MANILA — President Ferdinand R. Marcos Jr. on Tuesday invited foreign investors to participate in the Philippines’ Build Better More infrastructure program.
In a speech at the Indo-Pacific Business Forum in Taguig City, President Marcos said the infrastructure program currently includes 185 priority projects worth P9.5 trillion.
Marcos said the program is set to transform the Philippines’ infrastructure landscape. “These projects contribute to our goal to be the next logistics hub in Asia,” he said.
The Chief Executive said a whole-of-nation approach, particularly private investments, is necessary to achieve this goal.
“Therefore, we invite foreign investors to participate in this endeavor through public-private partnerships, engineering, procurement, and construction contracts, and for feasibility studies, as well,” he said.
President Marcos touted the country’s Public-Private Partnership (PPP) Code, which he said makes collaboration between the government and the private sector more efficient.
“With the Public-Private Partnership (PPP) Code, we have accelerated the delivery of critical projects, fostering economic growth, and enhancing the quality of life for all Filipinos,” he said.
Marcos further said the recent establishment of the country’s sovereign wealth fund or the Maharlika Investment Fund (MIF) demonstrates the Philippines’ strong commitment to strategically invest in key sectors that will accelerate national development.
“This fund plays a vital role in financing critical infrastructure projects, stimulating economic growth, and generating long-term returns for the benefit of all Filipinos,” he said.
“By mobilizing resources and attracting private capital, the Maharlika [Investment] Fund will be pivotal in our goal of creating more opportunities for future generations,” he added.
Republic Act No. 11954 or the Act Establishing the MIF was signed by President Marcos in July 2023. The Philippines’ first-ever sovereign wealth fund will be invested in a wide range of assets, including foreign currencies, fixed-income instruments, domestic and foreign corporate bonds, joint ventures, mergers and acquisitions, real estate and high-impact infrastructure projects, and projects related to sustainable development. (PND)
