AUTO INDUSTRY NEWS

DOTr wants to open local infrastructure to foreign investors

DOTr wants to open local infrastructure to foreign investors image

Text: Eric Tipan / Photos: Brent Co | posted October 05, 2016 09:59

Targets establishment of intermodal transport system

With more developments in the pipeline in order to ease traffic congestion and to add more transportation options for commuters, the Department of Transportation (DOTr) plans to attract foreign investors to boost funding of infrastructure projects.

DOTr Undersecretary for Planning Rommel Gavieta announced plans of categorizing projects intends into two: Projects which will enable the participation of foreign investors; and Development-based projects which may be funded through official development assistance (ODA).

“We intend to maximize foreign investments in the country,” said Gavieta.

The goal of the DOTr is to form an intermodal transport system in the country that will allow commuters and goods to be moved safely and efficiently.

Sen. Grace Poe, chairperson of the Senate committee on public services, supported the move by the DOTr in order for the government to provide a transport system that offers ‘comfort and dignity to commuters.’

“I envision this transport system to be a part of, and connect, a network of progressive, sustainable, and livable communities, that are well planned and immaculately executed. So in one community, you have in your community a hospital, a school and a place to work,” said Poe.

In order to facilitate foreign investment, Poe seeks to lift the economic restrictions in the Constitution to encourage foreign ownership of businesses in the Philippines.

“We must open our economy to foreign investments. Infusion of foreign capital is needed to create jobs,” added Poe.