Filipinos in South Korea

Thousands of foreign Students Flock to the Philippines for World Class Quality yet Affordable education

MANILA, Philippines - Thousands of foreign university students are flocking to the Philippines, attracted by cheap yet high-quality courses conducted in English and an easy-going lifestyle outside class.

With more than 2,100 private and state-run institutions nationwide offering a wide array of courses, and an immigration policy friendly to foreign students, the former American colony is enjoying an enrolment boom.

Nearly 20,000 foreign students held special visas at the end of the school year in March, according to the immigration bureau, which said the number would rise when classes began in June.

This excludes the tens of thousands enrolled in small institutions that offer short courses in English and are particularly popular among South Korean and Chinese students.

Nigerian medical student Dike Edward Ikechukwu, 22, said he learnt about studying in the Philippines at an education road show conducted by Manila schools in his country.

Then already studying pharmacology in Lagos, Ikechukwu said he was intrigued by the prospect of studying in a foreign country where he could expand his medical knowledge without depleting the family resources.

"It was cost effective for me," said Ikechukwu, who is president of the 605-member foreign students' organization at Manila's 400-year-old University of Santo Tomas.

"I would have spent so much more in the United States for the same quality of education."

Denis Somoso, a Filipino OFW Accountant and International Taxation Specialist who is working in Hyundai Engineering, a company of the one of the biggest car maker in the world; the Hyundai Motor Group supposed to pursue his MBA in South Korea but he found out that he need to spend around $ 15,000.00 US Dollar every semester while in the Philippine universities, $ 800 to $1,400 US Dollar is enough for the whole semester so he decided to take his MBA in the Philippines.

“I supposed to enroll for my MBA here in Seoul Korea; I have chosen already one of the famous universities for foreign students here. I got the requirements already and they scheduled me to take an English test but after I got all the information including the fees, I changed my mind because it is really expensive compare to the Philippines” he said. “I still believe the quality of education in the Philippines and studying to the USA is not even needed if you are a graduate in the Philippines because graduate of the Philippines Universities are recognized abroad” he added.

A 4-year degree course in the Philippines costs between $1,000 and $2,500 a year, significantly cheaper than in the United States for example where one could spend more than $30,000 annually, educators here say.

Another important factor for Ikechukwu was English. He said his father, a shipping consultant; travelled to the Philippines before he enrolled to inspect the university and liked the fact English was widely spoken.

The Philippines inherited English from the Americans, who colonized the archipelago at the end of a war with Spain in 1898.

American teachers fanned out across the country to open up schools in remote villages, teaching English grammar, diction and generally instilling a love for education in a legacy that lasts to this day.

Even though the Philippines is one of the poorest countries in Asia with one of the biggest wealth divides, the literacy rate remains one of the highest in the region at about 90%, according to government data.

The government began enticing foreign students to study in the Philippines in the 1980s, mostly in specialized fields such as medicine and agriculture.

The following decade saw an explosion of schools and institutions offering short-term courses in English language, aviation, hotel and restaurant management and maritime-related classes.

Then, in 2000, the government embarked on a strategy to promote the Philippines as a center for education in Asia, with one plank making it easier for foreign students to apply for visas.

It also established exchange programs between Philippine schools and universities in many countries, including Australia, the United States, South Korea, Canada and European nations.

Professor Evelyn Songco, assistant to the rector for student affairs at the University of Santo Tomas, credited the high number of foreigners to the government's strong push to make the Philippines an academic mecca in Asia.

"Many Philippine schools and universities are accredited abroad, and those who graduated from here have created a good impression around the world," she said.

"Our diplomas are competitive abroad, and Philippine universities have always strived to do justice to the tuition fees these foreigners pay. We give them quality education, quality faculty members and facilities."

Beryl France Buendia, an American studying for a physical therapy degree at the University of Santo Tomas, said she believed studying in the Philippines would not disadvantage her in the US job market.

"I believe a Philippine diploma can be just as competitive in the States," the 22-year-old said, although she added cost was a big factor in deciding to study in Manila.

"My dad's quite old and my mom's going to retire soon so they had to budget the plan, so we decided to enrol here," she said.

A younger sister, Bethany, is finishing a degree in communication arts, also at Santo Tomas.

For South Korean psychology student Juhyun Kim, 18, learning English and low costs were important reasons for enrolling at the Ateneo de Manila University.

But she said another factor in choosing to study in the Philippines was the reputation of Filipinos for being so friendly.

"Koreans are very welcome here. Filipinos sincerely care. I like staying here," she said.

Using Cellphones could cause Brain Tumors?

A respected international panel of experts says cellphones are possible cancer-causing agents, putting them in the same category as the pesticide DDT, gasoline engine exhaust and coffee.

The classification was issued Tuesday in Lyon, France, by the International Agency for Research on Cancer after a review of dozens of published studies. The agency is an arm of the World Health Organization and its assessment now goes to WHO and national health agencies for possible guidance on cellphone use.

Classifying agents as ``possibly carcinogenic'' doesn't mean they automatically cause cancer and some experts said the ruling shouldn't change people's cellphone habits.

``Anything is a possible carcinogen,'' said Donald Berry, a professor of biostatistics at the M.D. Anderson Cancer Center at the University of Texas. He was not linked to the WHO cancer group. ``This is not something I worry about and it will not in any way change how I use my cellphone,'' he said _ from his cellphone.

After a week-long meeting, the expert panel said there was limited evidence cellphone use was linked to two types of brain tumors and inadequate evidence to draw conclusions for other cancers.

``We found some threads of evidence telling us how cancers might occur, but there were acknowledged gaps and uncertainties,'' said Jonathan Samet, the panel's chairman.

``The WHO's verdict means there is some evidence linking mobile phones to cancer but it is too weak to draw strong conclusions from,'' said Ed Yong, head of health information at Cancer Research U.K. ``If such a link exists, it is unlikely to be a large one.''

Last year, results of a large study found no clear link between cellphones and cancer. But some advocacy groups contend the study raised serious concerns because it showed a hint of a possible connection between very heavy phone use and glioma, a rare but often deadly form of brain tumor. However, the numbers in that subgroup weren't sufficient to make the case.

The study was controversial because it began with people who already had cancer and asked them to recall how often they used their cellphones more than a decade ago.

In about 30 other studies done in Europe, New Zealand and the U.S., patients with brain tumors have not reported using their cellphones more often than unaffected people.

Because cellphones are so popular, it may be impossible for experts to compare cellphone users who develop brain tumors with people who don't use the devices. According to a survey last year, the number of cellphone subscribers worldwide has hit 5 billion, or nearly three-quarters of the global population.

