The Future with Billions of Pesos

In the past week, I have been listening to what the future may hold for Camarines Sur. Billions of pesos’ worth of projects are being promised: new airports, smart cities, sports hubs, even a coconut-based “Coco Cola” drink. For one of the country’s poorest provinces, all this talk of billions is both overwhelming and, yes, a little dizzying.

Camarines Sur belongs to one of the poorest regions in the Philippines, next only to Eastern Visayas and the Bangsamoro Autonomous Region. So when local leaders boast about billions, ordinary people can’t help but ask: will any of that money reach the barangays, the classrooms, the health centers—or will it remain just numbers in government ledgers?

We have heard too many stories of billions wasted: flood control projects that washed away, ghost bridges, pocketed funds. Against that backdrop, hearing about grand plans for Camarines Sur feels refreshing, but it also invites skepticism.

At a Camarines Sur Chamber of Commerce dinner last September 30, Governor Raymund “LRay” Villafuerte proudly announced that the province had been ranked the 3rd wealthiest in 2023, with ₱33.4 billion in assets. The applause was faint. Everyone knew the truth: CamSur may look rich on paper, but its people remain poor.

In simple terms, “wealth in assets” means owning land, infrastructure, and properties. It does not mean families have money in their pockets. Assets are not cash that can be spent on daily needs. It is like owning a big house but struggling to buy groceries, or having rice fields but no money for seeds. The real test is whether these assets are used wisely to improve lives.

Among the governor’s announcements was the revival of a CamSur-made “Coco Cola”—a coconut water drink designed to taste like cola. Farmers are supposed to provide the raw materials, processed at a new facility in Pili. Exciting, yes, but familiar. Back in 2011, the same project was promised: a $15-million plant, millions of liters of coconut water, a thousand jobs. The launch never happened. Now it is being rebranded for 2026. People will believe it when they see it. Who does not want all these to happen and succeed?

Another flagship plan is the Naga Airport runway extension so it can handle larger aircraft like the Airbus A320. The Department of Transportation has a ₱14-billion modernization program for regional airports, but land disputes have delayed it for years.

Beyond that, the governor laid out his ambitious 12-Point Agenda:

• A multi-billion peso eco-friendly Capitol Complex doubling as an evacuation center.

• “CamSur Uptown,” a planned smart city with tech parks and AI-ready infrastructure.

• Tourism and sports hubs—an upgraded CamSur Watersports Complex, golf, wellness, even medical tourism.

• Agriculture growth, superfoods, and coconut by-products.

• The El Verde Program to plant 100 million trees by 2034, plus renewable energy projects like a 1,000 MW offshore wind farm in San Miguel Bay.

• Better health care, more scholarships, and province-wide WiFi.

• Big-ticket connectivity: a high-speed rail from Manila, a new seaport in Pasacao, and the revival of the “Bicol Express” railway.

On October 1, Denmark’s Ambassador Franz-Michael Mellbin and teams from Copenhagen Infrastructure Partners (CIP) and ACEN Corporation introduced to the same business sector and other stakeholders a ₱170-billion offshore wind project in San Miguel Bay aligned with the province’s development program. Denmark is known for renewable energy and good governance, and their confidence in CamSur is significant.

The project envisions up to 1 gigawatt of offshore wind capacity—enough to transform the province’s energy profile and economy. If operational by 2028, it could generate 2,500 direct jobs, create opportunities for local suppliers, and provide cleaner, more stable energy. Done right, this is the kind of billion-peso project that could truly change lives.

And yet, the hurdles are familiar. Offshore windmills may displace fisherfolk, raising the need for livelihood alternatives. The PNR South Long Haul railway has stalled due to funding disputes. Right-of-way issues and land acquisition have delayed countless projects before.

Most of all, public trust is fragile. With the Villafuertes long entrenched in politics, many fear projects are less about uplifting communities and more about consolidating dynastic power. Political clout can fast-track approvals and attract investments, but it can also breed favoritism and mismanagement. At the end of the day, good governance—not political dynasty—will decide whether Camarines Sur truly prospers.

Camarines Sur may boast ₱33.4 billion in assets, but assets are not bread on the table. Wealth only matters when it becomes schools for children, medicines in health centers, jobs for farmers, or clean energy powering homes. Billions can build good futures—but only if there is no waste, no corruption, and if people are at the center of development.

In the end, the measure of progress will not be in ledgers, but in the lives lifted.