Gov’t reiterates commitment to PH infra dev’t
MANILA, Philippines – National Economic and Development Authority (NEDA) Director General Arsenio M. Balisacan said the government’s strategy of accelerating infrastructure development is one of the keys in sustaining the country’s robust economic performance and improving international business confidence.
Balisacan gave the assurance at a forum on financing options for public-private partnerships (PPPs) on Friday, April 24.
He said under the Philippine Development Plan (PDP), the overall strategy of the government for infrastructure development is to increase public infrastructure spending from 2.7% of the gross domestic product (GDP) in 2013 to at least 5% or about P826 billion ($18.68 billion) by 2016 in order to support the growth requirements in the coming years.
As such, various master plans have been formulated to guide the development and implementation of infrastructure projects and other development interventions, he said.
Based on the Comprehensive and Integrated Infrastructure Program (CIIP) 2013-2016 and beyond, the priority programs and projects for the infrastructure sector comprises a total of 3,077 projects with total investment requirements of about P6.58 trillion ($148.82 billion), broken down to:
- Nearly P3 trillion ($67.85 billion; 45.4%) allocated for the development of the country’s transport system covering air, land, and water
- P1.37 trillion ($30.98 billion; 20.8%) for social infrastructure to ensure the protection of public health and the environment; improvement of access to quality health and education facilities; and access to decent housing and services
- Over P1 trillion ($22.62 billion; 15.4%) for the equitable and efficient management of water resources
- P847 billion ($19.16 billion; 12.9%) for sustainable, diverse, and reliable energy sources
- P89 billion ($2.01 billion; 1.3%) for the provision of fast, reliable, and affordable Information and Communications Technology (ICT)
The revision of the Build-Operate-Transfer (BOT) Law Implementing Rules and Regulations (IRR) and the Joint Venture (JV) Guidelines, are also pursued to streamline government processes, to make the business environment conducive to investments, and to address constraints and bottlenecks in infrastructure provision, Balisacan said.
Balisacan added that the government has undertaken new policy measures to boost public infrastructure spending by tapping private sector participation in public infrastructure development.
“Through private sector investments under the country’s pioneering PPP Program, public resources can be freed up and be utilized for the provision of much needed social services,” he said.
He added that there is no better way to ensure the future success of the country’s PPP program than by bolstering greater collaboration between the government, the private sector, and other stakeholders.
“Let’s use this unique opportunity to share our knowledge and see how we can help one another in moving forward to realize our shared vision and goals for the Philippines,” he said. – Rappler.com