MANILA – "Bureaucratic issues" such as red tape and security concerns in the south could turn off private investors from the government's revamped "Build, Build, Build" list of infrastructure projects, an analyst said Wednesday.
"We highlight some risk to that because it doesn’t mean that if you implement more PPP projects, private capital will naturally flow into these projects," said Fitch Solutions’ Infrastructure analyst James Su, referring to public-private partnerships.
"As a whole country there’s still bureaucratic issues that may hinder the progress of the projects so red tape is one of the common issue that a lot of project face when they try to move on to the next stage," he added.
President Rodrigo Duterte’s administration revised the list of flagship projects to 100 from 75, raising the number of PPP-funded items.
The Philippines has a "well-established" PPP framework compared to its ASEAN peers, Su said.