DOF’s Dominguez cites 3 infra projects for new growth areas in Luzon

ASEAN Convention Center, Clark Freeport Zone — Finance Secretary Carlos Dominguez III on Friday cited three massive infrastructure projects in Central and Northern Luzon as part of the Duterte administration’s aim to develop major alternative growth areas.

“For Central and Northern Luzon, in particular, the government is also investing heavily to have major alternative growth areas,” Dominguez said in his remarks during a press conference for the Philippine hosting of the 51st ADB Annual Meeting.

The projects, already approved by the National Economic and Development Authority (NEDA) Board, include:

The P4.37-billion Chico River Pump Irrigation Project to provide water to 8,700 hectares of agricultural land, benefitting 4,350 farmers and serving 21 barangays in the provinces of Cagayan and Kalinga

The P211.43-billion Philippine National Railways North 2 Project to connect Malolos in Bulacan, Clark Airport, and Clark Green City

The P12.55-billion Clark International Airport New Terminal Building to increase airport capacity by 8 million per year and help pave the way for accelerated growth of Central Luzon and nearby areas

“We expect Clark to be the growth driver for Central and Northern Luzon. It is ideally suited to be a center for agro-industrial activities as well as home to cutting edge technology companies, government centers and world-class sports facilities,” Dominguez noted.

The Clark Freeport Zone will soon be the showcase of the Duterte administration’s economic strategy of developing growth centers outside Metro Manila to make more inclusive the country’s fast-paced economic expansion, he said.
 
“The end-goal of all our efforts remains the same. We seek to liberate our countrymen from poverty. We seek a meaningful life for all in a setting of broadly shared prosperity and undiminished liberty. We are ready to take our place among the accomplished nations of the world,” he said.
 
Dominguez noted the Annual Meeting of the ADB Board of Governors and other related meetings to be held in Manila on May 3 to 6, as well as the preliminary discussions leading up to the summer event, will enable the finance ministers and central bank governors of the bank’s 67 member-economies to learn from each other’s best practices and experiences in hurdling the challenges of today’s global economy.
 
Some 3,000 delegates are expected to attend the 51st ADB Annual Meeting in Manila, including finance ministers and central bank governors of ADB member-countries, bankers, representatives of the private sector, civil society, academe, multilateral, institutions and the media.
 
Among the issues to be discussed during the meeting include globalization, jobs in Asia, financial technology, private sector mobilization in funding infrastructure development, building resilience to climate change, expanding opportunities for women entrepreneurs, and tapping technology to maximize the skills of aging populations and utilizing it as an effective tool to make development inclusive. —VDS, GMA News