Philippines Secures $0.3M In Renewable Energy At APEC Summit

Representational image. Credit: Canva




President Ferdinand R. Marcos Jr. played a crucial role in the 2nd Indo-Pacific Economic Framework for Prosperity (IPEF) Leaders’ Meeting held at the George R. Moscone Convention Center in San Francisco, California. Alongside global leaders, he committed to measures preventing supply chain disruptions, promoting green energy, and combating corruption.

During the meeting, the Leaders’ Statement on IPEF was presented, addressing pressing regional issues. The IPEF aims to explore additional initiatives for cooperation and dialogue on mutual interests, emphasizing areas like energy security and technology.

US President Joe Biden, in his address, outlined numerous opportunities to attract private sector investments. Notably, he cited examples such as solar power investments in the Philippines, offshore wind projects in Thailand and Indonesia, and joint investments between the United States and India in energy storage.

In conjunction with these international engagements, President Marcos secured a significant $0.3-million investment in renewable energy during the 30th Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting.

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The renewable energy commitment adds to the $672.3 million in total investment pledges across various sectors, including telecommunications, semiconductors, electronics, pharmaceuticals, healthcare, and artificial intelligence.

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