Sec. Diokno speaks with members of the Japanese media in the Power Hour event in Tokyo.
“On top of comfort and convenience, the ‘Build Build Build’ program offers more than just upgrading infrastructure [...] It’s about linking the present with our vision of a prosperous Philippines - a stronger economy with higher standards of living, a harmonious society with effective and accountable governance, and a country we all can be proud of,” DBM Sec. Diokno emphasized as he spoke with members of the Japanese media during the Power Hour: Philippines and Japan Economic Relations held in Tokyo, Japan on September 10, 2018.
The event, attended by Ambassador Jose Laurel and some members of the Japanese press, focused on the economic ties between Japan and the Philippines.
Budget Secretary Diokno highlighted the role of the administration’s ambitious Build Build Build program in achieving sustainable connectivity and quality infrastructure in the Philippines. He noted how the dismal state of the country’s infrastructure has long been a hindrance to growth and inclusive development, and accordingly, how the Build Build Build is critical to the fulfillment of the country’s development agenda.
“Our hefty allocation for infrastructure is proof that we mean what we say, that we are serious in achieving the promise of the President to bring growth and development throughout the whole country. This ambitious and audacious spending pattern will allow us to construct and modernize our roads, bridges, airports, seaports, flood control and irrigation systems, among other facilities,” the Budget Chief noted.
Japan, being one of the Philippines’ development partners. has committed to financing a number of big-ticket Build Build Build infrastructure projects through Official Development Assistance (ODA). Some of these Japan-backed projects include the highly anticipated Metro Manila Subway Project, the Philippines’ first-ever subway. Once completed, the Subway will reduce commuting time significantly - Quezon City to Taguig in 31 minutes.
The Philippine Government is working closely with Japan International Cooperation Agency (JICA) in ensuring that the project will be built with the technology that is at par with the standards of Tokyo-based railway systems.
Besides the Metro Manila Subway, the Japanese government has also extended loans to finance other railway projects, such as the PNR North 2 (Malolos to Clark), and the PNR South Commuter Line (Tutuban to Los Banos). Also financed by Japanese ODA are the Cavite Industrial Area Flood Management Project and the Malitubog-Maridagao Irrigation Project Phase II.
For inquiries, further questions and requests for interview, please contact Marianne Ongjuco: