Statement on the 13th NEDA Board Meeting
Arsenio M. Balisacan, PhD
Secretary
National Economic and Development Authority
Malacañang Press Conference
26 January 2024
Malacañang Press Briefer Daphne Oseña-Paez,
Members of the Malacañang Press Corps,
Ladies and gentlemen, good morning.
We begin 2024 with significant momentum, having secured approval for projects that form part of our journey toward achieving social and economic transformation and reporting on our progress in implementing the Philippine Development Plan 2023-2028. I am pleased to provide the following updates from the 13th NEDA Board meeting.
Upgrade, Expansion, Operations, and Maintenance of the Laguindingan International Airport
First, the NEDA Board approved the negotiated parameters, terms, and conditions (PTCs) of the Upgrade, Expansion, Operations, and Maintenance of the Laguindingan International Airport Project in Northern Mindanao. These PTCs were negotiated between the government, represented by the Department of Transportation and the Civil Aviation Authority of the Philippines, and the Original Proponent of the unsolicited public-private partnership (PPP) project.
Approved in July 2023, the project supports the government’s efforts to enhance regional development and promote tourism in Northern Mindanao and its neighboring regions.
Following the approval of the modified PTCs, this 12.75-billion pesos project will now undergo the comparative challenge process following the rules under the newly enacted PPP Code. Prospective challengers will be given 90 days from the publication of the invitation for comparative proposals to submit their proposals. The Original Proponent will be given 30 calendar days to match responsive comparative proposals. If no comparative proposals are received, the project shall be awarded to the Original Proponent by May 2024.
Rural Agro-enterprise Partnership for Inclusive Development and Growth (RAPID Growth) – Request for Extension of Implementation Period and Change in Scope
Second, the NEDA Board approved the request to change the timeline and scope of the Department of Trade and Industry’s Rural Agro-enterprise Partnership for Inclusive Development and Growth or RAPID Growth Project.
The RAPID Growth Project amounting to 4.78 billion pesos aims to support 78,000 farming households by expanding both on-farm and off-farm activities and generating employment opportunities in rural areas. The project seeks to support the growth and development of micro, small, and medium enterprises or MSMEs with strong backward linkages to farmers, and to provide them access to the needed capital to sustain their businesses. It will also create business partnerships between MSMEs and farmers to ensure a steady source of high-quality raw materials for the production needs of agro-enterprises.
Presentation of the Philippine Development Report 2023
Finally, the Philippine Development Report, or PDR 2023, was presented to the President and members of the Cabinet.
A year ago, the Philippine Development Plan (PDP) 2023-2028, the country’s medium-term development roadmap, was launched. In line with Executive Order No. 14, s. 2023, the National Economic and Development Authority (NEDA) monitored the Plan’s implementation, with inputs from various government agencies. A year after the launch, we produced the Philippine Development Report.
The PDR contains updates on the major programs, projects, and policies implemented in 2023. As an evidence-based report, the PDR evaluates our country’s performance based on the outcome indicators identified in the PDP and tracks the progress of bills under the Marcos Administration’s legislative agenda. At the same time, the PDR is a forward-looking document that considers and anticipates both internal and external developments and scenarios. It identifies the lessons we have learned; these translate into urgent priorities and plans of action to ensure we remain on track to meet our goals by 2028. The PDR 2023 will be released to the public by the end of this month.
In summary, the Philippine economy generally performed well in 2023, though we recognize the magnitude of the challenges we faced and which continue to persist. Our experience in the past year has led us to acknowledge the importance of reinforcing further our fiscal position to sustain rapid and inclusive growth in the coming years, expanding the country’s economic pie by attracting more job-generating investments, ensuring food security to temper inflation and keep prices affordable; urgently addressing growth fundamentals and improving access to quality education so that our children are not left behind; building sustainable communities through game-changing infrastructure projects; and ensuring a responsive and accessible government through widespread digitalization.
For 2024, we aim to achieve a full-year GDP growth rate of 6.5 to 7.5 percent to generate economic opportunities, increase employment, raise per capita incomes, and elevate our economy to “upper-middle-income-country” status by 2025. This growth will be supported by low and manageable inflation, a labor force with access to more and better jobs, a stronger fiscal position in the form of a lower deficit and debt as a share of gross domestic product, and an increasingly dynamic, innovative, and competitive economy.
Conclusion
The Marcos Administration remains steadfast in carrying out its transformation agenda as we expedite the approval of game-changing projects and ensure that all of the government’s programs and policies support our unified pursuit of a Bagong Pilipinas.
Thank you.
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