DOF names more infra projects in Mindanao.
THE Department of Finance (DOF) announced the various infrastructure projects currently being worked on in the Mindanao area.
These are apart from the five infrastructure projects approved by the National Economic and Development Authority (Neda) for Mindanao area to improve economic production and transform the island into a major hub of agriculture and industry.
Finance Secretary Carlos G. Dominguez III reported during an economic briefing in Davao City last Friday the ongoing projects the government is currently implementing in Mindanao, apart from the five infrastructure projects planned to be implemented in the area this year.
'We also have ongoing big-ticket infra projects in Mindanao ready for completion,' Dominguez said during the Philippine Economic Briefing held at the SMX Convention Center in Davao City last Friday.
The Davao City Coastal Road is an 18.5-kilometer public works project to help relieve traffic congestion in the city. Construction for the project began last year and will be completed in 2022. It has a project cost of P19.8 billion.
The Mindanao Logistics Infrastructure Network involves the improvement of 2,567 kilometers of roads across Northern Mindanao, Davao, Soccsksargen (South Cotabato, Cotabato, Sultan Kudarat, Sarangani at General Santos City) and the Caraga regions. This network of roads will cost P98.15 billion when completed around 2019. The project was started in 2015.
'There are other strategic projects currently under study by our economic experts. Over the next five years, the Duterte administration expects to invest P8 trillion in new infrastructure,' he added.
The projects being implemented by the government was explained to help stimulate the country's economic growth in the short term, and support the development of a competitive economy over the long term.
'Of course, all government agencies are involved in the rehabilitation of Marawi City. A Bangon Marawi Comprehensive Recovery and Rehabilitation Plan is now in the final stage of formulation,' he said.
Dominguez added Mindanao will be the 'centerpiece' of the Philippines' unfolding growth narrative, with a slew of big-ticket infrastructure projects ready for rollout soon to improve economic production and transform the island into a major hub of agriculture and industry.