THE Department of Finance (DoF) said it and US investment firm Kohlberg Kravis Roberts (KKR) and Co., Inc. are exploring opportunities to finance Luzon Economic Corridor projects.
In a statement on Monday, the DoF said KKR & Co., Inc. expressed interest in an Oct. 8 meeting in expanding its investment portfolio in the Philippines.
“Through strategic reforms aimed to streamline ease of doing business, we are committed to attract more partnerships to strengthen key industries and bolster our position as a top investment destination in the region,” Finance Undersecretary Ma. Angela E. Ignacio said.
KKR & Co., Inc. manages around $750 billion in assets across private equity, infrastructure, credit, and real assets.
In the Philippines, KKR has deployed more than $2 billion in digital finance, infrastructure and essential services investments.
“The KKR Global Institute has pushed coming into the Philippines way back. The macro circumstances were such that we felt we should get in here. This is a young country, has grown fast, and needs infrastructure and other financing to do well,” KKR Partner and Chairman David H. Petraeus was quoted as saying.
According to the DoF, the KKR delegation said Philippine opportunities lie in financial technology, healthcare, energy, telecommunications infrastructure, education, semiconductors, advanced manufacturing, critical minerals, logistics, and digital infrastructure.
“They likewise emphasized the importance of sustained investment in human capital development, infrastructure, and policies that will be crucial in securing more long-term financing opportunities for the country,” the DoF added. — Justine Irish D. Tabile