Billion Dollars Chinese investment in PH

Philippines gets $12.2B in new investments, trade commitments from China

Doris Dumlao-Abadilla

Philippine Daily Inquirer

28 April 2019

BEIJING—The Philippines bagged $12.16 billion worth of new investment and trade deals with Chinese partners—including big-ticket and labor-intensive energy, petrochemical, industrial park and infrastructure projects—on the sidelines of President Duterte’s visit to China.

FRESH AGREEMENT President Duterte (second from left) meets with Chinese Premier Li Keqiang (second from right) at the Diaoyutai State Guesthouse in Beijing on Friday. —AFP

Duterte witnessed on Friday the signing of 19 business agreements, which are expected to create more than 21,165 new jobs in the Philippines, Trade Secretary Ramon Lopez said.

The President guaranteed to the Chinese businessmen that he would crack down on corruption and ease doing business in the Philippines.

Biggest winner

Among the biggest winners during this trip is Filipino conglomerate Tranzen Group of mining mogul Salvador Zamora II. Tranzen signed a framework agreement with China Power Investment Holding for thermal, hydroelectric and renewable power plants cumulatively valued at around $1.5 billion to $2 billion. These are expected to create 1,000 jobs.

Tranzen likewise signed two memorandums of understanding (MOU) for infrastructure and telecommunications projects. One was with China Harbour Engineering Co. Ltd. for the construction of a Light Railway Transit in Manila, housing and roads in North Luzon.

These projects have a combined value of $4 billion and are expected to generate 1,000 jobs.

The Davao Occidental provincial government and Fengyuan Holdings also signed an MOU for a $1.5-billion petrochemical refinery processing plant complex to be located at the Tubalan Cove Business and Industrial Park. This could employ some 500 workers.

Pampanga project

The Pampanga provincial government and Chinese company Macrolink Group likewise inked a $1.5-billion framework agreement to construct and develop the Yatai Industrial Park, which would create an estimated 10,000 jobs.

In all, the Philippines signed one contract agreement, three cooperation agreements, two purchase framework agreements and 13 MOUs and memorandums of agreements with Chinese companies.

Outside of the new deals, electronics manufacturer AAC Technologies disclosed plans to expand its operations in the Philippines during a courtesy call on Lopez by its officials.

AAC had set up shop at Gateway Business Park in General Trias, Cavite, taking over a Korean company in 2014. It committed to invest $30 million to manufacture stepper motors and motor reducers, creating about 3,000 jobs in the next three years.

A contract agreement was signed for the proposed 250-megawatt South Pulangi Hydroelectric Power Plant Project in Damulog, Bukidnon.

To be developed by Pulangi Hydro Power Corp. and China Energy Co Ltd., this $800-million project aims to improve power supply reliability and resilience, particularly in Mindanao. About 5,000 jobs would be created by the project.

Wi-Fi connectivity

As part of a long-term plan to reduce dependence on imported fuels, the Department of Energy, Shanghai Electric Group Co. Ltd. and Deluxe Family Co. Ltd signed a $40-million MOU to collaborate on the promotion of indigenous, new and renewable energy resources.

Another telecommunication deal involved CITIC Guoan Information Technology, which signed a $500-million project to construct infrastructure for nationwide Wi-Fi internet connectivity in various capital cities and towns in the Philippines. This project is expected to create 1,000 jobs.

Two Philippine companies signed purchase framework agreements to supply agricultural products to Chinese companies. Philpack Corp. bagged a deal to supply $40 million worth of pineapples to Chinese company Goodfarmer Foods Holding Group, while Eng Seng Food Products was tapped to supply $36.5 million worth of green coconuts to China Artex Corp. The latter is expected to create 1,500 jobs.

Infrastructure funding

The Cagayan Economic Zone Authority (Ceza) signed six MOUs with Chinese companies to develop its economic zone. The projects include a $150-million yacht club, a $500-million green textile industry park, a $500-million expansion of the Cagayan North International Airport, a $100-million financial technology hub and financial center, a $500-million smart city, and $150 million for various projects, including a resort and theme park, and a lithium battery manufacturing plant.

A framework agreement was signed between GFTG Property Holdings and Sanya CEDF Sino-Philippine Investment Corp. for a $298-million project to develop Grande and Chiquita Islands under the Subic Bay Metropolitan Authority. The project is set to create 500 to 1,000 jobs.

Adnama Mining Resource Inc., Fu Properties Inc, and Xiamen C&D Inc. also signed an MOU to construct a $50-million iron processing plant in Agusan del Norte.

