The private sector is more than ready to take part in the ambitious “Build, Build, Build” program of the Duterte administration, but bigger challenges threaten to mar the road to infrastructure development.
– The private sector is equally enthusiastic about the government’s grand plans to develop roads, bridges, and mass transport, but challenges lie ahead in the road toward the “Golden Age of Infrastructure.”
“We fully support infrastructure like a lot of the chambers, but I think the challenges you face are very hard,” said Chris Nelson, executive director of the British Chamber of Commerce Philippines. “We fully endorse the direction – I just think the challenges are growing even more because the private sector is also going very strongly, which is great for you to try to meet.”
Economist and Albay Representative Joey Salceda thinks the private sector still needs to take giant steps to match government’s pace in construction. But the President’s economic team is not disheartened, with Transportation Secretary Arthur Tugade and Public Works Secretary Mark Villar ensuring that they are well on their way to catch up with full-year spending targets.
Tugade said the delayed budget held back about a third of transport projects, but they are getting back on track. He claimed that some train projects, including the country’s first-ever subway system, is even two months ahead of schedule. The Philippines has signed two loan deals with China – the Chico River Dam irrigation project and the New Centennial Water Source - Kaliwa Dam project – but only the former has been started.Both Tugade and Villar admitted that they would not complete all 75 projects by 2022, but both promised substantial progress three years from now.
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