Category: Business Mirror

THE Department of Agriculture (DA) at an international forum pitched the Philippines’z $108.88 million agrifood investment portfolio focused on mango, abaca, seaweeds, and bamboo.

At the recent 2025 Hand-in-Hand Investment Forum held during the World Food Forum (WFF) at the Food and Agriculture Organization (FAO) Headquarters in Rome, Italy, Assistant Agriculture Secretary Arnel de Mesa said the plan could benefit over 35,000 rural stakeholders.

He said the initiative also projects a Net Present Value (NPV) of $131.9 million with an Internal Rate of Return (IRR) of 34.39 percent, while aiming to sequester over 280,000 metric tons (MT) of carbon dioxide equivalent emissions, supporting national climate goals.

In a statement, the DA explained that the seaweed farming initiative builds on the country’s global dominance in carrageenan production by using the multiple raft method to boost yields and enhance seed quality.

With 73,467 hectares of untapped areas, the agency said seaweed farming has the potential to raise farmer incomes by up to 60 percent.

For the mango processing proposal, the DA noted that it seeks to modernize the country’s value chain through investments in post-harvest treatment, cold storage, and value-added products such as frozen mangoes, purees, and pickles.

The sector produced 763,298 MT in 2024, with Guimaras mangoes holding a Geographical Indication (GI) seal. The project is expected to yield an IRR of 39.58 percent and an NPV of $83.4 million, the DA said.

Meanwhile, the agency said the abaca project responds to a global supply gap of 25,000 MT. The Philippines currently supplies over 85 percent of the world’s abaca fiber.

As such, the investment would establish modern processing centers, rehabilitate farmland, and support 300 farmers, with a projected IRR of 28.36 percent and a 50 percent income increase for beneficiaries.

The DA said the bamboo plantation initiative targets the $72.1 billion global market for sustainable materials. With 1.5 million hectares identified as suitable for cultivation, the project focuses on five key regions and is expected to generate an IRR of 33 percent.

Agriculture Secretary Francisco Tiu Laurel Jr. then emphasized that these initiatives are aligned with the Philippine Development Plan 2023-2028 and the Masaganang Bagong Pilipinas Agenda.

He also stressed the government’s push for mechanization, digitalization, and strong public-private partnerships to ensure a stable, investor-friendly environment.

In Rome, the Philippine delegation also held bilateral meetings with the FAO Director General Qu Dongyu, investors and development partners to foster collaboration in agribusiness, climate-smart technology, and value chain innovation.

The DA said the Philippines concluded its participation by reaffirming its readiness to collaborate with investors, governments, and development institutions in driving sustainable and inclusive agribusiness growth.

The Philippines is one of the 34 founding member nations of FAO in 1945 and an FAO office in the country was established in 1978.

Krista Gem M. Santos, Deputy Executive Director IV of the Office for Alternative Dispute Resolution; Dranyl Jared P. Amoroso, Senior Vice President for Advocacies of the Philippine Institute of Arbitrators Inc.; and Raoul C. Creencia, President of the Rotary Club of Manila, present the Provision of Barangay Justice award to the Lupong Tagapamayapa of Barangay Baan KM 3, Butuan City, represented by Punong Barangay Gemma P. Tabada, during the Leaders Excelling in Dispute Resolution and Peacemaking (LEAP) Awards held at the Manila Hotel.

The annual recognition program honors exemplary practices in dispute resolution and peacemaking.

THE country’s balance of payments (BOP) posted a surplus in September, as modest inflows from the Bangko Sentral ng Pilipinas’s (BSP) income abroad and the national government’s foreign currency deposits narrowed the year-to-date deficit.

Latest data released by the BSP showed the BOP, which accounts for the transactions of the country with the rest of the world, recorded a surplus of $82 million in September 2025.

This amount is lower than the $3.5 billion surplus posted in September 2024 and $359 million in August 2025.

The surplus trimmed the year-to-date deficit to $5.3 billion as of end-September, from $5.4 billion in end-August.

According to the central bank, the surplus reflected the BSP’s net income from its investments abroad and the national government’s net foreign currency deposits with the BSP.

‘Preliminary data indicate that the year-to-date BOP deficit was largely due to the continued trade in goods deficit,’ the BSP said, citing data from the Philippine Statistics Authority’s (PSA) International Merchandise Trade Statistics.

