Some Good News...

[VtEC]

in reference to what? generally prices of goods stays once it goes up, it rarely goes down. this is the effect of inflation but the good thing is our inflation rate is very low about 3 to 4 percent.

a double digit increase of exports is very good since it would offset our imports. imports are generally paid in dollars, if we are importing more than exporting then we have a trade deficit which in turn results to more hard currencies esp. dollar flowing out of the country. a better exports also means more companies are producing more goods which in turn provide more jobs to our people.

I would not rather comment more on this for this is not the proper forum. nwei, my point is just like this, how can you explain that to people when they dont feel the difference between a 2 digit export to a low export.for sure the business world will enjoy that scenario.Thanks for the input.

[mazdamazda]

I would not rather comment more on this for this is not the proper forum. nwei, my point is just like this, how can you explain that to people when they dont feel the difference between a 2 digit export to a low export.for sure the business world will enjoy that scenario.Thanks for the input.

In simple terms... good business environment = more employment = more revenues = new investments = etc.

You aren't suppose to "feel" the difference between low & double digit export growth. That's why we have statistics & numbers to quantify these things. People always complain that they are poor and so on while clutching to the newest Nokia mobile phone that they just bought. :bwahaha:

BTTT

In a recent survey of Reader's Digest, St. Luke's was considered the best hospital in the South East Asia region - besting other hospitals from Singapore, Thailand, etc.

[CVT]

And arguably,- we need to have lower rate of population growth...

2701:bye:

[mazdamazda]

We also recorded an 8.8% increase of foreign tourists for the 1Q of 2007 (as compared to last year).

:2thumbsup:

[Camgen6]

The Philippine Peso is at its strongest since early 2001, sorry kung may nag post na nito, di ko na kasi binasa lahat ng reply, nagagalit na si Mrs. too much spending time sa tsikot daw, hehehe.

[VtEC]

We also recorded an 8.8% increase of foreign tourists for the 1Q of 2007 (as compared to last year).

:2thumbsup:

That's the good news i longed to hear bro..

[mazdamazda]

The Philippines has a BOP surplus of around $1.7 billion despite the prepayments of loans by the BSP. To note, foreign debt is slightly down by about 1.5%.

:2thumbsup:

[lightning099]

Extracted from Pattaya Today...
http://www.pattayatoday.net/index.ph...e=news&id=2306

Thailand v Philippines
14. May 2007, 22:08
by Peter Lloyd

I am sitting in Liverpool in the UK writing this, having been travelling almost non-stop for the whole of April and all of May so far. I am almost over the shock of having bought the world’s most expensive kebab in a wealthy area of London at a posh kebab shop (which sounds like an oxymoron to me). The price – EIGHT HUNDRED AND FIFTY BAHT (12.50 GBP!)

Since my last column I have been to the Philippines, France, Italy, Dubai, the island of Zanzibar, off the coast of East Africa, where I was able to swim with (and photograph – see pic) a pod of wild dolphins, which was a superb experience, and I’m finally now back in the UK. I was impressed by my time in the Philippines, which, after the recent travails of Thailand actually appears to be an increasingly attractive alternative destination in which to live and invest, if you select your destination carefully. No sooner had I decided to write about it, than a big article appeared in the Wall Street Journal echoing my own increasingly favourable impressions of the Philippines from this trip. It gave the recent example of Texas Instruments building a second, 1 billion US$ assembly plant there, in preference to China which has seen land prices, rents and salaries soar on the east coast, and because they don’t want to put all their eggs in the China basket.

They were also swayed by the prevalence of a highly educated and fluent English-speaking population, which is why Vietnam didn’t get it. The same considerations are moving Intel towards locating a 2.5 billion US$ plant in the Philippines, where new tax legislation and greater investment brought about by a stabilizing political and economic landscape have breathed new life into the wider economy and boosted annual GDP figures which in turn attract even more investment though favourable publicity. I don’t think Thailand was ever in the running, but it goes to show what factors influence business decisions in the region. I spent a few days in Subic Bay, scuba diving on World War 2 shipwrecks, and I had a great time there. I also looked at the strong, well-run local economy and liked what I saw. Subic used to be a big US navy base, and is now a Freeport and a preferential economic zone which is attracting increasing business, and is expanding fast, with ongoing land reclamation projects and companies queuing up to build factories there.

