FlorCruz: Chinese wind power firm wants to invest in PHL

tion of plans and benchmarking on the best practices around the globe to improve the country’s plans and designs,” Palafox said.

“ By implementing several programs assisting and nurturing the country’s startup ecosystem through the Digital Startup Development and Acceleration Program under the auspices of DICT’s Industry Development Bureau, we made it a priority by creating a portfolio for ICT Industry Development handled by Undersecretary Jocelle Batapa-Sigue,” he said.

T he PBC&E will be held on October 25 and 26, 2023 at The Manila Hotel, organized by the Philippine Chamber of Commerce and Industry (PCCI).

Palafox, who was involved in crafting the Philippine Development Plan (2023-2028) said that the initial step to take is ensure the effective implementation of the 5-year PDP plan.

He added that, “the Philippines’ strategic location, natural resources,

T ina Amper, co-founder and adviser of GeeksPh, told journalists online that angel investors with incubation companies have already identified the Philippines’s major source and potential of producing major startups. “We’re hoping that in the next few years we could probably push a few unicorns. That would really depend on the results of our collaboration with the industry and our partners identifying several of these potential startups,” Uy said. U y, a law graduate from the Uni -

Moreover, the architect said the fundamental key to maximizing benefits and returns from these resources are education or lifelong learning for the country’s human capital and demographic sweet spot, infrastructure to build on its strategic location and natural resources, and governance to fuel investments in key industries such as agriculture, mining and mineral resources, travel and tourism, manufacturing and information technology-business process management.

Leading the country to global excellence can be made possible through the effective implementa- versity of the Philippines, said he is set to leave at the end of the month to attend the World Economic Forum (WEF) in Tianjin, China in identifying the new digital champions. “The Philippines has been asked by the WEF to help provide and identify potential new digital champions that will become possible unicorns and digital unicorns.

“ We’re working on that and we have also identified potential unicorns. That would be a good opportunity in the forum because a lot of angel investors would be there with support, experience and mentorship available to help our startups. It would be good for the startups to be exposed because they would be identified by the potential investors and how they pitch some of their ideas in the initiatives,” Uy pointed out.

He also cited the strong collaboration between government, the private sector, and civil society and with five efficient, effective, visionary, and action-driven Presidents and administrations.

The country could achieve its goals to join the list of first-world countries by 2040 and rank as one of the top 20 economies by 2050,” Palafox added.

Meanwhile, this year’s conference will gather thought leaders, policymakers, national and LGU executives, top business leaders, and international leaders to share insights geared toward achieving the 2050 vision.

To bolster the government’s digitalization program, Uy said the DICT would be closely working with the legislators in the upcoming budget deliberations to get more support and funding for its digitalization programs. Uy said he is optimistic the DICT will get the needed support as many legislators are digital natives who believe in the potential of the startups as engines of growth.

G OAB 2023 will offer plenary sessions exploring potential investment opportunities and breakout sessions that will focus on sector-specific topics like FinTech EduTech, HealthTech, AgriTech, and ClimateTech and other category-specific themes centered around youth and women. Moreover, the event will also feature emerging technologies discussion, pitching business matching, investors’ roundtable, and exhibits from other various stakeholders.

By Malou Talosig-Bartolome @maloutalosig

ABIG Chinese wind power company is interested in investing in the Philippines, Jaime FlorCruz, the new Philippine Ambassador to Beijing said.

F lorCruz said he recently met the chief executive officer of Dajin Heavy Industry, the world’s largest maker of wind turbine towers and structural products for offshore wind power projects.

He said Dajin is interested in looking into setting up manufacturing plants in the Philippines.

“ They are looking for a place. They need a big area. They wish to set it up close to a port so that they can export, they can ship the products, the base of wind power equipment, overseas,” FlorCruz said in a virtual forum organized by a group of Filipino-Chinese business people.

“ They are very interested to invest in the Philippines and move part of its operations there,” he added.

Dajin’s chairman of the board, Jin Xin, had participated in the Sino-Philippine Renewable Energy Roundtable Business Meeting during the state visit of President Ferdinand R. Marcos Jr. in Beijing last January.

I n 2022, Dajin delivered wind energy products and services to the Philippines worth 150 million RMB (P1.1 billion).

T he Philippine ambassador said he also met with executives from China Power International Development and BYD, China’s equivalent of Tesla which makes electric vehicles, who are “looking for opportunities” in the Philippines.

T he country has allowed 100-percent foreign investments in renewable energy in its bid to attain a 35-percent share of renewable energy in the country’s energy mix by 2030 and 50 percent by 2040.

I n allaying concerns of uniformed personnel regarding possible “co-mingling” of funds, Finance Undersecretary Maria Luwalhati C. Dorotan Tiuseco explained that they would still be MUP pensioners and not GSIS pensioners.

T he DOF noted that the MUP fund will just be managed by the GSIS and shall “remain strictly independent” from the pension of civilian government workers.

“ Napaganda po ng track record nila [the GSIS]. Ang mission po ng GSIS ay papalaguin nila ang pondo ng fund. Pero hindi po kayo magiging GSIS pensioner, MUP pensioner pa rin po kayo,” Tiuseco said.

(GSIS has a good track record. The mission of GSIS is to grow the value of the fund. But you will not be a GSIS pensioner, you will remain as a MUP pensioner.)

One of our goals is to make the pension fund sustainable to be able to make fiscal space for additional government support programs tulad ng housing, and better health and medical programs,” she said.

L ast week, finance officials announced in a statement that government’s economists are introducing changes to proposed reforms in the pension of military and uniformed personnel following a meeting with defense and security officials. (Related story: https:// businessmirror .com.ph/2023/06/05/ dof-offers-3-options-in-pensionof-mups/) Jasper Emmanuel Y. Arcalas