ABSTRACT
The Philippine government is totally committed to private-sector participation in its development initiatives and recognises that a friendly business environment and investor confidence are critical factors in achieving the status of a newly industrialised country. Private-sector participation in implementing national infrastructure projects and in performing services traditionally provided by government is now legally recognised as the engine of economic growth and the key to improved efficiency in delivering public services. Even the government’s regulatory interventions are being rationalised to allow the private sector maximum flexibility in harnessing their creativity and expertise in entrepreneurial initiatives. The government’s policy environment, which is strongly supportive of this strategy, has two fundamental cornerstones.
