...the first Asian to race in NASCAR

Pinoy makes history anew in Euro NASCAR

 

ABS-CBNnews.com

07/05/2013

 

 

Filipino racing star Enzo Pastor - File Photo

Pastor is first Asian to race in oval racetrack

MANILA -- Filipino racing star Enzo Pastor, the first Filipino ever invited to compete in the Euro Racecar NASCAR circuit, is making serious progress in Europe as he now stands just eight points short of the fourth overall position in the standings.

Pastor is tied with Vincent Gonneau after two 5th-place finishes in rounds five and six at Brandshatch in England.

Pastor is now preparing to ride on an official oval track in Tours, France for the fourth leg of the series. This means faster speeds but also entails greater risk due to the elevated and angled road.

“It is yet another historical first for Enzo,” said his father, Philippine Formula Autosports Foundation, Inc. (PFAFI) president Tom Pastor. “This race in Tours makes him the first Asian to race in an oval racetrack, no small feat in the racing world to be sure.”

Pastor’s partnership with legendary Formula One visionary Ted Toleman, has consistently brought him success in the world of motor racing.

Aside from climbing the current standings, Pastor has also been invited to participate in the K&N Pro Series East by Creation Cope Racing, an honor usually reserved for only the Series Champion overall winner in Euro Racecar NASCAR.

His campaign has been fully supported by the Department of Tourism/TIEZA as part of the department’s “It’s more fun in the Philippines” campaign.

Asian V8 to take place in Clark

By February 2014, the Clark International Speedway will serve as host of the Asian V8 SpeedChallenge, an initiative of the Euro Racecar NASCAR Touringcar Development Program and will be launched by July 30, 2013 at Resorts World Manila Plaza.

The aforementioned Speedfest will be co-presented by Petron Corporation while Resorts World Manila will be a major sponsor.

“In preparation for the SpeedChallenge, Euro Racecar NASCAR Touring Car CEO Jerome Galpin expects that we upgrade our racetrack facilities and safety features which should be completed as scheduled,” notes the elder Pastor.

“The owners of the Clark International Speedway are doing their best to getting ready for the Fédération Internationale de l'Automobile (FIA) inspection.”

 

...the Clark airport

Clark airport wins international award

 

ABS-CBNnews.com

03/19/2013

 

 

MANILA, Philippines - The Clark International Airport on Monday won an international award, beating 6 other airports in Asia.

 

The Clark airport (IATA Code: CRK), won the 2013 Routes Airport Marketing Awards in the Asia Heats, under 20 million passengers category.

The award was given during an annual gathering of the region's airline and airport operators in Mumbai, India.

The Philippine Department of Tourism (DoT) also received the Highly Commended-Destination Marketing Award, narrowly missing top honors in the category won by Tourism Australia.

Routes Asia, organized by UBM Aviation Routes Ltd based in Manchester in the UK, is the largest route development event for the entire Asia region.

This year, over 700 aviation professionals travelled to Mumbai to participate in the global airline and airport networking event.

Clark International Airport Corporation president Victor Jose Luciano, in a press statement Tuesday, said the awards are a major boost for Philippine aviation and tourism.

“The real winner here is not only Clark Airport nor the Department of Tourism but the entire aviation and tourism industry in the country. Slowly but surely, we are putting the Philippines back on the global stage and the major players in these industries are taking notice and positive interest in our country,” Luciano said.

“Also, what we have shown here is that under the good governance thrust of President Aquino, the Philippines can at last be at par with our more developed and prosperous neighbors in the region,” he added.

According to UBM Aviation Routes, the “Routes Airport Marketing Awards recognize and reward the highest standards of marketing activities undertaken by airports. This year the awards were split into two categories based on the size of the airport, and also a new tourism award for best destination marketing campaign by a tourism authority.”

