Bicol needs P320B in infra investments – Salceda

 Economy
Jun 132013
 

MANILA, Philippines – The Bicol region needs P320 billion worth of infrastructure investments to contribute to the country’s economic boom, Albay Gov. Joey Salceda said on Thursday.

“What drive our economy today are investments, particularly on the aspect of infrastructure but most of infrastructure investments are still concentrated in the urban areas, particularly Metro Manila,” Salceda said.

Salceda said the investments should complement tourism development projects such as the P3.4-billion Southern Luzon International Airport currently being constructed in Daraga, Albay.

In terms of tourism growth rate, Albay has posted a 49-percent growth in 2012.

Salceda said large investments are expected to come in with the positive perception that the present administration receives from the private sector.

“Investors clearly trust the presidency that projects the image of anti-corruption and this trust is manifested by bigger stakes they put in now, particularly in food manufacturing and tourism- today’s upscale industries,” he said, adding that the industry sectors improved by 31 percent this year.

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He said the reason for the growth in food manufacturing is import substitution or producing locally the products what we used to import. Local products directly compete with imported goods,” Salceda said.

Magna Carta for poor still valid, says Salceda

 Economy
Apr 182013
 
Magna Carta for poor still valid, says Salceda

MANILA, Philippines – A Magna Carta for the poor remains a viable state instrument for the emancipation of poor families, but its formulation cannot be left alone to “congressional caprice.” This was stressed by economist and former presidential adviser Joey Salceda, saying “the poor are so poor that the Magna Carta for their emancipation is urgent.”  “If I were allowed to make an input, I would have phrased it this way: Like IRA (Internal Revenue Allotment) to LGUs (local government units), the poor shall be entitled to at least three percent of the gross domestic product, which would automatically be appropriated annually in the state’s national expenditures,” he said.  The poor’s share, he added, should be an integral part of the multi-year development instruments such as the Medium Term Philippine Development Plan and the Medium Term Public Investment Program.  He, however, said the poor and the expenditure program must be defined by the National Anti- Poverty Commission, with the secretary of the Department of Social Welfare and Development as its ex-officio chair.  President Aquino vetoed the proposed law recently, saying it was a “mission impossible” because the government has no means to produce the P3.3 trillion budget it requires to uplift the poor. Business ( Article MRec ), pagematch: 1, sectionmatch: 1  The Philippine government has only a P2-trillion annual national budget this year.  The President, however, has ordered the Cabinet social welfare cluster group to draw up a “substitute measure that will be given to the next Congress, which Read More …