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Philippines bags $1.53B worth of investments in Australia
President Ferdinand Marcos Jr. has secured deals worth $1.53 billion or P86 billion in investments during the Philippine Business Forum at the ASEAN-Australia Special Summit in Melbourne, according to the Presidential Communications Office......»»
‘Why we need to amend the restrictive economic provisions’ (Continued from last week)
Of the original five members of ASEAN – Indonesia, Malaysia, Philippines, Singapore and Thailand – we are unique in that some important economic sectors are singled out for specific protection under the Constitution, the fundamental law. All the other countries simply left all matters pertaining to economy and business to ordinary legislation......»»
Thailand joins ASEAN agriculture-MSME development plan
The ASEAN Business Advisory Council Thailand has become the latest to sign to the region-wide private sector-led agriculture-MSME Development plan initiated in the Philippines......»»
Blueprint for a sustainable tomorrow
Through a combination of cutting-edge technology, data science and a culture of innovation, Aboitiz Land is making innovative strides in the real estate industry, establishing benchmarks for sustainability and community development. This commitment to adaptability and progress was underscored by Aboitiz Land CEO and president David Rafael during his presentation at the CEO Forum of the CREBA Golden Jubilee National Convention & Housing Expo on 28 September 2023, held at Conrad Manila. Aboitiz Land's dedication to environmental sustainability is evident in every facet of its residential real estate developments. The company's sustainable master plan features prioritize harmony with nature, respecting the natural topography of the land and integrating existing water and landforms like lagoons and hilly terrain seamlessly. This human-centric approach extends to the promotion of green open spaces across high-end and mid-market projects, fostering a connection between residents and the environment. A pinnacle of this commitment is its residential enclave, The Villages at Lipa, within the 800-hectare integrated LIMA Estate. LIMA Estate proudly holds a five-star BERDE certification, a testament to its eco-friendly practices including energy and water efficiency, waste management and community well-being. Poised to become a blueprint for smart cities, it leverages digital technologies for enhanced urban operations. Aboitiz Land also embraces innovation in construction technology, utilizing precast concrete panels to reduce greenhouse emissions associated with traditional concrete production. This approach not only contributes to a significant reduction in environmental impact but also translates into tangible benefits for homeowners, including reduced energy consumption. Aboitiz Land understands the urgent demand for accessible and quality housing in the Philippines. The company addresses this by strategically placing its projects near emerging growth centers and infrastructure. This not only eases congestion in central business districts but also creates job opportunities for thousands of Filipinos. Aboitiz Land’s notable developments include The Villages at Lipa in LIMA Estate, Foressa Mountain Town in the West Cebu Estate and Ajoya communities in key areas of Central Luzon, which is at the heart of the current infrastructure development and growth centers. To help address the critical issue of 6.5 million housing backlog and rising property costs, Aboitiz Land has introduced OneVecino, an innovative digital platform. This tool provides digitized solutions for property search, payments, customer support and property management. It's tailored to cater to the needs of overseas Filipino workers, making home buying more accessible and secure. Aboitiz Land's commitment to community well-being is likewise demonstrated through various CSR initiatives. Elevate AIDA, in partnership with Connected Women, provides digital skills training to women near our communities in Luzon, advances gender parity and promotes socio-economic development. Meanwhile, Project Banca, recognized as an Outstanding CSR Project in Disaster Resilience, supported 60 fisherfolks with motorized fishing boats in areas affected by typhoon “Odette,” showcasing Aboitiz Land's dedication to community well-being and resilience. Aboitiz Land's corporate governance framework is rooted in core values of Integrity, Teamwork, Innovation and Responsibility. The developer is the real estate arm of the Aboitiz Group, which has consistently been acknowledged as one of the best managed conglomerates in the ASEAN region, exemplified by the Golden Arrow Recognition awarded to Aboitiz Equity Ventures. The post Blueprint for a sustainable tomorrow appeared first on Daily Tribune......»»
