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China again says ‘ready to hasten’ Code of Conduct pact with ASEAN CHINA is once again ready to accelerate the conclusion of an “effective and substantive” Code of Conduct (COC) in the South China Sea, its top diplomat in Manila said. Ambassador Huang Xilian said China and the Association of Southeast
Asian Nations (ASEAN) “are capable and wise enough to maintain peace and stability in the South China Sea.” ASEAN and China have resumed discussions on the long-planned CoC. The three-day dialog, which Next page
VOL. XXXVII • NO. 190 • 6 SECTIONS 24 PAGES • P20 • THURSDAY, AUGUST 24, 2023 • www.manilastandard.net • mst.daydesk@gmail.com
‘Special team’ to push SCS claim
SolGen: Panel plotting legal options to advance arbitral award By Rey E. Requejo
HE Office of the Solicitor General has formed a “special team” to study how to move the country forward with its seven-year-old arbitral victory over China on territorial claims in the South China Sea.
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Solicitor General Menardo Guevarra on Wednesday said the panel is composed of “high-caliber solicitors who have extensive training in international law, international public law, and also in arbitration.” The team was tasked, Guevarra said, “to study the legal options that the Philippine government may take in connection with the victory that we had secured in 2016 from the Permanent Court of Arbitration (PCA) against our neighbor.” “We all know the subsisting problems even after that victory in the arbitration court,” he told lawmakers during a budget hearing in the House of Representatives. Guevarra said the team will also study suggestions to elevate the matter to the United Nations General Assembly (UNGA) and have another arbitration in the PCA. “We are very much aware of the proposal to bring the matter to the UN General Assembly, which is a very political forum, and also a similar proposal to have a second round of arbitration with the Permanent Court of Arbitration,” Guevarra said. “But these are matters that have to be studied very carefully by the Office of the Solicitor General as counsel for the Republic because these may have very, very serious and important implications, so right now we are in the midst
PREPPING FOR WORLD CUP. Workers spruce up the 55,000-seater Philippine Arena in Bocaue, Bulacan
on Wednesday in preparation for the FIBA World Cup opening on Friday. The Philippines will attempt to break FIBA’s gate attendance record of 32,616, when USA beat Russia in the 1994 finals held in Canada as the tournament unfolds on Aug. 25. Fans can watch the games live at the Philippine Arena (Gilas Pilipinas vs Dominican Republic game only on Aug. 25), the Mall of Asia Arena, and the Araneta Coliseum. Those who cannot head to these venues to watch the host team (inset) can instead watch the games on free TV via Cignal satellite TV and PTV4 (delayed basis) channels, or via Pilipinas Live, Cignal Play, and Smart Livestream apps (see related story on Sports, page C1). Joey Razon
Clarkson leads Gilas squad to FIBA tourney US NATIONAL Basketball Association star Jordan Clarkson will lead the 12 men who will represent the host Philippines in the 2023 FIBA World Cup, which starts Friday. Samahang Basketbol ng Pilipinas (SBP) President Al Panlilio confirmed the composition of the Gilas Pilipinas official lineup – a mix of veterans and young players that hope to give the country its best performance in the quadrennial event – on Wednesday. Nearly 70 years ago, the Philippines captured
the bronze medal in the 1954 FIBA event at Rio de Janeiro in Brazil when it was still known as the World Championship. Pundits say Gilas is unlikely to repeat this feat, but the home crowd is hoping they at least get past the four-team group stages hosted by Manila, Jakarta in Indonesia, and Tokyo in Japan (see full story in Sports, page C1 – Editors). Meanwhile, the Department of Public Works and Highways has undertaken various road repairs Next page
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Stricter rules for departing travelers set By Rey E. Requejo
SALUTING THE MARINES. Speaker Ferdinand Martin G. Romualdez, with Force Reconnaissance Group Acting Commander Lt. Col. Romulo Dimayuga ll (partly hidden), pays respects to the fallen soldiers in a wreath-laying ceremony at the Heroes Monument at the FRG Headquarters, Marine Barracks, Camp Gregorio Lim in Ternate, Cavite, where he also delivered a speech for the group’s 51st anniversary on Wednesday (see related story on A4). Ver Noveno
INSIDE
A 12-PAGE SPECIAL REPORT
BACK TO NORMAL: PH NOW OPEN FOR BUSINESS AL: BACK TO NORM PH now open for business
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24, 2023 THURSDAY, AUGUST extrastory2000@gmail.com
MS SPECIAL REPORT
PANDEMIC PH BOUNCES BACK FROM full capacity, students
went back to campuses
became normal. remains, HE Philippines bounced the and public gatherings the threat of contagion would of back from the impact the Although that the economy there is great hope of exceed pre-panpandemic to post one rebound, but also in 2022 not onlylevels. This puts the Philippines back demic fastest economic growths an upper-middle income potential in on track to becoming and showed further of years or a high-income country in a couple the next two decades. 2023. health nation over aspires to have
