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MANILA, Philippines — Public Works and Highways Secretary Mark Villar and Metro Pacific Tollways Corp. (MPTC) officials conducted yesterday the final inspection on the 5.65-kilometer portion of the NLEX Harbor Link Segment 10 from Karuhatan, Valenzuela City to the new Caloocan Interchange in C3 Road, Caloocan City which will open next week.
Villar said the road project, which has faced delays for its inauguration in the previous months, is set to open next Tuesday. The new segment is expected to alleviate traffic congestion in Metro Manila as it will serve as an alternate corridor for motorists traveling from Central and North Luzon provinces, Valenzuela City, and Quezon City to Manila. Read more: Philippine Star MANILA, Philippines — The start of construction of the P357-billion Metro Manila subway project is finally pushing through next week after its original commencement schedule last December was moved.
The Department of Transportation (DOTr) said it would hold the groundbreaking event for the subway project on Feb. 27. “The Metro Manila Subway is the Philippines’ first-ever underground railway system. Before, people cast doubts and said it is all but a dream. But, on Feb. 27, we will show them that this is real,” Transportation Secretary Arthur Tugade said. Read more: The Philippine Star The regional macroeconomic surveillance organization Asean+3 Macroeconomic Research Office (Amro) has slightly raised its 2019 growth forecast for the Philippines as inflation eases and the government builds more infrastructure this year.
In a statement, Amro said its latest projection showed the Philippines’ gross domestic product (GDP) expanding by 6.4 percent in 2019, up from its earlier growth forecast of 6.3 percent. Read more: Philippine Daily Inquirer MANILA, Philippines — With an expanding labor force, the Philippines will be eclipsed only by India among emerging markets (EMs) expected to post the fastest economic growth in the next 10 years.
In a February 15 report, UK-based Oxford Economics projected the Philippines’ gross domestic product (GDP) to grow by an average of 5.3 percent between 2019 and 2028, only outpaced by India’s 6.5 percent. Read more: Philippine Daily Inquirer  Metro Manila (CNN Philippines, February 18) — The Department of Tourism (DOT) is retaining the country's flagship tourism campaign, setting a higher tourist arrivals target this year.
Tourism officials on Tuesday launched the "It's More Fun In The Philippines" campaign for 2019, with a few tweaks on the logo. The redesigned logo now has a new font and features a weave with colors representing Filipino products. The previous logo had the Philippine map. The DOT said the campaign's promotional video includes crowdsourced clips and photos from tourists. "The hashtag works. And second, like in other countries, they never change their campaign... In Malaysia? It's been 'Malaysia truly Asia.' The Philippines has embraced the hashtag," Tourism Secretary Bernadette Puyat said. Puyat said the agency also aims to promote sustainability through this year's campaign. "We are coming into 2019 with a renewed and refreshed sense of purpose, more and more travelers conscious about their ecological footprint, the culture and experiences they are consuming and simply wanting to know how they can give back," she said. Read more: CNN Philippines  MANILA, Philippines — Clark Development Corp. (CDC) earned P1.19 billion in the 10 months to October last year, surging past the full-year income in 2017.
In a statement, Alizaido Paras, assistant vice president for finance at CDC, said the 10-month net profit was higher than the then record P1 billion income in 2017. CDC said it benefitted from its move to attract more investments to the freeport. The state-owned firm ended last year with a total of 1,038 locator companies, bringing in an additional 89 locators at the freeport. With the increase in locator firms, the freeport also saw higher employment. Read more: Philippine Star MetroPac Movers Inc. (MMI), the logistics arm of Metro Pacific Investments Corp. (MPIC), has tapped Aboitiz Construction Inc. to develop a 20-hectare property in Gen. Trias, Cavite into a “mega” distribution hub.
MMI and Aboitiz Construction signed a memorandum of agreement for the development of the South Mega Distribution Center (South Mega DC), MetroPac Movers said in a press statement. Read more: Philippine Daily Inquirer MANILA, Philippines — Major railway projects in Luzon are poised to make significant progress this month, according to top officials of the Department of Transportation (DOTr).
The DOTr signed yesterday the P2.8 billion design and build contract of the Unified Grand Central Station (UGCS) Area A with at consortium led by Marikina City Rep. Bayani Fernando. The UGCS, also known as the common station, is designed to inter-link the four-railway lines namely, LRT-1, MRT-3, MRT-7, and the Metro Manila Subway. Read more: Philippine Star  MANILA, Philippines — State-run Bank of Taiwan has opened a liaison office in the Philippines, bringing to 13 the number of foreign banks operating a representative office in the country.
Bangko Sentral ng Pilipinas Deputy Governor Chuchi Fonacier issued Circular Letter 2019 – 011 announcing the opening of the Bank of Taiwan - Manila Representative Office last Jan. 31. “As a liaison office of the Bank of Taiwan which deals directly with the public, its function shall be limited to promoting and providing information about the services or products offered by Bank of Taiwan and shall not include those of its affiliates,” Fonacier said. Read more: Philippine Star MANILA, Philippines — Top logistics company Asia Cargo Container Line Inc. has obtained an ISO 9001:2015 certification from TUV Rheinland signifying its adherence to management standards in providing quality standards to its clients , providing a fitting backdrop to its 25th year in the business set next month.
Founded by brothers, Armand and Richard Ng, the company continues to provide forwarding, warehousing, and distribution and complete supply chain work flow throughout the Philippines. The ISO 9001:2015, the world’s most widely recognized quality management system certification by international standard , was accorded Asia Container Cargo after it instituted an extensive self-assessing, internal auditing, and employee training to enhance the competency of its personnel. Read more: Philippine Star |
ABOUT PTIC TAIPEI
The Philippine Trade & Investment Center in Taipei is the Commercial Affairs Section of the Manila Economic and Cultural Office and the representative office of the Philippine Department of Trade & Industry in Taiwan Archives
February 2019
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