Marcos admin focuses on infra for economic growth

Filipinoentrepreneurs are encouraged to tap the 1.4 billion Chinese market, the largest in the world, as China appoints its new premier tasked to reinvigorate China’s economy from the impacts of the pandemic.

Finance Secretary Benjamin Diokno shared with the American Chamber of Commerce of the Philippines (AmCham) the Marcos Jr. administration’s infrastructure development agenda through the National Economic and Development Authority (NEDA) Board’s recent approved list of Infrastructure Flagship Projects (IFPs).

“Central to the Marcos Jr. ad- ministration’s growth strategy is infrastructure development.

From this year until 2028, we aim to keep infrastructure spending above 5 percent of [gross domestic product] annually,” Diokno said during AmCham’s General Membership Luncheon Meeting at the Dusit Thani Hotel Makati on March 17.

The Philippines currently has PHP9 trillion worth of high-im- pact IFPs aimed at improving physical and digital connectivity, water resources, health, power and agriculture infrastructure.

“We expect to see a surge of quality and resilient jobs over the next few years as a result of these high-impact projects,” Diokno said.

To support the country’s spending needs, Diokno shared the government is committed to pursue the path of fiscal consolidation through the Medium-Term Fiscal Framework (MTFF).

Public-Private Partnerships (PPPs) will also play a signifi-

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