Cambodia 2017 - Press Conference on “Dutertenomics” | Summary and Q&A

TL;DR

Philippines aims to achieve high middle income status and eliminate poverty through a $60 billion investment in infrastructure and human capital development.

Key Insights

• 🌍 The Philippines aims to become one of the 30 most powerful economies in the world within 13 years.
• 🌱 The government plans to spend more than $160 billion in government and overseas development funds on infrastructure development.
• 🔠 Investments in infrastructure and human capital development are expected to boost economic growth and reduce poverty.

Transcript

and our secretary for the Department of Public Works and highways secretary V uh Secretary toade of the Department of Transportation and the distinguished guests of course uh monk good morning ladies and gentlemen the Philippines today stands on the brink of a dramatic trans transformation we are emerging from our cocoon with a rapidly growing econ... Read More

Questions & Answers

Q: How does the government plan to achieve high middle income status and eliminate poverty?

The government aims to invest $60 billion in physical infrastructure and human capital development, focusing on education and social services. By improving the country's infrastructure and investing in the workforce, they hope to attract more investments and boost economic growth, ultimately reducing poverty.

Q: What are the key projects planned for infrastructure development?

The government plans to build the Lazon Spine Expressway, a network of new or improved roads that will connect La Union province in the north to Kamarina in the south. They also aim to develop existing airports, such as the Clark International Airport, and build new airports in different regions to enhance connectivity.

Q: What is the government doing to ensure sustainable development and address climate change?

The government is investing a significant amount in disaster mitigation and resilience programs as part of their infrastructure development. They plan to retrofit bridges, repair infrastructure damaged by natural disasters, and enhance safety and security measures. This investment aims to address the country's vulnerability to natural calamities and ensure sustainable development.

Q: How does the government plan to fund these infrastructure projects?

The government plans to fund the infrastructure projects through a combination of soft loans, official development assistance, local funding through private sector participation, and partnerships with global investors. The debt to GDP ratio is expected to remain below 50%, ensuring a healthy financial situation.

Summary & Key Takeaways

• Philippines is emerging from a cocoon with a growing economy, positive growth, and a young workforce.

• The country aims to achieve high middle income status and rank among the 30 largest economies in the world.

• The government plans to invest $60 billion in physical infrastructure and human capital, focusing on education and social services.