Lahat masikip! RSA says PH losing P4T a year from choked roads, ports
Ungodly traffic is costing the country a lot.
Bilyonaryo Ramon Ang said the Philippines is bearing the ugly cost of worsening traffic in metropolitan roads. Citing estimates, the San Miguel president said losses amount to P3.5 billion per day, or a whopping P1.2 trillion a year. Add to that wasted “millions of man-hours.”
On top of that, congested airports also mean more than P3 billion in daily losses due to additinoal operating costs and productivity losses.
“We must build a new international airport with four parallel runways within an hour’s drive of major cities within Metro Manila, and connected by mass transit and major toll roads spanning north to south and east to west,” Ang said during the Philippine Business Conference on Thursday, Oct. 19 at the Manila Hotel.
Congested seaports also come with a price tag of billions per day, with Ang citing the need to build a major seaport outside Metro Manila.
“On average, we are losing P3 to P4 trillion per year to traffic, airport and seaport congestion. If we can solve this, our cost of doing business will improve tremendously. This is what foreign investors are looking for,” the bilyonaryo said.