MANILA –– The Philippines is looking at regional cooperation, particularly with the Association of Southeast Asian Nations (ASEAN), as a way to support the implementation of government’s infrastructure program which plays an important role in attracting investments, according to an official of National Economic and Development Authority (NEDA).
NEDA Undersecretary for Regional Development Dr. Adoracion Navarro said regional cooperation will be strengthened through investments in infrastructure-related activities given the country’s huge infrastructure needs.
“As a matter of principle, the competitive bidding process is open to global players… We will need competition in services like the provision of EPC (engineering, procurement and construction) contractors. The bidding process for those is not only for the conglomerates here but also for other global players,” Navarro said in an interview.
She said conglomerates in other countries also partner with local corporations, leading to the transfer of technology.
Likewise, Navarro said developments in other countries are providing opportunities for local firms to participate particularly in infrastructure development there.
“Given the huge infrastructure investment needs not only in the country but also in the rest of ASEAN, ASEAN may further strengthen its economic infrastructure partnerships by supporting connectivity pursuits in the region,” Navarro said in an earlier economic conference.
The NEDA official also cited the role of official development assistance (ODA) in infrastructure financing, which she considered “very important”.
Navarro noted that under the 2017-2022 Public Investment Program (PIP), PHP1 trillion, or 13 percent, out of the total PHP7.7-trillion financing requirement will be sourced through the ODA. PIP contains the rolling list of priority programs and projects.
“And also by showing that we are very serious in improving, upgrading the quality and also the physical quantity of our infrastructure, we are showing to our partners in the region, including the ASEAN region, APEC (Asia-Pacific Economic Cooperation) region, that we are maintaining the high growth momentum and there is so much to look forward to in the Philippines. That will also give ideas to potential investors to consider the Philippines as an investment destination,” she added. (Leslie Gatpolintan/PNA)
