The Department of Finance (DOF) and the Japan Bank for International Cooperation (JBIC) have renewed their strategic partnership to unlock more energy and infrastructure investments in the Philippines through the signing of a memorandum on strategic cooperation.

Finance Secretary Frederick Go and JBIC Governor Amakawa Kazuhiko led the signing of the Memorandum of Cooperation, which will strengthen coordination between the two parties to support the Philippines’ infrastructure development programs, including public-private partnership (PPP) projects across various sectors.

''Our renewed cooperation comes at an important time. For our economy to remain competitive, we need reliable energy, efficient infrastructure, and resilient supply chains. These are essential to managing business costs, attracting investment, and sustaining growth,” Go said.

The Memorandum of Cooperation (MOC) will be valid for three years from its execution and will cover supply chain resilience, clean energy transition, financial cooperation, and the promotion of Japanese foreign direct investment (FDI) in the Philippines.

Go also spotlighted the Luzon Economic Corridor (LEC) as a key opportunity to improve connectivity among Subic, Clark, and Batangas. Better connectivity will help move goods more efficiently, lower logistics costs, attract investors, and generate jobs.

The cooperation will likewise support efforts under the Asian Zero Emission Community (AZEC) to advance decarbonization projects and attract investments in cleaner energy, while supporting the country’s energy transition.

Go underscored the importance of partnerships in mobilizing the capital and expertise needed to turn development priorities into concrete projects, noting JBIC’s ability to bring these together.

“We view this MOC as an important first step for deeper cooperation. I understand that our respective teams have already begun exploring specific opportunities in several promising areas. Building on this MOC, JBIC’s goal is to further strengthen its collaboration with the Department of Finance and public and private sectors in the Philippines,” Amakawa said. DOF Information Management Service