📋 Tender Overview
The Department of Finance DOF has announced on Tuesday April 26 the official endorsement of the Subic Bay Regional Development Master Plan which was finalized with the assistance of a survey mission team of the Japan International Cooperation Agency JICA and that will serve as a blueprint to maximize the economic development potentials of the Subic Bay and its surrounding areas.The joint effort of the Philippines and Japan to formulate a regional development master plan for Subic Bay commenced with the decision by the two countries leaders in November 2019-and the Memorandum of Cooperation to that effect in Hakone Japan in December 2019. The finalized Master Plan was furnished by Japanese Ambassador to the Philippines H.E. Kazuhiko Koshikawa to Secretary Dominguez on April 7 in Manila.During Secretary Dominguezs meeting on April 25 with Minister for Foreign Affairs of Japan Hon. Hayashi Yoshimasa both sides welcomed the successful completion of the Master Plan that was yet another epitome of bilateral strategic partnership between the Philippines and Japan. We deeply appreciate the Japanese Governments close coordination and expeditious fulfillment of the commitment to the Subic Bay development masterplan despite the challenges posed by the COVID-19 pandemic during its preparation said Secretary Dominguez.The Master Plan envisages Subic Bay regions economic future and concrete development proposals in both public and private sectors with which the Philippine Government unlocks the full potentials of Subic Bay including the port capacity and the connectivity with its hinterlands with a view to helping continued efforts to decongest Metro Manila. Minister Hayashi expressed hope that the publication of the Master Plan proves to be conducive to the enhancement of regional connectivity and coast guard capabilities of the Philippines.The Philippines and Japan signed the Memorandum of Cooperation on Subic Bay Regional Development in December 2019 with the belief that such cooperation would serve both countries common interests. To be specific the Japanese side rendered technical support to the formulation of the Subic Bay Regional Development Master Plan that maximizes the economic development potentials of the Subic Bay by harmonizing logistics industry and living functions as well as existing assets and new investments. The finalized master plan has covered possible development projects in the fields of road network for Olongapos Central Business District and Subic Bay West Coast logistics terminals such as Alava Wharf among others and public utilities such as the Philippine Coast Guards new support facilities.To date Japan remains to be the countrys top Official Development Assistance ODA partner with a net loan commitment of about USD 10.02 billion and grant amount of USD 181.15 million accounting for 31.84 percent of the countrys total ODA portfolio. DOF
