President Ferdinand R. Marcos Jr. of the Philippines secured a commitment from Australia’s Macquarie Group Ltd. to invest in renewable energy, value-added mining, and digitalization during the ASEAN-Australia Special Summit in Melbourne. Macquarie Group’s Managing Director and CEO, Shemara Wikramanayake, expressed excitement about the prospects, highlighting the interest in the Philippines due to its young and growing population.
Wikramanayake discussed Macquarie’s interests in energy transition, mining, and the digitalization process with President Marcos. The group aims to partner with Southeast Asian countries like the Philippines to contribute to pension savers’ investments in infrastructure and other sectors. President Marcos welcomed the commitment, emphasizing the importance of digitization for ease of doing business.
Macquarie Group Limited, with over 15 years of operation in the Philippines, has more than 1,000 direct employees through Macquarie Offshore Services. In 2012, Macquarie managed the first and largest infrastructure fund for the Philippines, and in 2017-2018, it acquired a majority stake in the Energy Development Corporation, the country’s largest renewable energy company.
President Marcos expressed openness to further exploration of collaboration with Macquarie Group, emphasizing its potential contribution to the economic development of the Philippines, particularly in digitalization.
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