Dev’t of Laguindingan Int’l Airport expected to boost tourism, attract more investors, and create more opportunities in northern parts of Mindanao

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Transcript

00:00It is the nation's second busiest airport and is perfectly located between the highly urbanized cities of Iligan and Cagayan de Oro,

00:07the gateway to northern Mindanao.

00:09Hence, its potential to draw even more international visitors and tourists is unlimited

00:14as one of the biggest business in the country is all eager to tap into this huge economic windfall

00:20once the makeover and upgrade is complete.

00:22Arcleso Pardilha has more on this PPP deal on Misamis Oriental.

00:30A few months after the management of Ninoy Aquino International Airport was handed over to the private sector,

00:37a new public-private partnership concession agreement was finalized today.

00:42This time, the second busiest airport recognized as the main gateway to northern Mindanao,

00:47Lagindingan International Airport.

00:50President Ferdinand R. Marcos Jr. witnessed the signing of the agreement

00:54between the Department of Transportation and Aboitiz Infracapital,

00:58which will oversee the upgrade, operations, and maintenance of the airport for the next 30 years.

01:05The signing of this concession agreement for the Lagindingan International Airport public-private partnership project

01:12provides us with the opportunity to expand the facilities, upgrade the terminals,

01:17augment capacity, and deliver our services in a safer, efficient, and more convenient way.

01:24This also shows our commitment to invest in the development of northern Mindanao.

01:29The project aims to modernize the airport, enhance services, and increase capacity.

01:35Currently, the airport accommodates 1.6 million passengers annually,

01:40which will gradually increase to 6 million within the concession period.

01:45This project has been in the works for 10 years.

01:51Thanks to the administration of President Marcos' strong leadership

01:56and focus, and I mean focus, on the private-public partnerships,

02:03he made it happen in just over two years.

02:07We look forward to the day that we have international flights going to northern Mindanao,

02:13carrying our air values and our tourists.

02:19Lagindingan International Airport has a significant strategic advantage

02:24due to its proximity to Cagayan de Oro, Iligan City, and is surrounded by highly urbanized provinces.

02:31It is expected to boost tourism, attract more investors,

02:35and create more opportunities for those in northern parts of Mindanao.

02:40Lagindingan's transformation should promote regional growth,

02:46generate jobs and livelihood, and create investment opportunities.

02:51The project is valued at Php 12.75 billion.

02:55The government anticipates revenues exceeding Php 3 billion.

02:59Additionally, it will generate approximately 32,000 new jobs.

03:04According to the Department of Transportation,

03:0715 more airports are slated for public-private partnership agreements.

03:12This initiative is part of the government's broader program

03:15to enhance connectivity and accessibility across various regions of the Philippines.

03:21Kalei Salparilia for the new and better Philippines!

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