In the under 20 million passengers category, CRK edged out 6other major airports in Asia, namely, Aukland International Airport in Mangere, New Zealand; Bengaluru International Airport in Devanahalli, Kamataka, India; Rajiv Gandhi International Airport in Shamshabad, Hyderabad, Andrha Pradesh, India; Juanda-Surabaya International Airport in Sidoarjo, Indonesia; Kansai International Airport in Osaka, Japan; and Siem Reap International Airport in Siem Reap, Cambodia.
Short-listed for the Destination Marketing Awards were the Okinawa Convention & Visitors Bureau, the Philippine Department of Tourism, the Singapore Tourism Board, Tourism Australia, and Tourism New Zealand.

Changi International Airport in Singapore won the award for the over 20 million passengers category.
Susan Willis, Marketing and Analysis Manager at UBM Aviation Routes, said CRK got the nod of awards judges due to its "effective growth" in 2012.

"Your airport was voted for by the airline community together with a panel of industry experts drawn from the airline networking planning community where they considered your marketing services and effective growth over the last 12 months," Willis told Clark airport official.

Luciano cited CRK's "phenomenal performance" in terms of growth in its passenger traffic and aircraft movement last year.

"Clark Airport had yet another banner year in 2012 posting an unprecedented 72% growth in passenger traffic, 69% increase in air traffic movements, and 44% increase in airport revenues.

Despite another challenging year for the global aviation industry, Clark Airport continued its march as one of the region’s fastest growing airports during the past four years," Luciano said.

At the end of 2012, CRK drew a total of 1,315,757 domestic and international passengers surpassing the 767,109 figure from the previous year. Meanwhile, airport revenue grew by 44% from P355 million in 2011 to P511 million in 2012 even though expenses in running the airport increased by only 7% or from P303 million in 2011 to P324 million in 2012.

Luciano said "2013 promises to be an even bigger year for Clark airport."

"The start of the new year brought with it new optimism and higher expectations. After signing an agreement with CIAC during the second week of February this year, Emirates announced that it has selected CRK as its second Philippine destination with daily direct flights from Dubai to Clark starting on October 1, 2013," he said.

 

...the PH hot air ballon fest

Hot air balloon fest puts PH on aerial tourism map

 

 

by Katherine Visconti

Rappler.com
02/21/2013

BIGGEST FIESTA SO FAR. This year's Philippine Hot Air Balloon Fiesta brings together 32 balloons from 15 countries. Photo by Katherine Visconti

ANGELES CITY, Philippines - A floating bus, men dangling from parachutes, and military training jets dot the sky.

 

The view sounds fantastical and it is.

 

From February 21 to 24, paragliders, skydivers, helicopters, kites, jets, and hot air balloons take to the sky for the 18th Philippine International Hot Air Balloon Fiesta. Not surprisingly, the annual event is also known as "the weekend of everything that flies."

 

"A record number of 32 balloons represented by some 15 countries will participate in this year's 18th Philippine International Hot Air Balloon Fiesta, the biggest participation in the history of the Philippine Hot Air Balloon Fiesta to date," said Arnel Paciano D. Casanova, president and CEO of the Bases Conversion and Development Authority, in a statement.

 

AERIAL TOURISM. The Philippines is determined to take the lead. Photo by Katherine Visconti

Visitors have come from as far as Belgium, England, Poland, the United States, and the Netherlands to chart hot air balloons in the yearly aviation event.

 

Aimed at putting the Philippines on the map for aerial tourism, the event is supported by the Department of Tourism, the Clark Development Corporation, the Clark International Airport Corporation, and the Bases Conversion Development Authority.

 

An orchestra in the air

 

NEED FOR SPEED. The sexy jets of the Breitling Jet Team gleaming and ready to fly. Photo by Katherine Visconti

A special sight this 2013 is the acrobatic performance of the world-renowned Breitling Jet Team, which considers itself "the world's largest professional civilian flight team." The team was brought to Manila by jewelry and timepiece brand Lucerne.

 

Composed largely of former fighter pilots from France, the skilled crews steered 7 L-39 C Albatros aircrafts — Czech-made twin-seater military training jets — through a daunting series of tricks.

 

They looped through the air, barrel-rolled, and dove straight down together, splitting apart at exactly the same moment.

 

Watch a video on the team's stunts here:

Actor Dingdong Dantes was a passenger in one of the Breitling flights. He described the experience as "exciting and nerve wracking." He added that his dad used to fly planes and that he always dreamed of being a pilot since he was a child.

