PHILIPPINE REAL ESTATE and RELATED NEWS in and around the country . . .

One-stop shop eyed for P180b projects

[ ] August 28-29, 2010

PRESIDENT Benigno Aquino III said Friday he has created a Public-Private Partnership Center that will serve as a one-stop shop for P180 billion worth of private-sector funded projects lined up for next year.

The center’s undertakings would ensure the country will meet its target of 7 to 8 percent growth in the gross domestic product next year, he said.

“PPP will be developed as an innovative policy tool to put dynamism into traditional public service delivery, particularly for infrastructure. We will make PPP work to create better value for our taxpayers’ money,” Mr. Aquino said.

“Through the PPP Center, we will be able to improve the quality of PPPs that will be up for tendering. It will also ensure that the approval process for PPP engagement will be completed within six months—instead of the usual tedious process that sometimes takes years to complete.”

Mr. Aquino also said he had earmarked P500 million in government subsidy to development projects to be implemented next year by third- to fifth-class municipalities.

The Interior Department would handle the fund for the projects, of which many were aimed at achieving the United Nations’ Millennium Development goals, he said.

The PPP Center has been tasked to provide technical assistance and help facilitate the development of project proposals, and it will be attached to the National Economic Development Authority.

“We are eyeing more PPP engagements particularly in infrastructure, where investments will yield a multiplier effect,” Mr. Aquino said. The priorities would include light rail systems, airports, roads and flood-control projects, he said. Joyce Pangco Pañares

real estate central philippines
Copyright ©2008-2018