Toshiba Corp. plans to invest billions of pesos in the Philippines over the next three years to expand its production of high-capacity hard disk drives used by data centers, a move expected to create around 3,000 jobs.
The Bureau of the Treasury is shopping government bonds at the shopping mall, breaking from its traditional roadshows to bring investing closer to ordinary Filipinos.
The Philippines and Singapore have concluded negotiations to update their nearly 50-year-old tax treaty, seeking clearer rules for cross-border income as trade and investment between the two Southeast Asian economies expand.
Up to P419.9 billion in UK-backed financing could become available for Philippine projects in energy, transport, water, aviation and other infrastructure under a new government-to-government partnership between Manila and London.
The Philippines has secured an AUD45-million, or about P2-billion, grant from Australia to support reforms aimed at attracting investments, lowering the cost of doing business and creating more jobs.
The Philippines has secured a $60-million, or about P3.68-billion, grant from the United States to pursue energy sector reforms aimed at making electricity more affordable and reliable while attracting more investments.
Finance Secretary Frederick Go welcomed the Japan Credit Rating Agency Ltd.’s (JCR) affirmation of the Philippines’ A- rating with a stable outlook, saying it validates the government’s fiscal discipline and long-term economic reform agenda.
The Philippines is seeking to move beyond the extraction and export of raw minerals and capture more value from its natural resources through domestic processing and manufacturing under a new national mining policy framework.
The Philippines is set to receive up to $600 million, or about P36.95 billion, in grant funding from the United States to strengthen the country’s healthcare system and defenses against infectious disease outbreaks.