Teves: PPP will be enhanced under Binay presidency

Aformer Arroyo Cabinet member thinks that Vice President Jejomar C. Binay would do a better job with the implementation of Private-Public Partnership (PPP) programs than the current administration if the latter becomes Chief Executive.

“A Binay presidency will continue the economic reforms, as well as enhance the Private-Public Partnership (PPP) programs that the present administration had started,” reckoned ex-Department of Finance (DOF) secretary Margarito “Gary” Teves.

Teves is the current treasurer of the United Nationalist Alliance (UNA), the country’s primary opposition faction that is chaired by Binay.

The Vice President is expected to be the party’s standard-bearer come 2016.

According to Teves, Binay “will actively push for measures that would hasten the implementation of projects under the PPP scheme.”

He said these measures include amendments to the Build-Operate-Transfer Law, Right-of-Way Bill, as well as cures to bureaucratic inefficiencies.

Teves also noted that PPP projects under the Aquino administration have been “beset by inadequacies and several delays resulting in underspending on infrastructure, which is a key driver of the economy”.

“VP Binay is for faster decisionmaking within the bounds of our law; he is for aggressive, yet prudent, spending. He will focus on the proper implementation and monitoring of projects and programs that will help achieve higher and sustained economic growth which is more inclusive,” said UNA’s coffee guardian.

“As an experienced chief executive, VP Binay takes a pragmatic approach on administration and development. He believes that social programs should be implemented only if there are corresponding revenues to finance and sustain them,” he added.

Binay sat as Makati City mayor for 20 years before he won the vice presidency in 2010. Makati is home to the Philippines central business district.

IIF concerns Meanwhile, Teves – once dubbed the “Best Finance Minister” in Asia by London-based international finance magazine, “The Banker” – quelled fears from the Institute of International Finance (IIF) that a Binay leadership would bring “uncertainty” to the country.

“Based on his policy speeches and our interactions, we believe that the IIF’s reservation towards a Binay presidency is unfounded,” he said, noting that the UNA bet will soon reveal his action plan in the coming months.

“I feel that they have some reservations about the VP’s programs and platforms but that is understandable as the campaign season has not officially started,” Teves said.

“But that will soon change, as the VP will begin rolling out his economic plans that will actively push for inclusive economic growth,” he added.

The IIF had said that a Mar Roxas or Grace Poe presidency would continue the Aquino administration’s plans but is uncertain if Binay emerges victorious in the 2016 national elections.

Market-oriented presidency Teves further sold the idea of a Binay administration, saying it would be “market-oriented rather than populist”.

“In fact, he is in favor of amending the economic provisions of the Constitution to attract more foreign direct investments (FDIs), which, in turn, will generate more jobs for Filipinos,” said the Arroyo-era Finance chief.

“Contrary to IIF’s belief, a Binay presidency will continue to implement President Aquino’s programs, for as long as these are above-board and benefit more Filipinos,” Teves said.