Spanish companies want in on Aquino admin’s PPP projects

Spanish companies are bent on investing in public-private partnership projects of the Aquino administration and Spain’s ambassador to the Philippines is urging government to open more projects for bidding.   Many Spanish companies are now looking at forging tie-ups with Philippine companies for PPP projects since Ayala Corp. and Spain’s Genitsa bagged the P2-billion Daang Hari-South Luzon extension project last December, Spanish Ambassador to Philippines Jorge Domecq said at the Fundacion Santiago forum in Makati City’s Filipinas Heritage Library.   Infrastructure companies are keenly interested in developing the Philippine railway system, said Domecq, noting that Spain has the world’s second largest high-speed train network after China.   Direct investments in the Philippine from Spain have remained low in previous years after Madrid adopted business globalization in the 1990s and Spain was accepted by European Union.   Because of historical bonds, Spain’s private sector had focused on investing in Latin America as well as in East Asia and North Africa, Domecq noted.   “This has changed dramatically and now big businesses from Spain are looking at Asia for investments,” the ambassador added.   Investors from Spain are also eager about placing their money in food manufacturing, renewable energy, oil and gas exploration, and energy distribution, Domecq noted. The Aquino administration launched its PPP project to attract foreign investments and generate jobs. —VS, GMA News