Finance Secretary Ralph G. Recto highlighted that the recent signing of crucial agreements to jumpstart the fruition of five Public-Private Partnership (PPP) transportation projects is a monumental gift to Filipinos this Christmas.

Witnessed by President Ferdinand R. Marcos, Jr., the Concession Agreement between the Department of Transportation (DOTr) and the Aboitiz InfraCapital, Inc. for the Bohol-Panglao International Airport was signed on December 18, 2024.

This involves the upgrade, expansion, operations, and maintenance of the said airport spanning 30 years. The official turnover is scheduled for June 2025.

Also signed between the DOTr and the International Finance Corporation (IFC) were the Transaction Advisory Services Agreements for the New Dumaguete and Siargao Airports, the New Cebu International Container Port, and the Cebu Bus Rapid Transit.

The IFC’s transaction advisory services will help the government implement the PPP transactions and expand private sector participation.

The DOTr likewise awarded the Civil Works Contract Package for the New Cebu International Container Port to HJ Shipbuilding Corporation Co. LTD during the event.

“All these projects are a major win for the economy, for tourism, for the environment, for the private sector, and most of all, for the Filipino people,” Secretary Recto said in his speech at the Malacañang Palace.

“Dahil ang lahat po ng mga ito ay magbibigay ng mas maraming trabaho para sa ating mga kababayan. Mas mataas na kita para sa bawat isa. At higit sa lahat, mas maraming Pilipino ang mai-aangat natin mula sa kahirapan,” he added.

The Finance Chief emphasized that the three new and improved airport projects will boost the tourism industry and disperse the fruits of growth and modernization for Filipinos living on the islands of Bohol-Panglao, Dumaguete, and Siargao.

Meanwhile, the New Cebu International Cargo Port is set to strengthen the country’s maritime infrastructure and elevate the Philippines as a key trade and logistics hub in Southeast Asia.

On the other hand, the Cebu Bus Rapid Transit will deliver a safer, more secure, more efficient, and climate-friendly transport system to Cebuanos.

Secretary Recto assured the public that the Department of Finance (DOF) would continue to act fast on PPP projects so that the public could enjoy their benefits as soon as possible.

The DOF is responsible for evaluating solicited and unsolicited PPP proposals, which undergo a rigorous screening process before they are submitted to the Investment Coordination Committee (ICC) and to the National Economic and Development Authority (NEDA) Board, which the President chairs.

“And we will see to it that every project and every contract undergoes rigorous yet efficient scrutiny to ensure the utmost benefit for the Filipino people,” Secretary Recto said.

Mobilizing the private sector’s participation in nation-building through greater investments is among the strategic priorities of the DOF as part of its growth-enhancing fiscal consolidation plan.

The Finance Chief reassured private sector partners that the Marcos Jr. administration is more open than ever to their involvement in high-impact infrastructure projects.

“Because we recognize and trust in your expertise and capability to accelerate our nation’s progress,” he said.

The Finance Chief likewise assured the public that the five PPP projects signed today are just the beginning, with more set to come to fruition in 2025.

“Because this government is working non-stop to ensure that we are building more and better high-quality infrastructure projects that will connect every island, uplift every community, and ensure no Filipino is left behind. Wala pong maiiwan sa Bagong Pilipinas,” he said.

Present during the event were Korean Ambassador Lee Sang-hwa, Executive Secretary Lucas P. Bersamin, DOTr Secretary Jaime J. Bautista, Special Assistant to the President (SAP) Antonio Ernesto Lagdameo Jr., National Economic and Development Authority (NEDA) Secretary Arsenio M. Balisacan, Department of Tourism (DOT) Secretary Maria Esperanza Christina Garcia Frasco, Provincial Government of Cebu Governor Gwendolyn F. Garcia, Provincial Government of Bohol Governor Erico Aristotle C. Aumentado, and PPP Center Executive Director Ma. Cynthia C. Hernandez.

Also in attendance were President and CEO Sabin M. Aboitiz of the Aboitiz Group; President and CEO Cosette V. Canilao of the Aboitiz InfraCapital, Inc.; Vice President Emmanuel Nyirinkindi of the IFC; Regional Manager Thomas Lubeck of the IFC; and Mr. Kook Il Jeon, Authorized Representative of HJ Shipbuilding Corporation Co. LTD, and Civil Aviation Authority of the Philippines (CAAP) Director General Captain Manuel Antonio Lara Tamayo.