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The Advancing Philippine Competitiveness (COMPETE) Project aims to assist the Philippines improve its competitiveness to attain higher levels of trade and investment. To this end, the project provides technical assistance to enhance the regime for infrastructure provision, improve productivity in key industries, and increase access to credit.
COMPETE is a USAID/Philippines project under the Partnership for Growth (PFG), a White House signature initiative through which the U.S. Government and the Government of the Philippines work together to improve economic growth and development in the Philippines. The five-year, $22.39 million project seeks to increase domestic and foreign investment levels, creating more employment opportunities and infrastructure.
In the infrastructure sectors, technical assistance will enhance the viability of the Philippine Government’s public-private partnership infrastructure program, advance a reform agenda to lower transport, logistics, and energy costs, and improve regulatory capacity and oversight of infrastructure development.
For the priority tourism sector, activities will support the effective implementation of the 2011-2016 National Tourism Plan, particularly in efforts to develop strategic destination areas and tourism clusters.
In agriculture, COMPETE Project will advance a policy agenda to promote agri-food export competitiveness and provide technical assistance to boost productivity.
To promote the use of productive capital, the Project will expand access to credit for small and medium enterprises (SMEs) – particularly with an improved system of credit information for SME lending, wider utilization of credit guarantees, and overall stronger borrowing capacity for entrepreneurs.
By contributing to improved infrastructure, increased growth and productivity in key priority sectors, and better use of productive capital, project activities are expected to improve the country’s competitiveness, leading to higher levels of trade, investment, and employment.
The COMPETE Project facilitated $4.54 billion worth of investments in infrastructure, power, and enterprise development, including two large Public-Private Partnership (PPP) projects.
Under the government’s National Tourism Development Plan, the Project helped prioritize Tourism Development Areas and develop plans to improve infrastructure and tourism products. COMPETE also contributed to significantly increasing tourism road infrastructure financing - from $15 million in 2010 to $444 million in 2015.
For power, the project facilitated aggregate power supply agreements for electric cooperatives in Central Luzon, Ilocos and the Cordilleras. The $3.3 B worth of investments will provide additional 1,650 MW capacity and yield 30% cost reductions.
In agribusiness, the COMPETE Project supported a cacao production-purchase agreement to cover 6,000 hectares benefiting 6,000 families, and seaweeds upscaling to cover 4,500 hectares, benefiting almost 2,000 farmers in Palawan.
The COMPETE Project also supported the training of 114 SMES in the preparation of business plans and partnered with banks for the provision of $41 million worth of loans.
To support higher economic growth through interventions in infrastructure, power, tourism, agribusiness, manufacturing and domestic credit.
- Improve quality of crucial infrastructure, particularly for transport and energy
- Enhance competitiveness of key industries, such as tourism and agri-business
- Improve access to credit through direct and indirect programs in the capital markets
Last updated: August 17, 2016