To improve the environment and attract foreign investment so as to develop economy, the Philippine government intends to invest more than 400 billion pesos in the construction of infrastructure this year. It’s reported form the “Philippine Star” on 2014, March 24, in the economic briefing held by the Philippine government last week, the Minister of the budget Abad said the Philippines would invest in infrastructure construction up to 404 billion pesos this year accounting for about 3.1% GDP, while the investment was 288 billion pesos last year. Next year it plans to invest 587 billion pesos in infrastructure accounting for about 4% GDP. He said it would mainly invest in the infrastructure related to tourism, manufacturing industry, agriculture and fisheries, such as 52 key fishing ports which have been identified. Abad said that in order to sustain economic growth, the Philippine government would plan to invest 1,836 trillion pesos in infrastructure for the next three years, of which, 2014,2015 and 2016 would respectively invested 400 billion, 600 billion and 8,36 billion pesos. Abad said in the second half of the 2013, Philippine public-private partnership projects had achieved great progress. The projects with a total of 275 billion pesos had been passed all the year, in the future, investment in infrastructure will be mainly based on PPP project
Source:http://www.thorions.com/index.php?m=content&c=index&a=show&catid=28&id=410
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