Tag: Philippines

Philippines – The Asian Development Bank (ADB) has a $100m financing deal to support holding company Ayala Corporation’s initiatives to charge the electric vehicle (EV) ecosystem in the Philippines.

The funding will be allocated to the procurement and installation of EV charging stations in the country. A portion of the funding will also be used to acquire EVs from leading manufacturers for commercial distribution. 

Aiming to bolster the development of a charging station network in the country through the financing deal, Ayala intends to address the limited EV charging infrastructure and other barriers to boost its adoption.

Besides ADB’s financing, the deal includes a concessional loan from the Canadian Climate and Nature Fund for the Private Sector in Asia (CANPA), a trust fund managed by the bank which supports climate solution projects in the private sector.

Ayala’s mobility provider, ACMobility, has been leading initiatives to develop EV charging stations in the Philippines since 2023. It recently acquired the charging network Evro, which operates under Globe’s tech innovation arm 917Ventures.

“This project is a significant step towards a sustainable and low-carbon future for the Philippines. By fostering the development of a robust electric mobility ecosystem, we are not only addressing critical environmental challenges such as air pollution, but also driving economic growth through the creation of green jobs, enhancing energy security, and promoting inclusive and resilient urban development,” Pavit Ramachandran, ADB country director for the Philippines, said.

“This innovative blended financing comes at an opportune time as Ayala, through ACMobility, continues to ramp up its electric mobility investments. As we help build a comprehensive EV ecosystem for the Philippines, we wish to thank like-minded institutional partners like ADB for helping us expand our electric mobility initiatives, accelerate our contribution to the Philippines’ climate goals, and reaffirm our purpose of building businesses that enable people to thrive,” ACMobility’s president and CEO Jaime Alfonso Zobel de Ayala, commented.

Philippines – Nestlé Philippines, the local unit of the food and beverage corporation, is set to invest up to P6b to enhance its operations in the country, spending P2b on average annually from 2025 to 2027.

In a report by Inquirer, Nestlé Philippines chairman and chief executive officer Kais Marzouki shared the company’s aim to expand its capacities and technologies through the investment, seeing its growth potential.

According to Marzouki, Nestlé’s local unit is the sixth largest market globally.

While seeking to address increasing demands, the company also plans to broaden its product lines.

Nestlé’s global chief executive officer Laurent Freixe cited the potential of expanding its pet food offering in the country. 

Nestlé has a broad line of local and global brands, with Nescafé, Milo, and Bear Brand being its top-selling ones in the country.

The food and beverage giant has factories in Bulacan, Laguna, Cagayan de Oro, and Batangas, Philippines.

Manila, Philippines – The International Finance Corporation (IFC), a global development institution and member of the World Bank Group, has announced its investment of up to $130 million to Asialink Finance Corporation. The move aims to boost lending to micro, small and medium-sized enterprises (MSMEs) in the Philippines, advancing financial inclusion.

The investment, directed towards small business financing, is set to prioritise women-owned or led MSMEs with 60% of loan proceeds specifically designated for the sector.

With the funding, Asialink strengthens its strategy towards financial inclusion, serving MSMEs and individuals without access to bank financing.

Additionally, IFC will help Asialink implement a framework for environmental and social management system and finance principles aligned with international standards.

“We hope to demonstrate the viability of lending to this sector and encourage other players to develop solutions that cater to MSMEs,” Jane Yuan Xu, acting country manager for IFC Philippines, said.

“Because ultimately, we are not just funding companies, we are creating jobs at the grassroots level. Every loan to an MSME can mean five, ten or twenty new jobs in local communities. And that’s what drives an economy forward,” Xu added.

“We are very grateful for IFC’s support, which will allow us to expand our lending to more MSMEs, particularly in underserved regions of the country and those that have historically been excluded from the formal financial sector,” Robert B. Jordan Jr., chief executive officer of Asialink Finance Corporation Group of Companies, commented.

“MSMEs are the backbone of the Philippine economy, but in many parts of the country it’s still a huge struggle to access the financing they need to grow and thrive. With this investment, we will help change that,” Jordan added.

Philippines – The new Tesla Center has been launched in the Philippines to serve as Tesla Philippines’ headquarters located in Bonifacio Global City, Taguig.

Philippine President Ferdinand Marcos Jr. led the launch of Tesla Center Philippines, urging Tesla to advance electric vehicle (EV) manufacturing in the country. This is part of his aim to accelerate the adoption of a sustainable transport system in the Philippines, reducing carbon emissions.

The opening of the Tesla Center, according to Marcos, empowers local talents by including them in the shift towards sustainable technologies. 

Recently, Tesla opened a facility in the Philippines that produces iron phosphate batteries used to manufacture EVs.

The Philippine government has implemented policies for sustainable transportation, including the elimination of excise taxes on battery EVs, duty-free importation of charging stations, and lowering fees for EV drivers.

Tesla’s recent entry into the Philippines would also help convince more companies to innovate while investing in the EV sector, Marcos said.

