THE government of the Philippines and Japan will formally sign two projects under the 27th Yen Loan Package this week after a four-year suspension next week.

The national government will be represented by Foreign Affairs Undersecretary Rafael Seguia, while the Japanese government will be represented by Japanese Ambassador to the Philippines Makoto Katsura during the signing and exchanging of notes and record of discussions on December 3.

The two projects are the Pinatubo Hazard Urgent Mitigation Project Phase III and Agrarian Reform Infrastructure Support Project Phase III. These are the first two projects to be signed under the Yen Loan Package after it was suspended in 2003.

The P2.9-billion Pinatubo Hazard Urgent Mitigation Project will be implemented by the Department of Public Works and Highways.

It is part of the comprehensive flood-control program which aims to expand the rehabilitation works in the provinces of Tarlac, Pampanga and Zambales.

The P4.6-billion Agrarian Reform Infrastructure Support Project will be implemented by the Department of Agrarian Reform.

The third phase of the project will provide basic infrastructure, institutional development, agricultural support and agri-business to cover at least 58,330 agrarian-reform beneficiaries.

Earlier, National Economic and Development Authority deputy director general Rolando Tungpalan said the government of Japan has already given the “categorical approval” of the Agrarian Reform Infrastructure Support Project Phase III and the Pinatubo Hazard Urgent Mitigation Project  Phase III.

Tungpalan said the Japanese government expressed its appreciation for the country’s progress in reimbursing Japanese companies charged with the value-added tax.

To date, the Department of Finance said 79 percent “of the total documented [reimbursement] claims” had been paid.

SUBIC BAY FREEPORT—The $57-million expansion program for the Subic Bay Industrial Park (SBIP) here is now attracting more investors from Taiwan, particularly those engaged in export manufacturing, research and development.

THE government of the Philippines and Japan will formally sign two projects under the 27th Yen Loan Package this week after a four-year suspension next week.

AN official of the Department of Agriculture (DA) on Monday cited biotechnology as the key to the country’s survival during these crucial times when the country is threatened by unfavorable weather conditions such as drought and supertyphoons that can adversely affect agricultural production.

Damage to crops and fisheries caused by typhoons Lando and Mina has already reached P109.7 million, the Department of Agriculture (DA) said Monday.

DAVAO CITY—A local food manufacturer here broke through the rich Middle Eastern market when it sent its initial shipment of 20 metric tons (MT) of frozen bananas last month, in a successful follow-through of the government-led trade mission to the Kingdom of Saudi Arabia in April this year.

AN official from the Bureau of Fisheries and Aquatic Resources (BFAR) said not all fishermen are affected by the ongoing exploratory oil-drilling operations by a Japanese in Tañon Strait—the sea between the islands of Cebu and Negros.

THE National Economic and Development Authority (Neda) Investment Coordination Committee (ICC) has accepted the counterproposal made by the project’s proponent, a consortium led by Universal LRT Corp. for the Metro Rail Transit 7 project.