By Juan Escandor Jr.
NABUA, Camarines Sur---Presidential Spokesperson Harry Roque announced Tuesday that the country is moving closer to have the subway system that will help alleviate the traffic congestion in Metro Manila.
“The Philippines has signed a loan with the Japanese government worth ¥104.5 billion or P51.3 billion to finance the initial phase of the subway flagship infrastructure project, the biggest project funded by Japanese ODA (overseas development assistance),” Roque said.
He said the construction of 36 km subway will begin next year and expected to be finished by 2025.
“The subway will begin partial operation by 2020,” Roque said.
He said that once completed, the subway will have 16 stations to run from Mindanao Avenue in Quezon City up to Ninoy Aquino International Airport.
Roques said the good news for the Philippines continues as the manufacturing investment in the country has surged in 2017 by 244 percent, citing data from the Department of Trade and Industry (DTI).
Roque said the DTI has recorded $1.15 billion compared to only $334.3 million in 2016.
He said the top manufacturing sectors including food, production of radio, television, communication equipment, apparatus, chemical and non-chemical products, fabricated metal products, metallic and non-metallic products.
Roque said the largest equity investment scheme came from Singapore, Japan, the Netherlands, United States and Luxemburg.