The Philippines is preparing a menu of at least 10 projects worth up to 200 billion pesos arrangement that it hopes to market to investors for development next year, the budget secretary said on Friday.
Florencio Abad said details of the 10 priority projects, out of an initial list of 70 projects, would be released in October. The projects include extending the existing light rail network in the capital, three airports in the central and southern Philippines, and irrigation projects to boost farm output.
"Aside from providing a catalyst to private investment, we also want to be able to conduct feasibility studies and craft unified infrastructure network plans," Abad said in a statement.
"We want to ensure that these projects are not one-offs but part of a wider plan for long-term development."
The two-month-old government of President Benigno Aquino has said it wants to attract local and foreign investors into PPP projects to fast-track the upgrade of the country's decrepit road and bridge networks and ease the financial burden on the cash-strapped government.
Manila is on course to hit a record budget deficit in peso terms this year of 325 billion pesos, or 3.9 percent of GDP.
The government has set aside 15 billion pesos in its 2011 spending budget proposal currently pending in Congress to support PPP projects, including right-of-way expenses and land and public facilities development.
http://ph.news.yahoo.com/rtrs/20100903/tbs-philippines-economy-ppp-8bedc88.html
|
