Category Archives: Infrastructure

Government to Streamline Approval Process for Chinese-Funded Infrastructure Projects

Finance officials told Chinese commerce representatives that the government has streamlined the approval process for big-ticket infrastructure projects to be funded by China in order to speed up their implementation. The first projects to be financed by China include the P10.9-billion New Centennial Water Source-Kaliwa Dam Project and the P2.7-billion Chico River Pump Irrigation Project. Finance Secretary Carlos Dominguez… Continue reading

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Finance Chief Warns Rejection of Tax Reform Proposals to Affect Infrastructure Buildup

Finance Secretary Carlos Dominguez has upped the pressure on the Senate to approve the administration’s tax reform program by saying that the government will not be able to fund half the infrastructure spending planned until 2022 if the proposals are rejected or considerably watered-down. He added that Congress should likewise pass succeeding tax reform packages, as revenues from the first package currently under Senate review… Continue reading

Philippines to Tap P140-B Loan from China

The government is seeking a P140-billion loan from China to finance three major projects, namely an irrigation system in the north, a dam that would serve as an alternative water source for the capital region, and a rail line from Manila to the southern end of Luzon. Economic officials said that they would ask for official development assistance with interest rate of no more than 2% per annum. Negotiations… Continue reading

Economic Team Allays Concerns on Chinese Loans and Investments

President Rodrigo Duterte’s economic team has acknowledged concerns with projects to be funded by China. Socioeconomic Planning Secretary Ernesto Pernia said that no loan agreements has been signed yet and that the Investment Coordination Committee will carefully review all dealings to ensure that Chinese firms with questionable backgrounds would be excluded. Finance Secretary Carlos Dominguez also allayed fears that China might include a condition of bringing in its own construction workers. Dominguez… Continue reading

First Half Budget Deficit Up 28%

The government recorded a P90.9-billion deficit in June, five times higher than the P16.7-billion program and double the P45.2 billion in the same month last year. The fiscal balance for the year as of June is at a P154.5-billion deficit, seven percent more than the P143.8-billion program and 28% bigger than the P120.3 billion last year. Budget officials say that expenditure is right on schedule, but revenues fell way short of the target. While… Continue reading

New Bridge Linking Two Business Districts to be Completed by 2020

The Department of Public Works and Highways laid the groundwork for a bridge connecting two major business districts in Metro Manila. The bridge will link the Bonifacio Global District in Taguig and the Ortigas Center in Pasig. It is targeted for completion in 2020. This is part of 13 new bridges planned around the capital region. Two of these would be built using Chinese funds, though construction have yet to begin… Continue reading

Government to Launch More Infrastructure Projects, as May Spending Increases 31.4%

The government spent P46.2 billion for infrastructure projects in May 2017, 31.4 percent up from the same month last year. For the first five months, the amount grew 8.1 percent to P197.2 billion compared to the same period in 2016. Economic officials added that 4,000 infrastructure projects would be pursued under the P8.4-trillion Public Investment Program (PIP) until 2022. Out of the 4,000, 75 will be big-ticket projects, of which 18 are… Continue reading