Andreas Carlson, Swedish Minister for Infrastructure and Housing, and Mr. Marcus Wallenberg, a pioneering banker and industrialist, visited Manila to strengthen Sweden’s commitment to long-term collaborations with the Philippines, focusing on sustainable development and digitalization.
Minister Andreas Carlson is leading the Swedish government’s transport, infrastructure, community planning and housing efforts.
Mr. Marcus Wallenberg is a prominent Swedish business leader and a member of the influential Wallenberg family. His contributions span various sectors, including banking, industry, and research. Some of the most important holdings in the Philippines are ABB, AstraZeneca, Atlas Copco, Electrolux, Epiroc, Ericsson, Husqvarna, Nasdaq, Saab AB, and SKF. This is Mr. Wallenberg’s second visit to Manila this year.
Minister Carlson and Mr. Wallenberg met with Finance Secretary Ralph G Recto and participated in the signing of a Memorandum of Understanding on export financing and development cooperation between Sweden and the Philippines. This MOU will enable Swedish grants and export credits for projects in the Philippines.
“Sweden is committed to further increasing its bilateral relationship with the Philippines, not least given the government’s Focus Asia strategy. The economic and strategic links between our regions are undeniable. The signing of this Memorandum of Understanding on export financing represents yet another step in the deepening of cooperation between Sweden and the Philippines,” said Minister Carlson.
“I am proud to take our collaboration to the next level. We entered another agreement that will enhance the economic security of Filipinos through increased access to Swedish financing for our development initiatives,” said Secretary Recto.
“With this partnership, the Philippines will have a greater opportunity to invest in more projects that matter most to our people.
With this broad range of development areas, Sweden is certainly one of the Philippines’ strongest poverty-fighting allies, helping us build an inclusive economy for our citizens,” he adds.
Minister Carlson and Mr. Wallenberg also met with Acting Secretary Ma. Cristina Roque of the Department of Trade and Industry explored trade and investment partnerships between the two countries. Both sides expressed strong support for the recently restarted negotiations on a free trade agreement between the EU and the Philippines.
Minister Carlson and Mr. Wallenberg discussed regional security issues and cooperation in the defense sector with Senior Undersecretary Irineo C. Espino of the Department of National Defense.
Furthermore, Minister Carlson and Mr. Wallenberg met with several business leaders in the country to explore partnerships in areas such as transportation, digitalization, health, and responsible mining.
Joined by a business delegation, Minister Carlson paid a visit to Secretary Ivan Uy of the Department of Information and Communication Technology and discussed possibilities for cooperation on digitalization in the Philippines.