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Showing posts with label Economy. Show all posts
Showing posts with label Economy. Show all posts

Tuesday, June 12, 2018

To Rise $14 Billion USD "Pollution Free" Hi-tech City of New Clark, Philippines' 95 Km Sq size

New Clark's developers, BCDA Group and Surbana Jurong, plan to start construction in 2022. - BCDA Group

The Philippines is planning a $14 billion 'pollution-free' city that will be larger than Manhattan

Manila, the hyper-dense capital of The Philippines, is known for its traffic jams. In a 2016 survey, navigation company Waze ranked Manila as having the "worst traffic on Earth."

The city's reliance on cars also exacerbates its growing air-pollution problem.

As a possible solution to Manila's smog and gridlock, the country plans to build an entirely new, more sustainable city called New Clark.

Plans for the $14 billion development — which will be larger than Manhattan — call for drones, driverless cars, technologies that will reduce buildings' water and energy usage, a giant sports complex, and plenty of green space.

A rendering of New Clark, a planned city for the Philippines. BCDA Group


Over the next three decades, the Philippines aims to build out New Clark about 75 miles outside Manila.

According to the development's plan, the city will eventually stretch 36 square miles — a land area larger than Manhattan — and house up to 2 million people.


New Clark will be divided into five districts, each with a specific function: government, business, education, agriculture, and recreation.


While New Clark's exact design is not fleshed out, developers say the urban plan will prioritize environmental sustainability and climate resilience.


With a minimum elevation of 184 feet above sea level, the city will likely not see much flooding.


To reduce carbon emissions, two-thirds of New Clark will be reserved for farmland, parks, and other green space.


The buildings will incorporate technologies that reduce energy and water usage.


Driverless cars, running on electric energy rather than CO2-emitting gas, will roam the streets.


Additionally, the city will feature a giant sports stadium and an agro-industrial park.


New Clark's developers, BCDA Group and Surbana Jurong, plan to start construction in 2022.


A new railway line could reduce the travel time between the two cities in half.

In late May, BCDA started the bidding process for companies to design, build, finance, operate, and maintain power and water systems in New Clark City.


The Philippines also struggles with economic development, and building an eco-city from scratch will come with a hefty price tag.


According to Wong, public-private partnerships will help finance the project.


In recent years, countries around the world — especially China — have unveiled plans for pie-in-the-sky urban developments.


Building cities from scratch rarely solve existing problems, but designing them can help urban planners imagine what's possible.


The fate of this project is still in the hand of the Duterte Administration as Budget is always required, though this project is feasible but priorities are also queuing.

Thursday, May 18, 2017

Philippines Rejects EU $278 Million USD Remote Control Fund Loan Grant

Philippines rejected EUROPEAN UNION $278 Million USD Remote Control Fund Loan Grant for 2017 Philippines Rejects European grants The Philippines will no longer accept grants from the European Union, the EU delegation to Manila said Thursday, following repeated tirades from President Rodrigo Duterte over its criticism of his...

Sunday, March 19, 2017

Solar Philippines Breakground $150 Million USD Solar Farm in Tarlac

At the ceremonial groundbreaking of the 150-MW Tarlac solar farm, with the first ‘Made in the Philippines’ panels by Solar Philippines are (from left): Energy Secretary Alfonso Cusi, Solar Philippines president Leandro Leviste, Tarlac Governor Susan Yap and Concepcion Mayor Andy Lacson Photo: PhilSTAR Solar pioneer starts 150-MW...

Saturday, March 11, 2017

Philippines' hits $7.93 Billion USD Foreign Direct Investments (FDI) in 2016

Philippines' hits $7.93 Billion USD Foreign Direct Investments (FDI) in 2016 Philippines’ FDI inflow hits record high in 2016 THE PHILIPPINES received a record $7.93 billion in actual foreign direct investment (FDI) last year, as sound macroeconomic fundamentals overshadowed the uncertainties brought about by leadership changes within and...

Friday, March 10, 2017

Philippine Export Rose Up 22.5% to $5.1 Billion USD - Fastest in 3 Years

Electronics Export in the Philippines Rose up 22.5% January to $5.1 Billion US Dollars Exports from the Philippines grew at their fastest clip in three years in January as shipments of electronics took off. Exports rose at their quickest pace in three years in January on demand for...

Wednesday, March 1, 2017

US-Asean Business Council upbeat on Philippine Economic Prospects

In Photo: Members of the US-Asean Business Council (US-ABC) hosted a roundtable for Trade Undersecretary Nora K. Terrado on February 22 in Washington, D.C.Photo: Business Mirror ‘FOR the first time in three years, the Philippines made it to the worldwide list of top 20 investment destinations of multinational...

