S’pore firms urged to invest in Phl infra sector

MANILA, Philippines - The government has encouraged firms in Singapore to consider opportunities in the Philippine infrastructure sector.

Trade Undersecretary Ponciano Manalo Jr. told reporters he was in Singapore late last month for an infrastructure road show organized by the Makati Business Club and Philippine British Business Council.

“We pushed for infrastructure (during the event),” he said.

While there were no deals yet from the event, he said Singaporean companies were interested to know more about business opportunities in the country.

During the event, Philippine government officials presented opportunities in  the  infrastructure sector, particularly projects under the flagship Public Private Partnership (PPP) program.

The government also encouraged investments in other infrastructure projects including roads, railways, airports, water and healthcare.

Eight PPP projects have been awarded by the government so far.

These projects are the Daang Hari - South Luzon expressway link road, PPP for School Infrastructure Project (PSIP) Phase 1, the PSIP Phase 2, the modernization project

for the Philippine Orthopedic Center, the Ninoy Aquino International Airport expressway, the automated fare collection system project, the Mactan Cebu inter-national airport expansion project and Light Rail Transit (LRT) Line 1 Cavite extension and operation and maintenance.

At present, the following PPP projects are under procurement: Bulacan Bulk Water Supply project, Integrated Transport System project – South and Southwest Terminals, Laguna Lakeshore Expressway Dike project and Operation and Maintenance of LRT Line 2.

During President Aquino’s recent trip to Europe, the government also invited firms to make investments in the infrastructure sector.

The government wants to attract more investments in infrastructure in line with its aim to achieve sustained economic growth.

Under the Philippine Development Plan, the government wants to increase infrastructure spending to five percent of gross domestic product (GDP) in a bid to improve the country’s investment climate and competitiveness.