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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: [email protected] Website: www.amchamphilippines.com