Swedish furniture maker has announced that IKEA Philippines will open its outlet in the Philippines in the 4th quarter of 2021. It was originally planned to open in 2020 but was delayed because of construction adjustment. According to its Philippines store manager,...
The Department of Trade and Industry – the Board of Investments (DTI-BOI) – is eyeing Japanese pharmaceutical firms to invest in the Philippines. With the developments in health insurance schemes, health systems, and increasing investments in public health, the...
The Department of Science and Technology (DOST) has approved the conduct of six flagship R&D projects that will serve as foundation studies of the proposed Virology and Vaccine Institute of the Philippines. The DOST has allocated PHP 284 million (USD 5.83 million)...
Sales of imported cars almost quadrupled in May 2021 compared with the level in the same month last year, according to the Association of Vehicle Importers and Distributors (AVID). AVID reported that vehicle sales of its 21 members, which carry 26 global brands,...
Philippine Department of Agriculture Secretary Emmanuel Piñol said that the Mindanao Development Authority (MinDA) plans to have a large-scale expansion in the production of avocado and jackfruit by tapping 200,000 hectares of upland areas. Over the next five years,...
The Philippine Defense Assistant Secretary for Logistics and Acquisition visited the Republic of Korea Navy’s (RoKN’s) Submarine Force Command and held talks with his counterpart, the Vice Minister of the Defense Acquisition Program Administration, to...
Megaworld Corp plans to raise PHP 27.3 billion (USD 567 million) from its Initial Public Offering (IPO) of MREIT, Inc., its real estate investment trust (REIT), by selling 49 percent stake or offering up to 1.239 billion common shares at a maximum price of PHP 22 (USD...
The technology group Wärtsilä has signed multiple energy storage contracts with SMC Global Power Holdings Inc. through its subsidiary, Universal Power Solutions Inc, in the Philippines during 2019-2020. The first two projects, Integrated Renewable Power Hub-Toledo and...
West Zone concessionaire Maynilad Water Services, Inc. (Maynilad) has spent PHP 410 million (USD 8.4 million) for the installation of pressure-regulating valves (PRV) in select points of its distribution system to manage water pressure in the network and optimize...
Alibaba Cloud, the cloud computing subsidiary of Alibaba Group, announced in early June 2021 that it is planning to build its first data center in the Philippines by the end of 2021. This data center will be able to better support the Philippines enterprises in...
The Philippines government is scheduled to spend a total of PHP 4.9 trillion (USD 99 billion) on infrastructure projects over the next four years as a continuation of President Rodrigo Duterte’s ambitious “Build, Build, Build” program even after his term ends in 2022....
The Philippine Economic Zone Authority (PEZA), a state agency tasked to promote investments in export manufacturing in the country, is eager to turn the country’s military reserves into a specialized economic zone dedicated to the defense manufacturing industry....
