The Market Monitor Minding the Nation's Business
The Construction Industry Authority of the Philippines (CIAP) has urged members of the Philippine Constructors Association (PCA) to exercise prudence and professionalism to preserve the integrity of the construction industry.
Trade and Industry Undersecretary for CIAP Lawyer Ruth B. Castelo told members of the PCA during their Christmas Party at the Shanri-La the Fort that more opportunities will abound in the coming years, and there will have enough for everyone.
She told the constructors, “There will be competition amongst you, but please allow me to give a word of caution: Let this competition be an advantage to the construction industry, our country and our people.
She also congratulated PCA members for their collective effort in sustaining the high esteem not only of their association, but also of all the professions across the construction industry whose contributions vary in ways, levels and dimensions.
No. 4 in the 10-point socio-economic agenda of this administration is to accelerate infrastructure government spending to account for at least 5% of the GDP with public-private partnerships playing a key role. We are now entering the golden age of infrastructure, Castelo said.
Our President Rodrigo Duterte has set his mantra in motion, and our new battle cry is to build, build and build. He has defined his parameters and focus on this industry in providing livelihood to the Filipino people by generating employment to its fullest. His goal is to reduce the unemployment rate to 5% by the year 2022, and he is looking at the construction industry to be one of the biggest performers, if not the biggest, in achieving this goal of inclusive economic growth.
The national government has allocated P9.5 trillion to be spent for the next five and a half years on infrastructure alone. For 2017, P900 billion is allocated for various infrastructure projects.
In the past six years of the Aquino administration, only 12 infrastructure projects were bidded out and implemented while In the first four months of President Duterte, 9 major infrastructure projects have already been approved and bidded out, with 7 projects more on its way until the end of December 2016.