Sangley Airport Development Poised for P500 Billion Economic Impact: DTI

The Department of Trade and Industry (DTI) said the planned development of Sangley Point International Airport (SPIA) in Cavite is expected to generate over P150 billion in direct investment, with the indirect economic impact pegged at P500 billion. In a statement on Monday, it said Indian infrastructure company GMR Group has renewed its interest in building and operating the SPIA. The SPIA project, to be executed in partnership with Cavitex Holdings, Inc., is expected to generate up to $500 million in government revenue and create up to 15,000 jobs. Since entering the Philippine market in 2014, GMR has invested P36 billion to develop airport infrastructure in Cebu and Clark. The company is also looking to upgrade regional airport clusters in Bacolod, Tacloban, Busuanga and Laoag, to support local trade, tourism and regional development. GMR is also an active participant in Clark Airport projects, including bids for logistics facilities that will support global cargo operators. In a separate statement, the DTI said the government is tapping India’s NPCI International Payments Ltd. (NIPL) to modernize the country’s digital payments infrastructure. The partnership is also expected to help accelerate sovereign Government-to-Person (G2P) benefit payments and establish cross-border digital payment connectivity. The Philippines is looking to upgrade its digital payments ecosystem by leveraging India’s Unified Payments Interface (UPI) technology stack. In its meeting with NIPL officials in New Delhi, the Philippine delegation discussed the possibility of deploying UPI capabilities to enhance sovereign G2P transfers through the Land Bank of the Philippines (LANDBANK). “We agreed to bring India’s UPI technology to the Philippines. This will allow LANDBANK to distribute government financial aid much faster and make daily digital transactions easier and cheaper for ordinary Filipinos,” Trade Secretary Maria Cristina A. Roque was quoted as saying. Bringing UPI technology to the Philippines will also help streamline cross-border payments for micro, small and medium enterprises, the DTI said. The meeting also covered modernizing the national clearing network via the newly merged Payments Network of the Philippines, Inc. (PNPI/ BancNet) and linking India’s UPI with the Philippine QR Ph network. The DTI said NIPL’s strategic entry and operational integration will be coursed through the green lane system, governed by under Executive Order No. 18, expedites permit processing for strategic infrastructure projects. — Beatriz Marie D. Cruz