Philippine economic recovery and growth in the coming years is connected to the future of “Build, Build, Build”, according to several prominent members of the outgoing administration. The program has helped closed the country’s infrastructure gap but more work is needed on that front which means it could remain a key driver for the economy.
Department of Public Works and Highways (DPWH) Secretary Roger G. Mercado explained to the Philippine News Agency that President Rodrigo Duterte’s administration has taken the first steps toward elevating the Philippines’ competitiveness to improve the investment climate by coming up with the “Build, Build, Build” program, adequately investing in infrastructure to support and sustain the country’s growing economic activities.
He added there was still much work to be done and that the incoming administration must continue the program so it could benefit the country while supporting Philippine economic recovery and growth.
The DPWH reported that at least 19 big-ticket flagship infrastructure projects will be completed by the end of Duterte’s term on June 30. Additionally, another 12 projects are on track to wrap up before year-end.
Some have warned that deemphasizing or scrapping “Build, Build, Build” would harm Philippine economic recovery and growth as well as make the country a less attractive destination for overseas investment.
Clark benefits from “Build, Build, Build”
Foreign investment continues to come into Clark with many firms drawn to the region by the “Build, Build, Build” infrastructure program. These plans are helping transform it into a large metro outside of the National Capital Region. Projects, such as the Clark International Airport expansion, have made the area more viable to overseas companies.
According to the Clark Development Corp. (CDC) Business Development and Business Enhancement Group, foreign investment in Clark rose by 43 percent last year when compared to 2020.
National Economic and Development Authority Officer-in-Charge Undersecretary for Investment Programming Group, Roderick Planta, told the Philippine News Agency that many of the infrastructure projects under the “Build, Build, Build” program are benefitting Central Luzon. This, in turn, is attracting greater investment into Clark.
Related: Clark hailed as a smart, green and disaster-resilient metropolis
