Gov't expects P372-B expenditures for super regions
Roxas City -- About P372 billion will be spent by the government starting 2007 until 2010 to propel its super region strategy through various catalyst projects for the identified investment and development areas to spur economic growth in the countryside and eventually lead the Philippines to achieving First World status in the next two decades.
The projects will include the construction of railways, raods, airports, seaports and irrigation projects.
The Western Visayas region, among the Central Philippine areas eyed for tourism development, will get its share for the various projects lined up for the realization of the super regions blueprint.
Particlarly, the island of Panay s growing tourism industry which generates several billions of pesos every year will benefit from the proposal.
Good roads to spillover destinations all over Panay, said President Arroyo, as included in the list of airports, world-class convention centers, more roll-on roll-off ports, other infrastructures, among others, to be built in the Central Philippines regions.
We have announced an extensive program of investment in our national infrastructure that will be implemented and financed through additional revenues being generated from the Governments tax reforms as well as partnerships with the private sector and our bilateral and multilateral partners, said Press Secretary Ignacio Bunye in a statement.
The investment in better infrastructure and services is part of the second phase of the Governments economic reform program where the benefits of hard-won fiscal reforms are focused on investing in initiatives that promote growth and help bring a better quality of life to our people. Our infrastructure investment program will lower the costs of doing business and boost productivity, making the Philippines a more appealing choice for the foreign investment we need to generate jobs and drive economic growth, Bunye added.
(PIA)