Marcos secures P4.7-B investment from Unilever

Marcos thanked the British company for its strong commitment to the Philippines, saying it was good to see that Unilever is continuing with that trend over the years. (File photo: Office of the President/Facebook)

MANILA – President Ferdinand R. Marcos Jr. on Wednesday secured a PHP4.7 billion investment from multinational consumer goods company Unilever.

In a press release, Malacañang said the deal was secured during a meeting between Marcos and officials of Unilever on the sidelines of the Association of Southeast Asian Nations-European Union (ASEAN-EU) Commemorative Summit in Brussels, Belgium.

Marcos thanked the British company for its strong commitment to the Philippines, saying it was good to see that Unilever is continuing with that trend over the years.

“I think that we have a good opportunity with some of the policy measures that have been taken from the previous administration and some of the policy changes that we have made at the beginning of this administration,” Marcos told Unilever officials at the Sofitel Brussels Europe Hotel.

Among these policy changes are the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law, which will allow companies to provide competitive incentives and the removal of foreign ownership restrictions on undertakings aimed at harnessing renewable sources of energy that had been previously capped at 40 percent is another policy change

The President said forging strong partnerships is one of the centerpieces of the administration’s policies, focusing more on public-private partnerships (PPPs), joint ventures and all kinds of tie-ups to encourage investment in the Philippines.

He said he wanted to have a meeting with Unilever officials to listen to them and assess policy directions to make investment easier for the company.

Unilever Leadership Executive member and Business Group President Ice Cream Matt Close, for his part, described the multibillion-peso investment as “proof of their commitment to the Philippines, which they consider as one of Unilever’s important locations for investments.”

“Unilever officials said that in the last three years, they invested heavily in their Philippine factories, with an eye on using renewable energy and ensuring sustainability,” the press release read.

Despite issues on energy and labor, Unilever said it would recoup through automation and digital transformation, where Filipinos excel.

Invest in PH

Aside from Unilever, Marcos also met with business leaders from other European-based companies namely Ocea, Acciona and Semmaris.

Ocea is a French multinational company that specializes in maritime safety, security and navigation as well as shipbuilding and integrated logistics support.

“The company plans to develop a shipyard in the Philippines with an investment of PHP1.5 billion which is expected to create 500 to 600 direct and indirect jobs,” according to Radio Television Malacañang (RTVM) on its official Facebook page.

Marcos is also eyeing potential investments in the energy sector with Acciona, a Spanish multinational firm specializing in the development and management of infrastructure and renewable energy.

The company is behind the construction of the Cebu-Cordova Link Expressway (CCLEX) linking mainland Cebu to Mactan Island. The infrastructure project became an iconic landmark in the area.

Semmaris is a France-based company that manages the Rungis International Market, the world’s largest fresh produce market located in Paris, France.

The company also ensures the development, commercialization and promotion of the Market’s infrastructure, as well as the security of its tenants.

“As a logistics hub management company, Semmaris plans to develop an agro-logistics service in New Clark City, Tarlac that will build and operate a wholesale market for fresh products with an organized and efficient food supply and value chain,” RTVM said.

After meeting with business executives, Marcos is scheduled to participate in the ASEAN-EU Commemorative Summit where he is expected to speak on several occasions at the plenary.

He will also be joining European Council President Charles Michel, European Commission President Ursula von der Leyen and Prime Minister Hun Sen of Cambodia in a press conference after the Summit proper.