Eco­nomic man­agers to tap China’s help for PH projects


Cebu Daily News - - ISLANDS - /IN­QUIRER.NET

The Duterte ad­min­is­tra­tion’s eco­nomic man­agers later this month will seek more sup­port for the am­bi­tious “Build, Build,Build” in­fra­struc­ture pro­gram from the Chi­nese gov­ern­ment as well as in­vestors, the Depart­ment of Fi­nance said Fri­day.

In a state­ment, the Depart­ment of Fi­nance (DOF) said Fi­nance Sec­re­tary Car­los G. Dominguez III will lead the Cab­i­net-level del­e­ga­tion for the in­fra­struc­ture road­show in China on Sept. 27–29.

“The Philip­pine del­e­ga­tion will meet with Chi­nese min­istry of­fi­cials on Sept. 27 in Bei­jing and pro­ceed the fol­low­ing day to Shang­hai, China’s fi­nan­cial cen­ter, to gen­er­ate sup­port for the ‘Build, Build, Build’ pro­gram of the Duterte ad­min­is­tra­tion,” the DOF said.

Un­der the “Build, Build, Build,” the gov­ern­ment will roll­out 75 flag­ship, “gamechang­ing” in­fra­struc­ture projects to be started and fin­ished in the next six years, in line with plans to spend up to P9 tril­lion on hard and mod­ern in­fra­struc­ture un­til 2022.

The eco­nomic man­agers “will also meet with high-rank­ing Chi­nese of­fi­cials to dis­cuss the progress of the prepa­ra­tions for the Philip­pines’ big-ticket in­fra­struc­ture projects that would be partly funded by of­fi­cial de­vel­op­ment as­sis­tance (ODA) from China,” ac­cord­ing to the DOF.

Dominguez will be joined by Ex­ec­u­tive Sec­re­tary Sal­vador Me­di­aldea, Bud­get Sec­re­tary Ben­jamin Dio­kno, Trans­porta­tion Sec­re­tary Arthur Tu­gade, Pub­lic Works Sec­re­tary Mark Vil­lar, as well as Bases Con­ver­sion and De­vel­op­ment Au­thor­ity pres­i­dent Viven­cio Di­zon, the DOF said.

Dur­ing a re­cent meet­ing in Manila be­tween the eco­nomic man­agers and China Com­merce Min­is­ter Zhong Shan, the Philip­pine and Chi­nese gov­ern­ments noted of “sub­stan­tial progress made in re­vi­tal­iz­ing and strength­en­ing eco­nomic re­la­tions be­tween their two coun­tries,” the DOF said early this week.

They at­trib­uted the closer eco­nomic ties to “fa­vor­able and en­abling en­vi­ron­ment fos­tered by their con­tin­u­ous ef­forts to fast-track the im­ple­men­ta­tion of in­fra­struc­ture projects that the Philip­pines has pre­sented to China for pos­si­ble fi­nanc­ing,” the DOF had said.

Specif­i­cally, Fi­nance Sec­re­tary Car­los G. Dominguez III and Zhong both “ac­knowl­edged the ef­forts of the two sides to stream­line gov­ern­ment pro­cesses to speed up the prepa­ra­tions for and im­ple­men­ta­tion of the first­bas­ketof in­fra­struc­ture projects pre­sented for Chi­nese fi­nanc­ing,” ac­cord­ing to the DOF.

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