Philippines Invites Foreign Investment In Water Projects

July 31, 2008 6:01 a.m. EST

Manila, Philippines (AHN) - The Philippine government on Monday invited foreign investors to help finance the region's water projects by making joint ventures with local firms.

Philippine Environment Secretary Lito Atienza made the announcement after his agency completed a set of guidelines to encourage more foreign investment in the water utility sector.

He presented the guidelines at the Southeast Asia Business Forum held in partnership with the Singapore International Water Week and Water Leaders Summit in Singapore.

"The Philippines has abundant water supply from rainfall, of which we are only able to use 28 percent. Thus, water scarcity is not our problem but the challenge of bringing this excess water to where it is needed, when it is needed," Atienza said.

The agency identified investment opportunities in the local water sector, particularly in desalination, wastewater treatment, sewage, waste management and supply projects.