The construction industry is optimistic about its growth prospects amid sustained activities brought by the reconstruction of infrastructure damaged by storm Ondoy and typhoon Pepeng, as well as election spending next year.
“We grew 6 to 7 percent last year. We are looking at the same growth this year. It may just be single-digit growth but considering the likes of Singapore, whose industry contracted by 27 percent, we already did very well,” said Anthony Fernandez, president of the Philippine Constructors Association. Fernandez is president and chief operating officer of First Balfour Inc.
The construction industry did not suffer much from the financial crisis that gripped most global economies.
“Next year, election spending should help boost construction activity in infrastructure. With the financial crisis, we also saw remittances from Filipinos overseas going up and a large portion of these remittances go to house construction as well as commercial development,” said Fernandez.
He also said that there were opportunities for the construction industry in government’s reconstruction efforts.
“There is opportunity in reconstruction but these efforts must be sustainable and go beyond the current administration. A lot needs to be done. Waterways should be cleared first and then informal settlers must be relocated,” said Fernandez.
He said the industry players had met with businessman Manuel Pangilinan, who heads the private-public task force on reconstruction.
“It was a very good meeting between the construction players and Pangilinan. The foundation that he heads is doing a lot now on recovery,” said Fernandez.
He noted a shift in construction spending, with government now accounting for a larger portion of construction activity compared with the private sector.
“Previous to 2008, leading construction is the private sector with 60 percent and government accounting for only about 40 percent of construction activities. With the crisis in 2008, the government has taken the lead and now accounts for 60 percent of construction activities,” said Fernandez. –Elaine R. Alanguilan, Manila Standard Today
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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