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Central Visayas LGUs among those hailed at the 6th Regional Competitiveness Summit
The National Competitiveness Council recognizes the most competitive local government units in the Philippines during the 6th edition of the Regional Competitiveness Summit held on August 16 this year at the Philippine International Convention Center, highlighting the results of the Cities and Municipalities Competitiveness Index (CMCI). Quezon City retained the top spot as most competitive highly-urbanized, a distinction it has held for three consecutive years now. Manila likewise remained on the second spot, while Pasay City obtained the third place. Completing the top 10 for the most competitive highly-urbanized cities in the country are Cagayan de Oro at fifth place, Makati at sixth, Pasig at seventh, Bacolod at eighth, Cebu at ninth, and Muntinlupa at tenth. Meanwhile, CMCI 2018 named Rizal as the most competitive province in the country; Legazpi, Albay as most competitive component city; and Cainta as the most competitive municipality It is worth noting that Bohol managed to capture the 12th spot in survey list of top most competitive provinces in the country this year. The CMCI measures the competitiveness of a local government in terms of four pillars: economic dynamism, or the activities that create stable expansion of business and industries and higher job creation; government efficiency, or the quality and reliability of government services and support for effective and sustainable productive expansion; infrastructure, or the physical building blocks of a locality that enable the provision of goods and services; and resiliency, or the capacity of a locality to facilitate industries and raise productivity despite the shocks and stresses it encounters. These pillars are aligned with the competitiveness indicators used by IMD Competitive Survey, International Finance Corporation... read moreCusi Orders Importation of Low-Cost Oil to Help Arrest Inflation
Energy Secretary Alfonso G. Cusi takes steps to address slowing growth and high commodity prices by tapping the Philippine National Oil Company-Exploration Corporation (PNOC-EC) to import low-priced fuel. PNOC-EC acquired in December last year, a trading function to generate added income for the government. “PNOC-EC will source low-priced petroleum products particularly diesel, to mitigate the impact of volatile oil prices,” Sec. Cusi said. The measure is expected to have a ripple effect on taming the prices of basic commodities, thus controlling inflation. The resulting price relief would ease the plight of consumers. Under the project, the trading function of PNOC-EC will be employed in the acquisition of low-priced fuel which will mainly come from state deals. The PNOC-EC Board chaired by the Energy Chief is drafting the trading procedure and policy safeguards for the public on the proposed importation. The products bought at a special price will be made available to dealers, operators and independent petroleum players under a Memorandum of Agreement. EURO-II COMPLIANT DIESEL The Department of Energy (DOE) also issued a Memorandum Order requiring oil companies to provide Euro-II compliant automotive diesel oil to help reduce fuel prices. “Pursuant to existing Philippine National Standards on Diesel Fuel Quality and in accordance with the provisions of Republic Act 8479, otherwise known as the Downstream Oil Deregulation Law, Republic Act 8749, otherwise known as the Philippine Clean Air Act and for the purpose of reducing the impact of rising petroleum prices in the world market, all industry players are hereby directed to provide at the retail level Euro-II compliant... read more