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BCDA signs major investment accords in PBBM Australia Trip

President Marcos secures P86-billion in investments during his visit to Australia. BCDA President Jake Bingcang (extreme right, standing) after signing one of the accords. He was joined in the trip by Sec. Frederick Go, (seated, extreme right) investments amd economic affairs czar of PBBM. Also in photo are Finance Secretary Ralph Recto, House Speaker Ferdinand Martin Romualdez and DTI Secretary Alfredo Pascual.

The Bases Conversion Development Authority (BCDA) on Monday topbilled the newly secured US$1.53 billion or PhP86 billion investment from 12 business deals signed during the Philippine Business Forum on the sidelines of his participation to the ASEAN-Australia Special Summit in Melbourne.

The Presdential Communications Operations Office said that the 12 business deals consist of 10 memoranda of understanding (MOUs) between Filipino and Australian business leaders and two letters of intent (LOIs) from Australian business leaders who intend to invest in the Philippines.

The accords were signed during the visit of President Ferdinand Marcos to Australia. BCDA President Jake Bingcang was part of the delegation, together with Sec. Frederick Go, Special Assistant to the President for Investment and Economic Affairs.

Among the MOUs are the development, design, construction, commissioning and funding of a Tier-3 Data Center with a capacity of 30MW-40MW in the Poro Point Freeport Zone with a land area of approximately 16 hectares; and Expansion of Next-Generation Battery Manufacturing in the Philippines.

An MOU was also signed for the deployment of decarbonization solutions comprising orchestration of renewable energy, storage, and e-mobility to New Clark City Stadium and other BCDA sites to reduce energy costs, reliance on grid power, improve sustainability and achieve progress on decarbonization journey.

An MOU on the Collaborative Partnership on the Development of an Electric Transportation Framework throughout the properties associated with BCDA in the Philippines was also signed along with the Pambansang Pabahay para sa Pilipino (4PH)/ Countryside Housing Initiatives (CHI) though the Department of Human Settlements and Urban Development (DHSUD).

The deals were announced by Department of Trade and Investment (DTI) Secretary Alfredo Pascual on Monday. He said the business deals are poised to drive the investment relationships between the Philippines and Australia, and contribute to Philippine economic growth.

The new investments amd accords were also posted in the “Bongbong Marcos” the FB page of the President.