PHNOM PENH, Cambodia(PNA) -- Members of the President Rodrigo Roa Duterte's Cabinet presented before the international media the economic and development blueprint of the Philippines, aptly called DuterteNomics, on the sidelines of the World Economic Forum (WEF) on ASEAN 2017 in Phnom Penh, Cambodia's capital on Thursday, May 11.
Presidential Communications Secretary Martin Andanar, who opened the event said, Our milestones are ambitious. We will spend 5 to 7% of our Gross Domestic Product (GDP) every year on infrastructure.
The Duterte administration plans to invest USD 160 billion in the country's physical infrastructure under the program Build-Build-Build Infrastructure Plan.
Included in the Build-Build-Build Infrastructure Plan are a 650-km network of new or improved roads from La Union in the north to Camarines Sur in the south, the country's first subway system running in Metro Manila, rail projects running to the north and south of Manila and the Mindanao Railway.
Other projects include the transformation of Clark Airport into the country's second premier gateway and the overall upgrading of the country's entire airport system.
Dutertenomics underlies our 6-year development plan to achieve high middle income status by the time our President leaves office within a generation. We aim to eliminate poverty and rank among the thirty largest economies in the world, Andanar said.
This is similarly echoed by Trade and Industry Secretary Ramon Lopez who pointed out that the administration of President Rodrigo Roa Duterte is not just about drugs, but it is about making business and bringing change and prosperity for all, as envisioned by this presentation, which gathered some of the President's cabinet officials.
Dutertenomics is a platform with accompanying ways of doing things, added Transportation Secretary Arthur Tugade, embodied by zero tolerance against corruption under the principle of accountability and transparency in a safe and secure environment. It is creating a scenario of return of investments, Tugade said.
Joining Andanar, Lopez and Tugade in the Dutertenomics Presentation were Secretary Mark Villar of the Department of Public Works and Highways (DPWH), Secretary Alfonso Cusi of the Department of Energy (DOE), National Economic and Development Authority (NEDA) Director-General Ernesto Pernia, President and CEO Vivencio Dizon of the Bases Conversion and Development Authority (BCDA), Presidential Spokesperson Ernesto Abella and Senator Alan Peter Cayetano.
Source: Philippines News Agency