Marcos asks European traders to invest in infra projects

JEAN MANGALUZ

MANILA, Philippines — Touting the Philippines as an attractive investment destination, President Ferdinand Marcos Jr. has urged European businesses and investors to put their money in $161 billion worth of its key infrastructure projects.

The President also expressed optimism that the country’s free trade agreement with the European Union will be finalized by 2027, a deal that may potentially increase trade by 6 billion euros.

In his message during the 2024 European-Philippines Business Dialogue and European Investors’ Night in Makati City on Monday, Marcos said European firms and investors would find “a range of investment opportunities for public-private partnerships” in the Philippines.

READ: Marcos renews pitch for EU free trade deal

READ: Marcos’ European tour: Investments, diplomatic wins for PH

He cited 185 major infrastructure projects worth $161 billion or P9.21 trillion under the Build Better More program, the government’s infrastructure development plan.

The big-ticket projects include transportation infrastructure like the North-South Commuter Railway (P873.6 billion), New Manila International Airport (P735.6 billion), and Metro Manila Subway Project (P488.5 billion).

“This program is transforming our infrastructure landscape by offering public-private partnerships in renewable energy, waste management, transportation and disaster mitigation.

These initiatives will further enhance the Philippines’ attractiveness as an investment destination,” the President said in his message, which was delivered by Executive Secretary Lucas Bersamin.

The Marcos administration’s Build Better More program superseded the similar “Build, Build, Build” program of former President Rodrigo Duterte. —JULIE M. AURELIO