The Department of Finance (DOF) recently engaged with top officials of the Macquarie Group in Singapore to look into new investment opportunities for partnership.
In a social media post over the weekend, the DOF said Macquarie officials highlighted their active role in energy transition initiatives in the Philippines, including a floating solar project, as part of their commitment to support the country’s carbon reduction goals.
The global firm also expressed optimism about the Philippines’ energy landscape, especially in light of its policy allowing full foreign ownership of renewable energy projects.
Macquarie officials likewise shared that investors are drawn to the country due to its favorable demographic profile, young population, robust gross domestic product growth and investor-friendly reforms.
DOF undersecretary Maria Luwalhati Dorotan Tiuseco represented the DOF during the discussion and emphasized opportunities for further expanding public-private partnerships (PPP) in the country following the enactment of the PPP Code.
She also updated Macquarie officials on the key reforms aimed at further improving the Philippines’
business climate, including the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy, the rationalization of the mining fiscal regime, and Package 4 of the Comprehensive Tax Reform Program.
Tiuseco likewise shared updates on the Philippines’ ongoing efforts to update its Nationally Determined Contributions, with energy and transport as top priority sectors.
She noted that the government is finalizing its project pipeline and financing strategy to advance the country’s climate goals.
Finally, Tiuseco assured Macquarie that the DOF is more than ready to collaborate with them to further address their concerns.
Macquarie Group is a global financial services firm with over 20 years of operations in the Philippines. It is engaged with extensive experience in PPP advisory, equity research, asset management and global support functions.
The meeting was held on September 20, on the sidelines of the 4th Philippine-Singapore Business and Investment Summit.
