The Department of Transportation (DOTr) yesterday urged top officials of the European Union-Association of Southeast Asian Nations (EU-Asean) Council and European Chamber of Commerce of the Philippines (ECCP) to invest in big-ticket infrastructure transport projects.
In a statement, Jaime Bautista, DOTr secretary, said the project financing from foreign investors present the most viable option to implement major infrastructure projects due to budgetary constraints.
“The biggest obstacle has always been fund sourcing, considering the strained national budget of our government after coming out of the pandemic,” Bautista explained during informal discussions with officials of the EU-Asean Business Council and ECCP.
“We have offered various infrastructure transport projects to international financial institutions, private investors, and professional associations and industry groups,” he told the delegates.
These projects include the proposed privatization of the operation and management of the country’s premier international gateway, Ninoy Aquino International Airport (NAIA), and the New Manila International Airport investment, according to Bautista.
“Other regional airports across the country are in the pipeline for privatization,” he said.
Last month, the DOTr received a P100-billion proposal to expand and modernize NAIA from the Manila International Airport Consortium. The proposal is currently under evaluation.
Meanwhile, the regional airports in the pipeline include Laguindingan, Bohol-Panglao, Bicol International Airport, Iloilo, Puerto Princesa, Davao, Bacolod and Kalibo airports.
Bautista likewise touted infrastructure projects in various transport sectors such as railways, maritime and road, including the Metro Manila Subway, North-South Commuter Railway, Light Rail Transit line 1 Cavite extension project, Metro Rail Transit (MRT) line 7 and the MRT line 4.
“It’s important because they can assist us in financing the projects through Public-Private Partnership (PPP), so we hope that the investors from their countries can be supportive of the many projects of the DOTr. We have PPP projects for airports, rails and for roads and for maritime,” Bautista said.
