MUNI > TRENDS
Part of Philippine President Rodrigo Duterte’s 10-point Socioeconomic Agenda is reducing poverty rate from 21.6 percent in 2015 to 13 to 15 percent by 2022. In order to achieve this, infrastructure development is seen as a vital step, that’s why it is prioritized through the “Build, Build, Build” Program.
The “Build, Build, Build” program aims to modernize the country’s infrastructure through its 75 flagship projects worth $36 billion in investment. It also aims to boost economic growth, create jobs, increase incomes, and strengthen the investment climate in the Philippines.
The administration expects public spending on infrastructure projects to reach P8 to 9 trillion from 2017 to 2022.
The “Build, Build, Build” program focuses on the development, maintenance, and rehabilitation of roads and bridges, flood control, rehabilitation of airports, seaports, and mass transit, advancement of information and communication technology, and establishing new cities.
Some of the projects included in the “Build, Build, Build” program are the LRT 1 South (Cavite) Extension Project, construction of Broadband Backhaul Modular IT Facilities, building the Mega Manila Subway, and the establishment of New Clark City, among others. Click here to view the complete list of projects.
For some business tycoons and public officials, the “Build, Build, Build project” is something that is worth investing on. In fact, Department of Finance undersecretary Grace Karen Singson pointed out that the “Build, Build, Build” program will generate 1.7 million jobs by 2022. It can also contribute to the security of the Philippine’s fast-paced growth in the medium term.
Former senator Manny Villar added that infrastructure-driven development is a “propelling strategy” for most of the first world countries. “Government is essentially laying the groundwork for the future of the country, where we have efficient mass transport systems and modern roads to accommodate our burgeoning economy,” he said.
Meanwhile, Edgar Saavedra, president and chief operating officer of Megawide Construction Corp. MWIDE. PS., views the program as something “ambitious” but “needed.” However, Saavedra still believes in the said project’s vision.
See Other Articles: