Ambassador Yap Promotes Infrastructure and Energy Investments in PH at the ASEAN Infra and Energy Finance Forum

08 March 2018 SINGAPORE – Philippine Ambassador to Singapore Joseph Del Mar Yap promoted infrastructure and energy investments in the Philippines during his presentation at the ASEAN Infra and Energy Finance Forum last 27 February at the Suntec Singapore Convention & Exhibition Centre.

Ambassador Yap highlighted the Philippine government’s ‘Build, Build, Build’ infrastructure campaign that was allocated P1.097 trillion this year, which is almost a third of the budget.

Among the notable projects under the ‘Build, Build, Build’ program include the Mega Manila Subway Phase I, expansion of the Clark International Airport, and New Clark City, which involves the participation of Surbana Jurong.

Surbana Jurong is a Singapore consulting firm considered to be one of the largest in Asia. Aside from Surbana Jurong, other companies, such as Filinvest Land Inc. and Japan Overseas Infrastructure Investment Corporation, are also collaborating with the Bases Conversion and Development Authority (BCDA) to develop New Clark City as a “smart, green and disaster-resilient city.”

On the energy aspect, Ambassador Yap cited the Philippine Energy Plan (PEP) 2017-2040 as a useful framework for energy investors to formulate business plans and strategies.

President Rodrigo R. Duterte also signed E.O. No. 30, which created the Energy Investment Coordinating Council (EICC) to streamline regulatory procedures affecting energy projects.

Prospective investors were also informed on the many avenues by which they can participate in financing investment projects (i.e., PPPs, hybrid PPPs, and joint venture contracts).

The ASEAN Infra and Energy Finance Forum brought together project investors and developers to discuss the development of sources of financing for low carbon energy and infrastructure projects across Asia, including power, renewables, infrastructure, and transportation projects. END

For more information, visit www.singaporepe.dfa.gov.ph/ www.philippine-embassy.org.sg or https://www.facebook.com/PHinSingapore