Finance Secretary Frederick Go and JBIC Governor Amakawa Kazuhiko signed a three-year Memorandum of Cooperation (MOC) aimed at strengthening coordination on infrastructure development, including public-private partnership (PPP) projects.
The agreement covers supply chain resilience, clean energy transition, financial cooperation and the promotion of Japanese foreign direct investment in the Philippines.
“Our renewed cooperation comes at an important time. For our economy to remain competitive, we need reliable energy, efficient infrastructure, and resilient supply chains. These are essential to managing business costs, attracting investment, and sustaining growth,” Go said.
Improving connectivity
Go identified the Luzon Economic Corridor (LEC) as a priority for cooperation, particularly in improving connectivity among Subic, Clark and Batangas.
The corridor aims to facilitate the movement of goods, reduce logistics costs and attract investments that could generate employment.
Improved transportation and logistics infrastructure is also expected to strengthen supply chains and support economic activity in key industrial areas.
The partnership will also explore opportunities to mobilize financing and technical expertise for infrastructure projects.
Energy transition
In the energy sector, the agreement will support initiatives under the Asia Zero Emission Community (AZEC) framework to advance decarbonization and attract investments in cleaner energy technologies.
The cooperation is intended to help the Philippines address its energy requirements while pursuing its transition toward lower-carbon energy sources.
JBIC said discussions were already underway to identify potential projects under the renewed agreement.
“We view this MOC as an important first step for deeper cooperation. I understand that our respective teams have already begun exploring specific opportunities in several promising areas,” Amakawa said.
The agreement provides a framework for further collaboration between JBIC and Philippine public and private sector institutions on investment and infrastructure development. —Ed: Corrie S Narisma
