President Marcos offered a preview of new infrastructure developments, emphasizing the role of the private sector and citing the successful bidding of Manila’s Ninoy Aquino International Airport (Naia) as a model for future projects.
“As a perfect example, the Naia PPP [Public-Private Partnership project] will go down in our history not only as among the largest and fastest approved PPP, but one that has set the bar in terms of openness, transparency, and competitiveness of the process,” Marcos said during his recent State of the Nation Address.
“Through this partnership, our foremost aerial gateway is now primed for a revitalization. Once considered as among the worst and most stressful airports in the world, it will soon be a world-class international airport that we can be proud of,” he added.
The Naia PPP was bagged by tycoon Ramon Ang-led San Miguel Corp. (SMC), one of the country’s largest conglomerates. Shares of SMC rose over 3 percent to P 99.50 a day after the SONA.
“Soon, it will be capable of accommodating 48 flights per hour, servicing our ever-increasing local and international flight routes, and catering to more than 62 million passengers per year,” Marcos said.
Apart from Naia, the President highlighted 70 other “airport and seaport development projects across the country [that] have been completed.”
“Another 350 ongoing projects are set to be completed by 2028,” Marcos said.
“Thanks to Congress, the Public-Private Partnership, as a crucial funding mechanism for big-ticket projects, is now institutionalized by force of law,” the President said.
