Foreign investors on Monday urged the administration to “speed up” its rollout of the P8-trillion infrastructure program.
“The ‘build, build, build’ agenda is certainly nowhere where it’s supposed to be,” European Chamber of Commerce of the Philippines president Guenter Taus told ANC’s Market Edge.
Japan Chamber of Commerce and Industry of the Philippines president Hiroshi Shiraishi stressed that to enhance infrastructure development, which will be funded partly by official development assistance from Japan, Philippines must “speed up the project.”
“Administration is finished every six years. I think speed is one of the keywords for infrastructure for ODA [official development assistance], not only for JICA projects, but for any ODA project in infrastructure is speed up and accomplish and to contribute to the societies,” he said.
Taus said problems such as government procurement procedures, funding, and “who do you team up in order to expedite these projects” must be overcome to expedite infrastructure boost.
“We’re one year into the administration, so that leaves us with five more years. It’s a handful to get done within this administration,” he said.
Source: Panay News (http://www.panaynews.net/foreign-investors-ask-du30-to-speed-up-infra-initiative/)