US firm’s investments in PH hit $1.7B

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US-based global investment firm KKR yesterday said its investments in the Philippines have reached $1.7 billion which will continue to increase as part of the $6.4 billion it recently closed will be channeled into the country, according to David Luboff, partner, head of Asia Pacific Infrastructure and co-head of KKR Asia Pacific, KKR.

KKR is one of the US companies that disclosed investment plans in the Philippines as part of the presidential trade and investment mission visiting the country.The others are UltraPass ID, Sol-Go,  Microsoft Corp. Mastercard and InnovationForce.

Luboff did not specify how much of the new funding will go to the Philippines but said KKR is interested in renewable energy.

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KKR has  invested in the healthcare industry through Metro Pacific Hospitals, financial technology through Voyager and infrastructure through Pinnacle Towers, which is the largest independent tower company in the Philippines with close to 5,000 towers.

InnovationForce announced it is poised to close a deal with Aboitiz Power Corp. for the rollout of software tools that would automate, scale and measure the local firm’s innovation process.

UltraID Pass signed an agreement with the Department of Budget and Management for the deployment of biometrics as a multifactor and higher form of authentication and with NOW Corp. for the provision of cyber solutions.

SolGo announced plans to invest $5 million to increase the capacity of its solar panel manufacturing facilities to 150 megawatts in Lima Estate for export and domestic sale.

Microsoft announced partnerships with: government agencies for the deployment of Microsoft 365 Copilot; the Technical Education and Skills Development Authority to help equip over 100,000 women learners with AI and cybersecurity skills and; the nonprofit Unconnected.org to bring internet access to 1 million people across the Philippines.

Mastercard said it is building on its small business initiative for capital know-how and digitalization by training 100,000 small enterprises in the country.

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