The Philippine government has reiterated its commitment to bolstering bilateral economic cooperation with Japan, with a particular emphasis on advancing the country’s infrastructure development.
This pledge was made during the 15th Meeting of the Philippines-Japan High-Level Joint Committee on Infrastructure Development and Economic Cooperation, held at the Bureau of the Treasury office on Monday, March 24.
Co-chaired by the National Economic and Development Authority (NEDA) and the Department of Finance for the Philippines, alongside Japan’s Special Advisor to the Prime Minister, the meeting centered on opportunities to deepen multi-sectoral collaboration. Key areas of focus included disaster risk reduction, maritime safety, regional development, information and communications technology (ICT), energy, and the environment. The committee also discussed projects related to the Mindanao Peace Process.
NEDA Secretary Arsenio M. Balisacan highlighted the critical role of infrastructure in driving the Philippine economy and improving the lives of Filipinos, noting that Japan’s partnership has been instrumental in the country’s sustained and transformative growth.
“Today’s discussions reinforced our shared commitment to ensuring the successful implementation of key infrastructure projects and overcoming challenges in project execution. We reviewed our progress, shared updates on ongoing initiatives, and explored new areas of cooperation,” Balisacan stated.
The meeting also provided an update on several major infrastructure projects currently backed by Japan, including the Parañaque Spillway Construction Project, the Philippine Coast Guard Support Facility, the National Digital Terrestrial Television Broadcasting Network Project, and the Second San Juanico Bridge Construction Project.
Balisacan stressed the importance of continuing these investments, implementing necessary policy reforms, strengthening institutions, and exploring innovative financing solutions as the Philippines works towards achieving upper middle-income status.
“Our discussions also underscored the growing importance of innovative financing. As concessional loans become less accessible, we recognize that Public-Private Partnerships (PPPs) will play a crucial role in infrastructure development. We look forward to expanding our cooperation in this area and leveraging Japan’s expertise to enhance private sector engagement for priority projects,” the country’s chief economic planner emphasized.
The meeting culminated in the ceremonial signing of loan agreements for several key projects, including:
- The Davao City Bypass Construction Project
- Phase IV of the Pasig-Marikina River Channel Improvement Project
- The Cavite Industrial Area Flood Risk Management Project
- The Climate Change Action Program, Subprogram 2
- The Build Universal Healthcare Program, Subprogram 2
The Joint Committee on Infrastructure Development and Economic Cooperation was established in January 2017 following the state visit of then-Prime Minister Shinzo Abe to the Philippines. The committee’s primary objective is to monitor ongoing infrastructure and economic cooperation projects and address any challenges encountered during their implementation.
