The Future of Infrastructure: Creating Opportunities for Tomorrow

Infrastructure plays a pivotal role in attaining economic development. It serves as the backbone of a healthy economy as it is the foundation for a country's various sectors. These infrastructures act as catalysts for growth by stimulating investments and boosting productivity, which in turn improves the country's standard of living.

Over the last decade, the Philippines has registered an average annual growth rate of 6.3 percent (International Monetary Fund, 2020). To be able to sustain this growth, however, the country must continue to improve its infrastructure development. In line with this, the country has increased its public infrastructure investment to over 5 percent of the GDP in 2018 from an average of 3 percent during 2011 to 2016. The government's flagship program, Build Build Build, addressed some of the major barriers in terms of transportation, energy, and water resources. The $180 billion program included high-ticket projects across the country.

Efficient infrastructure in the form of road and railway transportation systems, airports, electricity, seaports, and their quality management system is necessary for the Philippine economy's integration. For instance, quality transportation and internet services would help bridge the gap between the rural and urban populations. Meanwhile, climate-resistant infrastructure such as irrigation and water management systems would mitigate the impact of weather-related natural disasters. Ultimately, these would lower the cost of doing business in the country and attract more investors. Nevertheless, potential economic growth will be adversely affected by deteriorating infrastructures.

With the mission to provide an ideal solution to extensive hindrance in increasing infrastructure investment, the European Chamber of Commerce of the Philippines will be hosting a conference entitled "The Future of Infrastructure: Creating Opportunities for Tomorrow", on 27 April 2022 from 2:00 to 3:30PM (GMT+8) via Zoom. This webinar will feature speakers having large-scale knowledge, especially on the possible outlined policy steps the government could take to facilitate more investment in project development and implementation.