Evergrande aims to win approval for restructuring proposals early 2023
China Evergrande Group expects to firm up debt restructuring proposals by end-February or early March 2023, its lawyers tell a Hong Kong court.....»»
BoI grants towers green lane access
Deals involving 6,400 shared passive telecommunications towers nationwide by 2030, which will require an investment that will provide thousands of jobs to Filipinos in the telecom industry, will be fast-tracked following the approval of its green lane application by the Board of Investment. On Wednesday, the BoI provided the green lane endorsement to the Common Passive Telecommunications Tower Infrastructure Project of EdgePoint Tower Inc. BoI Governor Marjorie Ramos-Samaniego awarded the certificate of endorsement to EdgePoint Tower representatives headed by its chief financial officer Vicente Francisco Araña at the BoI Main Office in Makati City last 18 September 2023. EdgePoint Tower Inc. is eyeing to build and lease towers for telecommunications and digital services providers in the Philippines, a P50-billion telco infrastructure project that is expected to generate around 9,700 jobs. Aligned with the Philippine Development Plan 2023-2023’s goal of expanding and upgrading infrastructure, the project shall support the government’s initiative to enhance telecommunications services nationwide and increase connectivity, mobile network access, and Internet penetration in unserved and underserved regions of the country. The BoI added the project will provide access to the essential telecommunications infrastructure to enhance mobile telecommunications services and create a level playing field among new and existing Mobile Network Operators. Telecom infra levels up “Through continuous innovation and the use of the latest technology, the project aims to elevate the methods by which telecommunication infrastructure is developed, operated, and maintained in the Philippines. It will optimize tower design to use fewer materials and will begin using indigenous materials to replace steel elements. To lower its carbon impact, the project will promote the use of renewable energy to power telecommunications infrastructure installations,” the BoI statement said. The BoI One-Stop Action Center for Strategic Investments will monitor the actions taken by concerned government agencies on Edgepoint’s applications for permits and licenses and will submit a report to the Office of the President accordingly. Telco infrastructure is one of the priority sectors of the BoI alongside EVs, smart/high-tech lighting manufacturing, outsourced semiconductor assembly and test, green metals, high-tech agriculture, renewable energy, and data centers. Aside from generating more jobs for Filipinos, the project will strengthen the country’s telecommunications landscape and provide high-speed Internet connectivity to various areas. The post BoI grants towers green lane access appeared first on Daily Tribune......»»
High BoI figures show capital swing
As a testament to the strides taken to raise the country’s laggard investments, the country’s main investment promotion agency, the Board of Investments reported registering P720 billion worth of investments for the year until August. In a forum on Thursday, BoI Governor Marjorie Ramos-Samaniego said they now see positive investment growth for the rest of the year. “As of August of 2023, the BoI approvals amounted to 72 percent of the P1-trillion investment target for the year,” she added. Last Tuesday, BoI chairperson and Trade Secretary Alfredo Pascual said he is confident of hitting and even surpassing the 2023 investment approvals target of P1.5 trillion. He said the investment promotion agency has projects in the pipeline, some of which came from past foreign trips of President Ferdinand “Bongbong” Marcos Jr. and the investment missions of the Department of Trade and Industry. Last year, the BoI approved an estimated P729 billion worth of new projects, which is 11 percent higher than the P655.4 billion approved in 2021. On Thursday, the BoI announced that it granted green lane endorsement to five floating solar power projects in Laguna Lake under Executive Order 18 or “Constituting Green Lanes for Strategic Investments,” meant to expedite, streamline and automate government approval and registration process of priority and strategic investments. “In keeping with the government’s goal of accelerating the realization of green investments in the Philippines, the BOI has given the go-ahead to ACEN Corporation’s requests for Green Lane processing of several renewable energy ventures located in Laguna Lake,” Pascual explained. The approved projects include SolarAce4, AC Laguna, AC Subic, GigaWind1 and Ingrid Floating Solar Power Plants, which are consistent with the government’s mission to accelerate the growth of eco-friendly investments. In accordance with EO 18, the five renewable energy. or RE, projects are now identified and designated as strategic investments, which are expected to be completed between 2026 and 2027. Obtaining green lane status expedites permit and license issuance, including resolving strategic investment issues. Trade Undersecretary and BoI managing head Ceferino Rodolfo awarded the Green Lane Certificates of Endorsement to ACEN president and CEO Eric Francia in an awarding ceremony at the BoI Main Office in Makati City last 6 September 2023. BoI Governor Ramos-Samaniego and Executive Director Bobby Fondevilla of the Investment Assistance Center are present in the ceremony, and ACEN representatives namely Anabelle Natividad, authorized representative; Atty. Lucky Aranas, project lawyer; and Miguel Ignacio, project manager. SolarAce4 covers 100 hectares of the lake surface area in Santa Cruz, Laguna, and will produce a 140-megawatt peak of clean energy. AC Laguna Floating Solar Power Plant — AC Laguna is located on 200 hectares of lake surface area in Victoria and Pila, Laguna, and will generate 280MWp of clean energy. The AC SUBIC Floating Solar Power Plant, occupying 200 hectares of lake surface area in Victoria and Santa Cruz, Laguna, is expected to produce 280MWp of clean energy. GigaWind1 Floating Solar Power Plant covers 200 hectares of lake surface area in Kalayaan and Paete, Laguna and will generate 280MWp of sustainable energy. Finally, Ingrid Floating Solar Power Plant is located on 100 hectares of lake surface area in Lumban, Laguna and will produce 140MWp of clean energy. At the forefront of Asia Pacific’s renewables revolution, ACEN is the first energy company in Southeast Asia to announce a Net Zero roadmap. ACEN, established in 2011, is the renewable energy platform of the Ayala Group. Its portfolio continues to grow with new solar and wind farms under construction in the Philippines, Australia, Vietnam, Lao PDR and India. ACEN aims to be the largest listed renewables platform in Southeast Asia and is targeting to reach 20 GW of renewable capacity by 2030. Its key markets are the Philippines, Australia, Vietnam, Indonesia and India. The post High BoI figures show capital swing appeared first on Daily Tribune......»»
