The Department of Transportation (DOTr) on Wednesday urged European investors to come and actively participate in the ongoing public infrastructure transformation the Marcos administration has undertaken, particularly in the transport sector.
Transportation Secretary Jaime J. Bautista asked top officials of the European Union-Association of South East Asian Nations (EU-ASEAN) Council and European Chamber of Commerce of the Philippines (ECCP) to invest in big-ticket infrastructure transport projects.
Bautista highlighted the added value of projects implemented by the agency in partnership with international financial institutions, foreign governments and business groups.
But due to budgetary constraints, project financing from foreign business groups present the most viable option for these projects, according to the transport chief.
“The biggest obstacle has always been fund-sourcing, considering the strained national budget of our government after coming out of the pandemic,” Bautista explained during informal discussions with officials of the EU-ASEAN Business Council and ECCP.
“We have offered various infrastructure transport projects to international financial institutions, private investors, and professional associations and industry groups,” he said.
Bautista cited the proposed privatization of the operations and management of the Ninoy Aquino International Airport and New Manila International Airport as avenues for private sector investment.
“Other regional airports across the country are in the pipeline for privatization,” he said.
Bautista touted infrastructure projects in such transport sectors such as railways, maritime and road, including the Metro Manila Subway, the North-South Commuter Railway (NSCR), the LRT-1 Cavite Extension Project, MRT-7, and MRT-4.
