Marcos: Panguil Bay Bridge to have ‘ripple effect’ on Mindanao economy
FILE PHOTO: People work to complete the Panguil Bay Bridge, the longest in Mindanao as it connects the Municipality of Tubod in Lanao del Norte and Tangub City in Misamis Occidental. PHOTO COURTESY OF LANAO DEL NORTE PROVINCIAL INFORMATION OFFICE
MANILA, Philippines — President Ferdinand Marcos Jr. on Friday said the newly inaugurated Panguil Bay Bridge is expected to help lift local businesses in Lanao del Norte and Misamis Occidental, and eventually in the entire Mindanao region.
The Panguil Bay Bridge is the longest in Mindanao as it connects the Municipality of Tubod in Lanao del Norte and Tangub City in Misamis Occidental.
“It will have a ripple effect on local businesses…the bridge is a gateway to where distance no longer limits our dreams, where aspirations can take flight, and where the ambitions of entrepreneurs fuel growth and prosperity,” Marcos explained in his speech during the bridge’s inauguration.
READ: Mindanao’s longest bridge to open Sept. 27 – DPWH
Marcos also said the Panguil Bay Bridge will serve as a “building block” of Mindanao as it is anticipated to spur economic activity in the region.
Article continues after this advertisement“The bridge connects two provinces, we all know the increased economic activity is going to be an important building block for both provinces and the entire Mindanao,” he added.
Article continues after this advertisement“More than just a physical bridge we are connecting the dreams and aspirations of Lanao del Norte and Misamis Occidental,” he continued.
The Panguil Bay Bridge is seen to cut travel time between Tangub City and Tubod from two hours to only seven minutes.
Marcos said this improvement in travel time would allow 24/7 mobility of people, goods and services that could bring positive impacts on Mindanao’s economic and tourism activities.
Marcos thanked the Republic of Korea’s Economic Development Cooperation Fund (EDCF) for supporting the construction of the bridge project through a loan.
Marcos said that apart from the Panguil Bay Bridge, the EDCF is likewise funding 21 ongoing and two upcoming infrastructure projects.
The construction of the P7.37-billion Panguil Bay Bridge project started on Feb. 28, 2020.
