Indonesian business group keen on infra, energy projects in PH

An Indonesian business group is looking to partner with local firms or individuals in the Philippines for possible collaboration in the infrastructure and green energy sector.

During a recent business forum, Indonesian businessman Irman Gusman – whose business group is engaged in infrastructure and palm plantations in Indonesia – said they were searching for partners  for these projects.

“My group (is) interested to participate, to look for (business opportunities) in infrastructure. (This is) because Indonesia has the capacity to develop,” he said at the sidelines of the conference organized by the Asxend International Group of Companies.

“The goal is to have a local partner who can support us, to get all the regulation (requirements),” he added.

Gusman, who previously served as chairman for two terms at the Indonesian Senate, said funding would come from the Middle East, where they have established connections, but the prospective projects in said industries would be undertaken by the Indonesian and Philippine partnership.

He added that they were also looking at prospects at the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) and that they were planning to go there in their next visit in the Philippines, which has yet to be scheduled.

“We want to come and see the potential and see where we can cooperate,” Gusman said.

The Indonesian businessman said they have sought an audience with the Federation of Filipino-Chinese Chambers of Commerce and Industry Inc. (FFCCCI), the Korean Chamber of Commerce Philippines Inc., as well as with the local Singapore chamber of commerce for possible partnerships.

The Philippine government has previously expressed a renewed thrust to fund infrastructure projects in its first year, as well as recently introduced game-changing changes in regulatory policy on renewable energy.

According to the Department of Budget and Management (DBM), a total of ₱1.196 trillion will be allocated to the government’s infrastructure programs under the proposed 2023 budget.

Under the budget proposal, which is currently under review by Congress, ₱718.4 billion will be allocated to the Department of Public Works and Highway (DPWH) while ₱167.1 billion will go to the Department of Transportation (DOTR).

As for the renewable energy sector, the Philippine government has decided to remove the foreign equity limit in local projects, this means foreign investors can now fully own renwable energy projects.

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