In a move to bolster its infrastructure and technological capabilities, the Philippines is exploring a strategic partnership with ST Engineering.
On the sidelines of the Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum 2024, Department of Trade and Industry (DTI) Secretary Fred Pascual met with Vincent Chong, ST Engineering’s Group President and Chief Executive Officer, to discuss potential investments and collaborations.
Held at ST Engineering’s headquarters, the discussions highlighted the significance of public-private partnerships (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,” Secretary Pascual said.
The aerospace sector, particularly in maintenance, repair, and overhaul (MRO), was identified as a key 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.
The collaboration aims to enhance the aviation capabilities of the Philippines, benefiting both countries through shared technology and expertise.
Moreover, the Philippine delegation presented the potential for ST Engineering to extend its smart city technologies 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 innovations in smart mobility, cybersecurity, and urban solutions.
Highlighting the potential collaboration, Secretary Pascual 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 spanning aerospace, smart city, defense, and public security segments.