Tag: infrastructure

THE Philippines is closer to securing a single-A credit rating from Japanese Credit Rating (JCR) Agency, after the debt watcher raised its outlook on the country to BBB+ positive from BBB+ stable.

STATE economic managers flew to Washington D.C. last week to showcase the country’s infrastructure developments and economic reforms, in efforts to woo more foreign firms to invest in the Philippines.

A SURGE in state spending, despite delayed enactment of the P3.757-trillion national budget for 2019, fueled the fiscal deficit to grow nearly half in February, the Bureau of the Treasury reported on Friday.

PRESIDENT RODRIGO R. Duterte has rejected the bill creating the Regional Investment and Infrastructure Coordinating Hub of Central Luzon (RICH), citing “substantial fiscal risks” to the economy given its provisions on incentives.

DEVELOPING COUNTRIES like the Philippines should invest more to improve living conditions and contribute to global efforts against climate change, the World Bank said.

A TOTAL OF four tower companies have signed memoranda of understanding (MoU) with the Department of Information and Communications Technology (DICT) this week as high demand for towers in the country makes the Philippines an attractive market.

THE GOVERNMENT’s flagship “Build Build Build” infrastructure development program — meant to spur overall economic growth to a sustained faster pace — has suffered delays due to a lack of workers, President Rodrigo R. Duterte himself admitted on Thursday night.

Despite slower economic expansion in 2018, the Philippine real estate industry remained resilient as a result of strong demand in its major segments, especially...

Owing to the country’s continued economic growth, powered by growing consumption and ongoing infrastructure development, the Philippines is on the fast track towards prominence...

ECONOMIC MANAGERS will discuss in a meeting next month of the Development Budget Coordination Committee (DBCC) ways to mitigate the economic impact of a partially reenacted budget and the public works ban ahead of the May 13, 2019 midterm elections, the chairman of the interagency body said on Wednesday.

THE PHILIPPINES can be expected to close in on the top 10% of the world’s major economies in the next 15 years, partly as improved infrastructure spurs overall economic growth, according to a London-based consultancy.

THE WORLD BANK cut its economic growth forecast for the Philippines as sustained high inflation, lower infrastructure disbursements next semester due to reenactment of the national budget and continued weakness of global trade offset the lift from spending related to the May 13, 2019 mid-term elections.

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THE NEWLY inaugurated Cavite Gateway Terminal (CGT) is expected to reduce road traffic by up to two kilometers of trucks every day, or 140,000 fewer truck trips every year, the Department of Transportation (DoTr) said in a statement on Friday.

THE NATIONAL Economic and Development Authority (NEDA) raised the project cost for the long-haul commuter line of the Philippine National Railways (PNR) by nearly double to buy more trains and build elevated tracks.

The transportation and logistics industry of the Philippines is in the midst of a much-needed transformation, thanks in large part to the aggressive push...

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THE North Luzon Expressway (NLEx) Harbor Link Segment 10 mainline is slated to open in December after the Department of Public Works and Highways (DPWH) successfully completed the delivery of right-of-way for the alignment of the toll road.

DIGITAL PAYMENTS remain pivotal in financial inclusion, industry players said, as physical and cultural issues are seen to be key barriers in serving the unbanked sector.

MOTORISTS AND commuters should expect even heavier traffic in the coming days with road closures in several parts of congested Metro Manila for infrastructure projects that started over the weekend, the Metro Manila Development Authority (MMDA) said.

Construction activities in the Philippines are swelling. According to the Philippine Statistics Authority (PSA), the total number of constructions in the second quarter of...

FOREIGN CHAMBERS welcome the government’s infrastructure development push and unveiled their annual list of recommendations to further push this drive, but believe efforts to streamline incentives would make the country less attractive to investments.

THE Development Bank of the Philippines (DBP) saw its net income rise in the first half of the year supported by its robust lending and deposit businesses.

The Department of Public Works and Highways (DPWH) opened on Thursday, Sept. 6, three new bridges in Pampanga and Bataan to replace the existing...

STATE SPENDING on infrastructure and other capital outlays surged in July on roadworks and flood control projects, along with the purchase of heavy capital equipment for the military and the coast guard, the Department of Budget and Management (DBM) said on Wednesday.

OVERALL economic growth will likely fall short of the official target this year, according to the country’s Finance chief and a financial and investment advisor, partly due to quickening inflation even as infrastructure development should pick up steam.

Senator Panfilo M. Lacson on Monday, Sept. 3, questioned anew the unresolved right of way issues of the Department of Public Works and Highways'...

Maldives -- The Maldives opposition said Friday that President Abdulla Yameen had pushed the Indian Ocean nation deeper into a Chinese "debt trap" with...

THE United States is making a pitch on behalf of US companies seeking to participate in the government’s ambitious infrastructure program.

THE GOVERNMENT expects to ink about 10 loan agreements for infrastructure projects with China during Chinese President Xi Jinping's visit here in November. "Some have...

The Department of Transportation (DoTr) said construction of the Bicol International Airport is 50% complete and is well on track for its opening in...

THE DEPARTMENT of Public Works and Highways (DPWH) said it is looking to give San Miguel Corp. (SMC) by next month the original proponent status (OPS) for its proposal to extend the Tarlac-Pangasinan-La Union Expressway (TPLEx).

Beijing -- Malaysian Prime Minister Mahathir Mohamad called on China's top leadership to help with his country's fiscal problems Monday, as he seeks to...

THE ASIAN Development Bank (ADB) has approved a $300-million loan for the Philippines to fund a program that promotes the development of public-private partnership...

DAVAO CITY — Sixty infrastructure projects in Mindanao out of 171 approved under the World Bank-funded Philippine Rural Development Project (PRDP) have been completed, based on the PRDP June report.

The government's 2017-2022 Public Investment Program (PIP) contains a rolling list of priority programs and projects that it plans to implement until the end Pres....

The Department of Budget and Management (DBM) ordered government agencies to conduct early procurement activities for 2019 projects to speed up the delivery upon...

Government spending on infrastructure and other capital outlays breached its first-semester target due to roadworks, the Budget department said. Budget Secretary Benjamin E. Diokno presented...

Premiere Horizon Alliance Corp. (PHA) is looking to venture into infrastructure, tourism, and power, after signing an agreement with Korean firm D-Eco Energy Co....

THE WORLD Bank has cited the "satisfactory" progress of the Department of Agriculture's (DA) rural infrastructure projects funded by the Washington-based lender. In its Implementation...

A report has cited the need for Asia, especially emerging economies such as the Philippines, to continuously invest in infrastructure in order to sustain economic momentum in the country and the region.

By Arjay L. Balinbin, Reporter The Philippines is not a province of the People’s Republic of China, Chinese Ambassador to the Philippines Zhao Jianhua stressed...

The Department of Public Works and Highways (DPWH) is set to begin the construction of two China-funded bridges along Pasig River by next week. DPWH...

THE GOVERNMENT has put key pieces of reforms in place for the country to build “strong momentum” to grow faster in the years ahead, economic managers said in a forum on Friday.

CEBU CITY — A Metro Pacific Tollways Corp. (MPTC) unit began on Thursday the construction of a toll bridge that will connect Mactan island to mainland Cebu.