A SOUTH KOREA cybersecurity solutions company said the Philippines urgently needs to fast-track upgrades to its cybersecurity infrastructure and policies as it emerges from the pandemic. “There’s no doubt that digitalization in the Philippines is heading in the right direction,” NETAND Chief Executive Officer Hochul Shin said in a statement on Wednesday. “Now that the […]
Tag: infrastructure
Marcos to seek out potential infra, agri investors at Davos
PRESIDENT Ferdinand R. Marcos, Jr. said he will seek out potential partners for his agriculture and infrastructure development plans at the Davos conference in Switzerland. In his pre-departure speech, Mr. Marcos added that he will pitch potential locators on the Philippines’ readiness to receive multinationals seeking to expand their operations in Asia. “I will draw […]
Infrastructure spending sharply lower in October on month-on-month basis
INFRASTRUCTURE spending fell 38.3% month on month in October to P61.2 billion, according to the Department of Budget and Management (DBM). The DBM said on Tuesday that on a year-on-year basis, expenditure on infrastructure and other capital outlays rose 0.5%. The DBM said in October, disbursements fell for the Armed Forces of the Philippines Modernization […]
Tourism brings in P149B; Gov’t banks on PPPs to boost sector
THE TOURISM industry generated P149 billion in tourism revenues as of November this year, according to Malacañang. Citing the Department of Tourism’s (DoT) yearend accomplishment report, the Office of the Press Secretary (OPS) said 2.4 million foreigners entered the Philippines this year, exceeding the target of 1.7 million international arrivals after border restrictions were lifted […]
Palace touts over 1,000 kms of roads built, repaired since July
THE GOVERNMENT has constructed and rehabilitated more than 1,000 kilometers of roads from July to November this year, according to Malacañang, as the Marcos administration vowed to provide infrastructure for unhampered transport of goods in the countryside. In a statement, the Office of the Press Secretary (OPS) said the Department of Public Works and Highways […]
Expanded private sector role eyed in DPWH projects
THE DEPARTMENT of Public Works and Highways (DPWH) said it plans to seek more private sector bids for operations and maintenance (O&M) contracts, including those financed by official development assistance (ODA). “We are promoting projects under ODA, especially expressways, for PPP (public–private partnership) O&M,” DPWH Senior Undersecretary Emil K. Sadain told BusinessWorld recently when asked […]
Shonan iPark Outlines New Operational Structure to Provide Scale and Sustainable Long-Term Growth for the Ecosystem
TOKYO, Dec 21, 2022 – (JCN Newswire via SEAPRWire.com) – Renewing its commitment to innovation in Japan and to Shonan Health Innovation Park (“Shonan iPark”), Takeda Pharmaceutical Company Limited (“Takeda”) today announced the creation of a new company, effective April 1, 2023, together with Industrial & Infrastructure Fund Investment (“IIF”) and Mitsubishi Corporation (“Mitsubishi Corp.”), […]
Telcos seek EO for permanent expedited tower permit process
THE telecommunications industry and the Anti-Red Tape Authority (ARTA) are asking President Ferdinand R. Marcos, Jr. to issue an executive order (EO) to make permanent the expedited permit process for the construction of towers and other internet infrastructure. ARTA and the telcos, represented by the Private Sector Advisory Council (PSAC) Digital Infrastructure Sector, noted that […]
PLDT in talks to sell 2,000 more towers
THE PLDT group said on Tuesday that it has received preliminary approaches from potential buyers regarding the sale of an additional 2,000 telecom towers. The group is expediting the sale of the towers and is requiring interested parties to submit letters of intent (LOIs) as a preliminary to striking a formal and detailed purchase deal. […]
Moonstake Receives ssv.network Grant to Integrate Decentralized ETH Staking
SINGAPORE, Nov 16, 2022 – (ACN Newswire via SEAPRWire.com) – Today, Moonstake is pleased to announce we have secured a staking pool integration grant from the DAO-governed SSV Network to integrate ETH staking on the Moonstake Wallet. Moonstake will be integrating SSV’s unique architecture to bolster Ethereum decentralization and ensure Moonstake’s validator infrastructure is as […]
