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Navigating apparent risks in 2025

The latest Chief Economists Outlook by the World Economic Outlook noted the areas in which respondents expect higher fragmentation in the next three years. — www.weforum.org

While signs of gradual recovery appear in certain regions, both developed and emerging economies face challenges that could hinder gross domestic product (GDP) growth, innovation, and investments.

According to the International Monetary Fund, economies such as the United States, the European Union, and Japan are projected to grow at less than 3% annually. This rate, below the threshold required to double per capita income within a generation, signals long-term economic stagnation that could harm living standards.

Large emerging economies, including Brazil, Argentina, and South Africa, face similar issues due to structural inefficiencies, policy inconsistencies, and external pressures.

As global GDP reaches $110 trillion, its uneven distribution highlights disparities that could deepen economic and social divides.

Challenges at a global scale

The latest Chief Economists Outlook from the World Economic Forum stated that countries face heightened uncertainty, uneven growth prospects, and increasing fragmentation of trade and labor markets.

The report revealed that more than half (56%) of chief economists surveyed expect global economic conditions to weaken in 2025, with only 17% predicting improvement.

Aengus Collins, the Forum’s head of economic growth and transformation, described the growth outlook as the weakest in decades, emphasizing the contested nature of economic policy both domestically and internationally.

International nonprofit media organization Project Syndicate also noted that escalating geopolitical conflicts remain a significant threat. For instance, relations among the U.S., China, and Russia are increasingly strained, compounded by risks from nations like Iran and North Korea.

Economic fragmentation is reflected in the rise of economic alliances and the “splinternet,” where digital economies divide along geopolitical lines. This fragmentation limits collective efforts to address global issues like climate change and energy transitions, further intensifying divides.

Similarly, the World Economic Forum reported that 94% of surveyed chief economists expect further fragmentation of goods trade over the next three years, with 59% anticipating similar trends in services trade. This shift is likely to increase costs for businesses and consumers.

The financial sector stands out as a partial exception, with less than half (48%) of participants anticipating increased fragmentation. This trend highlights the role of cross-border financial flows in modern economies, even as supply chain realignments and security concerns continue to reshape the global landscape.

Meanwhile, demographic shifts are reshaping the global workforce and consumer markets. Populations in high-performing economies are aging, while rapidly growing populations in poorer regions face slower economic growth. For instance, China’s population is projected to decline sharply by 2,100, even as its economic growth stagnates.

The dependency ratio, or the dependents relative to the working-age population, is rising globally, placing additional stress on social security and pension systems. Without significant policy reforms or demographic changes, global per capita income growth could decline further.

In addition, the scarcity of critical resources such as arable land, water, energy, and rare-earth elements is another looming challenge, compounded by rapid urbanization and artificial intelligence (AI)-driven energy consumption. Fossil fuels, despite global climate commitments, remain in high demand, with oil consumption exceeding 100 million barrels per day.

Resource scarcity and rising costs are likely to fuel inflation and disrupt supply chains. Geopolitical vulnerabilities, such as China’s dominance in rare-earth production, further complicate resource security.

Furthermore, loose fiscal policies and mounting government debt are creating unsustainable economic conditions. Both advanced and emerging economies struggle with budgetary constraints, limiting their ability to invest in infrastructure, healthcare, and education.

Economic uncertainty in Asia

Although Asian economies show resilience, several external factors will shape the region’s landscape in 2025, according to Oxford Economics.

One of the biggest uncertainties facing Asia is the unpredictable trade policies of the United States (US). With expectations of higher tariffs on goods, particularly targeting China, the effects could ripple across the entire region.

Countries like Vietnam and India, often seen as alternatives to China in global supply chains, may gain limited benefits as the global economic outlook softens. Tariffs on Chinese goods could rise to 30%, while tariffs on other Asian countries might target specific products, reaching up to 10%.

The yield on the US 10-year bond rose before the end of 2024, leading to a stronger US dollar and a decline in Asian currencies. This situation is likely to limit monetary policy flexibility, meaning expected interest rate cuts across Asia may be slower and less effective than initially projected.

China’s ongoing economic struggles present another significant challenge in Asia. The country is experiencing a “balance sheet downturn,” where its economy is burdened by structural and cyclical issues.

Although there are some signs of recovery, fiscal policies have yet to yield results. A slowdown in foreign investments and a shrinking manufacturing sector could exacerbate the economic strain.

Meanwhile, AI remains a significant focus of innovation. Many believe that the AI revolution could be even more transformative than the advent of mobile phones or the internet itself. The production of AI chips in Taiwan, South Korea, and Malaysia places Asia at the forefront of this technology.

The excitement surrounding the potential of AI comes with a word of caution. History shows that technological bubbles can burst. Asia has experienced significant economic crises, including the Asian Financial Crisis, the dotcom bubble burst, and the Global Financial Crisis, all of which have left lasting impacts on its economies.

While AI-related industries are expected to create significant economic opportunities in Asia, particularly in chip manufacturing, there are risks if growth slows. Today, the region’s economies are more resilient than during past crises, but the balance between opportunity and risk remains fragile.

Risks for Philippine businesses

The top 10 global business risks for 2025, based on Allianz’s survey of 3,778 risk management experts from 106 countries and territories

Cyber incidents remain a dominant threat in businesses, tied with business interruption as the top risk in the Philippines with 44%, according to the Allianz Risk Barometer for 2025. This category encompasses cybercrime, information technology (IT) network disruptions, malware, ransomware, and data breaches. The surge in digital transformation and reliance on technology exposes companies to vulnerabilities, with data breaches being the most feared exposure.

To mitigate these risks, businesses are advised to invest in robust cybersecurity frameworks, enhance IT resilience, and comply with stricter data protection regulations.

Cyber incidents also rank as the number one risk globally, reflecting their widespread impact across industries, particularly in financial services, technology, and telecommunications.

On the other hand, business interruption, like supply chain disruptions and operational halts, pose a significant challenge with the country’s susceptibility to natural catastrophes and growing dependence on global trade.

Key strategies to address this risk include diversifying supplier networks, enhancing business continuity plans, and adopting digital supply chain management tools. Industries like manufacturing, transportation, and logistics are prioritizing these measures to ensure resilience.

Meanwhile, the evolving regulatory landscape; encompassing environmental, social, and governance (ESG) requirements; and sustainability mandates present complex challenges, according to 38% of respondents.

Ranked fourth globally but climbing steadily in priority, climate change poses both immediate and long-term risks, especially in the Philippines. The increasing frequency of extreme weather events amplifies threats to infrastructure, supply chains, and ecosystems.

The Philippines’ geographic location also makes it highly susceptible to typhoons, earthquakes, and floods. The rising costs of insured losses, which have surpassed $100 billion globally for five consecutive years, emphasize the importance of preparedness.

