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  • By The Financial District

China-Funded Projects Being Renegotiated

The Philippines has resumed talks with China to renegotiate China-funded transport projects in the country, according to the Department of Transportation (DOTr).

Photo Insert: Transportation Secretary Jaime Bautista and Chinese Ambassador Huang Xilian

Transportation Secretary Jaime Bautista and Chinese Ambassador Huang Xilian discussed the parameters of the China-funded projects during a formal meeting at the Chinese Embassy in Makati City last Thursday to “restart negotiations for major transport projects”.

“The two officials discussed the resumption of talks for the major China-funded railway projects such as the PNR South Long Haul Project (North-South Commuter Railway), Subic-Clark Railway and Mindanao Railway (Tagum-Davao-Digos),” the DOTr said.

The said transport projects were earlier deemed “withdrawn” due to China’s inaction on funding requests by the previous administration. The DOTr said the Chinese government’s funding support for these projects will “strengthen bilateral relations and enhance the partnership between the Philippines and China.”

In a separate statement, Huang described his meeting with Bautista as “constructive” and expressed hope that the two countries would accomplish more infrastructure projects in the railway sector.

All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

“[I] hope that China-Philippines cooperation in infrastructure and railway would achieve more tangible fruits and bring about more benefits to the Filipino at an early date,” he said.

He also said China is committed to helping Southeast Asian countries in railway development.

“China is also devoted to promoting the connectivity of the Southeast Asian countries by sharing its experience and introducing the cut-edging technology of railway construction and rolling stock manufacturing,” he added.

Market & economy: Market economist in suit and tie reading reports and analysing charts in the office located in the financial district.

China earlier said it has helped the Philippines complete 17 projects while more than 20 projects are under implementation or in progress.

Meanwhile, Bautista and Huang also discussed several China-Philippines Maritime Cooperation Projects, particularly the hotline communication and legal affairs cooperation arrangements between the Philippine Coast Guard (PCG) and the China Coast Guard.

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