Noynoy invites Brunei leader to invest in RP's PPP program

Hanoi, Vietnam – President Aquino has invited his Brunei counterpart, Sultan Yang Dipertuan Negara Hassanal Bolkiah, to invest in the Philippines under his public-private partnership (PPP) program.

Secretary Ricky Carandang of the Presidential Communications Development and Strategic Planning Office said the offer was made at the sidelines of the 17th ASEAN Summit and Related Summits, where the two leaders had a bilateral meeting Thursday.

The Cabinet member said the meeting, which he described as “a very casual discussion” was held at one of the numerous conference halls of the Melia Hotel here.

“The President invited Sultan Bolkiah and the Brunei Investment Agency to attend the public-private partnership conference in Manila next month,” Carandang said.

The PPP program was created through President Aquino’s issuance of Executive Order Number 8 transferring the Build-Operate-Transfer Center under the helm of the National Economic and Development Authority, in a bid to hasten the implementation of public-private partnership programs.

The center, which was named Public-Private Partnership Center of the Philippines, aims to accelerate the financing, construction and operation of key government infrastructure projects.

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.