Her Excellency Laure Beaufils, British Ambassador to the Philippines; Executive Secretary Lucas Bersamin; Secretary Maria Antonia Yulo-Loyzoga; Secretary Benjamin Abalos, Jr.; friends and partners in the private sector; distinguished guests; ladies and gentlemen: a pleasant morning to all of you.

Let me begin by thanking the British Embassy in the Philippines, the Office of the President, the Department of Agriculture, and the Department of Environment and Natural Resources for co-sponsoring this important event with the Department of Finance.

As you are well aware, the Philippine archipelago is widely known for its rich biodiversity and vast natural resources. This includes one of the most valuable yet overlooked resources in the world: water.

Despite this abundance, many of our communities still suffer from a lack of potable water.

Others endure the devastating effects of flooding year after year due to climate change.

Meanwhile, many major cities exploit aquifers to the brink of depletion.

These tragic ironies are simply unacceptable and above all, unsustainable.

The Marcos, Jr. administration recognizes the urgent need to address these challenges head-on.

And we call upon the private sector to work together with us in forging sustainable solutions through investments in surface water sources.

Upon assumption, President Ferdinand R. Marcos, Jr.’s directives were clear.

His administration will champion public-private partnerships as they hold great potential to drive economic growth through infrastructure development and innovation.

The swift enactment of the PPP Code is a resounding testament to our commitment to fostering stronger collaboration with the private sector.

Along with the amendments to the Public Service Act, the PPP code rolls out a red carpet to investors, offering a stable, predictable, and competitive environment where high-quality PPP investments can thrive.

The PPP Code leverages over three decades of experience with the Build-Operate-Transfer Law. It integrates best practices to streamline processes, reduce transaction costs, and enhance the ease of doing business for PPPs.

The Implementing Rules and Regulations of the law are in the final stages and shall be released very soon. This will allow us to fully implement this game-changing measure and redeem its promises.

We offer an enticing menu of investment prospects for PPPs under the President’s Build Better More program.

It features 198 big-ticket infrastructure projects worth 8.8 trillion pesos or about 155 billion US dollars.

44 of these projects focus on water resources, amounting to 839.2 billion pesos or approximately 14 billion US dollars.

Officials from the Department of Environment and Natural Resources and the National Irrigation Administration are also here today to showcase government assets available for investments. They welcome proposals from the private sector.

I invite you to take a closer look at these projects and uncover the myriad of opportunities awaiting your partnership with us.

Along with this ambitious project portfolio, the government is actively pushing more reforms to cultivate an environment where PPP investments flourish even further.

The DOF is refining the Corporate Recovery and Tax Incentives for Enterprises Act to better address investor concerns and tailor-fit incentives for more strategic investments.

To improve the entire water ecosystem in the country, we are advocating for the passage of the Department of Water Resources Bill.

At present, there are over 30 agencies with redundant roles managing the country’s water resources. Their overlapping functions result in disjointed planning and uneven policy execution. These ultimately impede the stability of the nation’s water supply.

The proposed Department will serve as the primary agency responsible for the comprehensive and integrated water resources development and management in the Philippines.

In addition, the DOF is working closely with the Local Water Utilities Administration to ensure rigorous evaluation of water district tariff petitions. This is critical for helping our water districts become thriving customers of future bulk water supply projects.

We also partnered with the Department of Energy to invite here not only potential water infrastructure investors but also those interested in power projects.

Many assets managed by the National Irrigation Administration offer vast potential for multi-use applications.

While we prioritize addressing the immediate need for water security, we welcome investments that optimize the use of government assets for the betterment of our communities.

Beyond our readiness to host partnerships through reform policies, the most crucial aspect is establishing a strong economic foundation. This lays the groundwork for positioning the country as the premier investment destination.

In the Philippines, we offer you an economy that is geared for a period of rapid expansion despite external headwinds.

We are the fastest-growing among major economies in Asia. Our inflation rate is steadily decreasing. Our fiscal position remains strong and stable. We boast a vibrant, young labor market.

Clearly, now is the best time to do business with us. We invite the private sector to seize these opportunities eagerly awaiting at the table.

I trust that this event will serve as a springboard for fostering stronger partnerships between the government and the private sector.

Our collaboration will not only ensure water security. Above all, it will bring us faster and farther on the road to inclusive growth and a secure future for every Filipino.

Thank you.