In the recent months, the Philippine government has been putting forth huge plans to build infrastructure across the country. Some of the most prominent projects include the Subic-Clark Railway, Metro Manila subway, and the Subic Bay Freeport Zone. However, these projects may face problems when the country’s government fails to meet their promises. So, how do we know if the plans will be implemented on time? In this article, we’ll take a closer look at these projects to better understand their effects on the country’s economy.
CRPIP
The Duterte administration should resist the temptation to expedite foreign-funded infrastructure projects in the Philippines and increase funding for NCIP. By increasing funds for NCIP, the Philippine government will increase legitimacy of major infrastructure projects and broaden trust among political actors and the wider public. Furthermore, policies promoting environmental impact assessments should be passed into law. After all, the future of infrastructure Philippines depends on it.
The CRPIP project is one such example. This water-financing scheme funnels water from the Chico River to Cagayan Province. The Philippine government is likely to benefit from the project, because the water will help the province’s residents. Nonetheless, the CRPIP contract contains anomalous conditions and a confidentiality clause. Besides, the Philippine government will be the one to pay for the loan.
Subic-Clark Railway project
China has agreed to invest $940 million in the Subic-Clark Railway project in southern Luzon. The project will link Subic Bay Freeport Zone with Clark International Airport. Once completed, the railway linkage will create a logistics hub for Central Luzon. The railway project is expected to be completed in about 42 months. Currently, the project will be built by China Harbour and Engineering. The Chinese government will soon start negotiations for a loan agreement for the project.
The cost of the Subic-Clark Railway project is expected to be over P50 billion. It is expected to transform Central Luzon into a global hub for industrial investments. In addition, the railway project will connect New Clark City and Clark International Airport. Eventually, the railway project will reach the Ilocos Region, the Cagayan Valley and the Bicol Region. In the coming years, the railway will be an integral part of the P100 billion elevated coastal highway project.
Metro Manila subway
As the country moves towards the 21st century, the Metro Manila Subway Project is one of the country’s most important investment projects. Apart from reducing traffic congestion, this project is expected to improve accessibility, increase the number of commuters, and expand the public transport system. In addition to these goals, the Metro Manila Subway project is expected to increase the city’s economic output by increasing socio-economic activities. In this article, we look at the main factors that will affect property values.
While the government aims to have the Metro Manila Subway operational by 2027, the project has already been delayed for three years. The latest development in the project is the arrival of the tunnel boring machine, which was only recently tested and lowered into the construction site. While the entire project has been delayed for three years, the government is still on track to meet its deadlines. While this new line will help meet Manila’s growing demand for public transportation, it will also relieve traffic congestion and reduce atmospheric pollution.
Subic Bay Freeport Zone
The government’s plans for the Freeport Zone include developing it into a new industrial town site and a major civil aviation hub. The government will develop Clark Field, which is located in the zone, into a premier international airport. The freeport zone’s land area encompasses the former U.S. Clark Air Base, as well as the municipalities of Mabalacat and Porac in Pampanga and Capas in Tarlac. The area totals 28,041 ha.
The successful conversion of Subic Bay to a commercial hub was an economic success for the Philippines. The freeport zone covers more than six square miles of land, which included one of the country’s last rainforests. The freeport zone is an economic success story for the entire country, and its conversion has two major lessons for charter cities: First, leveraging existing infrastructure to spur development can reduce capital expenditure and increase investment. The conversion of the former naval base into a freeport zone was a good example of how to leverage existing infrastructure to spur economic growth and development. Subic Bay is a prime example of an example of a successful military base conversion, with more than $1.6 billion invested in the first four years.