MANILA-- Infrastructure projects with combined investment requirement of Php3.6 trillion will be proposed for inclusion under the three-year rolling infrastructure plan (TRIP) for 2018 to 2020.
During the Dutertenomics forum, Socioeconomic Planning Secretary Ernesto Pernia said transportation sector projects will get the bulk of 64.57 percent or Php2.33 trillion of the entire budget proposal.
Pernia said Php636.65 billion, or 17.65 percent, has been earmarked for social infrastructure projects, while the remaining Php641.63 billion for projects in water resources, energy, information communications technology (ICT) and other sectors and administrative building.
He said the indicative total investment requirement for these projects will be submitted to the next meeting of the National Economic and Development Authority (NEDA) Board, which is chaired by President Rodrigo Duterte.
Pernia, also Director General of NEDA, said TRIP contains nationally funded infrastructure programs and projects based on the synchronized planning, budgeting and programming process of the government.
The TRIP is the modified version of the Comprehensive and Integrated Infrastructure Program (CIIP), a consolidated list of all infrastructure programs of the government.
"The golden age of infrastructure has begun," Pernia said in the forum organized by the Presidential Communications Operations Office (PCOO) and Department of Finance.
The Duterte administration planned to spend up to Php9 trillion on public infrastructure from 2017 to 2022.
The NEDA chief further said one of the thrusts of the new Philippine Development Plan 2017 to 2022 is accelerating strategic infrastructure development in the country.
Meanwhile, the NEDA has expanded the list of flagship projects, some of which may be included in the TRIP.
From an initial list of 55, about 75 projects are now slated for implementation and completion over the next six years.
Most of these are connective infrastructure meant to boost growth and development in the countryside.
Source: Philippines News Agency