The City Government of Manila formally inaugurated the new PHP 2.3 Billion (USD 41 million) Bagong Ospital ng Maynila on June 24, 2022, after it broke ground on June 2020. The Bagong Ospital ng Maynila is a 10-storey, modern, tertiary hospital. It has a 384-bed...
Cosco Capital, Inc. has approved and signed a joint venture agreement with Siam Global House Public Company Limited to operate a one-stop warehouse for building and construction-related materials, home and garden decorative goods, home improvement goods, construction...
On the last week of June 2022, the Philippine Department of National Defense (DND) and South Korean shipbuilder Hyundai Heavy Industries (HHI) signed the PHP 30 billion (USD 533 million) offshore patrol vessel (OPV) contract, which seeks to provide six OPVs to the...
The Department of Trade and Industry (DTI) said Japan’s Nidec Corp., a maker of electric motors, is planning a PHP 40 billion (USD 710.8 million) expansion of its manufacturing site in Subic in the next three years. The expansion targets a 50,000-unit augmentation to...
Daesang Philippines Corp., the local unit of South Korea’s Daesang Corp., has received approval from the Board of Investments (BOI) to produce tapioca starch in the country via a PHP 750-million (USD 13.3 million) project that is also expected to hire nearly 500...
Amber Kinetics, a manufacturer of grid-scale kinetic energy storage systems (KESS) will complete its second manufacturing plant in the country by year-end, expanding its production capacity by more than double. Its first firm facility in the First Philippine...
Republic Act 11697 or the Electric Vehicle Industry Development Act or EVIDA, which was signed into law by the outgoing President Rodrigo Duterte, is poised to attract immense interest for investments in the emerging Electric Vehicle (EV) industry in the Philippines....
The Philippines and Italy are hoping to sign a mutual agreement for collaborating not just on science and health but also in other areas of strategic interests such as biomedical research, food science and technology, fashion and textile, furniture research and...
The Philippine Department of Information and Communications Technology (DICT) held a public consultation with Satellite Systems Providers or Operators (SSPOs) on May 26, 2022, at the Manila Polo Club in Makati, urging SSPOs to intensify their corporate presence in the...
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...
