PH, US sign deal to boost PPP investments

ABS-CBN News

Posted at Mar 16 2015 12:37 PM | Updated as of Mar 17 2015 02:17 AM

MANILA – The Philippines has signed an agreement with the United States that aims to boost awareness and invite investors to bid for infrastructure projects offered under the public-private partnership (PPP) program.

The Memorandum of Cooperation signed by the two countries established a US-Philippines Infrastructure Collaboration Platform between the National Economic and Development Authority (NEDA) and the US Department of Commerce.

"The agreement creates a platform for potential US investors to get notification and information about forthcoming infrastructure projects, which would be useful to enhancing awareness and attracting the attention of American investors in the Philippines," ambassador Jose Cuisia said.

The agreement was signed by Cuisia and US Commerce Secretary Arun Kumar at the 8th Global Infrastructure Leadership Forum in New York City.

The Philippine delegation, led by Public Works and Highways Sec. Rogelio Singson, presented investment opportunities in infrastructure projects in the Philippines during the two-day forum.

Among the projects presented were the Laguna Lakeshore Expressway Dike; Mass Transit System Loop Project; and the Batangas-Manila natural gas pipeline.

"Tremendous opportunities exist in the Philippines for infrastructure development," added Cuisia.

The other members of the Philippine delegation were Transportation Usec. Rene Limcaoco and Public Private Partnership Center Executive Director Cosette Canilao.

"Good governance and anti-corruption reforms produced marked improvements in the infrastructure sector, which has strong convergence with agriculture, tourism, flood mitigation and an integrated transport system," Singson said.