During his working visit to the US last week, President Ferdinand "Bongbong" Marcos Jr. received…
Unilever provides P4.7 billion in investment to Marcos.
Unilever, a global consumer products corporation, agreed to invest PHP4.7 billion in President Ferdinand R. Marcos Jr. on Wednesday.
Malacaang stated in a press statement that the agreement was reached during a meeting between Marcos and representatives of Unilever outside of the commemorative ASEAN-EU summit in Brussels, Belgium.
Marcos hailed the British business for its steadfast support of the Philippines, adding it was encouraging to see that pattern continuing over time.
At the Sofitel Brussels Europe Hotel, Marcos informed representatives of Unilever, “I think that we have a fantastic possibility with some of the policy measures that have been taken from the previous administration and some of the policy adjustments that we have made at the beginning of this administration.
The Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law, which enables businesses to offer incentives that are competitive, is one of these policy reforms. Another is eliminating the 40 percent foreign ownership cap on ventures that use renewable energy sources.
The President stated that one of the core tenets of the administration’s policy is building strong partnerships, with a particular emphasis on public-private partnerships (PPPs), joint ventures, and other forms of alliances to promote investment in the Philippines.
He claimed he wanted to meet with Unilever representatives to hear what they had to say and evaluate the company’s policy orientation in order to facilitate investment.
The multibillion-peso investment, according to Unilever Leadership Executive member and Business Group President Ice Cream Matt Close, is “evidence of their commitment to the Philippines, which they regard to be one of Unilever’s essential places for investments.”
In order to use renewable energy and ensure sustainability, the press release quoted Unilever officials as saying that they have invested considerably in its Philippine plants during the previous three years.
Unilever claimed that, despite problems with labor and energy, it would recover through automation and digital transformation, two areas in which Filipinos thrive.
Investment pledge in renewable energy
Acciona, a Spanish multinational corporation that specializes in the development and management of infrastructure and renewable energy, also agreed to invest in Marcos’ infrastructure and renewable energy projects.
Although “there has been a lot of progress in that direction,” he noted, “we still need to do more to build up our renewables.”
“Renewable energy is becoming more popular, therefore we must adapt… We’ll need to boost our production capacity, the President stated.
He told Acciona representatives, “These are all pertinent to the Philippines, and I hope that I’ll be able to visit you there… your operations in these particular locations.
With the easing of the 40 percent stock cap for foreign companies in renewable energy projects, particularly those for the solar and offshore wind industries, Acciona has committed to investing.
Officials from Acciona, under the direction of Chairman Jose Manuel Entrecanales, are also considering Manila as their primary center for Southeast Asia.
“To the best of our abilities, we feel at home in your nation. We would like to make the Philippines one of our hubs for Southeast Asia, if not our primary one because we find it to be warm and business-friendly, Entrecanales added.
Building “smart infrastructure that is sustainable, reducing, adaptable, resilient, and revolutionary” is what Acciona committed to.
The second leg of the Philippine railway line, which will run 50 miles north of Manila from Malolos City to Clark International Airport, is being built by Acciona as the main contractor. The contract has a $656 million USD value.
The 650-meter-long Cebu-Cordova cable-stayed bridge in the Philippines, which connects Cebu City with Mactan Airport, was finished in September of last year by the EU-based company.
Along with Unilever and Acciona, Marcos also had meetings with executives from Ocea and Semmaris, two businesses with European headquarters.
Ocea is a French multinational corporation that specializes in shipbuilding, integrated logistical support, maritime safety, security, and navigation.
According to Radio Television Malacaang (RTVM) on its official Facebook page, “The business wants to establish a shipyard in the Philippines with an investment of PHP1.5 billion, which is estimated to produce 500 to 600 direct and indirect jobs.”
The Rungis International Market, the biggest fresh produce market in the world, is run by Semmaris, a corporation with its headquarters in France.
Along with ensuring the security of its tenants, the firm also develops, markets, and promotes the Market’s infrastructure.
According to RTVM, “Semmaris wants to create and run an agro-logistics service in New Clark City, Tarlac that will operate a wholesale market for fresh items with an organized and effective food supply and value chain.” Semmaris is a corporation that manages logistics hubs.
Marcos is anticipated to attend the ASEAN-EU Commemorative Summit and speak numerous times during the plenary after meeting with business executives.
In addition, he will participate in a press conference following the summit along with Prime Minister Hun Sen of Cambodia, President of the European Council Charles Michel, and President of the European Commission Ursula von der Leyen.
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