At first I was bemused about Thailand’s recent decision to pay a massive amount of money to a PR firm in the USA, to counter Thailand’s recent, bad international publicity. The move once again suggested a petulant desire to catch up with Thaksin, who had previously and successfully instructed a PR firm of his own, which he has just sacked. But I now think Thailand needs to do everything it can to improve its international image, and fast. Whilst I was in Africa and the Philippines, and also now I am back in the UK, I have spoken to many people about Thailand, and everyone who asks me about Thailand usually starts with a negative comment about its visa tightening (see later) or about the increasingly poor business outlook for the country, or the military government, or the well-publicised disastrous recent capital controls and tightening up of the foreign ownership of businesses. It’s always a negative observation, never something positive. But not only is it individuals who hold these views. I have read numerous reports recently of multinationals shifting large investments away from Thailand, wary of inept economic mismanagement and military rule, the ongoing political turmoil, and amid concerns over when the next election will be held, and of falling tourist numbers, particularly from Asian (mostly Japanese and Korean) tourists, worried about personal security. All statistics detailing last year’s final quarter and this year’s first quarter foreign direct investment figures show dramatically weakened investment. Many companies are now looking to Asian neighbours – Malaysia and Vietnam in particular, but increasingly the Philippines, as alternative investment destinations. Unfortunately you don’t need to be a psychic to see the possibility of more pain still to come in the Thai economy as interest rates rise and the real estate market takes a further beating both domestically and from international investors and retirees. But out of real estate doom and gloom usually come buying opportunities, and I think towards the end of the year we will see some very interesting investment opportunities as developers and sellers cut prices to shift stock. Already the incentives offered by developers to real estate agents and to buyers are growing in attractiveness, and maybe this will ironically become the jump start the country needs – a plentiful, cheap supply of quality real estate just waiting to be bought at rock bottom prices.

[maverickjazzy]

I would not rather comment more on this for this is not the proper forum. nwei, my point is just like this, how can you explain that to people when they dont feel the difference between a 2 digit export to a low export.for sure the business world will enjoy that scenario.Thanks for the input.

no offense to you brod and i understand what you're saying but as mazdamazda said you are not supposed to feel a difference between a single digit and a double digit growth in exports nor it would have a great impact on your personal finances or it would have a sizable effect on the prices of commodities, these are governed by the law of supply and demand. i would not elaborate much because economics is a pretty boring subject.

what we're saying is that basically a strong exports would result to more income for companies. and more income for companies means more money to invest and for capital expenditures. which means more investments (either re-investments or new investments) would result to more jobs. if you are currently employed you would not feel much effect, but for those people who are unemployed and were suddenly hired by these companies due to expansion or new investments, it would be a great thing for them!

[jonski]

Kakalungkot kasi hindi mo ito mapapanood sa TV kasi mas gusto ng media negative news. kawawa naman.

[greenlyt]

Kakalungkot kasi hindi mo ito mapapanood sa TV kasi mas gusto ng media negative news. kawawa naman.

exactly coz it wont sell.... ang mabenta kasi are violence, dirty politics.. would you believe break-ups
i always check this thread kasi i find reasons to stay here ..... believe that Philippines still has a chance

[maverickjazzy]

Mining investments to hit $ 348 M Local investment in the mining industry this year is expected to reach US8 million as more mining companies are expanding their facilities.

Environment and Natural Resources Sec. Angelo Reyes said the expansion of the HPAL facility of Coral in Palawan is expected to bring in about $ 154 million; $ 23 million from the construction of the base metal plant of TVI in Zamboanga del Norte, $ 21 million from the development of the Didipio copper-gold project in Nueva Vizcaya; $ 36 million from the Masbate gold project in Masbate island; and $ 97 million from the continuing rehabilitation of the Carmen copper project in Cebu.

He told members of the business community during the JP Morgan Philippine corporate access days forum that a total of US4 million in investments have been infused in the country’s mining industry during the past two and a half years of the government’s mining revitalization program.

Investments are still expected to rise in the coming years with significant inflow next year up, said Reyes.

"The Philippines is a logical choice for many prospective mining investors because of the country’s highly potential mineral wealth, and the country should take advantage of this interest to generate funds needed for economic development."

Among the areas identified by the DENR chief as having high mineral potential include Baguio and Mankayan districts area, for copper and gold; Surigao-Davao districts area, for gold, chromite and nickel; and Palawan, also for nickel.

The mining companies operating in these areas are Lepanto Consolidated Mining Co. and Philex Mining, for gold in the Baguio-Mankayan area; Berong Nickel Mining Co. and Celestial Nickel Mining, for nickel in Palawan; and JLB Enterprise in Surigao del Norte, Ventura Timber Corp. in Surigao del Sur, Carac-an Development Corp. in Surigao del Sur and Nationwide Development Corp. in Davao del Norte.

Since the start of the government’s mining revitalization program in 2004, some 6,500 new jobs have been created by the industry and that an additional of more than 30,000 jobs are still projected to be generated between 2008 and 2010.

