13 September 2015

APEC News Release

President Aquino visits IloIlo City on Monday
President Aquino embarks on another provincial trip to begin his activities this week with a visit to Iloilo City on Monday to grace the inauguration of new establishments there.

The President will lead the ceremonial launch of Megaworld Corporation’s Iloilo Business Park, as well as the inauguration of Richmonde Hotel and the Iloilo Convention Center (ICC), an official media advisory stated.

The Iloilo Business Park is a 72-hectare township envisioned by Megaworld to be ‘the next central business district’ in Iloilo City with the 12-storey Richmonde Hotel and ICC serving as its initial developments.

The company has invested a total of P35-billion for the development of the entire complex over the next 10 years, according to their official website.

President Aquino will open the highly-anticipated ICC, which is going to be used as one of the venues for some high-level ministerial meetings of the APEC (Asia Pacific Economic Cooperation) Summit.

The ICC is a state-of-the-art convention facility that sits on a 1.7-hectare lot in Iloilo Business Park, Mandurriao, Iloilo City. Its construction began in 2013 with an estimated total project cost of P740-million.

It is two stories high with a floor area of 11,832 square meters that can accommodate over 3,000 guests. Renowned architect William Coscoluella designed the project inspired by Iloilo’s Dinagyang and Paraw festivals. PND (hdc)

Palace reiterates appeal for public cooperation in solving traffic
Malacañang reiterated Sunday its appeal for public cooperation now that we are entering the second week of implementing new mechanisms to resolve traffic congestion in Metro Manila, especially along EDSA.

In an interview over Radyo ng Bayan, Presidential Communications Operations Office Secretary Herminio Coloma, Jr. asked the public to obey traffic rules as enforced by all government agencies concerned.

“Sana po ay makiisa tayo sa mga traffic enforcers ng HPG (Highway Patrol Group), MMDA (Metro Manila Development Authority), LTO (Land Transportation Office), at LTFRB (Land Transportation Franchising and Regulatory Board) sa kanilang pagpapatupad ng batas trapiko,” he said.

During her morning weekend briefing, Saturday, Deputy Presidential Spokesperson Abigail Valte announced new resolutions the MMDA has come up with to further ease traffic in the metropolis.

The MMDA issued a memorandum circular that said provincial buses are no longer allowed to ply underpasses along EDSA and will be confined in the yellow lane effectively immediately.

It has also imposed a ban on trucks beginning September 15 from 6:00 a.m. to 10:00 a.m. and 5:00 p.m. to 10:00 p.m. everyday except Sundays and holidays.

“Mayroon naman itong exemption katulad ng northern truck route where allowable period will still be 24 hours subject to several prohibited dates,” Valte added.

The ban covers all trucks and heavy vehicles, regardless of weight, and shall be strictly observed on EDSA and the business districts of Ortigas, Makati, and Bonifacio Global City.

Cargo trucks loaded with perishable goods and agricultural products, however, are exempted from this resolution per MMDA Resolution No. 08-08 series of 2008.

A fine of P2,000 will be dealt against truck drivers who fail to observe the new resolution and those who will be caught violating the same three times shall be recommended by MMDA for a one-year suspension. PND (hdc)

Government supports Bishop’ call to prove Lumad killings
Malacañang shares the concern of the Catholic Bishops Conference of the Philippines (CBCP) over the killing of three Lumad leaders by alleged paramilitary forces in Lianga, Surigao del Sur.

Speaking over Radyo ng Bayan, Sunday, Communications Secretary Herminio Coloma, Jr. said the Department of Justice (DOJ) is willing to investigate the incident as urged by the CBCP and other groups.

“We note the statement of the CBCP on the killing of Lumads. According to Justice Secretary (Leila) de Lima, the DOJ (Department of Justice) supports the call for an inter-agency probe of the incident,” he said.

“Government continues to ensure the safety of all citizens and that peace and order is maintained,” the Palace official added.

In calling for a probe on the matter, the CBCP in its statement said it is “profoundly disturbed” by accounts that some authorities are “quick to exonerate” the militia group suspected to be behind the killings.

According to reports, Surigao del Sur Governor Johnny Pimentel earlier called on the Armed Forces of the Philippines to disband the paramilitary group Bagani Forces, which is allegedly responsible for the murders.

During an Inquirer multimedia forum last week, President Benigno S. Aquino III stated that “serving the people does not entail killing any of our citizens.”

“There is no campaign to kill anybody in this country. There is a campaign to go after everybody who commits crimes regardless of who they are,” President Aquino said.

“I think we have an adequate track record to show you the successes of people who have long been wanted that have already been apprehended and the process still continues,” he added. PND (hdc)

Asia, Ph continue to be driver of global growth – IMF
LAPU-LAPU CITY, Cebu – Asia, including the Philippines, would continue to be the driver of global growth, consistent with past International Monetary Fund (IMF) projections for a region of largely emerging economies.

“This region has the strength in terms of the interconnectedness,” IMF Deputy Managing Director Mitsuhiro Furusawa said in a press briefing on the sidelines of an Asia-Pacific Economic Cooperation (APEC) event held here.

The IMF recently said it sees downside risk to its most recent global growth projections, made in July. Revisions will be announced next month, Furusawa disclosed.

In the case of the Philippines, one of the world’s fastest-growing economies at a rate the IMF currently expects to be more than 6 percent this year, Furusawa and his colleague IMF director Odd Per Brekk both said growth prospects remain robust.

Meanwhile, Brekk noted that long-term prospects for growth in global economies are worsening, Still, conditions in advanced economies, at least, are favorable for a near-term pickup.

“The longer-term prospects in both advanced economies and emerging markets are more subdued than they were a couple years ago,” said Brekk.

He explained that in advanced economies, that reflects a combination of lower investment, unfavorable demographics and lower productivity growth. On the other hand, emerging markets face some of those factors in addition to the economic slowdown in China, for many a key export market, as well as an “adjustment going on in credit of the investment pools” and lower commodity prices.

Still, in the short term, Brekk said IMF sees a “slow pickup taking hold” in advanced economies due to easy financial conditions, less fiscal drag and lower energy prices.

The IMF officials pointed to healthy “fiscal and monetary space,” with a current account surplus and a reasonable level of foreign exchange reserves.

“In general we think it’s quite well-placed to manage the spillovers from global developments,” he said.