The Philippines and the US are accelerating economic and trade cooperation, with initiatives that could generate up to one million jobs for Filipinos, the Presidential Communications Office (PCO) said.
The Philippines and the United Arab Emirates are ramping up economic and technology ties under their newly signed Comprehensive Economic Partnership Agreement (CEPA), with artificial intelligence, critical infrastructure, and cross-border investments emerging as key pillars of cooperation.
US Under Secretary of State for Economic Affairs Jacob Helberg will visit the Philippines next week as Washington ramps up efforts to deepen economic security and technology ties with Manila under the newly launched Pax Silica initiative.
The Philippines and the US are targeting a groundbreaking within the year for a planned 4,000-acre Economic Security Zone in the industrial district of New Clark City, according to Joshua Bingcang of the Bases Conversion and Development Authority.
The Philippines is seeking to join the US-led Pax Silica Initiative while exploring a critical minerals partnership with Canada, as Manila steps up efforts to position itself in emerging supply chains tied to artificial intelligence, semiconductors and advanced manufacturing.
The Philippine Economic Zone Authority (PEZA) and Oman's Public Authority for Special Economic Zones and Free Zones (OPAZ) have identified four priority industries for deeper investment cooperation, as both countries seek to strengthen trade and position their economic zones as complementary gateways to regional markets.
The Department of Agriculture announced Tuesday that 56 boxes of Davao durian, weighing 1.08 metric tons and worth around P183,000 ($3,000), have been sent to Oman. The shipment from Engseng Food Products of Davao City is bound for Jeel Almaaly International in Al Dakhiliyah Governorate.
Petron Corp. reported a 28 percent fall in first-half net income to P3.8 billion from P5.3 billion a year earlier, the company said Tuesday. The decline was mainly due to Middle East tensions pushing crude, import and freight costs higher. Dubai crude averaged $91 a barrel, up 27 percent year-on-year.
Singapore-based Universal Success Enterprises Limited (USEL) is exploring investments in logistics parks and data centers in the Philippines, underscoring growing foreign interest in sectors benefiting from the country's expanding digital economy and infrastructure buildout.