Market Research Report Philippines Construction Industry Trends Report | Page 4

(CMP), Core Housing Program and the Abot-Kaya Pabahay Fund Developmental
Loan Program (AKPF - DLP).
With robust and modern infrastructure vital for economic growth, the government is
focusing on infrastructure development. Accordingly, in September 2016, the
National Economic and Development Authority announced its plan to spend PHP8.2
trillion (US$173.9 billion) on nine infrastructure projects by 2022.
In the Budget 2017, the government increased its total spending on the Department
of Transport by 25.0%, rising from PHP42.6 billion (US$903.3 million) in the
budget 2016 to reach PHP53.3 billion (US$1.1 billion). The government also
increased the budget of Department of Public Works and Highways by 18.3%, rising
from PHP384.4 billion (US$8.2 billion) in 2016 to PHP454.7 billion (US$9.8
billion) in 2017, to improve the countrys tran sport infrastructure.
In March 2017, the government approved National broadband plan with an aim to
support economic development and growth. Through this, the government aims to
create investment opportunities and ensure social and economic inclusion.
Consequently, the government plans to deploy fiber optic cables and wireless
technology across the country with an investment of PHP200.0 billion (US$4.3
billion), to equip all schools.
Over the forecast period, the governments plan to expand the capacity of
manufacturing plants is expected to support growth of the industrial construction
market. Under the Manufacturing Resurgence Program (MRP), the government aims
to enhance the existing capacity of manufacturing industries, support new entries,
increase employment, and maintain the competitiveness of industries by 2025.
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