People's cellphone habits have also changed dramatically since the first studies began years ago and it's unclear if the results of previous research would still apply today.

Since many cancerous tumors take decades to develop, experts say it's impossible to conclude cellphones have no long-term health risks. The studies conducted so far haven't tracked people for longer than about a decade.

Cellphones send signals to nearby towers via radio frequency waves, a form of energy similar to FM radio waves and microwaves. But the radiation produced by cellphones cannot directly damage DNA and is different from stronger types of radiation like X-rays or ultraviolet light. At very high levels, radio frequency waves from cellphones can heat up body tissue, but that is not believed to damage human cells.

Some experts recommended people use a headset or earpiece if they are worried about the possible health dangers of cellphones. ``If there is a risk, most of it goes away with a wireless earpiece,'' said Otis Brawley, chief medical officer of the American Cancer Society.

Brawley said people should focus on the real health hazards of cellphones. ``Cellphones may cause brain tumors but they kill far more people through automobile accidents,'' he said. Brawley added it was also reasonable to limit children's use of cellphones since their brains are still developing.

Earlier this year, a U.S. National Institutes of Health study found that cellphone use can speed up brain activity, but it is unknown whether that has any dangerous health effects.

In the U.S., the Food and Drug Administration and the Federal Communications Commission have found no evidence cellphones are linked to cancer

 

Philippine Peso appreciated 0.1% over dollar for 3rd Day on Optimism Spending to Boost Growth

The Philippine peso gained for a third day, paring losses this month, on optimism government spending will boost economic growth in the Southeast Asian nation.

The Philippine peso advanced for a third day as the government pledged faster economic growth with state spending. Bonds advanced.

The government will "pump prime" the economy and growth will improve in the remainder of the year, President Benigno Aquino said yesterday. Gross domestic product rose 4.9 percent in the three months to March from a year earlier after having increased 7.1 percent in the previous quarter, government data showed yesterday. The Philippine economy will expand 5.7 percent this year, Standard Chartered Plc said in a report today.

"As the government steps up spending, growth will probably improve from the first quarter, which was a relatively decent number," said Manu Goseco, a treasurer at East West Bank Corp. in Manila.

The peso gained 0.1 percent to 43.272 per dollar as of the 4 p.m. close of trading in Manila, according to Tullett Prebon Plc. The currency dropped 1.1 percent this month, snapping a three-month rally.

Banks that engage in non-deliverable forward transactions in the foreign-exchange market must submit a daily report, the central bank said on its website. The peso, which rose as much as 0.3 percent today, pared those gains after Governor Amando Tetangco said policy makers seek a clearer picture of the derivatives.

"There's a bit of ambiguity on the circular and the uncertainty has a knock-on effect on the peso," said Rafael Algarra, executive vice president at Security Bank Corp. "It should settle down once things are clarified."

The yield on the 6.25 percent January 2014 peso bond fell two basis points, or 0.02 percentage point, to 4.93 percent, according to Tradition Financial Services. The rate increased 50 basis points from the end of April.

The nation’s economy grew 4.9 percent in the first quarter from a year earlier, compared with a revised 6.1 percent expansion in the previous three months, the government reported today. Remittances, which account for more than 10 percent of the economy, increased 4.1 percent in March from a year earlier, the central bank said May 16. The peso weakened 1.2 percent this month as Europe’s debt crisis spurred investors to favor safe- haven assets.

“Fundamentals are solid” even as government spending faltered in the last quarter, said Marcelo Ayes, senior vice president at Rizal Commercial Banking Corp. in Manila. “The peso seems to be dictated not much by internal news, but external news. The elevated risk aversion is still there due to uncertainty over Greece.”

The peso appreciated 0.1 percent to 43.315 per dollar at the 4 p.m. close in Manila, according to prices from inter- dealer broker Tullett Prebon Plc. The currency touched 43.585 on May 25, the weakest level since March 29.

Philippine economic growth will probably quicken this quarter as the government catches up on spending, Economic Planning Secretary Cayetano Paderanga told reporters today in Manila.

The government will “pump prime” the economy starting this quarter and growth will improve in the remainder of the year, President Benigno Aquino also said today. Power and infrastructure investment will be coming in and crises in the Middle East and Japan weighed on the domestic economy, Aquino said.

The yield on the 6.25 percent note due January 2014 held at 4.95 percent, according to Tradition Financial Services.

 

Communist China Don't deserved chair, power and authority in the United Nations

The United Nations Convention on the Law of the Sea (UNCLOS) guaranteed 200 Nautical Mile Economic Zone for the Philippines, China, Vietnam, Brunei, Malaysia and Indonesia. UNCLOS did not show any China’s territory in the West Philippines Sea’s Spratlys. China’s limit is only until Paracel islands.  The Philippines recorded already 6 invasions by china to the West Philippine Sea as of June 16, 2011.

China’s temporary pedestal

Inspite of China’s temporary and limited power as they are not yet so powerful compared to America; they are already starts bullying the small neighboring countries around them. Just recently, we could see how the Chinese war planes browbeaten the Philippine warplane patrolling in the Kalayaan Islands Group (KIG), province of Palawan Philippines. China has been accused for 6 times invasion into the Philippines waters in just 4 months in 2011. It has been reported that China threaten and fired the Filipino fishermen in the West Philippine Sea, just few kilometers from the shore of Palawan. China also had been accused of invading the Philippine horizon in the Islands and waters of the West Philippine Sea. Further, they also conduct a research in the Philippine waters without asking any permission to the Philippines’ government. China insisted after the Philippines protest as they said it is within their jurisdiction rejecting the UNCLOS international laws of sea 200 Nautical Miles Exclusive Economic Zone of all the countries surrounding the area. Part of china’s dream to create a Chinese empire, they issued a new 9 dotted map claiming the Philippines shore, waters and islands in the West Philippines after the result of study and research that the West Philippines Sea ranked as the 4th largest Oil and Gas Deposit in the world in line with the Arab countries. Not only in the Philippines; China also harassed the government owned oil and exploration of the communist Vietnam (Petro Vietnam). They also want to claim the waters and islands of Malaysia, Brunei and Indonesia.

