Big businesses betting on Dutertenomics
MANILA – Big businesses in the Philippines are investing heavily on the infrastructure projects under the Duterte administration.
Under President Duterte’s ‘Build, Build, Build’ P8-trillion infrastructure program, the President’s economic team has announced a list of projects being offered by the business sector to the administration;
- Businessman Andrew Lim Tan, chairman of Alliance Global, proposed to build a monorail from EDSA to the Fort Bonifacio financial center to ease the traffic congestion.
- Metro Pacific Investments Corp, headed by Manuel V. Pangilinan, will put up a P8-billion credit line for potential investments. The firm began building the Cavite-Laguna expressway last June.
- The Consunji group, one of the leading construction companies in the Philippines, announced recently the construction of a P340-million cement business.
- In September, a toll road that connects the North and South Luzon Expressways will be built by Metro Pacific ,and which express interest to run the MRT Line 3 with a P20 “billion rehabilitation plan.”
- San Miguel President Ramon Ang is bidding $2-billion flood control project in the National Capital Region.
- Another proposed endeavor is the PNR East railway Project, which will start from Quezon Avenue to España Boulevard. This is pushed by Megawide Construction Corp in partnership with East-West Rail Transit Corp.
- Also on the planning stage is a P20 billion terminal in the Ninoy Aquino International Airport to be built by business tycoon Lucio Tan.
There are other companies interested in joining the infrastructure bandwagon like cosmetics-maker Ever Bilena and luxury property developer Century Properties and Insular Life.
The infrastructure projects are expected to generate 2 million jobs annually thus bringing in the golden age of construction building, according to government officials.
