130T worth of project in PH in construction industry bares

130T worth of project in PH in construction industry bares
Department of Trade and Industry (DTI) Secretary Ramon Lopez (Center) led the 4th Philippine Construction Industry Congress last January 8, at Dusit Thani Manila in Makati City. Photo From DTI-OSEC

By THEPHILBIZNEWS STAFF

The 4th Philippine Construction Industry Congress which was held last January 8, at the Dusit Thani Manila Makati City where industry stakeholders from the government and private sectors revealed their action plans to implement the Philippine Construction Industry Roadmap 2020 – 2030.

Led by Department of Trade and Industry (DTI) Secretary Ramon Lopez, the roadmap is fully implemented, the construction industry stands to have a cumulative value of PHP 130 trillion by 2030, vis-à-vis PHP 43 trillion without the roadmap.

The 7+1 Action Plan details steps in eight aspects: modernization and digitization; communications; government-industry-academe partnership; construction services exports and outsourcing; professional skills upgrading; policy reform; revitalizing the Construction Industry Authority of the Philippines (CIAP); and creating an Infrastructure Master Development Plan. Philippine Overseas Construction Board (POCB) Chairman Isidro Consunji advocated for a long-term infrastructure development plan to sustain the industry’s growth beyond the Duterte administration.
The Trade Chief said, the DTI will back legislation to institutionalize the Build Build Build program since infrastructure is vital to attract more investments for the Philippines. The construction industry also currently employs 3.9 million people and is projected to grow to 7.1 million by 2030.

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