The Department of Transportation (DOTr) has asked Italian firms to participate in the bidding of several big-ticket infrastructure projects.
During the Italian Trade Mission in Manila on Tuesday, DOTr Secretary Jaime Bautista invited Italian businessmen to cast their stake in the Philippines by investing in its big transport projects, making the country a profitable investment hub and a promising gateway to the Asian region.
Bautista pitched several big-ticket infrastructure projects under the DOTr in which Italian businessmen can commit their investments and resources.
Bautista urged the Italian delegation to discover the vast transport infrastructure potential of the Philippines.
“This trade mission comes when the Philippines is positioning itself as a lucrative investment destination and an auspicious gateway to Asia,” said Bautista.
He said the trade mission reopens rich opportunities, not just for businesses, but also investment prospects for transportation infrastructure projects while enhancing connectivity and mobility that are seen to hasten and boost economic growth.
“A lot of airport, railway, seaport, and road infrastructure projects have been initiated and we are on track to complete them within the coming years,” Bautista told the delegation.
Citing the massive North-South Commuter Railway (NSCR) as an example, Bautista assured the delegation that transport projects would be highly favorable to investors, with the participation of Italian companies in various infrastructures.
“We are determined to build on our gains as the resurgence of the Philippines is fast becoming a tangible reality,” he said.
The mission was participated in by over 20 prominent Italian companies.
Meanwhile, DOTr said has tapped the Asian Department Bank as an advisor to fast-track the privatization of the country’s first underground railway, Metro Manila Subway Project (MMSP), as well as the modernization and capacity expansion of Ninoy Aquino International Airport (NAIA) and bundled regional airports.
The P488.5-billion MMSP is targeted to be completed by 2028. The 31.1-kilometer underground metro system will transverse Metro Manila from Valenzuela City to Parañaque City, with a connection to NAIA Terminal 3 and will interoperate with NSCR from Bicutan to Calamba.
