We often hear from every new administration about huge infrastructure projects that it will pursue to speed up the development of the Philippine economy and ultimately reduce poverty. Know more:
WE often hear from every new administration about huge infrastructure projects that it will pursue to speed up the development of the Philippine economy and ultimately reduce poverty. Yes, we know that the benefits of infrastructure projects on the economy are enormous in terms of creating jobs and new business opportunities.
The added employment and decelerating inflation combined during the initial phases of the construction period are expected to fuel consumer spending more. The new ranks of consumers will shop in the malls, travel and boost the countryside, and dine in fast-food restaurants, a development that speeds up the economic cycle. The completion of the infrastructure projects—airports, railways, toll roads, seaports and bridges—will naturally provide long-term benefits to the economy.
President Ferdinand Marcos Jr. spent a lot of time abroad to convince foreign governments and their businessmen to invest here and participate in the country’s infrastructure program. Transportation Secretary Jaime Bautista made a follow-up plea with European investors last week when he met with top officials of the European Union-Association of South East Asian Nations Council and the European Chamber of Commerce of the Philippines .
President Marcos, through the Department of Transportation, has dangled other infrastructure projects in the transport sector, such as railways, maritime and road, including the Metro Manila Subway, North-South Commuter Railway, LRT-1 Cavite Extension Project, MRT-7 and MRT-4.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hyundai, FIFA Renew Partnership | CarGuide.PH | Philippine Car News, Car Reviews, Car Prices
Read more »
Shining a spotlight on the rising stars of Philippine legislationThe House of Representatives is a vital institution in the Philippine government that embodies our vibrant democracy.Tasked with representing the
Read more »
Diokno says existing Philippine tax system must be preserved; review to continueFinance Secretary Benjamin Diokno on Tuesday said the Philippines&39; tax system must be preserved, but added that the country&39;s economic managers will continue to review it.
Read more »
Typhoon Betty weakens but flash floods, landslides may still occur due to habagatMANILA, Philippines — Typhoon Betty has slightly weakened as it moves over the Philippine sea east of northern Luzon, the Philippine Atmospheric, Geophysical and Astronomical Services
Read more »