Filipinos in South Korea

Taiwan protests over Philippine plan for Spratlys – PHL Draft 4 Strategic Actions

Taiwan protested Tuesday over a Philippine plan to explore oil and gas in disputed waters in the West Philippines Sea (South China Sea) where Taipei claims sovereignty.

"The Reed Bank is part of the Spratly islands... and we reject any claim or occupation by any means of the islands and the surrounding waters," the foreign ministry said in a statement.

It is already pronounced by the Philippines President Aquino that Reed bank is not part of the Spratlys and must be excluded from the disputes.

Recto Bank is 92.60 KM or 57.539 Miles distance from Palawan main Island, Province of the Philippines.

Philippines ownership of the Reedbank and 80% of the whole Spratlys archipelago is based on the UNCLOS international Laws of sea that guaranteed of 200 Nautical Miles Exclusive Economic Zone or 230.156 Miles (370.40 Kilometers)

[to compute the and convert the distance is 1 Nautical Miles (NM) = 1.8520000 Kilometers (KM) = 1.1507794 Miles(M)]

According to the ministry, the Philippines is planning to accept bidding to explore and drill for oil and gas in the Reed Bank.

Taiwan, Vietnam, Brunei, China, Malaysia, and the Philippines claim all or part of the Spratlys, which could lie on top of large oil reserves.

All claimants except Brunei have troops based on the archipelago of more than 100 islets, reefs and atolls, which have a total land mass of less than five square kilometers (two square miles).

The Taiwanese coastguard currently has a 130-strong garrison on Taiping, the biggest island in the Spratlys archipelago.

Taiwan's security chief has called for Taipei to commit more military resources in the Spratlys, reacting to reports that rival claimants to the disputed waters are building up their armed presence.

Spratlys Archipelago is part of the territory of the old Sultanate State of Sulu which is currently under the Philippines government.

80% of the Whole Spratlys Archipelago is within 200 Nautical Mile exclusive economic zone of the Philippines.

Military's chief spy pushes security policy for Spratlys

A SENIOR military official has recommended the crafting of a national security policy that would address the issues involving the Spratly Group of Islands and reinforce the country's claim over the disputed islands on the South China Sea.

In a paper, titled "Strategy of Indirect Pressure: A National Security Strategy on the West Philippine Sea [Spratlys]," Maj. Gen. Francisco Cruz, Armed Forces deputy chief of staff for intelligence (J-2), lamented that despite the existence of the long- standing dispute among the five claimant countries and China's aggressiveness, the National Security Council has not drafted a national security strategy that would directly address the Spratlys issue.

"In July 1999, four years after the discovery of  Chinese structures on Mischief Reef [located within the country's exclusive economic zone], the task of formulating the strategy was delegated to the Cabinet Committee on Maritime and Oceanic Affairs (Cabcom-MOA) chaired by the secretary of foreign affairs.

"Today, the government is still bereft of a coordinated strategy that would employ the country's elements of national power to assert sovereignty and protect its interest in the West Philippine Sea [Spratlys]," Cruz said.

He, however, noted President Aquino's declaration of "what is ours, is ours" in relation to the country's claimed territory on the West Philippines Sea (South China Sea).

4 strategic actions

CRUZ recommended four strategic actions that would counter China's aggressiveness and "gunboat diplomacy," and fortify the country's foothold on the South China Sea.

These are psychological ploys, diplomatic maneuvers, intelligence support and interagency cooperation through the creation of a National Maritime Enforcement Agency that he recommended to be headed by a senior Navy officer who would have the priority in the use of military assets.

In the same paper, Cruz said he believed that China will not attack other claimants just to enforce its claim, because it would be isolated by the Association of Southeast Asian Nations and will have to face two fronts: the Taiwan Strait and the Spratlys.

Presence of US forces in the Philippines

Cruz said the country has a security policy on the disputed territory, but this was only during the time of the late former President Ferdinand Marcos. It, however, disappeared with the exit of American forces when the former Clark Air Base and the Subic Naval Base were closed.

He noted that in April 1983, then- Prime Minister Cesar Virata warned all claimants that any attempt to reclaim the Kalayaan Island Group in the Spratly group would be considered as "an assault against the Republic of the Philippines and would receive appropriate response."

