PHL Navy & Coast Guard Standby – ready for Deployment to Spratlys Island

The military is ready to assist the Philippine Coast Guard (PCG) in enforcing the country's maritime laws, but will only do so if ordered by higher authorities.

Armed Forces spokesman Col. Arnulfo Burgos Jr. stressed Tuesday (July 17, 2012) that the PCG is the agency tasked to ensure that the country's laws are being followed.

"The maritime laws there (in the West Philippine Sea) are being enforced by the Philippine Coast Guard and whenever told to do so, we will be in the area," Burgos said in a press briefing.

"But as far as our constitutional mandate to protect the people and the state, we will continue to do that," he added.

Burgos was asked to react to reports that China has sent a big fleet of fishing vessels in the Paracel Islands which contested between Vietnam and China. Paracel is a separate group of Island closer to the shore of Vietnam.

Burgos said they would only comply with the directives issued to them by higher authorities.

"We are implementers. We just execute whatever order is handed down to us," Burgos said.

"Coordination between the Philippine Coast Guard and the Armed Forces of the Philippines is very critical," he added.

On Sunday (July 15, 2012) , a huge fleet of Chinese fishing vessels arrived at the contested parts of the West Philippine Sea, in what observers view as an effort to assert Beijing's claim over the area.

China's state-owned news agency Xinhua said the fleet of 30 fishing vessels from Hainan province arrived near Yongshu Reef on Monday afternoon (July 16, 2012).

The fleet reportedly includes a 3,000 ton supply ship and a patrol vessel and is said to be the largest ever launched from the province.

The fishing expedition in the area will last for five to 10 days, reports said.

The arrival of the fishing fleet in the Paracels Islands near the Spratlys came on the same day a Chinese warship that ran aground on a shoal off Palawan was successfully refloated after being assisted by vessels sent by Beijing.

The grounded ship - a Jianghu-class, Chinese guided-missile frigate – was removed from the Hasa Hasa (Half Moon) Shoal on Sunday and left the area on the same day.

Hasa Hasa Shoal, where the Chinese warship got stuck, is located about 60 nautical miles off Rizal town in Palawan Province.

The warship got stuck on the shoal last July 11, 2012 while conducting a routine patrol.

The Philippine media knew about the incident through a report released by Australian paper Sydney Morning Herald last Friday.

Philippine officials did not inform the public about the incident before the Sydney Morning Herald report was published.

The warship reportedly pinned itself to a reef at Hasa Hasa Shoal, on the southeastern edge of the hotly-contested Spratlys Islands.

The ship got stuck within the Philippines' 200-nautical mile exclusive economic zone, as determined by exclusive economic zone as provided by international law.

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QC Police relieved from post after blocking the President Convoy heading - La Mesa Dam

A Quezon City policeman was relieved from duty after he allegedly refused to give way to the convoy of President Aquino on Tuesday (July 17, 2012).

SPO2 Ricardo Pascua, on board his Mitsubishi Adventure, allegedly refused to give way to the president's convoy along Commonwealth Avenue even as several Presidential Security Group (PSG) personnel asked him.

The PSG said Pascua told them that he was a policeman, prompting them to bring the matter to Pascua's superiors.

Aquino was reportedly on his way to attend a program at the La Mesa Dam near Batasan.

Quezon City Police District (QCPD) Director Mario Dela Vega said Pascua has been relieved from his post at the QCPD Station 4.

Pascua, who has been working as a policeman for about 30 years, was also disarmed. He will be deployed to Camp Karingal where he will serve as a gate guard.

Pascua said he did not intend to disrespect Aquino and his security men and claimed he did not notice that he was blocking the president's convoy.

He extended his apologies to Aquino and members of the PSG.

Dela Vega said Pascua will also face summary dismissal proceedings.

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Philippines Targets $10 Billion in Foreign Investments

Gregory Domingo, Philippine trade secretary. Photographer: Edwin Tuyay/Bloomberg

The Philippines said it aims to boost foreign direct investments in call centers, factories and shipyards to more than $10 billion a year, as President Benigno Aquino strives to create jobs and bolster growth.

The Philippines received 24 business teams in the first half of the year from countries including Russia, Turkey and Japan, Trade Secretary Gregory Domingo said. Investors are keen on shipbuilding, agriculture, energy, steel, garments, and business process outsourcing, he said.

"The biggest thing that has improved our standing in the investment community globally has been President Aquino's governance," Domingo said in an interview in his office in Manila (July 15, 2012).

Aquino is winning confidence from investors and rating companies as he fights corruption and boosts infrastructure spending to transform the nation into a manufacturing hub in the region. Moody's Investors Service boosted its outlook on the Philippines to positive in May, when the country's top judge was impeached for illegally concealing his wealth, while Standard & Poor's this month raised the long-term foreign currency- denominated debt rating to the highest level since 2003.

The $225 billion economy expanded 6.4 percent in the first quarter, the fastest pace since 2010, and the peso is the best performer against the U.S. dollar among Asia's 11 most-traded currencies this year, having gained about 5 percent. The Philippine Stock Exchange Index (PCOMP) surged to a record this month.

The peso rose a third day today to 41.732 per dollar as of 9:27 a.m. in Manila. Benchmark bonds due March 2021 gained, with the yield falling to the lowest level since February, according to Tradition Financial Services.

'Tremendous Interest'

"When he first assumed office, there were still a lot of people who doubted he will really pursue" good governance, Domingo said. "But now, he has convinced everybody that he is sincere. We've seen tremendous interest in investment."

From 1970 to 2010, the Philippines drew $33.98 billion in foreign direct investment compared to $322.13 billion for Singapore and $108.87 billion for Thailand, according to the United Nations Conference on Trade and Development.

The Philippines lured about $6 billion in pledged foreign investments last year, and has drawn commitments from companies including Glencore International Plc and Gazasia Ltd. this year. Business groups from Mexico and Argentina are due to visit the country, Domingo said.

Bloomberg Business Week (Bloomberg News)

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