Foreign chambers seek reforms at PHL airports
The Joint Foreign Chambers (JFC) declared support for legislative action that will overhaul the governance framework for Philippine airports following flight delays at the Manila gateway. “These reforms are essential to enhancing the safety, efficiency, and overall quality of both domestic and international airports in the Philippines,” the JFC said.
28 priority projects lined up for Luzon Economic Corridor
The Philippine government has presented a list of 28 priority projects in areas such as infrastructure development, electronics and semiconductors, food production and storage and renewable energy sourcing in the proposed Luzon Economic Corridor.
Philippine launches ambitious railway development plan
In a bid to alleviate the Philippine economy, reduce traffic congestion, enhance connectivity, reduce carbon emissions, and enhance food security across the archipelago, the government has launched an ambitious railway development plan that aims to modernize and significantly expand the country’s railway network.
DBCC won’t revise target ‘for now,’ says Balisacan
The Development Budget Coordination Committee (DBCC) is not planning to revise next year’s growth target “for now,” NEDA Secretary Balisacan said. “Until we see the numbers for this year, we won’t revise the numbers for next year,” he said.
BSP to maintain ‘restrictive’ policy
“Given upside risks, the BSP has decided to sufficiently maintain a restrictive policy stance in order to ensure that we anchor inflation expectations, so that it will not result in further second-round effects,” BSP Senior Assistant Governor Iluminada T. Sicat said at the Philippine Economic Briefing.
Energy dep’t warns Luzon grid may experience red alerts until next week
“If the situation does not improve, if the plants that went offline because of the typhoon do not come back by next week, probably we’ll have a red alert also next week,” Energy Undersecretary Rowena Cristina L. Guevara said.
Investments poured into Subic Bay Freeport Zone has reached $11.54 billion the past 30 years or from 1992 to 2023, according to Eduardo Alino, administrator of the Subic Bay Metropolitan Authority. Alino said at the Bagong Pilipinas interview yesterday these investments by over 2,000 locators now employ 158,000 workers. Exports of these locators amounted to $1.9 billion.
DoTr studying MRT-7 realignment proposal
“The Department of Transportation (DoTr) is studying the best possible alignment for San Jose City,” Jeremy S. Regino, undersecretary for railways, said. The DoTr has said that the MRT-7 project is experiencing delays due to the right-of-way issues particularly in San Jose del Monte, Bulacan.
Mineral processing seen key to unlocking EV investments
Secretary Fred Go said mineral processing will enable Philippine ambitions to become a hub for the manufacturing of electric vehicles and components. “Instead of just focusing on exploration, or the exploitation of the minerals, we should really be looking at attracting investment in the downstream process,” he said.
Philippine companies told to ‘bake’ ESG into their operations
Philippine companies should start adopting environmental, social, and governance (ESG) practices to thrive, according to an IBM Consulting official. ESG is “no longer a choice but a necessity for Philippine businesses to thrive in today’s environment,” Arun Biswas, IBM Consulting managing partner for Asia-Pacific strategic sales and sustainability consulting, said.
Government to counter the rise of cybercrime rate
Aligned with the Philippine Development Plan (PDP) 2023 to 2028, President Ferdinand R. Marcos Jr. adopted the National Cybersecurity Plan (NCSP) 2023 to 2028 to address the rising number of cyber threats and serve as a whole-of-nation roadmap in cyberspace.
EPIRA needs way to sanction weak power franchises — NGO
“Our policy makers should consider revising Section 27 Franchising Power in the Electric Power Sector of the EPIRA (Electric Power Industry Reform Act)… to address problematic electric cooperatives that have consistently underperformed for 10 years or more… suggesting the potential revocation of their franchises,” Nic Satur, Jr., chief advocate officer of Partners for Affordable and Reliable Energy, told BusinessWorld via chat.
Napocor targets to bid out RE hybridization in off-grid areas soon
State-led National Power Corp. (Napocor) said it targets to complete the bidding process for the Accelerated Hybridization Program (AHP) soon to allow private companies to put up renewables in off-grid areas. Under the program, Napocor plans to bid out four clusters of off-grid areas such as Batanes, Palawan, Bicol, and Tawi-Tawi.
Department of Agriculture seeks more funding for high-value crops
The Department of Agriculture (DA) is seeking an eightfold increase in its budget for its high-value crops (HVC) program next year to improve the productivity of around 30 commodities and expand exports of key commodities.
DOTr endorses Philtrak proposal to convert PNR railway into BRT
The Department of Transportation (DOTr) has endorsed to the Public Private Partnership (PPP) Center the proposal of the Philtrak consortium to convert the decommissioned at-grade trackways of the Philippine National Railways (PNR) in Luzon and Panay Railways Inc. (PRI) in the Visayas into a bus rapid transit (BRT) line using hybrid electric road train (HERT) technology developed by the Department of Science and Technology (DOST).
Meralco seeks bids for 500-MW renewable energy supply
Manila Electric Co. (Meralco) has started the Competitive Selection Process (CSP) for 500 megawatts (MW) of mid-merit renewable energy (RE) capacity.
Finance dep’t expects rice prices possibly falling 20% by September
The retail price of rice is expected to drop by September by as much as 20% due to the impact of improved domestic production and the relaxation of import procedures and tariffs, the Department of Finance said.
A Deputy Speaker has introduced amendments to the nearly decade-old Republic Act 10642, known as the Philippine Lemon Law, to address the increasing complaints from consumers who struggle to hold manufacturers, distributors, dealers, or retailers accountable for deceptive business and trade practices.
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