In a bid to encourage investments in the country, the government is targeting the approval process of any proposed public-private partnership (PPP) project within six months.

The reduced time for processing business requirements is part of the mandate of a one-stop center for privately funded infrastructure projects, according to President Aquino.

In a message attached to the proposed 2011 national budget submitted to Congress, the President affirmed his commitment to improve business environment so more private sector players can undertake PPP projects.

A PPP Center, under the National Economic and Development Authority (NEDA), would provide technical assistance and make easy the development of PPP proposals for high-impact projects, he said.

"Through the PPP Center, we will be able to improve the quality of PPPs that will be up for tendering. It will also ensure that the approval process for PPP engagement will be completed within six months, instead of the usual tedious process that sometimes takes years to complete," the President said.

“Government has a responsibility to create a stable and predictable environment. Only in such an atmosphere will the private sector flourish as main engine of growth,” he added.

The President, in his State of the Nation Address last month, bared plans to tap investors to fund roads and railways as a way to free funds for social services. The investment strategy was pushed by the President as his government faces a dearth of public funds and strives to plug the ballooning budget deficit.

In the 2011 budget proposal, the President said NEDA would be given an additional R50 million for value engineering studies to ensure that projects developed are "at the least cost and at the most efficient option."

He said NEDA and the Department of Finance will receive P5 million and p2 million, respectively, for capacity-building projects related to Contingent Liabilities Management in PPP projects.