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Philippine President Rodrigo Duterte holds up cash for evacuees from the fighting in Marawi while visiting an evacuation center in Iligan on June 20.   © Reuters
Stocks

Philippines Inc., investors march to beat of Duterte's drum

Infrastructure-related stocks up as maverick leader finishes first year

CLIFF VENZON, Nikkei staff writer | Philippines

MANILA -- At a station-marking ceremony for the upcoming 106km Manila-Clark railway project, Transportation Secretary Arthur Tugade announced a part of a grand plan that seeks to define President Rodrigo Duterte's economic legacy.

"We hope to finish the term of President Duterte with at least 1,000km of railway system all over the country," Tugade said Monday. The Southeast Asian nation's four current rail lines service a combined distance of less than 100km.

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