MANILA, Philippines - The government has presented 10 public private partnership (PPP) projects worth $3 billion to a group of Japanese businessmen in an effort to attract investments.
Trade Secretary Gregory L. Domingo presented the 10 projects, which focus on infrastructure support facilities for tourism, agriculture, social services and growth centers, during the 29th joint committee meeting of Philippine-Japan Economic Cooperation Committee Inc. (PHILJEC) and the Japan-Philippines Economic Cooperation Committee (JPECC) held in Tokyo.
Domingo said infrastructure development is “crucial in aiming for a better business environment as this will ensure a smooth and quick turnaround of goods and services at less cost and it is towards this end that the government sees the need to further harness the role of the private sector as an indispensable partner in national development through PPP.”
According to Domingo, the Philippines has strong economic relations with Japan especially now that the Japan Philippine Economic Partnership Agreement (JPEPA) is in place.
“Japan remains to be the Philippines’ top trading partner and second biggest source of foreign investments and that the Philippines intends to further enhance our partnership with Japan by making our country the best place for Japan to do business with,” he said.
“We will see much more between the two countries as we maximize the JPEPA. This is something that we need to work on as there is so much we can do to improve business between the two countries,” he added.
Domingo said the government “is an enabler of business” and that the Aquino administration knows that by “strengthening government institutions to nurture good governance practices through anti-corruption and improving competitiveness measures, we will be able to cultivate a climate conducive to business.”
Other government officials who attended the PHILJEC-JPECC meeting were Finance Secretary Cesar Purisima, Energy Secretary Rene Almendras and Bangko Sentral ng Pilipinas Deputy Governor Diwa C. Guinigundo. The economic team met with very senior members and decision makers of the Japanese investment and business communities and encouraged them to take part in the positive growth momentum of the Philippines and invest in the country’s key competitive sectors.