House receives P5.7-T proposed nat’l budget
The Department of Budget and Management or DBM on Wednesday submitted to House Speaker Martin Romualdez the P5.768-trillion proposed national budget for next year, which the lawmaker said would provide Congress enough time to evaluate the soundness of the fund allocations. DBM Secretary Amenah Pangandaman delivered the proposal, also called the National Expenditure Program, on the date she promised after it was handed over to President Ferdinand Marcos Jr. last month. “Your submission of the proposed national budget in less than 10 days from the start of the regular session of Congress provides the House ample time to study, discuss, and deliberate on the point of the proposal, and formulate a national budget that is responsive to the development needs of our country,” Romualdez said. Compared to this year’s outlay, the proposed national budget for 2024 is higher by 9.5 percent. Pangandaman had said in June that the national budget should be passed into law swiftly as it had been pre-approved by President Marcos and the government department heads. She said the individual budgets proposed by government agencies totaled P5.90 trillion before the DBM trimmed it down to P5.768 trillion based on the agencies’ fund utilization capacities and the feasibility of their planned projects. The proposed national budget will also undergo Senate deliberations before the consolidated version will be submitted to Marcos for his signature which would make it a law. Pangandaman said priority allocations of the budget include education, infrastructure, and agriculture projects that are aligned with the goals of the administration’s Philippine Development Plan 2023-2028. For agriculture, the allocation was set at P30.87 billion for rice production, P5.28 billion for corn, and P1.94 billion for high-value crops, among others. “Higher investments will also be provided for agricultural support services, such as irrigation and the construction and rehabilitation of fish ports across the country and farm-to-market roads in key production areas,” Pangandaman said. For infrastructure development, the proposed fund amounts to P1.42 trillion or 5.3 percent of the gross domestic product and covers schools, hospitals and health centers, water and power systems, roads, railways and airports. Climate change projects Among other priorities are climate change projects with an allocation of P543.45 billion, its bulk dedicated to water security. Another is social development programs with a proposed fund of P112.8 billion to help 4.4 million families through the cash-transfer program Pantawid Pamilyang Pilipino Program of the Department of Social and Welfare Development. Pangandaman said the pension for indigent senior citizens was doubled to P49.81 billion and would benefit more than 4 million. Meanwhile, the housing allocation was pegged at P9 billion and will be used to shelter 6.5 million families over the next five years. Education received the highest fund proposal as required by the Constitution at P924.7 billion. The Philippines would be “one step closer” to realizing the government’s “transformative vision” for the country once Congress accepts the proposed budget according to President Marcos. In his message, Marcos explained that the proposed budget aims to provide the resources required for government operations and the ongoing pursuit of economic reform. The planned budget is P9.5 trillion more than the P5.268-trillion General Appropriations Act for 2023. “With the Congress’ approval of the proposed (Fiscal Year) 2024 National Budget, we will be one step closer to achieving our transformative vision for the country, the Agenda of Prosperity,” Marcos said. “Our journey has just begun. We will march on — one nation, one people building a better future together,” he added. The President said that the proposed budget for 2024 was a key part of the Philippine Development Plan 2023–2028, which aims to strengthen the country’s capabilities, protect the buying power of Filipinos, and improve output sectors to create more good jobs and products that can compete globally. “In turn, these strategies are to be supported by an enabling environment characterized by macroeconomic stability, infrastructure development, bureaucratic efficiency, strong rule of law, and effective climate action,” Marcos said. The post House receives P5.7-T proposed nat’l budget appeared first on Daily Tribune......»»
