MANILA, Philippines – The National Economic and Development Authority (NEDA) stated yesterday that provinces outside Metro Manila shall receive further infrastructure projects throughout the term as assured by the Philippine government.
According to a statement by NEDA, not less than 3,911 projects of the entire 4,985 projects of infrastructure included in the investment program of the government for years 2017 to 2022 have been determined to be region-specific. Those that have been specified to be inter-region are at least 98 projects.
The Autonomous Region of Muslim Mindanao or ARMM stands to acquire 1,340 infrastructure projects.
Dr. Ernesto Pernia, Socioeconomic Planning Secretary, noted that ARMM got the most number of infrastructure projects, which eliminates the impression that the administration’s plans and projects are focused in Metro Manila alone.
The required investment amounts to 3.32 trillion pesos for the inter-regional and 1.164 trillion pesos for the region-specific projects excluding Metro Manila, as mentioned by Pernia.
Pernia said the National Spatial Strategy (NSS) takes into consideration economic activities, account population progress, and services in establishing the desired spatial structure of the country. In line with the Philippine’s NSS, we are creating progress in enhancing connectivity and advocating economic clusters throughout regional as well as sub-regional growth centers with the help of these infrastructure projects.
This big project of the government in building infrastructure requires a total amount of 9.04 trillion pesos in investments in 6 years. Nonetheless, the entire amount does not cover investments in projects that will be funded exclusively by other sources such as local governments, private sectors, and corporations.
7.096 trillion pesos or 78 percent will be sponsored by the government coming from its annual allotment of funds, and this is due to the healthy macroeconomic fundamentals and stable financial position of the Philippines.
Currently, NEDA is balancing transportation investments based on the National Transport Policy (NTP). NTP synchronizes investments and decisions of agencies associated with transportation making the arrangement between the national and the local levels stronger.