DOTr Eyeing Italians for Transport Projects
Many of our big-ticket items are funded by official development assistance
and investors from many countries, including the United States, Japan,
China to name some. DOTr is looking to add Italy to that list.
Department of Transportation Secretary Jaime Bautista is inviting Italian
firms and investors to invest in local transport projects.
According to PNA, Bautista met with Italian investors during the
Association of Southeast Asian Nations (ASEAN)-Italy Economic Relations
Summit held recently in Manila.
The DOTr secretary reportedly presented big-ticket projects that the
Italian business leaders and company owners could consider for investment
viability under the Public-Private Partnership scheme.
Bautista explained that the present administration prefers to implement
projects by partnering with the private sector through a PPP arrangement to
help ease government spending.
To overcome budgetary constraints, the government turns to private
investors or international financial institutions or foreign governments,
he added.
According to the PNA report, among countries that have bankrolled DOTr
projects are Japan, the United States, the United Kingdom, China, South
Korea, Singapore, Belgium, and Switzerland.
The country really needs to upgrade its transportation infrastructure and
we need all the help and funding to accomplish this. Italian funding would
certainly help.