PH-US forge accord to boost PPP investments

The Philippine government has an agreement with the United States that aims to facilitate the entry of investments into the local infrastructure projects, offered under the Public Private Partnership ( PPP).

Philippine Ambassador to the US Jose L. Cuisia, Jr. and US Commerce Secretary Arun Kumar signed the memorandum of cooperation between the two nations to establish a US- Philippines Infrastructure Collaboration Platform.

The agreement will be facilitated by National Economic and Development Authority ( NEDA) and the US Department of Commerce, which seeks to facilitate US industry participation in Philippine infrastructure projects.

“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,” Cuisia said.

On the sidelines of the signing ceremony, Cuisia also urged the Philippines to take advantage of the growing interest of American and other foreign investors in the country.

“Tremendous opportunities exist in the Philippines for infrastructure development,” Cuisia said druring the recent 8th Global Infrastructure Leadership Forum in New York City, which was participated in by 300 attendees.

“It was a great learning and networking opportunity for foreign engineering and construction companies, institutional funders with expertise in infrastructure investments and project consultants, as well as for our own delegation,” Cuisia said.

The Philippine delegation led by Public Works and Highways Secretary Rogelio Singson presented various investment opportunities in infrastructure projects in the country.

“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, citing the 250 percent growth in the infrastructure budget of the Philippines in 2015 from its 2010 level.

Among the other Philippine projects presented were the Laguna Lakeshore Expressway Dike; the Batangas- Manila Natural Gas Pipeline; and the Mass Transit System Loop Project.

Aside from Secretary Singson, the other members of the government delegation were Transportation and Communications Undersecretary Rene Limcaoco and Public Private Partnership Center Executive Director, Undersecretary Cosette Canilao.

The Philippine private sector delegation was composed of Virgilio Rivera, Group Director of Manila Water; Aaron Domingo, Director of Meralco PowerGen Corporation; Delfin Wenceslao, President of the Philippine Constructors Association; officers Bayani Fernando and Marie Lourdes Fernando of BF Corporation; Levy Espiritu of Datem, Inc.; Oscar Mercado of EEI; and Manuel Louie Ferrer of Megawide.