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Wednesday, May 7, 2014

USA to build-transfer Nuclear Technology to Vietnam, Mindanao Brownout up to 2016 - Plants close jobless rise, Philippines DOE NGA-NGA!..

David Shear, US ambassador to Vietnam (L), and Nguyen Quan, Vietnam’s Minister of Science and Technology clap their hands after signing a civilian nuclear pact in Hanoi on Tuesday. PHOTO COURTESY OF VIETNAMNET

 

Nuclear Power for Mindanao on study for 200 years research- DOST ??

 

Mindanao businessmen have appealed to the government to consider setting up a nuclear power plant in the region, which has been experiencing daily rotating brownouts  since 2010  and expected to last until 2016 or beyond.

 

If renewable are insufficient to meet the economy-driven burgeoning demand for power, we need even to look into nuclear power.  Most countries in the world with cheap electricity have nuclear power.”

 

President Benigno Aquino III has expressed openness to a proposal to use modern nuclear power technology in Mindanao to address the power shortage in the region.

 

Aquino said what is important is to ensure that whatever nuclear power plant is built in Mindanao will conform to international safety standards, citing the radiation case in Fukushima, Japan.

 

"We will study that," Aquino said in a press briefing on Monday.

 

Former lawmaker Mark Cojuangco, during the 2012 power summit in Davao City, has proposed the use of small modular reactors, a relatively new and supposedly safer form of nuclear power, for Mindanao.

 

"There is an ongoing study (on the possible use of nuclear power in Mindanao) by the Department of Science and Technology," the President said. (Interaksyon)

 

Commentary: If the Philippine Government is serious to solve the Blackout in Mindanao which expected to last for more than 6 years, then only Nuclear Power is the answer. USA could grant a build and transfer of nuclear Technology for Mindanao like Vietnam . How long would it takes for DOST to Study? The technology is already there.... then what's the contribution of DOST? To build its own NUCLEAR Plant that would last for 100 or 200 years research? Even Geothermal plant technology are imported then what's the capability of DOST to make its own Nuclear power plant?

 

Noynoy Aquino loves challenge right? yeah we all love challenges so face this Mindanao Problem Mr. President now!. Let the AFP handle the peace and order and DOE to work for Power crisis because majority of the people in Mindanao are living in peace and wants this blackout to end NOW!!

 

Manufacturing plants in Mindanao are keep on shutting down because of the continous black out and lay-off or fired many employees... resulting to continuously rising of JOBLESS in Mindanao. 

 

Mindanao is safe and less prone from earthquake than Luzon. Many parts of Mindanao are "Fault-line Free" which means it's safe to build nuclear plants in those areas .. and DOST knew it.

 

US to tap Vietnam’s nuclear power market under new pact

 

The United States and Vietnam Tuesday signed a deal on civilian nuclear energy that will allow the US to transfer technology and sell its reactors to the Southeast Asian nation.

 

The so-called “123 agreement” was signed by US ambassador to Vietnam David Shear and Vietnam’s Minister of Science and Technology Nguyen Quan in Hanoi, under the authorization of President Barack Obama and Prime Minister Nguyen Tan Dung.

 

“This agreement will create opportunities for Vietnam to access the US modern technology in the nuclear power field, as well as pave the way for US companies to invest in Vietnamese market,” said Nguyen Quan.

 

Meanwhile, David Shear said the pact would build a solid foundation for the cooperation between Vietnam and the US in the civil nuclear sector.

 

Vietnam is pursuing nuclear energy in order to deal with its present shortage of energy. The country hopes nuclear power to provide more than 10 percent of its total power generation needs by 2030.- Thanh Nien News

 

Sunday, May 4, 2014

Philippines debt-to-GDP ratio dropped from 40.6% in 2012 to 39.2 % in 2013

photo: interaksyon.com

 

Philippines - The ratio of government debt to gross domestic product eased further to 39.2 percent last year from 40.6 percent in 2012.

 

In a report, the Department of Finance said the government’s debt to GDP declined to ₱4.53 billion as of the end of December 2013.

 

Government debt to GDP, which peaked at 78.1 percent during the Asian financial crisis in 1997, has been on a downward trend in the past few years as the Aquino administration stepped up efforts to manage the country’s debt.

 

Generally, government debt as a percent of GDP is used by investors to measure a country’s ability to make future payments on its debt, thus affecting its borrowing costs and government bond yields.

 

This continuing trend of decreasing general government debt-to-GDP ratio shows government’s efforts to ensure sustained fiscal space throughout the medium term.

 

The decrease in government debt level was attributed to the ongoing fiscal consolidation with deficit accounting for only 1.3 percent of the country’s total economic output.

Apart from this, the government took advantage of broadly favorable domestic funding conditions in 2013 to redenominate away from foreign currency debt.

 

Of the P554.7-billion gross borrowing for the year, 94 percent came from the domestic market while the remaining six-percent comprised concessional foreign loans from development partners.

 

This helped reduce the foreign debt component of government debt to only ₱1.95 trillion or 34.3 percent of the total outstanding debt.

 

A decrease of local government debt to ₱71 billion from ₱73.4 billion likewise helped trim the ratio.

 

The intra-sector debt holdings of local government also declined to ₱3 billion from ₱3.1 billion.

 

Under the consolidated general government debt, the obligations of the Philippine government, the Central Bank Board of Liquidators, social security institutions (SSIs) and local government units are taken into account.

 

The consolidated debt also nets out public holdings of government securities, including the Bureau of the Treasury’s bond sinking fund (BSF).

 

The combined investment in government securities of the GSIS and the SSS, meanwhile, rose to ₱474.6 billion from ₱453.7 billion in 2012. - PhilSTAR

 

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