This was partly offset by the sustained net inflows from personal remittances from overseas Filipinos, trade in services, foreign direct and portfolio investments and foreign borrowings by the national government, the BSP added.

The trade deficit for January to August 2025 settled at $32.4 billion, down from the $34.3 billion deficit posted in January to August 2024, according to PSA.

According to Michael L. Ricafort, chief economist at Rizal Commercial Banking Corporation, the local political noise led to some market volatility and may have affected capital flows.

The so-called ‘Trump risk premium’-or the global market volatility linked to US trade and fiscal policies-continued to weigh on investor sentiment, Ricafort added.

Moreover, the BOP position aligned with the growth in the country’s gross international reserves (GIR), which rose to $109.1 billion as of end-September 2025 from $107.1 billion as of end-August 2025.

GIR comprises foreign-denominated securities, foreign exchange and other assets, including gold, helping the country finance its imports and foreign debt obligations, stabilize its currency and provide a buffer against external economic shocks.

The BSP said the current reserve level remains adequate, equivalent to 7.3 months’ worth of imports and payments for services and primary income.

‘Specifically, the latest GIR level ensures availability of foreign exchange to meet balance of payments financing needs, such as for payment of imports and debt service, in extreme conditions when there are no export earnings or foreign loans,’ the BSP noted.

Further, the GIR covers about 3.8 times the country’s short-term external debt based on residual maturity.

The BSP explained that short-term debt based on residual maturity refers to outstanding external debt with original maturity of one year or less, plus principal payments on medium- and long-term loans of the public and private sectors falling due within the next 12 months.

‘The smaller BOP surplus reflects fewer one-off inflows and a still-wide trade gap, but the external position remains manageable with steady remittances, strong services exports and solid reserves,’ SM Investments Corp. Chief Economist Robert Dan Roces said.

Roces said investment inflows may resume and boost liquidity and credit conditions as global rates ease and regional demand recovers. This should benefit firms with deep local roots and diverse sources of growth, he added.

Surplus to be sustained in Q4-Taningco

Meanwhile, Security Bank Chief Economist Angelo Taningco said the BOP surplus in September was likely supported by net receipts in services trade, overseas remittances and net foreign equity investments, which together overshadowed trade-in-goods deficit and net foreign bond outflows.

‘For the last three months of the year, we expect BOP surplus to be maintained with our full-year BOP deficit forecast pegged at $4.5 billion,’ Taningco added.

In the coming months, Ricafort noted that although oil prices have declined and the peso has steadied, higher import demand toward year-end may widen the trade deficit and weigh on the country’s BOP.

‘Further/sustained growth in the country’s structural US dollar inflows would lead to better data for BOP,’ Ricafort added.

The Energy Regulatory Commission (ERC) said it made three improvements on the public offering rule (POR) guidelines to make it easier for power generation companies (gencos) and electric distributors to offer shares of ownership to the public.

The amended guidelines, approved last October 16, streamline the process for these companies to comply with the POR, which mandates these power firms to sell to the public at least 15 percent of their common shares not later than five years from the issuance of their certificate of compliance (COC). The POR is a key requirement of the Electric Power Industry Reform Act (Epira).

The ERC said the rules now provide a clearer definition of a ‘holding company,’ eliminating previous confusion about which parent companies were affected. Also, companies are now given a longer and more practical period to prepare for and complete their public offering, acknowledging that the process takes significant time and planning.

Lastly, the ERC said requirements have been synchronized with the current listing standards of the Philippine Stock Exchange (PSE). This ensures energy companies follow a single, consistent set of rules when they go public.

The agency said these changes are helpful for small and medium-sized power producers and utilities who may have found the previous rules challenging. By making the process more manageable, the ERC encourages broader compliance and avoids having to excuse their non-compliance through the repeated issuance of provisional authority to operate (PAO), rather than the regular COC.

ERC Chairperson and CEO Francis Saturnino C. Juan said this is a win for rationality and public participation in the energy sector.

‘The start of the 5-year period is when a generator or distribution utility already has, is in possession of, the minimum requirements for listing with the PSE. Because right now, if we don’t do that, if we count the five years just from the issuance of the COC to it, the small generation companies are discriminated because the big ones, they can immediately comply with the requirement just by listing with the PSE.

But what about the smaller generators that they won’t list even if they want to because their capitalization is not at P500 million. Their income for the past three years has not reached P15 million. Or their stockholders do not exceed 1,000. So, they still can’t list with the PSE,’ Juan said during a news briefing.

