THE Philippines inked six deals with France worth at least P4.7 billion (€94.24 million), after President Aquino and visiting French President François Hollande exchanged views on pressing regional and global issues.
Thursday marked the first visit of a French president to the Philippines since the establishment of the two countries’ diplomatic relations in 1947.
Hollande, during a meeting with the local business community, said he considers these partnership agreements as significant, as the Philippines is lacking $100 billion in terms of infrastructure funding. The French president said this assessment came out of a discussion with Mr. Aquino during the latter’s visit to France in the third quarter of 2014.
The deals signed by President Aquino and Hollande included the $24-million Muntinlupa Wastewater Treatment Project between Maynilad Water Services Inc. and JE Manalo/Suez Degremont Consortium; the $15-million solar plant in Victoria, Negros, with the companies Urban Solar and Sun Asia with MCB Industries SA; and the $42-million bridge development to cross the Parañaque River on the Naia Expressway between Vertex Tollways of San Miguel Corp. and Mattiere S.A.
The agreements also covered the $27-million district cooling system for the facilities between Cyberzone Properties Inc. of Filinvest Alabang Inc. and France-based energy solutions provider Cofely.
Two other agreements were memorandum of understanding, whose worth has yet to be revealed. One of these agreements is a “cooperation” deal between Ayala-Metro Pacific Investments Corp. and RATP Dev for the operations and maintenance agreement contract for the Manila Light Rail Transit System 2.
The other is a mutual cooperation agreement for electricity development using renewable-energy sources in the Philippines between PNOC Renewables Corp. and Akuo Energy, Bell Pirie and DCNS. Notably, France-Philippines Business Council Head Anton Huang said a separate agreement from the six already signed on Thursday evening is the one between the Light Rail Manila Consortium and the French firm Alstom Transport.
This deal for the LRT 1 extension project will be signed soon, Huang said, but declined to disclose the partnership’s worth.
Other areas ripe for investment and which France can supply are renewable energy and education, according to Huang. According to Communications Secretary Herminio B. Coloma Jr., Hollande and Mr. Aquino also signed a “declaration of intent” of the two governments on protection of environment and sustainable development of marine resources.
“France can stand by [the Philippines] should you need to find resources for your development,” Hollande said, adding other areas that President Aquino also mentioned for cooperation is in health and tourism.
This offer of services, technical know-how and assistance is ever more pressing, considering the vulnerability of the Philippines to disasters, a consequence of the changing global environment, Hollande said.
The French president gave highlight to his push for climate-change discussion during his address to the Makati Business Club and top government officials on Thursday, eyeing an “alliance” with the Philippines in view of France’s hosting of the 21st United Nations Climate Change Conference in the latter part of the year.
Butch Fernandez & Catherine N. Pillas
Image credits: AP/Aaron Favila