QUEZON CITY (PIA) -- Projected to further strengthen the “Build Better More” program of the government, the National Economic and Development Authority (NEDA) Board which is chaired by President Ferdinand R. Marcos Jr. has approved 194 high-impact priority projects under the Infrastructure Flagship Projects (IFPs) and amendments to the 2013 Joint Venture (JV) Guidelines.
The approved new list of IFPs amounting to about P9 trillion include projects in irrigation, water supply and flood management. The list also includes projects in digital connectivity, health, power and energy, agriculture and other infrastructure.
Secretary Balisacan announced some of the new projects included in the new list are the Panay Railway Project, Mindanao Railway Project III, North Long Haul Railway, San Mateo Railway, the NAIA or Ninoy Aquino International Airport Rehabilitation Project, Ilocos Sur Transbasin Project, and the Metro Cebu Expressway.
These projects will adopt an optimal mix of financing from various development partners through Official development assistance (ODA), General Appropriations of the national government, and the Public-Private Partnerships.
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 Philippines to meet its poverty-reduction goals for the medium term.
Meanwhile, the NEDA also approved the proposed amendments to the 2013 NEDA Joint Venture Guidelines. These amendments aim to “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.”
“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.” Secretary Balisacan said.
These newly approved projects are in addition to the seven (7) initial priority projects previously announced by the administration. (ARB, PIA-CPSD)
