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Philippines: Department of Energy opens bids for oil exploration

MANILA, Philippines — The Department of Energy (DOE) is now accepting proposals for petroleum exploration and development contracts to  fully harness the country’s indigenous resources. DOE Secretary Alfonso Cusi has signed a a circular governing the selection process in the awarding of petroleum service contracts (PSCs) and the creation of the review and evaluation committee […]

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Philippines: GDP seen to grow faster this 2018

MANILA, Philippines — The Philippine economy is expected to grow faster in 2018 due to the implementation of the tax reform law, which will pave the way for the rollout of infrastructure projects and translate to higher consumer spending, according to the Department of Finance (DOF). In a statement, Finance Secretary Carlos Dominguez said the […]

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Foreign businessmen upbeat on Philippines, see FDI soaring to all-time high

MANILA, Philippines — Foreign business leaders are bullish on their outlook for the Philippine economy this year as they expect foreign direct investment (FDI) levels soaring to new highs. Economic expansion is likely to continue this year, thereby sustaining investor confidence and keeping the country an attractive investment destination, according to foreign business leaders polled […]

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Philippine economy grows 6.7% in 2017

MANILA, Philippines (Updated 3:07 p.m.) — The Philippine economy expanded within the government’s target in 2017, keeping the country’s position as one of the fastest growing economies in Asia despite a slowdown in the last three months of the year, the country’s statistics agency reported Tuesday.   The country’s gross domestic product — or the value of […]

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