Marcus to LGUs: Press PPP as Project Financing Mode

President Ferdinand R. Marcos, Jr. has urged local government units to open up to Public Private Partnerships (PPP) as a way to finance their projects.

“I think this is the way forward, and I encourage all of our local government units to open up to the possibilities of public-private partnerships; to have PPPs, especially in your area,” the president said during a meeting with members of the Association of Cities of the Philippines .

Marcus said digitization will also play a large role in the public-private partnership, particularly in driving the country’s economic recovery and digital transformation.

“Digitalization would naturally be a good fit for something like a public-private partnership,” the president added.

At the same event, Marcus said he received offers to fund major projects as he encouraged local CEOs to be the “driving force” behind the country’s economic transformation. The president said there is official development assistance, a private sector and a joint venture.

“You are a local government, you already know that. Local government generally can’t do it alone. We have to find partners, we have to find local partners. He told local executives.”You are used to it. ” [You know that well.]

In an effort to expand its fiscal space without sacrificing infrastructure targets, Finance Minister Benjamin E. Diokno said earlier that the government is looking to open about 90 government infrastructure projects to PPP.

In his first State of the Nation address, Marcos said that public-private partnerships will also be tapped into energy projects, especially for small-scale nuclear projects apart from the usual infrastructure projects to help the country achieve energy security.

The Marcos administration pledged to maintain infrastructure spending at 5 percent to 6 percent of GDP as it expressed its commitment to expanding the previous government’s “Build, Build and Build” programme.

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