PHL’s PPP a challenge to investors who want continuity assured

The Public-private partnership initiative in the Philippines can only succeed if government can assure investors projects would be sustained in spite of changes in the political landscape, an official of Asian Development Bank said Thursday.

 

"Investors need assurance that projects would be sustainable in the long term even if there are changes in the administration," said Aziz Haydarov, country economist of the ADB Philippine Country Office.

 

Haydarov spoke during the PPP and Infrastructure Forum and Mission in Makati City.

 

"… The Philippines is considered a challenging country for PPPs," Haydarov said, noting the private sector is "very welcome" to participate in the program with an open mind to various challenges, like political cycles.

 

"The pipeline is there, you are more welcome to participate and bring your knowledge and know-how," he said.

 

Representative of British companies Arup, GE Healthcare, IMC Worldwide, Kier Construction, KM&T, and Ryder Architecture noted during the forum they were interested to be a part of the PPP program.

 

PPP Center executive director Cosette Canilao urged the British companies to invest in the Philippines.

 

Kier managing director Paul Woodman said his company – a design, engineering, planning and consultancy firm – plans to extend its business in the ASEAN region by way of PPP.

 

"We are excited to hear opportunities in the healthcare and transportation sectors," he said.

 

Reforms in infrastructure finance instituted by the Philippine government and better a business environment enhanced by anti-corruption initiatives are factors attracting UK companies to invest in infrastructure projects, said British Ambassador to the Philippines Stephen Lilie.

 

"I believe the time is right to take this cooperation to a new level,” the ambassador said.

 

“The commercial opportunities in the Philippines are huge. The opportunities are large because the needs and expectations of the people are large. Investment now can be the platform needed for sustained growth in the years ahead," Lilie added.

 

The UK was one of the pioneers of PPP in the 1980s, using the program to deliver world-class infrastructure in the health and education sectors.

 

Lilie revealed the UK used to hold back on investing in the Philippines because of noticeable deficit in infrastructure.

 

"Since the PPP Center was established, we worked to share our expertise through the conduct of workshops and missions," Lilie added. — VS, GMA News