The National Economic and Development Authority (NEDA) Board, upon the recommendation of the Investment Coordination Committee (ICC), is set to approve 31 infrastructure projects, which are eyed for completion in 2022.
Socioeconomic Planning Secretary Ernesto Pernia, in a recent speech, said these 31 projects set to be finished by 2022 form part of the 75 flagship infrastructure projects under the administration’s Build, Build, Build program.
The remaining 44 “will be completed beyond this administration’s term but may commence implementation during this administration,” Pernia noted.
As of November, 35 of the 75 infrastructure projects have been approved by the ICC and confirmed by the NEDA Board, chaired by President Rodrigo Duterte. These 35 projects have a total investment requirement of P1.54 trillion.
The Cabinet official said the Build, Build, Build program will be “gaining steam” next year.
“We are certain that the government’s efforts will pay off and we will see improvements in the state of the country’s infrastructure over the medium term,” Pernia said.
The Department of Finance earlier assured the public of the financial sustainability of the Build, Build, Build program, adding that the 75 projects will require a combined investment of US$36 billion (P1.8 trillion).
The flagship projects include six airports, nine railways, three bus rapid transits, 32 roads and bridges, and four seaports. All are seen to help bring down the costs of production, improve rural incomes, encourage countryside investments, make the movement of goods and people more efficient, and create more jobs.
The projects also include four energy facilities to ensure stable power supply at lower prices; 10 water resource projects and irrigation systems to raise agricultural output; five flood-control facilities to protect vulnerable communities and boost their resilience against the impact of climate change; and redevelopment programs that will deliver sustainable solutions to the needs of urban populations.
Some of these undertakings are the North-South Commuter Railway System, Philippine National Railway North 2 (Malolos-Clark Airport-Clark Green City Rail), Clark International Airport New Terminal Building Project, Iloilo Airport, New Cebu International Container Port, New Bohol Airport, Bacolod Airport, Panguil Bay Bridge Project, Laguindingan Airport, Davao Airport, Mindanao Rail Project (Phase 1)-Tagum Davao Digos Segment, Mega Manila Subway Project, and Subic-Clark Railway Project.
