FINANCE Secretary Ralph G. Recto met with representatives from the financial group Skandinaviska Enskilda Banken and defense and security company Saab to discuss potential defense ventures, the Department of Finance said.
“The investors expressed particular interest in bolstering the Philippines’ defense industry, drawing upon Sweden’s track record in enhancing defense capabilities in countries like Brazil and Thailand, which not only fosters long-term competence but also stimulates domestic job creation,” it said.
Brazil and Thailand are operators of the Saab-produced JAS 39 Gripen, an advanced 4th generation jet fighter aircraft.
The Swedish delegation also noted their country’s admission to the North Atlantic Treaty Organization, which presents “significant opportunities for Swedish arms manufacturers to contribute to the modernization of Philippine defense capabilities.”
The talks also covered pharmaceuticals, financial solutions, green projects, and public-private partnerships.
Mr. Recto invited the investors to explore infrastructure projects.
The infrastructure flagship program has 185 projects worth P9.14 trillion. These projects include transportation, energy, water resources, and social infrastructure works. — Luisa Maria Jacinta C. Jocson
