MANILA — Local players in the construction industry are urged to participate in infrastructure projects in the country and in Southeast Asia.
During the ASEAN+6 Construction Forum Wednesday, Department of Trade and Industry (DTI) Secretary Ramon Lopez said Filipino contractors should maximize the opportunities both here and abroad, with the Duterte administration’s Build, Build, Build program and the ASEAN Connectivity.
Lopez said the fast economic growth in the Philippines and in ASEAN requires further development of infrastructure to attract more investments as well as facilitate trade.
“We recognize the importance of infrastructure development to economic growth in terms of productivity and efficiency, and to the ordinary citizens in terms of mobility and access to basic utilities,” he noted.
“The Philippines and ASEAN are committed in facilitating growth, trade, and investments through connectivity brought about by the construction industry,” he added.
It was noted that under the Build, Build, Build program, the government has 75 big-ticket projects.
Under the ASEAN Connectivity, the 10 member states of the regional bloc aim to increase private infrastructure investments and deployment of smart urbanization models across the region.
The trade chief said the government had to review its policy roadblocks to encourage local contractors participate in overseas construction projects.
“The private sector should seize opportunities abroad through capacity building of fellow local contractors. Lastly, there should be an exchange of technology, knowledge, and skills within the industry,” said Lopez.
Likewise, he added that a more liberal policy in the construction industry would boost the appetite of foreign investors to participate in local infrastructure projects.
But Lopez noted that these policies should drive foreign investors to participate in big-ticket projects in order for the country to also benefit from the technologies they would be bringing in. (PNA)