Such challenges are expected to shape the global economy; so governments, businesses, and investors alike are suggested to stay agile to ensure resilience and sustainability in the years ahead. — Mhicole A. Moral

The journey to PHL’s railway renaissance

Camp Aguinaldo Station at the Metro Manila Subway Project — Photo from facebook.com/DOTrPH

Rail transit is one of the best ways to skip the grueling traffic on the road as it gives more convenience to commuters and can reduce their travel time within minutes. It serves as an efficient way to transport millions of passengers in the metro, helping them reach their destinations smoothly.

Travel by train, however, can often be challenged by crowded train cars, normalized long lines, and even glitches in the train, tracks, and systems. Acknowledging these apparent inconveniences, the Department of Transportation (DoTr) has been endeavoring to make the train commuting experience better for Filipino commuters.

As it celebrates its 126th anniversary this year, the DoTr shows its steadfast commitment to making railway transportation more efficient, effective, and secure, as shown by the progress of numerous projects.

Metro Manila Subway

The country’s first underground railway system, the Metro Manila Subway (MMS) Project seeks to revolutionize travel and help commuters avoid those pesky traffic jams.

The Metro Manila Subway spans 34 kilometers (km) and is considered the deepest subway in Southeast Asia with an average depth of 30 meters. Touted as the country’s “Crown Jewel” of mass transit system, the rail line is expected to reduce travel time between Valenzuela City to Ninoy Aquino International Airport (NAIA) in Parañaque City from 1 hour and 30 minutes to 35 minutes, as well as to carry 500,000 passengers a day. It will travel across eight cities, serving the eastern side of Metro Manila.

The DoTr, along with the Armed Forces of the Philippines (AFP), has launched the operations of the Tunnel Boring Machines (TBM), which are used to building tunnels underground. A total of 19 TBMs will be used to accelerate the construction of the underground rail system.

Currently, the Metro Manila Subway is at 18.24% progress and plans to push ahead this year. Given its significant progress, the subway is aiming for full operation in 2029.

North-South Commuter Railway

The 147-kilometer North-South Commuter Railway (NSCR) is set to offer a long-distance transport and connectivity across three regions in Luzon. With the capacity to serve 800,000 passengers, the project seeks to bring more access to high-quality passenger rail service, reducing lengthy travel time between North and South Luzon from four hours to two hours.

The NSCR will include 36 stations that will connect Manila to the North and South Luzon regions. The northern line will run 266 km from Manila to San Fernando, La Union. Its extension line goes from San Jose, Nueva Ecija to Cagayan, and a branch line is set to connect Tarlac and San Jose.

The southern line, meanwhile, is divided into the South Commuter Railway (Tutuban to Calamba) and the South Long-Haul (SLH) Project (Muntinlupa, Metro Manila to Matnog, Sorsogon). The SLH Project will cover 561 kilometers that will connect various cities, economic zones, and international ports.

The construction of the railway project is divided into three phases: Phase 1 (Tutuban, Manila, to Malolos, Bulacan), Phase 2 (Malolos, Bulacan to Clark, Pampanga), and PNR Calamba (Solis, Manila to Calamba, Laguna).

The Malolos-Manila and Clark Extensions are expected to finish this year. Additionally, the department is looking forward to having partial operations by the end of 2028, aiming for full completion in 2029.

Metro Rail Transit Lines 4 and 7

The Metro Rail Transit (MRT) Lines 4 and 7 are also building up the railway network in Mega Manila.

Connecting the bustling cities of the northeast Metro Manila, the 24-km MRT-7 consists of 14 stations and spans from North Avenue, Quezon City to San Jose Del Monte, Bulacan. This line aims to reduce travel time from around two to three hours to 35 minutes, and it is expected to serve 300,000 passengers per day and 800,000 passengers at most.

On the other hand, the 12.7-kilometer MRT-4 will feature 10 stations, connecting Ortigas Avenue alongside Epifanio de los Santos Avenue to Taytay, Rizal. This railway is projected to ease traffic congestion in the Eastern Metro Manila and will accommodate at least 400,000 passengers daily.

At present, MRT-7 is expected to open partial operations in late 2025, with full operations targeted between 2027 and 2028. MRT-4, meanwhile, is still at pre-construction stage and is yet to finalize project details, including engineering design and acquisition of land. The DoTr plans to start its construction by 2026.

Light Rail Transit Line 1 Extension

LRT-1 Cavite Extension — Photo from facebook.com/DOTrPH

The Light Rail Transit (LRT)-1 Cavite Extension is another railway project that is set to offer high-quality transportation to commuters in the metro. The extension will add another 11.7-kilometer railway line, featuring eight new stations connecting Pasay City to Bacoor, Cavite. This upgrade is Light Rail Manila Corp.’s (LRMC) commitment to providing world-class public transportation, making every commute experience more efficient and convenient. The LRT-1 extension is on track as it achieved 74% completion last year. It also started partial operations last November, opening up the Redemptorist, MIA, Asia World (PITX), Ninoy Aquino, and Dr. Santos (Sucat) stations. The new stations are expected to increase the estimated number of daily passengers from 320,000 to 400,000.

The entire extension, nonetheless, is anticipated to welcome additional 300,000 passengers in the LRT-1 line, expanding its total capacity of 800,000 passengers once fully operational in 2031.

“The LRT-1 extension is a significant Public-Private Partnership (PPP) project, which is expected to significantly improve connectivity to the south area of Metro Manila, easing traffic congestion and providing commuters with a faster and more convenient travel option,” LRMC said in a previous statement.

Unified Grand Central Station

Baliuag Fabrication Yard of the Metro Manila Subway Project, where the concrete walls being installed at the subway are manufactured and transported to the subway construction sites — Photo from facebook.com/DOTrPH

The Unified Grand Central Station in Quezon City, serving as a significant transportation hub in Metro Manila, will connect all major railway lines in Metro Manila: LRT-1 (located in west and south of Metro Manila), to MRT-3 (central part of Metro Manila), MRT-7 (north of Metro Manila), and the Metro Manila Subway (eastern part of Metro Manila).

With the construction of the Unified Grand Central Station, commuters can expect a big boost in connectivity, shorter travel times, reduced reliance on road transport, and an alleviation of traffic congestion in the metro.

As of 2024, the construction for the station has achieved 81%. — Angela Kiara S. Brillantes

The Philippines’ urgent call for climate action and resilience

kamchatka | Freepik

After another year of experiencing the effects of climate change first-hand in the Philippines, advancing the climate agenda is not just a necessity — it’s a survival imperative. Rising global temperatures, intensifying natural disasters, and widespread environmental degradation have all been the topic of headlines in the past year. These natural phenomena caused by human activities highlight the urgent need to combat global warming in an increasingly less climate-resilient world.

Rising global temperature

The World Meteorological Organization (WMO) recently confirmed that 2024 was the warmest year on record at about 1.55°C above pre-industrial level, based on six international datasets. Similarly, data from the National Aeronautics and Space Administration shows that global temperatures in 2024 were 1.28°C above the agency’s 20th-century baseline, which tops the record set in 2023.

