The National Economic and Development Authority (NEDA) Board yesterday approved 194 high-impact priority projects worth P9 trillion under the new Infrastructure Flagship Projects (IFPs) as well as the amendments to the 2013 Joint Venture (JV) Guidelines to improve the public-private partnership coordination.
Arsenio Balisacan, socioeconomic planning secretary and NEDA head, in a briefing after the 4th board meeting in Malacanang, said the “two game-changing initiatives” are expected to raise investments and transform the Philippine economic landscape. The NEDA board is chaired by President Ferdinand Marcos Jr.
Balisacan said the new IFP list includes infrastructure flagship projects in physical and digital connectivity, water resources which include projects in irrigation, water supply and flood management, and other infrastructures in health, power and energy, and agriculture.
He said these projects are aligned with the priorities under the eight-Point Socioeconomic Agenda of the Marcos’ administration and the plans outlined in the Philippine Development Plan for 2023-2028.
Among these projects are: the Panay Railway Project; Mindanao Railway Project III; North Long-haul Railway; San Mateo Railway; UP-PGH Diliman Project; Ninoy Aquino International Airport Rehabilitation Project; Ilocos Sur Transbasin Project; and the Metro Cebu Expressway, among others.
“We will connect and integrate markets to enable access to more opportunities for local industries, enhance the productivity of our young and vibrant labor force, and create safer infrastructure for future generations. Ultimately, we wish to improve the overall quality of life for all Filipinos and empower every citizen to live a matatag, maginhawa, at panatag na buhay,” Balisacan said.
The NEDA is the lead agency monitoring the implementation of the IFPs to ensure the quality and timeliness of project execution.
Balisacan said the new IFPs are seen to address the binding constraints to business investment and expansion that will create more, high-quality and resilient jobs that will allow the Philippines to meet its poverty-reduction goals for the medium term.
He said the projects will adopt an optimal mix of financing from various development partners or official development assistance (ODA), the national government or the general appropriations and the private sector or the Public-Private Partnerships (PPPs).
He said 45 of the IFPs are seen to be financed through partnerships with the private sector.
“The government shall harness the financial and technical resources of the private sector, which allows the public sector to allocate its funds for greater investments in human capital development, especially to address the scarring in health and education due to the pandemic and provide targeted assistance that protects vulnerable sectors from economic shocks,” he added.
Balisacan said the NEDA Board also approved the proposed amendments to the 2013 NEDA JV Guidelines which will help enhance competition for projects under joint ventures, ensure better performance of private-sector participants, and improve checks and balances to ensure that the project is technically and financially sound.
He said the changes will also ensure the guidelines are aligned with the provisions of the recently amended Build-Operate-Transfer (BOT) and its implementing rules and regulations and the proposed amendments to the BOT Law or PPP Act pending in Congress — both expected to be passed by this year.
Balisacan said the Marcos administration’s thrust for infrastructure “shall enable the transformation of the Philippine economic landscape within the next six years.”
