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Monday, April 22, 2024

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Phl’s PPP infrastructure projects to accelerate economic growth

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By Victoria “NIKE” De Dios

Taking cue from the bustling construction industry and also the awarding of the rehabilitation of the Ninoy Aquino International Airport, industry experts remain bullish on the economic growth as investors’ confidence remains high for the Philippines.

This was discussed in the British Chamber of Commerce Philippines’ business education event called, “Concrete Investments: A Look into the Philippine Infrastructure Industry” at Dusit Thani Manila. The program is the second run of Trade & Connect, a program initiative of the British Chamber to highlight the investment opportunities of the UK in the Philippines on February 28, 2024.

Experts from the Public-Private Partnership Center served as keynote speakers and panelists including Deputy Executive Director Jeffrey Manalo, Aboitiz InfraCapital Inc. President and CEO Cosette Canilao, and Urban Development and Infrastructure Specialist Royston A.C Brockman from IPE Tripleline Consulting Ltd–one of the esteemed members of the British Chamber.

Meanwhile, BCCP Executive Director/Trustee Chris Nelson delivered the opening remarks citing the significance of the recent signing of the Republic Act 11966 also known as the PPP Public-Private Partnership (PPP) Code last December 5, 2023 in driving in more foreign direct investments (FDIs) in the country through an increased partnership between the government and the private sector. Nelson also cited the launch of the British Investment Partnerships (BIP) of the UK government allocating up to £8 billion of financing– with a key focus on green infrastructure and climate finance.

PPP Center Deputy Executive Director Manalo discussed the infrastructure projects under the Public-Private Partnerships (PPPs) highlighting 186 projects under implementation and 117 projects in the pipeline as of 16 February 2024, targeting sectors including transportation, property development, roads, health, information and communication technology, solid waste management, agriculture and food security, water and sanitation, energy, and tourism. It also emphasized on the improved regulatory and legal framework for PPPs which streamlines implementation of projects in the country.

For his part, Aboitiz InfraCapital Inc. President & CEO Canilao gave an overview of the private infrastructure investments in the country–noting the significant role of the private sector in the industry. She also emphasized the importance of enhancing regulatory procedures among relevant agencies involved towards the success of infrastructure projects, also citing the interest and involvement of British companies in the Philippines.

While IPE TripleLine retained consultant Brockman highlighted the importance of integrating sustainable and best practices in implementing infrastructure projects. Further noting the guiding principles toward infrastructure decisions should be around technical & financial, people and sustainable considerations.

The British Chamber continues to provide assistance to UK companies and advocate for increased partnership and participation of the private sector and the government towards enhancing infrastructure development. It remains committed to promoting ease of doing business and efficient regulatory practices to highlight the Philippines as an investment destination in the region.

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