 

Dantes was in professional hands but there are always risks at every corner, explained Breitling pilot Patrick Marchand. Breitling said in a press statement that pilots flying upside down may be subjected to 9 times the amount of pressure on a typical human body, causing "immense strain on the muscles to keep blood flowing evenly throughout the body."

 

DREAM COME TRUE. Actor Dingdong Dantes's father was a pilot. Photo courtesy of GMA7

The pilots' lives depend on working together as a team. Marchand said they are all extremely close and he intuitively recognizes his teammates' voices over the radio.

 

He called their team "a symphony in the sky" for whom precision is of utmost importance.

 

Captain Jacques Bothelin agreed. "I'm the conductor," he laughed. When he dives, his wingmen follow no matter what, he explained to Rappler.

 

Like musicians, they all have to be in perfect sync for the performance to come off without a hitch, added Marchand.

 

Here are photos from the Breitling Jet Team's shows on February 21 at 8:30am and 10:30am:

Photo by Angie de Silva

Photo by Angie de Silva

Photo by Angie de Silva

Photo by Angie de Silva

ONE DOWN, 3 TO GO. The 18th Philippine International Hot Air Balloon Fiesta runs until February 24 at the Clark Freeport Zone in Angeles City, Pampanga. Photo by Angie de Silva

...the Investment "Sweet Spot"

Editorial

Philippines 'Sweet Spot' for Investment

Manila Bulletin

February 18, 2013

 

 

The Philippines edged its Asian neighbors in providing an environment that attracts big foreign companies. Besides traditional investment sources such as United States of America, Japan, South Korea, and Taiwan, potential investors from Europe, the Middle East, and Africa now look at the country as investment site.

The Board of Investments (BOI) reported that R75 billion worth of investments poured in the first month of 2013 the biggest of which was the R40-billion Subic power project. BOI-registered investments come with tax holiday packages and incentives to attract more big companies. The growing investor confidence is fueled by the robust 6.6% growth in the economy in 2012, a competitive labor force, and a stable government.

The International Finance Corp. (IFC), the private sector financing arm of the World Bank, plans to invest up to $400 million in the Philippines in 2013 in Public-Private Partnership (PPP) projects, transport, tollroads, water, and power, particularly renewable.

The United Kingdom (UK) has increased trade and investment in the Philippines, particularly in information and communications technology, PPP, retail, education, energy, and health care.

Investments from Taiwan rose over 30 percent to $400 million in 2012 from $300 million in 2011, according to the Taipei-based Manila Economic and Cultural Office. Some $400 million in investments were infused by 16 companies in various Philippine industries, of which about $100 million went to Clark and the rest to economic zones in Batangas, Laguna, and Cavite. Some 800,000 Filipinos are employed today by foreign investors in 275 special economic zones nationwide.

We congratulate the Department of Trade and Industry, headed by Secretary Gregory L. Domingo, and other Officers, in their collective efforts to push for long-term and sustainable investments to ensure a strong economy in the Republic of the Philippines. CONGRATULATIONS AND MABUHAY!

...the best airport freezone in the world

Clark 3rd best airport freezone in the world

 

ABS-CBNnews.com

07/31/2012

 

MANILA, Philippines - Clark International Airport in Pampanga was ranked third best airport freezone in the world according to a survey conducted by a magazine published by the Financial Times Business Group of London.

 

A Palace official welcomed the report, saying the government is working to improve the airport's facilities.

"We welcome the assessment made by the London Financial Times Group. Certainly, we are in the process of improving our airport facilities... That has been the commitment made by Transportation and Communications Secretary Mar Roxas to the President and, therefore, the said agency will exert all its best efforts to improve the facilities of not only Clark but also the other airports," Presidential Spokesperson Edwin Lacierda said.

FDi Magazine, a bi-monthly news and foreign direct investment publication, recently published its "Global Free Zones of the Future 2012/13" report. In the magazine's report, Clark International Airport Corporation (CIAC), which runs the airport, was named the third best freeport airport in the world.