"Such policy was reasonable at that time because of the Philippines's close security relationship with the United States, [as] greatly evidenced by the presence of the latter's military bases in the country," he said.

Cruz said that in 1978, Marcos even issued Presidential Decree 1596 that officially declared the Kalayaan Island Group as part of the country's territory by reason of "history, indispensable need and effective control and occupation."

In view of the policy, the Armed Forces Western Command (Wescom) was even activated in 1976 or two years earlier before the presidential decree was issued to keep the occupation of the KIG and defend existing oil explorations in the area.

At present, while the country lacks a national security policy governing the Spratlys, it was anchoring its claim on four policy foundations and these are the 1982 United Nations Convention on the Law of the Sea (UNCLOS), the 1992 Manila Declaration, the 1995 RP-China Code of Conduct and 2002 Asean-China Declaration on the Conduct of Parties in the South China Sea.

Under Unclos, 80 percent of the KIG and its surrounding maritime areas fall within the country's exclusive economic zone.

China's incursions

CRUZ said the lack of a national security policy may have abetted Beijing's ongoing act of transforming the Spratlys into a "Chinese lake," noting the repeated violations of China of the country's EEZ.

These are the occupation of Mischief Reef in 1995; the March 2, 2011 Reed Bank incident which is located 144 nautical miles west of Palawan; the harassment of four Filipino fishing vessels by a Chinese warship at the Quirino Atoll which is located 180 nautical miles off Palawan; the construction of a tide staff at the Amy Douglas Bank on May 29, 2011 and at Rajah Soliman Reef on June 5, 2011; the sightings of unidentified fighter jets over Amy Douglas and Investigator Shoal on May 5 and June 4, 2011, and the presence of People's Liberation Army Navy vessels near Amy Douglas on May 24, also last year.

Cruz said that in the Quirino Atoll incident, the Chinese frigate even told the Filipinos over the radio: "This is Chinese warship 560. You are in the Chinese territory, leave the area immediately."

Other than the absence of security policy, Beijing's intrusions into the country's territory were also negated by the lack of assets by the Western Command to ward off such violations.

"The operational strategy dictates the military's Western Command to guard against foreign intrusions within the country's EEZ and protect oil exploration, through naval patrols, intelligence and aerial reconnaissance," Cruz said.

But he also added, "Today, Wescom is still burdened by the inadequacy of air and sea power assets since its activation in 1976."

Cruz noted that the laxity of assets puts into question the capability of the Wescom to protect the country's interest in the Spratlys and demonstrate military deterrence.

He said until President Aquino's decision to modernize the military through Defense Secretary Voltaire Gazmin, the long-standing dispute has not accelerated the modernization of the Armed Forces.

Philippines Gross Int'l Reserves GIR surge 6 Notches rank 25th Global Ranking - Economy resilient

The Bangko Sentral ng Pilipinas (BSP) has identified four countervailing forces that would help the Philippines survive the weak global demand amid the fragile economic growth in advanced economies led by the US as well as the sovereign debt crisis in Europe.

BSP Governor Amando Tetangco Jr. said the country's strong external payments position, resilient banking system, demographic dividends, and manageable inflation would serve as countervailing forces to offset weak global demand.

"The country enjoys three... no, four factors that have become countervailing forces to offset the slack in external demand that we now face (because of the volatile global market)," Tetangco stressed.

He pointed out that the favorable external sector dynamics would continue to be a source of strength for the Philippine economy.

He said sustained foreign exchange inflows, including remittances of overseas Filipinos and earnings from the business process outsourcing (BPO) sector have provided the BSP the opportunity to build up its international reserves.

Once the revitalized tourism program of the national government goes into full swing, Tetangco said the country's external liquidity position would improve even more.

"This will further enhance the country's self-insurance. The BSP maintains a policy of a market-determined exchange rate, with scope for official action only against excessive rate movements. With the varying effects of exchange rate movements on different economic sectors, this policy has proven to be most equitable and efficient for the overall economy," he said.

