Misamis Oriental’s Laguindingan Airport is one of among four public-private partnership (PPP) projects up for bidding before July this year.
Also to be privatized are the Metro Rail Transit Line (MRT) 3 and Light Rail Transit (LRT) Line 1. Implementation of phase two of the Ninoy Aquino International Airport (NAIA) expressway is also in the shortlist. The total worth of the four projects amount to $579 million, data from the Investment Relations Office (IRO) showed.
The latest list was bared in Tokyo on Tuesday where several Cabinet members attended gatherings of business leaders from both countries, the IRO said.
Auctions of other airport projects in Bohol, Puerto Princesa and Bicol have been reportedly postponed.
Investors in Tokyo were told they were “indispensable partners” in the Philippines’ development as infrastructure was “crucial in aiming for a better business environment as this will ensure a smooth and quick turnaround of goods and services at less cost,” Trade Secretary Gregory L. Domingo was quoted in a statement as saying.
Finance and central bank officials also highlighted the Philippines’ “high economic growth and low inflation” and efforts to address the budget deficit, the IRO said.
The Cabinet members reportedly went on to conduct one-on-one meetings with investors as well as officials from Japan’s Ministry of Finance, Japan International Cooperation Agency and Japan Bank for International Cooperation.
The Aquino government has made PPPs a centerpiece program given its lack of revenues and the country’s infrastructure gaps.
Laguindingan Airport is set to operate next year.
with article by Jessica Anne D. Hermosa of Business World