MANILA - The government said it has 'sealed' the deal for the proposed Metro Manila subway system.

Transport Secretary Arturo Tugade announced that the Philippines and Japan agreed on the P300 billion project during the World Economic Forum in Cambodia.

Tugade said that the Philippines and Japan will sign the agreement this November during the ASEAN Summit in Manila.

Tugade also assured that the project will be transparent and the bidding will be conducted live for all to see.

Apart from the subway and other infrastructure projects, the Philippine economic delegation at the forum said that the Duterte administration also intended to bring down the cost of power in the Philippines.

They noted that the Philippines has one of the highest electricity rates in the region, and needed new investments in the energy sector.

Government economic managers also said that all infrastructure projects in the pipeline will be finished during Duterte's term.