WITH 55 Public-Private Partnership (PPP) projects, which are worth P613 billion in total, the investment opportunities for the private sectors are vast and their participation to the projects was acknowledged by PPP Center of the Philippines official, calling the private sectors as one of the state’s partner in development.
“The government recognizes that the private sector is very important in fulfilling the infrastructure mission of the government. We seek the private sector as a partner in achieving those audacious and game-changing plans of the government specifically in terms of bridging the infrastructure,” said Lawrence Velasco, director of the Project Development Service of the PPP Center of the Philippines during the Mindanao Trade and Investment Forum at Marco Polo Hotel Friday.
Velasco mentioned that under President Rodrigo Duterte administration’s 10-point socio-economic agenda is to increase annual infrastructure spending to five percent of the country’s Gross Domestic Product (GDP), with PPPs playing a key role.
He also said with the participation of the private sectors in the projects provisions of public goods and services are expected to increase. Also, the private sectors offer efficiency gains on finance, technology, and innovation that the public sector may not be able to afford.
Out of the 55 PPP projects, Velasco said 15 of these had been awarded amounting to around P311 billion. Most of these projects are under the transportation sector particularly the expressways and the MRT and LRT development plans. Two PPP projects for school infrastructures had also been awarded, while the rest are under the information technology and the water supply sector.
Nine PPP projects, amounting to P162 billion, are still under procurement including Davao’s City Francisco Bangoy International Airport. Most of the projects under procurement are also under the transportation sector with one project intended for the facilities of regional prisons.
“We think that’s where the private sectors can come in. There are a lot of work being down in the transport sector now. There are a lot of minds thinking together so that we can solve the transport challenges. What we can focus on also is the non-transport sector because as we know the infrastructure sector is very important,” said Velasco. (JPA)