By Othel V. Campos
Business groups said the private-public partnership program will play a huge role in infrastructure development based on the pronouncements made by National Economic and Development Authority Secretary Arsenio Balisacan during the Makati Business Club’s latest monthly series with economic managers.
“The only way to sustain massive infrastructure development is by tapping into the private sector, which is awash with capital,” Balisacan said, as he echoed the sentiments of the business sector in making the country attractive to foreign investments.
He said that as of December 2022, 98 public-private partnership projects were in the pipeline amounting to over P3 trillion. The government is evaluating them for subsequent approved by the NEDA Board.
MBC chairman Edgar Chua lauded NEDA for initiating revisions that successfully restored the attractiveness of PPPs, while noting the agency’s keen interest to amend the Build-Operate-Transfer Law.
“Secretary Balisacan and the government have our full support in transforming the economy to make a big leap in getting better lives and better jobs for Filipinos. We also support their efforts to navigate global economic headwinds and still-high inflation,” he said.
Balisacan said NEDA was hoping the amendments to the law would be instituted as early as June 2023.