MANILA, March 18 -- The PHP170.6-billion Public-Private Partnership (PPP) agreement for the rehabilitation of the Ninoy Aquino International Airport (NAIA) is expected to herald economic growth through better collaborations with both local and foreign investors, Transportation Secretary Jaime Bautista said Monday.

At the signing of the concession deal between the Department of Transportation (DOTr) and the New NAIA Infra Corp. (NNIC) in Malacanang, Bautista said the PPP project would "open floodgates" of opportunities from investments, business, tourism, and employment.

"We welcome this development for the NAIA PPP Project as this will not only generate revenue for the government but it will also create opportunities for Filipinos. With...