Costing P1 billion or more each, the 78 projects are either in their pre-construction or construction phase, according to the DOF.
The STAR/Toto Lozano
P2.5-trillion infrastructure projects now off the ground
Mary Grace Padin (The Philippine Star) - July 14, 2018 - 12:00am

MANILA, Philippines — A total of 78 infrastructure projects with a combined cost of P2.5 trillion are already in various stages of implementation, the Department of Finance (DOF) said yesterday.

Costing P1 billion or more each, the 78 projects are either in their pre-construction or construction phase, according to the DOF.

The DOF said this pace of implementation is “faster than any other administration achieved in the past.”

The DOF bared these figures in its latest economic bulletin in response to criticisms from University of the Philippines School of Economics professor Emmanual de Dios.

De Dios earlier said contrary to the government’s 10-point economic agenda, which emphasizes the key role of public-private partnerships, the government is opting for official development assistance (ODA).

He also said the shift toward ODA “was not as fast as expected in kicking off infrastructure projects.”

“This is a matter of perception,” the DOF said adding that, “many of the documents for ODA projects have been signed and design of projects is ongoing.”

The DOF also said the government would still pursue PPPs for the operation and management of projects built using the General Appropriations Act and ODA funds.

The Duterte administration is embarking on an ambitious Build Build Build program to address the country’s infrastructure gap. The program will require P8 trillion to P9 trillion in investments over the medium term.

To fund this program, the DOF earlier said the government is planning to tap its development partners through ODAs.

The government will also seek the assistance the private sector through a hybrid public-private partnership (PPP) mode, which bids out the operations and maintenance component of the projects to interested parties.

According to economic managers, the administration’s infrastructure push may help the government sustain the country’s economic growth, encourage investments, generate jobs and ultimately, reduce poverty in the Philippines.

DEPARTMENT OF FINANCE INFRASTRUCTURE PROJECTS
Philstar
  • Latest
  • Trending
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

SIGN IN
or sign in with