Proposed P5.768T 2024 budget 9.8% higher than 2023
The Philippines would be "one step closer" to realizing the government's "transformative vision" for the country once Congress accepts the proposed National Budget for 2024, President Ferdinand Marcos Jr. said. The Chief Executive made the remarks in his Budget Message on Wednesday as the Department of Budget and Management turned over the Marcos administration’s proposed 2024 budget or National Expenditure Program worth P5.768 trillion to Congress. In his message, Marcos explained that the proposed budget aims to provide the resources required for government operations and the ongoing pursuit of economic reform. Initial information from the DBM showed that the proposed budget is 9.8 percent higher than the P5.268 trillion General Appropriations Act or the enacted budget for 2023. "With the Congress's approval of the proposed (Fiscal Year) 2024 National Budget, we will be one step closer to achieving our transformative vision for the country, the Agenda of Prosperity," Marcos said. "Our journey has just begun. We will march on — one nation, one people building a better future together," he added. The President said that the proposed budget for 2024 was a key part of the Philippine Development Plan 2023–2028, which aims to strengthen the country's capabilities, protect the buying power of Filipinos, and improve output sectors to create more good jobs and products that can compete globally. "In turn, these strategies are to be supported by an enabling environment characterized by macroeconomic stability, infrastructure development, bureaucratic efficiency, strong rule of law and effective climate action," Marcos said. The President also highlighted the "strong headwinds" the country had to deal with last year as it tried to get its economy back on track. He pointed out that his economic managers made the Medium-Term Fiscal Framework, which is now the "bedrock" of the plan to change the economy, to deal with these problems. The Chief Executive said that the Philippines' gross domestic product grew by 7.6 percent for the whole year of 2022, the biggest since 1976. Marcos said that the country's growth "set the stage" for continued growth in 2023, mentioning that the country's economy expanded by 6.4 percent for the first quarter of 2023, surpassing its Asian peers such as Indonesia, China and Vietnam. The World Bank, he also said, declared that the country could reach above-middle-income status within two years. "Likewise expressing confidence in our country's economic growth, the International Monetary Fund said that it was 'highest among the ASEAN-5', noting its resilience to global pressures," the Filipino leader added. Marcos Jr. likewise cited the country's good credit quality standing, improved revenue performance and high employment rate. "Our immediate economic recovery was the result of the collective effort of the Filipinos. Unity was what made it happen," Marcos said. "For the next five years, we must do more, building on all the gains that we have made – through the same whole-of-government and whole-of-society approach. We need this not only to be effective but to be transformative," he concluded. The post Proposed P5.768T 2024 budget 9.8% higher than 2023 appeared first on Daily Tribune......»»
Marcos says reforms to improve investment climate in Phl ‘long overdue’
President Ferdinand Marcos Jr. on Thursday said the country needs to improve its investment climate to make it globally competitive “on an even basis," as requirements for investors to set up operations in the country are more demanding than in other countries. The Chief Executive said this as Marcos launched and signed Executive Order (EO) No. 18, which created strategic investment green lanes to attract more investments. In his speech, Marcos acknowledged that the reforms to create an environment that is conducive to business growth and development are "long overdue." He said that some permits take 36 months to complete in the country, while other Southeast Asian countries such as Thailand, Indonesia, and Vietnam, take two weeks to complete and approve the applications. “We cannot continue to hide behind protectionist laws and protectionist policies because no country ever got wealthy by following a protectionist policy. The wealth of the nation is defined by the amount of trade that it has gone. We can look back many centuries, and it has always been trade that has been the key to the wealth of any nation, of any economic system,” Marcos explained in his speech. “It is a continuing application of the principle of whole-of-government response to the continuing challenge of dismantling the obstacles faced by investors whenever they decide to do business here in our country,” Marcos added. With the EO, Marcos said the policy will pave the way for the government to realize the many investment pledges it has secured both domestically and internationally. Marcos Jr. also vowed that his administration is committed to realizing the vision of “Making-It-Happen” in the Philippines, noting that the Board of Investments has partnered with 36 agencies on the fast-track approvals of permits and resolution of concerns, particularly for identified strategic investments. Noting the sentiments of investors and entrepreneurs in the country, Marcos ensured that his administration is committed to making government transactions and processes “efficient, transparent and responsive to the needs of these potential investors.” "We will continue to closely monitor the performance of these processes in order to track our progress and (identify) – and we will see the areas for continuous improvement, even as we continue to pursue other projects and endeavors that will make the Philippines an even more fertile ground for investments,” he said. Trade Secretary Alfredo Pascual, also present during the event, said the EO aims to resolve business registration issues like long lines for permits and applications. "The EO is meant to expedite, streamline, and automate government approval and registration processes for priority investments or strategic investments. The strategic investments are those aligned with the Philippine Development Plan 2023-2028,” Pascual said. The event highlighted the presentation of the first Certificate of Endorsement to SunAsia Energy, Inc. and BlueLeaf Macquarie Capital, a Singapore-based company. This certificate recognized their involvement in the construction of a floating solar project with a capacity of 1,300 megawatts at Laguna Lake. The total investment for this project amounts to $1.2 billion. SunAsia Energy, known for its expertise in developing clean and renewable solar energy solutions in the Philippines, partnered with BlueLeaf and Macquarie Capital. During President Marcos' visit to Singapore in 2022, the companies expressed their commitment to invest in this project. Following this commitment, SunAsia applied for Strategic Investment status for 10 of its projects under EO 18. By using the green lane services, they were able to expedite the permitting and licensing procedures for these projects. The post Marcos says reforms to improve investment climate in Phl ‘long overdue’ appeared first on Daily Tribune......»»
