Investing in Transportation Infrastructure in the Philippines
The Philippines ranked 112th among 138 countries studied for quality of infrastructure, well behind many of its Southeast Asian neighbors. This posed a major hindrance to the country’s projected growth trajectory and its goal of increasing the prosperity of its citizens.
To address this, in June 2017, the Milken Institute convened a Financial Innovations Lab in Manila, bringing together leaders from private equity funds, commercial banks, local government, development finance corporations, and institutional investors. Participants focused on the change needed to remove impediments and facilitate a more robust transportation infrastructure in the Philippines. Specifically, participants suggested policy and financial solutions to address project development delays and the lack of government capacity to develop public-private partnerships. Other recommendations included the development of a national infrastructure plan, fixes in the tender process, and an increased focus on creating a more enabling environment to attract private investment.