The same magazine ranked Clark Freeport Zone as the 8th best freeport zone in the world, with Dubai Airport Free Zone being named the best. In 2010, Clark Freeport Zone was ranked 7th.

Earlier, the Department of Transportation and Communication said it is financing a P100-million study on the feasibility of turning Clark International Airport into the main international airport of the country.

...the polvoron connection

Pitching Philippine tourism via ‘polvoron,’ mangoes

By Jocelyn R. Uy
Philippine Daily Inquirer

Thursday, July 26th, 2012

SEOUL—Don’t belittle the unpretentious “polvoron.”

Fashioned out of flour, powdered milk and sugar, it is one of the native Philippine delicacies, along with dried mangoes, offered in a one-stop shop set up on a street in this bustling South Korean capital to attract more Korean tourists to the Philippines.

On the shop’s glass window, an eye-catching poster greets passersby: “Outdoor cafés. More fun in the Philippines.”

Guests at the shop are offered mango juice or coffee and Filipino delicacies, such as dried mangoes and polvoron, while they browse through brochures detailing holiday packages to the Philippines.

The shop’s staff is a mix of Filipinos and Koreans.

The Department of Tourism on Saturday opened its first ever international one-stop shop and showroom to pump up the already growing tourist traffic from South Korea.

“Korea is our No. 1 market so it is only right that we set up our first ever showroom here,” Tourism Secretary Ramon Jimenez Jr. said at the opening.

He said the launch was a milestone for the Philippines, the first Asian country to have such a showcase in South Korea. “This is where the Philippines has many friends,” he told guests.

Present at the opening of the one-stop shop were Philippine Ambassador Luis Cruz, Korea’s Mode Tour president Hong Ki-jeong, Assistant Tourism Secretary Domingo Ramon Enerio III, tourism attaché Maricon Ebron and other VIPs. Representatives from airlines and tour operators also graced the event.

Nestled in Euljiro Jung-gu district, the showroom is flanked by hotels, banks, malls, the subway and historical spots, such as ancient royal palaces.

“This is a perfect place because this is a very busy area and there is a huge traffic of potential tourists coming from the subway station, the malls, restaurants, banks and offices,” Enerio said.

From its signage bearing the slogan “It’s More Fun in the Philippines,” down to its brightly decorated glass windows, the showroom is eye-candy amid a tangle of concrete and steel.

Its interior showcases Filipino culture: The walls are painted bright yellow and orange and the shelves are arrayed with colorful picture frames made from indigenous materials, porcelain dolls dressed in the traditional baro’t saya and books on fiestas, ancestral weaving, Jose Rizal, birdwatching, golfing and cookbooks.

A flat screen on the main wall plays videos of the Philippines’ white, sandy beaches, blue waters and other tourist destinations. Two huge posters showing Bohol’s tarsiers and festival costumes also embellished the walls.

Hundreds of brochures feature prime destinations—Boracay, Bohol, Cebu, Manila, Davao, Subic and Clark. Tour packages offered by Philippine Airlines, Cebu Pacific and Zest Air are on hand.

“This is a one-stop shop for your travel plans … you can book your travels here,” Ebron said. “There is free coffee and mango juice every time you visit us.”

...the PH in world investor's radar

PH catches GE’s eye amid boom in emerging Asia

 

80 firms visited to check opportunities

By: Riza T. Olchondra
Philippine Daily Inquirer

 Monday, July 23rd, 2012

The Philippines has caught the eye of the likes of American giant General Electric, whose research and development (R&D) arm is exploring growth opportunities in Asia.

As of June, 28 inbound missions (groups of business leaders) and 80 individual firms sent officials to Manila.

There’s one more on the way: GE Global Research.

Asked to confirm buzz on GE Global’s interest in the Philippines, Trade Undersecretary Cristino L. Panlilio said company executives were set to meet with trade officials.

“It just says the Philippines is in the radar of world investors,” Panlilio said of the meetings.

As for GE Global, he said, “They’re interested in engineering design. It may be an R&D, BPO [business process outsourcing] type of operation.”

Aside from hosting and providing talent, the Philippines can also offer assembly facilities, Panlilio said.