AIIB to dedicate 50% of loans to climate change projects
THE Asian Infrastructure Investment Bank (AIIB) said it will reserve at least 50% of its loan portfolio to climate change mitigation projects by 2025. “We focus on 50% and upwards for financing of climate change adaptation and mitigation by 2025. This is the most important part given the urgency of climate change. Times have now […]
DoTr’s Bautista pitches transport investments to Swiss companies
TRANSPORTATION Secretary Jaime J. Bautista invited Swiss to invest in Philippine transport infrastructure projects via public-private partnerships (PPP), his department said in a statement on Wednesday. “Speaking at the Swiss Innovation Exhibit that marked 65 years of Philippine-Swiss relations at Hyatt Hotel on Oct. 25, Sec. Bautista wants to fast-track the completion of big-ticket transport […]
Higher Mindanao budget sought
CONGRESSMEN from Mindanao on Tuesday sought a bigger budget for the region next year to boost infrastructure including farm-to-market roads. In a statement, Basilan Rep. Mujiv S. Hataman said Mindanao’s 2023 infrastructure budget was cut by 64% to P30.49 billion from this year. “We are saddened by the big budget decrease,” he said. “If the […]
P2.5B allotted for airport upgrades — congressman
THE DEPARTMENT of Transportation plans to spend P2.5 billion to upgrade at least five airports on the three main islands of Luzon, Visayas and Mindanao, Makati City Rep. Luis Jose Angel S. Campos, Jr. said in a statement on Sunday. The agency’s aviation infrastructure program in the 2023 proposed national budget seeks to allot P1.42 […]
Japan reaffirms support for PH infra program
THE Philippines and Japan reaffirmed their strong economic partnership, especially in infrastructure development, during a courtesy call meeting between Finance Secretary Benjamin Diokno and Japanese Ambassador to the Philippines Kazuhiko Koshikawa.“The Ambassador reiterated Japan’s continued support for the Philippines’ massive infrastructure program, the development of Subic Bay and Mindanao, and other sectoral cooperation in health, […]
COA flags Cordova execs over bidding activities
THE Commission on Audit (Coa) has called the attention of the previous administration of Cordova town, Cebu over its procurement activities in 2021, including conducting public bidding for infrastructure projects worth P23.5 million only participated in by and awarded to lone bidders.State auditors also found that the previous Cordova administration led by then mayor Mary […]
AIIB Commits US$100 million in CEL Infrastructure Investment Fund II
HONG KONG, Jul 5, 2022 – (ACN Newswire via SEAPRWire.com) – CEL Infrastructure Investment Fund II (“Fund II”), a private equity fund sponsored and managed by China Everbright Limited (“CEL”, stock code: 165.HK) has made significant progress in fundraising. On June 29, 2022, Asian Infrastructure Investment Bank (“AIIB”) approved to commit of US$100 million including […]
Hexagon and Fujitsu Announce Strategic Partnership to Solve Societal Challenges for ‘Trusted Society’
HUNTSVILLE, Ala. and Tokyo, Jun 22, 2022 – (JCN Newswire via SEAPRWire.com) – Hexagon’s Safety, Infrastructure & Geospatial division and Fujitsu Limited will partner to accelerate the development and promotion of use cases to solve societal challenges and contribute to the realization of the ‘Trusted Society’ — a sustainable, resilient place where people can live […]
Mitsubishi Corporation signs Participation Agreement with Sempra Infrastructure, TotalEnergies, Mitsui for Carbon Sequestration Project in Louisiana
TOKYO, May 24, 2022 – (JCN Newswire via SEAPRWire.com) – Mitsubishi Corporation is pleased to announce that it has signed a participation agreement with Sempra Infrastructure, TotalEnergies and Mitsui & Co., Ltd. for the development of the proposed Hackberry Carbon Sequestration (HCS) project at the site in Southwest Louisiana. The project aims to capture, transport […]
Aboitiz Group wants PPP to continue under new admin
THE infrastructure arm of the Aboitiz Group is hoping that the next administration will continue to use private-public-partnership (PPP) as a mode of infrastructure development across the country.“Infrastructure projects have a passive multiplier effect, thus we need to continue with our infrastructure program and with the limited fiscal space the government has, I think PPP […]