President's Message
Atty. Benedicta Du-Baladad Message from the President:

Benedicta Du-Baladad

To FINEX members and friends,

PRESIDENT’S REPORT
June 2017 Issue

The Special Joint Testimonial Luncheon in honor of Bangko Sentral ng Pilipinas Governor Amando M. Tetangco, Jr. on May 24 was a huge success. FINEX, as the lead convenor, together with AMCHAM, CIBI Foundation, ECCP, MAP, MBC and PCCI, honored and celebrated Gov. Tetangco’s 12 years of successful leadership that leads to our country’s monetary stability and economic growth.

***


Read more

2017 Year-Round Corporate Sponsors

PARTNERS :

DIAMOND :

GOLD :

Affiliations
Ads
BOHOL TOURISM RISES TO NEW HEIGHTS
Print PDF
Zoilo By: Zoilo "Bingo" P. Dejaresco III

BUSINESS MIRROR (FINEX Free Enterprise)
July 7, 2017

BOHOL TOURISM RISES TO NEW HEIGHTS

Finex Free Enterprise is a rotating column of members of the Financial Executives Institute of the Philippines appearing every Wednesday & Friday in BusinessMirror, banking & finance Section.

The picturesque province of Bohol in 2013 was almost written off the tourism map as a devastating 7.3 earthquake hit it with vehemence in October.

The city and 12 towns were damaged, over 200 people dead and a thousand injured. Faults crossed the island, some seabeds rose, the iconic chocolate hills slightly damaged and many century- old churches in total or partial ruin.

Three years later, however, the number of Bohol tourists eclipsed the one million mark in 2016, per figures from the Department of Tourism- up 40% from 2015's record of only 602,000 tourists (73 percent local and 26 percent foreign). The province has recovered tremendously- and its growth accelerating.

Consider that by mid-year 2018, the P 7.8_B New Bohol (Panglao) with international standards will open Bohol to the world hoping to add at least 50 percent more tourists to the island -province.

According to Director General of the National Economic Development Authority (NEDA) Ernesto Pernia, the Department of Transportation (implementing agency) and the PPPC (Public-Private Partnership Center) are still in a deep discussion whether the "maintenance and operation" of the airport facilities will be retained under the PPP program or not.

Recent pronouncements seem to indicate that the four other pending regional international airports in Bacolod, Cagayan de Oro City, and Davao will be pulled out of the PPP ambit and be funded under the GAA (General Appropriations Act) or the National Budget and the ODA ( Official Development Assistance) from the JICA (Japan International Cooperation Agency), instead. The 2.5-kilometer runway and the two-storey airport terminal has a capacity to bring in 800,000 visitors per year. It is expected to attract in -as well- international chains of hotel and resorts into the island to serve the new deluge of tourists.

Even before that, last June 23, PAL opened its first daily flight direct and seamless from Incheon Airport in Seoul South Korea to Bohol, guaranteed to bring in more Koreans, the leading visitors to the island paradise. PAL also recently opened its Tagbilaran-Cebu daily flights to complement the over 10 fast craft ferries plying the two islands. PAL president Jaime Bautista foresees that Bohol could become a new tourism hub- bringing the Korean tourists to nearby destinations like Cebu, Negros, and Siquijor. Two months ago, civilian vigilance and cooperation with the military swiftly quelled an attempted ruse by members of the Abu Sayyaf Group to disrupt the consultative meeting in Bohol for the 10-member ASEAN nations. The 12-member terrorist group was all eliminated in about one month.

The Bohol ploy hatched in the town of Inabanga if successfully carried out-would have created a new frontier of violence apart from the Marawi City siege which is still not fully resolved to go into its second month.

The swift resolution of the potential conflict drew praises from both the Operations Group of the Philippine National Police in Camp Crame and the Department of Trade and Industry (DT) for making the ASEAN Meet trouble-free and to the "satisfaction of all the delegates."

The "Bohol template" has been hailed by the military as a model for civilian- military cooperation in handling terrorist threats. Bohol is now, more than ever, a safer destination for all. In fact, the government had even strengthened the (BIN) Barangay Intelligence Network and the Countryside Development Program -Power Purok Movement (CDP-PPM) to install a quick reaction scheme to all suspicious movements of goods and persons in every locality.

