Gov't approves new PPP projects for accelerated growth

MANILA, Philippines (Xinhua) - The government approved today a number of key Public Private Partnership (PPP) projects, mainly on infrastructure construction, in a bid to boost the country's economic development.

The projects approved by the National Economic and Development Authority (NEDA) Board cost a total investment of P141.06 billion ($3.2 billion).  

Key projects included Enhanced Operation & Maintenance (O&M) of the New Bohol (Panglao) Airport, Laguindingan Airport and Laguna Lakeshore Expressway Dike Project.  

The lack or absence of key infrastructure facilities has been one of the key constraints preventing the Philippines from achieving inclusive economic growth.

Apart from the new PPP projects, the NEDA Board also approved the Casecnan Multipurpose Irrigation and Power Project - Irrigation Component Phase in Central Luzon and the Umayam River Irrigation Project in Caraga, an administrative region of the Philippines on the northeastern part of Mindanao Island.