“We can follow up with assembly of machinery, like jet engines, turbines,” he said.

GE Global may be offered locations in economic zones such as those in Clark and Subic.

“We want to create an ecosystem for them. For manufacturers to come in, 60 to 70 percent of what they need must be accessible here,” Panlilio said.

He said there was a maker of sophisticated technology products such as aircraft wing flap mechanisms for Boeing and Airbuses. It operates in the Baguio City Economic Processing Zone, which hosts many other electronics and high-technology firms.

Such ecosystems, economists say, boost economic growth through investments and job creation not only in the growth engines (BPO, manufacturing, etc.) but also in allied sectors such as food and retail, which benefit from consumer spending.

The Business Processing Association of the Philippines reported that revenue in the country’s outsourcing sector reached $11 billion in 2011, with 643,000 people employed.

The Philippines had an 18 percent share of the $44 to 46 billion global BPO market in 2011, right behind India, according to Everest Group Analysis.

However, the Philippines had only 1 to 1.5 percent share of the $10-billion global engineering outsourcing market, which is seen as a high-growth sector.

As such, the Department of Science and Technology (DoST) is pushing for the Philippines to climb the engineering services ladder. “We are No. 1 in call centers. We intend to double our market share in three other fast-growing services: information technology, engineering services and multilingual BPO,” DoST deputy executive director for ICT industry development Alejandro P. Melchor III said in a presentation to engineering educators last June.

...the top Global Free Zone

Editorial

Clark Top Global Free Zone

July 16, 2012

Manila Bulletin

MANILA, Philippines — The Clark Freeport Zone has been recognized as among “The Top Global Free Zones” for 2012-2013 by an International Business Magazine, the Foreign Direct Investment (FDI) Magazine, published by the Financial Times Business Group of London, citing its potentials as a world-class economic haven. With this recognition, more foreign and local investors are expected to relocate or set up their business in the sprawling freeport zone in Pampanga.

First quarter data from the Clark Development Corporation, the administrator of the 4,500-hectare Freeport, showed that there are today more than 533 locators at the Clark Freeport Zone, employing at least 65,000 workers. A subsidiary, Clark International Airport Corporation, runs the international airport, which has been ranked third in FDI Magazine’s top five best Freeport airport in the world for 2012-2013.

The FDI Magazine ranked the Clark Freeport Zone Number 8 in a survey of 600 zones in 120 countries.

The FDI Magazine has a readership of 47,000 senior decision-makers involved in overseas investment around the world. The magazine had previously cited Clark Freeport Zone in 2010, ranking it as 7th in the top 10 Best Economic Potential among the Global Free Zones of the Future for 2010-2011.

The former United States Air Base was transformed into an economic zone when US military personnel left in 1991. After a cleanup and airfield upgrading, Clark Air Base was opened to investors and businessmen who set up factories and offices. Today, Clark is a business and industry center, as well as entertainment and leisure center in Central Luzon. On March  20, 2007, it was named Clark Freeport Philippines, pursuant to Senate Bill 2260, entitling investors to the same tax-free and other duty-free privileges enjoyed by their counterparts at the Subic Bay Freeport.

We greet the Clark Development Corporation led by Chairman and Officer-In-Charge Retired General Eduardo S.L. Oban Jr., Executive Vice President and Chief Operating Officer Philip Jose B. Panlilio, Vice President for Business Development Ernesto S. Gorospe, Vice President for Corporate Services Pepito M. Galang, Vice President for Operations Franco Alejo L. Madlangbayan, other Officers and Personnel. CONGRATULATIONS AND MABUHAY!

...the US top Chefs

Pinay one of top 10 pastry chefs in US

 

ABS-CBNnews.com

06/07/2012

 

 

US-based Filipina pastry chef Sally Camacho. Photo from "Top Chef Just Desserts" website.

MANILA, Philippines – A Los Angeles-based Filipina is one of the best pastry chefs in the United States, according to a magazine.

Dessert Professional Magazine included Sally Camacho, a runner-up in season 2 of the hit reality cooking show “Top Chef: Just Desserts,” in its list of the top 10 pastry chefs in the US.

