DFA: PHL roadshow in China for US$12-B PPP projects a success

The Department of Foreign Affairs (DFA) said on Thursday the Philippines' recent public-private partnership (PPP) roadshow in China for around US$12-billion worth of projects was a success. The DFA said the Chinese government and business leaders showed "strong interest" in the Philippines' PPP program promoted by Finance Secretary Cesar Purisima. Public Works Secretary Rogelio Singson said the PPP projects to be rolled out include 25 public works projects, including roads, urban rail, sea ports and airports, worth at least US$12 billion. "Chinese Vice Premier ... Wang Qishan stated during his meeting Tuesday afternoon with Secretary Purisima and fellow economic managers that 'China is open' to the PPP concept while business leaders expressed confidence in Chinese firms' capabilities to participate successfully in PPP projects," the DFA said in a news release posted on its website on Thursday. Purisima told Vice Premier Wang that the Philippines attaches importance to its economic relations with China. He said proof of this is that "China is the first stop" of the economic managers' program to invite international participants to the competitive public bidding for PPP projects to boost the state of infrastructure across the country. Purisima also emphasized the Philippines' geographic proximity to China, citing that it can be ASEAN's northern gateway to China. "A key agenda of the administration of President Benigno Aquino III is to increase economic growth and reduce poverty," the DFA quoted Purisima as telling Wang. Purisima emphasized that to achieve this goal, it is very important to develop the overall infrastructure in the Philippines. "We invite state-owned enterprises and the private sector and seek the support of the Chinese government in this program to improve the overall infrastructure in the Philippines," he said. "We are neighbors, we are much closer, we have more interest together. We hope to have more active engagement, not only between the Philippines and China but also between ASEAN and China. We look forward to bringing our bilateral relations together to a higher level," Purisima said. Purisima also told the business community in Beijing on April 12 that the Philippines is "bullish and open for business" and encouraged Chinese investors to look at investment opportunities in the country. "The Philippines produces over 10 percent of the world's semi-conductors. It is second in business process outsourcing, next to India. It is fourth in shipbuilding, behind South Korea, China and Japan," Purisima said. "It has the fifth biggest reserves of minerals in the world. In short, there are a lot of investment opportunities in the Philippines. More importantly, as a neighbor, the Philippines is very close to China, culturally and geographically," he added. Bilateral relations Meanwhile, Wang said the business contracts to be signed with relevant Chinese government agencies and the private sector with Philippine partners in the future will be conducive to the development of bilateral relations between the two countries. He and Purisima agreed that China and the Philippines can work together on a wide range of mutual interests because they are located in Asia, perceived to be the most economically-vibrant region in the world in the next three to five decades. "There are many ways where China and the Philippines can work together at the bilateral, multilateral and international levels," Wang said. "The China-ASEAN Free Trade Agreement is a very important platform for both sides to work together. We can also work together through ASEAN + 1, ASEAN + 3 and APEC," he added. Trade Secretary Gregory Domingo added the Philippine roadshow team noted "the strong expression of interest in China on the massive infrastructure requirements of the Philippines." Domingo is optimistic that "business delegations from both sides will be shuttling between the two countries in the coming months." Domingo also assured government and business leaders that the Aquino administration is resolved in improving the business environment and ensuring that all investors benefit from a level playing field. – VVP, GMA News