NEDA: Establishing MIF preparatory for Phl’s upgrade to ‘upper middle income’ status
The National Economic and Development Authority believes that the establishment of the Maharlika Investment Fund will prepare the Philippines to sustain and complete its development programs while targeting to become an “upper middle income country” by 2025. In a news forum on Saturday, NEDA Undersecretary Rosemarie Edillon said the MIF could be a gateway for the Philippines to upgrade its current lower-middle income classification—a goal that has been outlined in the Philippine Development Plan for 2023 to 2028. “This transition will have significant implications for the country’s fiscal situation and access to concessional loans, like the Official Development Assistance,” she said. Based on the 2021 Philippine Statistics Authority data, the Philippines is under the lower-middle income classification with $3,000 or P182,438 gross national income per capita. The GNI per capita of lower middle-income status ranges from $1,086 to $4,255. Once the Philippines transitioned to upper middle-income status, Edillon said the country will no longer be qualified for concessional loans. According to NEDA official, concessional loans offers low-interest rates and extended grace periods to countries with below upper middle-income status. Once the Philippines achieves its target status, Edillon said the country will have to rely on market rates for debt financing, which she pressed “would be challenging for the government.” Citing the impact of the COVID-19 pandemic in the country, Edillon said the Philippines were not able to raise its credit rating “to achieve the desired creditworthiness, which could have improved debt financing conditions.” Hence, the Philippine government came up with exploring innovative ways to push for financing income-generating programs and attracting investments. Edillon said, one of which is the establishment of the MIF. She underscored that the “MIF aims to attract equity financing rather than debt financing”— which allows investors to become partners in projects, sharing in the risks and rewards of the venture, such as the flagship infrastructure programs of the Marcos administration. The MIF law is currently an enrolled bill, which will undergo legal scrutiny and awaits the President’s approval. Once enacted, Edillon said the MIF will provide an additional avenue for development financing, particularly for projects that are considered risky “but strategically important and have the potential for long-term returns.” Edillon also noted that the government is now working on the implementing rules and regulations of the MIF, which will help facilitate its operation and contribute to the country’s future investment and expenditure needs. The post NEDA: Establishing MIF preparatory for Phl’s upgrade to ‘upper middle income’ status appeared first on Daily Tribune......»»
Revenue targets raised for end of 2023
Marcos administration's economic managers will raise the revenue target in 2023 due to higher collections in the first five months of the year, Finance Secretary Benjamin Diokno said Wednesday. During the Kapihan sa Manila Bay forum, Diokno said they are revising their revenue collection targets further to take into consideration the implementation of tax measures that they are prioritizing. "We're revising because we have exceeded collections. So we are revising it upwards," Diokno said of the collection performance in the January to May period this year. Data from the Department of Finance last week showed that the revenue generated from January to May 2023 reached P1.592 trillion, a 10.83 percent increase compared to the P1.437 trillion collected during the corresponding period in the previous year. In line with this positive trend, the Development Budget Coordination Committee (DBCC) anticipates that government revenues will reach P3.73 trillion by the year 2023. The DBCC regularly reviews its medium-term fiscal and macroeconomic objectives every quarter. Diokno added that the DBCC will also review the Medium-Term Fiscal Framework (MTFF), which serves as the country's plan for fiscal sustainability, to assess the government's revenue objectives. He expressed confidence that the strong fiscal performance thus far indicates progress toward meeting the targets outlined in the MTFF. "I cannot commit at this time, but definitely we will have to revise," Diokno said when asked about the possible new revenue projection. "As new data comes in, you revise,'' he said, adding the government is also coming up with new tax measures. Diokno further stated that the Marcos administration aims to implement seven priority tax measures by 2025. These measures encompass initiatives such as Real Property Valuation and Assessment Reform, the Passive Income and Financial Intermediaries Taxation Act, and the proposed implementation of value-added tax (VAT) on digital services. "As recently discussed, we are pushing for the passage and implementation of a new tax on junk foods and raising the levy and expanding the tax base on sweetened beverages,” Diokno said. Furthermore, Diokno mentioned that the DOF is actively endorsing the approval of the excise tax on single-use plastics. This measure aims to reduce the consumption of such plastics by approximately 25 percent while generating an estimated P6.5 billion in revenues in 2024. Additionally, the DOF will advocate for the proposed reform of the Motor Vehicle User's Charge, which intends to generate revenue to support investments in enhancing road quality and road safety. Lastly, Diokno said the economic managers are pushing for the rationalization of the mining fiscal regime. "Now, we are pushing for mining because that is another revenue source for us. And a necessary condition for that to happen is the passage of this measure,” the finance chief said. He explained that the potential market is waiting for the passage of this measure, which seeks to simplify the current fiscal regime of the extractives sector while ensuring the government’s fair share of mining revenues. The post Revenue targets raised for end of 2023 appeared first on Daily Tribune......»»
