Press Conference Statement of NEDA Secretary Arsenio M. Balisacan on the 6th NEDA Board Meeting
I am pleased to announce that this afternoon, the NEDA Board, chaired by President Ferdinand R. Marcos, Jr., convened and approved crucial projects and guidelines that will support the attainment of our development goals as outlined in the Philippine Development Plan 2023-2028.
First, the NEDA Board has approved the Tarlac-Pangasinan-La Union Expressway or TPLEX Extension Project. In accordance with the Investment Coordination Committee guidelines, this is the fastest unsolicited proposal approval, from its submission on March 17, 2023 to the approval today, June 2, 2023. This 59.4-kilometer, 4-lane extension highway will connect the Ilocos Region, Central Luzon, and Metro Manila. This is expected to stimulate economic activity, alleviate road congestion, provide better and safer road access, and promote the development of new growth centers in nearby regions.
The TPLEX Extension Project will be implemented through a public-private partnership or PPP under the Department of Public Works and Highways. The estimated cost of the project is PHP23.4 billion.
Second, the NEDA Board has confirmed the “Investment Coordination Committee or ICC Guidelines for LGU PPP Projects,” which outlines the guidelines and procedures for processing PPP proposals of local government units or LGUs that require ICC action under the Philippine BOT law.
The guidelines outline the role of the Regional Development Councils and other local development councils, particularly in ensuring that LGU projects are in line with national development plans.
Recognizing the vital role of LGUs in driving economic growth, the guidelines provide a streamlined process for LGUs to pursue PPP projects that require the action by the ICC. This initiative aims to empower LGUs and enable them to effectively engage in PPPs that will promote local development and attract investments.
Third, the NEDA Board has noted its earlier confirmation ad referendum of the ICC approval of the Department of Agriculture’s Philippine Rural Development Project Scale-Up or PRDP Scale-Up.
This PRDP Scale-Up, estimated to cost PHP45.01 billion, aims to build on the successes of the original PRDP. Its goal is to further enhance agricultural productivity, increase income opportunities, and improve the living conditions of rural communities throughout the country.
Through this project, the government aims to empower farmers and fisherfolk, strengthen value chains, and promote inclusive and sustainable agricultural growth by institutionalizing new environmental and social safeguards frameworks and protocols.
Furthermore, during the meeting, the NEDA Board reviewed the first progress report on the Infrastructure Flagship Projects or IFPs under the Marcos Administration’s Build-Better-More Program.
Out of the 194 IFPs, 68 are currently ongoing, 25 have been approved for implementation, 9 are awaiting government approval, and the remaining projects are either in the process of project preparation or pre-project preparation.
To recall, these high-impact infrastructure projects are designed to address the nation’s infrastructure deficit, thereby, driving sustainable economic growth across priority sectors of our economy. In total, the IFPs have an estimated cost of PHP8.3 trillion.
The Marcos Administration remains steadfast in its dedication to pursuing projects that are in line with its 8-Point Socioeconomic Agenda and the strategies identified in the Philippine Development Plan 2023-2028. We are committed to implementing initiatives that will promote inclusive growth, induce high-quality job creation, and greatly improve living standards for all Filipinos.
Thank you.
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