Department of Transportation Secretary (DOTr) Secretary Jaime J. Bautista urged Italian companies and investors to consider funding transport projects in the Philippines amid the government’s efforts to improve the mass transportation in the country.
During the high-level ASEAN-Italy Economic Relations meeting, Bautista explained that investing in Philippine transport projects is an ideal sector for business growth.
“We are presenting these projects to you, hoping Italian business leaders and company owners would consider the investment viability of our transport infrastructures,” said Bautista.
The Philippine government has been aggressively pitching the modernization and improvement of the mass transportation system, including a subway system in Metro Manila and a train system that connects provinces in Luzon.
Amid budgetary constraints, the national government is opting to undergo Public-Private Partnership (PPP) scheme for more transportation projects.
“We prefer to implement projects by partnering with the private sector through a PPP arrangement. To overcome budgetary constraints, we turn to private investors or international financial institutions or foreign governments,” said Bautista.
Among the countries that have bankrolled DOTr projects include Japan, the United States, the United Kingdom, China, South Korea, Singapore, Belgium, and Switzerland, among others.