DOF: Japan’s JBIC eyeing to invest in PH
The Japan Bank for International Cooperation (JBIC) is eyeing to invest in the Philippines’ infrastructure projects, bond issuances and other opportunities.
According to the Department of Finance, JBIC governor Nobumitsu Hayashi expressed strong interest in the country’s samurai and green bonds, while also providing clues on potential partnerships in renewable energy projects, such as in transmission and generation, specifically hydropower.
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Philippine officials, led by Finance Secretary Ralph Recto, met with JBIC executives in Manila last July 17.
The Marcos administration earlier said it was considering raising funds for its priority projects from the sale of yen-denominated securities, or samurai bonds. This will be the Marcos administration’s first foray into the thematic bonds since April 2022, where it raised a total of ¥70.1 billion or P28.55 billion.
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In a statement, the DOF also said the Japanese financial institution remained committed to supporting Japanese projects to expand manufacturing and supply chains here.
Recto likewise pitched the mining industry to the JBIC officials, especially with the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) bill, which will adjust investor perks once it is passed into law.
Moreover, Recto gave assurance to Japanese investors that the bill would exempt export-oriented enterprises from paying value-added tax thus slashing the cost of doing business in the country.
