The National Development Company (NDC) announced that it has secured around P8.15 billion worth of investments and projects this year in the areas of communication, technology, pharmaceutical, and renewable energy.
The government's investment arm under the Department of Trade and Industry (DTI) also reported that it has generated 58,402 jobs, with 27 new jobs for 2023 as of September.
In a statement, NDC General Manager and Undersecretary Antonio D.C. Mauricio said they are "transforming NDC into a niche investment platform that specializes in filling 'gaps' that the Philippines urgently needs to be filled."
"We established the new NDC Criteria for investing: the projects must be Pioneering, Developmental, Sustainable, Inclusive, and Innovative," he added.
According to the firm's financial report, the NDC currently has 18 projects for approval and/or evaluation. The total amount needed by the NDC for the projects is around P30.7 billion.
Mauricio mentioned NDC's key investment projects that began this year, including the Philippine Innovation Hub (iHub) in Salcedo Village, Makati City; the vaccine manufacturing plant in Taysan, Batangas; investments in the Kacific Broadband Satellite Group, Davao Thermo Biotech Corp., and Cyclion energy company.
The NDC attributes its investment in iHub as its contribution to the national digital transformation initiative, as it currently houses the Startup Venture Fund (SVF), Philippine E-Commerce Platform, and the soon-to-rise PH AI Research Center.
To note, SVF has invested in a deeptech electricity utilization startup, SolX, endorsed by the Energy Regulatory Commission (ERC).
Through iHub, NDC seeks to obtain an ISO-certification for Innovation Management.
To help augment vaccine supplies and prepare for future pandemics, the firm is also investing in the construction of the country's first vaccine manufacturing facility and laboratory, in partnership with LG Lifesciences of Korea and Eubiologics. The investment is valued at P150 million.
NDC has also invested in Singapore-based Kacific group, who has already invested over $35 million in the Philippines for connectivity services. NDC will be able to pre-purchase cheaper frequency blocks from the tech company over the next six years. The purchase of broadband capacity is valued at around P1.1 billion.
The company has also invested in the Davao Thermo Biotech Corp to expand the composting plant, and create a franchise model for replication to other areas in the country. The replication project amounts to P130 million.
Lastly, NDC investments in Australia-based Cyclion involve utilizing and adapting its current biowaste to green fuel technologies.
"These projects are navigated by NDC in coordination with the different agencies of the government and the private sector. NDC's unique charter allows it to act as a vehicle for investment in multiple sectors, with the advantage of entering into agency-to-agency agreements," said the NDC.
In addition, the firm shared its projected retained earnings for the whole year, amounting to P17.58 billion, which is a significant rise from the P15.88 billion earnings audited in 2022.
According to the firm's financial report, it's projected total comprehensive income is P2.02 billion for 2023 compared to P4.12 billion last year.
A marginal increase is also expected in its total assets for 2023 amounting to P33.19 billion from P31.56 billion in 2022. The same can be seen in its equity, recording P26.21 billion for 2023 from P24.58 billion last year.
Its total assets remain the same year-on-year at P6.98 billion.
The projected Return on Equity (ROE) for 2023 is 10.35 percent, with P2.58 billion worth of cash and investment balances recorded as of Sept. 30 this year.
For 2024, NDC said it will "continue to identify gaps where it can make its modest contributions to national development."