DTI peddles infra projects to US business delegation

MANILA, Philippines - The Department of Trade and Industry (DTI) is hoping to woo more foreign investors to invest in the country’s infrastructure projects, particularly those being offered under the public–private partnership (PPP) program.

Trade Undersecretary Ponciano Manalo Jr. said the infrastructure investments were primarily pushed to the delegation members of the economic mission from San Diego, California during a recent investment briefing.

The 11-member delegation came from various sectors such as US government, business development advisory and consultancy firms, and private companies.

The delegation members were informed the Philippines is eyeing to increase its infrastructure spending from 2.5 percent to five percent of the country’s gross domestic product by 2016, Manalo said.

Manalo pointed out infrastructure investments do not only include roads and bridges but also schools, hospitals and prisons.

He said there are a lot of investment opportunities in the country’s PPP program which investors can participate in.

Meanwhile, Audie de Castro, head of delegation and Philippine honorary consul of San Diego, said there are a lot of successful Filipino-Americans in San Diego who have the means to invest in the country.

She said the city of San Diego to date has almost 200,000 Filipino-Americans.

“There is high medium income over there of Fil-Ams. They have the means to actually invest in the country and of course, we want to see Filipinos also invest in San Diego for the same reason,” De Castro said.

“As far as I can hear from the delegates and people who are interested, people ask a lot on the real estate here because real estate is a hot market in San Diego County. We have heard a lot of how real estate has really improved in the Philippines. And of course, we have seen Ayala and Megaworld and making their way to Southern California. So, real estate is one of the easier ways to invest in the country,” she added.