NextGen Day

The National Economic and Development Authority (NEDA) Board has authorized six additional important projects, including the plan to raise funds for the renovation of Metro Rail Transit Line 3, according to Socioeconomic Planning Secretary Arsenio Balisacan on Friday (MRT-3).

This came after the seven projects received the approval of the NEDA Board, which was presided over by President Ferdinand R. Marcos Jr.

The first public-private partnership (PPP) project to be approved by the NEDA Board was the proposed PHP6 billion development of a cancer center at the University of the Philippines (UP)-Philippine General Hospital (PGH) in Manila, according to a statement released by Malacaang on Thursday.

In addition to the UP-PGH cancer center project, Balisacan said in a Palace press briefing on Friday that the planned PHP7.6 billion PHP21.9 billion PHP29.6 billion cost increase for the MRT-3 Rehabilitation Project also received the NEDA Board’s approval.

According to Balisacan, the NEDA Board granted the DOTr’s requests for the MRT-3 rehabilitation project’s adjustments in scope, project cost increase, implementation period extension, additional loan, and loan reallocation.

“This project comprises restoring MRT-3 to the way it was originally intended, while also making provisions for potential capacity growth in the future. All subsystems, including the rails, the signaling system, the power supply system, the overhead catenary system, and the communication system, will be repaired, updated, or upgraded “said he.

“Integration of further MRT-3-related projects, including the shared station, the Dalian trains, and the switch to a four-car train design, will also be part of the project. With the help of this repair project, the MRT-3’s safety and level of service will be improved, and its use will be encouraged to help with Metro Manila’s rising traffic congestion “Added he.

airport initiatives

According to Balisacan, the NEDA Board also approved using the remaining PHP2.12 billion loan from the Japan International Cooperation Agency (JICA) for the Communications, Navigation, and Surveillance for Air Traffic Management (CNS/ATM).

The Department of Transportation’s PHP17 billion New Dumaguete Airport Development Project, PHP13 billion of which will be funded by Official Development Assistance (ODA) from the Korean government, was also approved by the Investment Coordination Committee, according to Balisacan, who also spoke on behalf of the NEDA Board.

“A new airport facility at Bacong, Negros Oriental, will be built as part of this project, and it will be built to national and international standards for operational safety and efficiency. Due to the physical and operational limitations of the current Dumaguete-Sibulan Airport, this project will replace it “In addition, the project will be completed in seven years, according to Balisacan.

According to him, the new Dumaguete airport will raise the province’s potential for tourism, trade, economic activity, and level of living.

Development of agriculture in Mindanao

According to Balisacan, the NEDA also approved the Department of Agriculture’s (DA) PHP6.6 billion Mindanao Inclusive Agriculture Development Project (MIADP), which aims to improve organized farmer and fisherfolk groups’ access to markets and services while also increasing agricultural productivity and resilience.

He stated that of the expected overall cost of the MIADP, approximately PHP5.3 billion will be funded through ODA from the World Bank, with the rest of PHP863.461 million being borne by the DA and local government entities (LGUs).

According to him, the MIADP includes specific ancestral areas in Muslim Mindanao’s Zamboanga Peninsula, Northern Mindanao, Davao Region, Soccsksargen, Caraga, and Bangsamoro Autonomous Region (BARMM).

“The project will play a crucial role in lowering indigenous peoples’ levels of unemployment, poverty, and food insecurity. It will boost local government units (LGUs) capacity to conduct assistance programs that address weak market links and inadequate infrastructure in geographically distant ancestral domains, improving the economic standing of the indigenous people in Mindanao “said he.

Flood adaptation and resilience

According to Balisacan, the Department of Public Works and Highways (DPWH) initial phase of the Integrated Flood Resilience and Adaptation Project also received permission from the NEDA Board.

He said that the project’s goals are to lessen flood damage, lower flood risk, and boost climate resilience across the nation’s three main river basins, including Mindanao’s Abra, Ranao, and Tagum Libuganon.

The project will be funded by an ODA loan from the Asian Development Bank, with a projected cost of PHP20 billion.

Public transit in Davao

According to Balisacan, the NEDA Board also granted the DOTR’s requests for the Davao Public Transport Modernization Project’s adjustments in scope, an increase in cost, and an extension of the implementation term.

According to him, the project entails providing Davao City with a “modern, high priority” bus system, where interconnected bus services will be given priority along 29 routes.

According to Balisacan, the project’s implementation term has been prolonged from 2023 to 2029.

The approval of the “high-impact” projects, according to Balisacan, will be a key component in achieving the goals of the Marcos administration’s economic development program.

In the medium term, he stated, “These projects are projected to greatly assist to attaining our social and economic transformation agenda.”

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