The ERC said ‘indiscriminately enforcing the POR on all companies will not only defeat section 43 (t) objectives, but will also be anti-competitive, as it will impose additional barriers to entry; benefit a handful of generators, but discriminate the others; and increase electricity costs without commensurate economic benefits.’

Earlier, the agency said 54 percent or 136 of the 251 gencos in the country have yet to comply with the POR. These energy firms have a combined capacity of about 13,745 megawatts.

The Department of Agrarian Reform (DAR) is set to distribute land titles and certificates of condonation to a total of 5,788 agrarian reform beneficiaries from across Northern Mindanao.

The distribution of Emancipation Patents (EPs), Certificates of Land Ownership Award (CLOAs), electronic titles (E-titles), and Certificates of Condonation and Release of Mortgage (CoCRoMs) coincides with a Stakeholders’ Forum at The Atrium, Limketkai Center, Cagayan de Oro City on Wednesday, October 22.

DAR Secretary Conrado M. Estrella III, together with key officials from the agency, will lead the distribution as part of the department’s ongoing efforts to empower farmers through land ownership and financial freedom.

The land titles cover a total of 6,235.23 hectares of agricultural land.

The DAR said it marks another milestone in the agency’s commitment to strengthening land tenure security and uplifting the lives of Filipino farmers. In addition, 1,026 ARBs will be freed from a combined P61.26 million in unpaid land amortizations through the issuance of CoCRoMs, covering 1,446.07 hectares-giving them a fresh start to cultivate their lands without debt burdens.

Provincial breakdown

Bukidnon: 3,863 ARBs | 3,558.97 hectares

Camiguin: 158 ARBs | 79.94 hectares

Lanao del Norte: 263 ARBs | 534.20 hectares

Misamis Occidental: 686 ARBs | 646.60 hectares

Misamis Oriental: 818 ARBs | 1,415.53 hectares

Title distribution

Regular EPs/CLOAs: 211 ARBs | 268.42 hectares

E-Titles (Project SPLIT): 4,551 ARBs | 4,520.74 hectares

CoCROMs (Debt Condonation): 1,026 ARBs | 1,446.07 hectares | P61.26 million condoned

This initiative forms part of DAR’s ongoing efforts to ensure that farmers gain full ownership of the lands they till and are liberated from long-standing financial obligations. It also supports the implementation of the Support to Parcelization of Lands for Individual Titling (SPLIT) Project, funded by the World Bank, and Republic Act No. 11953 or the New Agrarian Emancipation Act.

In a statement, Estrella said the event reaffirms the Marcos administration’s dedication to rural development and genuine agrarian justice.

‘This administration remains steadfast in its promise to uphold genuine agrarian reform. These titles and debt condonation measures are clear proof that the government stands with our farmers in building a better future for the countryside,’ Estrella said.

THE Philippines and Japan further cemented their partnership in the energy sector with the signing of a Memorandum of Cooperation (MoC) between the Department of Energy (DOE) and Japan’s Ministry of Economy, Trade, and Industry (Meti) that seeks to enhance energy resilience and security.

Among others, the MoC will promote the exchange of technological expertise and best practices from Japan to the Philippines, encouraging clean-energy investment and support skills development in emerging energy industries, driving economic transformation and enhancing competitiveness in both nations.

Ultimately, this partnership not only addresses critical energy and environmental challenges but also deepens bilateral relations, fostering mutual trust and cooperation.

The MoC was signed last October 17 at the sidelines of the 3rd Asia Zero Emission Community (Azec) Ministerial Meeting, immediately following the conclusion of the 43rd Association of Southeast Asian Nations (Asean) Ministers on Energy Meeting and its associated meetings in Kuala Lumpur, by Energy Secretary Sharon Garin and Japanese Minister Muto Yoji.

The partnership will encompass capacity building, knowledge exchange, collaborative pilot projects, and policy dialogue, covering key areas such as renewable energy, grid integration, energy storage, hydrogen, ammonia, liquefied natural gas (LNG), and carbon capture, utilization, and storage (CCUS).

The Agency for Natural Resources and Energy (Anre) for Japan and the Energy Policy and Planning Bureau (EPPB) for the Philippines will serve as the primary focal points for implementation. The cooperation will commence immediately and continue for four years, subject to extension by mutual consent.