Spratlys Islands of the Philippines

The Spratlys or also called as Kalayaan Island Group (KIG) or Freedom Land of the Philippines is composed of small islands, reefs and atolls. It is located in the West Philippines Sea (formerly called South China Sea) that links the Philippine Sea -Pacific Ocean and the Indian Ocean. All its islands are coral, low and small, about 5 to 6 meters above water, spread over 160,000 to 180,000 square kilometers of sea zone (or 12 times that of the Paracels), with a total land area of 10 square kilometers.  The Spratly Island is - whole or partially claimed by the Philippines as it is in the West Philippine Sea, within 200 Nautical Mile Exclusive Economic Zone (UNCLOS – International Laws of Sea). The Philippines is the closest archipelagic country in Asia with the same features of the Spratlys. The Philippines also is the first country legally pronounced its ownership to the world through a Filipino navigator Tomas Cloma in 1955.  With UNLCOS 200 Nautical Mile Exclusive Economic Zone[200 Nautical Mile or = 370.40 Kilometers because 1 Nautical Mile (NM) = 1.85 Kilometer and / or 1.15 Miles (mi)], the Philippines, China and Vietnam gains their rights to explore their seas with such International Laws of Sea limit. The disputed areas are just in between the Philippines and Vietnam’s 200 Nautical Mile EEZ but disputes arisen in the non disputed areas which most are in the Philippines' water when other claimants including Vietnam, China, and Malaysia overlapped their claim into the Philippines Waters. In the UNCLOS 200 Nautical Mile Exclusive Economic Zone- the countries have rights over spratlys are only the Philippines, Malaysia, Brunei and Indonesia. For China and Vietnam their limit is just until the Paracels. In between the Paracel and Spratly is the international water which is disputed. The Malaysian claimed is based on the North Borneo which is called now as Sabah the old Sultanate of Sulu, Philippines which was turnover by Britain to Malaysia as gift for friendship and alliance. The Philippines still on their stake to take back the North Borneo and planned to void the turnover of Britain because Britain is not part of the country and they don’t have jurisdiction over the sultanate of Sulu, Philippines.

China, the 666; the beast in the phrase of the Holy Bible

China is not yet fully installed in the full power like America, but now they are start crawling to claim neighboring countries. Analysts and concerns asked- so how much more if china will become the powerful country in the world. China is also named as the golden dragon. The Holy Bible mentioned that time will come, the beast and dragon will rule the earth and the world slowly decrypts the phrases of the Bible which slowly pointing the communist china as the 666 dragon. In china religion is limited. China’s government will jail you if you will gather to praise Jesus Christ. The Bible mentioned about the Anti-Christ; and the existence of China as the golden dragon is performing the - what explained in the “Revelation” of the Holy Bible as anti Christ. If China will win over the Spratlys, it could be the time that china will take over the West Philippine Sea, and the dragon would have the potential to take over and rule the world as they would gain more power in the Oil and Gas deposit in the area of the West Philippines Sea. China might promote satanic act and 666 around the globe and might vanished the human rights law and control every breath of every living creature in earth. 

It’s not yet too late to boycott all products from china so the demon will stop growing. USA, the most powerful peaceful nation must start cutting the evil desire of china. Even the USA which is the most powerful country, they did not abuse their power and authority. USA promotes justice and human rights to the entire humanity as a good model to the countries of the world. Opposite on what happen in china, they are communist and anyone will against the government will die. Anyone will gather for their religions like Christianity will be jailed. USA is not like that. The America is a good leader with capability to discipline and educate other leaders.

If China will win against the battle for the Spratly of the Philippines, the world would have imbalance of power both economically and leadership. If the Philippines will fail to protect their sovereignty especially in the Kalayaan Island Group, it is not the only loss of the Philippines but it’s a big loss of the world as the anti Christ 666 dragon china will rule the earth and they could control everything. The loss of the Philippines is the loss of the entire humanity. The only “key” left to jail this dragon to remain its cage is the Philippines the country of the people of God dominated by Christianity. As United States of America a chosen country to protect the world from the evil desire of any country like China and their allies, USA have the role to protect the countries who exercise freedom and justice and they have the role to protect the “key” to remain the dragon in jail which is the Philippines. We could not change the destiny of the Earth but we could protect the world and its people from totally damaged. We can delay the phrases revealed in the Holy Bible of “The Revelation” the beast, the dragon and the 666 will rule the earth before the coming of Christ.

The Philippines and the MDT with USA

As part of the agreement between the Philippines and the USA (MDT) or Mutual Defense Treaty; the United States is obliged to protect the Philippines and the only way to do it is to restore the presence of the USA in areas of the Philippines. If the USA will install their airbase in the Spratlys, then they could discipline china’s rude illusion in the Southeast Asia that would affect the world. USA and allies must protect the countries which are the subject of the illusion of China that might result to spark the unexpected Third World War (WWIII). How comes the very far China with 1000 Miles distance of the east Asia will crawl to claim the Philippines of the Southeast Asia? .

The Philippines and China in the Ancient times

It is undeniable that before the invasion of the Spain to the Philippines prior the year 1300 China already makes business with the Philippines peacefully. SPAIN, USA and British is not there in Asia, China and the Philippines live peacefully and China even use some islands of the Philippines which is the Spratlys while conducting business with the Philippines. China usually has the stopover in Spratlys before coming and leaving to the Main Islands of the Philippines (Luzon, Mindanao & Visayas).  China also continues their trading to Indonesia passing through the Philippine waters.  China now is slowly grabbing power both economy and leadership in the global community. What will happen if China will be fully installed as the most powerful country? China becomes greed and wants to betray the friendship with the Philippines that established since ancient time.  China must wakeup; if china wants peace then they must have to protect the still weakening friendship with neighbors because the reason of the recent conflict  is because of china’s illusion to claim the islands and waters of the West Philippines, and islands of the communist Vietnam in Paracel.

 

 

 

Vietnam Clash with China in the disputed East Sea (Formerly South China Sea)

Vietnam's foreign ministry has accused China of increasing regional tensions in an escalating territorial dispute.

A rare weekend news briefing followed a confrontation in the EAST SEA (Formerly known as South China Sea) between a Vietnamese oil and gas survey ship and Chinese patrol boats.

Vietnam says the boats deliberately cut the survey ship's cables in Vietnamese waters. China denies the allegation.

China, Vietnam, the Philippines, Malaysia, Brunei and Taiwan all claim territories in the EAST SEA (Formerly known as South China Sea).

The area includes an important shipping route and is also thought to contain oil and gas deposits.

The spat comes just days before a regional security conference in Singapore.

Beijing said its defence minister would attend the International Institute of Strategic Studies to promote co-operation and stability in the Asia Pacific region.

'Clash with high speed Chinese Patrol Boat'

The latest clash involving Chinese patrol boats occurred 120km (80 miles) off the south-central coast of Vietnam and some 600km south of China's Hainan island.

