PH Govt Urged To Partner With Foreign And Private Investors For Infrastructure Development

Industry experts said the government needs to explore partnerships with more foreign governments and private investors in infrastructure development.

Dindo Manhit, president of Stratbase ADR Institute, said more inter-governmental partnerships should be pursued, but still, be guided by the Philippine independent foreign policy and national interests.

“The current administration must ensure that it safeguards the Philippines from potential economic, financial, and security risks…by ensuring that appropriate studies are conducted on the feasibility and sustainability of projects that it engages in,” Mahit said.

Manhit urges the government to increase its efforts in building and modernizing the infrastructure network while further improving the ease of doing business and creating a more enabling regulatory development for both local and foreign investors to be involved in.

Cosette Canilao, Aboitiz InfraCapital president and CEO and the former head of the Public-Private Partnership (PPP) Center, said the participation of the private sector in infrastructure projects provides several benefits such as increased financial capability, availability of technology, and managerial competence and efficiency if public-private contracts are done right.

“[As] PPP investors, we look for projects that are bankable – where risks are fairly allocated between the government and us. And we prefer investing in a market where there is a very steep commitment by the government to undertake an effective PPP program,” Canilao said.

“What we are hoping for next is the speedy evaluation and approval of numerous projects in the pipeline. It will also augur well for the private sector if there is clear and consistent communication of directions and timelines when projects are expected to be evaluated or approved. A longer term, proactive, and relevant infrastructure strategies are essential to maximizing the capabilities of private institutions,” she added.

Source: Philstar