NEDA renews commitment to boost PPPs

National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan on Tuesday reiterated the Marcos administration’s commitment to boost public-private partnerships (PPP) projects.

“The government will create and promote an enabling policy and regulatory environment conducive to investment, innovation, and high-quality job creation. In line with this objective, we will continue to strengthen our public-private partnership or PPP framework and facilitate the efficient assessment of PPPs,” Balisacan said at the Post-State of the Nation Address (SONA) Philippine Economic Briefing in Pasay City.

Last year, the NEDA chief, who was then an incoming Cabinet official, said he is planning to “reinvigorate” PPP projects under the Marcos administration. 

In May, the government unveiled its 194  infrastructure flagship projects (IFPs)—which include those initiated under previous administrations— worth P8.2 trillion. 

The top three sources of funding for the infrastructure program are official development assistance, which has the biggest share at P4.51 trillion; followed by PPP at P2.5 trillion; and the national budget or the General Appropriations Act at P850.58 billion.

“To ensure that we remain on track to meet our goals and to recalibrate our strategies as necessary, we—NEDA, in coordination with other agencies—will monitor and evaluate the implementation of our development roadmaps,” Balisacan said.

“We will likewise monitor the progress of the government’s Infrastructure Flagship Projects (IFPs) and ensure that concerned agencies take appropriate steps to resolve implementation constraints and ramp up our country’s infrastructure drive,” he said.

The country’s chief economist also said the NEDA, the state’s socioeconomic planning agency, is reaffirming its commitment to sustain the country’s high growth momentum, improving labor market conditions, and ongoing downtrend of inflation.

Through a whole-of-government and whole-of-society approach, President Ferdinand “Bongbong” Marcos Jr.’s administration, in its first year in office, has made significant strides in leading the country to achieve a robust post-pandemic economic recovery with gross domestic product (GDP) growth averaging 7.6% in 2022 and 6.4% 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.

The NEDA chief said that the economic environment was supported by the issuance of the implementing rules and regulations (IRR) of the amended Public Service Act, the revised IRR of the Build-Operate-Transfer Law, and the amended Joint Venture Guidelines of NEDA.

Balisacan said the government is working to create and promote an enabling policy and regulatory environment that shall be conducive to investment, innovation, and the creation of high-quality jobs. 

The NEDA chief also noted the importance of the Philippine Development Plan (PDP) 2023-2028 in aligning all government efforts to achieve the country’s overall goals: reinvigorating job creation and accelerating poverty reduction.

The PDP 2023-2028 is the country’s medium-term development blueprint, outlining the government’s priorities and strategies towards achieving high 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,” Balisacan said. — RSJ, GMA Integrated News