Tuesday, February 14, 2017

Japanese Billionaire Plans to Transform Philippines into “The Next Hawaii”

Kazuo Okada. Photo: Japan Daily Press Okada to transform the Philippines into ‘the next Hawaii’ Billionaire Kazuo Okada, whose net worth stands at $2.4 billion currently, intends to transform the Philippines (EPHE) (PIE) into “the next Hawaii.” The country’s appealing beaches and its plan to become a major...

Thursday, September 24, 2015

Pantawid Gutom Cash Transfer in the Philippines Lauded by World Bank as world's best

Conditional cash transfer beneficiaries PHOTO FROM BLOGS.ADB.ORGPH cash transfer program among world’s best–World BankThe World Bank gave the country’s conditional cash transfer (CCT) program high marks, saying it was one of the “largest and best-targeted social safety net programs in the world.”Ruslan Yemstov, World Bank’s leading economist on...

Monday, September 14, 2015

Controversial ₱700-million Iloilo Convention Center opens for APEC Summit

PNoy opens Iloilo Convention CenterMANILA, Philippines - President Benigno Aquino III led on Monday the inauguration of the controversial ₱700-million Iloilo Convention Center (ICC).Aquino opened the state-of-the-art convention facility located on a 1.7-hectare lot in Iloilo Business Park, Mandurriao, Iloilo City.The ICC became controversial last year after former...

Friday, September 4, 2015

Philippines inflation falls to two-decade low

Image source: The Financial Times If you need evidence that the world faces a "third deflationary wave," look no further than the Philippines. Annual inflation in the Philippines was just 0.6 per cent in August, the lowest reading in more than two decades of records. Economists had forecast a 0.7...

Thursday, September 3, 2015

Hanjin unveils first Philippine-made 180 Meters Kaprijke LPG carrier for Belguim's Savery

First Philippine Made 180 meters long LPG carrier ship. image: philSTARHanjin unveils first Philippine-made LPG carrierSUBIC BAY FREEPORT, Philippines – Korea’s shipbuilding giant Hanjin Heavy Industry and Construction Co., Ltd.–Philippines (HHIC-Phil) recently unveiled the first-ever Philippine-made Liquefied Petroleum Gas (LPG) carrier.The LPG carrier measures 180 meters in length,...

Tuesday, September 1, 2015

Texas Instruments invests $10 million to expand Philippines facility

Texas Instruments is a world leading manufacturer of Integrated Circuits (IC) used for mobiles phones and other electronic gadgets. Image: dallasnews.comTexas Instruments Inc. has confirmed that it’s investing $10 million to expand its product distribution center in Clark Freeport, the Philippines.A groundbreaking ceremony took place there last week,...

Philippine natural and organic products to be featured in Maryland, USA trade show September

Nine Philippine companies will be joining the Natural Products Expo East, the largest natural, organic, and healthy products event in the US East Coast, from September 17 to 19 at the Baltimore Convention Center in Maryland. STAR/File photoMANILA, Philippines — Nine Philippine companies will be joining the Natural...

Silverpack investing ₱500 Million for Philippine plant

In an interview, a Silverpack official said the company plans to conquer Southeast Asia over the next decade through aggressive expansion of its manufacturing facilities and sales office across the region. image: philSTARMANILA, Philippines - Multinational packaging firm Silverpack Sdn Bhd is looking to invest ₱500 million to...

Tuesday, August 4, 2015

World-renowned economist Jeffrey Sachs: Philippines has much to teach world

LAUNCHING. Jeffrey Sachs, who serves as the director of both SDSN and the Earth Institute, launches SDSN's local chapter alongside NEDA Director General Arsenio Balisacan. Photos by Chris Schnabel / RapplerJeffrey Sachs: Philippines has much to teach worldThe country should be a world leader in sustainable development, says...

Wednesday, July 22, 2015

Globe in ₱1.83-B buyout deal for Bayantel stake

Globe takes over Bayantel. image: Business World OnlineGLOBE Telecom, Inc. has reached a buy-out deal worth ₱1.83 billion with the Lopez group that will give the Ayala-led company full control of cash-strapped Bayan Telecommunications, Inc.The move is seen to help Bayantel completely get out of the doldrums by...

Monday, July 20, 2015

Philippines Budget Surplus expanded to ₱67.3 Billion Php in May 2015

PHL budget surplus widens nearly 6 times in MayMore Amid the pressing need to boost public spending to pump-prime the economy, government revenues continued to outpace expenditures for the second month this year. The budget surplus expanded by almost six times to ₱67.3 billion Php in May from...

Sunday, July 12, 2015

Japan agency upgrades PH's credit rating to BBB+

Japan credit rating agency raises Philippine ratingTHE Philippines has received another credit rating upgrade, which is the highest rating the country has ever achieved.In a report released Monday, Japan Credit Rating Agency Ltd. (JCR) gave the Philippines BBB+ from BBB rating. This was just a notch away from...

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