THE Marcos administration has indicated that it is ready to roll out the recently adopted Philippine Development Plan for 2023-2028, which aims to spur economic growth and put the country in the list of developing nations.
This is evidenced by the early approval by the National Economic and Development Authority (NEDA) Board last week of some 194 high-impact priority projects worth P9 trillion under the new Infrastructure Flagship Projects (IFPs) as well as amendments to the 2013 Joint Venture (JV) Guidelines to improve the public-private partnership coordination.
Apart from being aligned with the priorities under the eight-point Socioeconomic Agenda of the Marcos administration, the IFPs were described by Arsenio Balisacan, socioeconomic planning secretary, as “game-changing initiatives” that are “expected to raise investments and transform the Philippine economic landscape.”
‘The key therefore is to convince the private sector that these big-ticket projects are economically viable, meaning their investments will have adequate returns.’
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 Trans-basin Project, and the Metro Cebu Expressway.
One can glean from the list of approved projects that the government is focused on improving the transportation sector of the country. Long-delayed plans involving railways, road networks, ports and airports will soon see the light of day.
This batch of flagship projects also involves physical and digital connectivity, water resources such as irrigation, water supply and flood management, and other infrastructures in health, power and energy, and agriculture.
Planning and pencil-pushing of project costs and expected benefits are one thing, yet proper implementation is another. As announced, these projects will need the funds and technical expertise of private investors along with the deployment of public funds, as the government does not have enough money to finance all these projects.
The key therefore is to convince the private sector that these big-ticket projects are economically viable, meaning their investments will have adequate returns. Proof beyond mere plans on paper will have to be provided along with the high hopes.
The NEDA board, headed by President Ferdinand Marcos Jr., is loose with rhetoric such as these words by Balisacan: “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.”
This is well said in print and broadcast media, but delays and cancellations of projects in the past should not be repeated, and NEDA, as the lead agency approving and monitoring these projects, will have to make good on its promise and not be content with just rhetorical assurances.
