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An essential role for PPP in infrastructure development: PBBM

On Wednesday, President Ferdinand Marcos Jr. recognized the value of public-private partnerships in the country’s critical infrastructure development process.

Marcos stated in his remarks during the grand opening of the new passenger terminal building at Clark International Airport (CRK) that the airport’s cutting-edge amenities are an ideal illustration of what the public and private sectors are capable of.

To maximize the resources of both the public and private sectors, the President again underlined the significance of public-private partnerships.

Eto yung laging namin pinag-uusapan na PPP (public-private partnership). How do we leverage the assets of the government and the private sector? How do we put it together and get synergy out of it? And so this is a perfect example of what the government and the private sector can do. “This is a significant event for several reasons.

The CEO is certain that the new passenger terminal building at CRK and other PPP projects will attract foreign investors to the Philippines.

To improve the lives of our people and the Philippine economy, he continued, “This is one of the things that we will continue to do in the future to bring you all to come and be partners with the Philippines.”

The project’s entire cost, funded in 2015 and constructed in December 2017, is PHP19.25 billion.

The Luzon International Premiere Airport Development (LIPAD) Corp., a private consortium made up of Filinvest Development Corporation, JG Summit Holdings Inc., Philippine Airport Ground Support Services Inc., and Changi Airports Philippines (I) Pte., was given the contract to manage and operate Clark International Airport. Changi Airports International’s wholly-owned subsidiary, Ltd.

According to Frederick D. Go, president and CEO of Robinsons’ Land Corporation and the chairman of LIPAD, “We are so delighted that His Excellency is inaugurating this new terminal today and signaling to the Philippines and the globe that the new CRK is open for business. We aim to keep pushing for network growth above pre-COVID levels, linking Clark to additional domestic and international locations. With local and international travel returning, CRK has begun tracking new growth rates.

Francis Gotianun, director of LIPAD and Filinvest Development Corporation, shared three things that the CRK stands for, which he referred to as the “3Ps”: “promise fulfilled through the full commercial operations of the airport, partnership as LIPAD’s investment in CRK represents the company’s participation in nation-building, and finally, the passion of the people who remained steadfast and kept the wheels turning despite the challenges posed by the airport’s location.”

Aileen R. Zosa, president and CEO of the BCDA, asserted that the CRK is a game-changer because it is anticipated to have a significant positive impact on the economy.

The new terminal, a joint initiative of the BCDA and the Department of Transportation (DOTr), will further solidify the Subic-Clark Corridor’s status as a significant logistical hub in the nation, increasing this area’s appeal to both domestic and global investors, according to Zosa.

According to Zosa, “the existence of this airport is also predicted to produce 150,000 new jobs for Filipinos, spanning multiple sectors and ancillary industries, such as the hospitality, food and beverage, agriculture, and manufacturing sectors, to mention a few.”

Delfin Lorenzana, chairman of the BCDA, stated: “Today, we have this cutting-edge terminal that will significantly improve how Filipinos travel—a terminal where all passengers would feel like VIPs. This is now a reality, not just a far-off fantasy.

The inaugural ceremonies were concluded with a feast of Central Luzon cuisine, emphasized by the delicious Kapampangan delicacies that have made Pampanga one of the top destinations for tourists and foodies to visit and experience.

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