MANILA -- The National Economic and Development Authority (NEDA) spelled out its plans for the second year of the Marcos administration, as the country prepares to catch up with its Asian neighbors on economic development.

“We have so many work to do as I keep on saying. We have been left behind so much, we need to grow faster than what they have been doing for the last so many decades. And that means that we have a lot of work to do,” Socioeconomic planning Secretary Arsenio Balisacan told reporters when asked about NEDA’s plans.

According to Balisacan, NEDA, for example, will make sure that the high-priority projects are going to be implemented on time and completed on time.

NEDA is closely monitoring those projects and reporting regularly to the Cabinet and the President in order for the government to address any issues that are hampering the completion of those projects, he said.

NEDA is also on the lookout for possible other projects, according to Balisacan.

“The 194 (newly-approved projects) is just the beginning. We are developing and assessing many other projects that will support our economic development,” he explained.

“Of course, many of these projects, and subsequent projects will not necessarily be completed during the time of the President, but as a long-term strategy, NEDA, being the long-term planning body of the government, has to prepare, not only for this administration, but for the succeeding administration.”

NEDA is also looking at possible reforms and regulatory measures that have to be improved to get the momentum going. A lot of those reforms will be pushed through the Legislative Executive Development Advisory Council (LEDAC).

“NEDA is the Secretariat to the LEDAC and we are the ones who do the screening and try to select for passage, priority passage, those projects that have a high impact particularly those that will influence the outcomes of our Philippine Development Plan and the Eight-Point Socio-Economic Agenda,” he said.

The NEDA Board, led by President Ferdinand R Marcos Jr., approved on Wednesday three more infrastructure projects aimed at improving connectivity in the regions.

These additional projects are aligned with the objectives and goals of the Philippine Development Plan 2023-2028 that will significantly improve the lives of Filipinos. | PND