Secretary Paderanga to Japanese investors: Time to invest in PPP projects
With investor confidence in the Philippines on the rise, Japanese investors should re-think their investment strategy to include the Aquino administration’s public-private partnership (PPP) on infrastructure.
Investor confidence in the Philippines is already improving, Socioeconomic Planning Secretary Cayetano Paderanga Jr. said at the JETRO (Japan External Trade Organization)-PPP seminar Friday.
“Now is the time to consider taking advantage of the investment opportunities in the Philippines. Investor confidence in the Philippines has lately been improving, leading the international financial community to rate the Philippines as the third most preferred market in the world for global fund managers,” Paderanga noted.
Such confidence reflects a collective affirmation of the government’s current reform agenda, he said.
Paderanga told an audience of mostly Japanese businessmen the Philippine economy remains robust and resilient, growing by 3.7 percent in the fourth quarter of 2011, from 3.1 percent in the second quarter and 3.6 percent in the third quarter.
“We expect such steadfast resilience, supported by initiatives in good governance, to help the country move forward in a sustained manner,” he said.
The Philippine government working to improve the business climate in the country, including initiating amendments in laws and policies that affect investors, the Philippine official said.
“To enhance private sector investments in development projects, the government has already initiated the necessary amendments to the existing Build-Operate-Transfer Law for a more transparent and level playing field,” he added.
Paderanga also reiterated the 16 PPP infrastructure projects that the government is working on.
Sixteen PPP projects in the pipeline include airports, roads and railroads, and water projects, According to the PPP Center.
“We have the Laguindingan Airport in Misamis Oriental, the new Bohol Airport, Mactan Airport, Puerto Princesa Airport, the LRT Line 1 and Line 2, and the BALARA water hub and Angat Hydro Electric Power Plant for its operation and maintenance,” the center noted. — VS, GMA News