Filtered By: Money

Marcos invites private sector, says 74 PPPs worth P2.25-trillion in pipeline

President Ferdinand “Bongbong” Marcos Jr. on Thursday encouraged the private sector to take part in building the nation, saying that a total of 74 public private partnerships (PPP) projects worth P2.25 trillion are underway.

“We make a strong push towards infrastructure development with special emphasis once again on public private partnerships in key projects. As of August this year, we already have a total of 74 PPP project in the pipeline with a combined estimated cost of P2.25 trillion,” Marcos said during his speech at the 48th Philippine Business Conference and Expo in Manila.

“But we must do more because we need, I thus invite all of you to take part in the great enterprise of building our nation,” he added.

Marcos said his administration is pushing to enhance the business environment and allow the business sector to maximize the contribution to the revitalization of the country’s economy.

He then called on stakeholders to work together to create more infrastructure projects that will empower and strengthen the economy.

“We will need to work together in coming up with more infra project, more energy projects, more projects for our MSMEs, more projects for agriculture. All that will empower and strengthen both our economy and our nation,” he said.

The President said the government is committed to make the country a viable option for both local and foreign investors.

“We have tried to foster programs and projects that will shift the contribution to gross domestic product (GDP) not so dependent on the service side but perhaps also the manufacturing side. This will help us also in our trade and as we all know no country  grew wealthy except for trade,” he said.

He then said he will take necessary steps to strengthen the relationship of businesses with the government, consumers, and the public.

“Because despite extensive disruptions that we had to endure in the past two years, it has always been the entrepreneurs and the business sector who have steadfastly steered our direction towards economic success. You are the nation's agents of creativity, innovation, and progress,” Marcos said.

“After today, once deals have been closed, policies have been agreed upon, and bonds  have been renewed, forged, all of us can proudly tell the world, the Philippines is indeed open and ready for business again,” he added.—AOL, GMA News