The BSP sees the country's gross international reserves (GIR) - the sum of all foreign exchange flowing into the country - hitting a new all time high of $79 billion this year from $75.3 billion last year. As of February 2012, Philippine Gross International reserves surges up 6 notches world rank from 31 to rank 25 of $77.766 Billion US Dollar. It also expects the balance of payments (BOP) surplus stabilizing at $2.8 billion this year from $10.9 billion last year. The BOP position refers to the difference of foreign exchange inflows and outflows on a particular period and represents the country's transactions with the rest of the world.

The BSP chief also cited the country's banking system that continued to remained stable amid the mounting challenges posed by the current global economic conditions.

"The reforms - which were instituted well ahead of this crisis — paved the way for banks to enhance their risk management systems, adopt international accounting standards and improve transparency and disclosure to clients. These have, in turn, promoted well-capitalized, better-governed, and ... profitable banks," Tetangco said.

He pointed out that the bank regulator does not foresee a significant adverse impact on banks even if the BSP announced an accelerated adoption of higher capital requirement under the Basel 3 framework starting January 2014 as the industry's capital adequacy ratio (CAR) stood at 17 percent way above the BSP treshhold of 10 percent and the international standard of eight percent.

He also noted the country's demographic dividends and domestic consumption continued to be fuelled by strong remittances from Filipinos working abroad.

'We have a vibrant, young, skilled, ready-to-consume population. The country's domestic consumption has certainly continued to buoy our economic growth. Consumption has also remained to be underpinned by strong remittances from overseas Filipinos and receipts from the BPO sector," he added.

According to him, the country's inflation remained manageable and is expected to fall within the mid-point of the BSP target of three percent to five percent this year and next year.

Monetary policy has certainly been successful in providing just the right amount of domestic liquidity.. to fund the productive sectors of the economy. This favorable inflation outlook has allowed BSP to accommodate economic growth, without fuelling an asset price bubble," Tetangco stressed.

The BSP's Monetary Board has so far slashed interest rates by 50 basis points this year due to benign inflation outlook and slower than expected global economic growth. The 25 basis point reduction last January 19 followed by another 25 basis point cut last March 1 brought the overnight borrowing rate back to a record low of four percent and the overnight lending rate at six percent.

The Cabinet-level Development Budget Coordination Committee (DBCC) sees the country's gross domestic product (GDP) growing between five percent and six percent this year after slackening to 3.7 percent last year from 7.6 percent in 2010 due to weak global trade and cautious spending by the Aquino government.

"Given all these factors, I believe there is basis for continued optimism on the country's growth prospects," the BSPchief said.

Philippines will launch Real Time Solution PBR Online Business Registration portal


In a statement, the department said PBR offers a "real time solution" for entrepreneurs who need to transact with several agencies prior to starting a business.

The Department of Trade and Industry (DTI) will launch the Philippine Business Registry (PBR) at the Securities and Exchange Commission (SEC) Office in Mandaluyong City on 12 March 2012, Monday, to provide a faster and more efficient service to those who will set up a corporation and partnership.

The launching of PBR will be led by DTI Secretary Gregory L. Domingo, together with Undersecretary Zenaida Maglaya, SEC Chairperson Teresita Herbosa, and other DTI and SEC Officials.

Entrepreneurs Do NOT need to go to each agency to register their businesses as they are interlinked thru the PBR. These line agencies include the DTI, SEC, Bureau of Internal Revenue (BIR), Social Security System (SSS), Home Development Mutual Fund (PAG-IBIG), and Philippine Health and Insurance Corp (PhilHealth)

The process eliminates red tape, and streamlines business registration.


IN a bid to speed up business registration in the country, the Philippine government has launched the Sole Proprietorship New Registration (SPNR) module of the Philippine Business Registry System (PBRS).

The Philippine Business Registry (PBR) is a government-initiated web-based system that will facilitate business registration-related transactions by integrating all agencies involved in business registration The SPNR allows registration to the Department of Trade and Industry (DTI), Securities and Exchange Commission (SEC), Cooperative Development Authority (CDA), Bureau of Internal Revenue (BIR), Social Security System (SSS), Home Development Mutual Fund (Pag-IBIG), Philippine Health Insurance Corporation (PhilHealth), Local Government Units (LGUs) and other permit/license-issuing agencies.