Both organizations attribute this rise in global temperatures to ocean warming. The WMO explained that around 90% of the excess heat generated by global warming is absorbed by the seas, making ocean heat content a vital measure of climate change. Climate fluctuations such as El Niño and La Niña, volcanic eruptions, added pollutants, and how solar energy is reflected into space were also cited as contributing factors to the rise in temperature last year.

While the warmth recorded in 2024 is still below the global average temperature target of 2°C based on the 2015 Paris Agreement, it is concerningly slightly above the 1.5°C threshold which would “significantly reduce the risks and impacts of climate change.”

Natural disasters

The United Nations Office for Disaster Risk Reduction reported in 2021 that natural hazards accounted for 50% of all disasters, 45% of all reported deaths and 74% of all reported economic losses from 1970 to 2019.

In under a month last year, the Philippines, as one of the most vulnerable countries to natural disasters, was hammered by an unprecedented six consecutive storm systems that left around 200,000 Filipinos displaced across six regions. Damage to livestock, agriculture, and infrastructure was estimated to be nearly P3 billion at the end of November with Marcos Administration spending another P1 billion on food and other aid for the hundreds of thousands of storm victims.

UK-based media company Carbon Brief reported that the likelihood of the observed potential intensity of typhoons in the Philippines has increased approximately sevenfold while the maximum possible intensity of a typhoon has risen by around 4 meters per second compared to data from 1940.

Environmental degradation

Deforestation, land conversion, overfishing, and many other human activities have compromised nature in some way, reducing biological diversity and the general health of the environment. Non-profit development organization IBON Foundation detailed the critical state of the Philippine environment.

Latest data from IBON show that just 7 million hectares as of 2015, or just 23.3% of the country’s land area are covered by forests, a far cry from the 54% environmental scientists recommend. Similarly, soil erosion is reportedly severe in 70.5% of the country’s land area due to land conversion for corporate agriculture, cash crops, real estate according to the organization.

The Climate Change Commission (CCC) notes that these degradations pose immediate and long-term risks not only to the environment but to human lives. The CCC emphasized that environmental protection goes beyond conservation; it also involves safeguarding the health and well-being of both present and future generations.

“The rise in environment-related diseases, such as asthma and waterborne illnesses, leads to higher healthcare costs and loss of productivity. Therefore, prioritizing environmental health translates into significant public health and economic benefits,” the CCC said.

Urgency of climate resilience

Every citizen on earth will be impacted in some way by climate change. Phenomena such as rising global temperatures, natural disasters, and environmental degradation require an urgent plea for climate resilience, imploring governments and corporations to actionable solutions, collaborative frameworks, and innovative technologies that can help communities adapt and thrive in a changing world.

Listed as second and first, in the 2-year and 10-year outlooks, respectively, in the World Economic Forum’s Global Risk Report 2025 are extreme weather events which categorize it as the most critical current risk of the immediate future. Pollution is regarded as a more urgent short-term risk, while biodiversity loss and ecosystem collapse are considered more significant long-term threats by the report.

Other environmentally related risks in the WEF’s report include the concentration of strategic resources, critical changes to the earth’s systems, non-weather related natural disasters, and natural resource shortages.

One of the United Nations’ sustainable development goals is to take urgent action to combat climate change and its impacts. The goal is to increase ambitions, make decisions that cover entire economies, and create policies that transition toward climate-resilient development — all while establishing a clear roadmap to attain net-zero emissions.

The UN’s target for climate action involves strengthening resilience and adaptive capacity to climate-related hazards and natural disasters, integrating climate change measures into national policies, strategies, and planning, and improving education, awareness-raising, and human and institutional capacity on climate change.

Additionally, the organization hopes for developed countries to mobilize jointly $100 billion annually from all sources to address the needs of developing countries in the context of meaningful mitigation actions as well as to promote mechanisms for raising capacity for effective climate change-related planning and management in less developed countries and small island developing states.

Specific goals of the United Nations Development Program to mitigate climate change include shifting away from fossil fuels, improving energy efficiency, changing agricultural practices, restoring and conserving critical ecosystems, and creating a supportive environment.

In the Philippines, the National Climate Change Action Plan (NCCAP) by the CCC serves as the blueprint to systematically address the growing threats of climate change to community life and its impact on the environment. The plan envisions a climate-risk-resilient Philippines with healthy, safe, prosperous and self-reliant communities, and thriving and productive ecosystems.

The NCCAP’s goal is to build the adaptive capacity of Filipino communities and increase the resilience of natural ecosystems to climate change. It has put an emphasis on ensuring food security, water sufficiency, environmental stability, human security, climate-friendly services, sustainable energy, and capacity development.

The effects of climate change felt firsthand in the Philippines, make it clear that tackling such challenges calls for genuine effort and collaboration from the government, businesses, and individuals alike.

The Philippines stands as a testament to the urgent realities of climate change. By embracing sustainable practices, taking urgent action on combating climate change, and building up climate resilience, realities such as rising global temperatures, natural disasters, and environmental degradation can be addressed, ensuring a safer and more sustainable future for the nation and the Filipino people. — Jomarc Angelo M. Corpuz

The role of public-private partnerships in transforming the Philippines’ transportation sector

Public-private partnerships (PPPs) have been at the core of Philippine infrastructure development and have helped shape the country as we know it today. These agreements between the government and private firms leverage each partner’s expertise to effectively address specific public needs by appropriately distributing resources, risks, and benefits.

The partnerships allow the government to build big-ticket projects that can help millions of Filipinos while minimizing the costs due to the participation of private firms. For companies, PPPs are structured in such a way that the private sector gets a reasonable rate of return on its investment and allows them to contribute to national development.

Notable examples of successful partnerships between the government and private sector include the construction of power plants, waste management systems, irrigations, commerce buildings, and even local city halls. Yet, the industry most aided by PPPs is the transportation sector due to the necessity of developing efficient and modern infrastructure to address the country’s growing population, urbanization, and mobilization needs. Currently, the Department of Transportation (DoTr) handles more than 160 projects, programs, and initiatives — including 74 flagship infrastructure projects of President Ferdinand R. Marcos, Jr.’s administration.

Among the most renowned PPP projects overseen by the DoTr presently operational is the Parañaque Integrated Terminal Exchange (PITX). Developed in partnership with MWM Terminals, a consortium of Megawide Construction Corp. and WM Property Management, Inc., the state-of-the-art terminal, built at a cost of P2.5 billion, has been serving Filipinos since 2019.

PITX boasts several features such as passenger terminal buildings, arrival and departure bays, public information systems, ticketing and baggage handling facilities, and park-ride facilities to give commuters from Southern Luzon to Metro Manila and vice-versa a better experience. Recently, the terminal reached a remarkable milestone of 146 million overall foot traffic since it began operations and is expected to breach the 150-million mark within the year.

