The Department of Finance (DOF) is eyeing a collaboration with Japan’s Sumitomo Mitsui Banking Corp. (SMBC) for upcoming government borrowing activities.
The DOF said in a social media post Secretary Ralph Recto met with senior officials of SMBC and SMBC Nikko on June 21, 2024 at their Tokyo headquarters to explore opportunities for investments and collaboration on fundraising activities.
SMBC is a leading Japanese bank, and SMBC Nikko is a top Japanese securities firm that engages in the operation of large-scale comprehensive securities broking and trading services.
SMBC supported the Philippines’ international financing efforts, including past Samurai bond issuances and co-hosting of Philippine economic briefings in Japan such as the recent event on June 21.
“Moreover, they expressed eagerness to support the country’s future issuances of Samurai and US dollar bonds and reaffirmed SMBC’s commitment to continue investing in the Philippines,” the DOF said.
Recto also met with senior officials of Nomura on June 20, 2024 in Tokyo to explore opportunities for collaboration in the country’s fundraising activities and public-private partnerships (PPPs).
He encouraged Nomura to participate in the government’s Build Better More program consisting of big-ticket infrastructure projects open for PPPs, noting that private sector participation is now made easier and faster through the PPP Code.
“Nomura showed strong interest in supporting the country’s infrastructure projects, renewable energy market, and sustainability programs,” the DOF said.
“The firm also expressed eagerness in supporting the Philippines’ future issuances of Samurai bonds,” it said.
Nomura is a global financial services group that offers solutions in retail, wholesale and asset management.
It has supported the Philippines’ international financing efforts by assisting its past Samurai bond issuances and co-hosting Philippine economic briefings in Japan on June 21, 2024.