"The Vietnamese navy will do everything necessary to firmly protect peace and the independence, sovereignty and territorial integrity of Vietnam," foreign ministry spokeswoman Nguyen Phuong Nga said.

One of three Chinese patrol vessels on the scene intentionally cut a submerged cable towed by the ship, the Binh Minh 02, said Do Van Hau, deputy chief executive of state oil and gas group PetroVietnam, which was operating the ship.

"Chinese vessels were at very high speed and did not respond to our ship's warning and then cut the cables of the Binh Minh 02, about 2km from where it was positioned," he said.

China's foreign ministry blamed Vietnam for the incident, saying its oil and gas operations "undermined China's interests and jurisdictional rights".

China's claim in the EAST SEA (Formerly known as South China Sea) is by far the largest, and includes the Spratly and Paracel archipelagos.

Taiwan recently said it would improve the defense capability of more than 100 coastguard troops stationed in a disputed area of the EAST SEA (Formerly known as South China Sea).

Taiwan's decision was announced shortly after the Philippines increased the pressure recently by lodging a protest at the United Nations against China's claims to the area.

Last year, China sharply rebuked US Secretary of State Hillary Clinton when she said the US supported the freedom of navigation in the area and offered to facilitate multilateral talks on the disputes.

 

40 Australian Oil and Gas Exploration firms keen on investing in the Philippines this year

Oil and Gas: At least 40 prominent Australian oil and gas exploration companies have expressed strong and keen interest in investing in the Philippine upstream oil and gas industry, a favorable start for the government’s international road show for the Philippine Energy Contracting Round (PECR 4).

These interested companies include Shell, Apache, Chevron, AWT International, Black Swan, CalEnergy, Cue Energy Resources, ENI Australia, Exxon, Neon Energy, Otto Energy, Woodside, Anglican Resources PLC and Tap Oil, Energy Undersecretary Jose M. Layug Jr. said.

“The investor interest is overwhelming and everybody is keenly awaiting the availability of the DoE technical data for their immediate evaluation. We were pleasantly surprised with the turnout despite the short notice,” Layug noted.

“This is a validation of continuing international confidence in the Aquino administration. We hope this will result in new oil and gas discoveries within Philippine territory. It comes at an appropriate time especially with the current high oil price environment,” added Energy Secretary Jose Rene D. Almendras.

The Australian roadshow held last May 23 was a kick-off event to promote the official launch of the PECR 4 this coming June 30. The DoE has also scheduled roadshows in Singapore, Houston and London. This early, many investors have already registered for the Singapore and London presentations and have been awaiting information pertaining to the blocks to be offered, Layug said.

PECR 4 formed part of President Aquino’s long-term plans to address the Philippines’ need for oil and gas and to reduce the country’s dependence on costly imported oil.

This platform provides for transparent and competitive system of tendering onshore and offshore oil and gas blocks for exploration to interested oil and gas companies. Under this process, the Department of Energy will determine the winning bidders based on specific technical, legal and financial criteria, after which the President of the Philippines will have to award the service contracts.

As many as 15 contracts for the exploration, development and production of prospective oil and gas sites may likely be auctioned off this June 30, 2011. These areas span across 7.92 million hectares of areas in Cagayan, Central Luzon, Northwest Palawan, Mindoro-Cuyo basin, East Palawan and Sulu Sea and  Cotabato. Northwest Palawan is home to the Malampaya deep water gas-to-power project, the largest and most successful natural gas industrial project in Philippine history.

Layug stressed the need to develop these new areas as the demand for oil in the Philippines has been estimated at 300,000 barrels per day. The entry of new companies that would venture into exploring and developing the country’s indigenous resources would reduce its dependence on imported petroleum products, he explained.

The utilization of indigenous resources would also promote savings in tariffs and importation duties, Layug added.

Currently, there are 28 active petroleum service contracts in the Philippines with Exxon Mobil, Shell Philippines Exploration, Nido Petroleum, BHP Billiton and Galoc Production Co. among the operators.

 

GDP of the Philippines growth 4.9% in 1st quarter

Asian Economy: The economy grew by a lower-than-expected 4.9 percent in the first quarter of the year due to a drop in global trade and government underspending on infrastructure.

The National Statistical Coordination Board (NSCB) said gross domestic product (GDP) growth in the three months to March was lower than the 8.4 percent rise posted in the same period last year, when economic activity was boosted by election-related spending.

The first quarter figure was also below the 5.1 percent median forecast in a previous poll of economists, and was near the low end of the government’s projection of 4.8 percent to 5.8 percent growth, based on the 1985 price series.

“Underspending by the government and the slowdown in global trade constricted the economy to a lower growth of 4.9 percent in the first quarter,” NSCB Secretary-General Romulo Virola said in a statement.

On a seasonally adjusted basis, the economy expanded by 1.9 percent in the March quarter from the previous three months, after growth of 0.5 percent in the fourth quarter of 2010, which was recalculated with 2000 as base year.

Overall growth in the previous years have been revised using 2000 as base. Earlier this month, the government said expansion in 2010 was 7.6 percent under the new data series compared with 7.3 percent under the old.

The government is aiming for a full-year GDP growth rate of 7 percent to 8 percent this year, a goal it set before the political unrest in the Middle East and North Africa erupted, and Japan’s earthquake, tsunami and nuclear disasters.

NSCB reported that gross national income (GNP), which includes income from abroad, expanded 3.6 percent in the first quarter from 11.5 percent last year. The drop was partly due to crisis in the Middle East and North Africa, key sources of remittances from overseas-based Filipino workers, as well as the appreciation of the peso against the dollar.

For his part, Socioeconomic Planning Secretary Cayetano Paderanga Jr. said the first quarter performance was within the National Economic and Development Authority (NEDA) forecast of 4.8 percent to 5.8 percent for the first three months of the year.

Paderanga said that agriculture, hunting, forestry and fishing rebounded by 4.2 percent from a contraction in the same period last year.

“This was mainly due to increased yield, expansion in harvest areas and full milling operations in major producing areas of palay, sugarcane, and corn. Meanwhile, the high demand for chicken meat both from households and fast food chains helped push poultry production,” the Socioeconomic Planning chief said.

Similarly, the industry sector grew by 7.2 percent growth, supported by the expansion in manufacturing, construction, and mining and quarrying.

The services sector, which remains as the largest contributor to GDP with 55 percent share, grew by 3.7 percent on account of other services, real estate, transport, storage and communication, and finance, Paderanga also said.

