P2.4-T infra projects set for Mindanao–DOF

By Jasper Emmanuel Y. Arcalas @jearcalas

THE Department of Finance (DOF) said about 30 percent of the administration’s infrastructure flagship projects (IFPs) would be implemented in Mindanao with a total estimated cost of P2.4 trillion.

I n a Philippine Economic Briefing in Davao, Finance Secretary Benjamin E. Diokno said about 76 out of the 194 IFPs of the Marcos Jr. administration are located in Mindanao.

T he current administration’s 194 IFPs is estimated to be worth P8.3 trillion, Diokno added.

Let me repeat that, 2.4 trillion pesos right here in Mindanao,” Diokno said in his speech on Wednesday.

D iokno disclosed that the Mindanao projects include the Davao Public Transport Modernization Project, considered as the country’s first-ever network solution to urban congestion.

We also have the Mindanao Railway Project, the Samal IslandDavao City Connector Bridge, the Davao City Expressway, and the Panguil Bay Bridge, which will be finished by June next year,” he said. Increasing the capacity of our airports is especially critical to revitalize tourism, which is expected to be a significant growth sector for the Philippines,” he added.

D iokno emphasized that economic liberalization would “help” in closing the country’s infrastructure gap “more quickly” and could boost investments in renewable energy, telecommunications, toll roads, expressways, shipping, and airports.

“ These measures open new sectors for international firms to invest in. And these also allow foreign investors to form joint ventures with Filipinos, and facilitate knowledge and technology transfer,” he said.