The country is ready to privatize five regional airports by 2025 through PPP deals, said an official, to modernize the key gateways to air travel across the country and upgrade services in it.
The airport development will be done in partnership with private investors through upgrading of infrastructure, improving performance, and establishing sufficiency in responding to passenger demands. The identified airports will definitely act as a core in regional connectivity and developing the economy, thus fortifying the position of the country as a tourism and trading hub in Southeast Asia.
This is in line with the long-term infrastructure development strategy of the Philippine government, which focuses on public-private collaborations to speed up modernization projects. In this regard, the airports will be improved, with better facilities and streamlined operations.
The industry players anticipate that the program will attract home-grown and international bidders, following the expansion of the demand for high-level aviation infrastructure. Privatization is one of the great steps in dealing with the country’s increasing aviation requirements in terms of sustainable growth over the next few years.