Phl, Saudi funds in earnest talks
As Gulf nations expressed interest in investing in the Maharlika Investment Fund, or MIF, the Philippine government began in-depth negotiations with the Public Investment Fund, Saudi Arabia’s sovereign wealth fund. In a roundtable interview with the reporters on Saturday morning (Manila time), President Ferdinand Marcos Jr. said the discussions on the MIF “proceeded very quickly” after he met with Saudi Arabian officials and business leaders. “I am very encouraged and quite happy by the fact that the reaction that we got from our partners in Saudi Arabia and in other countries have been very encouraging, and they really want to have the opportunity to help and participate in our investment fund because we’ve shown that this is a truly good investment for them,” Marcos said. The President said the concept of a sovereign wealth fund for the Philippines is becoming “more and more attractive” as the government talks to more prospective partners. He expressed confidence the fund will be operationalized soon, once the government starts talks in detail with other investment funds, governments, and private corporations. “That is precisely the role that we have envisioned for the sovereign fund, the Maharlika Fund, and that is the direction that it has taken, and again, our partners have become, have been very, very encouraging in their reaction to what we presented to them,” Marcos said. Enacted in July this year, the Maharlika Investment Fund was established to use government assets for investments to enhance public finances. Before heading to the ASEAN-GCC Summit in Saudi Arabia, Marcos suspended the implementing rules and regulations of the MIF in order, he said, to study it some more. Government technocrats said it was to make it more transparent. Meanwhile, the Bureau of the Treasury and the Department of Finance on Saturday confirmed Saudi Arabia’s interest in the MIF. “In general, we received a lot of good feedback from our counterparts during that visit,” said BTr officer-in-charge Sharon Almanza in a forum last Saturday. Finance Undersecretary Zeno Abenoja said the Saudi Arabian firms’ interest in the MIF reflected the same enthusiasm exhibited by Dubai and Qatar over the fund. “The business communities both in this recent visit and the previous ones expressed their huge interest in the Maharlika Fund during their discussions with the Philippine economic team,” he said. Abenoja said investors’ contributions to the fund from the private and overseas sectors could not yet be specified in numerical figures. “Right now, it’s difficult to have a good estimate because we’re just starting to promote the fund. But strategic partners could be domestic investors and foreign investors,” Abenoja said. He explained that the proceeds from the sovereign fund will be used to augment government funds for high-impact projects, especially infrastructure projects. “It’s the additionality aside from the government resources being used to finance, for example, the 197 infrastructure flagship projects worth more than P8 trillion,” Abenoja said. The post Phl, Saudi funds in earnest talks appeared first on Daily Tribune......»»
Phl govt in talks with Saudi’s Public Investment Fund
The Philippine government has already started detailed talks with the Public Investment Fund (PIF), Saudi Arabia's sovereign wealth fund, as the Gulf countries want to invest in the Maharlika Investment Fund (MIF). In a roundtable interview with the reporters on Saturday morning (Manila time), President Ferdinand Marcos Jr. said that the discussions on the MIF have "proceeded very quickly" after he pitched the sovereign wealth fund to Saudi Arabian officials and business leaders during his recent visit to the Kingdom. Marcos also said other Gulf countries have expressed interest in the Maharlika Investment Fund. He added that the reaction to the fund from Saudi Arabia and other countries has been "very encouraging." "We introduced to them the Maharlika Investment Fund, which has proceeded very quickly and we have gone into, we have already started, we detailed talks with their PIF, which is the equivalent here in Saudi Arabia. It is their investment fund and how we can do it, how we can work together," Marcos said. "I am very encouraged and quite happy by the fact that the reaction that we got from our partners in Saudi Arabia and in other countries has been very encouraging and they really want to have the opportunity to help and participate in our investment because we've shown that this is a truly good investment for them," Marcos added. Marcos said that the concept of a sovereign wealth fund for the Philippines is becoming "more and more attractive" as the government talks to more prospective partners. He expressed confidence that the fund will be operationalized soon, once the government is able to start talking in detail with not only investment funds but also private corporations and other governments. "That is precisely the role that we have envisioned for the sovereign fund, the Maharlika Fund and that is the direction that it has taken, and again our partners have become --- have been very, very encouraging in their reaction to what have presented to them," Marcos said. Enacted in July this year, the Maharlika Investment Fund was established with the goal of using government assets for investments to enhance public finances. Before heading to the ASEAN-GCC Summit in Saudi Arabia, he reassured their commitment to making it operational by the end of the year. The post Phl govt in talks with Saudi’s Public Investment Fund appeared first on Daily Tribune......»»
Invest in MIF, PBBM urges Saudi bizmen
RIYADH, Saudi Arabia — President Ferdinand Marcos Jr. and his economic managers portrayed a healthy and robust Philippine economy as he encouraged Saudi Arabian businessmen to participate in the nation’s recently established sovereign wealth fund, Malacañang said on Friday. In a statement, the Palace said Marcos pitched the Maharlika Investment Fund to Saudi business executives, hoping to gain from their investments and wealth of financial management know-how. “At the forefront of these opportunities is the recently launched Maharlika Investment Fund, the Philippines’ first-ever sovereign investment fund designed to drive long-term economic development through increased investments in high-impact sectors,” Marcos said. “We look forward to benefiting not just from Saudi investments but also from the Kingdom’s extensive experience in managing such funds,” he added. In response, Saudi Ministry of Investment Minister Khalid Al-Falih said Saudi investors are keen to learn from the Philippines’ financial sector. Al-Falih said the MIF was of particular relevance to the Saudi business community. “We want to connect you to key Saudi investors with impressive success stories to share and with the desire to continue building our international presence by investing with partners across the globe, the Philippines being a key one,” Al-Falih said. He added: I am pleased that we are joined today by leaders of the sector from Saudi Arabia who are eager to learn more about one of ASEAN’s most exciting markets and about the Maharlika Investment Fund that you have launched under your administration.” The Saudi government, he said, may provide information about their “extremely successful banking sector.” He applauded the Philippine government’s efforts to have a cashless society, one that uses mobile money as well, by 2030. The post Invest in MIF, PBBM urges Saudi bizmen appeared first on Daily Tribune......»»
