Five investor groups submitted a letter of intent and paid a non-refundable participation fee of P120,000 to the Power Sector Assets and Liabilities Management (PSALM) Corp. for the Naga Power Plant Complex (NPPC) bid.

Goldman Sachs reported that infrastructure demand from this year until the end of the decade could hit $110 billion as the Philippines continues to grow through increases in per capita income and urbanization.

The Philippines needs to increase infrastructure spending to better prepare for the Association of Southeast Asian Nations (ASEAN) integration, said former Department of Budget and Management (DBM) Benjamin Diokno.

Manila Water Co. will spend P7 billion for projects this year, disclosed head of corporate communications Jeric Sevilla.

The Department of Public Works and Highways (DPWH) has completed P160 million worth of infrastructure projects in Bataan, including asphalt overlay works along Roman Expressway.
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Business confidence in the Philippines for the second quarter hit +54.9 percent, the highest since the Bangko Sentral ng Pilipinas (BSP) began conducting the Business Expectation Survey (BES) seven years ago.
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The Department of Energy (DOE) issued the certificate of commerciality to Trans-Asia Oil and Energy Development Corp. for a 54-megawatt wind farm project in San Lorenzo, Guimaras.
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An official from the International Monetary Fund (IMF) said the series of credit rating upgrades can attract investments to the Philippines but foreign ownership restrictions have to be eased for the country to maximize the opportunity.

The government is allocating P12 billion this year and P17 billion next year for the construction of roads that will link tourist destinations to major roadways.

The Department of Transportation and Communications (DOTC) sees no more legal stumbling block to the implementation of the Skyway connector toll road project spearheaded by the San Miguel-Citra alliance.