The nine other chefs include: Craig Harzewski of Chicago, Sandro Micheli of New York, Marc Aumont of New York, Christina Tosi of New York, Angela Pinkerton of New York, Damien Herrgot of New York, Nathaniel Reid of Florida, Jean Marie Auboine of Las Vegas and Chris Hanmer of Las Vegas, the man who beat Camacho on the TV show.

Born in Clark Air Force Base in the Philippines, Camacho works as a pastry chef in Wolfgang Puck’s WP24.

She recently went to Madrid, Spain to represent the United States in Valrhona’s Madrid Fusion Pastry Competition.

Last year, she won the Valrhona C3 Competition in France. She and her pastry team also bagged gold medals at the Culinary Olympics in Germany in 2008.

‘Top Chef’ experience

Early this year, Camacho admitted that she was disappointed when she failed to win the title of “Top Chef” on season two of “Top Chef: Just Desserts.”




“I thought I was going to win it,” Camacho told ABS-CBN News. “I came into the competition wanting to win. You don’t go there to show up. You go there to win.”

Despite the loss, Camacho said that being on the show was a great experience.

---

...the transformation

'The Best Is Yet To Come'

Aquino Parades Government Gains

By JC BELLO RUIZ

March 17, 2012

Manila Bulletin

“...we are on the threshold of transforming this country, our society, and the lives of our people." - Pres. Benigno Aquino III

MANILA, Philippines — Citing the big gains in the Philippine economy, particularly the record jump in the stock market, President Benigno S. Aquino III proclaimed that “we are on the threshold of transforming this country, our society, and the lives of our people."

Speaking during the 20th anniversary of the Anvil Business Club at a hotel in Makati City last Friday, the President confidently predicted that the best is yet to come for the country.

Earlier in the day the Philippine Stock Exchange index hit 5,145.89 points, a new high.

"Who could have imagined, two years ago, that our stock market would set record highs 21 times in as many months in office by this administration? Just Saturday, it closed at 5,145.89. I would like it to grow bigger, with more record highs than my months in service. And I think that is very possible," Aquino said.

With greater cooperation between government and the private sector, Aquino expressed belief that the best is yet to come for the country.

"We are on the road to becoming one of the world’s more successful economies: HSBC (Hong Kong and Shanghai Banking Corporation) recently predicted that by the year 2050 we will be the 16th largest economy in the world. Of course this is still a long way off, but two years ago, how many people imagined that we would be receiving such distinctions?," he said.

"How many people thought that when agencies like the Japanese JETRO agency surveyed Japanese firms in Asia and Oceania, that their conclusions would say that we have significant advantages, as far as cost of doing business, the supply and quality of labor, and employee salaries, compared to other countries in the region? Making us, in fact, the number one business destination in Asia, whether in the manufacturing or service sectors," the President stressed.

At the same time, the President also asked for greater cooperation between management and labor.

"This is just the start. Management has the vision and the resources; workers have the wherewithal to use those resources and make that vision a reality. Imagine what heights we can soar to, if management and labor can propel each other upward by truly working together," Aquino said.

"We can, and we have already been doing it. The challenge before us is to accelerate this transformation further. Together, it will be done," Aquino said.

The President also said he hopes to attract 10 million tourists to the Philippines annually by 2016 as he revealed a proposal to reserve 78 new ecotourism sites.

“There are about 14 million tourists who visit Thailand, about 22-24 million visit Malaysia. In comparison when we got it to office there was only three million that visit the Philippines, so therefore this is an experience that has yet to be experienced by a lot more of the citizens of the world," he said during the forum following his speech.

Aquino underscored the importance of upgrading the country's airports.

"Once the upgrades in the airports, in particular, have been achieved, and we have approved upgrades to Kalibo, Caticlan, Puerto Princesa, Laguindingan in Cagayan de Oro, and others, and of course, Clark will not be left behind. Then this will make travel easier," he said.

Aquino, who is barely two years in office, said he feels he is already on his fourth year. The President's term will end at noon of June 30, 2016.

His consolation is that at least his administration is "a little quieter" than that of his late mother, former President Corazon Aquino, who had to fend several coup d'etats.