‘This partnership with Japan is a long-term investment in a sustainable future,’ said Garin. ‘It reflects our unwavering commitment to addressing climate change and building a resilient energy sector that will power our economies for decades to come. This is not just about reducing emissions; it’s about creating jobs, fostering innovation, and improving the quality of life for our citizens. A sustainable energy sector is a foundation for a thriving economy and a healthy society.’

The MoC aligns with the Azec principles, emphasizing the need for diverse energy options and tailored transition pathways for each country.

Azec, a regional initiative promoting cooperation towards achieving net-zero emissions in Asia, recognizes that diverse pathways are necessary to achieve carbon neutrality based on each country’s unique circumstances. This partnership directly contributes to Azex’s vision by fostering collaboration and innovation to accelerate the energy transition in both the Philippines and Japan.

A DEPUTY Minority Leader of the House of Representatives on Tuesday urged the administration to take serious and concrete action to ensure justice for victims of violence against journalists and media workers.

House Deputy Minority Leader Leila M. de Lima, in a statement, strongly condemned the shooting of broadcaster Noel Bellen Samar in Guinobatan, Albay, describing it as another grim reminder of the persistent dangers faced by journalists in the country.

The condemnation also came as Aliw Broadcasting Corporation, operator of dwIZ, denounced the ambush that wounded Samar, one of its block-timers, on Monday in barangay Morera, Guinobatan.

‘We strongly condemn the shooting of broadcaster Noel Bellen Samar yesterday in Guinobatan, Albay. We pray for his immediate recovery and call on the Philippine National Police to ensure his safety,’ De Lima, the nominee to the House of the party-list group Mamamayang Liberal, said.

The lawmaker lamented that the attack was a reflection of the worsening culture of impunity and hostility against the media.

‘This incident is yet another proof of why the Philippines remains one of the most dangerous countries in the world for journalists,’ she said. ‘It’s as if we’ve become used to hearing news about journalists being killed. As if it’s normal to red-tag or harass those who expose the truth. As if it’s acceptable that justice is so elusive, because until now, many perpetrators remain unidentified and many cases of media killings unresolved.’

De Lima warned that such attacks, along with the continued harassment and red-tagging of media workers, have a ‘chilling effect on the Fourth Estate’-a key institution in any democracy.

‘This impunity must end. The Marcos Jr. administration must take serious and concrete steps to bring justice to the victims of violence against journalists and media personnel. The State should provide adequate protection for this noble profession,’ she added.

MANAMA-Let the kids enjoy the game.

As the Asian Youth Games officially opens at the Exhibition World Bahrain in Sakhir on Wednesday, Philippine Olympic Committee president Abraham ‘Bambol’ Tolentino emphasized the importance of striking a balance between competitive drive and athlete well-being.

Tolentino, overseeing the Philippines’ participation in the continental youth sports conclave for the first time, called for mindful restraint in pushing young Filipino athletes, cautioning against the risks of injury, burnout and overextension.

The POC chief thanked pesilat Kram Airam Carpio for delivering gold for the country, boosting the national delegation’s morale and perhaps lifting some pressure off the 141-strong Philippine delegation.

‘Safety is still our top priority. These are young people, not hardened veterans,’ Tolentino said.

After clinching the gold in the girls’ 51-55 kg division of Pencak Silat with a 33-19 victory over Indonesia’s Qiken Dwi Tata Olifia late Monday, Carpio called on fans to rally behind the rest of the Philippine delegation in the 45-nation sports conclave.

‘Thank you so much for your support. I hope our Filipino fans will continue to cheer for the entire team,’ Carpio said. ‘We’re here to represent the Philippines, and together we can make the country proud.’

The Philippines has entries in volleyball, teqball, golf, triathlon, mixed martial arts, taekwondo, muay, athletics, boxing, cycling, weightlifting, table tennis, badminton, wrestling, swimming, jiujitsu and kurash.

The major youth sporting spectacle features over 4,300 athletes competing across 253 events in 24 sports.

Tolentino is convinced the Philippines will be able to surpass its performance in the 2013 Nanjing Games, the last Asian Youth Games before a long hiatus, where taekwondo jin Pauline Lopez and golfer Mia Legaspi delivered the gold.

‘Our morale is so high. Definitely, this will be far different from the previous one, in 2013, when we had two gold medals. With this opening salvo, we will probably surpass that,’ Tolentino said, adding that the team should be able to reach its potential through teamwork.

