Philippine President Ferdinand Marcos Jr, GIP tackle investment plan in energy, transportation, digitization

2023 May 6

POTENTIAL INVESTMENTS. President Ferdinand R. Marcos Jr. (center) meets with New York-based Global Infrastructure Partners (GIP) in London on Saturday (May 6, 2023, Manila time) to explore possible partnerships aimed at improving the Philippines’ energy and transportation industries and realizing the country’s full digitalization. Marcos is in London to witness the Grand Coronation of Britain’s King Charles III. (Photo courtesy of the Office of the President)

MANILA – President Ferdinand R. Marcos Jr. met with New York-based Global Infrastructure Partners (GIP) to discuss potential investments in the energy and transportation sectors and the Philippines’ digital transformation bid.

Currently in London, Marcos on Saturday shared on his official Facebook account several photos of his meeting with GIP executives led by chairperson Bayo Ogunlesi.

The Office of the President (OP) said Marcos and the GIP officials discussed plans to explore opportunities for the upgrade of the Philippines’ infrastructure sector.

“During the meeting, GIP expressed its commitment to investing in the priorities of the PBBM administration, including improving transportation system efficiency, increasing renewable energy production, and advancing digital transformation,” the OP said.

Founded in 2006, GIP is a leading global independent equity firm that manages USD87 billion in assets on behalf of its investor base.

GIP targets to invest in industries, such as energy, transportation, digital, and water infrastructure. It works in partnership with public sector co-investors and stakeholders to deliver infrastructure improvements.

The meeting with GIP executives was held after Marcos’ quick tour of London’s Gatwick Airport to learn about its best practices, which could be applied to Philippine airports’ operations.

France-based VINCI Airports owns a 50.01 percent stake in Gatwick Airport, while the GIP manages the remaining 49.99 percent interest.

‘Comprehensive’ tour

The President flew to London to attend the historic coronation of Britain’s King Charles III on Saturday.

Marcos said he had a “comprehensive” tour of Gatwick Airport’s facilities and got “valuable insights” into the development of Philippine airports.

“We made the most of our time at Gatwick Airport, meeting with its executives and taking a comprehensive tour. We gathered valuable insights to improve Philippine airports and boost tourism at home,” he said.

Marcos is keen on knowing the “best practices of its airport operations and seeing new technological advancements in the North Terminal,” the OP said.

Gatwick Airport is the United Kingdom’s second-largest airport and is a vital piece of national infrastructure that helps drive both the regional and national economy.

More than 40 airlines fly from the airport to more than 150 short-haul and more than 45 long-haul destinations.

Focused on rebuilding and growing sustainably in the long term, Gatwick Airport aims to become a “net zero airport by 2030 and increase capacity by bringing its Northern runway into routine use.”

Ruth Abbey Gita-Carlos (PNA)