Another noteworthy DoTr project constructed with the help of private partnerships is the Metro Rail Transit Line 3 (MRT-3). Completed in the year 2000, the rapid transit line was developed and is currently operated by Metro Rail Transit Corp. Limited with an estimated project cost during approval of P32.75 billion.

Connecting North Avenue and the Epifanio de los Santos Avenue in Quezon City to Taft Avenue in Pasay City, the 13-station and 17-kilometer (km) railway has significantly reduced travel time for commuters and eased traffic congestion for car owners. MRT-3 has a daily ridership of nearly 360,000 passengers and saw almost 130 million passengers in 2023.

Turnover of the operations and management of the Ninoy Aquino International Airport from the DoTr and Manila International Airport Authority to New NAIA Infrastructure Corp. — Photo from facebook.com/DOTrPH

More recently, the Ninoy Aquino International Airport finally gets its long-overdue rehabilitation program through a PPP between the DoTr, Manila International Airport Authority, and New NAIA Infra Corp. (NNIC), a consortium that includes San Miguel Corp. (SMC) and Incheon International Airport Corp. of South Korea.

The modernization program, with an estimated budget cost of P170 billion, hopes to increase the airport’s capacity from 35 million passengers to 62 million passengers and an uptick in air traffic movement from 40 movements per hour to 48, as well as improve service quality. Planned improvements for the airport in the next few years include functional escalators and toilets, stable power and water, improved air-conditioning, runway improvements, increased terminal capacity, improved commercial spaces, and better traffic flow.

Building on the success of these operational projects, the ongoing construction of the Metro Rail Transit Line 7 (MRT-7) further showcases the potential of PPPs to help develop the country. The DoTr’s ambitious project, in collaboration with SMC’s MRT 7, Inc., aims to divert northern provincial bus operations to San Jose Del Monte, thereby decongesting EDSA.

The 23-km elevated railway line will have 14 stations from San Jose Del Monte, Bulacan to MRT-3 North Avenue in Quezon City, while a 22-km asphalt road will also be built from Bocaue Interchange of the North Luzon Expressway (NLEX) to the intermodal terminal in Tala. The P77-billion project currently has an overall construction progress of 71.32% as of June 2024 and a 16.76% right-of-way progress as of May 2024.

The recently opened five stations of the Light Rail Transit Line 1 (LRT-1) is another example of a DoTr project completed with the help of private companies. Developed by the Light Rail Manila Corp. on a Build-Transfer-and-Operate contractual agreement, LRT-1 now runs from FPJ Station (formerly Roosevelt) in Quezon City to Dr. Santos Station in Parañaque thanks to the first phase of the project. With plans to further extend the railway to what would be the Niog Station in Bacoor, Cavite, the whole stretch of the integrated LRT-1 will have a total length of approximately 32.4 kilometers once construction of the nearly P65-billion project is completed. Latest figures show that the LRT-1 transports around 320,000 passengers daily.

In addition to these developments, the New Manila International Airport, also known as the Bulacan International Airport, highlights the continued expansion of the country’s transportation infrastructure through PPPs. The nearly P740-billion project, a collaboration between the DoTr and San Miguel Aerocity, Inc., involves the construction, operation, and maintenance of a new modern airport in Bulacan with a design capacity of up to 100 million passengers per year, consisting of four runways and all aviation-related facilities.

Data on the ongoing land development works for the airport show significant progress, with a total completion rate of 84.61%. Site clearance has been fully completed at 100%, while landfilling is at 77.49%. Ground improvement and right-of-way works are nearing completion, with a progress rate of 94.27% and 99.47% respectively. Finally, the right-of-way for the airport toll road stands at 29.35%.

Aside from these ongoing projects, several key transport developments are lined up to improve the country’s transportation system after Mr. Marcos witnessed the signing of agreements and commitments for the New Cebu International Container Port (NCICP), Cebu Bus Rapid Transit (Cebu BRT), modernization of Bohol-Panglao International Airport, as well as the Agreements for the New Dumaguete and New Siargao airports.

The NCICP aims to decongest the existing Cebu Base Port, improve cargo handling capacity, and reduce logistics costs. In addition, the Cebu BRT is expected to handle 116,000 passengers during partial operations start and over 160,000 passengers once fully operational. The anticipated improvements in the modernization of Bohol-Panglao International Airport include installing modern aviation equipment, expanding the passenger terminal building and other airport facilities. Regional gateways New Dumaguete and New Siargao airports are seen to boost tourism in the area.

Of the five transport projects, only two so far have been awarded to private firms. The International Finance Corp. (IFC) of the World Bank Group was tabbed by the DoTr as the Transaction Advisor in structuring and bidding out the bus supply and operations and maintenance of the Cebu BRT. Similarly, Aboitiz InfraCapital signed a concession deal with the transport department for the transfer of operations and management of the Bohol-Panglao International Airport.

Projects made by the government in partnership with the private sector have and will continue to benefit Filipinos, especially in the transport sector. By combining the strengths of both the government and corporations, these initiatives improve the country’s transportation systems and enhance the quality of life for millions of Filipinos.

With continued collaboration and innovation, the successful implementation of these PPPs promises to pave the way for a more connected, efficient, and sustainable future for the nation. — Jomarc Angelo M. Corpuz

DoTr’s push for safe and sustainable mobility

One of the Public Utility Vehicle (PUV) stops opened in the City of Manila last Jan. 22, which is built with essential features for today’s commuters — Photo from facebook.com/DOTrPH

As the agency tasked to provide safe, efficient, and sustainable transportation to every Filipino, the Department of Transportation (DoTr) has implemented several active transport programs that aim to give individuals better mass transit experiences, ease traffic congestion, and promote sustainability through different initiatives.

Active transport is defined as the mobility of people or goods powered by human activity, such as walking or cycling, rather than a motor. Consultancy firm Palafox Associates describes the current active transport situation of the Philippines as “riddled with challenges.” The lack of dedicated bike lanes, safe pedestrian crossings, and supportive facilities such as bike parking and showers significantly discourages active commuting showcasing the need for adequate active transport infrastructure. Pedestrians and cyclists in the Philippines are also plagued with unsafe conditions like poorly maintained sidewalks, uneven pavements, road hazards, and inadequate lighting.

Transport corridors are also car-centric and predominantly designed with private vehicles in mind, often overlooking the needs of pedestrians and cyclists. Additionally, the absence of shade and weather protection makes active transport uncomfortable and potentially hazardous in the Philippine climate.

One of the most notable active transport programs by the DoTr is the construction of Public Utility Vehicle (PUV) stops all over Metro Manila. Recently, the transport agency inaugurated two such stops along Liwasang Bonifacio in Manila built with essential features for today’s commuters including a map of the bike routes in the city, charging stations powered by solar panels, CCTVs, and lockers.

Bike lanes all over the Philippines have also been created by the DoTr to promote healthier lifestyles, reduce carbon emissions, and enhance the overall quality of life in various areas. By integrating bike lanes into urban planning, local governments aim to ease traffic congestion, support sustainable mobility, and foster a culture of active living.

