US infra giant reaffirms confidence in PH amid flood works probe

MANILA – Global infrastructure investment firm I Squared Capital has reaffirmed its strong confidence in the Philippines and commitment to continue investing in the country’s infrastructure sector, Malacañang said Thursday.

In a meeting with President Ferdinand R. Marcos Jr. at Malacañang Palace, I Squared Capital Founder and Chairman Dr. Sadek Wahba commended the administration’s reforms that have strengthened the country’s investment climate, noting that the Philippines remains an attractive destination for long-term infrastructure growth.

“The firm reaffirmed its strong confidence in the Philippines and its continued commitment to invest in the country’s infrastructure,” the Presidential Communications Office (PCO) said in a social media post.

“Dr. Wahba also recognized the administration’s reforms that have strengthened the investment climate,” it added.

The PCO added that the recently expanded Royal Cold Storage facility in Bulacan stands as a clear example of I Squared’s ongoing investments in the country.

With over USD2 billion invested across key sectors, the firm remains one of the Philippines’ largest foreign investors, supporting the Marcos administration’s efforts to boost the economy, improve logistics and generate more jobs.

I Squared Capital is an American private equity firm focusing on global infrastructure investments. The firm invests in energy, utilities, transport and telecom projects in Asia, Europe, and the Americas.

Its renewed confidence comes as the government works to reassure investors amid the ongoing probe into alleged irregularities in multi-billion flood control projects — a controversy that critics claim has shaken business confidence.

Marcos earlier emphasized that the administration’s anti-corruption drive will continue no matter how “hard or painful” it might be. (PNA)