Infrastructure and construction giants from Europe and Asia are vying to build the country’s first “airport express” railway line that will link Manila and Clark in Pampanga province, in line with the Duterte administration’s goal to decongest the capital.
The Department of Transportation (DOTr) said on Wednesday that companies from Indonesia, Japan, Spain, South Korea, Thailand as well local builders submitted bids for three contract packages under the Philippine National Railways (PNR) Clark Phase 2.
PNR Clark Phase 2 is a 53-kilometer railway line that will run from Malolos in Bulacan to Clark in Pampanga, whose Clark International Airport is being expanded. It will extend the ongoing PNR Clark Phase 1, which will run from Tutuban in Manila to Malolos.
Once finished in 2022, travel time between Buendia in Makati and Clark airport will be cut from more than two hours to about 55 minutes, the DOTr said. The railway line will be designed to serve 340,000 passengers a day.
The DOTr said companies that submitted bids for the packages under PNR Clark Phase 2 were Spain’s Acciona, Korean firms Daelim, Dong Ah Construction and Hyundai Engineering and Construction, Filipino builders EEI Corp. and Megawide Construction Corp., Thailand’s Italian-Thai Development Public Co. Ltd., Indonesian firms PT Pembangunan Perumahan and PT Waskita Karya Tbk and Japan’s Sumitomo Mitsui Construction Co. Ltd.
Read more: Philippine Daily Inquirer
Cash is still king in the Philippines but middle-class Filipinos are increasingly warming up to cashless payments, whether it’s for physical shopping or e-commerce purchases—including video streaming, music, ride-hailing and for booking travel requirements.
This is according to the latest Visa Consumer Payment Attitudes study, the fifth edition of the Consumer Payment Attitudes Study conducted on 3,000 individuals across eight markets in Southeast Asia.
In the Philippines, there were 500 respondents, with monthly income levels ranging from P12,000 to P80,000 or covering the mass consumer segment that has access to certain banking services.
Locally, the study showed that two in every three Filipinos expected to increase their use of card payments over the next 12 months, saying these were more convenient and hassle-free. The ratio rose by 28 percent from last year’s survey.
Also, two of three respondents in the Philippines had tried going cashless and close to 60 percent had gone cashless for at least a few days.
“It is heartening to know that more Filipinos are seeing the benefits of using digital payments based on the findings from the study. Visa’s data also shows a similar trend, where we continue to see good double-digit growth in terms of spend and transactions made by Filipino cardholders,” said Dan Wolbert, Visa’s country manager for the Philippines and Guam.
Read more: Philippine Daily Inquirer
MANILA, Philippines — The Department of Tourism (DOT) has partnered with Grab Philippines to offer tourists in Intramuros a more eco-friendly way to go around Manila’s Walled City.
DOT and Grab Philippines launched Wednesday GrabWheels, a two-wheel personal mobility device (PMD) that tourists can use to roam around Intramuros.
Under a memorandum of understanding with the Intramuros Administration,Grab Philippines said it would deploy 30 GrabWheels units in Intramuros which the public can use free of charge for a three-month period.
“It’s a trial period for three months, we’re offering it for free, then after three months we can look at the uptake and decide whether we extend it for the free period or we start charging,” Grab Philippines president Brian Cu told reporters.
Tourism Secretary Bernadette Romulo-Puyat expressed her optimism for the project, adding that she hopes this could be replicated in other parks in the country.
“This is keeping with the efforts of the DOT to inculcate a culture of sustainable tourism. This is what we envision to do to some, and ideally, to all of our destinations,” Puyat said.
“We want visitors to have access to an eco-friendly but fun mode of transportation,” she added.
Read more: The Philippine Star
MANILA, Philippines — Eight Philippine companies made it to Forbes magazine’s inaugural “Asia's 200 Best Over A Billion 2019,” which lists top-performing listed companies in the Asia-Pacific region with revenues of $1 billion or more.
Out of 3,200 listed companies in the region, Ayala Corp., Cosco Capital, GT Capital Holdings, JG Summit Holdings, Jollibee Foods Corp., Megaworld, San Miguel Food and Beverage and SM Investments were among the 200 companies included in Forbes’ new list released Wednesday.
According to Forbes, the firms were evaluated based on “more than a dozen metrics” including their average five-year sales, operating income growth, return on capital, and projected growth over the next one to two years.
It added that the new list was meant to complement its “Best Under A Billion” list — which features 200 best-performing, small and midsized companies in the Asia-Pacific region with less than $1 billion in revenue.
Forbes’ said there were companies that transitioned out of the “Best Under A Billion” list and moved into the “Best Over a Billion” after raising revenues above $1 billion, such as JFC — Philippines' largest food service network operator — as well as China’s Alibaba and Tencent.
