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Saturday, July 20, 2024

PH woos ST Engineering to invest in infra, aerospace

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Department of Trade and Industry (DTI) Secretary Alfredo Pascual met ST Engineering Group president and chief executive with Chong at the sidelines of the Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum 2024 to discuss potential investments and collaboration.

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.

Held at ST Engineering’s headquarters in Singapore, 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 said

He said the 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 said.

The meeting concluded with a tour of ST Engineering’s Innosuite, showcasing their cutting-edge innovations in smart mobility, cybersecurity and urban solutions.

“This partnership could bring significant benefits to both the Philippines and ST Engineering, driving innovation and economic growth in both countries,” Pascual said.

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