There are still ambitious infrastructure projects to be launched in support of the country’s transportation system, as the government continues working on logistics infrastructure development even as the end of its term looms, according to President Benigno Aquino III.
“Critical transport infrastructure like seaports, airports, bus terminals, and light rail transport continue to be upgraded, while big-ticket projects for transportation systems are in the pipeline,” Aquino said in a speech during the 23rd Pacific Economic Cooperation Council general meeting on September 11.
“This will not only ensure that the Philippines becomes more competitive, but that the benefits of trade, investment, and growth are able to reach even the most far-flung communities of the Philippines,” he added.
Aquino noted that in the past five years, the government has worked to improve the state of Philippine infrastructure, allocating a higher percentage of the country’s gross domestic product (GDP) for infrastructure development. He said the target is to increase the infrastructure budget to 5% of GDP in 2016 from the current 4% share.
Earlier, the government has proposed a P3.002-trillion national budget for 2016, of which P829.6 billion or 27.64% is allocated for economic services, with the bulk of this allocation to be spent on transport and communication infrastructure development.
The President also noted that a task force comprised of representatives from different agencies “is hard at work to alleviate traffic along Metro Manila’s thoroughfares.” Aquino recently ordered the Philippine National Police-Highway Patrol Group to take over management of traffic along Epifanio Delos Santos Avenue as part of government measures to ease traffic congestion in Metro Manila.
Aquino also took note of the passage of the Foreign Ships Co-Loading Act and Philippine Competition Act during his term, signed in anticipation of greater regional integration and to ensure that long-term growth prospects remain good.
The President said the ship co-loading law “will improve the transport of cargo for import and export,” while the competition act “will penalize all forms of unfair trade and prevent monopolies.”
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