Clark Freeport Zone tapped as showcase
For administration’s economic strategy
CLARK, Pampanga — The Duterte administration is undertaking at least three flagship infrastructure projects under its “Build, Build, Build” program as the linchpin of its strategy to develop major alternative growth areas in Central and Northern Luzon, according to Finance Secretary Carlos G. Dominguez III.
Dominguez said these three projects already approved by the National Economic and Development Authority (NEDA) Board, which is chaired by President Duterte, are the R4.37-billion Chico River Pump Irrigation Project, the R211.43-billion Philippine National Railways (PNR) North 2 Project, and the R12.55-billion Clark International Airport New Terminal Building.
In his opening remarks at the regional press launch here of the Philippines’ hosting of this year’s 51st Asian Development Bank (ADB) Annual Meeting, Dominguez said the Clark Freeport Zone will soon be the showcase of the Duterte administration’s economic strategy of developing growth centers outside Metro Manila to make the benefits of the country’s fast-paced economic expansion more inclusive.
“The end-goal of all our efforts remains the same. We seek to liberate our countrymen from poverty. We seek a meaningful life for all in a setting of broadly shared prosperity and undiminished liberty. We are ready to take our place among the accomplished nations of the world,” said Dominguez at the third leg of the press launch, which was held at the Association of Southeast Asian Nations (ASEAN) Convention Center here.
Dominguez, who is this year's chairperson of the ADB Board of Governors, said the Philippine government’s development
strategy jives well with the theme of the institution’s annual meeting of “Linking People and Economies for Inclusive Development.”
The aggressive infrastructure modernization program being implemented to link isolated communities to the mainstream of national wealth creation, the government’s policy revisions to improve the ease of doing business, the increased use of new digital technologies to create a more investor-friendly climate, and the continuing reforms in the financial sector to provide a capital base for businesses and enable more Filipinos to invest are among the initiatives currently being undertaken by the Duterte administration to make development more inclusive, Dominguez said.
“As much as this is a key moment for the ADB, it also is a key moment for the Philippine economy,” Dominguez said.