Shun mass protests in Egypt
Filipinos in Egypt have been advised to avoid joining any protests following the mass demonstrations, denouncing the bombing of a hospital in the Gaza Strip that reportedly killed at least 500 civilians. In an advisory, the Philippine Embassy in Egypt cautioned Filipinos against joining the random demonstrations and planned mass actions. “The Philippine Embassy in Cairo advises everyone to exercise caution, keep away from mass congregations, and stay home unless necessary,” it said. According to the Department of Foreign Affairs, there are 1,990 Filipinos in Egypt. Egyptians took to the streets to express their anger over the bombing of the Al-Ahli Baptist Hospital in Gaza, which left hundreds of Palestinians dead. In one of the demonstrations, a Palestinian flag was raised while an Israeli flag was burned. The demonstrations came after Egypt’s President Abdel-Fattah el-Sissi called on Egyptians to express solidarity with the Palestinians amid the Israel-Hamas war. This developed as top diplomats of the Association of Southeast Asian Nations on Friday denounced the ongoing war in the Middle East. End bloodshed In a statement, the foreign ministers of the 10-member regional bloc called for an immediate end to the bloodshed. “We strongly condemn the acts of violence which have led to the deaths and injuries of civilians, including ASEAN nationals,” the foreign ministers said. “We urge the immediate end of violence to avoid further human casualties and call for the full respect of international humanitarian law,” it added. Israel and the Palestinian militant group Hamas are engaged in armed conflict following the surprise attack launched by the terror group on Israel last 7 October. The attack by Hamas has left more than 1,400 dead, most of them massacred on the first day of the assault. Meanwhile, the widespread airstrikes on the Gaza Strip have reportedly left at least 3,478 dead. ASEAN also called on “all parties to create safe, rapid and unimpeded passages of human corridors.” Last week, Israel imposed a 24-hour deadline for 1.1 million civilians to evacuate northern Gaza ahead of its ground offensive in the Palestinian territory. Since then, millions of civilians, including foreign nationals, have scrambled to move from northern Gaza to southern Gaza in hopes of exiting the war-torn territory. The bulk of civilians are swarming to the Rafah border in an attempt to enter Egypt despite the border remaining closed and the restricted availability of food, water and electricity. Two-state solution Meanwhile, ASEAN reaffirmed its support for a “negotiated two-state solution that allows Israelis and Palestinians to live side-by-side in peace and security consistent with relevant United Nations Security Council resolutions.” “This will be the only viable path to resolving the root cause of the conflict,” it said. The regional bloc also called on the “international community to support the peace process in order to ensure long-lasting peace and stability in the region.” “We have issued our respective national statements on the escalation of armed conflicts in the Middle East,” it said. On Wednesday, the Philippines, one of the founding members of ASEAN, expressed its “profound sadness” over the bombing of a hospital in the Gaza Strip, which reportedly killed at least 500 civilians. Israel and Hamas denied being behind the attack and blamed each other for the bombing. The Philippines said all parties should “do their utmost to protect civilians in times of war and armed conflict.” “We support efforts of the United Nations to provide humanitarian relief in the conflict areas,” it said. According to the Department of Foreign Affairs, there are 135 Filipinos in the Hamas-controlled Gaza. Deep concern In Riyadh, Saudi Arabia, where President Ferdinand Marcos Jr. is attending the ASEAN-Gulf Cooperation Council Summit, the Chief Executive expressed deep concern over the rising number of victims and the safety of those affected by the conflict. In his intervention during the 1st ASEAN-GCC Summit here on Friday, Marcos said, “All parties (should) exert their utmost efforts to de-escalate the situation, stop all violence, and engage in dialogue and diplomacy.” He called on the members of the GCC and ASEAN to work together to promote peace, security, and stability in the South China Sea and the Arabian Sea. Marcos also underscored the importance of cooperation between member countries of the two regional groups to ensure their continued prosperity. “As the two regional organizations located astride the major sea gates and vital corridors of the world’s commerce and communications, it is imperative that we work together to promote peace, security, and stability in both our regions, the South China Sea and the Arabian Sea, grounded on the rules-based international order to ensure the stability and prosperity of our countries and the rest of the world,” Marcos said. “Peace and stability are indispensable to ensuring continued prosperity in our respective regions and the world,” he added. The six GCC member countries are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates, while the 10 ASEAN member countries are Brunei, Burma, Cambodia, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam. President Marcos attended the ASEAN-GCC Summit, where he discussed business opportunities in the Philippines and urged investors to invest in the Maharlika Investment Fund, among other significant opportunities in the Philippines. The post Shun mass protests in Egypt appeared first on Daily Tribune......»»