Since rekindling diplomatic ties with China in 2016 after Duterte took office, the Philippines has attracted big-ticket infrastructure funding from China.

Based on various published reports prior to the President’s latest trip to China, the Chinese government and private companies have made more than $34.24 billion in investments, loans, aid and trade commitments to the Philippines from 2016 to 2018.

Among the most prominent China-funded projects are the Kaliwa Dam project (P12.2 billion or $234 million), Chico River Pump Irrigation Project (P4.37 billion), Mindanao Railway project (P128.1 billion), Binondo-Intramuros bridge (P4.61 billion) and Estrella-Pantaleon bridge (P1.37 billion or $26.3 million).

Redefine cooperation

In a speech at the Forum on Friday,  Duterte urged fellow world leaders to redefine international cooperation to ensure that development assistance would not promote dependence but instead trigger sustainable growth anchored on mutual respect and mutual interests.

“Development assistance should build on capacities of nations. It should never foster dependence,” he said.

“It should be based on reciprocal benefits, motivated by keen interest in partner states to bring about real progress. This should be the new normal. And it is in our interest to work together to make this a reality,” he added. —WITH A REPORT FROM INQUIRER RESEARCH

Philippines set for dynamic growth

GDP seen doubling by 2026 as Philippines ‘set for dynamic growth’ 

Czeriza Valencia

The Philippine Star

April 27, 2019

MANILA, Philippines — The Philippine economy is still expected to experience sustained and rapid growth in the long term, with gross domestic product (GDP) seen doubling between now and 2026, enabling the country to attain upper middle income status by 2022.

In an economic research report released yesterday, market intelligence firm IHS Markit said the continuous growth of above six percent in the past seven years is likely to continue over the short term, although at a slightly slower pace of around six percent annually over 2019 and 2020. Michael Varcas

In an economic research report released yesterday, market intelligence firm IHS Markit said the continuous growth of above six percent in the past seven years is likely to continue over the short term, although at a slightly slower pace of around six percent annually over 2019 and 2020.

 “Strong GDP growth is projected to continue over the medium term, with the total size of the Philippines economy expected to double between 2018 and 2026,” said Rajiv Biswas, IHS Markit chief economist for Asia Pacific.

The long-term outlook, he said, is “ very positive” with GDP seen doubling from $330 billion in 2018 to $672 billion by 2026.

 “The Philippines is forecast to become one of Asia’s trillion-dollar economies by 2032, with per capita GDP reaching around $8,200. Over the next decade, sustained rapid economic development will result in a significant reduction in poverty levels and accelerate progress towards meeting the UN Sustainable Development Goals,” the report said.

The domestic economy is now powered by several growth engines such as the sustained strength of remittance inflows from Filipino workers abroad which is helping boost consumption spending.
Rapid growth of service exports, notably from the IT-BPO sector, is now contributing to export earnings and employment growth.

Despite external headwinds, the electronics industry remains the largest merchandise export sector.

The government’s ambitious infrastructure development program is also supporting the economic growth momentum.

With per capita growth having shown rapid growth since 2010, the number of middle class households have expanded, driving consumption spending.

IHS Markit said by 2022, per capita GDP in the country is expected to exceed $4,000, pushing it into the ranks of upper middle-income developing countries, according to World Bank standards.

When this happens, this will give the economy an enormous spending power that will support major industries in the country.

 “The Philippines is also one of the most populous countries in Southeast Asia, and as per capita GDP levels rise above the upper middle-income threshold, this will create an increasingly substantial consumer market that will support the growth of the nation’s manufacturing, services and construction industries,” the report said.

At this point, IHS Markit urged the country to immediately address hindrances to growth such as weak infrastructure and its uncompetitive business climate.

 “Significant challenges remain to the nation’s economic development, including weak infrastructure and a relatively uncompetitive business climate compared to other East Asian peers,” the report said.

“A key priority will be to make the Philippines more competitive as an investment hub for multinationals, in order to boost exports of goods and services and narrow the trade deficit,” it added.

On the socioeconomic level, high levels of poverty in the country particularly in the rural regions is making a large number of the population vulnerable to economic and environmental shocks.

 “Despite the significant progress in achieving higher living standards during the past decade, one of the key economic development challenges facing the Philippines is the high level of poverty, particularly in rural regions,” IHS Markit said.

 “The vulnerability of the population to natural disasters is also high, due to the frequent incidence of destructive typhoons that devastate agricultural crops, as well as the nation’s vulnerability to
earthquakes. Manila is located in an area near two major seismic fault lines,” it added.

