Philippine spending on road doubles | Bangkok Post: business

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Philippines taps foreign road investors

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MANILA - The Philippines plans to allow overseas companies to build infrastructure worth at least US$1 billion (32.5 billion baht) as the nation doubles spending on roads, ports and bridges to bolster its tourism and farm sectors, Public Works Secretary Rogelio Singson said. 

Licences can be issued to foreign contractors that will pledge investments, with estimates placing the requirement at as much as $1 billion in the form of equity and equipment, Mr Singson said.

Currently, foreign builders apply for a special permit per project.

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