Revisions to the Public-Private Partnership (PPP) program are expected to fund a sizeable portion of the Duterte government’s ambitious “Build Build Build” infrastructure program.
In a statement, Albay Rep. Joey Salceda of Albay said approval of House Bill (HB) 788 would enable the government to fund up to P6.3 trillion worth of big-ticket infrastructure projects.
The government, which has already identified 75 projects to be implemented during its six-year term, expects to spend some P9 trillion for “Build Build Build”.
Salceda claimed that HB 788, titled the PPP Rationalization Act, would propel and accelerate the implementation of the 2017-2022 Philippine Development Plan (PDP).
The measure calls for clearer parameters on government undertaking and investment recovery schemes, procedures on project approval and procurement, and fiscal rules on contingent liabilities.
Proposed reforms include clearer and simpler rules, the reduction of project timetables from 30 months to 18 to 24 months, and increased threshold amounts for PPP project approvals.
While the government has insisted that it would implement the projects itself under “Build Build Build”, Salceda said “the private sector’s resources are now awaiting investment opportunities that would translate to more jobs and higher economic growth.”
“Now is the time indeed to forge more public-private partnerships to deliver critical projects that will usher the country’s ‘Golden Age of Infrastructure’,” he added.
In a statement, Albay Rep. Joey Salceda of Albay said approval of House Bill (HB) 788 would enable the government to fund up to P6.3 trillion worth of big-ticket infrastructure projects.
The government, which has already identified 75 projects to be implemented during its six-year term, expects to spend some P9 trillion for “Build Build Build”.
Salceda claimed that HB 788, titled the PPP Rationalization Act, would propel and accelerate the implementation of the 2017-2022 Philippine Development Plan (PDP).
The measure calls for clearer parameters on government undertaking and investment recovery schemes, procedures on project approval and procurement, and fiscal rules on contingent liabilities.
Proposed reforms include clearer and simpler rules, the reduction of project timetables from 30 months to 18 to 24 months, and increased threshold amounts for PPP project approvals.
While the government has insisted that it would implement the projects itself under “Build Build Build”, Salceda said “the private sector’s resources are now awaiting investment opportunities that would translate to more jobs and higher economic growth.”
“Now is the time indeed to forge more public-private partnerships to deliver critical projects that will usher the country’s ‘Golden Age of Infrastructure’,” he added.
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