NEW CLARK CITY – The National Economic and Development Authority (NEDA) emphasized the pivotal role of infrastructure development in sustaining the Philippines’ economic growth and fostering inclusion. By attracting massive investments, the country can unlock more venture opportunities offering higher-quality employment, thereby fostering a robust and resilient economy.
At the ‘Build-Better-More’ Infrastructure Forum on Friday, July 12, NEDA Secretary Arsenio M. Balisacan highlighted the Marcos administration’s commitment to creating an environment conducive to infrastructure development. This commitment is reflected in the Philippine Development Plan 2023-2028, which outlines the country’s socioeconomic transformation agenda.
“By expanding and upgrading our infrastructure, we aim to create enabling conditions for high-quality job creation for millions of Filipinos, raise the competitiveness of our local industries, diversify our growth drivers to strengthen economic resilience, and enhance regional connectivity by linking our leading and lagging regions,” said Balisacan.
The PDP aims to address the challenges plaguing the country’s infrastructure sector, which many observers and analysts perceive as a significant barrier to investment opportunities.
“The Marcos Administration was quick to act, and I believe we have made a strong start these past two years. The government enacted and implemented key policy reforms and initiatives to create a more enabling policy and regulatory environment for investment and economic growth,” Balisacan emphasized.
Critical to achieving the 5- to 6-percent annual target infrastructure spending to GDP is the continued evaluation, approval, and rollout of the 185 Infrastructure Flagship Projects (IFPs) under the Build-Better-More Program. These game-changing, urgently needed, and big-ticket projects spanning various sectors are collectively valued at PHP 9.54 trillion, or approximately US$163 billion.
Three (3) projects have already been completed, including the Samar Pacific Coastal Road Project, Integrated Disaster Risk Reduction and Climate Change Adaptation Measures in the Low-Lying Areas of Pampanga Bay Project, and the Flood Risk Improvement and Management Project for Cagayan de Oro River.
Additionally, 63 other projects are currently underway, including the Pasig-Marikina River Channel Improvement Project, Central Luzon Link Expressway, and the Panguil Bay Bridge. Thirty-one more have been approved for implementation, six are awaiting government approval, and 82 are in the preparation stage.
Balisacan also underscored the government’s enactment or issuance of several critical policies in the past two years to create a more responsive and enabling environment for infrastructure development.
These include the amended Implementing Rules and Regulations (IRRs) of the Renewable Energy Act and the amended Public Service Act, which allow for greater participation of foreign investors in the provision of critical infrastructure.
In addition, the landmark Public-Private Partnership (PPP) Code was passed. The law strengthens the private sector’s role in financing, operating, and maintaining viable infrastructure projects. On the other hand, the ratification of the Regional Comprehensive Economic Partnership (RCEP) further opens our economy to markets to boost trade and investments.
Balisacan said, “PPPs shall remain one of our key drivers for sustaining spending on physical and social infrastructure. Promisingly, the number of pipeline projects has grown over these past few months. As of early July, we have 205 PPP projects, including those in local government units, under implementation and 143 projects in the pipeline… We are also encouraged to note that more and more social infrastructure projects in health, water and sanitation, as well as solid waste management, are in the pipeline.”
In April 2024, the President signed Executive Order No. 59 to expedite the implementation of the IFPs by streamlining the processing of IFP permits. This move aims to eliminate unnecessary delays in issuing licenses, clearances, or permits needed to approve and implement the IFPs at the national and local levels.
Related: EO 59 TO BOOST PH INFRA DRIVE—NEDA
Balisacan also highlighted the government priority legislative measures that are targeted to be passed before the end of the 19th Congress in June 2025. These reforms aim to address, primarily, the constraints that impede the transformation of the economy’s production sectors and which will pave the path for stronger infrastructure development.
Related: LEDAC APPROVES 28 PRIORITY BILLS FOR PASSAGE WITHIN 19TH CONGRESS
NEDA, through its monitoring and evaluation function, has been at the forefront of coordinating with implementing agencies to address the challenges they face in accelerating project implementation. Secretary Balisacan cited NEDA’s recommendations to streamline, enhance, and optimize processes; speed up right-of-way acquisition; capacitate project implementation teams; leverage tools and technology for procurement; and incentivize accountability in project implementation.
“With our economy ready to take off, we are now ensuring that we sustain the momentum by further adjusting our policy frameworks and pushing hard to deliver on our promises. Under a Bagong Pilipinas, we assure the Filipino people that we are working relentlessly to realize our country’s immense potential,” Balisacan concluded.
The Build-Better-More Infrastructure Forum, a three-day event on the government’s infrastructure program, was organized by the Presidential Communications Office. This forum served as a platform for discussing the country’s infrastructure development plans and strategies, highlighting the government’s commitment to fostering economic growth and resilience through infrastructure development.
-END-
