President Ferdinand Marcos Jr. on Wednesday witnessed the signing of major transportation infrastructure project agreements in the Visayas and Mindanao, which he said will not just make travel more comfortable but will spur economic growth and create more jobs for Filipinos.
These are: four transaction advisory services agreements for the construction of the P17 billion New Cebu International Container Port, the P28.78 billion Cebu Bus Transit transportation system, New Dumaguete and New Siargao Regional Airports; and a public-private partnership project concession agreement for the P4.53 billion Bohol-Panglao International Airport expansion project.
In his speech after the signing of the agreements in Malacañang, the President reminded Filipinos that “the future will not simply come to us – we must be the ones to build it, and this is how we will move forward.”
“These projects are not just structures, they are representative of every Filipino’s dream of more comfortable travels, better opportunities, and a clearer path towards their goals and dreams,” he said.
He said the NCICP, as a modern port facility, will ease port congestion at the Cebu Base Port and will make goods more affordable while creating jobs and opportunities for more port activities.
As to the CBRT, the President said the modern bus network project will connect key parts of Cebu City, making daily commutes easier and more comfortable.
Meanwhile, the expansion of the BPIA will be implemented in two phases and will increase its capacity to 2.5 million passengers a year by 2026. Marcos said the BPIA is projected to handle 3.9 million passengers each year by 2030.
He added that the BPIA expansion will generate P15 million in yearly revenue during its first five years and is expected to earn up to P200 million each year by the end of the concession period.
“This means we can provide seamless travel to a lot of tourists – which translates to more jobs for Boholanos, especially in the hotel and restaurant industries. But more than just the revenue, its true success will be the number of lives that it will change for the better in Bohol. It is a promise to our beloved people that they will be the first to benefit from the continued arrival of tourists and of investors,” the President said.
Marcos also expressed optimism for the construction of the new Dumaguete and Siargao regional airports, which he said will create more opportunities in tourism and trade, as well as for students, workers, and businesses.
He added that with the support of the International Finance Corporation, the new regional airports will be at par with global standards.
The President said the new regional airports will allow farmers to efficiently bring their produce to new markets, for entrepreneurs to expand their businesses, and for tourists to discover the charms of Dumaguete and Siargao.
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