Binay Confident In M'sian Firms' Participation In Expressway Construction

KUALA LUMPUR, May 29 (Bernama) -- The Philippines Government is confident in the Malaysian companies' participation in the construction of expressways in that country. The Philippines Vice-President, Jejomar C. Binay, said the expressway projects in his country will be carried out smoothly with the participation of Malaysian companies. "We are confident in the Malaysian participation in the Philippines' infrastructure projects, particularly on building expressways. "We believe it will be completed without any problems," he said after leading the Philippines' delegation to meet Malaysian International Trade and Industry Minister Mustapa Mohamed. It was announced earlier by the Malaysia External Trade Development Corporation that Malaysian companies are invited to participate in 33 infrastructure projects worth US$7.12 billion (RM22.5 billion) in the Philippines. Among the immediate interest by Malaysian companies are building the C-6 Expressway to decongest the existing C-5 and Metro Manila roads and a four-lane 15.5KM Los Banos Expressway starting at the South Luzon Expressway extension. Binay said all the infrastructure projects are currently in the initial stage. Meanwhile, the Philippines' Ambassador to Malaysia, J. Eduardo Malaya, said his government hoped to invite more Malaysian companies to invest in the Philippines tourism and tourism-relatd infrastructure sectors. "We have set a six million tourist arrival target by year-end and we hope more Malaysians will invest in the Philippines in order for us to attract more tourists," he said. Besides tourism, Malaya said the Philippines was looking forward to partner with Malaysian companies, especially in agriculture, oil palm estates, logistics industry and halal industry. He said Malaysia has developed a commanding leadership as the halal hub of choice for manufacturers, traders and consumers. "In the Philippines, we have a significant number of Muslim Filipino population. I think we can leverage on that and try to export our halal food overseas in collaboration with Malaysian companies," he said. Between January and March, Malaysia's total trade with the Philippines was worth RM3.94 billion while Malaysia's total exports to the Philippines were valued at RM2.76 billion while imports were worth RM1.17 billion. Among Malaysia's major exports to the Philippines are electrical and electronics products, palm oil, chemicals and chemical products, crude petroleum and processed food. To further spur economic and investment partnership. Malaya said the priority sectors are tourism infrastructures, mass housing, energy and electricity, agro-business, Islamic finance and halal food. He said there were numerous investment opportunities in the autonomous region of Muslim Mindanao. (US$1 = RM3.15) -- BERNAMA