Tugade offers BBB to UK investors

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Department of Transportation (DoTr) Secretary Arthur Tugade has urged British investors and businessmen to invest in the Philippines.

At the Philippine Economic Briefing in London held last 25 September 2018, Tugade presented the government’s Build Build Build (BBB) program, the high impact projects under it and the profitable opportunities that the Philippines is offering. The massive infrastructure program is envisioned to strengthen the economy, increase incomes, and improve the investment climate that will lead to more job opportunities for Filipinos.

He explained that building bridges, roads, and modern transport systems is vital in an archipelagic country like the Philippines in terms of enhancing interconnectivity and mobility to promote growth and develop industries.

“Without infrastructure, there will be no connectivity. Connectivity must come in terms of bridges, roads, and farm to market roads. Connectivity must come in water-shed and effective facilities,” Tugade said.

The DoTr has completed one international airport in Cagayan and is set to inaugurate one more in Panglao, Bohol within the year. The Bicol airport in Albay is being constructed, while airports in Bulacan and Sangley are being proposed to complement Ninoy Aquino International Airport and Clark.

The secretary also shared the DoTr’s vision to complete 1,900 kilometers of railways from Luzon to Mindanao and the country’s first subway system that will break ground in December and be constructed starting next year.

In addition, the government is also committed to building new cities. The New Clark City will house two world-class sports facilities, government buildings and a commercial center.

Phase 1 will be ready by October 2019 in time for the Philippines’ hosting of the Southeast Asian Games.

In conclusion, Tugade encouraged British stakeholders to come to the Philippines and invest. He assured them that it is safe to invest in the country because it has a government that does not tolerate corruption.

“I would like to encourage you to come to the Philippines and partner with us as we walk and as we do a quest on what our President calls the golden age of infrastructure,” he said.

The Philippine delegation was led by Finance Secretary Carlos Dominguez. Department of Public Works and Highways Secretary Mark Villar and Bases Conversion and Development Authority President Vince Dizon were also present at the briefing.

p: wjg

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