In Cebu, the transport agency opened last year a total of 67.19 kilometers (both ways) of Class 1, 2, and 3 bike lanes along selected roads in the cities of Cebu, Lapu-Lapu, and Mandaue, and the municipalities of Cordova and Talisay. End-of-trip cycling facilities such as bicycle racks, and repair stations are planned to be built along those lanes.

Millions of Davaoeños have also enjoyed a safer, more comfortable, and more convenient way to travel after the DoTr inaugurated a total of 47.7949 kilometers (both ways) of Class 1, 2, and 3 bike lanes along selected roads in the cities of Davao and Tagum, as well as the maintenance and upgrading of a total of 60.24173 kilometers (both ways) of bike lane in May last year. Additionally, 30 bike racks were installed in separate locations across the two cities.

The walled city of Intramuros also received an expansion, upgrade, and maintenance of its bike lanes after the DoTr, in partnership with the Tourism Infrastructure and Enterprise Zone Authority (TIEZA) and Intramuros Administration (IA), inaugurated its Expansion of Active and Public Transport Infrastructure.The project includes the development of Class 1, 2, and 3 bike lanes spanning 9.35 kilometers, enhancements to pedestrian walkways with PWD-accessible ramps, the creation of open spaces, and the construction of four public transport stops.

Quezon City is also a beneficiary of the DoTr’s active transport project. Recently, the agency opened 21 sets of short-term end-of-trip cycling facilities in UP Diliman and an additional 15 sets of short-term end-of-trip cycling facilities in QC City Hall. Each of these sets is composed of five bicycle racks, a bicycle shed, and a bicycle repair station.

Two stand-alone end-of-trip cycling facilities were also built in Marikina City as part of the transport agency’s project. The said facilities could accommodate 70 bicycles and have fully equipped comfort rooms and a bicycle repair and maintenance station. In addition, the DoTr and the local government of Marikina City also broke ground on an eight-kilometer bike lane that would connect to the city’s existing bike lanes.

Also a part of their active transport initiatives, the DoTr is crafting the Active Transport Strategic Master Plan (ATSMP) in partnership with Palafox Associates as a consultancy firm. The master plan not only aims to ease the heavy traffic on Philippine roads but also the long and winding queues of commuters at jeepney terminals, bus stations, and railway transit stations.

Other objectives of the ATSMP are promoting sustainable urban mobility, boosting economic opportunities, and supporting local government units in advancing active transport solutions and projects in their localities.

Pilot areas of the study have already been identified by Palafox making sure that the regions are in coherent geographic clusters when it comes to mobility. These areas include the National Capital Region, Puerta Princesa, Iloilo City, Zamboanga City, and Mati City in Davao Oriental.

The public is encouraged by the transport agency to participate in field surveys, focus group discussions, and interviews regarding active transport to help craft better standards and policies and aid in creating a comfortable, accessible, and safe active transport system in the country.

The DoTr’s initiative to adopt and advance active transport in the country is a step toward a more inclusive, sustainable, and efficient transport system in the Philippines. With continued collaboration among government agencies, local governments, private sectors, and the public, the vision of a well-connected and active transport system is within reach—making mobility not just a necessity but a catalyst for nationwide progress. — Jomarc Angelo M. Corpuz

Keeping pace with technological risks and cybersecurity

iuriimotov | Freepik

The rapid pace of technological changes happening in businesses, industries, and societies comes with new pressures and additional concerns. Given the massive and vast nature of the digital space, risks to businesses might be hiding in plain sight and so might be difficult to identify. When overlooked, these digital risks can cause significant damage and impact.

Recent reports from some think tanks have identified potential risks that might arise from the digital space. Within the complex technological landscape, understanding these potential headwinds can come handy for businesses who are navigating their place and relevance in a more digitally influenced world.

The AI mainstream

Artificial intelligence (AI) is becoming more of a reality last year as it generates new applications for enhancing security, improving banking and financing, business management, and much more. In the business setting, AI offers opportunities for organizations to take advantage of the technology’s ability to analyze data, make smart predictions, and mitigate potential risks.

“Enthusiasm around the technology’s potential to drive a new wave of growth has helped tech stocks to build again post-COVID, and analysts expect this upward trend to continue,” World Economic Forum (WEF) said in a report. “The proliferation of AI means there will be chances to take big swings; even if they don’t work out, the learning experiences for businesses will be incredible.”

While AI is on the side of mainstream with fewer drawbacks, that doesn’t mean no issues are lurking behind. According to WEF’s Global Risk Report, the adverse outcomes of AI technologies are projected to rise, with potential disruptions looming within the next decade. Key concerns include generative AI (GenAI) producing misleading or false content and its relationship to social polarization.

Likewise, the International Monetary Fund (IMF) shared that Asia-Pacific economies are among those affected by the continued AI evolution. In its Regional Economic Outlook, it revealed significant shifts will occur in the region, with AI influencing 50% of jobs in advanced economies and 25% in developing ones.

Because of this, AI is seen to increase inequality within countries in the Asia-Pacific region, particularly in the job market. The report notes of majority of the workers in services, sales, and clerical support are at risk of losing their jobs. In contrast, those in managerial, professional, and technical jobs are more likely to reap benefits brought by AI advancements.

Misinformation and disinformation

Another risk identified for this year is misinformation and disinformation, through which platforms for information might be geared to work against the truth.

The House of Commons Library defined misinformation as the “unintentional creation and spreading of such information,” while disinformation is the “deliberate creation and spreading of false and/or manipulated content.” Either way, both pose a risk for digital consumers, as misinformation and disinformation can accelerate given the fast spread of information through digital channels.

In the WEF’s Global Risk Report, misinformation and disinformation emerged as one of the biggest short-term risks for two consecutive years. Looking ahead to 2025, these challenges are more likely to significantly impact the academic sector, along with the private sector, government, civil society, and international organizations.

Partly fueling the rise of misinformation and disinformation is generative AI (GenAI) technology. While it simplifies content creation, it also produces significant inaccuracies, leading to false and misleading content. As a result, it resorts to a lot of AI-inaccuracies and human errors, making it increasingly difficult to access reliable information digitally.

“The advent of new technologies and the increase in user-generated content platforms is leading to a corresponding rise in the volume of content online. Flows of misinformation and disinformation from those creating it are becoming more challenging to detect and remove in an increasingly fragmented media landscape,” the report noted.

“The upshot is that it is becoming increasingly hard to know where to turn for true information. Both political and societal polarization skew narratives and distort facts, contributing to low and declining trust in media.”

Another contributing factor are algorithms and machine learning models, which can serve as a gateway for cyberattacks. These systems generate automated algorithms or exhibit algorithmic biases that negatively impact decision-making. It often lacks transparency, fairness, and accuracy, especially when critical decisions are made. In the worst-case scenario, algorithmic biases can deepen societal divisions divide and foster biases against political identities.

