In a drive to stimulate inclusive growth and create jobs, the Aquino administration has urged private investors to be part of future major infrastructure projects. Public Works and Highways Secretary Rogelio Singson said planned spending on infrastructure would be raised to P800 billion in 2016.
The Philippine Government is looking for interested investors from the private sector to coordinate with them in accomplishing future projects such as the Cavite-Laguna freeway and the Laguna Lake road dike and spillway. Funding will also be directed into building and maintaining national roads, irrigation systems, bridges, port access roads, as well as flood-control projects across 45 provinces. Public-private partnerships (PPPs) are being seen as the most effective way to get these projects off the ground.
The European Union’s Directorate-General for Trade Helena Koenig responded to this announcement in saying ‘Western investors would be happy to learn of these developments, and that an increasing number of firms are keen to explore business and investment opportunities [and participate in] a more investor-friendly environment.’
