July 26, 2018
Investments for infrastructure projects are distributed equitably across all regions over the medium term, a testament to the administration’s resolve to spur regional development, the National Economic and Development Authority (NEDA) said.
Under the Public Investment Program (PIP) 2017-2022, which contains the government’s list of priority programs and projects, investment requirements of each region depend on the areas of impact in proportion to its population.
Based on the PIP investments and gross regional domestic product (GRDP) level in each region, the national average of PIP investment to GRDP ratio is 6.28 percent, with the Autonomous Region in Muslim Mindanao (ARMM), Bicol, and Caraga regions having the highest infrastructure investment to GDRP ratio at 17.51 percent, 14.59 percent, and 12.48 percent, respectively.
“This means that despite fewer economic activities, lagging regions still get the needed public investments to be able to catch up,” Socioeconomic Planning Secretary Ernesto M. Pernia said.
He noted that while the Mega Urban-Industrial regions like the National Capital Region, CALABARZON (Cavite, Batangas, Rizal, and Quezon), and Central Luzon contribute the largest share in the Philippine economy, the government, through the PIP, ensures that infrastructure investments are not concentrated in a few regions.
Secretary Pernia added that regions stand to benefit from the government’s “Build, Build, Build” infrastructure program._m
“The end-goal of the government’s massive infrastructure program is to address inequalities. The country needs quality infrastructure that will make regions better connected and help improve their efficiency and productivity,” he said.
Secretary Pernia noted that “Build, Build, Build” projects will liven up economic activities and stimulate growth in regions.
Among the 4,490 projects in the PIP, 4,321 are region-specific, with ARMM having one-third of the total region-specific projects at 1,340.
All projects in the PIP are well aligned with the National Spatial Strategy, which anticipates future growth based on trends in population, economic activities and services.