PH needs ‘transformational infrastructure’

BUSINESSMAN Enrique K. Razon Jr.—one of the country’s wealthiest men—isn’t worried about who the next Philippine president will be. After all, he is known to cultivate strong ties with whoever the current Malacañang Palace tenant is.

But seven months before the hotly contested 2016 presidential elections, the ports and gaming magnate already knows what he wants from the next president.

“If the next president ends up doing a really good job, it will be because he or she will build transformational infrastructure,” Razon said in an interview with the Inquirer during the 2015 Forbes CEO Global Conference. “I want a leader who will focus on catching up in [terms of] badly needed infrastructure that we lack.”

As the chair and CEO of International Container Terminal Services Inc., Razon knows whence he speaks. His flagship ports business was hit last year by an economy-crippling cargo congestion problem aggravated by a local government truck ban and worsened by the lack of alternative roads for trucks to move cargo into and out of his port.

But Razon, whose net worth is estimated at $3.7 billion, is already looking way beyond just new roads.

“We also need a new airport,” he said. “All our neighbors have built their airports, from Hong Kong, Kuala Lumpur, Thailand… you name it. We need to do the same if we really want to boost the country.”

He urged the government to finance the construction of the new international airport because such a massive financial undertaking might be too much for a private firm to handle alone.

“I don’t see how a private party can build an entire new airport and make money out of it, because you’re talking of [spending for] at least two [international] runways, and maybe one or two domestic runways,” the businessman said. “How will a private proponent make money?”

Once the airport is build, the government can bring in private firms to operate the terminal and aircraft handling operations, or even privatize the entire airport, but the debate on the final method should be set aside for now given the urgency of the need.

“The government already has the money,” Razon said. “They can privatize it after, that’s fine. Or not. It doesn’t matter. The country needs it.”

To solve the massive traffic gridlock that paralyzes Metro Manila’s road network everyday, Razon urged the government to build a subway system that would decongest the city.

“We have to face the fact that Metro Manila needs a subway system instead of all these ugly MRTs and LRTs all over the place, with the buses there and jeepneys still around,” he said. “We need an integrated subway system. It’s a worthwhile investment even if it costs $20-$25 billion.”

“First of all, the government has the capacity to raise that kind of money,” Razon explained. “Secondly, I think it’s quite obvious that we need to have some kind of transformational infrastructure.”