PPP a pillar to sustained Philippine growth
Government spending in the Philippines’ public-private partnership (PPP) programme is a driving force behind the country’s phenomenal growth, banking giant Standard Chartered has said. With more projects getting ready to roll out, this element of the Philippine growth machine looks like to remain intact.
For the first two years of President Benigno Aquino III’s administration, the public castigated him for the snail-pace that the PPP center was taking to get its first projects out the door.
Now, with three out as of last year, major Philippine-led conglomerates with multinational partners are competing for the next big ticket.
The extensive Cavite-Laguna expressway project, designed to decongest traffic in southern Metro Manila, is being competed for by San Miguel Corp, Metro Pacific and AlloyMtd Group, Malaysia’s second biggest toll-road operator. Ayala Corp is also reported to have interested in submitting a pre-qualification bid, which is due September 26.
The benefits of PPPs can be manifold as well. The Cavite-Laguna expressway’s intended alleviation of traffic will not just be in southern Manila, but surrounding provinces, providing an added boost because the region is the country’s second-largest contributor to GDP, making up 17.4 per cent of the total.
The Department of Public Works and Highways will finance P35.42 billion for a 47-kilometer stretch, but the project will be taken on in full by the winning bidder.
Government spending in the Philippines’ public-private partnership (PPP) programme is a driving force behind the country’s phenomenal growth, banking giant Standard Chartered has said. With more projects getting ready to roll out, this element of the Philippine growth machine looks like to remain intact. For the first two years of President Benigno Aquino III’s administration, the public castigated him for the snail-pace that the PPP center was taking to get its first projects out the door. Now, with three out as of last year, major Philippine-led conglomerates with multinational partners are competing for the next big ticket. The extensive Cavite-Laguna...
Government spending in the Philippines’ public-private partnership (PPP) programme is a driving force behind the country’s phenomenal growth, banking giant Standard Chartered has said. With more projects getting ready to roll out, this element of the Philippine growth machine looks like to remain intact.
For the first two years of President Benigno Aquino III’s administration, the public castigated him for the snail-pace that the PPP center was taking to get its first projects out the door.
Now, with three out as of last year, major Philippine-led conglomerates with multinational partners are competing for the next big ticket.
The extensive Cavite-Laguna expressway project, designed to decongest traffic in southern Metro Manila, is being competed for by San Miguel Corp, Metro Pacific and AlloyMtd Group, Malaysia’s second biggest toll-road operator. Ayala Corp is also reported to have interested in submitting a pre-qualification bid, which is due September 26.
The benefits of PPPs can be manifold as well. The Cavite-Laguna expressway’s intended alleviation of traffic will not just be in southern Manila, but surrounding provinces, providing an added boost because the region is the country’s second-largest contributor to GDP, making up 17.4 per cent of the total.
The Department of Public Works and Highways will finance P35.42 billion for a 47-kilometer stretch, but the project will be taken on in full by the winning bidder.
