PHL officials promoting PPP projects in Bahrain — DFA

Philippine officials are promoting the Aquino administration's public-private partnership (PPP) scheme to potential investors in Bahrain, the Department of Foreign Affairs (DFA) said Thursday. In PPP projects, the state and the private sector collaborate to build infrastructure such as roads, hospitals, or airports, and the private company usually given the rights to run it for a certain period. In a statement, the DFA said the officials in the Philippine Embassy in Manama met with heads of Bahrain Mumtalakat Holdings Co. (BMHC), a kingdom-owned investment corporation. The firm's current assets are valued at 10 billion Bahraini dinar. It manages the kingdom's sovereign wealth funds, with 35 companies under its portfolio. During their meeting on May 6, Ambassador Ma. Corazon Yap-Bahjin discussed with BMHC's chief operation officer Talal Al Zain and investment officer Pablo Fetter about the Philippines' PPP initiative, the DFA said. Bahjin likewise invited BMHC to invest in the country's transportation and infrastructure projects, it also said. The DFA statement said Al Zain expressed interest in establishing joint-venture projects with foreign companies, in view of BMHC's. He added he will study the projects proposed for funding under the PPP scheme. PPP projects In November, the Aquino administration initially bared its plan to invite private sector in some infrastructure projects under the PPP program. These include the creation of the Cavite-Laguna Expressway, Ninoy Aquino International Airport Expressway (Phase II), Light Rail Transit (LRT)-2 East Extension, LRT-1 South Extension. The government is also looking for investors who will privatize the LRT-1, MRT-3, and Laguindingan Airport in Misamis Oriental, and develop the New Bohol Airport, Puerto Princesa Airport, and New Legaspi (Daraga) Airport. - VVP, GMA News