Italian firms next on DOTr’s investors’ list
The DOTr is presently prioritizing Public-Private Partnerships as the government faces budgetary constraints.
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The DOTr is presently prioritizing Public-Private Partnerships as the government faces budgetary constraints.
The Department of Transportation (DOTr) is trying to court Italian firms to explore a wealth of investment opportunities in the country's transport sector—an emerging hotspot for business expansion.
During his speech at the ASEAN-Italy Economic Relations meeting on Wednesday, Transportation Secretary Jaime J. Bautista pointed out that there is substantial business potential within the Philippines' major infrastructure projects in transportation.
"We are bringing these projects to your attention with the hope that Italian business leaders and investors will recognize the strong investment potential of our transport infrastructure," Bautista said.
He noted that the DOTr is prioritizing Public-Private Partnerships (PPP) as the government faces budgetary constraints.
"Our preference is to collaborate with the private sector through PPPs to advance these projects. By leveraging private investment and international partnerships, we can address financial limitations," he said.
Countries already supporting DOTr projects include Japan, the United States, the United Kingdom, China, South Korea, Singapore, Belgium, and Switzerland, according to Bautista.
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