MANILA, Philippines — Touting the Philippines as an attractive investment destination, President Ferdinand Marcos Jr. has urged European businesses and investors to put their money in $161 billion worth of its key infrastructure projects.
The President also expressed optimism that the country’s free trade agreement with the European Union will be finalized by 2027, a deal that may potentially increase trade by 6 billion euros.
In his message during the 2024 European-Philippines Business Dialogue and European Investors’ Night in Makati City on Monday, Marcos said European firms and investors would find “a range of investment opportunities for public-private partnerships” in the Philippines.
READ: Marcos renews pitch for EU free trade deal
READ: Marcos’ European tour: Investments, diplomatic wins for PH
He cited 185 major infrastructure projects worth $161 billion or P9.21 trillion under the Build Better More program, the government’s infrastructure development plan.
The big-ticket projects include transportation infrastructure like the North-South Commuter Railway (P873.6 billion), New Manila International Airport (P735.6 billion), and Metro Manila Subway Project (P488.5 billion).
“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,” the President said in his message, which was delivered by Executive Secretary Lucas Bersamin.
The Marcos administration’s Build Better More program superseded the similar “Build, Build, Build” program of former President Rodrigo Duterte. —JULIE M. AURELIO
Stefanie Babst Strategic advisor and former NATO deputy assistant secretary genera
A leading rabbi has warned that threats and harassment are leading some Europeans to hide their Jewish identities, cautioning that the rise in antisemitism coul
The global carmaker Stellantis is to sell cheap electric cars made by its Chinese partner Leapmotor in Europe, including the UK, as it criticised Joe Biden’s
THE FIRE that broke out in the Diehl Metall factory in the Lichterfelde suburb of Berlin on May 3rd was not in itself suspicious. The facility, a metals plant,