More than 100 infrastructure projects are approved in the Philippines

The economic planning chief announced that the administration of President Ferdinand Marcos Jr. has authorized 123 new projects that will be a part of an infrastructure network worth 9 trillion pesos ($163 billion). The projects are about to start or complete in the upcoming years.

The 123 projects, according to Economic Planning Secretary Arsenio Balisacan, are primarily focused on enhancing physical connectivity, such as long-distance railways, as well as an upgrade of the aging Manila International Airport, the nation's main gateway.

According to Balisacan, the list also includes projects related to digital connection, health, power and energy, agriculture, and other industries. Water infrastructure, such as irrigation and flood management, is in the top of the list.

With 45 of these projects being supported by the private sector through public-private partnerships, the total number of government-priority infrastructure projects that will benefit from expedited licensing processes now stands at 194.

Marcos has stated that he chooses to use private capital to fund his infrastructure ambitions as opposed to the previous administration, which relied on foreign financing, including from China.

Prior to the end of the six-year term of Marcos in 2028, the Philippine economy will be expanded by as much as 8% and reduce poverty in the nation by half, to 9%.