Philippines calls for Chinese investment

A call for more Chinese investment in the Philippines was made by an official from the island nation on Wednesday.

This investment was needed especially to build roads and bridges, said Rogelio Singson, secretary of the Philippine Department of Public Works and Highways.

The Philippines has introduced a hierarchy system to attract foreign contractors, he said. This requires a minimum investment or equity capital of about $21.12 million for smaller projects and about $64 million for projects such as roads and bridges.