THE National Development Co. (NDC) is set to invest P30.72 billion in 18 projects which will address the economy’s current needs.
“We are transforming NDC into a niche investment platform that specializes in filling ‘gaps’ that the Philippines urgently needs to fill,” NDC General Manager Antonilo DC. Mauricio said in a statement.
Mr. Mauricio said NDC investing will focus on pioneering, developmental, sustainable, inclusive, and innovative projects.
He said key projects this year include the Philippine Innovation Hub, which will be the headquarters of the Startup Venture Fund; the Philippine E-commerce Platform; and the Philippine Artificial Intelligence Research Center.
He also cited Glovax’s Vaccine Manufacturing Plant, in which it will be investing P150 million. The plant is expected to be the first vaccine manufacturing facility in the Philippines.
“This project is urgently needed for vaccine self-sufficiency, providing cheaper vaccines to the poor, and preparing for the next pandemic,” Mr. Mauricio said.
He also cited NDC’s plan to invest P1.65 billion in Singapore-based Kacific Broadband Satellite group, which is planning to provide broadband satellite services to unserved and underserved areas through contracts with government agencies.
“The NDC investment in the Kacific group will allow NDC to pre-purchase frequency blocks at a lower price which will in turn be sold at lower-than-market prices to Philippine buyers over the next six years,” he said.
The NDC is also investing in the expansion of a composting facility of Davao Thermo Biotech Corp. and Australia’s Cyclion waste-to-energy project.
“There are over a hundred projects, but this is the shortlist. They are in varying stages of evaluation, approval, and release. The ones that I have (cited) are the ones nearing release,” Mr. Mauricio said.
“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,” he added.
The One DTI (Department of Trade and Industry) Building was also one of the projects listed in a document from NDC. It is planning to invest P18.5 billion.
“Looking ahead at 2024, the NDC will continue to identify gaps where it can make its modest contributions to national development,” Mr. Mauricio said. — Justine Irish D. Tabile