Philippines: “Asia’s Next Bright Spot”

The Singapore’s government agency, International Enterprise (IE), that spearheads the overseas growth of Singapore-based companies and promote international trade hailed the Philippines as Asia’s next bright spot. International Enterprise (IE) stressed that the strong 7% GDP growth of the Philippines over the past two years has increased the world’s confidence in the country.

It has also acknowledged the positive contribution of Public-Private Partnerships in the Philippine economy.

“With an annual US$20 billion overseas remittances spurring consumer demand and US$17 billion worth of Public-Private Partnership (PPP) projects in the pipeline, the Philippines is Asia’s best growth story today”, IE added.

To encourage Singaporean companies to invest in the Philippines, International Enterprise produced “The Philippines: Asia’s Bright Spot iAdvisory Seminar” last November 12. In the seminar, Philippine government officials presented the infrastructure and consumer opportunities in the country.

Public-Private Partnership Center Executive Director Cosette V. Canilao discussed the PPP program and implementation updates during the “Opportunities in the Philippines’ PPP Sector’ session.

Canilao also presented the different PPP investment opportunities in the pipeline which include the newly approved projects by the National Economic and Development Authority Board last October 17. These are the Operations, Maintenance and Development Project of the Iloilo, Bacolod, Davao, and Puerto Princesa airports; Regional Prison Facilities through Public-Private Partnership Project and Davao Sasa Port Modernization Project.

Other projects for roll-out that were approved previously are Operations, Maintenance and Development of New Bohol (Panglao) and Laguindingan airport projects. The mentioned eight (8) projects have an indicative cost of Php 183.17 billion pesos or US $4.07 billion dollars.

After the iAdvisory Seminar in Singapore, the PPP Center will conduct a PPP Investment Forum in Melbourne and Sydney, Australia. Australian-based investors, operators, contractors, developers, lenders and fund managers are expected to attend the Australia investment roadshow.

Source: ppp.gov.ph

Image Credit: www.asean-investor.com