“Algorithmic bias can both be influenced by misinformation and disinformation and can be a cause of it. The risks of algorithmic bias are heightened when the data used for training an AI model is itself a biased sample.”

Factors responsible behind cybersecurity complexity, according to the World Economic Forum’s Global Cybersecurity Outlook for this year — www.weforum.org

Censorship and surveillance

Censorship is when access to online content is limited or blocked. This can be advantageous to protect national security, adhere to policies, shield users from harmful and illegal content, or maintain social order. On the flip side, it can also lead to a lack of access to information, transparency, and concerns on free speech.

WEF’s report stated that misinformation and disinformation are inextricably linked with censorship, with the danger lying in potential responses to misinformation.

“The proliferation of misinformation and disinformation may be leveraged to strengthen digital authoritarianism and the use of technology to control citizens. Governments themselves will be increasingly in a position to determine what is true, potentially allowing political parties to monopolize the public discourse and suppress dissenting voices, including journalists and opponents,” the report said.

Regarding surveillance, emerging technologies are becoming central to the public sector. The 2025 Global Risk Report highlights that data analytics, AI, and other digital platforms are increasingly integral to government services and operations. These technologies provide greater access to data and information, while enabling monitoring of citizens’ activities. They are utilized for various purposes, including tax management, environmental protection, and voter registration, among others.

“Governments now have unprecedented access to data on citizens — and technology companies often have even better access than the governments themselves do. As the computing power available to governments and technology companies continues to rise, it becomes easier for both entities to monitor citizens’ activities,” the report said.

The report also emphasized significant variation in how governments manage the data they can access. Implementing regulations is crucial because it promotes better personal data protection and enforces stricter guidelines on how businesses and governments can utilize such information.

Explosive cybersecurity demand

Another notable risk for this year is cyber-attacks. With the increasing complexities of the cyberspace come the challenges of possible rippling effects that might be damaging to the economy and that live in it.

The WEF’s Global Cybersecurity Outlook 2025 highlighted factors responsible behind cybersecurity complexity: geopolitical tensions, cybercrime sophistication, supply chain interdependencies, regulatory requirements, emerging technologies, and cyber skills gap. All of these challenges are making it extremely difficult for leaders to manage cybersecurity while also preparing for future potential risks to come.
The report revealed that 72% of organizations have experienced an increase in cyber risks; while 47% expressed major concerns about security threats posed by GenAI, and only 4% believe they have the necessary skills and personnel to safeguard their systems.

According to the WEF Annual Meeting 2025 report, 42% of organizations fell victim to cybercrime attacks in 2024, including phishing, vishing, deep fake, and other social engineering attacks.

Cybercrimes are constantly surging and evolving, and they have become increasingly profitable as cybercriminals have learned to maximize their gains while minimizing risks. This shift has given a rise to a new trend known as cybercrime-as-a-service, according to the report.

“This is the trend that we’re seeing — professionalization of crime. They require good technology; they require good software engineers. So, the talent that they are accessing are basically the same talents that all of us are searching for, except that they pay better; and that’s where we face a significant challenge. How do we ensure that the talents go to the good guys and not to the dark side?” Department of Information and Communications Technology (DICT) Secretary John Ivan Uy said.

To turn cyberspaces into a safer space, collaborative effort is necessary to stop cybercriminals in their tracks.

“Cybercriminals collaborate; and so must those who seek to stop them, including governments, the private sector, e-wallet providers, digital banking, and citizens,” Mr. Uy said.

It is also important to equip industry leaders with knowledge, helping them make informed and strategic decisions regarding cybersecurity risks their organization faces.

“Leaders must view cybersecurity as a strategic investment, ensuring resilience against new threats and recognizing it as a collective responsibility across all organizations. Strong leadership is essential, focusing not just on technical aspects but also on the economic implications of cyber risks. A unified approach between business and cyber leaders is critical to managing the growing complexity of cybersecurity,” the WEF Annual Meeting report read. — Angela Kiara S. Brillantes

Growth prospects high for energy firms, but IPO market unfavorable — analysts

A man inspects solar panels in this file photo. — PHILIPPINE STAR/EDD GUMBAN

By Sheldeen Joy Talavera, Reporter

ENERGY companies are poised for growth this year because of increasing power demand, but the environment may not be conducive enough for initial public offerings (IPOs) due to uncertainty amid developments in the United States, according to analysts.

“The outlook for sustained energy demand growth should help keep the appetite for capacity build-out among power generation companies healthy,” Rastine Mackie D. Mercado, research director at China Bank Securities Corp., told BusinessWorld via e-mail.

He added that power generation firms could continue to tap equity markets for potential fundraising opportunities.

“However, we think that continuing uncertainties around possible changes in US government policies, alongside potential upside US inflation risks and consequential changes to the Fed’s policy outlook could weigh on investor sentiment in the near term, and may present a challenge for companies looking to conduct an IPO,” he said.

An improvement in market conditions should help support appetite for potential listings this year, he also said.

Last year, there were only three IPOs, namely gold and copper mining company OceanaGold (Philippines), Inc., and energy companies Citicore Renewable Energy Corp. and NexGen Energy Corp.

This was below the six-IPO target of the Philippine Stock Exchange (PSE).

The PSE was supposed to have its fourth IPO in 2024 with the public listing of Cebu-based fuel retailer Topline Business Development Corp., but it decided to move its offer period to the second quarter of 2025 to accommodate institutional investors.

For 2025, the PSE is aiming to raise P120 billion in capital.

“Current market conditions are not conducive for IPOs in general,” Juan Paolo E. Colet, managing director at China Bank Capital Corp., said in a Viber message.

“While some exceptional companies can probably command good valuations notwithstanding the weak market, we think most potential IPO candidates will be extra patient until investor sentiment and fund flows improve significantly, there is more clarity on Trump 2.0, and the midterm elections are done,” he added.

On Monday, US President-elect Donald J. Trump was inaugurated, marking the start of his second term.

Energy firms considering going public will have more reason to wait, said Mr. Colet, amid generally low trading of the more established listed energy players.

“At this point, our best case is that only one or two energy companies can do an IPO this year,” he said.

Some analysts, however, expressed optimism about the potential listings from the energy sector.

“The Philippine energy sector remains poised for continued growth this year, underpinned by rising demand for reliable power, supportive government policies on renewables, and growing investor appetite for sustainable projects,” said Jayniel Carl S. Manuel, equity trader at Seedbox Securities, Inc.

Mr. Manuel said that the government’s support and the growing need for reliable energy have helped foster “a good climate for these listings.”

Following the “positive showings” of recent energy IPOs such as Citicore, NextGen, and Alternergy Holdings Corp., he said that this reflects a clear demand for power companies in the country, especially those focused on clean and renewable energy.

“We expect several energy firms to consider going public this year, but their success will depend on careful preparation and broader market conditions,” he said. “In the end, having a strong, transparent plan for growth and showing that the business can be both profitable and responsible will be key to maintaining the positive track record we’ve seen so far.”

