As the COVID-19 pandemic continues to challenge public healthcare systems and disrupt social order, economies around the world are also suffering at an unprecedented rate. Governments must not only cushion the impact of the pandemic on their health systems, but they must also prevent their economies from collapsing. With the possibility of a severe global recession, world leaders have turned to their economic teams to device a sound and efficient economic recovery plan to survive and successfully emerge from the pandemic.
In line with this, the Philippine government has underscored the importance of continuing its flagship infrastructure development program to generate jobs, stimulate economic growth and recover from the initial economic impact of the pandemic.
According to Finance Secretary Carlos Dominguez, infrastructure remains to be the best driver of economic growth due to its multiplier effects in terms of employment and shared prosperity. However, with the current public health crisis, key infrastructure projects under the ‘Build, Build, Build’ Program are now at risk of being delayed or canceled. In light of this situation, the Philippine government must shift to more reliable sources and maximize the participation of the private sector through Public-Private Partnership (PPP) to increase the government’s capacity to meet the growing demand for infrastructure development. This would also allow the Philippines to address the economic impact of the pandemic and fast-track its economic recovery plan. This effort demands a transparent and collaborative discussion between the government and the private sector in order to align proper approaches and commit feasible participation.
As such, the Stratbase ADR Institute and CitizenWatch Philippines has teamed up with experts and industry leaders to conduct a virtual round table discussion (vRTD) entitled, “Addressing the COVID-19 Economic Impact through Public-Private Partnership”, to be held on 29 May 2020, Friday, at 9:30 am – 12:00 pm.
The vRTD will focus on the importance of utilizing the private sector through the PPP in addressing the economic impact of the pandemic. In addition, the experts will also discuss their insights regarding the current reality of the infrastructure sector in the Philippines and analyze the challenges and opportunities that come along with it.