World economic forum on East Asia: Phl to showcase big-ticket infra invesments

MANILA, Philippines - The Philippines is rolling out the red carpet for world leaders and global businessmen as it hosts the World Economic Forum (WEF) on East Asia, with plans to showcase the country’s infrastructure projects and how these big-ticket investments could significantly boost economic development, two key administration officials said in a round-table discussion with editors and reporters of The STAR Wednesday night.

“Here at the World Economic Forum, we hope to be able to open the Philippines to the world and show the past three years in terms of good governance, economic reforms and solid performance. Now is the best time to offer the Philippines as a good investment arena. It’s a good time to open our doors to World Economic Forum and APEC (Asia Pacific Economic Cooperation),” Department of Public Works and Highways (DPWH) Secretary Rogelio Singson said.

“We want to show that infrastructure projects really make a difference in economic development like in Singapore and Malaysia. They can see how much they can invest in infrastructure and they can really be assured that the Philippines has an understanding of what they are investing in,” he added.

The Philippines will host the 23rd WEF on East Asia from May 21 to 23 at the Shangri-La Hotel in Makati. President Aquino will give the keynote address. Vietnamese Prime Minister Nguyen Tan Dung, Indonesian President Susilo Bambang Yudhoyono and Myanmar’s Vice President U Nyan Tun will also lead the opening ceremonies, officials announced in a separate press conference yesterday.

Singson said the forum would be an opportunity for the Philippines to show progress in economic reforms and investment opportunities to more than 600 delegates from over 30 countries.

He said the Aquino administration is planning to increase infrastructure investments to five percent of the country’s economic output from the current 2.8 percent.

“We should up our investment in infrastructure from 2.8 percent to five percent of GDP, so five percent of GDP means more investment. The biggest spender in infrastructure is DPWH so everyone’s watching us because we are very much part of what affects GDP growth,” he added.

Singson said the department does not create projects out of whim, allowing them more savings for better projects ahead.

In 2011, DPWH was only able to convert 70 percent of what was allocated to them into contracts but in 2013, converted contracts rose to 91 percent, he explained.

Aside from the ongoing six Public-Private Partnerships (PPP) projects implemented, DPWH aims to start two more road projects this year, the Cavite-Laguna Expressway (CALAx) and the Central Luzon East Expressway (CLEx).

The 47-kilometer CALAx will run from Bacoor, Cavite to Canlubang, Laguna and will cost P35 billion. This major road, which will start its bidding on June 2, will allow people to have easier access in entering parts of the Calabarzon region.

Meanwhile, the 65-66 kilometer CLEx will lead toward Cabanatuan and San Jose in Nueva Ecija. The P28-30 billion project is expected to be completed in 2017 and DPWH has already charted its master plan including checking of roads that will be affected by the expressway.