AT A GLANCE
- National Economic and Development Authority (NEDA) Secretary Arsenio M. Balisacan said they will monitor infrastructure flagship projects’ (IFPs) progress and ensure agencies address implementation constraints.
- Balisacan emphasizes the importance of ensuring that the Marcos administration stays on course to achieve its goals and making adjustments to strategies if needed.
- The NEDA chief also says the government will establish and encourage a favorable policy and regulatory framework that facilitates investment, innovation, and the generation of high-quality employment opportunities.
The National Economic and Development Authority (NEDA) has committed to closely monitor the prompt execution of infrastructure projects carried out by government agencies.
At the Post-SONA Philippine Economic Briefing, NEDA Secretary Arsenio M. Balisacan said they will monitor infrastructure flagship projects’ (IFPs) progress and ensure agencies address implementation constraints.
Balisacan emphasized the importance of ensuring that the Marcos administration stays on course to achieve its goals and making adjustments to strategies if needed.
“They will monitor the progress of the IFPs and ensure that concerned agencies take appropriate steps to resolve implementation constraints and ramp up our country’s infrastructure drive,” Balisacan said.
The NEDA chief also said the government will establish and encourage a favorable policy and regulatory framework that facilitates investment, innovation, and the generation of high-quality employment opportunities.
Aligned with this objective, Balisacan said the NEDA will continue to bolster the public-private partnership (PPP) framework and facilitate the efficient evaluation of these projects.
Additionally, he stated, “We will also enable a dynamic innovation ecosystem through the policy and advocacy initiatives of the National Innovation Council.”
At the event, Balisacan reiterated NEDA’s dedication to maintaining the nation’s strong growth momentum, enhancing labor market conditions, and continuing the downward trend of inflation.
Under the Marcos administration’s first year, the country experienced a resilient economic rebound following the pandemic, with an average gross domestic product (GDP) growth of 7.6 percent in 2022 and 6.4 percent in the first quarter of 2023.
“To improve our economy’s competitiveness and signal our country’s openness to business, the government worked to create an investment-friendly policy environment,” Balisacan said.
He further said this favorable environment was bolstered by the issuance of the implementing rules and regulations (IRR) for the amended Public Service Act, the revised IRR for the Build-Operate-Transfer Law, and the amended Joint Venture Guidelines of NEDA.
Balisacan also emphasized the significance of the Philippine Development Plan (PDP) 2023-2028 in harmonizing all government endeavors to accomplish the nation’s overarching objectives: revitalizing job creation and expediting poverty reduction.
The PDP 2023-2028 serves as the country’s medium-term development roadmap, outlining the government’s priorities and strategies for achieving robust and inclusive growth.
“Through these initiatives, the Marcos Administration will bring our economy closer to one that is prosperous, inclusive, and resilient—aligned with our long-term vision of providing a firmly rooted, comfortable, and secure life for all Filipinos,” he said.
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The article was originally published in Manila Bulletin and written by Chino S. Leyco.
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