MANILA, Philippines - The government pitched $12.28 billion or P550 billion worth of infrastructure projects to Japanese investors in Tokyo last Wednesday.
Thirteen infrastructure projects were presented at a forum attended by over 400 Japanese fund managers, investors, and government representatives.
These projects include the $3.93-billion North-South Railway project and the $3- billion Mass Transit System Loop, New Centennial Water Supply Source ($416 million); Enhanced Operation & Maintenance (O&M) of Panglao Airport in Bohol ($52 million); O&M of Laguindingan Airport ($353.8 million); O&M of Puerto Princesa Airport ($116.2 million); O&M of Davao Airport ($901.6 million); O&M of Bacolod Airport ($450.2 million); O&M of Ilo-Ilo Airport ($675.6 million);Davao Sasa Port ($377.8 million); Regional Prison Facilities ($1.115 billion); Motor Vehicle Inspection System ($428.9 million); and the San Fernando Airport ($464 million.
These projects will be rolled out in the next 12 months under the PPP program aimed at attracting more foreign investments and sustaining the growth of the economy.
Also in the pipeline are Manila Bay-Pasig River-Laguna Lake Ferry System; Batangas-Manila Natural Gas Pipeline; and LRT Line 1 Dasmariñas Extension.
The Philippine economic team likewise showcased energy-exploration opportunities across the Philippines, income potentials in tourism, and financial instruments offered by the Philippine Stock Exchange.
“The Philippines is looking north to Japan, and hopes that Japan will look south to the Philippines,” Finance Secretary Cesar Purisima said in a statement.
“The Japanese and Filipino economies are heavily complementary; Japan has an abundance of investible capital and manufacturing prowess while the Philippines has a young and talented labor force,” he added.
The roadshow, which was held at the Shangri-La Hotel in Tokyo, was attended by over 400 Japanese fund managers, investors, and government representatives.
Public Works and Highways Secretary Rogelio Singson said the Philippine government is keen on partnering with Japanese organizations in various areas of public works, including construction, technical support services, and consultancy.
Singson said the government targets to have all national roads, estimated at about 32,000 kilometers, paved by 2016. At present, 83 percent of these roads have been paved.
Tourism Secretary Ramon Jimenez Jr., for his part, promoted the Philippine tourism sector, noting the expected 50,000 room gap by 2016.
Jimenez said the government offers fiscal and non-fiscal incentives to businesses engaged in primary tourism activities, including tourist transport services, hotels and other forms of accommodation, convention and exhibition facilities, eco-tourism sites and theme parks, health and medical tourism facilities, and tourism training centers, among others.