NextGen Day

MANILA, Philippines — Former Defense Secretary and Senate hopeful Gilbert “Gibo” Teodoro wants to resurrect the public-private partnership (PPP) program so that crucial infrastructure can continue to be built around the country.

Teodoro said in a statement Monday that as the country recovers from the pandemic, the next administration should not cease investing in essential infrastructures that will spur economic growth and provide more jobs and livelihood for Filipinos.

“There are still a lot of holes in our physical infrastructure that need to be filled.” “However, in that sense, the PPP approach for infrastructure is there for,” he explained.

Those projects “with a reasonable rate of return for the proponent” should be placed under a PPP scheme, according to the former Tarlac representative and 1989 Bar more topnotch.

PPPs, according to Teodoro, can help the government handle its limited funding resources by allowing the private sector to contribute funds to help create the necessary infrastructure.

This will also aid in the reduction of the national debt, which stood at nearly PHP12 trillion at the end of February.

“It is crucial that the new administration pushes for additional PPP projects so that vital projects can continue without relying heavily on foreign funding.” In an earlier comment, the senate candidate for the UniTeam Alliance said, “The private sector has the capital, and they are ready to invest once they recognize these prospects.”

In a public-private partnership (PPP), the government collaborates with the private sector to supply public services such as roads, trains, seaports, airports, internet connectivity, and hospitals, among other things.

As of 2021, there are 63 PPP projects with a total value of PHP7.2 trillion, according to the PPP Center.

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