Entrepreneurship eyed in SHS curriculum
The possibility of including entrepreneurship as a subject in the current senior high school curriculum is underway, said Go Negosyo chairperson Joey Concepcion following a meeting with Vice President and Education Secretary Sara Duterte. Concepcion discussed with the Vice President several avenues in which entrepreneurship skills can be included in the school curriculum, among them through direct mentoring by veteran entrepreneurs, and another is through the help of private companies, specifically those engaged in the agriculture sector. “Our idea is if we open up this avenue to young people, there would be a way for them to find an alternative path to success,” Concepcion said. Under the current curriculum, Filipino children in public schools attend a minimum of 13 years under the K-12 program. An average of four more years would be added if the student decides to pursue higher education,” the Go Negosyo chairman said in a statement on Thursday. He added that not all families have the resources to support children through the completion of the entire curriculum, noting that “We could help these young people find their path, focus on it, and maybe one day the students can turn it into a business.” He said that there are many successful entrepreneurs who succeed even without the benefit of higher education. Concepcion noted that among the possible paths that were discussed in which entrepreneurship can be incorporated into the curriculum is through proven mentoring programs that are already being implemented by Go Negosyo. One of these is through roadshows in which a successful entrepreneur is sent to mentor the students at their respective schools; another way is for students to observe actual mentoring with active and aspiring entrepreneurs. Moreover, he said Go Negosyo has employed different methods of reaching out to potential entrepreneurs. It has conducted plenary events targeted toward women, the youth, OFWs, as well as thematic events that focus on introducing MSMEs to digital platforms and to opportunities offered by the tourism sector. During the pandemic, it ported its mentoring programs to social media and conferencing platforms, enabling it to continue mentoring entrepreneurs in the provinces and even across the ASEAN region. The post Entrepreneurship eyed in SHS curriculum appeared first on Daily Tribune......»»
Phl, Saudi agreements will benefit 15,000 Filipinos — Marcos
RIYADH, Saudi Arabia – President Ferdinand Marcos Jr. on Thursday said that several agreements worth more than $120 million between Saudi Arabia and the Philippines will benefit more than 15,000 Filipinos soon. During a roundtable meeting with Saudi business leaders here, Marcos said the agreements represent a significant step in strengthening the cooperation between the two countries. The agreements were signed during Marcos' first official visit to Saudi Arabia since assuming the Presidency in June 2022. The agreements cover a wide range of professions in the construction industry, including engineering, architecture, and healthcare. "This meeting happens at such an opportune time as the Philippine economy continues its high growth trajectory," the President said. "To our current and future business partners, I hope this meeting has served as an excellent platform for building greater and closer partnerships between the Philippines and the Kingdom of Saudi Arabia," he added. He then thanked to the Saudi Ministry of Investment and the Saudi business leaders for their support and confidence in the Philippines and the Filipino people. Marcos Jr. assured that the Philippine government is steadfast in its commitment to continuously supporting current and prospective Saudi investors. He also urged the Saudi business leaders present at the meeting to "further make it happen in the Philippines." Marcos also thanked the Saudi government for its support to the Philippines. He said the two countries have a long history of friendship and partnership, and he is confident that this relationship will continue to grow in the years to come. The signing of the agreements is part of the Philippine government's efforts to expand job opportunities for the Filipinos. The government has also been working to improve the working conditions of overseas Filipino workers (OFWs). In recent years, Saudi Arabia has become one of the most popular destinations for OFWs. There are currently over one million Filipinos living and working in the country. The President's visit to Saudi Arabia is part of his efforts to strengthen economic ties with the Gulf Cooperation Council (GCC) countries. The Philippines is a member of the ASEAN-GCC Summit, which the Kingdom is currently hosting. The post Phl, Saudi agreements will benefit 15,000 Filipinos — Marcos appeared first on Daily Tribune......»»
The Filipina entrepreneur and her place in the Asean
Last week, I had the pleasure of hosting two prominent women’s business organizations in the Philippines to formalize their collaboration in preparation for our hosting of the ASEAN Summit in 2026......»»
