Wednesday, July 17, 2024

Economic Czar Wants Right-Of-Way Law To Fast-Track Infra Projects

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Economic Czar Wants Right-Of-Way Law To Fast-Track Infra Projects

4434

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Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go emphasized the urgent need for a right-of-way law to fast-track critical infrastructure projects in the country.

The Marcos administration’s economic czar told reporters on the sidelines of an industry awards night in Taguig City Thursday, that creating and passing an efficient right-of-way law is part of his wish list for the 19th Congress once it starts the next session in the second half of the year.

“For infrastructure, we need a very good law on right of way. Many of our infrastructure projects require an efficient way of securing the right of way to speed them up,” Go said.

The current delays in securing the right of way are a major bottleneck for various infrastructure projects across sectors, such as transportation, energy, and water.

“All infrastructure projects could benefit from a better right-of-way law, whether we are talking about roads, transportation, energy, water, or other utilities. We need to move forward at the soonest possible time,” Go said.

He also expressed hope that Congress would soon pass the Corporate Recovery and Tax Incentives for Enterprises Maximize Opportunities for Reinvigorating the Economy, or the CREATE MORE Bill, which remains his top priority legislation.

“We have several bills that affect the economy, and we certainly would like to work very closely with Congress, both the upper house and the lower house, to get these bills passed as soon as possible,” Go added.

“The wonderful thing is Senate President Chiz Escudero is very supportive of the bills that will help promote our economy.”

In addition to the CREATE MORE Bill and the right-of-way law, Go mentioned other legislative priorities, such as the creation of a Department of Water.

He said this new department aims to ensure sustainable water management and efficient delivery of water services, which could keep costs low.

“We believe water can be used three times – for generating energy, for agriculture, and then for drinking. A well-orchestrated program to capture and manage water efficiently is essential,” Go said.

He added that his office also supports the taxation on digital services being pushed by the Department of Finance. (PNA)