In a significant move set to transform the aviation scene in the Philippines, Prime Asset Ventures, Inc. (PAVI), led by real estate magnate and former senator Manny Villar, Jr., is undertaking a mission to rehabilitate and operate the Iloilo International Airport. This ambitious initiative aims not only to refurbish the existing infrastructure but also to ensure its sustainable operation for years to come.
Negotiating the Future: DOTr's Response and Timeline
The Department of Transportation has responded to PAVI's proposal with cautious optimism. In a letter dated May 6, Enrique Antonio Esquivel III, assistant secretary for aviation and airports, informed Mayor Jerry Treñas of the commencement of evaluations on April 26, 2024. The negotiation process, anticipated to span 80 calendar days, with a possible extension of up to 150 days, involves key stakeholders such as the Civil Aviation Authority of the Philippines (CAAP) and the Public-Private Partnership (PPP) Center. The aim is to finalize the negotiations within the stipulated time frame before submission to Transportation Secretary Jaime Bautista and the CAAP Board for approval.
Overcoming Regulatory Hurdles: Navigating the PPP Code
PAVI's journey towards revitalizing the Iloilo International Airport has not been without its challenges. The passage of Republic Act 11966, or the PPP Code of the Philippines, posed a setback to the initial proposal. The regulatory framework outlined in the PPP Code, which came into effect on Dec. 23, 2023, and its implementing rules and regulations on April 7, 2024, necessitated a re-evaluation of the project's approach. However, despite these regulatory challenges, PAVI remains committed to navigating the environment and ensuring the successful implementation of its vision for a renewed, modernized, and sustainable Iloilo International Airport.
As negotiations unfold and regulatory challenges are addressed, all eyes are on PAVI and its partners as they strive to usher in a new era of aviation excellence in the heart of the Philippines.