Filipina business organizations prepare for ASEAN 2026 representation
Two of the biggest women business organizations in the country have taken the first steps toward ensuring that the Filipina entrepreneurs’ sector in the Philippines is robustly represented within the Association of Southeast Asian Nations......»»
Tourism, agribusiness need prioritization — PCCI
The country’s biggest congregation of business owners in the country, the Philippine Chamber of Commerce and Industry, said the Marcos Jr. administration must focus on the industries of tourism and agribusiness as they provide opportunities to Filipinos. Apart from the two, PCCI president George Barcelon said other industries that need further push and support are IT-BPO and creative industries, manufacturing, mining, and mineral resources, considered to be ideal and attractive for local and foreign investments and could amplify the economic growth and competitiveness of the country. “Some of our neighboring countries in ASEAN have really moved fast over the past 10 years. We had been lagging them in terms of exports, investments, and trade and we could not afford to be in this situation, so we really need to review our policies for us to be attractive to local and foreign investors,” Barcelon said. He said this will be the center of discussions at the upcoming 49th Philippine Business Conference & Expo set this month, which will gather industry leaders and practitioners to provide insights and share some prospects in what an interesting discussion on policies and regulations could be to attract investors and stimulate investments in these sectors. He said tourism and agribusiness are low-hanging fruits that the government should seriously prioritize and develop as it provides many opportunities for Filipinos. In 2022, the tourism and travel industry only contributed 6.2 percent to the country’s GDP lower than 12.7 percent in 2019 prior to the pandemic. The latest data from the Department of Tourism said that from 1 January to 29 September 2023, a total of 4,005,465 visitors arrived in the country, bringing in a total of P316 billion in revenue into the government coffers and hiring 5.35 million Filipinos in tourism-related jobs. The Philippine agribusiness, on the other hand, contributed only around 8.9 percent to GDP in 2022 where in fact its contribution could actually reach 35 percent. The mining and mineral sector, meanwhile, was able to boost the country’s growth by P102B in 2020 during the pandemic while the manufacturing sector contributed 17.2 percent in 2022. “As the private sector takes the lead in mapping out plans for Vision 2050, we hope our government will focus its attention on harnessing these sectors and address the challenges that hinder the country’s economic growth. We have the competitive advantage to become a first world economy by 2050, we just have to do extra work to achieve it,” said Architect Felino Palafox Jr., who chairs the 49th PBC&E happening on 25-26 October at The Manila Hotel. This year’s conference carries the theme Vision 2050: The Philippines A First-World Economy. It will initiate discussions and gather insights from visionary leaders and policymakers on how the country, given its strategic location, natural and human capital resources, and the many advantages it has, can become one of the industrialized and developed economies by 2050. The two-day event will interestingly gather prominent business personalities, national and local executives, and international leaders. The post Tourism, agribusiness need prioritization — PCCI appeared first on Daily Tribune......»»
Meralco receives 3 Golden Arrow awards for outstanding good governance
Recognizing its remarkable corporate governance practices, the Manila Electric Company has once again received a three-arrow recognition from the Institute of Corporate Directors during the Golden Arrow Awards held on 28 September. The prestigious accolade came as a result of Meralco’s outstanding performance in the 2022 ASEAN Corporate Governance Scorecard assessment, reflecting the company’s conformance with the Philippine Securities and Exchange Commission’s Code of Corporate Governance for Publicly-Listed Companies, as well as internationally recommended corporate governance practices as espoused by the ACGS. ACGS is an evaluation tool developed by the ASEAN Capital Markets Forum to assess the governance framework of publicly listed companies in the region. This assessment covers various aspects, including board responsibilities, shareholder rights, disclosure and transparency, and stakeholder management. This recognition serves as a testament to the company’s unwavering dedication to upholding the highest standards of corporate governance. By excelling in the ACGS assessment, Meralco has demonstrated its commitment to operating with integrity and safeguarding the interests of its shareholders and stakeholders. Through the award, Meralco highlights the importance of good corporate governance in today’s business environment. It serves as a reminder to all publicly listed companies that adherence to rigorous corporate governance standards is essential to ensure sustainable success and foster good relationships among investors, customers, and the community they serve. The post Meralco receives 3 Golden Arrow awards for outstanding good governance appeared first on Daily Tribune......»»
