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Manila Bulletin devider Business devider Diokno: PPP to help finance digital infra

Diokno: PPP to help finance digital infra

Published Oct 27, 2023 07:35 am

At A Glance

  • Strengthening public-private partnerships (PPP) can finance digital infrastructure projects and ease the government's financial burden.<br>Finance Secretary Benjamin Diokno presented the government's strategies for digital connectivity projects at the Global Gateway Forum in Brussels, Belgium on Oct. 26.<br>The government has reformed the policy framework of PPPs to overcome budget constraints in upcoming digitalization plans.<br>Significant infrastructure projects worth $154 billion, including five digital interconnectivity projects worth $1.7 billion, are in the pipeline.<br>Key projects include Digital Transformation Centers, National Broadband Program, National Government Data Center, Philippine Identification System, and Road Transport Information Technology Infrastructure Project Phase II.<br>To expedite digital implementations, addressing the digital divide, increasing public spending, attracting foreign investments, and utilizing PPPs for private capital and expertise are essential.

The Department of Finance (DOF) said that strengthening public-private partnerships (PPP) would help finance digital infrastructure projects and ease the government's financial burden.

On Thursday, Oct. 26, Finance Secretary Benjamin Diokno presented the strategies of the Philippine government to push digital connectivity projects during the European Commission-led Global Gateway Forum in Brussels, Belgium.

According to Diokno, the government has reformed the policy framework of PPPs to mitigate the budget constraints in constructing its upcoming digitalization plans.

To put it into perspective, Diokno elaborated that some of the infrastructure plans have a significant costly value, stating that “197 big-ticket projects worth about $154 billion. Out of that, five projects are connected to [digital] interconnectivity, worth about $1.7 billion.”

The big-ticket constructions included the Digital Transformation Centers (Upgraded Tech4Ed Project), National Broadband Program, National Government Data Center, Philippine Identification System, and Road Transport Information Technology Infrastructure Project Phase II (LTRFB IT).

To accelerate the digital implementations, the finance secretary said that they need to address the digital divide through higher public spending, opening the key sectors of the economy to foreign investments, and generating private capital and expertise through PPPs.

Moreover, simplifying public-private transactions is one of the few goals of the digital infrastructure projects.

“We recently consolidated all the laws on PPPs into one law, making the system more efficient, faster to implement, and simpler,” Diokno said.

The implementation of the projects has become the country’s main agenda in the list of priority infrastructure flagship projects.

“We are striving forward to ensure digital inclusion for all Filipinos and to foster an enabling environment for innovation,” said Diokno.

The digital initiatives would result in connecting the urban and rural markets, expanding supply chains, having a more simplified public-private transaction, and an upgraded educational system.

Besides the need for digital infrastructures, world leaders held parallel sessions regarding green energy transition and green hydrogen, education and research, critical raw materials, transport corridors, and the production of health products.

The two-day Forum welcomed 40 top government officials from the European Union (EU) and from around the world.

This also included the private sector, civil society, financing institutions, and international organizations to promote PPP investments.

Hosted by Ursula von der Leyen, the European Commission president, the Global Gateway forum opened discussions on sustainable development, good governance, transparency, and equal partnership.

The forum, which was established in 2021, is worth €300 billion.

Their program allows PPPs to shift to smart, clean, digital infrastructure, as well as provide a wider discourse on health and education systems through partner countries from around the world. (Gabriell Christel Galang)

Related Tags

Department of Finance (DOF) Finance Secretary Benjamin E. Diokno
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