc., and Globe
Telecom Inc. are investing a total P75 million
this year to support the various marketing
campaigns of the Department of Tourism (DOT)
to boost domestic travel and foreign tourist
arrivals.
Philippine economy post a modest 4.9 percent
GDP growth
NSCB Press Release, May 30, 2011
Romulo A. Virola
Underspending by the government and the
slowdown in global trade constricted the
economy to a lower growth in the now 2000based GDP of 4.9 percent in the first quarter
from the election stimulated 8.4 percent last year.
Rene Ofreneo
Should the US Congress by some miracle
approve the SOI (Save Our Industries) bill, there
is no assurance that the Philippine garments
industry will indeed soar again.
Govt assures funding for garments lobbying
Business Mirror, May 27-28, 2011
Max V. De Leon
The government and the garments industry have
given assurances of continuous funding for those
pushing for passage of the proposed Save Our
Industries (SAVE) Act in the US legislature,
believing it has better chances now with the
composition of the 112th United States Congress
giving more priority to trade packages.
After Malta vote, House body tackles divorce
bill
Philippine Daily Inquirer, May 31, 2011
AFP, Cynthia D. Balana, Gil C. Cabacungan Jr.,
Christian V. Esguerra and Jocelyn R. Uy
Overwhelmingly Roman Catholic Malta has
voted to legalize divorce, Prime Minister
Lawrence Gonzi announced on Sunday after a
referendum, leaving the Philippines as the only
country where it is banned.
House panel okays anti-cybercrime bill
The Phippine Star, May 31, 2011
Paolo Romero
The House committee on communications and
information technology has approved an anticybercrime bill, which aims to protect
individuals and institutions from cyber attacks.
Pagbilao accepts P278-million payment
The Manila Bulletin, May 31, 2011
Myrna M. Velasco
After brooding over it for almost three months,
the municipality of Pagbilao has finally accepted
the P278 million real property tax (RPT) backpayments for the 735-megawatt coal-fired power
facility that it has been hosting in its community,
an amount which is way lower than its earlier
assessment of P6.1 billion.
Creating needed jobs
Philippine Daily Inquirer, May 31, 2011
Cielito F. Habito
In a recent article in Time Magazine, Fareed
Zakaria offers five strategies to bring
unemployment down in the United States.
Rural banking, liberalization sought
Philippine Daily Inquirer, May 31, 2011
Michelle V. Remo
The rural banking sector has reiterated its call for
the approval of a proposed measure that will
allow its members to take in foreign investments.
Tribes ask SC to stop Surigao mining
Philippine Daily Inquirer, May 31, 2011
Marlon Ramos
A COALITION of tribal groups in Surigao
provinces yesterday petitioned the Supreme
Court to stop the operations of five Chinese
mining companies whose open-pit nickel mining
activities have allegedly polluted bodies of water,
destroyed rich marine resources and caused
illnesses to residents in the area.
Senate to start plenary debates on RH bill
next week
The Phippine Star, May 31, 2011
Marvin Sy
To mine or not to mine
The Philippine Star, May 31, 2011
Domini M. Torevillas
The Senate is expected to start plenary debates
on the controversial Reproductive Health (RH)
bill next week.
Did you know that our country is endowed with
vast and rich metallic and non-metallic mineral
resources such as gold, silver, copper, nickel,
coal, limestone, bentonite, silica, etc.?
Nightwork ban on women lifted
Aquino: Paje, Robredo to get permanent
Business Mirror, May 31, 2011
Bernadette Tamayo
SENATORS yesterday approved three
measures, including Senate Bill 2701 lifting
the night work ban on women and SB 2748
hastening the release of retirement pay of
government workers
P-Noy lets go of Diokno
Philippine Daily Inquirer, May 31, 2011
Christine O. Avendaño and Marlon Ramos
Twelve days after a television camera caught a
high-profile convicted killer moving around in
the Makati City business district, President
Benigno Aquino III on Monday announced the
resignation of his longtime friend, Bureau of
Corrections (BuCor) chief Ernesto Diokno,
praising him for heeding his conscience.
cabinet appointments
Philippine Daily Inquirer, May 27, 2011
Marlon Ramos
President Aquino confirmed reports Thursday he
already has approved the permanent appointment
of Environment Secretary Ramon Paje and
Interior Secretary Jesse Robredo.
Better education leads more jobs, says exec
Philippine Daily Inquirer, May 30, 2011
Better education can provide more job
opportunities for Filipinos and reduce the
poverty rate in the country.
Global/Regional
EDITORIAL – First step
The Phippine Star, May 31, 2011
With new techniques, scientists open lid on
seafood fraud
International Herald Tribune, May 28-29, 2011
Elisabeth Rosenthal
At least this one didn’t hang on to his post.
Ernesto Diokno resigned yesterday as director of
the Bureau of Corrections as the Department of
Justice found him administratively liable for VIP
treatment enjoyed by convicted murderer Jose
Antonio Leviste.
Scientists aiming their gene sequencers at
commercial seafood are discovering rampant
labeling fraud in supermarket coolers and
restaurant tables: Cheap fish is often substituted
for expensive fillets, and overfished species are
passed off as fish whose numbers are plentiful.
China’s Latin American harvest raising fears
of newcolonialism
International Herald Tribune, May 28-29, 2011
Alexei Barrionuevo
When the Chinese came looking for more
soybeans here last year, they inquired about
buying land — lots of it.
Andal Sr. pleads innocent to massacre charge
The Philippine Star, June 1, 2011
Dennis Carcamo
Former Maguindanao Andal Ampatuan Sr., the
head of a powerful political clan in the south,
today pleaded not guilty to 57 murder charges
filed against him for his alleged involvement in
the gruesome Maguindanao massacre in
November 2009.
How to tell the world that Indonesia is Ready,
Willing and Open for Business
Jakarta Globe, May 25, 2011
Ashish Mishra
When prominent government officials say in
London that Indonesia needs to send out a strong
promotional message reminding the world that
the country is open and ready for investment, you
know there is a case to be made back in Jakarta.
-------------------------------------------------------------For inquiries regarding ICIP, please contact:
Investment Climate Improvement Project
The American Chamber of Commerce of the Philippines, Inc.
7th Floor, Corinthian Plaza Bldg., Paseo de Roxas, Makati City
Tel.: (632) 751-1495; 818-7911 to 13 / Fax: (632) 751-1496; 811-3081
Email: icip@amchamphilippines.com
Website: www.amchamphilippines.com