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from the global In fact, the government and comfortable Despite the deep scars last a stable expanded 7.6 percent every Filipino enjoy crisis, the economy Natin 2040. domestic demand. lifestyle under AmBisyon along the way, year, reflecting pent-up product grew by another There are challenges inflation which The gross domestic first half of 2023. including the elevated 5.3 percent in the income—a broader stemmed from the pandemic-related of in The gross national in the past, the threat which factors and the measure of growth rose border restrictions on food production countries—also income from other year, climate change many global uncertainties first semester this environment and 9.3 percent in the volatile trade expansion in 2022. territorial conflicts, following a 9.8-percent encouraging. The including that may affect also and evolving technologies Other indicators are banks and conglomerates employment. this country’s largest are more promising profits and revenues Yet, the opportunities is enjoying reported record exceeded pre-pandemic today than ever. The Philippines to its and year; power demand dividends, thanks were up by a third; and and demographic levels; car sales of young workers visitors filled hotels to large population foreign and local are ready to contribute country. entrepreneurs who resorts across the Health Organization national development. With the World end to fundamentals, strong great hope” an With solid economic declaring with political stability public health emergency” financial system, prevailing COVID-19 as a environment, the government business Philippine the and conducive in May 2023 and only back to the face mask mandate, Philippine economy is not subsequently lifting business ready to soar. previously-restricted normal, but is also other flights resumed at establishments reopened,
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THURSDAY, AUGUST 24, 2023 extrastory2000@gmail.com
MS SPECIAL REPORT
BACK TO NORMAL: PH now open for business
BACK TO NORM AL: PH now open for business
Transport infra projects seen to drive economy By Darwin G. Amojelar
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HE government is betting on big-ticket transport infrastructure projects to revitalize the domestic economy and create more jobs. The Marcos administration committed to maintaining an annual spending on infrastructure of around 5 percent to 6 percent of the gross domestic product from 2023 to 2027. This is equivalent to about $20 billion to $40 billion per year. Under the “Build-Better-More” program, the government identified 194 infrastructure flagship projects worth P8.3 trillion. The goal is to sustain economic growth, create more jobs and reduce poverty. “The underlying logic to our infrastructure development is economic efficiency. We are opening up all gateways to mobilize goods and services at less cost and in less time and ultimately to drive the economy,” President Ferdinand Marcos Jr., said in his second State of the Nation Address. Priority projects Transportation Secretary Jaime Bautista committed to ramping up the construction of rail, maritime, road and aviation projects to provide socio-economic benefits to Filipinos. “The department will speed up the momentum in completing more transport infrastructure projects aimed at moving people, products and services and trigger economic growth,” Bautista said. Data showed that as of end-June 2023, the agency disbursed more than P43 billion covering payments for various priority transport infrastructure projects. “The DOTr commits to further streamline its processes, work closely with other government agencies and contractors to ensure timely completion of portions of projects scheduled this year,” Bautista said. Under the agency’s 2024 budget, a sub-
stantial portion of the proposed P214.3 billion will support the “Build Better More” program. A total of P176.4 billion will be directed towards the DOTr’s public sector infrastructure budget, fostering high-impact transport projects approved by the NEDA board, including the North-South Commuter Railway System and the Metro Manila Subway Project Phase I under the Rail Transport Program; the Land Public Transportation Program; and the Aviation and Maritime Infrastructure Programs of the DOTr. Railway projects
Bautisa said railway development is a priority of the agency. “Railway systems effectively address traffic congestion while providing increased passenger and freight capacity,” he said. The DOTr chief said the government is looking for private investors in the PNR North Long-Haul Project that will link Metro Manila to Ilocos and Cagayan. The North Long Haul project is an 800-kilometer inter-regional railway system in northern Luzon connecting the National Capital Region, Region 1, Region 2 and Region 3. The project will include passenger railway stations, cargo terminals, maintenance depots, operations control centers, connectivity to seaports and transit-oriented developments. It is also envisioned to link strategic infrastructure such as Clark Freeport Zone, PuroPoint, Laoag International Airport, Port Irene and Lal-lo Airport.
