Construction

The World Bank has upgraded its economic outlook for the Phil­ippines for 2016-2018 as part of its quarterly forecast exercise, considering recent trends.

The Duterte administration awaits promising development and financing cooperation with the Asian Infrastructure Investment Bank (AIIB) to help fund the country’s big-ticket infrastructure projects, according to National Treasurer Roberto Tan.

Philippine-based architecture firm WTA Architecture and Design Studio was chosen as a finalist at the World Architecture Festival 2016 in Berlin, Germany.

By Weng C. Ocfemia The Department of Environment and Natural Resources (DENR) has rejected the appeal of property developer, Cen­tury Communities Corporation and totally cancelled the En­vironment Compliance Certificate (ECC) for its housing proj­ect at La Mesa Watershed.

The Philippines is a couple of decades behind its neighbors with regard to infrastructure, Finance Secretary Carlos Dominguez III said during a business forum held recently in Makati City.

The Department of Trade and Industry (DTI) and the De­partment of Public Works and Highways (DPWH) have signed a Memorandum of Agreement to create a Con­vergence Program on road connectivity for industry and trade development.

The Construction Industry Authority of the Philippines (CIAP) has urged members of the Philippine Constructors Association (PCA) to exercise prudence and professionalism to preserve the integrity of the construc­tion industry.

President Rodrigo Duterte led the ground-breaking ceremony of the Bicol International Airport (BIA) in Barangay Alobo, Daraga, Albay.

The government is spending a whopping P860.7 billion on large-scale infrastructure projects next year, which represents 5.4 percent of the country’s Gross Domestic Product (GDP), in keeping with its commitment to disperse growth and create enough jobs for Filipinos, especially in the countryside. 

A hefty part of President Duterte’s unparalleled public investments on his watch will be devoted to infrastructure servicing the tourism industry in keeping with his goal of transforming this sector into one major engine of growth to sustain the Philippines’ momentum as one of Asia’s fastest-growing economies.