MANILA – The signing of agreements for five Public-Private Partnership (PPP) transport projects marks a significant milestone in the Marcos administration’s push for economic growth and infrastructure modernization.
The event, witnessed by President Ferdinand R. Marcos Jr. on December 18, 2024, saw the Department of Transportation (DOTr) finalizing multiple agreements to accelerate the implementation of major transportation projects.
Among these was the Concession Agreement for the Bohol-Panglao International Airport with Aboitiz InfraCapital, Inc. The 30-year deal includes the upgrade, expansion, and operations of the airport, with the official turnover scheduled for June 2025.
Finance Secretary Ralph G. Recto described the developments as a “monumental Christmas gift to Filipinos,” emphasizing their potential to create jobs, boost tourism, and reduce poverty.
“Dahil ang lahat po ng mga ito ay magbibigay ng mas maraming trabaho para sa ating mga kababayan. Mas mataas na kita para sa bawat isa. At higit sa lahat, mas maraming Pilipino ang mai-aangat natin mula sa kahirapan,” Recto said during the ceremony at Malacañang Palace.
Also signed were Transaction Advisory Services Agreements between the DOTr and the International Finance Corporation (IFC) for the New Dumaguete and Siargao Airports, the New Cebu International Container Port, and the Cebu Bus Rapid Transit.
The IFC’s role includes facilitating the PPP transactions and encouraging private sector investment.
Additionally, the Civil Works Contract Package for the New Cebu International Container Port was awarded to HJ Shipbuilding Corporation Co. LTD, signaling progress in maritime infrastructure aimed at elevating the Philippines’ status as a logistics hub in Southeast Asia.
“These projects are a major win for the economy, for tourism, for the environment, for the private sector, and most of all, for the Filipino people,” Recto said.
The Bohol-Panglao, Dumaguete, and Siargao airport projects are expected to drive tourism growth, particularly in the Visayas and Mindanao regions, spreading economic benefits to more Filipinos.
The Cebu Bus Rapid Transit project will bring a safer, more efficient, and environmentally friendly transport system to Cebu City, while the new Cebu port will support the country’s growing trade and logistics needs.
The Department of Finance (DOF), responsible for reviewing and evaluating PPP proposals, assured stakeholders of a rigorous yet efficient screening process for all projects. Recto noted that the administration remains committed to transparency and quality in implementing high-impact infrastructure initiatives.
“We will see to it that every project and every contract undergoes rigorous yet efficient scrutiny to ensure the utmost benefit for the Filipino people,” Recto said.
Mobilizing private sector investment in infrastructure is a cornerstone of the Marcos administration’s economic strategy. Recto reassured private partners of the government’s openness to collaboration, emphasizing their critical role in nation-building.
“Because we recognize and trust in your expertise and capability to accelerate our nation’s progress,” he added.
More PPP projects are set to roll out in 2025, as the administration works “non-stop to ensure that we are building more and better high-quality infrastructure projects,” according to Recto.
Key officials present at the event included DOTr Secretary Jaime J. Bautista, NEDA Secretary Arsenio M. Balisacan, and DOT Secretary Maria Esperanza Christina Garcia Frasco, along with representatives from partner organizations and local governments.
