Lucelle G.

Fortades

BSA-3B

Foreign investors hesitant amid extrajudicial killings

By Patricia Lourdes Viray (philstar.com)
MANILA, Philippines Foreign investors have become hesitant to invest in the Philippines because of a
spate of extrajudicial killings and summary executions of alleged drug peddlers in the country, a European
businessman said. European Chamber of Commerce of the Philippines (ECCP) President Guenter Taus
admitted that the foreign business sector from Europe, the United States and Canada are wary of the
recent developments in the country as a new administration takes office. "We do feel there is hesitation
there," Taus said in a roundtable discussion organized by the Delegation of the European Union to the
Philippines at Far Eastern University in Makati City. Taus noted that the ECCP is following developments
on the 91 cases filed before the Commission on Human Rights in connection to the drug-related killings.
Meanwhile, European Union (EU) Ambassador Franz Jessen said that the union is on "wait and see"
mode on the developments of the issue. "We are not passing judgment at this point in time. We will wait
and see," Jessen said during the roundtable discussion. President Rodrigo Duterte has said that the
deaths, which he said were done by criminals, should not be attributed to the government. He has also
reminded security forces that killing suspects can only be done when their lives are in danger. He also
told them, however, that the government will protect them from cases as long as they are doing their jobs
properly. Jessen noted that the EU is encouraged by the progress of the peace process in Mindanao but
remains skeptical about other developments in the country. He did not elaborate. The government has
been pushing for a resumption of peace talks with the Communist Party of the Philippines-New People's
Army-National Democratic Front. It has also been moving forward on existing peace agreements with the
Moro National Liberation Front and the Moro Islamic Liberation Front, which have agreed to work on a
common road map for peace in the southern Philippines. The EU Delegation of the Philippines earlier met
with Trade Secretary Ramon Lopez to discuss how they can work together. The Philippines and the EU
are looking forward to a stronger free trade agreement under the administration of President Rodrigo
Duterte.

Lenjoemae F. Suazo BSA-3B

Duterte urges foreign businesses to invest in Philippines MANILA, Philippines President Duterte is encouraging other countries to invest in the Philippines assuring
them they will not be victimized by corruption and other unacceptable practices. Duterte
said he was serious in his campaign to curb corruption, which he once described as
endemic in the country. Do not be afraid to invest in Philippines, whether by
assistance or business investment. Come here. There will be no hany panky, no asking
for tips, the President said during the 115th anniversary of the police service in Camp
Crame, Quezon City. Duterte said investors who have concerns can call him and he
would to personally attend to their issues. Ill do the processing myself for you. Ill give
you the paper with you just sitting down, he added. Duterte also issued a stern warning
against those who would try to lobby or influence him. Business ( Article MRec ),
pagematch: 1, sectionmatch: 1 Even a whisper, do not think about it. Because even
that will get you into trouble. That is how serious I am, Duterte said. The chief executive
also thanked donors that have provided assistance to the Philippines like China, Japan,
Thailand, Taipei and Canada.

Carlo G. Lamberte

BSA-3B

PH may import 1M tons of rice as buffer vs La Nia

DAVAO CITYTo prepare for the impact of the La Nia phenomenon on this years
crop season, the government is planning to import one million metric tons (MT) of rice
for its future stockpile. Socioeconomic Planning Secretary Ernesto M. Pernia told
reporters the countrys rice stocks for this year were still sufficient, but now would be a
good time to import in order to cover the projected deficiency in 2017. He said the
country must also take advantage of prevailing affordable global prices. The
government announced early this month it was buying 500,000 MT for next years
needs. Pernia, who is the director-general of state planning agency National Economic
and Development Authority (Neda), said the stocks would be purchased on a
government-to-government basis and would be imported in two tranches. The first
tranche was scheduled to come in in the next few months, Pernia said. The government
has yet to announce the schedule for importing the second tranche. The other 500,000
MT to be imported also at a later date would really secure domestic rice supply for
next year, the Neda chief added. Pernia said this plan was put forward during the
August 2 meeting of the Cabinets economic cluster. Neda deputy director-general
Rosemarie G. Edillon said the government was expecting a mild case of La Nia, with
a 50-60 percent probability of it occurring in the second half of this year. To prepare for
the weather situation expected to intensify between August and October, Pernia said the
Department of Agriculture (DA) was already crafting an action plan that identifies the
most vulnerable municipalities, focusing on appropriate interventions, preparedness,
response, immediate recovery and rehabilitation. Agriculture Secretary Emmanuel F.
Piol earlier said the government was moving its target date for self-sufficiency in rice
production to 2019. He had said the DA would be needing P64 billion to achieve the
goal.