NEDA bares P57.9-B WV infra projects
Some 57.9 billion worth of major infrastructure projects are either on going or in the pipeline in Western Visayas, said National Economic Development Authority 6 (NEDA 6) Regional Director Arturo Valero.
During the recent Philippine Economic Briefing held here in this city, Valero identified the on-going infrastructure projects in the region which included the P4.3 billion Iloilo Flood Control Project, P1.9 billion Bago River Irrigation Project, and P0.5 billion Arterial Roadlines Development Project: Iloilo-East Coast - Capiz Road.
Also, on-going are the Southern Philippines Irrigation Sector Project: Magballo-Balocotoc - Canlamay Integrated Irrigation Sub-Project, P0.2 billion; Kabankalan City Domestic Airport, P0.8 billion; Metro Iloilo Radial Road, P0.7 billion; Widening of Iloilo City-Sta. Barbara Road, P0.6 billion; and International Commercial Port Complex (ICPC) Wharf Extension Project, P0.3 billion.
The infrastructure projects still on the pipeline are: the Panay River Flood Control Project (P4.5B); Revival of Panay Railway (P31B); Visayas Bridges (P0.1B FS); Caticlan - Capiz Road (P1.4B); Northern Panay Backbone Project (P1.9B); Southern Panay Backbone Project (1.9B); Panay-Negros Interconnection Updating Project (P3.3B), Timbaban Hydro Electric Power (2.5B) and Villasiga Hydro Electric Power (P2.0B).
Valero said these projects are expected to further boost the region's economy which performed well in 2007 citing several indicators.
He said the region's investment grew, exports in the ports of Iloilo and Pulupandan increased, employment rate was high, and inflation was low.
Meanwhile, President Gloria Macapagal-Arroyo has vowed to translate the positive results of the economic reforms she implemented to real benefits for the people as she underscored the need to increase investment in infrastructure amongst others.
She said in one of her recent speeches that infrastructure is vital to the creation of an environment in which businesses would feel confident to expand and employ more people, "because more jobs means less poverty." (PIA)