By Filane Mikee Cervantes
MANILA – The PHP86 billion worth of investments secured by President Ferdinand R. Marcos Jr. during his trip to Australia would make the Philippine economy more agile and create gainful jobs, a political analyst said on Tuesday.
During the Bagong Pilipinas Ngayon interview over PTV-4, Dr. Froilan Calilung, director of the Local Government Development Institute, said the investments are in key and “trailblazing” sectors, such as renewable energy and digital infrastructure.
“I think this is really good for us in order to create more avenues for economic agility for the country to create more opportunities for the creation of more jobs that will of course be very, very important in securing iyong tinatawag po natin na magagandang economic fundamentals ng ating bansa (what we call the good economic fundamentals for our country),” Calilung said.
Calilung said the investments in renewable energy will pay off to help the country navigate toward a safer and sustainable future.
“I think nakakatuwa na (it’s delightful) that the President is very, very much into the creation of these renewable energy mechanisms, digital infrastructures as well as iyong mga iba’t ibang mechanism na kung saan may mga bago pong industriya na tayo ay nagiging involved (these various mechanisms that engage these emerging industries). So, I think this is a trailblazing attempt on the part of the President to engage in these sectors,” Calilung said.
He said the foreign trips of the President are likely to result in well-meaning programs and actual investment opportunities.
“Whenever the President goes abroad, he always brings with him these investments, his pledges because of the increasing trust and confidence in him and his government not only by the government leaders around the world, but also by business leaders kung saan siya nagpupunta na mga bansa (of the countries he visits),” Calilung said.
President Marcos secured USD1.53 billion (PHP86 billion investments) from 12 business deals signed during the Philippine Business Forum on the sidelines of his participation to the ASEAN-Australia Special Summit in Melbourne on Monday.
The 12 business deals consist of 10 memoranda of understanding (MOUs) between Filipino and Australian business leaders and two letters of intent (LOIs) from Australian business leaders who intend to invest in the Philippines.
Among the MOUs are the development, design, construction, commissioning and funding of a Tier-3 Data Center with a capacity of 30 to 40 megawatts (MW) in the Poro Point Freeport Zone with a land area of about 16 hectares; and Expansion of Next-Generation Battery Manufacturing in the Philippines.
The MOU was also signed for the deployment of decarbonization solutions comprising orchestration of renewable energy, storage and e-mobility to New Clark City Stadium and other Bases Conversion and Development Authority (BCDA) sites to reduce energy costs, reliance on grid power, improve sustainability and achieve progress on decarbonization journey.
Collaborative Partnership on the Development of an Electric Transportation Framework throughout the properties associated with BCDA in the Philippines’ MOU was also signed along with the Pambansang Pabahay Para sa Pilipino/Countryside Housing Initiatives through the Department of Human Settlements and Urban Development.
Another MOU is for the establishment of collection centers and a recycling facility for plastic waste in the Philippines using innovative organic recycling, synthesis of biomass and carbon utilization and material synthesis technologies from an Australian university and exports/distribution of the resulting transparent sustainable material for Australian food and beverage companies.
MOU was also signed for the manufacturing and distribution of portable, affordable and accessible Automated External Defibrillator solutions.
The National Development Company (NDC), the Philippines’ leading state-owned enterprise investing in diverse industries, will partner with an Australian company through an MOU for the transfer of its waste-to-energy technology to the Philippines that converts biowaste to green fuel.
The NDC aims to establish a globally recognized institute in the Philippines that would be called Southeast Asia Biosecurity Institute, focused on developing more biosecurity robust supply chains across Southeast Asia that will deliver significant economic, environmental and social benefits for the region.
An LOI was sent for the Biomass Fueled (Thorium Pellets) Simple-high-Temperature Gas-cooled Power Plant (STGR20 V) with a 40MW base load power to deliver a safe, sustainable, affordable, carbon dioxide-neutral, and green base-load energy in the Philippines.
An LOI was also sent for the development of digital health services with a particular focus on artificial intelligence and machine learning to improve healthcare availability in the Philippines with a particular focus on tuberculosis and other respiratory illness, which is an expansion of the company’s current operations in the Philippines providing telemedicine services to millions of Filipinos.
“These agreements signify our unwavering commitment to excellence and fruitful partnerships spanning diverse sectors such as renewable energy, waste-to-energy technology, organic recycling technology, countryside housing initiatives, the establishment of data center, manufacturing of health technology solutions, and digital health services,” Department of Trade and Industry Secretary Alfredo Pascual said during the forum. (PNA)
