Construction

The Duterte administration’s Comprehensive Tax Reform Program (CTRP) while considered as a tool for overhauling the country’s “outdated” tax system, is also crucial as funding component of the Duterte administration’s bold “Build, Build, Build” program, which will usher in the “Golden Age of Infrastructure,” Budget Secretary Benjamin Diokno said. 

The development of Mindanao’s economy and infrastructure could prove to be the government’s most effective weapons against terrorism and extremism, as bringing jobs and economic opportunities to Mindanao can aid efforts to thwart attempts to radicalize youth in the region. 

The Export-Import Bank of Korea (KEXIM) is willing to allocate for the Philippines USD1 billion in concessional loans over a six-year period that may form part of the KEXIM pipeline in the current medium term (2017-2022). 

The Japan International Cooperation Agency (Jica) has signed a credit agreement with Maynilad Water Services Inc. for a non-revenue water improvement program in the National Capital Region (NCR). 

The government should first address the bottlenecks in the implementation of infrastructure projects thru Public-Private Partnership (PPP) to fully take advantage of the benefits of tapping the private sector’s efficiency and innovativeness. 

Property consultancy firm Santos Knight Frank, formerly CBRE Philippines, sees a growing demand for co-working spaces in the country. 

Whether a project should be pursued through government funding, ODA, PPP, or hybrid is a matter of finding the solution that best meets the government’s objective given a set of constraints, and the risks presented by each option. 

Apartment and other real property rentals of P10,000 and below will remain VAT-free while those leasing out condos and other housing units whose gross sales of receipts fall under P3 million VAT threshold will also be exempt from this tax under the first package of the Comprehensive Tax Reform Program (CTRP), according to the Department of Finance (DOF). 

The Construction Manpower Development Foundation (CMDF) in partnership with the Ministry of Land Infrastructure, Transport and Tourism (MLIT) of the Government of Japan, and the Foundation for International Transfer of Skills in Construction (FITS, Japan) conducted a seminar ‘Measures to develop construction skills of Foreign Human Resources in Japan’ held recently at the Dusit Thani Manila. 

Department of Public Works and Highways (DPWH) in partnership with Japan International Cooperating Agency (JICA) inspected Thursday the Magapit Suspension Bridge in Lal-lo, Cagayan using drone cameras.