The Department of Transportation (DOTr) is encouraging Italian companies and investors to explore opportunities in the Philippine transportation sector.
Speaking before the high-level ASEAN-Italy Economic Relations, Transportation Secretary Jaime Bautista is hoping that Italian investors will consider investing in the country’s transport infrastructure projects.
The transport chief noted that the transport agency has opted to undergo Public-Private Partnership (PPP) scheme for these projects as the government is tightening its financial belt.
“We prefer to implement projects by partnering with the private sector through a PPP arrangement. To overcome budgetary constraints, we turn to private investors or international financial institutions or foreign governments,” he said.
Among the countries that have bankrolled DOTr projects include Japan, the United States, the United Kingdom, China, South Korea, Singapore, Belgium, and Switzerland, among others, according to Sec. Bautista.
During the dialogue, Bautista discussed the diverse portfolio of transport infrastructure projects in aviation, railways, road, and maritime.
These included the Subic-Clark-Manila-Batangas Railway freight line, South Long Haul Project, and studying the possibility of adopting a cable car system in Baguio City.
“These transport infrastructures can become avenues for bilateral cooperation once evaluated and explored. Our rapidly changing transport industry depicts the massive infrastructure development being pursued by the government of President Ferdinand Marcos Jr.,” Bautista said.
Bautista also shared the transport non-specific thematic initiatives and other critical initiatives to further provide a comfortable, accessible, safe, sustainable, and affordable travel experience for everyone.
