The US and Canadian firms have shown keen interest in investing in Philippines in renewable energy among other sectors, during the roadshow organised by the economic team of Philippines.
The statement said that the roadshow organised by economic managers was concluded recently and it composed of a series of roundtable meetings in New York and Toronto .
The non-deal roadshow showcased the opportunities for investors in the Philippines by focusing on its growth outlook, economic and fiscal policy environment, investment opportunities, and growth engines in the medium and long term, informed the statement. Over 80 senior executives of Canada-based funds and corporates, as well as representatives of business groups and industry associations attended the roadshow.
As per the statement, the economic team briefed companies in fixed-income and infrastructure funds, development finance institutions, mining companies, and asset management firms, about priority sectors like renewable energy investments and the Maharlika Investment Fund.
The DOF informed that the funds such as Financial solutions company FinDev Canada Pension funds Ontario Teachers’ Pension Plan, OPTrust, Ontario Municipal Employees Retirement System, and Healthcare of Ontario Pension Plan
Investment management firms Black Creek and Vanguard “expressed keen interest” in public-private partnerships in infrastructure, investments in sustainability and energy transition, as well as sovereign issuances.
As per recent reports, the Philippines has plans of 15-fold boost in combined solar and wind power by 2030. With this, it also targeting to leapfrog Vietnam as the main renewable energy producer in Southeast Asia. The Philippines currently ranks a distant second in the region in combined solar and wind power generation, with 1,766 megawatts (MW) of installed capacity, compared with 12,379 MW in Vietnam, as per data from Global Energy Monitor (GEM) .