Albay Governor Joey Salceda said the national government needs P1.2 trillion to further improve the economic and social growth in the eight regions of Luzon.
Salceda, who chairs the Luzon Regional Development Committee (RDCom), said the amount will fund at least 16 mega-infrastructure projects for Luzon from 2015 to 2045.
The RDCom has formulated the Luzon Spatial Development Framework (LSDF) plan, which would cover the Cordillera Autonomous Region, Ilocos, Cagayan Valley, Central Luzon, Calabarzon, Mimaropa, Bicol and the National Capital Region.
Citing budgetary figures, Salceda said the Metropolitan Manila Development Authority (MMDA) alone is spending P68 billion a year, while it actually needs P1.3 trillion to decongest Metro Manila.
Salceda said once the proposal has been approved by the RDCom, this will be endorsed to the NEDA Board for adoption.
The LSDF has adopted strategies that would link communication, transportation (land, air, sea) and economic infrastructure system through a high-standard highway system from Ilocos Region down to Bicol.
In Bicol region, projects lined up include the North-South Railway Project, which has a total project cost of P340 billion and the new Naga Airport Project, which involves the reorientation of the airfield, and carries a P3.5-billion funding requirement, Salceda said.
[bctt tweet=”Luzon needs P1.2 trillion to improve economic growth, Salceda says”]