Sunday, December 25, 2011

News Update NEDA okays 2 projects to boost SE Asia trade

MANILA, Philippines - The National Economic and Development Authority (NEDA) Board has approved two infrastructure projects that are expected to enhance the country’s trade activities in Southeast Asia.
These projects are the Puerto Princesa Airport Development Project (PPADP)and the Public-Private Partnership for School Infrastructure Project (PSIP), the agency said in a statement.
Under the PPADP project, the government will improve the existing Puerto Princesa Airport through the construction of a new passenger terminal complex and put in place a new access road off the national highway of Puerto Princesa City.
The government also plans to widen the runway strip and install new security fencing, among others.
The improvement of the project aims to boost trade with neighbors in the East Asia growth area.
“The project revitalizes the transport and trade linkages under the Brunei Darussalam, Indonesia, Malaysia and the Philippines-East ASEAN Growth Area or BIMP-EAGA,” NEDA said.
The government puts the total cost of the project at P4.46 billion. It is under the Official Development Assistance (ODA) financing of the Korean Economic Development Cooperation Fund (EDCF).
The second project, the PSIP, will construct a total of 9,623 classrooms 2,300 elementary and secondary schools in Regions I (Ilocos), III (Central Luzon) and IV-A (Calabarzon).
Socioeconomic Planning Secretary Cayetano Paderanga Jr. said the project will expand the supply of classrooms in all public school system in the shortest time possible and solve the current shortages nationwide.
“In the long run, the PSIP can help balance the supply and demand of classrooms within 10 years and eliminate the backlogs and shortages considering the implementation of the K+12 program, among others. Given the current classroom shortage of 66,800 units that is projected to balloon to about 150,000 by 2016, it is estimated that around 30,000 classrooms are needed annually within the next five years,” Paderanga said.
He also said that the proposal to carry out the project within the Public-Private Partnership framework is expected to fast-track the construction and delivery of classrooms, reduce cost for government and introduce innovation in design, construction methods and new materials.
The PSIP is estimated to have a total project cost of P9.89 billion. - By Iris C. Gonzales