PRESS RELEASE
21 October 2014
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After encouraging foreign companies in Europe, Singapore, and Japan to invest in the Public-Private Partnership (PPP) opportunities of the country, the government staged an investment roadshow in North America showcasing the various PPP projects in the pipeline.
The PPP Center in cooperation with Philippine Embassies and Consulates in Toronto and Montreal, Canada and New York and Washington DC, USA promoted the PPP Program to the North American market.
After being pitched of the pipeline of more than (fifty) 50 PPP projects with an estimated cost of 20.82 billion US dollars, the participating companies were impressed of the diverse investment opportunities in the country. The roadshow attendees have expressed their interest to engage in the PPP program either as bidders, funders, operators, sub-contractors, or as consultants, among others.
Meetings with potential investors in Canada
The roadshow started with a series of one-on-one meetings with potential investors in Toronto and Montreal last October 14 to 15. Executive Director Cosette V. Canilao discussed with various companies and organizations the Philippines’ PPP Program and projects.
In Toronto, Canilao also met with Canadian Council for PPP (CCPPP) to talk about the role of the private sector in supporting PPPs in Canada. The Council is a non-partisan, non-governmental organization that is a proponent of evidence-based public policy in support of P3s. It facilitates the adoption of international best practices, and educates stakeholders and the community on the economic and social benefits of PPP.
She also had a teleconference with P3 Canada, which may be considered as the PPP Center’s Canadian counterpart. P3 Canada, a federal Crown corporation, provides expertise and advice in assessing and executing PPP opportunities at the federal level. P3 Canada officials and Executive Director Canilao exchanged best practices and country experiences in implementing PPPs and in other areas such as strengthening of the legal and regulatory frameworks and capacity building.
Canilao also had a meeting with Manulife Capital, C&I Constructive Edge, and Ontario Municipal Employees Retirement System (OMERS) to discuss the current investment opportunities in the Philippines.
The next stop of the PPP investments roadshow was Montreal, Canada. On October 15, the PPP Center head met the officials of Caisse de depot et placement du Quebec (CDPQ) and one of Canada’s largest pension investment managers, PSP investments.
Manulife, OMERS, CDPQ, and PSP Investments are keen on assessing possible areas of investment in infrastructure and PPPs most likely through partnerships with local players.
PPP Forum and the US-ASEAN Business Council Meeting
After Canada, the investments roadshow continued in New York and Washington DC. Two fora were set in both cities, both focused on PPP infrastructure investment opportunities in the Philippines.
Over forty (40) participants joined the Forum on PPP Infrastructure Projects in the Philippines: Opportunities for US Investors at the Kalayaan Hall of Philippine Center in New York. Following her presentation on PPP investment opportunities, Executive Director Canilao answered some questions from the audience with Consul General Mario Lopez de Leon, Jr. of the Philippine Consulate office in New York. She also entertained one-on-one meetings with possible investors.
Companies she met with in New York City include UTC-RAS and Globe Connect, Eisner Amper, and Blackrock, a leading global asset manager with offices in North and South America, Europe, Asia Pacific and others. Most of these companies have expressed their interest in vying for the country’s big-ticket PPP projects.
In Washington, CGLA organized a forum on PPP Infrastructure Opportunities held at the Philippine Embassy in Washington DC. Assistant Secretary Arun Kumar of the US Department of Commerce, in his opening remarks, emphasized the need to strengthen the network between American and Philippine companies to increase participation of US companies in our country’s infrastructure supply chain. Post-forum one-on-one meetings with Hill International, Parsons, Tetra Tech and San Jose Construction also took place. In the forum, participants also had the chance to inquire about the country’s PPP program through the question and answer sessions and one-on-one meetings.
Before the CGLA Forum, Canilao had a private meeting with the US Department of Commerce Assistant Secretary and other representatives from the US Department of Transportation, US Trade and Development Agency and Export-Import Bank of the United States.
One of the highlights in the North America PPP Investments Roadshow was the roundtable discussion between Executive Director Canilao, Philippine Ambassador to the United States, Hon. Jose L. Cuisia, and members of the US-ASEAN Business Council. These include companies such as IBM, GE, UL, PACCAR, 3M, Autodesk, Bechtel, Caterpillar, and Medtronic, in Washington DC.
The North America Investment Roadshow is part of the government’s efforts to encourage more foreign players to invest in the country’s PPPs especially that there is now a steady deal flow of investment opportunities and the country’s credit ratings are at an all-time high, as evidenced by major international rating agencies’ successive upgrades.
