Philippine President Ferdinand Marcos Jr. announces the elevation of Philippines-Canada bilateral relations to a Strategic Partnership following his meeting with Canadian Prime Minister Mark Carney in Vancouver, Canada, on July 2. (PNA/Ruth Abbey Gita-Carlos)
Philippine President Ferdinand Marcos Jr. concluded his four-day visit to Canada on July 4, bringing home crucial investment pledges.
Upon his arrival, President Marcos attended an official welcome hosted by the Canadian Prime Minister Mark Carney at the Vancouver Convention Centre, where they held a tête-à-tête to discuss trade, defence, energy and labour mobility. In the end, both parties co-signed agreements elevating ties to a Strategic Partnership.
Manila ended up securing an investment worth 14 million US dollar from Canadian mining firm BSGold Corp., with a plan to expand the existing Masbate Gold Project solar plant, as well as fund new mineral exploration. Discussions also centred on upgrading corporate social responsibility (CSR) frameworks to guarantee that mining projects foster inclusive growth in host communities.
Additionally, President Marcos spotlighted the Philippines’ abundant nickel and copper resources, framing them as vital pieces of the global digital and clean energy supply chains to attract value-added processing investments.
Echoing the sentiment, Philippine Secretary of Trade and Industry Cristina Roque noted the importance of bolstering “like-minded economies” such as Canada. “In the face of global uncertainties that constantly reshape modern trade, pursuing economic diversification and stability has become a shared priority for our industries,” she added.
Secretary Roque further highlighted extensive opportunities for Canadian companies across the entire supply chain, spanning exploration, extraction, engineering, processing, sustainability and clean technology. She emphasised that the Philippine government is actively rolling out regulatory reforms to enhance its investment environment, pointing to key legislative frameworks such as the CREATE MORE Act, the Public-Private Partnership Code and Executive Order 18, which fast-tracks strategic investments through dedicated green lanes.
What does this mean for business?
The Philippines is rebounding from its recent economic slowdown caused by the global Hormuz maritime disruptions. Securing this capital injection from B2Gold Corp. signals a major turning point, anchoring the nation’s transition toward sustainable downstream processing. This strategic alignment offers foreign enterprises a de-risked opportunity to secure vital components for green technology while mitigating geopolitical volatility.
Concurrently, legislative reforms (including the CREATE MORE Act and Executive Order 18) reduce bureaucratic barriers and provide fiscal incentives, yet successful entry hinges on adhering to robust environmental and social governance (ESG) standards for local, inclusive growth. While navigating high energy costs and community relations remains essential, the improved regulatory framework presents a significant opportunity for global engineering and clean-tech firms, particularly those focusing on advanced, sustainable infrastructure.
Kala Advisory helps investors move on openings like these, from critical minerals to clean-tech infrastructure, across Southeast Asia. Visit kala-advisory.com.
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