Ilocos Norte eyed as economic hub in Southeast Asia
The Philippine Star
March 9, 2025
MANILA, Philippines — The Public-Private Partnership (PPP) Center and the provincial government of Ilocos Norte have teamed up to promote the province as a key economic hub in Southeast Asia through the implementation of PPP projects.
In a statement, the National Economic and Development Authority (NEDA) said a memorandum of agreement (MOA) was signed on Feb. 28 at the PPP Center office in Quezon City.
The event was led by PPP Center executive director Ma. Cynthia Hernandez and Ilocos Norte Gov. Matthew Marcos-Manotoc, with NEDA Secretary Arsenio Balisacan and PPP Center deputy executive director Jeffrey Manalo in attendance.
The MOA aims to improve infrastructure development and spur economic growth in Ilocos Norte by focusing on a robust pipeline of PPP projects.
The parties will be working together in the various stages of the PPP implementation process, including project review, approval, procurement, implementation and monitoring.
To transform the province into an economic hub in the region, there are plans to revive international flights to China, Hong Kong and Taiwan from the Laoag International Airport.
This would boost tourism and increase connectivity between Ilocos Norte and major international markets.
In addition, the partnership will push for policies to support the agriculture sector through the organization of cooperatives to promote sustainable agricultural practices.
The parties will also work together in promoting innovations in renewable energy, data centers and manufacturing to encourage both local and global investments and create high-quality jobs.
“By leveraging the strengths of both the public and private sectors, we can mobilize resources, enhance efficiency and ensure long-term sustainability in our development efforts,” Balisacan said.
He said PPPs play a crucial role in accelerating economic growth and the PPP Center can facilitate the implementation of such projects.
The government is pushing for PPPs to address the country’s infrastructure gaps and tap into the private sector’s expertise.
“I hope the activities outlined in the MOA and the lineup of proposed projects by the provincial government inspire other local government units and implementing agencies to explore PPPs as a means for rapid and sustainable economic transformation,” Balisacan said.
No comments:
Post a Comment