Significance of Toll Road Industry and the North Luzon Expressway ( NLEX ) Concession in the Filipino Economy
Viewed from the position of the entire route web of the Philippines holding 202. 000 kilometer. . the current length of all tolled freewaies ( about 320 km. ) in the state represent a mere 0. 16 % . At the same clip. all are runing and located in the Mega Manila country tracking the National Capital Region and nearby states in Central Luzon and Southern Tagalog part. Available fiscal informations and a degree of estimate besides indicate that entire toll grosss collected for 2011 of about PHP 14 bio represent merely a small over 0.
10 % of the country’s nominal gross domestic merchandise ( GDP ) .
It has been recognized by the National Government that an efficient conveyance system together with an integrated and comprehensive route web are cardinal indispensable drivers to spur economic growing and activity. This is peculiarly true for a underdeveloped state such as the Philippines. where 90 % of all rider motions and half of freight motion are handled by our route web system [ NEDA-MTPDP 2004-2010 ] .
Making them integrated and comprehensive would lend to take downing transit costs and better well the transportation of goods and services across metropoliss and parts. However. this push is an project that the authorities has realized it can non put to death on its ain.
As such. one of government’s cardinal scheme in the yesteryear and continues to be an built-in portion of the program to develop substructure in the state is the engagement of the private sector. ab initio under the “Built-Operate-Transfer ( BOT ) ” model and now known as “Public-Private Partnerships ( PPP ) ” . From this context. the function of the toll route industry in the conveyance sector and the overall substructure development program of the authorities could be considered a important concern. The industry has and continues to lend in decongesting heavy concentration of motions in industrial hubs and Metro Manila. It has similarly provided critical entree and maintains indispensable linkages to and across economic zones in Northern and Southern Luzon. To a certain extent. the industry contributes in distributing economic activities to developing countries.
A specific instance to indicate out is the rehabilitation and modernisation of the 84 kilometers North Luzon Expressway ( NLEX ) undertaken as Phase 1 by our group. This undertaking has been labelled one of ( if non ) the largest substructure undertaking in the Philippines in the last 10 old ages with entire undertaking cost of USD 384mio. Undertaking financing involved fiscal establishments from Europe and Australia and included the Asian Development Bank ( ADB ) and International Finance Corporation ( IFC ) of the World Bank Group. Completed in clip and within budget. the rehabilitated and modern NLEX continues to lend and/or impact the socio-economic landscape with the undermentioned findings ( as studied by the University of the Philippines Planning and Research Foundation from 2004 to 2006 ) .
Cite this Economic Growth and Development Paper – NLEX Sample
Economic Growth and Development Paper – NLEX Sample. (2017, Aug 05). Retrieved from https://graduateway.com/economic-growth-and-development-paper-nlex-essay-sample-essay/