Phl, China sign joint dev’t plan

MANILA, Philippines - China and the Philippines have signed a six-year economic cooperation plan to boost trade and investments.

Socioeconomic Planning Secretary Ernesto Pernia and China International Trade Representative and Vice Minister of Commerce Fu Ziying signed the Six Year Development Program (SYDP) for Trade and Economic Cooperation between the Philippines and China during a meeting in Davao City.

“The SYDP aims to steer and promote stable and orderly development of economic cooperation, enlarge the scope and enhance the level of cooperation, and drive sustainable and inclusive socio-economic development in both countries,” the Department of Finance said in a statement.

Also tackled during the meeting was the possibility of extending support for the conduct of feasibility studies for two infrastructure projects which include the Panay-Guimaras-Negros Bridges and the Davao City Expressway.

The two countries likewise discussed general updates on bilateral and financing cooperation, infrastructure, trade, investments, agriculture, fishery, and tourism.

The National Economic and Development Authority has lined up 15 big-ticket infrastructure projects for loans financing and nine projects to be prioritized for feasibility study funding.

To be prioritized in securing loans are the $53.6 million Chico River Pump Irrigation project in Cagayan and Kalinga provinces, the $374 million New Centennial Water Source-Kaliwa Dam project in Quezon province, and the South Line of the North-South Railway Project.

Others pipelined for loan financing are the rehabilitation and improvement of the Zamboanga fish port complex, Mindanao railway, Nationwide Fish Ports project- package III, Ilocos Norte irrigation, Regional Fish Port project for Greater Capital Region, Gregorio del Pilar Impounding project, Tumauini River Multipurpose project, Panay River Basin Integrated Development project, Asbang Small Reservoir Irrigation project, Bohol Northeast Basin Multipurpose Dam project, Subic-Clark Railway project and the BGC-Ninoy Aquino International Airport segment of the Metro Manila  Bus Rapid-EDSA project.