However, Paderanga said that for the government to meet the seven percent to eight percent growth target for the year, the implementation of appropriate policies supportive of growth must be undertaken.

“To have a stronger growth in the coming quarters in spite of the risks and uncertainties surrounding the country, the timely and effective implementation of appropriate policies and reforms will be undertaken. These include measures such as addressing corruption and making the bureaucracy more efficient by streamlining processes to lower the cost of doing business for the private sector as well as expediting the release and utilization of budget for a more efficient timely implementation of programs and projects,” Paderanga said.

However, Paderanga said that for the government to meet the seven percent to eight percent growth target for the year, the implementation of appropriate policies supportive of growth must be undertaken.

“To have a stronger growth in the coming quarters in spite of the risks and uncertainties surrounding the country, the timely and effective implementation of appropriate policies and reforms will be undertaken. These include measures such as addressing corruption and making the bureaucracy more efficient by streamlining processes to lower the cost of doing business for the private sector as well as expediting the release and utilization of budget for a more efficient timely implementation of programs and projects,” Paderanga said.

He also said the interagency Development Budget Coordination Committee (DBCC) would be reviewing the 2011 growth goal of seven percent to eight percent.

However, Paderanga was mum on whether or not NEDA would recommend a downward adjustment in the growth projection for the year.

Had the government spent more during the period, NSCB’s Virola said the economy would have grown a faster pace of 5.1 percent.

 

113th Philippines Independence Day - June 12, 2011

The national flag is meant to be a unique symbol for a country. The Philippines' national flag is the only flag in the world which may be hoisted inverted when the Congress of the Philippines has declared a "state of war" the Philippines is legally unique in that it is flown with the red stripe on top when the country is in a state of war, rather than the conventional blue.

The Philippines will celebrate of its 113th Independence Day, replicas of the Philippine national flag started to fly in some parts of Manila and the Provincial areas.

The flags were placed along major streets and on bridges starting Friday, the eve of the anniversary marking the first time the Philippine flag was unfurled.

Replicas of Philippine flag are placed on a bridge in Manila Friday afternoon, two weeks before the nation marks its 113rd Independence Day. Part of the Flag protocol; the flag should be displayed in all government buildings, official residences, public plazas, and schools every day throughout the year. The days of the 28th of May (National Flag Day) and the 12th of June (Independence Day) are designated as flag days, during which all offices, agencies and instrumentalities of government, business establishments, and institutions of learning and private homes are enjoined to display the flag. But in recent years, the flag days are now from May 28 to June 30 yearly.

Malacañang has called on Filipinos to display the Philippine flag at home, offices, schools, public buildings and plazas, as well as embassies and consulates overseas from May 28 until June 12.

May 28, 2011 (Saturday) marks the 113th anniversary of the first unfurling of the Philippine flag at Teatro Caviteño.

“This period commemorates the Battle of Alapan on May 28, 1898 when the national flag was first unfurled in an uprising led by General Emilio Aguinaldo in Imus, Cavite, and culminates on June 12 when the Philippine flag was waved in full view of the world following the formal proclamation of independence in Kawit, Cavite," presidential spokesman Edwin Lacierda said in a statement earlier this week.

A Palace statement also cited Section 26 of Republic Act 8491, the “Flag and Heraldic Code of the Philippines," which orders all offices and public venues to display replicas of the flag.

 

 

After Philippines flag first unfurled, it flies all over Luzon Visayas and Mindanao for the 113th Philippine Independence Day (2011)

The national flag is meant to be a unique symbol for a country. The Philippines' national flag is the only flag in the world which may be hoisted inverted when the Congress of the Philippines has declared a "state of war" the Philippines is legally unique in that it is flown with the red stripe on top when the country is in a state of war, rather than the conventional blue.

The Philippines will celebrate of its 113th Independence Day, replicas of the Philippine national flag started to fly in some parts of Manila and the Provincial areas.

The flags were placed along major streets and on bridges starting Friday, the eve of the anniversary marking the first time the Philippine flag was unfurled.

Replicas of Philippine flag are placed on a bridge in Manila Friday afternoon, two weeks before the nation marks its 113rd Independence Day. Part of the Flag protocol; the flag should be displayed in all government buildings, official residences, public plazas, and schools every day throughout the year. The days of the 28th of May (National Flag Day) and the 12th of June (Independence Day) are designated as flag days, during which all offices, agencies and instrumentalities of government, business establishments, and institutions of learning and private homes are enjoined to display the flag. But in recent years, the flag days are now from May 28 to June 30 yearly.

Malacañang has called on Filipinos to display the Philippine flag at home, offices, schools, public buildings and plazas, as well as embassies and consulates overseas from May 28 until June 12.

May 28, 2011 (Saturday) marks the 113th anniversary of the first unfurling of the Philippine flag at Teatro Caviteño.

“This period commemorates the Battle of Alapan on May 28, 1898 when the national flag was first unfurled in an uprising led by General Emilio Aguinaldo in Imus, Cavite, and culminates on June 12 when the Philippine flag was waved in full view of the world following the formal proclamation of independence in Kawit, Cavite," presidential spokesman Edwin Lacierda said in a statement earlier this week.

A Palace statement also cited Section 26 of Republic Act 8491, the “Flag and Heraldic Code of the Philippines," which orders all offices and public venues to display replicas of the flag.

 

 

Philippine President Benigno Aquino visit Kingdom of Thailand on May 26-27 (2011)

President Benigno S. Aquino III visit Thailand (May 26-27) upon the invitation of Thai Prime Minister Abhisit Vejjajiva.

Department of Foreign Affairs said the official visit of the President is aimed to further strengthen the Philippines deep and strong bilateral ties with Thailand.

“The visit aims to further strengthen the Philippines’ deep and strong bilateral relations with Thailand, as well as cooperation within the Association of Southeast Asian Nations in order to help build a secure and prosperous Asean community by 2015,” the DFA said in a statement.

During the visit, President Aquino and PM Abhisit is set to discuss important issues including combating drug trafficking, agriculture cooperation, cooperation in regional and multilateral forums and most importantly explore ways to further strengthen bilateral ties of the two nations.

It is also expected that the President will take the opportunity to present his administration’s Public-Private Partnership (PPP) program to PM Abhisit and the Thai business community.

Dating back to 1949, bilateral relations between the Philippines and Thailand are among the most robust and stable in the Asian region.

The DFA noted that the two countries have regular exchanges of high-level government visits, healthy trade and investment environments that have encouraged major Philippine and Thai companies to invest in each other’s countries, and friendly people-to-people interactions that have promoted closer social and cultural understanding between and among their citizens.

