Infrastructure, aerospace sectors in Philippines offer investment potential for tech firms

MANILA, Philippines — The Department of Trade and Industry (DTI) is encouraging technology firm ST Engineering to explore opportunities in the areas of infrastructure and aerospace in the country.

In a statement, the DTI said Trade Secretary Alfredo Pascual met with ST Group’s president and CEO Vincent Chong on the sidelines of the Indo-Pacific Economic Framework for Prosperity Clean Economy Investor Forum 2024, to discuss potential investments and collaboration in public-private partnerships, aerospace and maintenance, repair and overhaul (MRO) and smart city initiatives.

“We are actively seeking strategic partnerships to enhance our technological capabilities and infrastructure projects. ST Engineering’s extensive experience makes them an ideal partner for the Philippines’ strategic infrastructure agenda,” Pascual said.

He said the aerospace sector also offers opportunities for ST Engineering.

“The Philippines, with its growing aviation sector, offers a prime market for ST Engineering’s advanced MRO services,” he said.

The DTI believes ST Engineering can help enhance the country’s aviation capabilities through shared technology and expertise.

During the meeting, the Philippine delegation also presented the opportunities for ST Engineering’s smart city technologies and offerings to help improve urban living conditions and sustainability in the country.

“Through these projects, we aim to integrate sustainable practices with advanced technologies, creating smarter and more sustainable cities prepared for the future,” Pascual said.

He said the potential partnership with ST Engineering would help drive innovation and economic growth in both countries.

Headquartered in Singapore, ST Engineering is a global technology, defense and engineering group. It has a diverse portfolio of businesses across the aerospace, smart city, defense and public security segments.