President Ferdinand Marcos Jr. has 21 ongoing projects and two upcoming projects with the Economic Development Cooperation Fund of Korea under his Build Better More initiative.
Mr. Marcos said he’s optimistic about the government being able to improve connections among communities with the said projects.
On Friday, Marcos led the inauguration of the Panguil Bay Bridge, which connects Tangub City, Misamis Occidental and Tubod, Lanao del Norte. It is considered the longest sea-crossing bridge in the country.
Prior to completion, the 3.17-kilometer bridge faced numerous challenges. In his speech, Marcos noted that from conception to completion, the bridge took four decades.
“Years of planning, months of hard work, countless hurdles and now we stand before the realization of one of the flagship infrastructure projects of this administration,” he said.
He added that in 1998, a pre-feasibility study was conducted on the bridge, and in 2018, construction began. “This bridge encountered many challenges,” Marcos said.
He noted that the government had to “recalibrate” the project as it faced issues along the way, including funding problems brought on by the pandemic.
“We are not easily shaken; we do not get intimidated or discouraged by the obstacles in our way,” Marcos stated.
The Philippines has entered partnerships with the private sector through Public-Private Partnerships, as well as with the Japan International Cooperation Agency and the Economic Development Cooperation Fund of Korea, among others.
Currently, the Build Better More program is undertaking 194 infrastructure projects, including 77 projects from past administrations.
These range from public transport and power to health, information technology, water resources and agriculture. The total cost for the Build Better More program is P9 trillion.