He will then also meet the Filipinos living and working here in Thailand to personally thank them for their hard work and ability to participate in the Kingdom's economic growth and development

 

Aquino meets with top Thai business execs during his 2-day state visit to Thailand

President Benigno S. Aquino III will be meeting with top Thai business groups as part of the agenda of his 2-day state visit here on May 26 to 27 aimed at further strengthening the long-standing bilateral ties between the two countries.

The President is scheduled to meet with Thai key business executives of prominent business companies that include the Charoen Pokphand (CP) Group, Siam Cement Group (SCG), and Petroleum Authority of Thailand (PTT) Public Company Limited.

First to meet with the President are leaders of the CP group led by its chairman and Chief Executive Officer (CEO) Dhanin Chearavanont, president and CEO of CP Foods PLC Adirek Sripratak and senior vice president CP Foods PLC Pinij Kungvankij.

Following the CP group, the Chief Executive will be meeting with Siam Cement Group (SCG) president and CEO Kan Trakulhoon, SCG vice president for finance and investment Chaovalit Ekabut, vice president for corporate administration Aree Chavalitcheewingul, SCG Paper president Roongrote Rangsiyopash, SCG Building Materials president Pichit Maipoom and corporate planning director Bunn Ksemsup.

President Aquino will also be meeting with PTT Public Company Limited president Prasert Bunsumpun, executive vice president Chavalit Punthong and senior vice president Sarun Rungkasiri.

Founded in 1921 by the Chia brothers, the CP Group is currently one of Asia’s leading conglomerates, with businesses and affiliates operating within the agribusiness, retail and telecommunications markets. It currently employs over 250,000 people. In the year 2009, CP group’s sales were recorded at 18 billion US dollars.

SCG, Thailand’s top company for the third consecutive year from the Asian Wall Street Journal was established nearly 100 years ago following a Royal Decree of His Majesty King Rama VI, as a means to eliminate reliance on imports of cement, as well as taking fuller advantage of the natural resources available in the country.

On the other hand, the PTT was established on December 29, 1978 where the period of the second world crisis of petroleum shortages. Since its establishment, PTT played an important role in solving the second world oil problem.

President Aquino will be arriving at the Suvarnabhumi International Airport in Bangkok on Thursday, May 26 where he and his delegation will be welcomed by both Thai and Filipino officials.

 

Aquino all set for bilateral meeting with Thai Prime Minister

The president will be attending to a busy schedule as he embarks on a 2-day state visit to the Kingdom of Thailand on May 26 to 27, which aims to further strengthen bilateral ties between the two countries.

Upon the invitation of Thai Prime Minister Abhisit Vejjajiva, President Aquino will depart for Bangkok via Philippine Airlines flight PR730 on Thursday, May 26. The President and his delegation are expected to arrive at the Suvarnabhumi International Airport past noon where they will be welcomed by Thai officials led by Deputy Prime Minister H. E. Trairong Suwannakhiri, Chief ProtocolOfficer of the Thai Ministryof Foreign Affairs Bansarn Bunnag, and other Thai government officials.

Also expected to be part of the welcoming party are Philippine officials led by Philippine Ambassador to Thailand Linglingay Lacanlale, Philippine Embassy Deputy Chief of Mission Maria Teresa Taguiang and Defense and Armed Forces Attache Col. Manuel Gonzales.

Topping the line up of activities of the President is a bilateral meeting with Prime Minister Vejjajiva where the two leaders are expected to discuss several issues that include combating drug trafficking, agricultural support, cooperation in regional and multilateral forums and exploring ways to further strengthen ties between the two nations.

Right after the event, the two leaders will hold a joint press conference to share and discuss with the members of the local and international media the issues they have tackled and agreed upon.

An official dinner at the Outer Santi Maitri Building will be hosted by Prime Minister Vejjajiva in honor of President Aquino.

The Chief Executive will also be conferred with an Honorary Doctorate Degree in Economics by the Kasetsart University, one of Thailand’s leading public universities. The conferment will be led by university president Vudtechai Kapilakanchana.

Now a national research university after being endorsed by the Commission on Higher Education of Thailand, Kasetsart University is envisioned to become “the world’s leading research academic institutions in agriculture, food, technology and innovation.”

The President will also pay a visit to His Majesty King Bhumibol Aduljadej at Siriraj Hospital in Bangkoknoi, Bangkok where he will sign the well wishing book for the King’s speedy recovery.

Touted as the world’s longest-ruling monarch, the 82-year old king’s health has substantially improved but Queen Sirikit reportedly said that he still needed further treatment.

King Bhumibol, Thailand's sole unifying figure through decades of on-off political upheaval, has been receiving physical rehabilitation at the Siriraj Hospital since September last year for fatigue and lung inflammation.

President Aquino will also be meeting with the Filipino community in Thailand. Data shows that as of December 2010, there are at least14,910 Filipinos residing and working in Thailand as english teachers, musicians, corporate executives and administrative and technical staff of the United Nations agencies and other international organizations.

Following his meeting with the Filipino community, the President will leave for Manila ending his 2-day official visit to the country

 

 

World Bank: Philippines & the Asia Pacific Dollar remittances higher amid inflation

The Asia Pacific Region – Map (A formation of a standing roaster)

Despite its ballooning inflation rate, the Philippines posted the second highest growth of remittances among developing countries for 2010, the World Bank said in a report released to the Philippine media Tuesday.

In the World Bank Outlook for Remittance Flows for 2011 to 2013, economists Sanket Mohapatra, Dilip Ratha, and Ani Silwal reported that remittances to the Philippines, adjusted for inflation in local currency terms, grew by -1.4 percent in 2010. The top performer in this area was China, which grew by 1 percent.

Published under the World Bank Migration and Development Brief on Monday, the report places these figures in the context of the “quick" recovery of developing countries from the 2008 global financial crisis.

“Officially recorded remittance flows to developing countries recovered quickly to $325 billion in 2010 after the global financial crisis," the World Bank explained. “But they have not kept pace with rising prices in recipient countries."

Overall, the World Bank said remittances to developing countries grew 5.6 percent in US dollar terms in 2010, “but grew by a smaller 3.9 percent after accounting exchange rate changes, and fell by 2.7 percent after adjusting for inflation."

In 2010, the Philippines’ inflation rate grew to 3.8 percent from 3.2 percent in 2009, according to the National Statistics Office.

