The Philippines is a dynamic South East Asian country with many emergent investment opportunities.
According the to the Filipino National Economic and Development Authority (NEDA), by 2028 the Philippines will be finishing projects worth approximately four trillion pesos (US $72 Billion). In March 2023, the Government will have approved over 123 additional projects from a pipeline of infrastructure worth approximately nine trillion pesos (US $163 billion).
Many of these are part of the ‘Build Build Build’ program and include over seventy of the original list of 112 projects being undertaken as part of the Philippine Development Plan. The projects relate to varied areas including the improvement of physical connectivity, long-distance railways, the international airport, water infrastructure, digital connectivity, health, power and energy, agriculture, and others.
This will mean around 194 the government's priority infrastructure projects will be granted expedited permitting. It is expected around 23 % of these will funded by the private sector through public-private partnerships. The numerous NEDA led Infrastructure Flagship Projects (IFPs) under the 2023 ‘Build-Better-More Programme’ are described as ‘game-changing, transformative, and urgently needed’ infrastructure projects of national significance’.
These projects are significant for the Philippines and worth are understanding. Four of the biggest infrastructure projects include:
The New Manila International Airport
The 740 Billion peso new Manila Airport also known as the Bulacan International airport. This project is long overdue because of the limited capacity of the Ninoy Aquino International Airport (NAIA) and the detrimental impact this continues to have. The Bulacan International Airport and associated city is 35 km north of Manila and being constructed in partnership with the San Miguel Corporation. It is expected the new airport will create significant employment opportunities and include a special economic zone and freeport authority.
NLEX-SLEX Connector Road
The 23 Billion peso, eight km NLEX-SLEX Connector road will link two of the biggest highways in the Philippines, the North Luzon Expressway (NLEX) and the South Luzon Expressway (SLEX). An estimated 35,000 motorists are expected to use the new connecting road and benefit from a travel time of under 20 minutes. It is anticipated that the new road will allow easier transit across the city and open up opportunities for further residential housing development in new areas.
Boracay Circumferential Road
The 21 kilometre (km) and 1.94 Billion pesos Boracay Circumferential Road. This is a project to construct a strategically important road across the island to reduce travel times for tourists and locals and connect the villages. The work is being undertaken by the Department of Public Works and Highways (DPWH). This project is an example of a tourist destination of strategic national importance that has received the targeted support of central government.
Epifanio de Los Santos Avenue (EDSA) Greenways Project
The 8.79-billion pesos EDSA Greenways Project will provide an upgrade to existing pedestrian facilities in the area via elevated walkways near metro stations. Upon the completion in 2024, pedestrians will be able to more easily and safety walk through the area and the connecting transport options.
What else is being planned in the Philippines?
To give a sense of the breadth of other infrastructure projects planned or underway in the Philippines, see the following list of physical, digital, water, health, and other projects. This is not an exhaustive list but provides a sense of the volume and scale of many of these projects.
Physical connectivity projects such as:
· The SLEX Toll Road project
· C5 South Link Expressway Project
· Panay-Guimaras-Negros Inter-Island Link Bridge
· Bataan-Cavite Interlink Bridge
· Laguna Lakeshore Road Network Development
· MRT-7 Project
· MRT-3 Rehabilitation Project
· Cebu Bus Rapid Transit Project
· Taguig City Integrated Terminal Exchange
· New Manila International Airport (Bulacan international Airport)
· New Cebu International Container Port Project
· Surallah-T’Boli-San Jose Road, South Cotabato
· Samar Pacific Coastal Road Project
· Boracay Circumferential Road
· Southeast Metro Manila Expressway Project
· North South Commuter Railway
Digital connectivity projects such as:
· Philippine Identification System
· Digital Transformation Centers
· National Government Data Center
· National Broadband Program (NBP)
Water resource related projects such as:
· Pasig-Marikina River Channel Improvement Project
· Integrated Disaster Risk Reduction and Climate Change Adaptation (IDRR-CCA)
· Metro Manila Flood Management Project
· New Centennial Water Source - Kaliwa Dam Project
· Water District Development Sector Projects (WDDSP)
Health related projects such as:
· Health System Enhancement to Address and Limit (HEAL) COVID-19 Project
· Philippines COVID-19 Emergency Response Project (PCERP)
· Virology Science and Technology Institute of the Philippines
· Virology and Vaccine Institute of the Philippines
· UP PGH Cancer Center Project
Other infrastructure projects such as:
· Emergency Assistance for Reconstruction and Recovery of Marawi
· Philippines Seismic Risk Reduction and Resilience Project (PSRRRP)
· Sugar Regulatory Administration (SRA) - Construction of Farm-to-Mill Roads
· Farm-to-Market Road Development Program (FMRDP) - FMR Projects
· PFDA- Construction/Rehabilitation/Improvement of Fish Ports and Other Fishery
· Climate Change Adaptation Works- National Irrigation System
· Cavite-Laguna Expressway (CALAX)
· South Luzon Expressway (SLEX) Toll Road 5 (TR5)
· North Luzon Expressway (NLEX)
· National Rice Program
· Halal Food Industry Development Program
· Repair of Communal Irrigation System
· Repair of National Irrigation System
· Restoration of Communal Irrigation Systems
· Restoration of National Irrigation Systems
· Small Irrigation Project
· Bayabas Small Reservoir Irrigation Project
· Improvement of Service Roads in National Irrigation Systems
· Establishment of Groundwater Pump Irrigation Project
· Extension/Expansion of Existing National Irrigation Systems
· Requirements of the Program Beneficiaries Development Component of the Comprehensive Agrarian Reform Program
· Maritime Safety Enhancement Project
For more information see https://neda.gov.ph/wp-content/uploads/2023/04/IFPs-under-the-Build-Better-More-Program.pdf
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Last updated: May 2023
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