Bong Go lauds PhilHealth for expanding hemodialysis package to 156 annual sessions
Senator Christopher “Bong” Go, Chair of the Senate Committee on Health and Demography, commended the Philippine Health Insurance Corporation (PhilHealth) for improving healthcare access and support for patients with chronic kidney disease stage 5 by expanding its hemodialysis package. PhilHealth has increased the number of annual hemodialysis sessions covered under its package from 90 to 156. This initiative aims to alleviate the financial burden faced by patients suffering from said disease and ensure that they receive the necessary treatment to manage their condition effectively. “Napakalaking tulong nito para sa ating mga kababayan lalung-lalo na sa mga mahihirap. Kaya naman maraming salamat sa PhilHealth sa pagsisigurado ng kapakanan ng bawat Pilipino,” expressed Go. “Patuloy lang sana tayo magkaroon ng nga ganitong inisyatibo na mas lalong maraming Pilipino ang makikinabang. Hindi dapat natin sila pahirapan na kumuha ng serbisyong medikal,” he underscored. The expanded hemodialysis package will enable patients to receive the necessary dialysis sessions more frequently, ensuring their health is better managed. Furthermore, the increased coverage will significantly reduce the financial burden on patients and their families, who often struggle to afford the costs of regular hemodialysis treatments. According to PhilHealth Circular 2023-009, CKD stage 5 patients will receive payment of PhP2,600 per session or a total of PhP405,600 per year. Senator Go encouraged the public to take advantage of the expanded coverage and urged individuals to stay informed about the healthcare benefits available to them. He emphasized the importance of early detection and management of chronic kidney disease, underscoring the need for regular check-ups and healthy lifestyle practices. For his part as a lawmaker, Go also earlier filed Senate Bill No. 190, which seeks to mandate PhilHealth to provide free dialysis to all its members. “Ako naman po ay hindi ako mangangako sa inyo. Susubukan ko lang po kung anong pwede kong maitulong pa sa inyo para mabawasan po ang inyong paghihirap sa paghihingi ng serbisyo medikal lalung-lalo na po ‘yung mga dialysis patients,” Go said. “Ako naman, gusto kong gumaling po kayo. Magtulungan lang po tayo, nandito lang po ako para tumulong rin po sa inyo sa abot po ng aking makakaya,” he added. It can also be recalled that Go has been advocating for a significant increase in the budget to ensure continuous healthcare coverage, and his endeavors, supported by other lawmakers, led to the approval of a budget that aligns with PhilHealth's goals. “Ako naman bilang senador, talagang isinulong natin ito, itong special provisions sa 2023 GAA to use the increase of PhP21 billion we allocated na subsidy for PhilHealth, for the improvement ng kanilang mga benefit packages, including po ‘yung para sa mga dialysis at medical, including (din) po ‘yung mental health coverage po,” explained Go. “Asahan n’yo po bilang chairman ng Committee on Health, gagawin ko po ang lahat ng aking makakaya at ang apela ko po sa PhilHealth na siguraduhin natin na up to the last centavo, nagagamit po ang pondo ng taumbayan at walang masayang dahil bawat piso, bawat sentimo ay napakahalaga po ‘yan,” he stressed. ### The post Bong Go lauds PhilHealth for expanding hemodialysis package to 156 annual sessions appeared first on Daily Tribune......»»
