Philippines and Marubeni Corporation form renewable energy partnership

Department of Trade and Industry (DTI) Secretary Fred Pascual welcomed senior management from Marubeni Corporation to discuss key investment opportunities that could strengthen economic ties between the Philippines and Japan. Highlighting Marubeni’s potential to drive economic growth through strategic infrastructure investments aligned with the Philippines’ renewable energy goals, Secretary Pascual emphasized its ongoing efforts to improve the investment climate for Japanese companies.

Discussions focused on government initiatives to create a more favorable environment for Japanese businesses, including improved infrastructure, fiscal incentives, and streamlined business operations. Secretary Pascual also emphasized the DTI’s role in implementing President Ferdinand R. Marcos Jr.’s Food Logistics Action Program, which aims to improve food terminals and logistics systems to ensure food security.

In addition to food security initiatives, Secretary Pascual highlighted investment opportunities in sectors such as value-added agricultural commodities processing, connectivity, infrastructure and real estate development. Marubeni, in business since 1909, has played a key role in key infrastructure projects in the energy sector, contributing significantly to the reliability of the country’s energy supply.

Looking to the future, Marubeni has expressed interest in sustainable development initiatives, including Smart Grid and Floating Solar projects in New Clark City and exploring Offshore Wind Power projects to leverage renewable energy sources in the Philippines. Marubeni’s commitment to the environment includes a Joint Carbon Credit Program focused on reforestation to combat climate change.

The Philippine government, while welcoming Marubeni’s initiatives, reaffirmed its support for a vibrant business environment conducive to foreign investment, as highlighted by recent policy reforms aimed at attracting more foreign direct investment in various sectors.

Secretary Pascual reaffirmed the Government of the Philippines’ commitment to facilitating a supportive business ecosystem by providing streamlined processes for foreign investors navigating the local investment landscape. He expressed confidence that cooperation between the Philippines and Marubeni would open new paths to economic prosperity and mutual benefits.

As Marubeni expands its footprint in sectors ranging from infrastructure to renewable energy, both sides look forward to enhanced economic cooperation and sustainable development initiatives in the Philippines.

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