"Well, for one thing I had not to content with nine coup d’etats so it’s a little quieter. The other thing is of course, I think, I did say in my speech that I’m standing on the shoulders of those that came before us. So I was not thrust into it and expected---you know, it’s like being thrust into deep end of the pool. At least I was wading in the shallow end of the pool during my mother’s term that gave me some ideas of what to expect when I got here," Aquino said.

He said there are a lot of "good news" about the Philippines' economic gains though they are hardly reported in the local media.

...the transparent government

Transparency drive lauded by investors

By MAR T. SUPNAD

August 18, 2011

Manila Bulletin

MARIVELES, Bataan, Philippines — President Benigno S. Aquino III’s clampdown on graft and corruption earned a positive review from foreign investors, among them executives of a Hong Kong-based garments firm who noticed an “improvement” in government transactions in this industrial town.

Luen Thai President Raymond Tan said Thursday that the government’s campaign against corruption has improved a lot and this is the reason why his firm signed a Memorandum of Understanding with the Freeport Area of Bataan (FAB) for the setting up of a manufacturing plant here.

Tan did not pinpoint which particular agency of government he was referring to about corruption but newsmen gathered that there was a previous incident allegedly involving certain representatives of the Board of Investments (BoI) that hindered foreign investments.

Luen Thai’s project in this town will add to its other branches in Clark, Tarlac and Cebu, employing around 12,000 workers for its export-quality apparel brands like Polo Ralph Lauren, Carhartt, Dillard’s and Levi’s, among others.

...the foresight

The economic picture looks good

By BETH DAY ROMULO

May 31, 2011

Manila Bulletin

MANILA, Philippines — The latest ratings released by Standard & Poor’s international rating service views the Philippines economic outlook as “stable.” Better yet, the World Bank has listed the Philippines as one of the countries worldwide with the “highest growth potential.”
 
 

And the fact that the Philippines is no longer listed by the OECD (Organization for Economic Cooperation and Development) as a country that offers safe haven for tax evaders and money launders encourages foreign investment.


The most active sites for foreign of investment have been the former US military bases at Clark and Subic Bay.


The former Clark Air Force Base is the home to the US chipmaker Texas Instruments which set up shop there in 2009, and Korea’s Samsung Industries which came in last year. The Japanese tire maker Yokohama which has been at Clark since 1996 has announced plans for expansion this year.


At Subic Bay, South Korea’s giant Hanjin Heavy Industries has built one of the largest shipyards in the world and already delivered 20 ships since it came in five years ago.


The port at Subic is now second only to Manila in volume of cargo, and revenue collections hit two billion pesos in the first quarter of this year. The Subic Bay Freeport has become a bustling hub for regional budget airlines and cargo ships. It is also developing as a tourist attraction with its sandy beaches and rainforests.


The Asian Development Bank recently released a report on the roll-on-roll-off (RoRo) projects introduced during the Arroyo administration which have provided local employment at ports throughout the country and also stimulated the economy through the “nautical highway” which connects the major islands of the archipelago.


In the Metro Manila area, the business process outsourcing firm Accenture has opened a new 9-floor facility at Global One Center in Quezon City, and expects to add another 5,000 employees to its work force.


Last year, the Foreign Joint Chambers of Commerce listed seven potential areas of investment in the Philippines: Agriculture, business process outsourcing (BPO), creative industries, manufacturing, infrastructure, mining, and tourism. Of the seven, five are doing well, but two – mining and agriculture – received no fresh investments last year. This year, there has been some activity in the mining sector but agricultural businesses still fail to attract investment.


In an attempt to rectify this situation, the Department of Agriculture (DA) decided to conduct a census of food producers and fishermen in 80 provinces to determine this sector’s “gaps and vulnerabilities.” This is the first time such a study has been made.
 

Currently, the census taking, which is being conducted by DA regional officers who interview farmers and fishermean, has finished the Southern Luzon area and is now working in Quezon province. The national survey is expected to be completed by 2014 and will provide a database which will give a detailed picture of what policies proved effective and what needs yet to be done to improve production.