 

Philippines among top recipients

With $21.4 billion in remittances, the Philippines took the fourth largest share of remittances among developing countries in 2010, the WB said. The largest recipient was India with $53.1 billion, followed by China with $51.3 billion, and Mexico with $22 billion. It shows that the strong performing economy of the Philippines tried to race with the Giants Economies like China, India and Mexico.

In US Dollars, the World Bank said remittances to the Philippines grew by 8.1 percent in 2010 — the fourth largest growth in US-dollar terms, next to Vietnam with 17 percent, Lebanon with 11.3 percent and Pakistan with 11.1 percent. The Philippines’ growth in this area ties with that of Egypt.

In local currency terms, the Philippines fared as the 8th among the 10 largest recipient countries in 2010, the World Bank said. The country posted a growth of 2.3 percent in this area, trailing Vietnam, Pakistan, Lebanon, Egypt, Nigeria, China, and Bangladesh.

“The reduction in local currency value of remittances implies hardship for recipients, and increased pressure on migrants to send more to maintain the purchasing power of their remittances," the World Bank noted.

For the East Asia and Pacific region, which includes the Philippines, the World Bank projected a growth of 6.8 percent in remittance inflows last year, 8 percent for 2012, and 9.5 percent for 2013.

“Given the volume of remittances flowing to developing countries, innovative financing tools such as diaspora bonds and remittance-backed bonds are being viewed as potential sources that can finance infrastructure and development projects at lower cost and longer maturities," the World Bank added.

 

Effect of Middle East, North Africa crisis

The multilateral bank also said the effect on migration of the political turmoil in parts of North Africa and the Middle East “appears to have been largely localized within the region."

“Outside the North Africa and Middle East region, the remittance recipient region that could be affected by the crisis is South Asia," the WB said.

However, the bank noted a “lack of reliable and high-frequency data on both migration and remittances during the crisis in North Africa and the Middle East."

“Basic facts on the impacts of the crisis for migrants and recipient countries are simply not available," the World Bank said. “There is urgent need for rapid monitoring systems in both migrant-sending and -recipient countries through improved data collection and dissemination of high-frequency data on migration and remittances."

Earlier this month, the Bangko Sentral ng Pilipinas reported that overseas Filipino workers’ remittances rose by 5.9 percent in the first quarter of 2011 amid earlier fears of a decline due to the political unrest in Middle East and North Africa, and the disasters in Japan

 

teh Philippines PNR - 2 Billion investment for Mayon Volcano Tain offer World Class train amenities

PNR restoring South Luzon railways

the Philippines: The train service that can take travelers from Metro Manila to Naga City in under 10 hours is set to make a comeback in the next few months, promising to help the Bicol Region maximize its immense potential for economic growth.

The state-run Philippine National Railways (PNR) has been working on the Manila-Naga rehabilitation since the start of the Aquino administration.

Following a test-run earlier this month, the PNR on Wednesday declared that the dream of reviving the fabled “Bicol Express” could soon be a reality.

“In my assessment, the Bicol test-run we conducted was 95-percent successful and we are nearing our objective to put back in operation the commercial PNR trips to the Bicol region,” PNR General Manager Junio Ragragrio said.

“We were delighted to reach Naga City from Manila in less than 10 hours. We were even more in high spirits on our return trip to Manila the following day since it only took us nine hours going back,” he said.

The 10-hour mark had become the PNR management’s yardstick because it takes an average of 10 hours to get to Bicol from Manila by bus. Making it in less time means the PNR train service can become an alternative means of transport for people who cannot afford to go by plane.

He said the resumption of the Bicol Express would open doors of opportunities ranging from boosting local tourism to stirring up economic activities in Southern Luzon.

 

Trains could help for tourist access – Southern Luzon Tourist Destination

The popular tourist destinations in the Bicol area include the Camsur Watersports Complex (CWC) in Camarines Sur. Mayon Volcano, known for its near-perfect cone shape, is also in Bicol.

Another eco-tourism destination is the town of Donsol in Sorsogon, where tourists are able to swim with whale sharks.

Several projects were on the table for the Bicol Express route, including the renovation of several train stations traversing the provinces of Laguna, Quezon, Camarines Sur and Albay.

“The PNR would like to be among the major catalysts and a partner in the further development of the country connecting provinces via a comprehensive railway system,” he said.

“The railways system during the early growth of this nation during the Spanish and American times was the very backbone of social and economic progress. It was done before and it can be done again,” he said.

The test-run was conducted during the weekend using a newly refurbished locomotive train with several tourist-class coaches and covered a distance of more than 400 kilometers.

Earlier, PNR would spend P1.8 billion for the rehabilitation of the train line. About P200 million would go to the acquisition of new trains and rehabilitation of existing ones.

 

PNR World Class train amenities

The rest would be spent to fix the 400-kilometer stretch of track from Manila to Bicol that had deteriorated and become unusable in the past few years due to neglect.

He said train cars called “sleeper coaches” were used during the test-run to check its journey worthiness. All train coaches in the Bicol Express will be air conditioned, he said.

Also included in the test-run was a locally refurbished passenger coach with several reclining chairs with a fit and finish comparable to imported train cars. It has better amenities to compete with imported first-class air-conditioned bus.

We are offering three classes of train cars once we start operations of the Bicol Express. We have the tourist class where we have reclining chairs with more leg room compared to commercial buses”.

The newly installed amenities should help attract more passengers to use the train line, which he sees as a better alternative to busses.

Other amenities include widescreen LCD monitors with state-of-the-art sound system to allow passengers to comfortably watch movies during the long trip.

We also have two types of sleeper coaches. One is a family suite that is good for a family or ‘barkada’ of four to six persons. And we also have the executive class for passengers who would like extra privacy during the lengthy tour, and part of the attraction is the inclusion of a dining car with an ambiance of first-class restaurant.

 

Energizing the $2 Billion US Dollar Bataan Nuclear Power Plant - Philippines

The Bataan Nuclear Power Plant, which has lain dormant since it was completed in 1984 at a cost of $2.3 billion US Dollar, will be opened to tour groups to teach them about nuclear power, said regional tourism director Ronald Tiotuico.

Tiotuico said the move was timely amid increased public interest in the issue following the crisis at the Fukushima nuclear power plant in Japan, caused by a huge earthquake and tsunami on March 11.

"It's a learning experience. You can see all the machinery, all the equipment and learn what happened in Fukushima and how it will not happen in Bataan," he told AFP.

He stressed that the plant was safe as the uranium fuel had been removed long ago.

The 620-megawatt plant, located in Bataan province about two hours' drive from Manila, was built under then-president Ferdinand Marcos to help deal with energy problems following the oil price crises of the 1970s.

