Ayala Land, Inc wins US$84.7 million transport terminal project

Ayala Land, Inc., one of the leading Philippine land developers has won the US$84.7 million Integrated Transport System South Terminal project after submitting the bid with the lowest annual grantor payment of US$5.6 million. 

“This is the second integrated transport system project that we have awarded. Our goal here is to give passengers coming from the South seamless transfers to other modes of transportation, as well as help decongest traffic in the Metro.” said Transportation Secretary Jun Abaya.

 Ayala Land is required to submit post-award requirements to the Pre-qualification, Bids and Awards Committee (PBAC) no later than 20 days from the receipt of the notice of award. 

Ayala Land, Inc. is responsible for the design and construction of the new terminal which will be situated in a 5.57 hectare land along FTI Compound in Taguig that would connect passengers travelling from neighboring provinces such as Laguna and Batangas to other modes of transport including buses, taxis and jeepneys.

Construction is set to commence in August 2016 and would be completed in January 2018. Operations of the terminal will be in full swing by February 2018. Ayala Land will operate and maintain the terminal for a period of 35 years.


President Aquino calls for greater collaboration in Asia Pacific

Philippine President Benigno S. Aquino III has called for greater collaboration between the Asia-Pacific region’s governments and businesses to ensure stability needed to foster economic opportunities for more people in the changing global environment.

“Confronted by an increasingly complex, interconnected, and unpredictable world, we are all challenged to look at trends that may cause disruption, so that we can act with resilience and craft a response with inclusivity at its core, ensuring no one is left behind,” said President Aquino.

“Regardless of the sector you belong to, the work of innovation begins with the correct appreciation of the problem, which leads to the correct crafting of the solution,” he continued. “Policymakers must provide the environment that nurtures this.”

Areas of focus included next steps towards a Free Trade Area of the Asia Pacific (FTAAP), a concept introduced by APEC Business Advisory Council to APEC members in 2004 by the private sector. The pursuit of region-wide growth through services market opening and development; infrastructure finance expansion; support for micro, small and medium enterprise growth; and the promotion of sustainable development and the rule of law were additional points of attention.

“Global megatrends are changing the landscape and are creating new challenges on economies, business and society as a whole,” explained Doris Magsaysay-Ho, 2015 Chair of the APEC Business Advisory Council (ABAC), pointing to demographic and social change, rapid urbanization, global economic power shifts, climate change and resource scarcity, and the impact of new technology. “Consumer demands are rapidly changing, compelling everyone to review business models and delivery systems.”

“We applaud the recent conclusion of the Trans Pacific Partnership, call for the completion of the Regional Comprehensive Economic Partnership and are encouraged by the progress of the Pacific Alliance as important pathways to the Free Trade Area of the Asia-Pacific,” Magsaysay-Ho, noted, adding that ABAC is now working to identify next generation business and investment issues so that the FTAAP becomes responsive to the needs of business big and small alike.”

ABAC representatives suggested APEC members increase their focus on the services sector as the single biggest contributor to employment and output in the region. They underscored that most barriers to services trade are structural in nature and require ambitious policy and regulatory reform while noting ABAC’s contribution to a new services cooperation framework on the table among APEC members.

“Global megatrends offer new growth opportunities especially for small and medium enterprises,” said Magsaysay-Ho, advocating for inclusive business models and a policy environment to support the internationalization of firms in the sector through e-commerce. “Unlocking the remarkable potential of entrepreneurs needs a robust innovation ecosystem.”

“We are offering to serve not just as a resource for knowledge-sharing but as partners in developing policies and action that will usher in an age of shared prosperity for APEC and the region’s people, she concluded.”

Japan confers Order of the Rising Sun to former trade chief

The Japanese government has conferred the Order of the Rising Sun, Gold and Silver to former Philippine Trade Secretary Peter B. Favila in recognition of his valuable contribution to strengthening and deepening  Japan-Philippines bilateral relations.

Favila was former Bangko Sentral ng Pilipinas (BSP) Monetary Board member and former Co-Chair of the Japan-Philippines Economic Partnership Agreement (JPEPA) Sub-Committee on the Improvement of Business Environment.

Mr. Favila has earned three decades of expertise in the banking and finance industry. He led three local commercial banks and later chaired the Philippine Stock Exchange (PSE), after which, he was appointed as the Secretary of the Department of Trade and Industry (DTI) in 2005. During his five-year term, Mr. Favila made his significant contribution to the conclusion of Japan-Philippines Economic Partnership Agreement (JPEPA) negotiations and its subsequent ratification.

As JPEPA is the first comprehensive bilateral trade agreement entered into by the Philippines, the negotiation process involved long periods of reviews, consultations and coordination efforts from both countries. With Mr. Favila’s strong leadership as a Trade Secretary, JPEPA was finally ratified by the Philippine Senate in 2008.

Mr. Favila also co-chaired the JPEPA Sub-Committee on the Improvement of Business Environment. Under the JPEPA framework, the Government of Japan and the Government of the Philippines continuously foster its strategic relationship by bringing together both the public and private sectors to address the overall business climate of the Philippines, creating a friendlier and enabling environment for Japanese investors.

President Aquino commits to APEC priorities

Philippine President Benigno S. Aquino III has committed to the Asia-Pacific Economic Conference (APEC) priorities as he stressed inclusive growth as the most critical element in economic development.

Speaking to the region’s business leaders in Manila on Monday, President Aquino shared the growth story of the Philippines and how it can be applied to regional growth.

“We will have important conversations about how we can free our people from the oppression of poverty, and how to empower them to take part in sustainable economic growth,” said President Aquino.

The President described how the Philippines’ growth strategy hinges on empowerment for people to participate in the growing economy.

“We invested in upgrading our educational infrastructure,” explained President Aquino. “We reformed our basic education cycle to conform to global standards, and to give our children ample time to digest their lessons and maximize their learning.”

“Indeed, our entire growth strategy hinges on the idea of empowerment,” he continued. “Empowered citizens, after all, are empowered consumers, whose income will go to the goods and services produced by companies,”

“The end result: Instead of having many big fish in a small pond, we are moving our economic ecosystem into a bigger pond, where everybody can grow and reach their full potential.”

President Aquino reported the initial results of an assessment of social welfare and development in the Philippines, revealing some 5.45 million Filipinos who have been lifted from poverty.

“Our economy has become one of the fastest growing in the world and we have quickly risen in global measures of competitiveness,” he said.