The final plan for BIMP-EAGA Vision 2025 (BEV 2025) has identified big ticket projects out of the USD23-billion fund for the eight-year plan of the East Asean Growth Area (EAGA).
According to Mindanao Development Authority (MinDA) deputy executive director Romeo Montenegro during Wednesday's Forum at Habi at Kape, Mindanao gets substantial allocation for the infrastructure projects.
He said the BIMP-EAGA Vision 2025 covers the period 2017 to 2025 which will eventually align with ASEAN (Association of Southeast Asian Nations) 2025.
One of the big-ticket projects is the Mindanao Railway project that has an allocation of USD9 billion.
The other projects include the Sasa Port Development Project, the Davao International Airport, Zamboanga International Airport, Polloc Port and other infrastructure projects within the Autonomous Region for Muslim Mindanao, Montenegro added.
He said the island is given preferential attention because it is Mindanao that needs most of the assistance. He said all the neighboring areas already have well-developed connectivity.
Once these projects will materialize, expect a big change in the economic landscape, Montenegro said, emphasizing that there must be linkages for air, sea and land.
And linking these growth areas, he said, will make Mindanao an attractive area for investment. The development of these infrastructure projects will also create jobs.
Meanwhile, Montenegro said that BIMP-EAGA Vision 2025 will be presented for approval when the Philippines takes its turn for the chairmanship.
Montenegro said that during the 20th BIMP EAGA Ministerial Meeting last November 29 in Puerto Princesa, the body endorsed the BEV 2025 that aspires for a resilient, inclusive, sustainable and economically competitive sub-region.
He said the BEV 2025 aims to deliver three main outcomes, namely, 1) competitive and green manufacturing, 2) sustainable, competitive and climate resilient agro-industry and fisheries, and 3) sustain tourism destination.
Montenegro said BEV 2025 includes priority infrastructure projects that are most needed within the growth area.
Source: Philippines News Agency