Nobody’s buying Noy’s PPP, say ADB, expats 07/21/2011

Nobody’s buying Noy’s PPP, say ADB, expats

07/21/2011
Foreign investors remain reluctant to put money on the Philippines, particularly into the flagship Private-Public Partnership (PPP) projects of President Aquino, locally based western and Asian business leaders said yesterday.
A year into Aquino’s six-year term, the US, Europe, Australia, New Zealand, Japan and South Korean chambers said investors want stronger assurances that laws and policies were stable.

The comments came as the Asian Development Bank (ADB) said the country still suffered from red tape, weak rule of law and unpredictable policies, all of which are holding back foreign investments.

The ADB report, written by Aquino’s own Socioeconomic Planning Secretary Cayetano Paderanga, was a critique of the flagship PPP program of the government in which it stated that in the Philippines, PPPs have typically been shunned by business because of unclear policy and regulatory frameworks, a cumbersome government approval process, and a lack of bankable projects..... MORE

Source:  The Daily Tribune

URL: http://www.tribuneonline.org/headlines/20110721hed2.html