Aside from gold, copper, and nickel, magnetite- and chromite-bearing sands also abound in the country’s offshore area.

The Philippines has around 2.2 square kilometers of offshore and exclusive economic zone area that can be explored for such resources.

"The country’s rich mineral wealth cannot just be left untapped on the ground but has to be developed and exploited in order to generate the capital wealth needed for the development of our communities and country," Reyes said.

DENR 2006 mining industry statistics showed that mining gross production value reached P68.4 billion; mining’s contribution to gross domestic product in 2005 also reached P14.8 billion; and taxes, fees and royalties from mining amounted to P3.1 billion.

[maverickjazzy]

Medyo OT lang po, about 4 years ago or sometime in 2003 (this was the time when the country is reeling from so much problems), an officemate of mine told me that his wife has some psychic powers. His wife predicted that GMA would be re-elected as president(although she did not specify if through cheating or honest votes )and that during the latter part of Gloria Arroyo's 2nd term our country would start to take-off economically and/or experience renaissance. Although i'm very skeptical at that time and still skeptical up to now if this would come true because I dont believe in supernatural powers.

But I'll gladly change my beliefs about psychic powers once our country really achieve some measure of prosperity and this new-found economic strength of our country trickles down to the majority of our people.

[morrissey_05]

i think that should be the measure of our economic growth, that it has actually trickled down to the majority. that for me is the real good news.

[rdecruze]

i think that should be the measure of our economic growth, that it has actually trickled down to the majority. that for me is the real good news.

I think we will come to that. Syempre matagal kasi marami tayo kaya kailangan muna ay more projects to create more jobs.
I've heard this phsychic story and i pray sana totoo para mapatawad naman si GMA sa kanyang mga kasalanan....we will see in her last term

[lightning099]

UK-based firm to invest $1.3B on biofuel refineries in RP
from philstar.com
Thursday, May 24, 2007

UK based bioenergy technology provider NRG Chemical Engineering Pte Ltd. will invest $1.3 billion (P59.8 billion) in a deal with state-owned PNOC-Alternative Fuels Corp. to build biofuel refineries and plantations in the Philippines.

The amount represents the biggest investment by a foreign firm in the country’s biofuels industry.

PNOC-AFC, the biofuels unit of Philippine National Oil Co., has signed a memorandum of understanding (MOU) with NRG allowing the two companies to put up bio-refineries and establish jatropha plantations in the next five years.

“NRG has been looking for an investment haven in the various countries in the region and they have decided to invest in the Philippines,” PNOC-AFC president and CEO Peter Abaya said in a press conference.

Negotiations for the joint venture with NRG, Abaya said, started nine months ago. NRG focuses on cutting-edge innovative clean technologies. It intends to enter into the renewable energy and chemicals sectors in the Philippines through biorefining and expects to emerge not only as a significant producer in the biodiesel sector but also in green chemicals and downstream end-products.

After the MOU signing, the two firms are expected to set up a local company 70 percent to be owned by NRG and 30 percent by PNOC-AFC.

Based on the MOU, NRG will invest $455 million for a 3.5 million metric ton (MT) bio-refinery in the first three years of operation of the new firm. The UK firm will also pour in some $600 million for about 500,000 hectares of jatropha plantation over the next five years. Another $200 million would be spent to put up a 300,000 MT bio-ethanol plant.

The joint venture said it plans to build between 350,000 to 700,000 tons of biodiesel capacity starting this year.

The investment is crucial to boost the country’s biofuels industry after Republic Act 9367 or the Biofuels Act was passed early this year.

The law mandates the blending of one percent locally-sourced biodiesel in all diesel products sold by May 2007 and five percent locally-sourced bioethanol mix in all gasoline products in 2009 and a 10 percent bioethanol blend in 2011.

The Biofuels Act is also expected to speed up the government’s efforts towards attaining energy self-sufficiency given that the needed investment and regulatory environment for the development of the local biofuels industry is already in place.

Abaya estimated that the production of biodiesel in the Philippines is projected to increase by at least 200,000 MT in 2009 with the entry of PNOC-AFC in the market. PNOC-AFC favors jatropha oil as its primary feedstock for biodiesel production, with coconut and palm oil as supplements.

“PNOC-AFC will embark on an integrated biofuel production to ensure sustainable supply of feedstock and lower production cost while providing maximum benefits/returns to the company and the farmers. The company will also serve as a catalyst in biofuels production using cheaper indigenous feedstock one of which is jatropha, thereby reducing the country’s dependence on imported oil while contributing to the economic development in the countryside,” Abaya said.

“The growth of the global biofuels market has been driven by government incentives and volatile fossil fuel prices. Governments around the world have promoted the use of biofuels in order to reduce air pollution, mitigate climate change and lessen the reliance on imported fossil fuels, as well as to promote their agricultural industry, “ he added.