DOT encourages travelers, puts up tourism rest areas gaining access to other provisions necesBy Othel V. Campos sary during their stay at a destination. The TRAs are equipped with features that THE Department of Tourism is putting up tourism rest areas across the country to will come in handy for travelers including spur tourism and convince more people to clean restrooms, shower area, lounge area, pasalubong or souvenir center and chargtravel. ing stations. Secretary Christina Frasco The TRAs are conceptuconceptu said giving tourists premium alized and undertaken in treatment is an act of good-collaboration with the will and reflects the host Tourism Infrastructure country’s desire to give and Enterprise Zone the best experience to Authority, the DOT’s visitors. infrastructure bu“The establishment reau. of the TRA fulfills “Every detail of a DOT’s objectives in imtourist journey is im improving the overall Departportant to the Depart tourist experience. It ment of Tourism, and ensures that our tourists that is why we decided feel comfortable in their to address one of the journey as they travel most basic necessities across the country,” of travel – clean and Tourism Secretary Christina Frasco she said. decent restrooms and The DOT aims to information center build 25 TRAs, with an initial 10 already in construction. Three and pasalubong center,” Frasco said. The TRAs are envisioned to support of them are already open. From the first TRA in Medellin, Cebu, the DOT’s goal to increase tourism arrivthe DOT broke ground for facilities in als, year-on-year, and sustain the sector’s Manolo Fortich in Bukidnon; Samal Island growth trajectory. The DOT is confident in Davao del Norte; the towns of Carcar, about achieving its goal of recording 4.8 Carmen and Moalboal in Cebu; Dauis in million foreign tourists in 2023 and 7.7 million in 2024. Bohol; Pagudpud in Ilocos Norte; Roxas in Data from the DOT showed that as of Palawan; and Baguio City. The first TRA, inaugurated in the sugar- Aug. 13, 2023, international visitor arrivcane town of Medellin, is a cozy pit stop als in the Philippines reached 3.41 million, for tourists traveling to the northern part representing 70.34 percent of the baseline of Cebu. In between travels, TRA Medel- target arrival for the whole year. The World Tourism Barometer of the UN lin offers free services, including the use of charging station and lounges for short rest. World Tourism Organization showed that The DOT also launched the second TRA in May 2023, the Philippines’ recovery rate in Manolo Fortich in Bukidnon and the third was about 66.33 percent and surpassed the 2022 average growth of 54 percent in Asia facility recently opened in Samal Island. The President identified TRA as among Pacific. International tourism receipts also the priority programs of the administration and a flagship project of the DOT. It serves reached P285 billion in the first half of as a convergence point where foreign and 2023. The DOT said it is committed to local travelers could approach for information on tourism sites and attractions, aggressively pursuing its target and activities and accommodations; reporting promoting the enhanced tourism slogan concerns related to safety and security; and “Love the Philippines.”
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THURSDAY, AUGUST 24, 2023 extrastory2000@gmail.com
MS SPECIAL REPORT
Equity investors stay cautious as global uncertainties prevail
By Jenniffer B. Austria
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SM goes beyond retail, banking to serve more communities
TOCK prices have yet to return to their prepandemic levels as investors remain cautious amid global uncertainties and central banks’ monetary tightening.
