'PPP program will be Asia's most successful by 2016'

Posted at 10/17/12 1:20 PM

MANILA, Philippines - Finance Secretary Cesar Purisima defends the alleged slow progress in the bidding out of public private partnership (PPP) projects. 

Purisima says though the bidding process of the Daang Hari Expressway project took 16 months, it's still the fastest bidding for an infrastructure project compared to the previous administration.

"We do have ambitious goal and we rationalized and dealt with constraints. We have an extensive pipeline already. We're confident bidding out of projects will be regular from now on. As we speak there are couple being bidded out, several being readied for bidding. The most important thing is we've solved administrative bottlenecks," he said. 

Purisima adds the administration's PPP program will be the most successful in Asia by the end of 2016.

"When the term of President Aquino ends in 2016, this will be most successful ever PPP partnership of any country in the region," he said. - ANC