The province of Ilocos Norte is eyeing to attract more investors here following the signing of memorandum of agreement (MOA) with the Public Private Partnership Center (PPPC) Friday.
The MOA highlights a framework for collaboration in terms of project assistance, capacity building, and formulation of PPP policies and guidelines for trade and investment opportunities.
“By making Ilocos Norte government as an institutionalized partner, access to PPP project opportunities will be much easier and convenient,” Jefferson Baloaloa of the Ilocos Norte Investment Office told the Philippine News Agency in an interview.
Through the MOA, the Ilocos Norte government will be entitled support for PPP projects, including preparation, monitoring, access to training and development initiatives, inclusion of the province on the PPPC website, and a priority referral to various project opportunities.
Present during the signing in Quezon City were Ilocos Norte Governor Matthew Joseph Manotoc; PPPC Undersecretary and Executive Director Ma. Cynthia Hernandez and Assistant Secretary and Deputy Executive Director Jeffrey Manalo; and National Economic and Development Authority Secretary Arsenio Balisacan.
In an earlier statement, Balisacan said PPP plays a huge role in infrastructure development.
“The only way to sustain massive infrastructure development is by tapping into the private sector, which is awash with capital,” Balisacan said.
To promote public-private partnership matching and policies alignment, the Ilocos Norte government also recently signed a MOA with the Board of Investments (BOI).
The MOA with BOI aims to strategically position the province as a top investment destination for East Asian countries and a major commercial hub in northern Philippines, linking the northern and central parts of Luzon to Asian countries such as Taiwan, China, Hong Kong, Japan and South Korea. (PNA)