Philippine stocks started the year with the benchmark index level on expectationshitting the 6,800 SM GOES beyond retail, banking and that inflation would cool down property to better ties, especially in and interest rate hikes serve more communiprovincial areas where would ease in the SM also invests in second half of 2023. clean energy productionlocal economies are growing faster. While inflation decelerated and logistics. in the past Community impact few months, the continued A neighborhood in Barangay Sta. Rita hawkish stance by the United States when an Alfamart in Guiguinto, Bulacan Federal Reserve and market, Philippine Stock Exchange opened brightened up the Bangko Sentral president and chief area is now lit up through last year. What was once too P1.15 billion. ng Pilipinas caused dark for comfort, the presence of this the 30-company the Monzon still believes executive Ramon Alfamart’s presence “The capital raising new establishment. Philippine Stock pipeline in Ex- time for companies that now is a good the first change index to fall as it provides space has become a catalyst for economic half to activity in the area to sell to small suppliers of 6,290.27 on Aug. a nine-month low the equities market. to raise capital from expected. Therewas not as robust as residents for convenience while meeting the 18. Since the start of are offerings targeted needs of the the year, the index Monzon said companies SM currently has 3,677 and broader fresh food choices. in the next two months was retail outlets across planning to and hopefully, from 6,566 in end-2022.down 4.2 percent conduct an initial ering quality products the Philippines consistently public offering should there will be additional IPOs and services. delivbefore The local bourse’s not focus too much on getting high valu- the year ends,” Monzon said. Regional expansion from the 7,500 year-end level was far ation for their shares, Through the years, Two big IPOs the market has been anstockbrokerage firms. target of some the potential increase but instead look at ticipating—Enrique tered on their networkSM has built and managed integrated developments cenof their stocks afRazon’s Prime Incontinued hawkish Analysts said the ter implementing and 24 malls in Metro of 83 malls nationwide with 59 malls tone by the Fed and expansion plans using frastructure Capital Inc. and SM in provincial areas Manila. the growing worries Prime proceeds raised from Malls have become Holdings Inc.’s SM about China’s ecothe community centers nomic slowdown terprises come to For this year, Monzon market. ferred to next year REIT—were dewere sparking global thrive; where residents where medium, small and micro due to current volais still keeping tile concerns. enhis target of P160 ence. The recently come market conditions. opened SM City Bataan, to create memories and experibillion worth of Here at home, investors capital raising activities the expansion in the Prime Infrastructure SM’s 83rd mall, is provinces, creating from the stock a testament to was planning to about slowing domestic were worried market including and growth. new gateways and IPOs, rights offering, raise up to P33 billion from its maiden avenues for tourism of elevated interest growth because preferred shares SM Development offering and private listing, while SM REIT was looking rates and rising Corp., SM Prime’s commodity prices, placements. the widening housing residential arm, is to generate $1 billion with also helping address gap in proceeds. in oil prices that also the recent surge As of the first half SMDC has a growing at close to 6.5 million homes. Bond market of 2023, fund raisdollar exchange rate. affected the peso- ing in the PSE with emerging economiesnumber of residential projects in In the bond market, reached P36.99 billion, key provincial cities things were not and growing populations. The BSP has so far down 40.2 percent either integrated into These developments from P61.92 billion as rosy as the Philippine Dealing & raised the policy SM malls or have rates by 425 basis are Exwithin their communities their own commercial change Corp. predicted. points to 6.25 percent in the same period last year. establishments The operator between May 2022 fares for the convenience and are near transport terminals Three new firms and and major thoroughwere listed on the of the country’s fixed-income exchange of their residents. fore taking a prudent March 2023, be- local bourse as Last year, four SM was expecting bond of end July. These malls also opened listing to reach are P200 billion three Monetary Boardpause in the last Alternergy Holdings SM City Roxas in in the regions outside this year. Capiz, meetings amid raised Corp., which Metro Manila: the sustained easing and SM City Tuguegarao SM City Tanza in Cavite, SM City The figure was lower P1.61 billion in of inflation. Sorsogon in Bicol fresh capital; a in Cagayan. compared gadget to record P508 billion A good time for IPOs retailer Upson worth of capital International Despite the current Corp., P1.65 billion; headwinds in the and renewable firm raised from the bond market in 2022 Repower Energy Development Corp., and the earlier target of P450 billion for 2023.