Pinoy in Ireland's Got Talent Final

Pinoy's hip-hop group makes it to 'Ireland's Got Talent' grand finals

Roderick Garcia, ABS-CBN News

Apr 05 2019 

DUBLIN, Ireland - A Filipino is part of a hip-hop group that managed to get the highest audience text votes in last Saturday's semi-finals of "Ireland's Got Talent" (IGT).

Albert John "AJ" Macoy, 16, is one of the members of Fly Youth. The group will be performing again at the grand finals on Sunday.

"I'm so happy that we reached this point, where we all became motivated to do better and build a stronger friendship within the group. It makes me feel proud to achieve something that will happen just once in a lifetime," Macoy said.

Macoy's father, Elbert, is a nurse who is originally from Cebu. His mother, Edna May, is from Ilocos Sur and works as a receptionist.

The couple arrived in Ireland in 2001.

"Todo suporta lang talaga ako sa kanya mula pa noon. Napakahirap na isabay ang schedule ng school at extra activity. Pero in the end, not just popularity ang habol ko -- 'yung maging confident lang ang anak ko in front of the public can help him a lot in the future," said his father.

Macoy is the eldest of four siblings who are all born in Dublin. He is now on his 6th year of secondary education, and he hopes to be a computer game designer or a mechanical engineer someday.

Performing at the "IGT" stage is not new to Macoy. His former group, Airborne Dance Crew, managed to impress the judges at the elimination of show's last season but failed to enter the semi-finals.

This time they re-grouped, added more dance members, and performed more technical routines.

Macoy is also currently attending Fly Dance Studio, the one responsible in developing his group’s hip-hop dance skills. It was the same studio that helped them win Ireland’s Hip-hop Championship where they ended up representing the country in a global dance competition.

One of Fly Dance Studios' Irish-Pinoy dance instructors, Arman Jose Galang, is very proud of Macoy's achievement after just 3 years of training in their school.

"I'm so proud of AJ and all of them in the group. They're just kids and what they are already achieving for themselves is just insane," said Galang.

"I'm so happy that we reached this point, where we all became motivated to do better and build a stronger friendship within the group. It makes me feel proud to achieve something that will happen just once in a lifetime."

Meanwhile, three other Pinoys were also featured in "IGT." Singer Live Amerie Gregorio from Cork, singing nurse Rodelle Borja from Dublin, and dancer Nicole Marie dela Cruz Fowler from the group Hiphopical from Monaghan failed to enter the grand finals, but they still have a chance to be a wildcard.

Pinoy flutist winner

Pinoy flutist bags awards in Denmark's Carl Nielsen

Sandra Sotelo Aboy, ABS-CBN News

Apr 09 2019 

A Filipino flutist bagged awards at the prestigious Carl Nielsen International Competition held in Odense, Denmark.

Rafael Adobas, 21, won third place in the flute division and best interpretation of a new piece.

"It has been like a roller-coaster mix of emotions. I had only 2 months of preparation after receiving the invitation from the committee. Every performance was a different scenario and with different repertoire - from baroque music, classical, romantic, and contemporary," he told ABS-CBN News.

"I had to learn to be flexible each day of every round. I had to acquire a general overview on everything, and yet be totally focused on every piece that I was playing. I had to be sure of what I wanted to express through my music on the moment of my performance."

Rafael, who was born in Ibiza, Spain, took his passion for music after his father.

His father Margarito, who hails from Southern Leyte, used to be a guitarist.

Music is life for the Adobas family. Rafael’s eldest sister Isabel plays the piano while his younger sisters Mary Grace and Mary Jane plays the violin and saxophone, respectively.

Rafael is currently studying fourth year of Music Performance-Flute at the University of Music and Performing Arts Munich in Germany. 

Out of the almost 500 applications received by Carl Nielsen contest, only 66 young musicians were invited to perform.

In the first round, Rafael won the the best interpretation prize for his passionate delivery of the commissioned piece written for the competition by Austrian composer Thomas Larcher. He took home €2,000.

Rafael played "Life" in the second round, drawing inspiration from the works of Carl Nielsen. His piece is an expression of life from birth to maturity in the company of family, friends, and church.

In the semifinal round, Rafael, together with Odense Symphony Orchestra, played flute concerto in E minor by Franz Benda.

For the finale, Rafael was accompanied by the Copenhagen Philharmonic Orchestra as he played 2 movements from Mozart concerto and Carl Nielsen flute concerto. He won 3rd place and €8,000 cash.

