Local biz, workers seen to benefit from P9Tn infra push
MANILA, PHILIPPINES — Many local businesses and job seekers are expected to benefit from the Php9 trillion (US$164 billion) Build Better More project rolled out by the Marcos administration.
According to the Federation of Philippine Industries (FPI), the infrastructure flagship projects (IFPs) within the project will give a “much-needed impetus” to struggling companies, particularly in the steel, cement, glass, and construction aggregates sectors.
FPI Chairman Jesus Arranza added that the government’s public-private partnership plan could potentially revitalize domestic industries affected by the economy and rampant smuggling.
Arranza also noted that the Philippine economy needs to be pushed forward after the recent spike in inflation.
“The government must take the lead in perking up the economy and inducing consumption. Investing heavily [in] priority infrastructure will create many new jobs, which is much better than giving dole-outs,” he said.
Among the big-ticket projects already set in motion are the 74-kilometer Metro Cebu Expressway and the Ninoy Aquino International Airport rehabilitation.
Additionally, 194 IFPs are currently being planned by the government, including the Metro Manila Subway project and the North-South Commuter Railway project.
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