The Department of Transportation (DOTr) is wooing Korean investors to fund various transport projects aimed at improving travel experiences for Filipinos.
“We need collaboration of various stakeholders, such as Korean investors. We are inviting Korean companies to discover the business viability and rich investment opportunities contained in these transport projects,” DOT Secretary Jaime Bautista said in a statement.
“Our transport projects are bound to stir the status quo once completed,” he said.
Bautista cited big ticket transport projects supported by the Republic of Korea, through the Export-Import Bank of Korea, such as the New Cebu International Container Port, Maritime Safety Enhancement Project and relocation of the New Dumaguete International Airport.
He said these projects have a total cost of P33.26 billion, with KEXIM extending a P27.91-billion loan to fund the projects.
Korea also extended its support for the LRT-2 extension up to Cogeo in Antipolo, Automated Fare Collection System, Pangasinan New Airport and a new airport backup system.
“These foreign assistance stirs a ripple effect that catalyzes socio-economic growth in the communities situated along and around project sites, generating jobs and livelihood,” Bautista said.
