Quantcast
Article Index |Advertise | Mobile | RSS | Wireless | Newsletter | Archive | Corrections | Syndication | Contact us | About Us| Services
 
Wed, Nov 02, 2011 09:24 AM Philippines      25°C to 33°C
  HOME       NEWS     SPORTS     SHOWBIZ AND STYLE      TECHNOLOGY     BUSINESS     OPINION      GLOBAL NATION    SERVICES
Advertisement
Inquirer Mobile
Property Guide

INQUIRER ALERT
Get the free INQUIRER newsletter
Enter your email address:

 
Money/ Breaking News Type Size: (+) (-)
You are here: Home > Business > Money > Breaking News

  ARTICLE SERVICES      
     Reprint this article     Print this article  
    Send Feedback  
    Post a comment   Share  

  RELATED STORIES  




imns


RP to ask private sector to build airport terminals


Agence France-Presse
First Posted 18:25:00 08/18/2010

Filed Under: Air Transport

MANILA, Philippines?The cash-strapped Philippines said Wednesday it will call on the private sector to help build up to six airport terminals as it bids to boost the country's finances through increased tourism.

With the government needing to create jobs to ease widespread poverty while faced with a huge budget deficit for at least the next two years, tourism could become a key economic driver, Finance Secretary Cesar Purisima said.

"This is one of the low-hanging opportunities that's almost there, except we need to build the infrastructure so tourists can get to tourist attractions and we can become a major tourist market," he told reporters.

Tourism Secretary Alberto Lim said the government could attract businesses using "build-operate-transfer"?where a private group builds infrastructure, operates it for profit for a period and then transfers ownership to government.

He said the government was aiming to double the number of annual tourist arrivals to six million by 2016.

"We have identified six primary hubs," Lim said, naming the central island of Bohol as one area that needed a bigger airport to handle surging visitor traffic.

"The government can build the horizontal (runway and access roads), the private sector can build the vertical (passenger terminals)," he added.

Bohol and the five other planned hubs would funnel traffic from the main gateways of Manila and Cebu into the main tourist zones, he added.

The Philippines expects its budget deficit for the full year to hit 293 billion pesos (6.50 billion dollars), equivalent to 3.9 percent of gross domestic product.

Trade Secretary Gregory Domingo said the new Aquino administration's six-year development programme was anchored on its ability to mobilise private-sector investment.

"Given scarce government resources, it is private sector investment that will provide the growth and jobs needed in our economy," Domingo added.

"We need to improve our competitiveness. We need to make the investment climate more predictable," he added.



Copyright 2011 Agence France-Presse. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.



Share

RELATED STORIES:

OTHER STORIES:



  ^ Back to top

© Copyright 2001-2011 INQUIRER.net, An INQUIRER Company

The INQUIRER Network: HOME | NEWS | SPORTS | SHOWBIZ & STYLE | TECHNOLOGY | BUSINESS | OPINION | GLOBAL NATION | Site Map
Services: Advertise | Buy Content | Wireless | Newsletter | Low Graphics | Search / Archive | Article Index | Contact us
The INQUIRER Company: About the Inquirer | User Agreement | Link Policy | Privacy Policy

Advertisement
Megaworld
Jobmarket Online
Inquirer VDO
BizLinq