By Rizal Raoul Reyes
ASIDE from education, judiciary, economy, agriculture and security, the next administration must address the infrastructure to enhance the country’s competitiveness.
In a news briefing held recently in Makati City, Rick Santos, president of the American Chamber of Commerce in the Philippines said that infrastructure is a crucial element to attract more investors to the country.
“Take the case of rails. The next set of leaders must immediately upgrade the railway system to ensure faster mobility of people and goods. The next administration must act with urgency because of the daily experiences in gridlocks,” Santos said.
In a research conducted by the Urban Land Institute (ULI) in 2014, infrastructure quality came out as the top growth driver of investments especially in real-estate development.
In their second finding, ULI noted that improved public transport such as “upgrades to public transit systems including bus and fixed-rail systems—emerged from the survey as a strong priority for future investment.”
In response to the infrastructure problem, the Aquino administration launched the Private-Public Partnership (PPP) Program to push the development of several projects involving roads, airports, schools and railroads.
The PPP Center is the main driver of the PPP Program. It serves as the central coordinating and monitoring agency for all PPP projects in the Philippines.
Some of the awarded projects are the Daang Hari-South Luzon Expressway Link Road, PPP School for Infrastructure Project (Phase 1 and 2), Ninoy Aquino International Airport Expressway Project (Phase 1) and the modernization of the Philippine Orthopedic Center.
Aside from quality infrastructure, Santos said the government must also work on the passage of the Real Estate Investment Trust (REIT) and liberalizing the economy to entice more foreign capital.
“Liberalizing the economy provisions of the country, such as the approval of the REIT, makes more sense. Opening up the economy means the creation of more jobs,” said Santos, also the chairman and CEO of CBRE Philippines.
Santos stressed the new leadership must also put premium on upgrading the country’s educational system so it can provide the manpower needs of industries such as business-process management.
Moreover, Santos said the agricultural sector must be given adequate support to enable the country to develop stronger food-security program and, at the same time, promote inclusive growth in the countryside. “There are lots of opportunities in agriculture that can contribute immensely to economic growth.”