Bicol Express revival eyed as high-impact infra project
A party-list solon is hoping that the proposed revival of the Philippine National Railways’ (PNR) Bicol Express rail line will be included in the list of 80 high-impact infrastructure projects that President Ferdinand R. Marcos Jr. has identified for financing through the Maharlika Investment Fund (MIF).
Bicol Saro Party-list Representative Brian Raymund Yamsuan said the reconstruction of the Bicol Express into a modern railway system would provide the Bicol region and the rest of South Luzon the momentum it needs to speed up its economic expansion.
The revival of the Bicol Express or the South Long Haul Project, fits the President’s criteria for MIF financing of providing “high rates of return and significant social and economic impact” for its beneficiaries, Yamsuan said.
Yamsuan added that the project is also in sync with the MIF’s priority investment thrusts which include tourism infrastructure as outlined recently by newly appointed Maharlika Investment Corp. (MIC) president and chief executive officer Rafael Jose Consing Jr.
“Reviving this once-glorious rail line would boost South Luzon’s economic growth, create hundreds of thousands of new jobs and livelihood opportunities, and reenergize Bicol’s tourism industry,” Yamsuan said.
In his closing keynote address at the Philippine Economic Briefing (PEB) held in San Francisco, California last week, President Marcos told potential investors that about 80 infrastructure projects have been identified as “financeable” through the MIF.
These projects offer “high rates of return and significant social and economic impact,” according to the President.