Recall that it was the civilian volunteers who first exposed the presence of ASG men with high powered guns near the Inabanga River that exposed the terror group's bad intentions to authorities.

Bohol alongside Boracay and Palawan have been the perennial "first choice" among tourists especially among the Asian tourists like the Chinese, Koreans and the Japanese. Most Asian countries are very familiar with the terrain of the archipelago of 7,000 islands and do not readily issue negative travel advisories against the country unlike the Western nations like the U.K., Canada, the USA, and even Australia.

With the bountiful gifts of nature to the province, Bohol is looking forward to a new blooming of the R and R (rest and recreation) trade with the new points of entry to the province and the great margin of safety it now enjoys after successfully repelling the enemies of the state in no time last month.

( Bingo Dejaresco, a former banker is a financial consultant and media practitioner. A Life Member of Finex, he is the Chair of both the Professional Development and Broadcast Media committees. His views here, however, are personal and do not necessarily reflect those of Finex. This e-mail address is being protected from spambots. You need JavaScript enabled to view it ) .

FEATURED ARTICLES
This Market (still) has Legs
Mr. Ronald S. GosecoBy Ronald S. Goseco

MANILA TIMES (FINEX Files)
July 21, 2017

This Market (still) has Legs

I recently attended the 2017 mid – year outlook of Citi. Their outlook for the reminder of the year is still cautiously optimistic, with the global recovery appearing to be on track despite the rising Chinese economy concerns. As of May, global equities have rallied 10.5 % with Emerging Market equities up 17% on a year to date basis. Bond markets have also posted positive returns of around 4% surprising a lot of investors.

Read more...
A crisis cycle
J. Albert GamboaBy J. Albert Gamboa

BUSINESS WORLD(FINEX Folio)
July 21, 2017

A crisis cycle

Members of the Financial Executives Institute of the Philippines (FINEX) had been excitedly anticipating the general membership meeting last July 19, as the confirmed guest speaker was Defense Secretary Delfin N. Lorenzana.

Read more...
Fringe benefits and the power of content
Ms. Wilma Inventor MirandaMs. Wilma Inventor Miranda

MANILA BULLETIN (Business Option)
July 20, 2017

Fringe benefits and the power of content

When Trump won the elections, I was in the United States last November 2016. We went to a restaurant for dinner after the election results came out and we were discussing how in the world Trump won? There were Filipinos though, who voted for Trump and I knew later there were many of them who voted for him including some Filipinos whom I met on the plane back home.

Read more...
Now and then, a Contrast
By Dr. Conchita L. ManabatBy Dr. Conchita L. Manabat

BUSINESS MIRROR (FINEX Free Enterprise)
July 19, 2017

Now and then, a contrast

When virtue is lost, benevolence appears; when benevolence is lost, light conduct appears; when right conduct is lost, expedience appears. Expediency is the mere shadow of right and truth; it is the beginning of disorder. —Lao Tzu

Read more...
THE RISING THREAT OF CYBER-CRIMINALITY
Zoilo By: Zoilo "Bingo" P. Dejaresco III

MANILA BULLETIN (Business Option)
July 18, 2017

THE RISING THREAT OF CYBER-CRIMINALITY

Even newly-installed Bangko Sentral ng Pilipinas Governor Nestor Espenilla Jr. has pointed at cyber-criminality as one of the major concerns of his new administration. The US$81-M hacking of the Bangladesh sovereign account and the money laundering that ensued here is still -fresh in every one's mind. The recent glitches in the Bank of the Philippine Islands system and the Banco de Oro ATM portfolio, although monetarily harmless to clients are clear signs the banking scene has been altered by technology,.

Read more...
‘1 with the 99’
Flor G. TarrielaBy Flor G. Tarriela

MANILA BULLETIN (Business Option)
July 13, 2017

‘1 with the 99’

“1 with the 99”. What does it mean? asked former finance undersecretary Romy Bernardo.  So, with PNB Vice Chair Rico Alfiler and Romy, we attended the Department of Finance’s (DOF) “1 with the 99” forum last week. The forum aims to inform the public about the Tax Reform for Acceleration and Inclusion Act (TRAIN).

Read more...
Partners