The Korean Government has extended USD 56.6 million in loans to the Philippines government for engineering services needed for the 32-kilometer Panay-Guimaras-Negros (PGN) Island Bridges Project. This loan will support the swift implementation of the much-anticipated...
The Philippine Navy, which has been retiring World War II-era ships since 2020, has been on a buying spree for replacement with brand-new and refurbished vessels. South Korea has been one of its leading partners in its massive endeavor. Korean shipbuilder, Hyundai...
South Korea will be funding an agriculture mechanization center in Nueva Ecija, a city located in the north of Luzon. The grand project broke ground last May, with the construction expected to start soon. The USD 5.78 million project will be funded through the Korea...
Nidec, a leading producer of motors found in hard disk drives, automobiles, and consumer and industrial equipment, would break ground for a new facility sometime in the third quarter of this year, according to the Department of Trade and Industry. The manufacturer...
First Philippine Holdings Corp. earmarked PHP 51 billion (USD 953.2 million) of its capital expenditures mainly to fund the expansion of its power generation and property businesses. According to a source, about 56% of its capex budget, or PHP 29 billion (USD 542...
SM Prime Holding Inc. (SM Prime), one of the leading integrated property developers in Southeast Asia, announced that it will develop greener buildings that provide holistic solutions, which not only reduce emissions but also promote social well-being. Today, real...
Pilmico’s retail brand, The Good Meat, targets to reach over 300 supermarket concessionaires and open more brick-and-mortar stores in 2022. This is in line with the goal of Pilmico Food Corporation (Pilmico), the Aboitiz Group’s food and agribusiness unit, to...
The Philippines’ Clark Development Corporation (CDC) and the Republic of Korea’s Land and Housing Corporation (LH) have recently signed an agreement looking to create a smart city infrastructure in the Philippines. The smart city will be built in the Clark Freeport...
BSP, the central bank of the Philippines, has recently announced that it will launch a pilot initiative for a Central Bank Digital Currency (CBDC), called project CBDCPh. It is estimated that around 40 countries are currently undertaking research on CBDCs, including...
SN Aboitiz Power Group (SNAP), a joint venture between Norwegian renewable power producer Scatec and Philippine peer AboitizPower, has signed construction and financing agreements for the development of its 20-megawatt battery energy storage system (BESS) project at...
Cleene Ethyl Alcohol, a trusted Filipino brand that provides high-quality and affordable alcohol products from Philusa Corporation, extends its effort in reducing ocean-bound plastic waste as it partners with the social enterprise, Plastic Bank Corporation. Cleene...
Several US companies have expressed interest to invest further in the Philippines, taking advantage of the incentives brought forth by recently enacted laws that liberalized foreign investments. Philippines’ economic, trade and industry officials held talks with...