“I dedicate this victory, firstly to my family. They have always been supportive to me from the very first day I held an instrument. And to the church, the Filipino community and everybody who followed and watched me through livestream in this wonderful journey," he said.

"I am proud to be a Filipino."

Filipino inventions

Everyday Life Inventions That Are Filipino

Inventions by Filipino inventors include the graphics accelerator chip, wearable camera, and the lunar rover.

Marcia Wendorf
Interestingengineering.com
14 April 2019

The next time you watch a video on your PC or play a video game, consider thanking Filipino inventor Diosdado Banatao who invented the graphics accelerator chip for personal computers.

Banatao was born to a poor rice farmer in 1946, and walked barefoot on a dirt road to elementary school. Following high school, Banatao graduated from the Mapúa Institute of Technology with a degree in electrical engineering. He then went to work for Philippine Airlines as a pilot, but was soon working in the U.S. at the Boeing Corporation.

Banatao attended prestigious Stanford University, where he graduated in 1972 with a Master of Science degree in Electrical Engineering and Computer Science. Working at Commodore International, Banatao designed the first single chip, 16-bit microprocessor-based calculator, which endeared him to high school students everywhere.

Banatao was then credited with creating the first system logic chip set for IBM's PC-XT and the PC-AT, the local bus concept, and the first Windows graphics accelerator chip for personal computers. This latter discovery allowed computers to work much faster, and allowed users to interact with computers graphically rather than just through the command line.

Banatao went on to receive a Ph.D. from Stanford University in mixed-signal CMOS IC design, and he has received numerous awards, co-authored 13 papers, and holds six U.S. patents.

The Lipstick Camera

Just before the turn of the 21st Century, Filipino Marc Loinaz invented the one chip video camera. Working with a team at Lucent Technologies in the U.S., they were tasked with creating a camera that was so cheap and used so little electrical power, that it could be integrated into things, such as watches and appliances.

Earlier video cameras generated images by using charge-coupled devices (CCDs), but CCDs could not occupy the same silicon chip as image sensors. Loinax and his team got the analog circuits to occupy the same chip as the digital signal processing circuits by teaching them to ignore one another.

Loinax described the process as: "We scheduled operations on the chip so that during all the sensitive analog operations, we shut down the digital circuits." Today, these so-called "lipstick cameras" show up on daredevil's bodies, Formula 1 racing cars, and the table rail of poker tables during tournaments, where they "spy" on players' cards.

A Passion for Children

In 1933, Filipino woman Fe Del Mundo completed her medical education at the University of the Phillippines. Then Philippine president Manuel Quezon, provided her a scholarship to continue her medial education anywhere she wanted, and she chose to study pediatrics at Harvard University in Boston, Massachusetts.

In 1941, Del Mundo returned to the Philippines just before that country was invaded by Japan. Del Mundo worked with internees during that tumultuous time, and following the war, she went on to establish her own pediatric hospital.

Completed in 1957, the Children's Medical Center in Quezon City was the first pediatric hospital in the Philippines. The use of the incubator for premature babies was pioneered at the hospital.

Joy Riding on the Moon

In 1971, the Apollo 12 mission to the moon used the first "Moon Buggy" to explore the moon's surface. Created by a team at NASA that included Filipino mechanical engineer Eduardo San Juan, the Lunar Rover was also used during last three Apollo lunar missions, 15, 16 and 17, which took place during 1971 and 1972.

Weighing 460 pounds, the rover was designed to hold a payload of 1,080 pounds. It was 10 feet long, with a wheelbase of 7.5 feet, and was 3.6 feet tall. The rover had a three-part chassis that was hinged in the middle so that it could be folded up and hung in the Lunar Module Quadrant 1 bay. Today, three abandoned lunar rovers remain on the moon.

Weighing 460 pounds, the rover was designed to hold a payload of 1,080 pounds. It was 10 feet long, with a wheelbase of 7.5 feet, and was 3.6 feet tall. The rover had a three-part chassis that was hinged in the middle so that it could be folded up and hung in the Lunar Module Quadrant 1 bay. Today, three abandoned lunar rovers remain on the moon.

Weighing 460 pounds, the rover was designed to hold a payload of 1,080 pounds. It was 10 feet long, with a wheelbase of 7.5 feet, and was 3.6 feet tall. The rover had a three-part chassis that was hinged in the middle so that it could be folded up and hung in the Lunar Module Quadrant 1 bay. Today, three abandoned lunar rovers remain on the moon.