Meralco receives 3-Golden Arrow Award for Outstanding Corporate Governance
Recognizing its remarkable corporate governance practices, the Manila Electric Company (Meralco) has once again received a three-arrow recognition from the Institute of Corporate Directors (ICD) during the Golden Arrow Awards held on 28 September 2023. The prestigious accolade came as a result of Meralco’s outstanding performance in the 2022 ASEAN Corporate Governance Scorecard (ACGS) assessment, reflecting the company’s conformance with the Philippine Securities and Exchange Commission’s Code of Corporate Governance for Publicly-Listed Companies, as well as internationally recommended corporate governance practices as espoused by the ACGS. ACGS is an evaluation tool developed by the ASEAN Capital Markets Forum to assess the governance framework of publicly listed companies in the region. This assessment covers various aspects including board responsibilities, shareholder rights, disclosure and transparency, and stakeholder management. This recognition serves as a testament to the company's unwavering dedication to upholding the highest standards of corporate governance. By excelling in the ACGS assessment, Meralco has demonstrated its commitment to operating with integrity and safeguarding the interests of its shareholders and stakeholders. Through the award, Meralco highlights the importance of good corporate governance in today’s business environment. It serves as a reminder to all publicly listed companies that adherence to rigorous corporate governance standards is essential to ensure sustainable success and to foster a good relationship among investors, customers, and the community that they serve. The post Meralco receives 3-Golden Arrow Award for Outstanding Corporate Governance appeared first on Daily Tribune......»»
PPA, BOC probe rotting cadaver in Phl cargo in Thailand
The Philippine Ports Authority said on Thursday that it has already coordinated with the Bureau of Customs to find the consignee of the container that contains two decomposing dead bodies that were delivered and discovered in Thailand last 2 October 2023. PPA general manager Atty. Jay Daniel Santiago told the DAILY TRIBUNE that there is an ongoing coordination with the BOC, while a thorough investigation is underway. “As soon as we received info on the discovery of the corpses, we immediately initiated our own investigation and did a traceback on the movement of the container,” he said. Santiago added that they had a hard time tracing back the origin of the cargo container, said to be owned by Evergreen Marine Corporation, because of the lack of technology to do so. “It would have been easier for us if there was immediately available digital data on the identity of the container but instead, we had to do a manual traceback,” he said. The PPA has been pushing for the roll-out of the Trusted Operator Program-Container Registry and Monitoring System or TOP-CRMS, a digitized system that will register and monitor the movement of containers that enter and exit the ports that are strongly opposed by several shipping lines and the Alliance of Concerned Truck Owners and Organizations. Under the TOP-CRMS, if passed, the containers going in and out of the country will have a proper electronic log and cargoes will have a container insurance policy to ensure that they arrive safely to their destination. There are about a dozen stakeholders and business groups who objected to the Philippines having TOP-CRMS in the public consultation held in recent months. Confirms Manila origin Meanwhile, PPA-NCR South Harbor acting port manager Catherine Esto confirmed that the cargo indeed originated at the Port of Manila. “The container was declared empty by its owners. The BOC has the responsibility for the release of cargo from the port to its destination. We are also conducting our own investigation on why the container was declared empty,” she said in a radio interview, also on Thursday. Port authorities in Thailand said the container arrived at Laem Chabang Port, but when the warehouse personnel opened the said container to clean it, they discovered the decomposing bodies of two unidentified Filipinos. The Thai Police, on the other hand, assumed that the two bodies might have been dead for two weeks with no signs of torture. The post PPA, BOC probe rotting cadaver in Phl cargo in Thailand appeared first on Daily Tribune......»»
Aboitiz Group bags triple Golden Arrow Awards
With a distinguished legacy spanning five generations, the Aboitiz Group remains steadfast in its commitment to fostering positive change in shaping the future as it adheres to the standards and requirements outlined in the ASEAN Corporate Governance Scorecard. This year, following the 2022 compliance period of the ACGS, Aboitiz Equity Ventures Inc. received a 4-arrow recognition after scoring 111.68 points, AEV’s highest ACGS score since the Institute of Corporate Directors inaugurated the Golden Arrow Awards in 2018. Aboitiz Power Corporation and Union Bank of the Philippines both received a 3-arrow recognition for scoring between 100 and 109 points. Consistent top performers It’s also important to note that AEV and AboitizPower have consistently been recognized as top performers in corporate governance, both here in the country and in the ASEAN region since 2013-2017 at the PSE Bell Awards. “This distinction is the result of the Aboitiz Group’s work to transform a legacy business into a hyper-innovative, diversified conglomerate that puts corporate governance and citizenship at the core of its operations. We have always believed that transparency and accountability are essential in building trust amongst our stakeholders and forging strong partnerships in order to drive change,” said Ginggay Hontiveros-Malvar, Aboitiz Group’s chief reputation and sustainability officer. AEV, the portfolio management company of the Aboitiz Group, leads investments in diverse sectors including power, banking and financial services, food, infrastructure, land, and cutting-edge fields such as data science and artificial intelligence. The Group is presently undergoing a profound transformation to establish itself as the Philippines' first "techglomerate." This innovative growth strategy, fueled by technology and a renewed entrepreneurial mindset, empowers Aboitiz to drive transformative change, shaping the future of its businesses, host communities, and the nation. The Golden Arrow Recognition serves as a testament to Aboitiz Group's unwavering commitment to upholding the highest standards of corporate governance. Aboitiz has excelled in several key areas such as compliance, sustainability, and innovation — positioning it as a frontrunner in the realm of corporate governance. This honor reflects the Group's ongoing commitment to creating value for its shareholders, stakeholders, and