Conducting IPOs is among the ways to raise capital for large-scale projects, Toby Allan C. Arce, head of sales trading at Globalinks Securities and Stocks, Inc., noted.

“The energy sector, especially renewables, offers high growth potential as it aligns with long-term global trends. IPOs are an effective way to capitalize on investor interest and raise funds for scaling operations,” Mr. Arce said.

Metro Pacific Agro Ventures eyes gov’t partnership for dairy cattle

REUTERS

METRO PACIFIC Agro Ventures, Inc. (MPAV) said it is looking to participate in the government’s plan to increase the country’s dairy herd by providing a potential quarantine site for imported cattle.

“The new facility that we are building in Laguna with the Israelis is so high-tech that we are pitching to the government that it becomes the natural quarantine facility for all cows imported from other countries entering the Philippines,” MPAV President and Chief Executive Officer Jovy I. Hernandez said during a briefing late Wednesday.

The government aims to increase dairy production to 80 million liters per year by 2028 to increase the share of domestic production to about 5% of dairy demand.

“Part of the agenda of the National Dairy Authority (NDA) is to increase the total herd size of the Philippines,” Mr. Hernandez added.

The NDA said that it is looking to import 5,000 heads of cattle by 2028 as part of its goal to increase dairy self-sufficiency by 5% from the current 1.5%.

Under the NDA’s program, the calves of the imported dairy herd would be distributed to about 150,000 farmers.

“I know that the NDA wants to establish stock farms within the country. The intention is for every region to have one, so of course, we in the private sector, if we can help in some of those areas, we will be willing because, again, it’s part and parcel of uplifting the industry,” he said.

The Philippines imports about 99% of its dairy requirements as domestic production cannot meet market demand.

MPAV, in partnership with Israel-based LR Group, is set to start the operations of its P2 billion integrated dairy facility by April.

“We’re expecting the new herd to come in April and already start the operations there. In fact, by the fourth quarter of this year, we’re expecting full-blast raw milk production already,” he said.

Mr. Hernandez said that the company expects to be fully sufficient in its dairy needs by 2026, meeting about 25% of the Philippines’ demand.

“By 2026, we will be self-sufficient in terms of milk supply, for the demand that we are seeing, roughly about 25% of the local dairy production,” he added.

The company currently has stakes in The Laguna Creamery, Inc., which owns the brands Carmen’s Best ice cream and Holly’s Milk.

Last year, it also acquired 100% ownership of Universal Harvester Dairy Farms, Inc. (UHDFI) for over P700 million to expand its dairy business and market.

MPAV is the agriculture unit of Metro Pacific Investments Corp. (MPIC). It has businesses in vegetable production, coconut processing and export, integrated dairy processing, and ice cream.

MPIC is one of three key Philippine units of First Pacific, the others being Philex Mining Corp. and PLDT Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority share in BusinessWorld through the Philippine Star Group, which it controls. — Adrian H. Halili

Watsons Philippines reaches 1,166 stores nationwide

PHILSTAR FILE PHOTO

THE SM Group’s health and beauty retail brand, Watsons Philippines, said it opened 80 new stores last year, growing its nationwide presence.

The new store openings brought the total store count of Watsons Philippines to 1,166 as of the end of 2024, SM said in an e-mailed statement on Thursday.

Watsons has three store formats: Watsons Pharmacy with more than 1,000 locations, SM Beauty in 76 SM Stores, and the multi-brand outlet LOOK at SM Aura and SM Mall of Asia.

SM said more than 50 out of the 80 store openings last year were located outside Metro Manila, including key cities and municipalities in Visayas and Mindanao.

Watsons Philippines Customer Director Jared Ernest De Guzman said one of the brand’s growth drivers is the establishment of community pharmacies in neighborhoods across the country.

“Watsons is not only expanding in malls but is also committed to establishing a strong presence in local neighborhoods. By the end of 2024, we had 400 community stores throughout the Philippines, ensuring accessibility and convenience for our customers,” he said.

“Our community stores bring essential healthcare products closer to home, catering to the convenience sought by our busy shoppers. They have become vital destinations for health, beauty, and wellness needs,” he added.

Watsons Philippines is a joint venture between the SM Group and Hong Kong-based AS Watson & Co. Ltd.

The Watsons brand opened its 8,000th store in Asia at the SM Mall of Asia last year as part of the brand’s global expansion.

Citing a recent study by Bain and Co., SM said that 85% of consumers in the region prioritize healthcare maintenance, with 51% willing to increase out-of-pocket spending for better health outcomes and experiences.

“The Philippines has been selected for this momentous occasion because it’s one of the fastest-rising economies in Asia and a strategic market for A.S. Watson. This vibrant and highly potential market has a young demographic that increasingly focuses on health and beauty, aligning perfectly with Watsons’ expertise,” A.S. Watson Group Chief Executive Officer Malina Ngai said.

Shares of the SM Group’s listed holding company, SM Investments Corp., rose by 1.78% or P15 to P860 apiece on Thursday. — Revin Mikhael D. Ochave

Cebu Pacific to transfer Siargao, Masbate flights to Clark by March

BUDGET carrier Cebu Pacific said it will relocate its turboprop aircraft operations from Ninoy Aquino International Airport (NAIA) to Clark International Airport (CRK) on March 30.

The budget carrier, operated by Cebu Air, Inc. (CEB), will start the gradual relocation of its turboprop aircraft operations on March 30, the company said in a statement on Thursday. It cited a resolution issued by the Manila Slot Coordination Committee of the Department of Transportation (DoTr) to remove turboprop aircraft operations at NAIA.

Affected flights include Manila-Masbate-Manila and Manila-Siargao-Manila, which are operated by its regional brand Cebgo. These flights will now be moved to Clark.

Direct services from Manila to Surigao will be canceled, Cebu Pacific said, adding that passengers are now given the option to connect via Cebu.

“CEB recognizes the importance of managing airport capacity effectively, which will lead to improved passenger experience and greater public convenience,” Cebu Pacific said.

To recall, the New NAIA Infra Corp. (NNIC) said that among its plans to modernize NAIA operations was to transfer turboprop aircraft operations outside the country’s main gateway to help decongest the airport.

Furthermore, Transportation Undersecretary for Planning and Project Development Timothy John R. Batan said that not all turboprop aircraft will be removed from NAIA to Clark International Airport.

The changes will not be abrupt and do not necessarily mean that all turboprop aircraft will be moved to other airports, he said, justifying the move by explaining that turboprop aircraft can only carry a few passengers but require a long time for runway preparations.

“Our current operator, NNIC, is doing this to increase flights and passenger volume at NAIA. This again does not cover all turboprops; the plan is to replace turboprops with jet operations,” Mr. Batan said on DoTr’s radio program on Radyo Pilipinas.

He said, however, that turboprop aircraft may also transfer to Sangley Point Airport.

