MANILA, Aug 10 —The Duterte administration’s Build, Build, Build program plays a crucial role in attracting investments into the country, a Cabinet secretary said during the fifth Dutertenomics Thursday.
Department of Trade and Industry (DTI) Secretary Ramon Lopez said the Build, Build, Build program invites investors to participate in the government’s infrastructure program, while improving public infrastructure that will be helpful in moving goods and people.
“Building the infrastructure will create a better working environment — efficiencies, logistics, ease of doing business,” Lopez said.
“You’ll need that [investments] to fund these [infrastructure projects] to lower cost [of business],” he added.
The DTI chief said as much as infrastructure projects are critical to the country’s business environment, preparing the industries to support the program is likewise crucial.
“Construction is another critical priority industry. And the priority industry is one that we’re preparing for to back up the Build, Build, Build aggressive infrastructure program of the government,” Lopez noted.
DTI has been implementing mechanisms to support the government’s Build, Build, Build program such as providing fiscal incentives to public-private partnership (PPP) projects registered with the Board of Investments (BOI)
BOI data showed that from January to May of this year, it registered some PHP48.5 billion worth of construction and PPP projects.
For last month alone, the investment promotion agency approved the PHP79.2-billion infrastructure project of San Miguel Corp.
The project involves the construction of 23-kilometer railway connecting San Jose del Monte in Bulacan and MRT-3 North Avenue in Quezon City as well as a 22-kilometer asphalt road from Bocaue Interchange of the North Luzon Expressway to intermodal terminal in Tala, Caloocan City.
Aside from giving perks, DTI also ensures the quality of construction materials like cement and steel by issuing Department Administrative Orders (DAOs) providing tighter rules on cement and steel importation. (PNA)