The Philippines has sought for collaboration in infrastructure and aerospace, particularly in the area of maintenance, repair, and overhaul (MRO), under the Public-Private Partnership (PPP) scheme.
Trade and Industry Secretary Alfredo E. Pascual made a strong pitch before discussion held at ST Engineering headquarters on the sidelines of the recent Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum 2024 in Singapore.
Pascual met with Vincent Chong, ST Engineering’s Group President and Chief Executive Officer, to discuss potential investments and collaboration in PPPs, aerospace and maintenance, repair, and overhaul (MRO), and smart city initiatives.
Held at ST Engineering's headquarters, the discussion centered on the importance of PPPs in driving innovation and infrastructure development in the Philippines.
"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.
The aerospace sector, particularly MRO, also emerged as a potential area for collaboration.
"The Philippines, with its growing aviation sector, offers a prime market for ST Engineering's advanced MRO services," the DTI chief added. He also mentioned that this collaboration aims to enhance the aviation capabilities of the Philippines, benefiting both countries through shared technology and expertise.
The Philippine delegation also presented the potential for ST Engineering to extend its smart city technologies and offerings to 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 emphasized.
The meeting concluded with a tour of ST Engineering's Innosuite, showcasing their cutting-edge innovations in smart mobility, cybersecurity, and urban solutions.
Highlighting the potential collaboration with ST Engineering, the DTI chief stressed, “This partnership could bring significant benefits to both the Philippines and ST Engineering, driving innovation and economic growth in both countries.”
ST Engineering is a global technology, defense, and engineering group with a diverse portfolio of businesses across the aerospace, smart city, defense, and public security segments.
