Infrastructure creates a significant impact on the economy and the people. It is a game changer and improves the livelihood and the overall condition of any community.
A private company plans to invest over P13 billion to extend the South Luzon Expressway from Sto. Tomas, Batangas to Lucena in Quezon province. The 58-kilometer stage is expected to cut the travel time between the two places to just one hour from the usual four hours.
Conglomerate San Miguel Corp. promised to start construction of the toll road in less than a year. Like any major road, this piece of infrastructure will speed up the flow of goods and give the produce of farmers in the province access to the urban market.
San Miguel president and chief operating officer Ramon Ang views infrastructure as an opportunity to participate in the growth of the Philippines.
“Quality infrastructure will change and impact lives,” he said. “The tollway will help encourage new investments across these regions. Land values will appreciate; new businesses will emerge. Because of the new roads, progress will be brought to the towns and barangays. And we are happy that we are in a position to contribute.”
Major economies in Asia recorded economic progress because of the numerous infrastructure projects they built. The construction of major roads, rails and bridges and modern airports and piers, for one, expanded the economies of Malaysia and Thailand.
Foreign investments came in droves to these countries, attracted by the prospect of lower production and transportation costs. Foreign tourists, a major source of foreign exchange, soon followed the investments because of the reduced travel time and modern airport facilities.
The Philippines is playing catch-up in Asia after its neighbors went ahead to build their infrastructure network. Several toll roads and rail projects are in the pipeline, but the government must have a firmer resolve in speeding up the legal processes that slow down the implementation of projects.
Infrastructure projects produce economic rewards. More importantly, they quickly generate jobs and greatly reduce the poverty incidence.