Read more: The Philippine Star
MANILA has one of the most conducive start-up ecosystems in the world, as it ranked high in multiple categories of a report assessing the environment for new enterprises.
Along with Taipei, Busan, Calgary and Frankfurt, Manila was listed as one of the top activation phase ecosystems in the world, according to Startup Genome’s 2019 Global Startup Ecosystem Report. The Philippine capital placed 10th in the global competition for Bang for Buck.
It ranked fifth in the activation ecosystem for connectedness, as well as in exit growth index.
Moreover, Manila was sixth across the world in output growth index and ninth in funding growth index. The assessment also put the city’s financial technology (fintech) industry in the spotlight, as it comprised 15 percent of all start-ups.
According to the report, Manila’s fintech transaction value last year amounted to about $5.7 billion and is projected to hit $10.5 billion by 2022.
Read more: Business Mirror
Taipei, Aug. 13 (CNA) Sercomm Corp., a Taiwan-based wireless network and broadband equipment supplier, will increase the ratio of its global production in its factory in the Philippines and lower the ratio in China amid escalating trade friction between the United States and China, Investor.com.tw reported Tuesday.
In an investor conference, according to the report, Sercomm President James Wang (王煒) said his company has set up a third production site in the Philippines after one in Taiwan and another in China, and is planning to raise the weighting of the Southeast Asian country in its global production to 30 percent from the current 20 percent.
The Philippines factory went into operation in the second quarter of this year, the report said.
China will account for 50 percent of Sercomm's total production, down from the current 60 percent, while Taiwan's weighting is expected to remain unchanged at 20 percent, Wang said in the report.
Read more: Focus Taiwan
TASHKENT – This charming Central Asian country of Soviet-era buildings, blue-tiled madrasas and mosaic-covered mosques is many things to many people – a state that was once under Stalin’s shadows, the heart of the fabled ancient Silk Road and home of the world’s best rice pilaf, cooked in more than a hundred ways.
It’s an enigmatic republic with a 3,000-year old history and enthralling ancient stories; some of its cities are evocative, mythical, and straight out of the famed Arabian Nights.
For low key taipan Carlos Chan, Uzbekistan is the next frontier for his sprawling global snack foods empire, the Liwayway Group, which is behind the iconic Oishi brand.
Liwayway is indeed making its foray here, the first Filipino-owned snack foods giant to do so, a move which the Republic of Uzbekistan very much welcomes.
Government officials are excited and the excitement in the air is almost tangible.
Read more: Philippine Star
More than 1,700 exhibitors, including Filipino food firms, joined the 2019 Food Taipei 5-in-1 Mega Expo in Taiwan.
Philippine trade attache to Taiwan Michael Alfred Ignacio said 11 Filipino food and beverage companies joined this year’s exhibition. The Philippine line-up was composed of established companies like Century Pacific Food Inc., Destileria Limtuaco & Co. Inc., Team Asia Corp., Tropicana Food Products Inc. and Grand Asia Integrated Natural Coco Products Corp.
High-innovation companies such as JND Manufacturing Industries Inc., Leonie Agri Corp., Mira’s Turmeric Products, Pasciolco Agri Ventures, Yearluck Food and Industrial Corp. and Yanyan International Philippines Inc. also participated in the Mega Expo which consists of five events—Food Taipei, Foodtech & Bio/Pharmatech Taipei, Taipei Pack, Taiwan Horeca and Halal Taiwan. The Taiwan External Trade Development Council organized the Mega Expo.
Read more: Manila Standard
TAIPEI (Taiwan News) -- Taiwan President Tsai Ing-wen (蔡英文) announced today (Aug. 1) that Taiwan pulled ahead of the rest of the pack of Asia's four tigers in the second quarter thanks in part to total investment by Taiwanese businesses returning from China exceeding NT$500 billion (US$16 billion) so far this year, doubling the original goal for 2019.
On her Facebook page this morning, Tsai wrote: "Taiwan's economic performance is good, everyone continues to fight together." Taiwan's economic growth rate reached 2.41 percent in the second quarter, surpassing rivals South Korea (2.1 percent), Hong Kong (0.6 percent), and Singapore (0.1 percent), according to the Directorate General of Budget, Accounting, and Statistics (DGBAS).
Tsai said the good results were not accidental but are due to three years of patience in adjusting the economic quality of Taiwan. "Starting last year, in response to the trade war between the U.S. and China, we have helped enterprises invest in Taiwan and distribute globally. Now the achievements have started to pour in," wrote Tsai.
Read more: Taiwan News
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