Go: RSC passage signifies commitment to strong healthcare
Senator Christopher "Bong" Go emphasized the significance of Senate Bill No. 2212, also known as the Regional Specialty Centers Act, in improving the healthcare system and providing specialized healthcare to every Filipino following its approval in the Senate on its third and final reading on Monday, 29 May. Go, chair of the Senate Committee on Health and sponsor of the measure, said that its passage signifies a strong commitment and a collective vision toward enhancing the healthcare landscape in the country. The senator believes that this legislation reflects the dedication of the government to deliver compassionate and accessible healthcare services that cater to the specific needs of every Filipino. “Gusto ko rin pong ibahagi sa ating mga kababayan na para sa kanila po ang panukalang batas na ito,” said Go. “It is your experiences and stories that have driven us to create a healthcare system that is compassionate, accessible, and designed to meet the needs of every Filipino,” he added. With the passage of the measure, Go said that the voices of the people have been heard, and it serves as a reminder that their concerns and welfare are of utmost importance. “Ito pong regional specialty centers ay isang paraan para mailapit natin ang serbisyo medikal sa ating mga kababayan lalung-lalo na po yung mga mahihirap,” said Go. The proposed Regional Specialty Centers Act aims to bring medical services closer to the people, particularly those who are less fortunate. It seeks to bridge the gap in healthcare accessibility by establishing specialized centers that cater to specific medical needs in different regions. If the bill is enacted, the Department of Health shall be mandated to establish specialty centers within designated DOH-hospitals in every region within a span of five years. The primary emphasis will be placed on establishing centers dedicated to heart, lung, and kidney conditions, aiming to replicate the capabilities found in the National Specialty Centers located in Metro Manila. The factors to be considered when determining the establishment of these specialty centers will involve evaluating the health requirements and demands of the population, ensuring convenient geographical accessibility to the hospital, assessing the hospital's role as a referral center, ascertaining the availability of specialized healthcare professionals, and evaluating the hospital's operational and financial performance. The measure was also authored by Senate President Juan Miguel Zubiri, Senate Majority Floor Leader Joel Villanueva, Senators Sonny Angara, JV Ejercito, Pia Cayetano, Jinggoy Estrada, Imee Marcos, Robin Padilla, Win Gatchalian, Francis Escudero, Ronald dela Rosa, Ramon Revilla Jr., Cynthia Villar, and Loren Legarda. It was also co-authored by Senators Francis Tolentino, Raffy Tulfo, Risa Hontiveros, Lito Lapid, Grace Poe, Mark Villar, Alan Cayetano, Nancy Binay, and Koko Pimentel. Go, an advocate for improved healthcare access in the country, is also the principal author and sponsor of Republic Act No. 11463 or the Malasakit Centers Act of 2019, which institutionalized the Malasakit Centers program. To date, 157 operational centers have helped more than seven million Filipinos nationwide, according to the DOH. Go has also consistently expressed his dedication to supporting the establishment of Super Health Centers throughout the country, acknowledging their potential to substantially alleviate hospital congestion and enhance accessibility to government healthcare services at the community level. Through the collective efforts of fellow lawmakers, sufficient funds had been allocated for 307 Super Health Centers in 2022 and 322 in 2023. DOH, the lead implementing agency, identifies the strategic areas where they will be constructed. Services offered in Super Health Centers include database management, out-patient, birthing, isolation, diagnostic (laboratory: x-ray and ultrasound), pharmacy and ambulatory surgical unit. Other available services are eye, ear, nose, and throat (EENT) service, oncology centers, physical therapy and rehabilitation center and telemedicine, where remote diagnosis and treatment of patients will be done. The post Go: RSC passage signifies commitment to strong healthcare appeared first on Daily Tribune......»»
