President Marcos: "One of the keys to continuing economic growth is infrastructure development. So, we will build better, and more. Our 8.3-trillion peso “Build Better More” Program is currently in progress and being vigorously implemented." #SONA2023
Category
📺
TVTranscript
00:00 One of the keys to continuing economic growth is infrastructure development.
00:07 So we will build better and more.
00:10 Our 8.3 trillion peso Build Better More program is currently in progress and being vigorously
00:16 implemented.
00:17 The whole country will benefit from the 174 projects under this program.
00:32 We are not only continuing the projects that have already started, we are also expanding
00:38 them.
00:39 That is why the 123 projects under the Build Better More program are new.
00:46 The flagship projects cover investments in the areas of physical connectivity, water
00:51 resources, agriculture, health, digital connectivity, and energy.
00:57 Physical connectivity infrastructure, such as roads and bridges, seaports, airports,
01:03 mass transport, account for 83% of this program.
01:07 Our infrastructure spending will stay at 5 to 6% of our GDP.
01:19 The underlying logic to our infrastructure development is economic efficiency.
01:24 We are opening up all gateways to mobilize goods and services at less cost and in less
01:30 time and ultimately to drive the economy forward.
01:34 Our road network plans must link not only our three major islands, but all prospective
01:40 sites of economic development.
01:43 The 1,200 kilometer Luzon Spine Expressway Networks program will effectively connect
01:50 Ilocos to Bicol from 20 hours to just 9 hours of travel.
02:03 Under the Mega Bridge Program, 12 bridges, totaling 90 kilometers, will be constructed,
02:10 connecting islands and areas separated by waters.
02:14 The program notably includes the Bataan-Cavite Interlink Bridge and the Panay-Gimaras-Negros
02:25 Island Bridges, each spanning 32 kilometers, and also the Samal Island-Davao City Connector
02:36 Bridge.
02:41 As of June this year, we have constructed, maintained, and upgraded more than 4,000 kilometers
02:47 of roads and around 500 bridges across the country.
02:51 Crucial airport and port development projects across the country have also been completed,
02:56 including Cebu Piers, 88 Smartport, and the new passenger terminal buildings of Clark
03:03 Airport and the Port of Calapan.
03:06 We initiated several railway projects with a total length of more than 1,000 kilometers.
03:13 Notably, the southern leg of the North-South commuter railway system is now in full swing.
03:19 In a few years, travel from Pampanga to Laguna will be reduced from 4 hours to just 2.
03:33 Intermodal connectivity will also be a primary consideration.
03:37 Roads, bridges, and mass transport systems will be interconnected.
03:42 This network will provide access and passage to vital and bustling economic markets, such
03:47 as agriculture hubs, tourism sites, and key business districts.
03:53 For strategic financing, some of the nation's high-priority projects can now look to the
03:58 newly established Maharlika Investment Fund without the added debt burden.
04:04 In pooling a small fraction of the considerable but underutilized government funds, the funds
04:11 shall be used to make high-impact and profitable investments, such as the Build Better More
04:15 program.
04:16 The gains from the fund shall be reinvested into the country's economic well-being.
04:22 To ensure sound financial management, a group of internationally recognized economic managers
04:28 shall oversee the operations of the fund, guided by the principles of transparency and
04:34 accountability.
04:36 This guarantees that investment decisions will be based on financial considerations
04:41 alone, absent any political influence.