“Various countries around the world are intensifying efforts to use biofuels. Indonesia is targeting a 10 percent domestic usage of biofuels by 2010 while the Malaysian government has approved 52 biodiesel licenses, with a cumulative capacity of five million tons. On the other hand, Natural Fuel, a biodiesel manufacturer headquartered in Australia, invested $130 million to build the world’s largest biodiesel facility in Singapore. Here in the Philippines, the Biofuels Act was signed into law on January 12, 2007 and this is the first of its kind in Southeast Asia,” Abaya pointed out.

[heightdeprived]

UK-based firm to invest $1.3B on biofuel refineries in RP
from philstar.com
Thursday, May 24, 2007

UK based bioenergy technology provider NRG Chemical Engineering Pte Ltd. will invest $1.3 billion (P59.8 billion) in a deal with state-owned PNOC-Alternative Fuels Corp. to build biofuel refineries and plantations in the Philippines.

The amount represents the biggest investment by a foreign firm in the country’s biofuels industry.

PNOC-AFC, the biofuels unit of Philippine National Oil Co., has signed a memorandum of understanding (MOU) with NRG allowing the two companies to put up bio-refineries and establish jatropha plantations in the next five years.

“NRG has been looking for an investment haven in the various countries in the region and they have decided to invest in the Philippines,” PNOC-AFC president and CEO Peter Abaya said in a press conference.

Negotiations for the joint venture with NRG, Abaya said, started nine months ago. NRG focuses on cutting-edge innovative clean technologies. It intends to enter into the renewable energy and chemicals sectors in the Philippines through biorefining and expects to emerge not only as a significant producer in the biodiesel sector but also in green chemicals and downstream end-products.

After the MOU signing, the two firms are expected to set up a local company 70 percent to be owned by NRG and 30 percent by PNOC-AFC.

Based on the MOU, NRG will invest $455 million for a 3.5 million metric ton (MT) bio-refinery in the first three years of operation of the new firm. The UK firm will also pour in some $600 million for about 500,000 hectares of jatropha plantation over the next five years. Another $200 million would be spent to put up a 300,000 MT bio-ethanol plant.

The joint venture said it plans to build between 350,000 to 700,000 tons of biodiesel capacity starting this year.

The investment is crucial to boost the country’s biofuels industry after Republic Act 9367 or the Biofuels Act was passed early this year.

The law mandates the blending of one percent locally-sourced biodiesel in all diesel products sold by May 2007 and five percent locally-sourced bioethanol mix in all gasoline products in 2009 and a 10 percent bioethanol blend in 2011.

The Biofuels Act is also expected to speed up the government’s efforts towards attaining energy self-sufficiency given that the needed investment and regulatory environment for the development of the local biofuels industry is already in place.

Abaya estimated that the production of biodiesel in the Philippines is projected to increase by at least 200,000 MT in 2009 with the entry of PNOC-AFC in the market. PNOC-AFC favors jatropha oil as its primary feedstock for biodiesel production, with coconut and palm oil as supplements.

“PNOC-AFC will embark on an integrated biofuel production to ensure sustainable supply of feedstock and lower production cost while providing maximum benefits/returns to the company and the farmers. The company will also serve as a catalyst in biofuels production using cheaper indigenous feedstock one of which is jatropha, thereby reducing the country’s dependence on imported oil while contributing to the economic development in the countryside,” Abaya said.

“The growth of the global biofuels market has been driven by government incentives and volatile fossil fuel prices. Governments around the world have promoted the use of biofuels in order to reduce air pollution, mitigate climate change and lessen the reliance on imported fossil fuels, as well as to promote their agricultural industry, “ he added.

“Various countries around the world are intensifying efforts to use biofuels. Indonesia is targeting a 10 percent domestic usage of biofuels by 2010 while the Malaysian government has approved 52 biodiesel licenses, with a cumulative capacity of five million tons. On the other hand, Natural Fuel, a biodiesel manufacturer headquartered in Australia, invested $130 million to build the world’s largest biodiesel facility in Singapore. Here in the Philippines, the Biofuels Act was signed into law on January 12, 2007 and this is the first of its kind in Southeast Asia,” Abaya pointed out.

Hmmmmm, I don't see it as really good news, AFAIK there are also local Biofuel companies in our turf, what will happen to them after this?

Incoming investment is good however if it will stomp on local players, bad anyway it's just me...

If incoming investments are pouring in I hope the government will be sensitive enough to local players who already exist and minimise dependence on outside investors which will seep out the profits coming from local consumers and as much as possible try to keep the money within the Philippine economy, again it's just me...