May 8 - 21, 2017
Jan. 22-Feb.7, 2015
Philippine Showbiz Today
Export Development Canada wants to see
more business with Philippines
b u s i n e s s
development
William Brown
said EDC was
anticipating
more Canadian
businesses
wanting to invest
and sell more
products
to
the Philippines
as
Canadian
exporters and
investors seek
opportunities
William Brown of Export Development Canada
in
emerging
Canada wants a bigger piece
markets.
of the Philippine growth story as
The domestic sectors that
its export credit agency Export EDC is most bullish about include
Development
Canada
(EDC) food processing, clean technology,
seeks more opportunities to fund pulp and paper, information and
infrastructure projects and other key communications technology and
industries.
aerospace-related industries.
Canada
is
looking
at
EDC also expects to play a bigger
opportunities as the Philippines has role in the country’s infrastructure
been receiving offers of development sector given President Duterte’s
funding from other countries such as ambition to bring the Philippines to a
China and Japan.
golden age of infrastructure.
As an export credit agency,
“EDC’s funding is disbursed
EDC focuses on providing financial according to customer needs and
services to companies that buy from opportunities for trade between
Canadian companies or those that Canada and the Philippines. EDC can
have Canadian supply and services be a valuable resource to Philippine
in their corporate value chain.
corporations in the infrastructure
Funds from EDC can be used sector by providing financing
for capital expenditure or project and introducing them to leading
finance requirements, either through Canadian infrastructure companies,”
bilateral or syndicated corporate Brown said.
facilities.
“Rail, clean technology and
EDC has been present in power are all key industries that EDC
Southeast Asia for a long time and Canada can contribute to in the
through a representative office in Philippines. We also have in-depth
Singapore since 2007.
experience in financing PPP (public-
In an e-mail interview with the private partnership) projects. This
Philippine Daily Inquirer, EDC regional will augur well with the President’s
vice president for Asia international agenda in bringing more private
capital to support infrastructure
development in the Philippines using
the PPP model,” he said.
As funding from Asian
economic giants like China and
Japan flow more abundantly to
the Philippines, Brown said EDC—
being “one of the most progressive
export credit agencies”—had many
competitive advantages compared
to other financiers.
“EDC’s strong capital position
means that it can handle transactions
of all sizes, from the very large to
the small, f or companies in support
of transactions involving Canadian
supply or services. We also like to
partner with other commercial banks
on their syndicated financing facilities
to grow the reach of our support,”
Brown said.
Brown said that apart from
offering innovative and reliable
financing, what would set EDC apart
from other financiers was that it
could serve as a supply-chain talent
scout. “This unique EDC key value
proposition means that EDC helps
companies in the Philippines reduce
costs and
increase
efficiency
a
n
d
innovation
b
y
introducing
them
to
Canadian
companies
with
the
e x a c t
capabilities
they need
or
want.
Canadian
companies
7
are renowned for their world-class
technology and services, which is an
attractive feature for foreign buyers,”
he said.
Brown said this meant that
EDC could now bring its global-
scale financing business closer
to projects and companies in
Southeast Asia and the Philippines
by processing transactions in real
Asia time, eliminating the previous
12-hour delay to connect back to the
financing teams in Canada.
“EDC’s financing is now
offered more quickly and effectively,
which will significantly benefit both
Canadian companies operating in
the Philippines as well as Philippine
companies seeking financing,” he
said.
EDC recently opened a branch
in Singapore to function as its
financing hub in Asia.
EDC also recently opened
a representative office in Jakarta,
Indonesia, to complement EDC’s
other representative offices in Asia:
Mumbai, Delhi, Shanghai and
Beijing. ●