President Ferdinand "Bongbong" Marcos Jr. encouraged local government units to be open to public-private partnership (PPP) as a mode of financing for projects.
"I think this is the way forward, and I encourage all our local government units (LGUs) to be open to the possibilities of PPPs and to have private-public partnerships, especially in your areas," Marcos told the League of Cities of the Philippines during a meeting in Malacañang on Tuesday, Aug. 2.
The President underscored that digitalization would play a big part in PPP, especially in pushing for economic recovery and digital transformation in the Philippines.
"Digitalization is (a) going to be a very natural fit for something like PPPs," he said.
He also urged the local chief executives to become the "driving force" to promote economic transformation in the country.
"But even at the national level, we are encouraging it. I hope that you continue to do that and be the driving force behind our economic transformation. I have always said that some of the best talent in government is in the LGUs, in the cities, in the governors, in the mayors," Marco said.
During the meeting, the Chief Executive also mentioned that he had received offers from other countries to fund big-ticket projects, including official development assistance (ODA) and joint ventures.
“Marami ring opportunities especially sa infrastructure. Marami sa ating mga kaibigan na galing sa iba’t ibang bansa– lalo na nung nag-courtesy call sa atin yung ambassador– marami silang ino-offer na tulong (There are many opportunities especially in infrastructure. Many from our foreign friends are offering help),” said Marcos.
"Well, you're (the)local government, you know that already. 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're already used to it),” he told local executives.
Apart from pushing for digitalization, Marcos highlighted that his administration would also put increased focus on infrastructure.