Philippine and Chinese officials have underscored the substantial progress made in revitalizing and strengthening economic relations between their two countries, which, they said, was the result of the “favorable and enabling environment” fostered by their continuous efforts to fast-track the implementation of infrastructure projects that the Philippines has presented to China for possible financing.
Philippine officials met last weekend with a visiting Chinese delegation headed by China Commerce Minister Zhong Shan to review the progress of the actions of their respective governments on the first batch of infrastructure projects and discuss in detail the second batch of projects that the Philippines plans to implement also in cooperation with China.
Members of the Philippine Delegation were Secretaries Carlos Dominguez III of the Department of Finance; Ernesto Pernia of the National Economic and Development Authority (NEDA); Mark Villar of the Department of Public Works and Highways (DPWH); Benjamin Diokno of the Department of Budget and Management (DBM) and Arthur Tugade of the Department of Transportation (DOTr); and Vivencio Dizon, President of the Bases Conversion and Development Authority (BCDA).
In step with the two countries’ shared goal of fast-tracking the implementation of infrastructure projects, Dominguez and Zhong acknowledged the efforts of the two sides to streamline government processes to speed up the preparations for, and implementation of, the first “basket” of infra projects presented for Chinese financing.
The first batch, consists of, among others, the Chico River Pump Irrigation Project in Cagayan and Kalinga provinces and the New Centennial Water Source-Kaliwa Dam Project.
The Chinese Government is looking forward to the submission of the second basket of projects being lined up by Philippines for possible funding by China.
