Metro Manila (CNN Philippines, August 4) — President Ferdinand “Bongbong” Marcos Jr. has urged local government units to be open to public-private partnership (PPP) as a mode of financing projects in their localities.
“I think this is the way forward, and I encourage all our local government units to be open to the possibilities of PPPs and to have private-public partnerships, especially in your areas,” he said in a meeting with members of the League of Cities of the Philippines on Tuesday.
Marcos has urged local officials to become the “driving force” to promote economic transformation.
PPP, whether monetary or non-monetary, can address the limited sources of funding for local infrastructure or development projects of the public sector. By exploring this partnership, LGUs can allocate funds for other priorities.
Marcos also told local chief executives that digitalization will play a big part as LGUs explore PPP, especially in pushing for economic recovery and digital transformation in the country.
The President highlighted the need for digitalization in his first State of the Nation Address, where he instructed the Department of Information and Technology to identify and fully utilize digital innovations to improve ease of doing business in the country.
The chief executive also said he has received offers to fund big-ticket infrastructure projects, including official development assistance and joint ventures.
“Local government generally cannot do it by itself. We have to find partners, we have to find local partners, we have to find investors. Sanay na kayo diyan [You are used to that],” he said.
