MANILA, Philippines – The series of international roadshows conducted by the Aquino administration to drum up interest for major infrastructure projects has lured big Canadian and American companies to participate in biddings for Public-Private Partnership (PPP) projects in the country.
PPP Center executive director Cosette Canilao said the Philippines has successfully showcased close to 50 PPP projects worth about $21 billion during a roadshow in North America, including Toronto and Montreal in Canada as well as New York and Washington in the US.
“The roadshow attendees have expressed their interest to engage in the PPP program either as bidders, funders, operators, sub-contractors, or as consultants, among others,” Canilao said.
Canilao talked with Canadian Council for PPP (CCPPP) as well as P3 Canada in Toronto to discuss best practices and country experiences in implementing PPPs and in other areas such as strengthening of the legal and regulatory frameworks and capacity building.
She also met with several companies including Manulife Capital, C&I Constructive Edge, and Ontario Municipal Employees Retirement System (OMERS) to discuss the current investment opportunities in the Philippines.
More than 40 participants joined the forum.
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In Montreal, Canilao had a meeting with Canada’s largest pension fund manager Caisse de depot et placement du Quebec (CDPQ).
According to her, Manulife, OMERS, CDPQ, and PSP Investments are keen on assessing possible areas of investment in infrastructure and PPPs most likely through partnerships with local players.
Canilao also met with major companies including Blackrock, UTC-RAS, Globe Connect, and Eisner Amper in New York.
“Most of these companies have expressed their interest in vying for the country’s big-ticket PPP projects,” Canilao said.
Post-forum one-on-one meetings were also held with Hill International, Parsons, Tetra Tech and San Jose Construction.
The PPP Center intends to undertake one more international roadshow in Sydney Australia as part of efforts to encourage more foreign players to invest in the country’s PPPs especially that there is now a steady deal flow of investment opportunities and the country’s credit ratings are at an all-time high, as evidenced by major international rating agencies’ successive upgrades.
Canilao said the Aquino administration is set to roll out 18 PPP projects worth P407 billion before June next year as part of the inventory of over 50 projects already in the pipeline.
The roll out of PPP projects in the Philippines is in full swing after the award of eight PPP projects valued at P133 billion.
These include the Daang Hari – South Luzon expressway link road (P2 billion), PPP for School Infrastructure Project Phase 1 (P8.86 billion), the PSIP-2 (P16.28 billion), the modernization project for the Philippine Orthopedic Center (P5.98 billion), the Ninoy Aquino International Airport expressway (P15.52 billion), the automated fare collection system project (P1.72 billion), the Mactan – Cebu international airport expansion project (P17.5 billion), and the Light Rail TransitLine 1 Cavite extension project (P65 billion).
