Seven big-ticket infrastructure projects amounting to P150 billion to P200 billion is now awaiting for the approval of the National Economic and Development Authority (NEDA), government officials revealed last Thursday.
According to NEDA Director-General Ernesto M. Pernia, the Board is most likely to approve the seven projects by December in accordance with the Duterte administration's plan to ramp up infrastructure spending up to 7% of GDP.
Meanwhile, the NEDA Director did not elaborate as to the description of the seven projects but revealed that it includes the “modernization and relocation of Cebu port. ”
In September, the NEDA board led by Mr. Duterte approved P171-billion of contracts, including the upgrade of the Ninoy Aquino International Airport (NAIA), kick-starting its public-private partnership mill.
The Duterte administration is also seeking for fund assistance from foreign investors including that of China and Japan.
Source: An article by Ian Nicolas P. Cigaral as published in Business World Online