South Korea reiterates its willingness and interest in actively participating in the “Build, Build, Build” program of the Duterte Administration. It was disclosed by Lee Hyuk secretary general of Association of Southeast Asian Nations (ASEAN) Korean Centre, reported by PNA.
Lee Hyuk was a former ambassador to the Philippines for almost three years. He said South Korea “has shown high interest to actively participate in this (Build, Build, Build) program.”
Hyuk mentioned that South Korea and Philippines “agreed to expand (their) Economic Development Cooperation Fund (EDCF) up to 1 billion US dollars to further strengthen mutual cooperation in transportation, infrastructure, energy, water management, and information technology sectors.”
The objective is to help its old ally while currently in the development and boosting its infrastructure sector. According to International Monetary Fund data, Lee Hyuk described Philippines as one of the fastest growing economies in the world.
The current administration’s program “Build, Build, Build” is predictable to boost the national infrastructure expenditure of the Philippines to 7.3 percent of the country’s GDP by 2022, according to the report.
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