$7B in infrastructure projects being negotiated with Japan
By Jenina P. Ibañez | Business World | August 5, 2021 8:32 pm
PHILSTAR
THE GOVERNMENTS of the Philippines and Japan are in talks for $7.5 billion worth of projects in aquaculture development, health, and artificial intelligence, Japan-based Global Trade Venture Co. Ltd. (GTV) said Thursday.
The company, which works on engineering and design, will help implement five concession projects in the Philippines, several of which will be built over a two-year period.
GTV in a briefing said that an industrial park for marine and aquaculture project, plus a supporting cargo hub, will entail providing robotics and artificial intelligence to local government units, putting up warehouse and logistics facilities, and creating training institutes for organic farming.
“Agriculture and aquatic products produced and processed (have) already been pre-determined (along with) a ready market for product distribution lines, particularly in Japan and in other countries,” the company said in its presentation.
A Philippine offshore sea concession for fish farming will have artificial intelligence-controlled fish cages and will be backed by research and development centers, power generation and water processing plants, and warehouses. The floating facility will be 5-15 kilometers from the shoreline.
Meanwhile, a global digital datalink service network will have satellite ground station facilities for big data used for secure information transfer between GTV joint venture members and for artificial intelligence-backed operations.
A 20,000 square-meter regional medical center project operated by the Japan Medicinal Association will have a pharmacy and clinic to provide medical services to local residents.
A Philippine global artificial intelligence corridor will also be developed to attract software research and development and robot manufacturing. It is a response to Japanese manufacturing firms’ exit from China by providing locations for Japanese advanced-technology industries.
Project sites and funding details will be announced by the Japanese and Philippine governments, GTV Japan Group Senior Consultant Kazuo Sato said.
The company is an engineering consulting group supporting government projects, he said.
GTV Chairman and Chief Executive Officer Yoshihisa Arai on Thursday signed an industrial park development concession agreement for aquatic products with the provincial government of Marinduque.
Source: Business World