The Philippines’s Public-Private Partnership (PPP) Program is now considered as one of the developed programs worldwide, according to a report released by the Economist Intelligence Unit (EIU).
In the 2014 Infrascope, titled “Evaluating the Environment for Public-Private Partnerships in Asia Pacific,” the EIU said the Philippines is ranked seventh out of 21 countries in the latest survey with a score of 64.6 in 2014.
In 2011 the Philippines was ranked eighth worldwide with a score of 47.1. The country is the only Southeast Asian country with a “developed” PPP Program.
“The Philippines moves up to join the developed group of countries in this study [it was classified as an emerging country in the 2011 study]. By finishing in seventh position, it is among those which have improved the most,” the EIU said.
The EIU noted that the country’s ranking improved because of a three-notch improvement in regulatory framework, which accounts for 25 percent of the overall score of countries.
The Philippines is now ranked fourth out of 21 countries in terms of regulatory framework with a score of 68.8. In 2011 the country was ranked seventh with a score of only 43.8.
Regulatory framework consists of consistency and quality of PPP regulations; effective PPP selection and decision-making; fairness/openness of bids; contract changes; and dispute-resolution mechanisms.
“It recorded the most-improved regulatory and institutional frameworks, and is one of the leading countries in the study for improved investment climate and financial facilities,” the EIU said.
“The Philippines has one of the oldest BOT [build-operate-transfer] policies in the Asia-Pacific region; has introduced a new subnational regulatory framework; and has used its increased capacity and transactional experience in recent years to promote capacity-building in emerging PPP markets within the region,” it added.
It also highlighted the country’s efforts in sharing to other countries its experiences and good practices in implementing the PPP Program.
The governments of Vietnam, Bhutan, China and Tonga, among others, have sent teams to the PPP Center to study the Philippines’s PPP Program.
Officials of the PPP Center have also accepted several invitations in the Asia-Pacific region to share
and promote the program and the PPP projects.
“The Philippines has used its increased capacity and transactional experience in recent years to promote capacity-building in emerging PPP markets within the region,” the EIU said.
The overall results of the 2014 Asia Infrascope show country rankings are based on the weighted sum of the six category scores, which are regulatory framework, institutional framework, operational maturity, investment climate, financial facilities and subnational adjustment.