Recto to Australian investors: PH has rolled out the red carpet and reserved the best seat for you to join us in shaping our blockbuster growth story

Finance Secretary Ralph G. Recto has invited Australian investors to be part of the Philippines’ ‘blockbuster’ growth story, emphasizing that the country has rolled out the red carpet and reserved the best seat for them during the Philippine Business Forum in Melbourne, Australia.

“This is an exciting opportunity that Australian investors should certainly not miss out on,” he told around 100 Australian business and investment leaders and government officials during his speech on March 4, 2024 at the Ritz Carlton in Melbourne, Australia.

Secretary Recto laid out that the Department of Finance (DOF) has a comprehensive plan to drive investments-led growth through its Growth-Enhancing Actions and Resolutions (GEARs), which works in tandem with the government’s fiscal consolidation plan––the Medium-Term Fiscal Framework (MTFF).

“A key aspect of this strategy is welcoming investors with open arms to achieve investments-led growth through improvements in the regulatory regime, reduction in the cost of doing business, and addressing constraints,” he said.

The Finance Chief emphasized that President Ferdinand Marcos Jr.’s swift enactment of the Public-Private Partnership (PPP) Code of the Philippines is a resounding testament to the government’s commitment to fostering stronger collaboration with the private sector.

Signed into law on December 5, 2023, the PPP Code offers a stable, predictable, and competitive environment where high-quality PPP investments can thrive.

It leverages over three decades of experience with the Build-Operate-Transfer (BOT) Law and integrates best practices to streamline processes, reduce transaction costs, and enhance the ease of doing business for PPPs.

Secretary Recto urged Australian investors to invest in the country’s flagship infrastructure projects primed and ready for PPP investments under the President’s Build Better More program.

The program features 185 big-ticket infrastructure projects worth PHP 9.14 trillion (about USD 163 billion) ranging from power, physical connectivity, rural development, water resources, digitalization, sustainable initiatives, and healthcare.

The Finance Secretary said the government’s swift approval of the