By Joann Santiago
MANILA, Sept. 3 (PNA) — Public-Private Partnership (PPP) Center Executive Director Cosette Canilao is optimistic that more projects will materialize in the Philippines with the help of the Cebu Action Plan.
Cebu Action Plan is a development road map for economies in the Asia-Pacific region that the Philippines is proposing to members of the Asia-Pacific Economic Cooperation (APEC) during the country’s hosting of the group’s meetings this year.
It promotes transparency and financial integration and aims to make economies more resilient.
Citing a study by the Manila-based Asian Development Bank (ADB), Canilao said the Philippines has a USD127-billion worth of infrastructure requirement from 2010-20.
Under the current administration, about USD24 billion worth of projects are identified under the PPP initiative.
Canilao said USD4.2 billion worth of projects have been awarded and USD11 billion worth are up for tender.
Total amount of these projects is a far cry from the ADB-estimated projects.
“There’s still a huge gap that we need to fill up. There’s a lot that we need to do,” Canilao admitted.
With the help of the proposals under the Cebu Action Plan, Canilao believes that more investors, like those from the United States, South and North America, would be encouraged to put their funds in the domestic economy.
She expects about 12 of the 14 projects up for bidding to be awarded until the end of President Benigno Aquino III’s term in mid-2016.
She also hopes that their performance would be replicated or even surpassed in the next administration to be able to meet the demands of the economy with about 30-40 percent of these to be implemented through PPP. (PNA)