Build, build, build to boost economic growth in Vismin
Opportunities for growth and development in the Visayas and Mindanao continue to abound, which prompts many to take a close look at the many and varied perspectives here. Over the past decade, many have started betting big on VisMin, as evidenced by the influx of businesses and developments, making the locations here even more attractive to investors and settlers.
It has also helped the government’s ambitious P 8 trillion build, build and build program, which aims to bring the country into a golden age of infrastructure, accelerate this transition to other centers. keys outside the capital region. Of the 104 flagship infrastructure projects listed, 23 are located in Mindanao and 16 in the Visayas. These projects, although some are still under construction, remain promising for the country’s economic recovery.
In Bohol, for example, the Bohol-Panglao International Airport, which opened in 2018, was seen as a stimulus for economic growth in the region before the pandemic. The country’s first “eco-airport” has been dubbed “the green gateway to the world” because it features environmentally sustainable practices and green technologies.
Thanks to a public-private partnership (PPP) program, the airport is expected to be modernized and operated by the infrastructure business unit of the Aboitiz group after the approval of its proposals by the National Authority for Economic Development and Development in December. 2019.
In June last year, the Japan International Cooperation Agency (JICA) announced that the governments of Japan and the Philippines had officially signed loan agreements totaling 154.1 billion yen, or about 72 billion yen. of pesos, for two large-scale projects.
Of this amount, 119 billion yen (55.8 billion pesos) would finance the Cebu-Mactan Bridge and Coastal Road, which aim to reduce traffic congestion in the province by connecting the city of Mandaue to Cebu and the city of Lapu-Lapu in Mactan. This should be completed by January 2028.
Some 34.8 billion yen (16.3 billion pesos) would meanwhile be allocated to the 44.5 km construction project of the Davao City Bypass, which aims to expand urban areas within the land, divert traffic from the city’s existing urban center and facilitate transport access to ports and airports. .
To help solve Cebu’s traffic problem, the government has started construction of the 74 km Metro Cebu Expressway, also known as Cebu Circumferential Road, which connects the city of Naga in the south with the city of Danao. in the north of the province. Travel time is expected to be reduced by at least an hour from the usual three to four hours.
Other major government projects in Mindanao include the highly anticipated Mindanao Railway Tagum-Davao City-Digos segment, a 100 km portion of Mindanao’s largest rail network, which spans 830 km. This project, which is expected to reduce the travel time from Tagum City, Davao del Norte, to Digos City, Davao del Sur, to 1.3 hours from 3.5 hours, is still in its first phase of development.
Intended to further alleviate traffic congestion in Davao City, connect areas with centralized passengers and goods such as the port and airport, and improve transportation in the region, the Davao Highway Project , amounting to 69 billion pesos, is expected to stimulate economic and social development in Mindanao. The 29 km motorway project is currently subject to Neda’s approval.
In the city of General Santos, the industrial complex or Aerotropolis of General Santos City airport, valued at 959 million pesos, is expected to position Soccsksargen as a major international gateway to Mindanao. To extend around General Santos Airport, the proposed 200 ha Aerotropolis will be an integrated complex with business parks, amusement parks, hotels, a food terminal, processing and manufacturing facilities. food and shopping malls.
Sources: Inquirer Archives, Dotr.gov.ph, Lamudi.com.ph, Minda.gov.ph, Neda.gov.ph, Jica.go.jp
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