Source: The Daily Tribune
The British Embassy has noted that enhanced Public-Private Partnership (PPP) guidelines will boost effective project implementation in local governments.
British Deputy Ambassador Trevor Lewis has reiterated the UK government’s support for the Aquino administration’s PPP initiative and vowed to continue sharing the UK’s experience and expertise to help the Philippine government gain insights on how to further strengthen its program for economic growth.
Recently, the National and Economic Development Authority (Neda) and the PPP Center conducted a forum to guide and encourage local government units (LGUs) to boost economic development using the PPP scheme.
It also launched the enhanced three-volume PPP manual that has been reviewed and updated to make it more relevant and more accessible to local government executives who intend to use PPP as an alternative mode of undertaking their infrastructure projects.
Lewis said the UK government has pioneered in PPP and it has become one of their important exports to the world. He noted that their government has estimated that about £200 billion worth of infrastructure investments will be financed by the private sector in the next five years.
“To support this, our government recently launched a national infrastructure plan that identifies Infrastructure UK as the lead agency in ensuring that the private sector meets the challenge of providing the needed investments in transport, waste management, and devolved administration of public services,” Lewis added.
Meanwhile, Neda Secretary Cayetano Paderanga encouraged LGUs to take advantage of the positive conditions of the Philippines’ financial standing in the global financial community to develop and implement PPP projects.
Paderanga noted that the country is currently enjoying improved ratings from international financial institutions while the Peso is much stronger. He also took note of the lower interest rates from lenders, and enhanced long-term peso-bond market which will boost the competitiveness of the country’s productive sectors and generate massive employment for Filipinos.
30 March 2012
