MANILA, Philippines - Investors lauded yesterday the first gathering of prospective participants in the Aquino administration’s public-private partnership (PPP) program, which attracted at least 500 local and foreign fund managers.
“It was well organized and well attended and filled with substance. I have never seen a Philippine government more serious about PPP,” said John Forbes, senior adviser of the Investment Climate Improvement Project of the American Chamber of Commerce. “It was a great start.”
The president of the European Chamber of Commerce of the Philippines, Hubert D’Aboville, described the two-day gathering as “excellent.”
“It was the first time I heard all (Cabinet) secretaries speaking the same language, singing the same tune, all behind the President,” D’Aboville told The STAR. “It is obvious that the problems have been well identified and solutions proposed.”
Forbes, however, noted certain problems: “Only a few projects are actually close to ready to go and bureaucracy needs expert help to prepare them. They still have quite a way to go to contracts and execution.”
“I hope foreign players will come in to provide balance and competition for big local players, who say they want to do everything,” Forbes told The STAR. “With PPP there’s room for lots of investors when the playing field is level.”
Finance Secretary Cesar Purisima hailed the business forum on the implementation of the PPP framework as a success. He said many investors expressed interest in the various projects in the pipeline.
“We’re very excited. There has been a lot of firm interest among investors,” Purisima declared.
Local businessmen also expressed support for the PPP projects of the government.
Philippine Chamber of Commerce and Industry (PCCI) president Francis Chua said they are willing to invest and even give discounts for construction materials needed for the infrastructure projects.
Federation of Philippine Industries (FPI) chairman Jesus Arranza also declared all-out support for the PPP projects.