‘The spirit is different this time, we’re focusing on collaboration with the Philippine Sports Commission and all the delegates,’ he said.

Carpio, who had dominant wins over Iran’s Nazninfatemeh Kolasangiani in the Round of 16, India’s Sakshi in the quarterfinals and Aliyam Azizova of Kazakhstan in the semifinals, admitted some nerves entering the gold medal match.

‘I knew I had a chance, I kind of expected to win. But then again, it’s a crowded field, a lot of nations competing so there’s also a chance of not making it to the top,’ said Carpio.

‘I felt a little nervous before the final match, we were facing Indonesia, the birthplace of the of the sport,’ Carpio said.

‘But when the match started, I just focused on what I needed to do to finish the job and deliver for the Philippines.’

‘It has always been my dream to compete for the Philippines and I will work harder to be able to perform even better in future events,’ said Carpio.

INTERNATIONAL financial leaders must place decent work and social justice at the heart of their policy agendas to face current geopolitical tensions and trade disruptions that threaten economic development, the director-general of the International Labour Organization (ILO) said.

ILO Director-General Gilbert F. Houngbo said on Tuesday that policies on decent work, including minimum wage systems, collective bargaining agreement and social protection, are central to creating strong labor institutions that would aid in confronting current uncertainties in the global economy.

‘As uncertainty in the global economy persists with shifting geopolitical tensions and trade disruptions, the importance of building institutions that foster decent work for all could hardly be more critical,’ Houngbo said in a statement.

The ILO chief said that while inequality among countries has narrowed since the early 2000s and more than half of the global population now benefits from social protection, enduring structural issues continue to put these advances at risk.

According to ILO, global employment is expected to grow at only 1.5 percent this year, along with just 53 million new jobs created, lower than the earlier projection of 60 million.

ILO added that about 84 million workers, mostly in Asia and the Pacific, remain highly vulnerable amid ongoing trade uncertainty while informal work continues to dominate, accounting for 58 percent of the global labor force in 2024.

The ILO chief also pointed out that although global output per worker rose by 17.9 percent between 2014 and 2024, the share of labor income fell from 53 percent to 52.4 percent.

‘These trends underscore ongoing challenges in translating economic growth into formal economy and decent employment opportunities,’ said Houngbo.

Houngbo called for a renewed social contract anchored in inclusive dialogue and people-centered policies, saying that the real challenge lies not in choosing between economic growth and social progress but in aligning them through coordinated action.

‘The real challenge is not an inherent conflict between economic and social objectives, but rather the need to take coordinated action that transforms this potential dilemma into a dynamic, mutually reinforcing synergy.’

Houngbo also warned of the disruptive potential of generative artificial intelligence (AI), noting that nearly one in four workers could see their jobs significantly transformed, with women standing to be disproportionately affected.

He said that whether AI adoption results in job displacement or complementarity will depend on how technology is integrated, the decisions made by management and the strength of social dialogue between employers and workers.

A TOTAL of 69,686 families or 244,689 persons were affected by heavy rains induced by Tropical Storm Ramil, flooding many areas in Luzon and the Visayas, the National Disaster Risk Reduction and Management Council (NDRRMC) reported.

In its 6:00 a.m. Situation Report on Tuesday, the NDRRMC said Ramil has left seven persons dead, one injured, and two missing.

The agency reported that 28,506 persons from the Cagayan Valley, Central Luzon, Southern Tagalog, Bicol, Western Visayas, and Eastern Visayas, including Metro Manila, were pre-emptively evacuated at the height of the storm, the 18th severe weather disturbance to hit the country.

Across the five regions, 66 seaports were affected, stranding 3,433 passengers, 1093 rolling cargoes, and six vessels, the NDRRMC said.

Heavy rains and floods affected a total of 629 barangays in 63 citiesand towns in 13 provinces in Luzon and the Visayas, the NDRRMC said. The NDRRMC said a total of 48 areas were submerged by floodwater, damaging 94 houses.

Central Visayas and Eastern Visayas experienced floods, which turned roads into raging rivers at the height of the storm.

The Office of the Civil Defense said Capiz and parts of Iloilo and Aklan were severely affected.

In Capiz, some towns, including Roxas City’s main roads, were inundated. At least 30 barangays also experienced knee or waist-deep flood in the last two days. Local officials of Roxas have declared the city under a state of calamity.