The National Economic and Development Authority (NEDA) encouraged potential investors in Doha, Qatar and Dubai, United Arab Emirates (UAE) to explore investment opportunities in infrastructure projects in the Philippines especially in Mindanao, and the energy sector.
During his presentation at the Philippine dialogue with investors in Doha, and the Philippine Economic Briefing in Dubai, NEDA Secretary Arsenio M. Balisacan stressed, “The Marcos Administration is committed to prioritizing infrastructure development in the Mindanao region – one of the country’s most promising regions because of its significantly untapped potential for various growth drivers, particularly in agriculture and agro-processing.”
He added the government will prioritize projects that will significantly reduce the cost of connectivity and power in Mindanao, improve the region’s resilience to shocks caused by climate change, and raise Mindanao’s productivity as a growing agricultural and industrial hub.
Currently, there are 79 Infrastructure Flagship Projects (IFPs) worth USD45.9 billion in Mindanao, with nine projects being implemented through Public-Private Partnerships (PPPs).
Balisacan emphasized the crucial role of investors in helping the Philippine government realize the region’s potential, as well as the implementation of IFPs through PPPs.
“We will harness PPPs to finance these IFPs and other high-impact projects and leverage on the private sector’s ability to use innovative processes, efficiently mobilize its resources, and deliver high-quality services,” the NEDA chief said.
Another area that Balisacan pointed out to investors is the energy sector. He said the Philippine Energy Plan 2020-2040 outlines how a more sustainable and resilient energy system will play a crucial role in driving the socioeconomic transformation of the Philippines.
He noted, “The country will need foreign direct investments in renewable energy. To achieve our target mix for renewable energy, we will require a total investment of about USD104 billion by 2040.”
The Philippine dialogue in Doha on September 10, and the Philippine Economic Briefing in Dubai on September 12, and several other investor meetings are part of the Economic Team’s first non-deal roadshow and briefings in the Middle East.
In Doha, 51 guests attended the dialogue, which includes officials of the Qatar government, senior executives of Qatar-based funds and corporates, as well as representatives of business groups, industry associations, financial community, and the media. The Economic Team also met with Qatar’s Ministry of Finance, Qatar Investment Authority, Qatar Cool, Qatar Insurance, and Qatar National Bank, among others.
In Dubai, the Economic Team also met, through separate meetings, with Nasdaq Dubai CEO Hamed Ahmed Ali, Minister of State H.E. Thani Ahmed Al Zeyoudi of the Ministry of Economy, Arqaam Capital, Maybank Islamic Berhad Dubai, and Investment Corporation of Dubai, among others.