PLDT, Smart, MVP Group reach more in Luzon post #EgayPH, extendin g medical and relief aid
REACHING more #EgayPH-hit communities PLDT, Smart, and in need, the rest of MVP-led companies and foundations have extended Cagayan, Ilocos Sur, relief assistance to Bataan, Benguet, and Another leg of medical Pampanga. end by Tulong Kapatid mission was conducted this weekin Guagua, Pampanga. “We would like to express our sincerest ny V Pangilinan and gratitude to ManTulong Kapatid for Pampanga as one choosing Guagua, of the sites for the medical mission and relief operations conducted by the Group. would truly help our communities recover This initiative of the recent typhoon,” from the impacts of Guagua, Pampanga. said Mayor Anthony Joseph Torres Aside from onsite medical services and representatives of e-consultations, Alagang Kapatid Foundation, Cignal, Maynilad, Metro Pacific Investments Foundation (MPIF), MMC Foundation, mWell, NLEX, One Meralco Foundation (OMF), PLDT, Smart, and PLDT-Smart also delivered hot meals, relief packs, Foundation (PSF) sleeping kits, water and water purifiers. “This opportunity to gether. We are a part help Guagua has brought us here toof tion at Tulong Kapatid one MVP Group and our collaborahas proven our capacity ately mobilize and to immedihelp those in need,” Chief Leadership Transition said Ricky Officer at PLDT and Vargas, The PLDT Group Smart. also mWell e-consultations provided connectivity to power up Libreng Tawag (free held at Guagua Elementary School. calls) and Libreng charging) stations Charging (free were tion needs of patients also set up to serve the communicaand residents. “We continue to expand our assistance, Tawag, Libreng Tawag from Libreng and emergency load distribution of relief assistance, to goods, and now, free Our team of doctors medical services. and tended medical services nurses assigned in Bulacan also exin Pampanga. We and volunteers for thank our teams their service,” said Cathy Yang, FVP Head of Group Corporate and Communications Smart. at PLDT and More relief packs, sleeping mats, and delivered to various blankets were also towns in Benguet and Cagayan that perienced flooding exand landslides due to typhoon ‘Egay’. Additional batches of relief ly impacted communities aid will be distributed to severein Aurora, Bataan, in the coming days. and Ilocos Sur “We at the PLDT Group would like to mitment of being of service to Filipinos reiterate our comchallenging times. Together with Tulong especially during here to help the town Kapatid, we are of Guagua in the best can,” said Hoyle Disuanco, way the Group Head of Luzon Regional PLDT and Smart FVP and Group Customer Development. PLDT and Smart remain fully committed long Kapatid in finding to joining Tuways to help Filipinos in efforts also underscore need. These the PLDT Group’s advocacy and commitment #SafeandSmart Sustainable Development to support the United Nations’ Being and #11 SustainableGoals #1 Good Health and WellCities and Communities.
SectionS D, e & F
THE Department of Justice InterAgency Council Against Trafficking said it would be implementing stricter departure formalities next month to address the increasing number of human trafficking victims. Under the revised guidelines released on Tuesday, aside from the inspection of basic travel documents, immigration officers may ask relevant clarificatory questions and require outbound passengers to show additional supporting documents. The IACAT said the secondary inspection should not exceed 15 minutes unless extraordinary circumstances require a longer period of inspections. The 15-minute period will commence at the start of the interview by
By Rey Requejo and Vince Lopez and routine activities in our EEZ,” DFA WHAT the Philippines does in its own exclusive economic zone (EEZ) in the South China Sea is not subject to the approval of any country, the Department of Foreign Affairs (DFA) declared Wednesday. “The rotation and resupply missions to the BRP Sierra Madre are legitimate
spokesperson Ma. Teresita Daza said after China’s Ambassador Huang Xilian objected to the delivery of building materials to the BRP Sierra Madre in Ayungin Shoal. “The Philippines’ exercise of its sovereignty, sovereign rights, and jurisdiction within our maritime zones is not Next page
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NEDA asserts role in reclamation projects, cites economic impacts THE National Economic and Development Authority said it needs to be part of discussions on the suspended reclamation projects in Manila Bay, citing their impact on the economy. In a Palace briefing, Socioeconomic Planning chief Arsenio Balisacan said NEDA was not consulted on the issue. “We have not been sought for advice yet or for our perspective but we’ll ultimately have to be involved.
‘PH needs no nod from other countries for actions in EEZ’
As you know, NEDA approves big infrastructure projects particularly those that will have an impact on the economy and society and in the case of Metro Manila, the whole of Metro Manila,” Balisacan said. “We are not a party to the approval of these reclamation projects, but given the significance and importance in the socioeconomic landscape of Metro Manila, NEDA should be part Next page
JAIL TIME? The marker of Fulton Country Jail in Atlanta, where former President Donald Trump (inset) will be booked for an election racketeering case on Thursday. AFP
TRUMP TO BE BOOKED AT INFAMOUS JAIL ATLANTA—Unsafe. Unsanitary. Teeming with insects. When Donald Trump surrenders on Thursday to face charges he tried to overturn the 2020 election he is expected to do so at an Atlanta jail where conditions are so notorious they are under investigation by the Justice Department. The 77-year-old former president and the 18 co-defendants in the election racketeering case are to be booked
at the Fulton County Jail, also known as the Rice Street Jail, according to the sheriff’s office. Standard booking procedure is for a defendant to be fingerprinted and to have a mugshot taken before they are released on bond -- which has already been set at $200,000 in Trump’s case. Trump did not have to undergo the indignity of having a mugshot taken Next page