the broader Filipino community. Robust policies Aboitiz Group’s robust policies and procedures across every level of the organization form the bedrock of its commitment to excellence in corporate governance. Furthermore, the company's board of directors is characterized by its independence and diversity, playing a pivotal role in providing oversight and making strategic decisions aligned with the best interests of shareholders and stakeholders. Aboitiz places great emphasis on transparency, providing clear and comprehensive information regarding its financial performance, operations, and decision-making processes to ensure that shareholders and the public remain well-informed. In terms of regulatory compliance, Aboitiz is dedicated to adhering to all relevant laws, regulations, and standards related to corporate governance. The company continuously updates its policies to ensure alignment with evolving requirements. When it comes to ethical business practices, the Group's commitment to ethical conduct and integrity remains unwavering. “This award reaffirms the team’s adherence to the shared responsibility of sustainably managing the organization. This further motivates us to champion the highest corporate governance and ethical standards as we continue to grow the business,” said AboitizPower president and chief executive officer Emmanuel Rubio. “Likewise, we also exert as much effort and diligence in upholding environmental preservation and the societal good within the areas we have the privilege to serve,” he said. Corporate governance For his part, UnionBank lead independent director Roberto Manabat said, “We humbly accept this recognition as a reinforcement of the principles that guide the Bank. Our corporate governance practices reinforce the requirements of a constantly evolving business landscape. We ensure that they comply with new regulations and are ready to adopt best practices.” Aboitiz is deeply committed to sustainability and corporate social responsibility initiatives. The post Aboitiz Group bags triple Golden Arrow Awards appeared first on Daily Tribune......»»
Aboitiz Group bags triple Golden Arrow Awards
With a distinguished legacy spanning five generations, the Aboitiz Group remains steadfast in its commitment to fostering positive change in shaping the future as it adheres to the standards and requirements outlined in the ASEAN Corporate Governance Scorecard. This year, following the 2022 compliance period of the ACGS, Aboitiz Equity Ventures, Inc. received a 4-arrow recognition after scoring 111.68 points, AEV’s highest ACGS score since the Institute of Corporate Directors inaugurated the Golden Arrow Awards in 2018. Aboitiz Power Corporation and Union Bank of the Philippines both received a 3-arrow recognition for scoring between 100 and 109 points. AEV and AboitizPower have consistently been recognized as top performers in corporate governance, both here in the country and in the ASEAN region since 2013-2017 at the PSE Bell Awards. “This distinction is the result of the Aboitiz Group’s work to transform a legacy business into a hyper-innovative, diversified conglomerate that puts corporate governance and citizenship at the core of its operations. We have always believed that transparency and accountability are essential in building trust amongst our stakeholders and forging strong partnerships in order to drive change,” said Ginggay Hontiveros-Malvar, Aboitiz Group’s chief reputation and sustainability officer. AEV, the portfolio management company of the Aboitiz Group, leads investments in diverse sectors including power, banking and financial services, food, infrastructure, land and cutting-edge fields such as data science and artificial intelligence. The Group is presently undergoing a profound transformation to establish itself as the Philippines' first "techglomerate." This innovative growth strategy, fueled by technology and a renewed entrepreneurial mindset, empowers Aboitiz to drive transformative change, shaping the future of its businesses, host communities and the nation. The Golden Arrow Recognition serves as a testament to Aboitiz Group's unwavering commitment to upholding the highest standards of corporate governance. Aboitiz has excelled in several key areas such as compliance, sustainability, and innovation – positioning it as a frontrunner in the realm of corporate governance. This honor reflects the Group's ongoing commitment to creating value for its shareholders, stakeholders, and the broader Filipino community. Aboitiz Group’s robust policies and procedures across every level of the organization form the bedrock of its commitment to excellence in corporate governance. Furthermore, the company's board of directors is characterized by its independence and diversity, playing a pivotal role in providing oversight and making strategic decisions aligned with the best interests of shareholders and stakeholders. Aboitiz places great emphasis on transparency, providing clear and comprehensive information regarding its financial performance, operations, and decision-making processes to ensure that shareholders and the public remain well-informed. In terms of regulatory compliance, Aboitiz is dedicated to adhering to all relevant laws, regulations, and standards related to corporate governance. The company continuously updates its policies to ensure alignment with evolving requirements. When it comes to ethical business practices, the Group's commitment to ethical conduct and integrity remains unwavering. The company adheres to a stringent code of conduct that guides the behavior of its employees, fostering an environment of trust and integrity. “This award reaffirms the team’s adherence to the shared responsibility of sustainably managing the organization. This further motivates us to champion the highest corporate governance and ethical standards as we continue to grow the business,” said AboitizPower president and chief executive officer Emmanuel Rubio. “Likewise, we also exert as much effort and diligence in upholding environmental preservation and the societal good within the areas we have the privilege to serve.” “We humbly accept this recognition as a reinforcement of the principles that guide the Bank. Our corporate governance practices reinforce the requirements of a constantly evolving business landscape. We ensure that they comply with new regulations and are ready to adopt best practices,” said UnionBank lead independent director Roberto Manabat. Aboitiz is deeply committed to sustainability and corporate social responsibility initiatives. The company actively pursues environmental and social responsibility, demonstrating its dedication to creating a positive impact on society and the environment. The post Aboitiz Group bags triple Golden Arrow Awards appeared first on Daily Tribune......»»
