The Department of Finance (DoF) said greater Asian integration and some P326 billion worth of infrastructure projects that have already begun construction, or will be built this year and the next, will stimulate the Philippine economy. In a statement issued by the DoF on Thursday, Finance Secretary Carlos Dominguez 3rd said businesses should expect themselves to be busy starting this year as the Duterte administration rolls out its big-ticket infrastructure projects. These projects will, in turn, boost the economy, create jobs and generate more financing opportunities for the country’s banking and insurance sectors, the statement said. This is helped, to a significant extent, by commitments made both by Japan and China to assist us especially in large infra projects. This year, he said, the government expects to start big railway projects such as the Clark-Subic Rail, Tutuban-Clark Rail, the 581-kilometer South Line of the North South Railway Project connecting Tutuban, Calamba, Batangas and Bicol.

Source: Manila Times March 16, 2017 17:26 UTC