Gov't to privatize NAIA — transportation chief

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Metro Manila (CNN Philippines, December 30) — The Marcos administration is pursuing the privatization of the country's main gateway Ninoy Aquino International Airport, Transportation Secretary Jaime Bautista said.

He said the government is working on provisions in the implementing rules and regulations (IRR) of the public–private partnership to make it "investor friendly."

"We'll see to it that we will attend to the requirement of the private sector that 'yung kanilang (their) investment will be worth it. Meaning they should have a reasonable return on their investment," he told media members on Wednesday.

One of the provisions is a "facility for mediation" in case of a dispute between the government and investors.

Bautista also said best privatization practices of other countries will be adopted.

"We have already talked to some interested parties and they are happy that we have introduced these provisions in the IRR," he said.

The transportation chief said next is the terms of reference, which will "define what we want for the airport."

"I always tell them that when we modernize our airport, it should conform with global standards," he said, citing air hubs of major Asian countries like Singapore and Hong Kong.

The government previously received two proposals from major groups to rehabilitate NAIA. Efforts were futile, however, as the previous administration rejected their offers.

READ: Rehabilitating NAIA: Where do we go from here?