Sen. Go supervises as Super Health Center rises in Guimaras
Senator Christopher "Bong" Go on Friday, 19 May, attended the groundbreaking for the Super Health Center Buenavista in Guimaras, underscoring its role in improving healthcare access for the residents of the town and nearby areas. During the ceremony, Go highlighted the significance of the Buenavista Super Health Center as a means to improve public service delivery, particularly basic healthcare, in the area. “Alam n'yo, sa kakaikot ko sa buong Pilipinas, marami pong mga buntis na nanganganak na lang nang hindi umaabot sa ospital dahil sa layo ng byahe. Ngayon po na magkakaroon na ng Super Health Center dito sa inyong lugar, mas mailalapit na sa inyo ang serbisyong medikal at makakatulong rin po yun na hindi mapuno ang mga ospital," said Go. Go emphasized the importance of accessible basic healthcare services, particularly in remote island communities, where access to quality medical care can be limited. “Hindi niyo na kailangan bumyahe pa ng napakalayo para magpagamot. Ilalapit na ng gobyerno sa mga tao ang serbisyo na inyong kailangan pagdating sa pangunahing pangangalagang pangkalusugan,” he added. The Super Health Center will bridge this gap, providing residents with basic medical services and facilities, including database management, out-patient, birthing, isolation, diagnostic (laboratory: x-ray and ultrasound), pharmacy and ambulatory surgical unit. Other available services in SHCs are eye, ear, nose, and throat (EENT) service, oncology centers, physical therapy and rehabilitation center and telemedicine, where remote diagnosis and treatment of patients will be done. Through the collective efforts of fellow lawmakers, sufficient funds had been allocated for 307 Super Health Centers in 2022 and 322 in 2023. The Department of Health, the lead implementing agency, identifies the strategic areas where they will be constructed. In Guimaras, Super Health Centers will be built in Jordan and Nueva Valencia, in addition to the one in Buenavista. Meanwhile, Go's efforts of improving public service delivery extend beyond healthcare infrastructure. As vice chair of the Senate Committee on Finance, Go likewise took the opportunity to inspect a new seawall and wharf in Buenavista, two crucial projects that he actively supported during the time of former president Rodrigo Duterte. The construction of the seawall and wharf aims to enhance the town's connectivity, allowing for faster and safer transportation of goods and services while bringing in more economic opportunities for its people. Following the groundbreaking, Go and his team then distributed assistance to 1,462 indigent families in the town. The aid provided included food packs, vitamins, masks, and snacks. Select beneficiaries also received a bicycle, a mobile device, a shirt, a watch, and pairs of shoes, as well as basketballs and volleyballs. Moreover, personnel from the Department of Social Welfare and Development provided assistance to qualified beneficiaries. The senator extended further aid to residents seeking medical care by informing them about the availability of a Malasakit Center at the Dr. Catalino Gallego Nava Provincial Hospital (Dr. CGNPH) in Jordan. He had personally conducted a monitoring visit to the Malasakit Center earlier that day and extended aid to patients and frontliners while the DSWD also provided financial assistance to qualified patients there. Principally authored and sponsored by Go, the Malasakit Centers Act aims to establish Malasakit Centers in qualified public hospitals to conveniently assist particularly poor and indigent patients with their hospital bills by covering various patient services and fees. There are now 157 Malasakit Centers nationwide. Since the first Malasakit Center was established five years ago, the centers have helped more than seven million Filipinos nationwide, according to the DOH. “Hindi niyo na kailangang pumila o umikot pa sa iba’t ibang opisina para humingi ng tulong pampagamot dahil nasa loob na sila ng iisang kwarto. Lapitan niyo lang ang Malasakit Center at wala itong pinipili. Karapatan niyo bilang mga Pilipino ang maka-avail ng serbisyo nito,” he cited. Meanwhile, Go, who is chair of the Senate Committee on Health, also mentioned ongoing efforts to upgrade the CGNPH to become a Level II hospital. He mentioned that the upgrade is included in House Bill No. 3344, which is currently pending approval in the Legislature. Go commended the local officials for their steadfast dedication to protecting the welfare of their constituents and ensuring they receive sufficient assistance during challenging times. They include Guimaras Lone District Representative Lucille Nava, Uswag Ilonggo Partylist Representative Jojo Ang, Governor JC Rahman Nava, Vice Governor John Edward Gando, Buenavista Mayor Samuel Gumarin, and Vice Mayor Cyril Beltran, among others. In addition to the aforementioned projects in Buenavista, Go also supported various other initiatives in the province, including the acquisition of a dump truck for the local government of Jordan. On the same day, Go also took part in the celebration of the Manggahan Festival. During the festivities, he attended the First Manggahan Open Volleyball Tournament, further showcasing his commitment to engaging with the local community, promoting a healthy and active lifestyle through sports, and supporting grassroots sports development. The post Sen. Go supervises as Super Health Center rises in Guimaras appeared first on Daily Tribune......»»
Evergrande aims to win approval for restructuring proposals early 2023
China Evergrande Group expects to firm up debt restructuring proposals by end-February or early March 2023, its lawyers tell a Hong Kong court.....»»
Business groups laud passage of Salt Industry Development Act
Business groups Philippine Exporters Confederation Inc. (Philexport) and Philippine Chamber of Commerce and Industry (PCCI) welcomed the approval of a law that aims to revive the salt industry which is seen to support economic growth and help create jobs......»»
FACT CHECK | PDP Laban shows incomplete data of Publicus survey favorable to Sara Duterte
MindaNews fact-checked a Facebook post of political party Partido Demokratiko Pilipino – Lakas ng Bayan (PDP Laban) that Vice President Sara Duterte gained the highest approval rating among national government officials in the 2023 fourth quarter survey of Publicus Asia, Inc. The post is misleading as it did not indicate that while she had the […].....»»
DTI: Tatak Pinoy Act to Boost PH Industrialization
The Department of Trade and Industry (DTI) to boost its efforts for industrialization with the recent approval of the “Tatak Pinoy” Act on February 26, 2024. The move is in sync with the Philippine Development Plan 2023-2028, focusing on empowering local industries to make a wider range of top-notch products and compete better globally. The […].....»»
