China and the Philippines are expected to sign billions of dollars worth of Belt and Road deals on Tuesday, as the United States and the Philippines move forward on key issues including free trade talks, reports the Nikkei Asian Review.
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President Rodrigo Duterte's large-scale infrastructure program has been driving imports and widening the Philippines' current account deficit causing the central bank to raise interest rates for a second consecutive month. The interest-rate increase is expected to support the peso, which has been trading at its lowest levels against the dollar in 12 years.
Philippine president Rodrigo Duterte is pushing for a second package of tax reforms under his Comprehensive Tax Reform Program in order to help fund the country’s $160 billion infrastructure drive.
Japan is the leading infrastructure investor in the Philippines despite significant commitments from China. According to the Nikkei Asian Review, Japan outspent China on infrastructure by a factor of nearly 20:1 during Duterte’s first year in office while Chinese investment has largely gone to industries such as tourism, real estate, casinos, and mineral resources.
Philippine President Rodrigo Duterte's administration raised excise taxes on coal, petroleum, cars, sugar-sweetened beverages, cosmetic surgery and other items, to fund his infrastructure projects. This is expected to raise $1.8 billion in its first year of implementation.
Trucks and bulldozers are clearing the way this week for a 38-kilometer stretch of train tracks that is one of the Philippines largest infrastructure projects under Duterte’s “Build, Build, Build” infrastructure program.
Aboitiz Group of the Philippines is looking at Chinese partners to help it expand at home and overseas.
Chinese premier proposes economic cooperation with former maritime rival Philippines.
Shinzo Abe has pledged to deliver nearly $9 billion in aid to the Philippines to rebuild battle-damaged areas and improve infrastructure throughout the country.
Wary of China, Japan seeks to strengthen ties with Philippines.
Materials makers are stepping up to meet government's infrastructure ambitions.
Officials in the Philippines are hailing the country's record $2.75 billion trade deficit in May as a sign that President Rodrigo Duterte's ambitious infrastructure development plan is successfully fueling the economy.
The Philippines' President Rodrigo Duterte plans to nearly double government infrastructure spending from 2015 to 2022 in what he is calling the "golden age" of infrastructure.
Philippine President Rodrigo Duterte's Comprehensive Tax Reform Program is predicted to create $2.68 billion in revenue gains to help fund his ambitious infrastructure plans, however, the bill could face some pushback as it reaches the Senate.