Philippines-France Business Relations under Marcos and Macron Administrations
“The Philippines is not an economic desert, it is very wealthy,” said MEDEF Delegation Lead Philippe Matiere. “President Macron sees great similarities and potential between the Philippine and French economies, and we are keen to advance growth by adding our (French) know-hows to the know-hows of the Philippines.”
24 October 2022 – MBC and the Philippines-France Business Council (PFBC) members hosted 25 French business delegates from Mouvement des Entreprises de France (MEDEF) – the largest employer federation in France – to explore bilateral opportunities for infrastructure, transportation, and energy under the newly elected Marcos and Macron administration
Sustainable infrastructure, water and waste management, energy security, and inclusive transportation were among the underlined priorities of Philippine government speakers and French representatives during the forum.
The openness of both the Macron and Marcos administrations to public-private partnerships (PPP) was highlighted. “I believe that the French and the Philippine government have united in our commitment to engage the private sector and deepen our investments,” said Department of Trade and Industry (DTI) Sec. Alfredo Pascual.
“There are legislative moves to forward a new PPP act that would make way for more partnerships with both local and national governments. The IRR (Implementing Rules and Regulations) of the BOT (Build-Operate-and-Transfer) Law of the Philippines has also been amended, which opens more opportunities and simplified processes for potential partners and investors,” said Department of Public Works & Highways (DPWH) Usec. Catalina Cabral.
MBC Trustee and Aboitiz Infracapital CEO Cosette Canilao added that French tech and expertise will be “well-optimized for output-driven PPP projects in the Philippines”.
DTI Sec. Pascual also eyes France to be a key partner in science and technology-driven industrialization, and seeks France’s support for the Philippine Innovation Act. “We are leveraging the fourth industrial revolution technologies and our existing industrial strengths to upgrade and diversify the country’s participation in global value chains,” he added.
This event was supported by The Embassy of France in the Philippines, the Department of Trade & Industry, PTIC Paris, DTI Foreign Trade Services Corp., SGV & Co., Schneider Electric, and Aboitiz Infracapital.
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