MANILA, Philippines - Malacañang has transferred the Build-Operate-Transfer Center under the helm of the National Economic and Development Authority (NEDA) in a bid to hasten the implementation of public-private partnership programs.
The center, which was named Public-Private Partnership Center of the Philippines under the newly-issued Executive Order No. 8, aims to accelerate the financing, construction and operation of key government infrastructure projects.
The center used to be under the Department of Trade and Industry.
The center is expected to: extend assistance to all local government units and other government instrumentalities in the implementation of projects, provide advisory services in project preparation and development, recommend policies with regard to program implementation, monitor all projects and programs, and manage and administer the revolving fund to be called the Project Development and Monitoring Facility.
The center is mandated to complete within 6 months the processing of qualified solicited proposals, but subject to to existing laws, guidelines, and rules and regulations.
The reorganization of the center has been one of the promises mentioned in President Benigno “Noynoy” Aquino III’s State of the Nation Address in July.
There, he said: “There is a need to fast-track the implementation of the Public-Private Partnership programs and projects as a cornerstone strategy of the national development to accelerate the infrastructure development of the country and sustain economic growth.”
The administration claims business confidence has reached new highs since it came into power more than 2 months ago.
This can be validated by the success of the sale of the first peso-denominated bond outside the country, Malacanang said. It raised about $1 billion, or about P44.1 billion, from the bond float.
The country expects to buttress this newly found confidence through Aquino’s first trip to the United States, scheduled on September 20 to 26.
Executive Order No. 8 also earmarks a P300 million working fund for the studies and activities of selected public-private partnership programs.
The current executive director of the BOT Center will lead the agency in the next 30 days until a new head is appointed, upon the recommendation of Socioeconomic Planning Secretary Cayetano W. Paderanga.
“Things are looking bright for the county despite our problems like the deficit, but we are already working on solutions,” Executive Secretary Paquito N. Ochoa Jr. said.
“This executive order is just the first of many steps this administration will take to provide our people with the infrastructure they need, the infrastructure required to make our country more attractive to investors,” he added.