THE VOICE OF BUSINESS IN NORTHERN MINDANAO

Saturday, December 4, 2010

"ACCEPTING CHALLENGES" - By: Pres. Tony Uy

"ACCEPTING CHALLENGES"





DIR ALICIA EUSENA OF DTI REGION X, IMMEDIATE PAST PRESIDENT RALPH PAGUIO, FELLOW CHAMBER TRUSTEES, OFFICERS AND MEMBERS. PARTNERS, FRIENDS, LADIES AND GENTLEMEN, GOOD EVENING!


AFTER SERVING OROCHAMBER IN VARIOUS CAPACITIES FOR MORE THAN A DECADE, I AM HONORED TONIGHT TO ACCEPT THE RESPONSIBILITY BESTOWED UPON ME AS THE NEW CHAMBER PRESIDENT.


AFTER SUCCESSFULLY HOSTING THE 19TH MINDANAO BUSINESS CONFERENCE LAST SEPTEMBER, IT IS UNNERVING FOR ME TO THINK THAT I’M UP TO A MORE CHALLENGING YEAR IN 2011. INDEED, IT WILL BE A GREAT TASK FOR ME TO CAPITALIZE ON WHAT OUR CHAMBER HAS ACCOMPLISHED AND STILL BE ABLE TO DO MORE TO BENEFIT OUR MEMBERS. SO WITH MUCH OPTIMISM, I AM READY TO FACE THE CHALLENGE. I BELIEVE THAT THE ORO CHAMBER WILL CONTINUE TO GROW AS THE ULTIMATE VOICE OF BUSINESS IN NORTHERN MINDANAO.


THE FIRST ITEM IN MY ACTION AGENDA IS TO SUPPORT AND CONTINUE THE GOOD PROGRAMS AND PROJECTS INITIATED BY THE PREVIOUS PRESIDENTS PARTICULARLY ON MEMBERSHIP DEVELOPMENT AND RETENTION, BMBE, SMALL AND MEDIUM ENTERPRISE DEVELOPMENT PROGRAM, BUSINESS REFERRAL AND MATCHING, EFFECTIVE TAXATION AND LABOR RELATIONS, POWER FORUM, ICT AND OUR VERY OWN OROBEST EXPO. OF COURSE, WE WILL CONTINUE TO CONDUCT THE MONTHLY FREE-OF-CHARGE GOOD BUSINESS FORUM FOR MEMBERS, TECHNICAL TRAININGS AND SECTORAL MEETINGS TO GATHER ISSUES AND CONCERNS FOR ACTION.


ON Business Development and Promotion

WE WILL BE CONDUCTING TIMELY SEMINARS, TRAININGS AND ECONOMIC BRIEFINGS. WE WILL REINFORCE OUR BUSINESS ADVISORY SERVICES IN THE FIELDS OF BUSINESS REGISTRATION, BUSINESS PLAN PREPARATION, PROJECT DEVELOPMENT, KNOWLEDGE MANAGEMENT AND MANY MORE.


WE WILL REKINDLE THE VARIOUS PARTNERSHIP AGREEMENTS WITH LOCAL AND FOREIGN ORGANIZATIONS ESPECIALLY WITH TAINAN CHAMBER, CANADIAN INTERNATIONAL DEVELOPMENT AGENCY, AUSAID OF AUSTRALIA, JETRO OF JAPAN GTZ OF GERMANY AND POSSIBLY FORGE NEW STRATEGIC COOPERATION WITH ASSOCIATIONS IN OTHER ASIAN COUNTRIES.


OTHER THAN SHOWCASING THE PRODUCTS AND SERVICES OF MEMBERS AND PARTNER ORGANIZATIONS THRU THE OROBEST EXPO, WE WILL ALSO TRY TO ESTABLISH A MINI-SHOWCASE AT THE OROCHAMBER OFFICE WHERE MEMBERS’ ACTUAL OR SAMPLE PRODUCTS CAN BE READILY SEEN BY VISITING GROUPS.


ON Chamber Relations & Policy Advocacy

TO ADDRESS YOUR VARIOUS CONCERNS, WE ENCOURAGE YOU TO WRITE US FOR WHATEVER ISSUE/S YOU MAY HAVE SO WE CAN PROPERLY REPRESENT YOU EITHER IN A PUBLIC OR PRIVATE FORUM. WE WOULD APPRECIATE IT IF YOU WRITE OR VISIT US MORE OFTEN TO AIR YOUR CONCERNS.


DURING MY TERM, I WOULD ALSO LIKE TO INCREASE OUR MEMBERSHIP BASE BY 15%. HENCE, I AM ENCOURAGING INACTIVE MEMBERS TO BE INVOLVED AGAIN. I AM ALSO CHALLENGING EVERYONE HERE TONIGHT TO BRING IN AT LEAST ONE FRIEND TO BECOME A MEMBER BECAUSE THE MORE MEMBERS WE HAVE, THE STRONGER OUR VOICE WILL BE ON LAWS AND POLICIES AFFECTING TRADE AND COMMERCE ESPECIALLY ON POWER, TAXES AND WAGE.


IN CLOSING, I WOULD LIKE TO EMPHASIZE THE VALUE OF UNITY. OUR INTERESTS MAY BE VARIED BUT FOR AS LONG AS WE ARE ONE IN OUR ADVOCACY THAT WILL BENEFIT THE COUNTRY’S BUSINESS COMMUNITY. WE SHOULD ALL BE WORKING TOWARDS OUR GOAL OF PROPELLING OUR CHAMBER SO THAT ITS VOICE WILL BECOME EVEN STRONGER AND COMPELLING. TOGETHER, LET US CREATE AND SEIZE OPPORTUNITIES TO MAINTAIN OUR REGION’S STATUS AS THE LARGEST ECONOMY IN MINDANAO AND WHO KNOWS, WITH THE SAME DYNAMISM AND ENTHUSIASM, WE WILL BE ABLE TO PROPEL OUR REGION AS THE BIGGEST ECONOMY IN THE COUNTRY SOON.


THANK YOU SO MUCH AND GOOD EVENING!

Philippine Markets: 03 December 2010


03 December 2010

USD/PhP: 43.95 (as of 12:00pm) PSEi: 4176.48 + 27.58
USD/JPY: 83.67 PFINC: 966.23 + 16.84
EUR/USD: 1.3204 BDO: 59.35 - 0.25
GBP/USD: 1.5593 BPI: 58.05 + 1.05
PDSTF3M: 1.6667 MBT: 73.50 + 2.55
Prices as of 4:00pm Source: Bloomberg, Reuters



Philippine Interest Rate Outlook

Secondary money market rates continued to plummet as market remained very liquid evidenced by historic low yields during recent treasury bill auction. Expect rates to move sideways next week.

Philippine Equities Outlook

Local shares rose 3.03 percent week-on-week to 4176.48 as investors took advantage of the low prices to bargain hunt. Investors took cue from improving sentiments overseas.

Chartwise, the week's close at 4176.48 implies a test of the 4,200 - 4,250 levels in the near term.

Philippine Peso Outlook

The local currency rose against the dollar week-on-week as remittances from Filipinos working overseas continued to flow . Another factor that contributed to the currency's gain is the flow of hot money
into the local capital markets.

Chartwise, current movement of exchange rate suggests that the market may range between the 43.50-44.00 leves in the near-term.
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