Government Strategies in the Water Transport Sector: A Closer Look at Philippine Ports ; PIDS: Discussion Paper Series ; No. 2021-47
In: http://hdl.handle.net/11540/14722
Transport infrastructure is one of the key elements in achieving a balanced growth within an economy. It facilitates economic development and convergence, eases economic disparities, and fosters territorial cohesion (Bottasso et al. 2014). It also accelerates the integration of a country into the world market through international trade. At large, transport infrastructure helps improve a country's competitiveness in the global market (Aqmarina and Achjar 2017). As global economic activities involve manufacturing processes done in several countries, efficient transport systems are thus needed to ensure the smooth transfer of products from one economy to another (Zhang et al. 2015). To an archipelagic country such as the Philippines, the water transport sector specifically takes on a much larger role given its heavy reliance on port services to move its products within and outside the country. Recent data suggests that almost all domestic commodities (99.9 percent) are being traded through water (Philippine Statistic Authority 20211). Hence, the performance of the water transport sector heavily impacts the performance of the whole economy.