But after Marcos was overthrown in a popular revolt in 1986, his successor Corazon Aquino refused to put it into operation, citing safety concerns such as the plant's location near an earthquake fault and active volcano.

It has since become a huge white elephant, costing the government millions of dollars in maintenance.

About the Bataan Nuclear Power Plant (Philippines)

Bataan Nuclear Power Plant is a nuclear power plant, completed but never fueled, on Bataan Peninsula, 100 kilometers (60 miles) west of Manila in the Philippines. It is located on a 3.57 square kilometer government reservation at Napot Point in Morong, Bataan. It was the Philippines' only attempt at building a nuclear power plant. It stands on a 357-hectare lot owned by the government. The plant is only 9 kilometers away from a dormant volcano called Mt. Natib. Because Mt. Natib stands between the Philippine Fault and the West Luzon Fault, seismic activity is likely to occur in the area and plant operation is deemed unsafe.

During the plant's construction, a Westinghouse light water nuclear reactor was installed. Had the plant been operational, the equipment would have used pressurized water to generate steam from the nuclear reactor's heat.

The reactor was capable of holding 1878 megawatts of heat energy. It would have generated approximately 621 megawatts of electricity.

The technology the plant was supposed to operate on was from the 1970s. Following the US Nuclear Regulatory Commission, however, it was further improved in order to prevent incidents like the Three-Mile Island nuclear accident that took place in March 1979.

It was commissioned by president Ferdinand Marcos and building commenced in 1976. The plant's construction was completed in 1984.

When Marcos was overthrown and replaced by Corazon Aquino, the nuclear power plant project was scrapped. The Chernobyl accident of 1986 had the public protesting against the plant's operation. Another major concern is that the nuclear plant is located in an area where earthquakes are likely to occur.

To this day, the Bataan Nuclear Power Plant has remained unused. Up until April 2007, the Philippine government had to pay 155,000 dollars every day to pay for the loan that funded the power plant's construction.

History of the Philippine Nuclear Energy Program

In 1958, the Philippine Atomic Energy Commission (PAEC) was established in accordance with Republic Act 2067 which was supported by President Carlos P. Garcia.

In 1973, the Philippine economy was under a lot of pressure due to the oil crisis. With the intention of finding an alternative energy source, Marcos decided in July of that year to construct a nuclear power plant.

Workers started building the power plant in 1976. Construction was put on hold in 1979 because of the Three Mile Island accident that happened in the United States. A survey of the unfinished power plant showed that it had more than 4,000 defects. It was also pointed out that one of the biggest safety issues behind the BNPP's construction was that its location was prone to earthquakes.

The BNPP was finally completed in 1984. Its construction cost the government $2.3 billion. With its Westinghouse light water reactor, BNPP was supposed to generate 621 megawatts of electric energy.

In 1986, the Marcos Regime ended and Aquino was installed into the presidency. In April of that same year, the Chernobyl disaster happened. This was one of the major reasons Aquino did not push through with the operation of the BNPP.

The Philippine government tried to legally charge Westinghouse Electric Co. for fraudulent schemes in the installment of the Westinghouse nuclear reactor. However, the United States court turned down the case.

Succeeding administrations were strained to pay off the debt incurred for the BNPP's construction. They also tried to come up with ways in order to convert the nuclear power plant into a fossil fuel-based energy source, but such plans were deemed economically infeasible.

In 2008, a team of surveyors led by Akira Omoto was commissioned to survey the BNPP for possible rehabilitation. The Philippine government is waiting on the team's report.

History of the Bataan Nuclear Power Plant

The Philippine nuclear program started in 1958 with the creation of the Philippine Atomic Energy Commission (PAEC) under Republic Act 2067. Under a regime of martial law, Philippine President Ferdinand Marcos in July 1973 announced the decision to build a nuclear power plant. This was in response to the 1973 oil crisis, as the Middle East oil embargo had put a heavy strain on the Philippine economy, and Marcos believed nuclear power to be the solution to meeting the country's energy demands and decreasing dependence on imported oil.

Construction on the Bataan Nuclear Power Plant began in 1976. Following the 1979 Three Mile Island accident in the United States, construction on the BNPP was stopped, and a subsequent safety inquiry into the plant revealed over 4,000 defects. Among the issues raised was that it was built near major earthquake fault lines and close to the then dormant Mount Pinatubo.

By 1984, when the BNPP was nearly complete, its cost had reached $2.3 billion. Equipped with a Westinghouse light water reactor, it was designed to produce 621 megawatts of electricity.

Marcos was overthrown by the People Power Revolution in 1986. Days after the April 1986 Chernobyl disaster, the succeeding administration of President Corazon Aquino decided not to operate the plant. Among other considerations taken were the strong opposition from Bataan residents and Philippine citizens.

The government sued Westinghouse for overpricing and bribery but was ultimately rejected by a United States court. Debt repayment on the plant became the country's biggest single obligation. While successive governments have looked at several proposals to convert the plant into an oil, coal, or gas-fired power station, these options have all been deemed less economically attractive in the long term than simply constructing new power stations.

2000's

Despite never having been commissioned, the plant has remained intact, including the nuclear reactor, and has continued to be maintained. The Philippine government completed paying off its obligations on the plant in April 2007, more than 30 years after construction began.

On January 29, 2008, Energy Secretary Angelo Reyes announced that International Atomic Energy Agency (IAEA) 8-man team led by Akira Omoto inspected the mothballed Bataan Nuclear power station on rehabilitation prospects. In preparing their report, the IAEA made two primary recommendations. First, the power plant's status must be thoroughly evaluated by technical inspections and economic evaluations conducted by a committed group of nuclear power experts with experience in preservation management. Second, the IAEA mission advised the Philippines Government on the general requirements for starting its nuclear power program, stressing that the proper infrastructure, safety standards, and knowledge be implemented. The IAEA's role did not extend to assessing whether the power plant is usable or not, or how much the plant may cost to rehabilitate. On February 1, 2010, National Power Corporation (NAPOCOR) started evaluating the financial plan of Korea Electric Power Corporation (KEPCO), assessing that it may cost $1-billion to rehabilitate the nuclear plant.

On February 22, 2011, the Philippine government will reimburse the National Power Corporation (NAPOCOR) 4.2 billion (US$96 million) it spent for maintaining the mothballed Bataan Nuclear Power Plant. It requires an average of 40 million a year just to maintain it. In May 2011, it was announced that the plant would be turned into a tourist attraction.

 

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