Atin Ito First Filipino Community Newspaper in Ontario
President Marcos has pitched his administration’s $161-billion infrastructure development program in inviting European businesses and investors to the country.
During the 2024 European-Philippines Business Dialogue and European Investors’ Night on Monday, May 6, Marcos told them that the Philippines is offering a range of investment opportunities for public private partnerships (PPPs) under the multibillion dollar infrastructure development program.
“We also offer a range of investment opportunities for PPPs under our Build Better More program, which features 185 major infrastructure projects worth US$161 billion,” Marcos said in a message delivered by Executive Secretary Lucas Bersamin during the event.
“This program is transforming our infrastructure landscape by offering public-private partnerships in renewable energy, waste management, transportation, and disaster mitigation. These initiatives will further enhance the Philippines’ attractiveness as an investment destination,” he stated.
The President also told European business entities that the Philippines put up the Maharlika Investment Fund, its first sovereign wealth fund, to provide a platform for private-sector engagement in financing flagship infrastructure projects in the country.
He added that with the enactment of the Public-Private Partnership Code, the private sector can now quickly participate in a more stable, predictable, and competitive environment where high-quality PPP investments can thrive.
Marcos also made a firm commitment during the gathering to foster sustainable and green economies through the Philippines-European Union Free Trade Agreement (PH-EU FTA) that is currently being negotiated.
“Through this agreement (FTA), we aim to enhance cooperation in renewable energy, smart manufacturing, and digital services. European companies have a significant role in supporting our transition to a sustainable economy through investments in clean technologies and innovative solutions,” he said.
“The importance of sustainability cannot be overstated. In alignment with our global partners, we are committed to reducing our carbon footprint, increasing our reliance on renewable energy, and ensuring the sustainability of our industries for future generations,” he added.
He expressed hope to finalize the negotiations by 2027. — Betheena Unite
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Credit belongs to: www.mb.com.ph
