NEDA approves seven projects worth P270b, steps to avail of China support
The National Economic and Development Authority (NEDA), chaired by President Rodrigo Duterte, has approved seven projects worth P270 billion to be implemented under the current administration, the government’s chief economist said on Tuesday.
The approved projects include Scaling-Up of the Second Cordillera Highlands Agricultural Resources Management Project and Expansion of the Philippine Rural Development Project, both of the Department of Agriculture; and Improvement/ Widening of General Luis Road in Quezon City to Valenzuela City Project of the Department of Public Works and Highways, said Socioeconomic Planning Secretary Ernesto Pernia, also NEDA director general.
Also given the green light were the New Cebu International Port of the Department of Transportation; North-South Railway Project (NSRP)-South Line; Malitubog-Maridagao Irrigation Project, Stage 2 of the National Irrigation Administration; and New Nayong Pilipino at Entertainment City of the Department of Tourism.
Pernia said the NEDA Board also approved the Investment Coordinating Committee guidelines on processing China-assisted projects.
Presidential Spokesperson Ernesto Abella said for the first four and a half months of the Duterte administration, about P500-billion worth of huge projects were approved.
In the September NEDA Board meeting, nine projects were okayed.
According to the Department of Finance, guidelines for the availment of Chinese support for the conduct of pre-investments and investment activities were designed for better coordination between the Philippines and China.
"The Guidelines will allow for smoother coordination between the Philippine and Chinese governments to facilitate the efficient utilization of Chinese development assistance and immediate implementation of mutually agreed upon projects for the satisfaction of Chinese taxpayers and the benefit of the Filipino people," Finance Secretary Carlos Dominguez III.
Incoming Philippine Ambassador to China Chito Sta. Romana earlier said that the Duterte administration would make sure that it would not repeat the mistakes committed during the Arroyo government that some Chinese-funded projects were cancelled due to alleged irregularities.
These include the North Rail project and the national broadband network contract with Chinese telecommunication firm ZTE.
The DOF said the Guidelines aim to improve, streamline, and enhance transparency and coordination in the availment of national government agencies, government owned- and controlled corporations, government financial institutions, and local government units of Chinese support for the conduct of feasibility studies and implementation of projects subject to ICC review and approval. Celerina Monte/ DMS
