DOTr Secretary Jaime Bautista (Photo courtesy of DOTr)
MANILA – The Department of Transportation (DOTr) is looking to the private sector to help complete several transport infrastructure projects in need of additional funding through the Public-Private Partnership (PPP) scheme.
During the general meeting of the American Chamber of Commerce of the Philippines (AMCHAM) on Wednesday, DOTr Secretary Jaime Bautista said recent amendments made in the implementing rules and regulations (IRR) of the Build-Operate-Transfer (BOT) law provide a “balanced sharing between the government and private sector.”
“We are therefore actively pursuing the PPP scheme to overcome financial challenges for these vital transport projects,” Bautista said.
These projects include the privatization of the Epifanio Delos Santos Avenue (EDSA) Busway, a network of seaports, 10 provincial airports, and the Cebu Bus Rapid Transit, among others.
He expressed confidence in using the PPP scheme and noted that recent amendments to the law ensure that “PPP will not be disadvantageous to Filipinos.”
“[These projects will] increase Filipinos’ efficiency and productivity by providing safe, affordable, convenient, and accessible transport,” he said.
He said the PPP scheme offers “reasonable rates” of return on investments, incentives, support, and undertakings for private sector partners.
He cited San Miguel Corporation, the private sector partner in the construction of the New Manila Airport in Bulacan and the Metro Rail Transit Line 7 -- both being built at speed.
Participation of members of the AMCHAM in the DOTr’s transport projects, he said, would also boost bilateral ties between the Philippines and the United States.
On Tuesday, he also invited members of the Swiss Chamber of Commerce of the Philippines to invest in big-ticket infrastructure and transport projects in the country.
Earlier, Bautista said the Marcos administration is looking at PPPs to help cut financing for several large-scale projects to rebalance cash flow following large expenditures due to the Covid-19 pandemic. (PNA)
