Source: ZamboTimes, 18 February 2012
MANILA — The National Economic and Development Authority (NEDA) on Friday said that the public-private partnership (PPP) would “work well” if the private sectors are assured of getting fair deal.
“Thus, the Philippine government has put into place a business environment characterized by broader emphasis on transparency, accountability and good governance. Ultimately, this environment should be able to create new jobs, improve delivery of basic socioeconomic services, and spur positive economic growth,” said Socioeconomic Planning Secretary Cayetano Paderanga Jr. during the Japan External Trade Organization (JETRO)-PPP seminar.
The PPP is one of the flagship programs of the Aquino administration, which seeks to encourage greater participation of the private sector in the provision of basic public infrastructure through construction, investments, and operations and management.
Paderanga said the PPP recognizes the private sector as a reliable and capable partner in pursuing infrastructure projects that will help improve the lives of Filipinos.
To enhance private sector investments in development projects, Paderanga said that the government has already initiated the necessary amendments to the existing Build-Operate-Transfer (BOT) Law for a more transparent and level playing field.
“While the proposed amendments are yet to be finalized to become a new law, revisions to the existing implementing rules and regulations of the BOT Law will soon take effect. Further, revisions to the existing Guidelines and Procedures for Entering into Joint Venture (JV) Agreements between Government and Private Entities are also being finalized,” he said.
Paderanga said that they have identified projects that believe that have multiplier effects on the economy and aim to benefit the poor.
“At present, we have 16 PPP infrastructure projects in various stages of development that will be ready for the private sector participation,” he said.
These projects include the Laguindingan Airport in Misamis Oriental, the new Bohol Airport, Mactan Airport, Puerto Princesa Airport, the LRT Line 1 and Line 2, and the BALARA water hub and Angat Hydro Electric Power Plant for its operation and maintenance.
Paderanga also said that the investors confidence in the Philippines has been improving, leading the international financial community to rate the Philippines as the third most preferred market in the world for global fund managers.
“This confidence from the international finance community reflects a collective affirmation of the government’s current reform agenda,” he said.
The Philippine economy has remained robust and resilient, growing by 3.7 percent in the fourth quarter of 2011, from 3.1 and 3.6 percent in the second and third quarters, respectively, despite the global economic turbulence that includes the US and European debt crisis.
“We expect such steadfast resilience, supported by initiatives in good governance, to help the country move forward in a sustained manner,” the NEDA chief said. (PNA)
