Cabinet secretaries hold DuterteNomics forum

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Highlights

  • PHL gov’t to spend P3.6 trillion in public infrastructure projects from 2018 to 2020
  • Mega Manila Subway Project, a 25-kilometre underground mass transportation system running from Quezon City, Mandaluyong, Pasig and Taguig with 13 stations — Mindanao Avenue, North Avenue, Quezon Avenue, East Avenue, Anonas, and Katipunan in Quezon City; Ortigas North and Ortigas South in Pasig City; Kalayaan Avenue in Makati City; Bonifacio Global City, Cayetano Boulevard, and Food Terminal Incorporated in Taguig; and the Ninoy Aquino International Airport in Pasay City
  • Philippine National Railways (PNR) North Rail construction connecting Tutuban in Manila with Clark in Pampanga
  • PNR South Rail connecting Manila with Calamba and Los Baños in Laguna, and the Bicol region
  • Mindanao Rail connecting Tagum with Davao and Digos cities
  • Cebu Bus Rapid Transit
  • Luzon Spine Expressway that would cut travel time between Bicol and La Union in less than 12 hours
  • Runway Manila, the country’s first 220-metre-long pedestrian bridge that offers convenience to commuters allowing the average person to walk the distance between the NAIA Terminal 3 and Newport City in three minutes
  • New Clark City to be built as the country’s first and only smart and green metropolis

MANILA (PNA) — The Department of Finance and the Presidential Communications Operations Office, in partnership with the Center for Strategy, Enterprise & Intelligence (CenSEI), hosted the DuterteNomics forum at Conrad Manila in Pasay City on Tuesday, April 18, 2017.

Executive Secretary Salvador Medialdea, in his welcome remarks, said the forum is intended to shed light on the economic policy of President Rodrigo Roa Duterte. He also said the economic policy of the President is anchored on the 10-point Socioeconomic Agenda which is aimed at creating an inclusive and dynamic economy for the country which is pro-poor.

Finance Secretary Carlos Dominguez III, in his keynote speech, highlighted the need to implement a comprehensive tax reform program and to boost infrastructure spending to spur the growth of the country’s economy.

The Finance Secretary also projected that the Philippines could become an upper middle income country by 2022 and a high-income country by 2040 once the tax reform is implemented and the infrastructure has been put in place.

With an improved economy under President Duterte’s leadership, the Finance Secretary declared that the investments on human capital will improve as well as the education and health programs.

Secretary for Socioeconomic Planning and National Economic Development Authority (NEDA) Director General Ernesto Pernia, meanwhile, cited the need to decongest Metro Manila by improving the infrastructure development as well as the business opportunities in various key urban centers throughout the country so that the development would be distributed to different regions.

The NEDA Director General also highlighted the benefits of increasing infrastructure spending citing that it would lead to the increase of the Gross Domestic Product as well as job generation.

Moreover, Presidential Communications Secretary Martin Andanar, in his message, said the infrastructure program that will support the President’s economic policy will usher in the golden age of infrastructure in the country.

As for the budget for the implementation of the infrastructure projects, Budget Secretary Benjamin Diokno revealed that PHP8.4 trillion is needed for the infrastructure projects. The budget will then be sourced from the tax collections as well as funds from the Official Development Assistance and loans.

Outlining the different infrastructure projects under the Build! Build! Build! Program was Public Works and Highways Secretary Mark Villar, Transportation Secretary Arthur Tugade and Bases Conversion and Development Authority (BCDA) President Vince Dizon who revealed the various projects that are aimed to streamline transportation as well as strengthen the country’s disaster resilience.

Presidential Spokesperson Ernesto Abella, for his part, announced that the website www.build.gov.ph is now online to provide transparency for the different projects under the Build! Build! Build! program.

The Presidential Communications Secretary then hosted a question and answer portion to further provide details on the President’s economic policy.

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