BBM, Duterte threats and sleep deprivation
In December 2023, President Marcos Jr. scored an approval rating of 71 percent, up six points from 65 percent in October 2023, according to OCTA Research Group which polled 1,200 respondents during Dec. 10-14. Error margin was three percentage points, quite high, if you ask statisticians......»»
Globe reports steep 73.7% decline in blocked bank-related spam, scam SMS in 2023
The telecommunications company Globe has reported a significant 73.7% decrease in the number of blocked spam and scam SMS related to banks in 2023. This reduction is a result of the interception of 21.9 million bank-related fraudulent messages, a sharp decline from the 83.39 million messages blocked the previous year. Globe attributes this achievement to its proactive strategies and strong partnerships with major banks and financial institutions in the Philippines. The company has established anti-fraud alliances with the Bankers Association of the Philippines and individual players in the finance sector, enabling the sharing of data and intelligence to prevent and investigate fraud effectively. Anton Bonifacio, Chief Information Security Officer at Globe, emphasized the company's commitment to combating financial fraud and enhancing security measures for customer protection. Globe has invested approximately US$20 million to improve its spam and scam SMS detection and blocking system and operates a 24/7 Security Operations Center to filter out unwanted messages from both international and domestic sources. Despite certain limitations, Globe remains dedicated to customer protection and emphasizes the need for a unified approach in the fight against fraud. The company is focused on leveraging technology and strengthening alliances with key stakeholders to combat fraudulent activities. As Globe continues to advance its technologies and collaborations, it aims to provide a safer and more secure digital environment for its customers. For more information about Globe and its initiatives, visit www.globe.com.ph. (SPONSORED CONTENT).....»»
Uncertainty looms over Davao-Samal Bridge project amid RoW hurdles
The construction of the Samal Island-Davao City Connector (SIDC), also known as the Davao-Samal Bridge project, has faced numerous setbacks due to right-of-way (ROW) acquisition challenges. The project was halted on January 3, 2024, due to issues with landowners near a pier in Lanang at Davao City, leading to delays in the project's implementation. While there have been conflicting statements regarding the project's status, the National Economic and Development Authority-Davao Region (Neda-Davao) aims to complete the detailed engineering plans for the substructure of the west land via dock once the Deed of Transfer Possession in Davao City is released. However, ROW issues continue to persist. Despite these challenges, the project is still considered a priority and is included in the Davao Region Development Plan (DRDP) for 2023–2028. The project is funded through China’s Official Development Assistance with an estimated budget of P23.04 billion, and negotiations with the Philippine government are ongoing with a target completion date in 2027. The uncertainty surrounding the project's timeline remains as ROW hurdles persist, impacting the much-anticipated toll-free four-lane concrete exodus bridge spanning a 3.98-kilometer distance......»»
Councilor urges social media influencers to observe local laws
The Davao City councilor, Temujin “Tek” Ocampo, has urged social media influencers to familiarize themselves with local ordinances before promoting areas to their followers. Ocampo, who heads the Committee on Environment and Natural Resources, appreciates the promotion of Davao City by social media influencers but emphasizes the importance of understanding local laws before attracting crowds to specific areas. He expressed gratitude for the promotion but highlighted the challenge of controlling the influx of people once a location is featured. Ocampo plans to collaborate with Councilor Al Ryan Alejandre, Chair of the Committee on Tourism and Beautification, to accredit social media vloggers through the local government unit. He underscored the need for accredited vloggers, recognizing their contributions to the city and addressing any mistakes they might make. This initiative aims to balance recognition for positive actions with corrective measures for any missteps. The concerns arose in November 2023 when a Davao City-based environment group criticized a travel vlogger for promoting recreational activities in a river within the Panigan-Tamugan Watershed. Following a waste dumping incident on January 11, 2024, the group urged Dabawenyos, especially vloggers and influencers, to refrain from visiting protected areas for leisure. They emphasize the importance of understanding and respecting rules and regulations before endorsing specific parts of the city......»»
Greenergy’s property dividend of ANI stock still with SEC for approval
As requested by the PSE, Greenergy provided an update on GREEN’s proposed property dividend of AgriNurture shares to GREEN shareholders of record as of June 30, 2023......»»
Philippine investment approval hits record high of 20.8 bln USD in 2023
MANILA, Dec. 27 (Xinhua) -- The Philippines has approved 1.16 trillion pesos (around 20.8 billion U.S. dollars) in investments in 2023, the highest in the last five decades, the Philippines' Board of Investments (BOI) reported on Wednesday. The BOI, an attached agency of the Department of Trade and Industry (DTI), said foreign investment approvals increased 452 percent from 2022, and domestic investment approval.....»»