However, application through a teller at the DTI offices is also available. This involves submission of a filled up application form which may be downloaded from the website or completed and printed by the public online for submission to the PBR kiosks or tellers.

The DTI also announced the fees for registering a New Business Name (BN) New Business Name (BN) registration fees in effect; the Department of Trade and Industry (DTI) is now implementing the following registration fees for business name registration (original and renewal) depending on the territorial jurisdiction covered in the application:

  • For Barangay Areas- 200.00 PHP (Approx. $4.7 USD)
  • City / Municipality- 500.00 PHP (Approx. $11.7 USD)
  • Regional / Provincial Capital- 1,000.00 PHP (Approx. $23.5 USD)       
  • Metro Manila /NCR-   1,000.00 PHP (Approx. $47 USD)

For more information, please call DTI Direct at (+63-2) 751.3330.

Those who wish to register their business can go the nearest DTI office or the LGUs in Metro Manila, fill up the application form and in less than 30 minutes, applicants can get their Business Name Registration, Taxpayer Identification Number (TIN), and Employer Registration Numbers for PhilHealth, SSS, and Pag-ibig, if they are applying as sole proprietorship.

To avail of PBR, applicants need to go to SEC Office and register their corporation/partnership. Then the applicant will proceed to the PBR kiosk located inside SEC's registration area and fill up the PBR Application Form, to be submitted to the teller for processing. The applicant should present their SEC Registration Certificate and Articles of Partnership/Corporation to the teller for verification.

The teller will submit the client's application to SSS, Pag-ibig, and PhilHealth. The applicants will still have to pick up their certificates or employer's registration numbers (ERNs) from the said agencies by presenting their PBR-generated ERNs. This alone saves them the time to line up.

It provides a faster process for business registration, thus strengthening the government's effort of providing quality service to the people and realizing its commitment to curb corruption and reduce red tape in the bureaucracy.

At present, sole proprietorships can already validate existing/register their Business Names (BNs) from the DTI, get or validate their existing Tax Identification Numbers (TINs) from the BIR and employer registration numbers from the SSS, PhilHealth, and Pag-IBIG through the PBRS.

The PBRS can be accessed via http://www.business.gov.ph

With fewer steps and faster process, PBR will be able to strengthen the government's effort of providing quality service to the people and realize its commitment to curb corruption and reduce red tape in the bureaucracy. Through the PBR, the country will become more attractive to investors and will improve our ranking in global competitiveness.

A program which seeks to make it easier for entrepreneurs to register their businesses launched by the Department of Trade and Industry (DTI) will go nationwide beginning this month.

Dubbed as the Philippine Business Registry (PBR), the trade department said the scheme will already be offered in its regional and provincial offices and at the head office of the Securities and Exchange Commission in Mandaluyong City.

The DTI said that local governments in Metro Manila such as Quezon City, Caloocan and Mandaluyong will also start offering PBR services in their city halls.

DTI Davao Region Director Marizon S. Loreto said this is milestone in business registration that entrepreneurs must take advantage of.

"Since this is a web-based system, this actually serves as a one-stop shop for entrepreneurs who would like to register their business wherein they don't need to visit these offices physically. Thus, business registration now costs less since transportation cost need not be considered anymore," Loreto said.

Loreto added that registration has also become convenient because it can be done anywhere there is internet access like internet cafés, DTI offices with designated PBR kiosks, or even right at their homes/offices.

For further inquiries about the PBRS, clients may call up the nearest DTI office in their areas. DTI Regional Office 11, in particular, can be reached at (+63-82) 224-0511 local 417 or 206. (DTI/Jen Mendoza)

Investment Recommendation: Bitcoin Investments

Live trading with Bitcoin through SimpleFX Trading platform would allow you to grow your $100 to $1,000 Dollars or more in just a day. Just learn how to trade and enjoy the windfall of profits. Take note, Bitcoin is more expensive than Gold now.


Where to buy Bitcoins?

For Philippine customers: You could buy Bitcoin Online at Coins.ph
For outside the Philippines customers  may buy Bitcoins online at Coinbase.com