A major Chinese construction firm pledged more investments to the Philippines through public-private partnership (PPP) following the state visit of President Ferdinand R. Marcos Jr. in China earlier this month.
During a courtesy call on Marcos Monday, Jan. 30, officials of China Communications Construction Co. Ltd. (CCCC) proposed the construction of the 270-kilometer (km) Laoag City-Rosario City Highway Project.
The officials also introduced Juncao technology, a Chinese technology which means breeding fungi with herbaceous plants.
The officials proposed a Juncao Technology Demonstration Center and Industrial Park for
Juncao grass cultivation and processing.
President Marcos said the government has changed PPP regulations and rules to make it more attractive for private corporations, and that his administration will not limit its partnerships to PPPs.
“It can be of any nature-commercial venture or joint venture with a local partner. Of course, the PPP, where you have partnership with [the] government, even G2G [government to government] arrangements– are also something that we have been doing for a long time and again that we wish to further,” Marcos said.
Marcos also allowed “relaxed” rules on allowing foreign contractors to encourage technology transfer.
The President is hopeful that CCCC will be an ally of the country in implementing climate-change-related environmental projects.
CCCC is a Chinese-state owned enterprise that builds roads, bridges, and railways that has over 60 wholly owned subsidiaries and operates in over 150 countries and regions.
They are also involved in private reclamation projects in Metro Manila including the Pasay Harbor City Reclamation Project and Manila Waterfront City Development Project. –Katrina Gracia Consebido/gb