Marcos has been urging investors in the Philippines, having encouraged the investment of Valiram Group and Dyson in the country.

“While it is true that electric vehicles are currently seen as premium products, Tesla’s entry into the Philippine market signals much more than high-tech cars on the road. It is a step – a very significant step forward to our long-term transformation towards a more environment-friendly transportation system,” Marcos said in his speech during the launch.

“With a more conducive and empowering environment now taking shape for the EV industry, I am very optimistic that more companies will seize the opportunity to drive this very vital sector in the coming years,” he said.

Philippines – The Department of Tourism (DOT) has launched its flagship tourism program, the ‘Philippine Experience Program’ (PEP) on Klook Philippines’ platform through a partnership.

The collaboration aims to make travel experiences more accessible in the country, while advancing the digitalisation of Philippine tourism.

Through the partnership, PEP’s curated tour packages across the country are now available in the platform, including the ‘Culture, Heritage & Adventure’ tours in the Calabarzon, Ilocos, and Visayas regions. Tours will also be available in Bicol and Palawan.

Each tour spans a variety of experiences, including historical and cultural immersion, sampling local delicacies, and exploring different landmarks.

Additionally, the partnership seeks to integrate DOT’s ‘Tourist Rest Areas’ on the Klook platform. DOT also plans to endorse Klook as partners of Mactan-Cebu International Airport and Clark International Airport.

“With this partnership with Klook, the Philippine Experience Program will now be carried on the Klook platform. The Philippine Experience Program is a flagship initiative of the Marcos administration, whereby, we are translating the President’s vision of reintroducing the Philippines to the world, not just from a one-dimensional lens of fun and adventure, but also from the highly diversified lens of our Filipino identity that can very well be seen in in our culture, our heritage, our stories, immersions into our communities, our gastronomy, and all the other experiences that you can have in our destinations. Carrying the Philippine Experience Program on Klook will also equalize tourism opportunities among our destinations, which is the advocacy of the Department of Tourism,” Christina Garcia Frasco, DOT secretary, commented.

“At Klook, we believe there are countless adventures, unique experiences, and cultural treasures still waiting to be discovered. Here in the Philippines, with its stunning natural wonders and the warmth and vibrancy of its people, we are excited to partner with the Department of Tourism to bring even more of these incredible experiences to Filipinos and travelers around the world,” Eric Gnock Fah, Klook president and co-founder, said.

Manila, Philippines – Payment network Mastercard has launched its Priceless program in the Philippines, offering local and international cardholders unique experiences including travel, dining, entertainment, and shopping. The program aims to help connect people with their different interests.

Priceless Philippines is the recent extension of Mastercard’s global Priceless program as tourism in the Asia-Pacific region gains momentum.

Through the Priceless program, cardholders globally can access Mastercard’s offering of curated experiences in various locations, including Indonesia, Malaysia, Singapore, and Thailand.

With the launch of Priceless Philippines, ten destinations in the country have been added to the offering, including a private island vacation, heritage tours, and exclusive concert pre-sales. Mastercard is set to add more experiences in the country.

Simon Calasanz, country manager of Mastercard in the Philippines, said, “The Philippines is home to world-class travel and cultural destinations, and Mastercard is thrilled to showcase the best of these to domestic and international travellers through Priceless Philippines. The program will also support the growth of Philippine tourism and expand economic opportunities for local businesses, complementing the government’s efforts to bolster the local tourism industry.”

Julie Nestor, executive vice president of marketing and communications of Mastercard in Asia-Pacific, said, “Connecting people to their passions, their purpose, and to each other, is Mastercard’s commitment through Priceless and nothing bridges cultures as powerfully as travel. Launching Priceless in the Philippines is part of Mastercard’s ambition within the broader region to elevate tourism experiences while supporting the growth of businesses in this sector.”

Philippines – Coca-Cola Beverages Philippines, Inc. has changed its name to Coca-Cola Europacific Aboitiz Philippines (CCEAP) following its acquisition by Coca-Cola Europacific Partners Plc (CCEP) and Aboitiz Equity Venture (AEV).

The name change, approved by the Securities and Exchange Commission, is effective starting January 15, 2025.

The acquisition was completed on February 23, 2024, after CCEP and AEV’s announcement of jointly owning the company in 2023.

CCEAP is the bottling and distribution partner of Coca-Cola in the Philippines, manufacturing brands like Coke, Royal, and Sprite. Meanwhile, AEV is a holding company with investments in various sectors, in cluding food manufacturing.

“Our new name signifies an exciting new phase in our journey as we reaffirm our commitment to serving our customers, supporting our people and communities, and driving long-term growth for the country. In the 113 years that Coca-Cola has called the Philippines home, we look forward to a hundred more years of refreshing our consumers and making a difference through our Great People, Great Beverages, Great Execution, and Great Partners — Done Sustainably,” Gareth McGeown, president and chief executive officer (CEO) of CCEAP, said.

Sabin Aboitiz, president and CEO of Aboitiz Group, commented, “More than anything, this new name represents the strength of our partnership with Coca-Cola Europacific Partners. We share a solid commitment to our customers and communities, and with this new identity, we believe we can make a much more meaningful impact.”

