The Subic Bay Metropolitan Authority (SBMA) said President Duterte needed to approve its wish list of infrastructure projects in Subic in a year’s time before investors lose interest in pursuing the proposed projects.
SBMA chair Martin B. Diño told reporters on the sidelines of a forum on Tuesday that he had been courting the approval of members of the Cabinet, including President Duterte, for a string of projects with a combined cost of around P140 billion.
The proposal for the infrastructure projects was first raised in November last year through a memorandum sent to the National Economic and Development Authority-Investment Coordination Committee (Neda-ICC).
About six months after, Diño said that his proposal had reached various government agencies, including the Department of Transportation and the Bases Conversion and Development Authority. However, he said he was still waiting for Malacañang to greenlight the projects.
“It’s up to the national government how they would fast-track the processing of the paper. (Investors) will not wait forever. If we don’t finish this in one year, they will transfer some place else,” he said, referring to investors who will shoulder the entire costs for the proposal.
When asked if the foreign investors gave this ultimatum, he said no, but clarified that “ganoon talaga ang labanan.”
A bulk of the cost would be allotted for the 65-kilometer multimodal expressway directly connecting Subic Freeport to Manila. It is estimated to be around P91 billion.