Additionally, Cebu Pacific’s wholly owned subsidiary boutique airline AirSWIFT Transport, Inc., will continue to operate at Terminal 2 of NAIA until March 2026.

All affected passengers of the transfer will be provided with a free booking option, travel fund conversion, or full refund, Cebu Pacific said.

Meanwhile, Luzon International Premiere Airport Development (LIPAD) Corp., the operator of Clark International Airport, said it is prepared to accommodate more passengers at Clark airport.

“We have not yet determined the impact of the move on our passenger volume as we haven’t received the final number of flights to be transferred to Clark,” LIPAD Chief Executive Officer Noel F. Manankil told BusinessWorld in a Viber message.

For this year, LIPAD is expecting a total of 3.04 million passengers, up by 26.7% from last year’s total passenger tally of 2.4 million, Mr. Manankil said.

“CRK also has the capacity to connect international travelers to our famed ‘island destinations’ with our transfer facility, which is housed in the same terminal,” he said. — Ashley Erika O. Jose

ERC OKs EDC’s connection facility for Tanawon Geothermal in Bicol

THE Energy Regulatory Commission (ERC) has allowed a subsidiary of Energy Development Corp. (EDC) to build a connection facility to link its up to 22-megawatt (MW) Tanawon Geothermal Power Plant in Sorsogon to the Luzon grid.

The ERC authorized Bac-Man Geothermal Inc. (BGI) to develop and own dedicated point-to-point limited transmission facilities to connect the power plant to the grid, according to a document posted on its website.

The company will link the facility to the grid through the 230-kilovolt (kV) Daraga Substation of the National Grid Corp. of the Philippines, via the 230-kV Palayan Binary Geothermal Power Plant Switchyard and the Bac-Man I 230- kV transmission facilities.

The approval, however, is subject to the conditions and instructions from the commission.

BGI sought the approval of the ERC last year to develop, own, and operate the connection asset.

Based on its application, BGI intends to construct an approximately 7.5-kilometer, 230-kV transmission line, which includes a switchyard and other related facilities.

“The Tanawon Geothermal Power Plant Connection Asset is financially feasible, and BGI has the financial capability to develop, operate, and maintain the connection asset,” the company said.

The cost of constructing and developing the connection asset is estimated at P637.12 million. The power project, including the connection asset, will be funded through cash, it said.

The Tanawon Geothermal Power Plant is part of EDC’s expansion of the 140-MW Bacon-Manito (BacMan) Geothermal Power Plant in Albay.

In July last year, EDC successfully synchronized its 28.9-MW Palayan Binary Geothermal Power Plant to the Luzon grid.

These two projects are among the four geothermal projects in the company’s pipeline. Others include the 28-MW Mahanagdong Binary in Leyte and the 5.6-MW Bago Binary in Negros Occidental.

EDC, the renewable energy arm of Lopez-led First Gen Corp., has an installed capacity of 1,480.19 MW, accounting for about 20% of the country’s total installed renewable energy capacity. — Sheldeen Joy Talavera

Japanese film fest celebrates shared values

NOW ON its 28th year, the Japanese Film Festival (JFF) presents a selection of 12 full-length films from a variety of genres to “spark something new in the audience,” said its festival director Yojiro Tanaka.

The annual film festival is presented by the Japan Foundation Manila and will run from Jan. 30 to March 2 at the Shangri-La Plaza cinemas in Mandaluyong City, SM North EDSA in Quezon City, and in several cities across the country: Baguio, Cebu, Iloilo, and Davao.

The JFF will kick off at the Shangri-La Plaza from Jan. 30 to Feb. 9.

“In Zen Buddhism there is a word satori, which means a sudden awakening or enlightenment. Satori is the perfect word to describe this year’s lineup of films, whether it’s the profound awakening of the characters in the movie or the feeling that the audience will get after watching,” Mr. Tanaka said in a message to BusinessWorld.

He added that the Filipino audience will see qualities that are shared by both cultures: “the resilient spirit, the perseverance, and the compassion reflected and celebrated in both Japan and the Philippines.

“The audience may discover through the films that our values are more alike than we think,” he said.

Last year, the JFF exceeded its target of 30,000 cinemagoers, attracting over 40,000 people. With popular blockbusters like the Academy Award-winning monster epic Godzilla Minus One (2023) and the animated cult classic Akira (1988), they hope to continue fostering Filipinos’ love for Japanese culture this year.

“We also included the films Haikyuu! The Dumpster Battle (2024) and DitO (2024) in our lineup because we know that Filipinos are big sports fans,” Mr. Tanaka added. “Both films are fantastic films that show the excitement of volleyball and boxing, respectively.”

Another notable inclusion in this year’s lineup is Sand Land (2023), the pinnacle of beloved mangaka Akira Toriyama’s fictional universe. Creator of the Dragon Ball series, Mr. Toriyama passed away in 2024, leaving a monumental legacy in the world of animé and manga.

The fourth animated film in this year’s lineup is Studio Ponoc’s The Imaginary (2023), which delves into the limitless imaginations of children. It is based on the award-winning novel of the same name by A.F. Harrold.

Meanwhile, the audience can look forward to the drama Under the Open Sky (2021), starring Koji Yakusho as a middle-aged ex-Yakuza struggling to get back on his feet after over a decade in prison.

For cinephiles, another Koji Yakusho-starrer, Wim Wenders’ Perfect Days (2023), will grace the big screen following its nomination last year for Best International Feature, and a Best Actor win at Cannes for Mr. Yakusho. The acclaimed film Monster (2023) by Hirokazu Kore-eda will also be in the lineup.

Hopeless romantics can look forward to a bittersweet love story in Our Secret Diary (2023), starring Fumiya Takahashi and Hiyori Sakurada as high school students who strike up a romance based on a lie. Meanwhile, those seeking a laugh can go for the comedy Let’s Go Karaoke! (2024), where a high school choir club leader gives a Yakuza member singing lessons and finds an unlikely friendship.

Rounding off the lineup is suspense thriller Matched (2024), which starts off with a woman entering a promising dating app scenario until she discovers sinister things about her date.

While admission is free, Mr. Tanaka explained that JFF will be employing an online ticketing system “to make procuring tickets convenient and to avoid long waiting lines.”

A convenience fee will apply for tickets bought online, done through the Ticket2Me website. Walk-in guests are welcome if seats are still unoccupied, though availability is not guaranteed.

“We would like to remind our audience that the free screenings of these films are presented in the spirit of sharing and friendship,” Mr. Tanaka said.

The JFF will run at the Shangri-La Plaza mall cinemas from Jan. 30 to Feb. 9, at SM City Baguio from Feb. 7 to 16, at SM City Iloilo and SM Seaside City Cebu from Feb. 14 to 23, and at SM City Davao and SM North EDSA from Feb. 21 to March 2.

For the full screening schedule and ticketing guidelines, visit the Japan Foundation, Manila and JFF’s social media pages. — Brontë H. Lacsamana