Aussie investors keen on key sectors

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Australian investors are showing interest in partnerships in key sectors in the Philippines, such as education, clean energy, mining, food and agriculture, and shipbuilding.

The Department of Finance, in a social media post yesterday, said Australian Ambassador to the Philippines Hae Kyong Yu paid a follow-up courtesy visit to Finance Secretary Ralph Recto to deepen discussions on the business interests generated from the Philippine Business Forum in Australia held last March 4.

Yu emphasized Australia’s keen interest in expanding its investments in the Philippines, citing the country’s strong growth and young demographics as key factors.

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Yu also explored the prospect of Australia’s Superannuation pension fund investing in Philippine infrastructure projects through Australian asset management companies and the Maharlika Investment Fund.

In response, Recto said the Philippine government has recently advanced amendments to the Corporate Recovery and Tax Incentives for Enterprises Act and is pushing for the passage of the Rationalization of the Mining Fiscal Regime.

These measures aim to further open up the country for investments while streamlining the tax and incentive systems to address investor concerns.

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