Manila, Philippines – The Department of Tourism (DOT) has forged a partnership with airline AirAsia Philippines to promote the Philippines as a Muslim-friendly destination.

AirAsia has been offering Halal-certified meal options on its domestic and international flights, which aligns with DOT’s aim to increase Muslim tourists in the Philippines through inclusive experiences.

As part of the partnership, AirAsia Philippines is increasing flight frequency to Cebu, Caticlan, and Cagayan De Oro with the goal of boosting tourist revenue.

Starting January 16 this year, AirAsia Philippines guests can try the new addition to the menu of Santan, the airline’s food and beverages brand. Santan has launched the Halal dish ‘Beef Rendang with Chicken Pastil,’ which is inspired by the culinary traditions of various tribes in Davao. The dish was developed in partnership with the Universal Islamic Center.

Santan’s other offerings include ‘Nasi Lemak and Chicken Rice’ and ‘Chicken Inasal,’ all prepared according to Halal standards.

“AirAsia Philippines takes pride in breaking barriers to travel and making our services more inclusive for all, especially for our Muslim travellers. We are very bullish. We will make this partnership stronger, bigger, and more successful. We understand that airlines play a vital role in the Halal promotion as we are one of the frontiers of consumer journey in tourism. Hence, we continue to be agile and enhance our offerings so that everyone feels welcomed and truly at home when they visit our beautiful country,” Ricky Isla, AirAsia Philippines’ chief executive officer, said.

“As part of our strategy to become a Muslim-friendly tourism destination, we have ensured that the touch points of Muslim tourists in the country are properly addressed. We anticipate that the Santan menu will add even more dishes that are inclusive to our communities in the country bringing more delight to our travellers. Also, I am heartened to know that the focus of AirAsia will be on the expansion of domestic tourism in the country. This memorandum that we have signed today is a testament to the power of collaboration reflecting our shared aspiration for an inclusive and globally competitive Philippine tourism industry,” Christina Garcia Frasco, DOT secretary, said.

Manila, Philippines – The Jollibee Group, a multinational company operating fast food restaurants, has opened the first Tiong Bahru Bakery in the Philippines, also the Singapore bakery’s first international branch.

The new Tiong Bahru Bakery branch is located at the Verve Residences Tower 2 in Bonifacio Global City, Taguig, and is open from 7 a.m. to 10 p.m. daily.

The bakery is known for its handmade pastries which use French ingredients, specifically for its croissant, Pain Au Chocolat, and Kouign Amann among others. It also offers coffee, sustainably sourced from Common Man Coffee Roasters.

Besides using French ingredients, Tiong Bahru Bakery also honours traditional techniques in its creation of pastries.

Jollibee Group unveiled its plans to bring Tiong Bahru Bakery and Common Man Coffee Rosters in the Philippines last year through a joint venture with Food Collective, Pte. Ltd.

“Introducing Tiong Bahru Bakery to the Philippine market aligns with our commitment to providing Filipinos with exciting, world-class dining experiences,” Ernesto Tanmantiong, global president and chief executive officer (CEO) of the Jollibee Group, said.

“This marks the first international branch of Tiong Bahru Bakery, and we are proud to open it here in the Philippines. We deeply appreciate the support of our exceptional partners—Titan Dining, Ayala Malls, and Bonifacio Global City—who have been instrumental in bringing this vision to life. We look forward to seeing this collaboration thrive, blending local and global culinary traditions, as we continue spreading the joy of eating,” Tanmantiong added.

“For years, the Tiong Bahru Bakery has been synonymous with serving the epitome of croissants and an array of delectably unique creations. Now, with its arrival in the Philippines, we want the location to be the people’s go-to spot where they can indulge in freshly baked products while soaking in the store’s inviting ambiance,” Joseph Tanbuntiong, CEO of Jollibee Group Philippines, commented.

“Our signature croissants take three whole days to perfect—a process that involves careful fermentation, layering, proofing, and baking to achieve that golden, flaky finish that we and our customers love. These techniques are a testament to the skill and dedication of our bakers and our belief that great food is worth the time and effort,” Matt McLauchlan, Tiong Bahru Bakery’s general manager, said.

Philippines – Media investment company GroupM welcomes Crisela Magpayo-Cervantes as its new chief executive officer for the Philippines, marking her return to the group since previously working with its agency, Mindshare. The appointment will be effective in February.

With over 20 years of experience in the industry, Magpayo-Cervantes brings expertise in leveraging technology to her marketing strategies. 

Magpayo-Cervantes has served as director of digital practice at Mindshare Philippines and more recently as Mindshare Indonesia’s principal partner. She began her career in the industry at Ogilvy Philippines, where she served as an account director.

Prior to rejoining GroupM, Magpayo-Cervantes held the role of vice president head of media and marketing communications at Globe Telecom for three years. 

During her tenure at Globe, she has led the digital and creative transformation of the company and the marketing communications industry, maintaining her commitment to talent development.