A premier gateway for Western Visayas

I had the privilege of writing in this space last week about the need to focus on investments in key areas such as infrastructure. These infrastructure projects form a central, crucial part of our economic agenda because of the multiplier effects they bring.

Next month, President Ferdinand Marcos Jr. is set to present his third State of the Nation Address. Stressing the importance of infrastructure, and update the nation on the initiatives that have progressed or even realized success since last year’s speech will be among the anticipated themes.

Specifically, infrastructure investments under the Build Better More program will enhance efficiency by improving transportation and reducing costs and time for goods and services movement.

No less than the Philippine Development Plan 2023-2028 acknowledges that we need infrastructure investments. And, as always, the best way to go about this is for the public and private sectors to collaborate.

With the mandate to undertake projects for the good of the people, the government provides direction while the private sector provides the financial and technical muscle. Public private partnerships are a proven strategy to harness the private sector’s vast experience and impeccable track record in building and operating critical infrastructure projects.

One example that comes to mind is the Visayas Container Terminal (VCT) in Iloilo City, which is being undertaken under a 25-year concession agreement between the government and the International Container Terminal Services Inc (ICTSI).

Who does not know ICTSI whose global financial and technical capability in port operations has been proven many times over? Now it is committing substantial capital to upgrade VCT into a state-of-the-art maritime gateway.

ICTSI's modernization efforts at VCT are aimed at reinforcing supply chain resilience in the region. By reducing trade costs and eliminating operational bottlenecks, the upgraded terminal will ensure a more reliable and efficient supply chain.

This enhanced logistics capability will foster the development of regional value chains and production networks, driving economic growth and strengthening intra-regional trade and