Gov't pitches infra, energy investments in Middle East roadshow

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Metro Manila (CNN Philippines, September 12) — The administration's economic managers pitched infrastructure and energy investments to Middle East businesses this week, in particular, Mindanao’s potential.

In a statement on Tuesday, the National Economic and Development Authority (NEDA) said Philippine officials held a dialogue with investors in Doha, Qatar, and the United Arab Emirates in Dubai.

“The Marcos administration is committed to prioritizing infrastructure development in the Mindanao region – one of the country's most promising regions because of its significantly untapped potential for various growth drivers, particularly in agriculture and agro-processing,” NEDA Secretary Arsenio Balisacan was quoted as saying in his presentation.

Balisacan said the planned projects aim to cut costs of connectivity and power in the south, adding that Mindanao can become an agricultural and industrial hub.

NEDA said 79 infrastructure flagship projects worth ₱45.9 billion have been designed for Mindanao.

Nine projects are under public-private partnerships.

Balisacan also presented the energy plan until 2040.

“The country will need foreign direct investments in renewable energy," he said. "To achieve our target mix for renewable energy, we will require a total investment of about $104 billion by 2040."

“Opportunities await not only in infrastructure, as mentioned, but also in our promising growth drivers such as agribusiness, mining, tourism, manufacturing, education, creative industries, health care, and the information technology and business process management sectors,” Balisacan said.