PEZA anticipates more Chinese investments in PH
Philippine Economic Zone Authority Director General Tereso O. Panga said more Chinese companies are choosing the Philippines as their next investment destination for their operations, at the completion of the 20th China-ASEAN Expo last 19 September. “With our robust economic performance and aggressive investment strategy, we are bullish in attracting more Chinese investments to the country especially in our ecozones, which can provide the best business ecosystem for our investors,” said Panga. During the Philippine Investment Forum in China, Philippine Ambassador to China Jaime A. FlorCruz highlighted that Chinese investors have expressed positive and increased interest in locating in the Philippines. He reported that the state visit of President Ferdinand R. Marcos Jr. secured over $22 billion in strategic investment commitments. FlorCruz also stated that “In the past 6 months since I took this role as Ambassador, I have met many Chinese executives actively seeking investment opportunities across numerous industries in the Philippines. Many are now poised to invest in the Philippines.” After the forum, two big Chinese companies met with Philippine officials to discuss business opportunities. One company, a leading global provider of smart devices, seeks to expand its presence in the Philippines, especially in the area of consumer electronics. Another company, one of the five largest power generation groups in China, aims to bring in renewable energy projects to the country. PEZA seeks to attract investments from high-tech industries and emerging technologies in industrial manufacturing transport, technology media and telecommunications, health and life sciences, agro-processing, renewable energy development and green ores. To date, a total of 164 Chinese companies/projects are registered at PEZA, generating P25.822 billion investments (as of May 2023) and creating 16,221 direct jobs (as of March 2023). On the sidelines of the CAEXPO, Panga represented the Philippines during the Roundtable Meeting on Investment Cooperation with the theme: “China-ASEAN Cooperation in Green Low-Carbon and Digital Economy”. He noted, “The China-ASEAN Cooperation in Green Low-Carbon and Digital Economy represents a vital step toward sustainable development, environmental conservation and economic growth, not just for the participating nations but for the entire world.” The PEZA Chief also laid out some of the initiatives of PEZA and the national government to contribute to attaining the Sustainable Development Goals. These projects include the integration of SDGs to the Philippine Development Plan (PDP) 2023-2028 and PEZA’s participation in the Global Reporting Initiative. PEZA is strengthening its ecozone development initiatives as part of the medium-term strategies under the PDP 2023-2028. Panga explained that on top of the conventional ecozones, PEZA is venturing into new frontiers in ecozone development to cater to new industries and to promote emerging global eco-industrial park models in the Philippines. “We intend to transform our ecozones and our registered export enterprises to be more sustainable, resilient and innovative and thereby make them competitive in the local and global value chain,” he said. So far, PEZA manages 422 economic zones nationwide which host 4,352 locator companies engaged in various industries including export manufacturing and IT-BPO. Considered as one of the largest expositions in China, the CAEXPO is an international economic and trade event co-sponsored by the central governments of China and the ASEAN countries. It is one of the key projects that form part of the Philippine-China Development Plan and is a major promotional platform that supports the country’s ASEAN-China Free Trade Agreement. PEZA is the lone investment promotion agency partner of the Department of Trade and Industry export promotion arm Center for International Trade Expositions and Missions for the CAEXPO participation. Following this event, PEZA joined the Special Envoy to China for the Philippine Investors’ Roadshow in Beijing, China on 26-30 September 2023. The post PEZA anticipates more Chinese investments in PH appeared first on Daily Tribune......»»
Prosperity in the coming age of Asean
It has been three weeks and I am still brimming with adrenaline from the success of the ASEAN Business and Investment Summit This is the annual event that is the high point of the ASEAN Business Advisory Council calendar......»»