By Janine Dumaguin
The National Economic and Development Authority (NEDA) board on Thursday, March 9, approved 194 high-impact priority projects under the Infrastructure Flagship Projects (IFPs) and amendments to the 2013 Joint Venture (JV) Guidelines.
In a press briefing on Thursday, NEDA Secretary Arsenio Balicasan said the approval of new IFP list and amendments to the JV guidelines is a significant step to promote the Philippines as a leading investment destination in the region through “elevating competitiveness.”
“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,” Balicasan said.
The newly approved Infrastructure Flagship Projects (IFPs) covers infrastructure, agriculture, power and energy, health, and digital connection amounting to approximately P9 trillion.
“Aligned with the priorities under the 8-Point Socioeconomic Agenda of President Marcos’ Administration and the plans outlined in the Philippine Development Plan for 2023-2028, these high-impact and urgently-needed infrastructure projects aim to showcase the government’s Build, Better, More program,” Balisacan added.
Included in the list of IFPs are the Panay Railway Project, Mindanao Railway Project III, North Long Haul Railway, San Mateo Railway, UP-PGH Diliman Project, Ninoy Aquino International Airport (NAIA) Rehabilitation Project, Ilocos Sur Transbasin Project, and the Metro Cebu Expressway.
Balicasan said these projects will use an “optimal mix” of funding from different development partners, Official Development Assistance (ODA), General Appropriations, or private sector through Public-Private Partnerships (PPPs).
He added that the government shall harness the financial and technical resources of the private sector to allow 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.” – cf
