NextGen Day

Through the Partnerships for Infrastructure (P4I) program, the Australian government will assist the Philippines in luring investors for important infrastructure projects.

The P4I will provide infrastructure advisory support to the Philippine government, particularly in deciding what type of financing strategy should be used in a given project, which projects should be prioritized, and what technologies should be employed, according to Australian Ambassador to the Philippines Hae Kyong Yu PSM at the P4I’s launch on Friday in Pasay City.

The P4I will assist various government organizations in developing regulatory frameworks that will make important infrastructure projects appealing to private sector investment.

“We are aware that infrastructure investment needs a robust regulatory framework… While the government must make sure that standards are maintained and that assets are managed effectively, the private sector unquestionably requires the correct incentives to invest and create, Yu added.

The envoy claimed that this relationship between Australia and the Philippines can allow potential finance from Australian corporations and institutions in addition to offering consultancy services to make infrastructure projects appealing to the private sector.

Australia has a mandatory superannuation system, which means that 10% of every employee’s pay is contributed to a superannuation fund. This fund, which is similar to a pension, is now valued at AUD 3.4 trillion and is anticipated to reach AUD 9 trillion in the future. All that money needs a place to be invested, she continued.

When the government can offer the appropriate policies and a stable business climate to entice investors, Yu claimed that infrastructure projects in the Philippines can draw these funds from Australia.

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