NLEX upgrade boosts Central Luzon economy

The economic growth of Central Luzon accelerated  after the modernization of the North Luzon Expressway in 2004, latest data from the National Statistical Coordination Board show.

Central Luzon posted a growth rate of 23.4 percent for the period 2005-2011 from 2000-2004.

The growth rate for the same period 2004-2011 in Calabarzon is negative 0.13 percent. The National Capital Region posted a 1.61 percent growth for the same period 2004-2011.

The Philippine economy grew 7.13 percent for the period 2004-2011 from the period 2000-2004.

Manila North Tollways Corp., the NLEX builder and concessionaire, sees more stable and stronger economy in this region in the years to come. “Expressways represent a development force that deeply alters the socioeconomic status of any region or province. These NSCB figures affirm once more the development role of positive exposures,” said Ramon Fernandez, president of Metro Pacific Tollways Corp.

MNTC said many sectors had contributed to the economic development of the Central Luzon.

“While not claiming a cause-and-effect relationship between the regions’s quickened development and the full operations of NLEX, we are happy to contribute to the dramatic economic growth of the region through the accessibility and convenience of the NLEX,” said MNTC president Rodrigo Franco.

“There is the state of prosperity in tourism, real estate development, agriculture, fisheries, among other sectors. What we provide them is quality transport infrastructure and services that drive trade and commerce,” added Franco.

MNTC said the NLEX had been a hassle-free expressway for businessmen, tourists, passengers and bus drivers traveling to and from northern and central Luzon.

 

Source: http://business.manilastandardtoday.com/2012/05/26/nlex-upgrade-boosts-central-luzon-economy/

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