New list of infrastructure, longer list of deliverables
The National Economic and Development Authority (NEDA) Board, an inter-agency committee chaired by President Ferdinand Marcos, Jr., approved on May 16, 2024, a total of P33.3 billion for new infrastructure projects. The approval is in line with the objective of expanding and upgrading the country’s infrastructure as contained in the 2023-2028 Medium-Term Philippine Development Plan (MTPDP), thus enabling the environment to achieve economic and social transformation. But this new list could simply lengthen the list of deliverables.
We recall that in 2023, of the 13 projects aimed at establishing physical connectivity, water resources, digital connectivity and health, NEDA reported as of end-November 2023 that only one was completed in 2023 in the Visayas. All the other 12 are expected to be completed in 2024, with multiplier effects in terms of better mobility of goods and services, disaster reduction, secure water resources, better public health and digital connectivity. With the new projects, and many others still to be completed, the list of flagship projects continues to lengthen; the likelihood of everything being completed becomes uncertain. Sound infrastructure is one big challenge to the Philippines’ bid for high and sustainable economic growth. Unless the issue of infrastructure is decisively and quickly addressed, it may instead drag the momentum of growth down.
Now read on...
Register to sample a report