PRESIDENT Ferdinand “Bongbong” Marcos Jr. led the signing of various government infrastructure project agreements on Wednesday, December 18, 2024, including the New Cebu International Container Port (NCICP) and the Cebu Bus Rapid Transit (CBRT) system.
Also signed were the expansion project of the Bohol-Panglao International Airport (BPIA) under the Public-Private Partnership (PPP) Project Concession Agreement and the construction of new regional airports in Dumaguete and Siargao.
The said projects were all under a Transaction Advisory Services Agreement (Tasa).
Marcos said these projects aim to provide more comfortable travel and better opportunities for the public.
He said the P17 billion worth NCICP is a modern port facility that will address congestion caused by the continuous growth of commerce and trade at the existing Cebu Base Port.
“Once completed, this will not only make goods more affordable but will also generate thousands of jobs for our people. Apart from this, it will also create more opportunities for everyone as it will provide increased space for port activities,” Marcos said.
The P28.78 billion CBRT is a modern bus network project that would connect key parts of Cebu City, making daily commutes easier and more comfortable, especially for its locals.
Through the BPIA expansion, the annual airport passenger capacity will increase to 3.9 million by 2023 from two million to 2.5 million passengers annually by 2026.
The P4.53-billion project to be implemented in two phases is expected to generate P15 million in annual revenue during its first five years, increasing to P200 million per 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,” said Marcos.
“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,” he added.
Marcos lauded the signing for the construction of the new Dumaguete and Siargao regional airports, which are expected to create more opportunities for students, workers and businesses to boost tourism and trade in the said provinces.
He expressed confidence that the new airports would meet global standards and bring positive changes to residents of the provinces.
He said the projects will also enable farmers to efficiently bring produce to new markets, tourists to discover more of the unique charms of Dumaguete and Siargao, and entrepreneurs to expand their businesses.
Marcos reiterated his administration’s commitment to provide a more comfortable travel, better opportunities, and a clearer path toward the future.
“My fellow Filipinos, the future will not simply come to us—we must be the ones to build it. And this is how we will move forward. So, [let’s] together build a better Philippines we can proudly bequeath to our children,” he said. (TPM/SunStar Philippines)
