Businesses seal $1.53 billion in deals during Australia visit

During the Philippine Business Forum in Melbourne, fourteen business deals were signed, with President Marcos promoting the Philippines as a reliable partner for investors looking to expand their operations. These agreements are expected to generate Australian investments worth $1.53 billion or approximately P86 billion.

Trade Secretary Alfredo Pascual announced that the agreements span various sectors such as renewable energy, waste-to-energy technology, organic recycling technology, countryside housing initiatives, data centers, manufacturing of health technology solutions, and digital health services. These partnerships are seen as crucial for the economic growth of the Philippines.

Some of the key agreements include the development of a tier-3 data center in Poro Point Freeport Zone, expansion of next-generation battery manufacturing, deployment of decarbonization solutions at New Clark City Stadium, development of an electric transportation framework, support for the national housing program, and establishment of a recycling facility for plastic waste.

President Marcos highlighted the efforts to improve the ease of doing business in the Philippines and emphasized the importance of public-private partnerships. He encouraged Australian businesses to consider the Philippines as a reliable partner for investment and underscored the administration’s commitment to policy reforms that create a conducive environment for businesses to thrive.

The President also mentioned initiatives to attract Australian investors, such as establishing green lanes for strategic investments and enacting economic bills. He expressed willingness to explore new avenues of cooperation and foster mutually beneficial partnerships that contribute to economic vibrancy.

In addition, President Marcos addressed the need for amendments to the 1987 Constitution to remove barriers to foreign investments. He emphasized the government’s focus on addressing climate change and energy transition, highlighting the importance of renewable energy in the country’s strategic planning. The administration aims to create policies that incentivize energy efficiency and conservation, encouraging sustainable practices in the private sector.

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