Australian envoy cites 5 investment focus in Cordillera

By: Philippine Resources May 20, 2024

Australian Ambassador to the Philippines Hae Kyong Yu, in a press conference at the sidelines of the 78th Philippine-Australia Friendship Day celebration in a hotel in Baguio City on Friday afternoon (May 17, 2024). She said the Cordillera Administrative Region (CAR) has the five sectors for potential investment under Australia’s Southeast Asia Economic Strategy namely mining, green energy, food and agriculture, education, and digital economy. (PNA photo by Liza T. Agoot)

The Australian ambassador to the Philippines on Friday cited five possible investment areas in the Cordillera Administrative Region (CAR).

“The Southeast Asia economic strategy, with the Philippines as among the most important countries to Australia, clearly highlights the areas that we think have potential for different kinds of investments and those areas are mining, green energy, food and agriculture, education, and a little bit digital economy,” Ambassador Hae Kyong Yu said during a press conference here.

The envoy, who is in the city for the 78th year Philippine-Australia Friendship Day celebration, said the region has the five growth sectors highlighted in the Southeast Asia Economic Strategy.

“There is no reason why this region cannot attract investors from Australia in those areas. Do you know that you are also a natural resources-rich region,” she added.

Yu pointed out that the Philippines and Australia are actively pursuing how they can turn the mining sector into a significant growth engine while ensuring that it is done sustainably and inclusively.

She said Australian companies are good at mining and they can see a lot of possible potential investments, noting the importance of tapping renewable energy (RE).

“We learned that in Baguio, you get a very small percentage of your renewable energy. That has to change very fast if you are going to save our Earth, our planet. Australia and Australian companies have a great know-how and we are ready to provide much-needed investments to turn things around,” she said.

“These are the things we see, Australia has potential investments in this region,” she said.

The ambassador also mentioned the hand and loom-woven fabric of the Cordillera as a possible export to Australia.

“I love them. Tonight I am going to be wearing one to a reception,” she added. By Liza Agoot


Article courtesy of the Philippine News Agency

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