Philippine economic managers assure private sector of lots of funding opportunities under Duterte infra program

MANILA, April 25 - The private sector will not be left out under the Duterte administration’s infrastructure program on back of the decision to implement hybrid-type of projects, Philippine economic managers said.

During the DuterteNomics forum Tuesday night, Budget and Management Secretary Benjamin Diokno said the hybrid-type of projects would be constructed by the government but operations and maintenance would be given to the private sector.

He also said that the government would entertain unsolicited proposal for the infrastructure projects.

Unsolicited proposals entail that a private entity submits its proposal to the government for approval or otherwise.

>Diokno said there were lots of opportunities in the energy sector.

”Energy sector is totally private sector and we need USD 15 billion until 2030,” he said.

Diokno said current government’s infrastructure program amounts to around Php 8-9 trillion, which would be partly funded by borrowings, 80 percent of which will come from domestic fund sources and 20 percent from overseas.

Finance Secretary Carlos Dominguez III, during the same event, said the current government has taken the hybrid-type of infrastructure project implementation because it took an average of 29 months to negotiate projects in the past.

”What we are saying is we can do it a bit faster and we can borrow cheaper now,” he said.

Dominguez said the private sector could join in the project’s construction either in the middle of the process or at the end.

“Some investors don’t want to come in early but only towards the end of the projects when the construction risks are already past,” he said.

“In that way we can attract funds or the private sector can attract more investors,” he added. (Joann Santiago/PNA)

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