NEDA Board approves TPLEX Extension Project
The National Economic and Development Authority (NEDA) Board headed by President Ferdinand Marcos Jr. has approved the Tarlac-Pangasinan-La Union Expressway (TPLEX) Extension Project in a meeting in the Palace on Friday.
NEDA Secretary Arsenio Balisacan noted that "in accordance with the Investment Coordination Committee guidelines, the TPLEX Extension Project has "the fastest unsolicited proposal approval, from its submission on March 17, 2023 to the approval today, June 2, 2023."
"This 59.4-kilometer, 4-lane extension highway will connect the Ilocos Region, Central Luzon, and Metro Manila. This is expected to stimulate economic activity, alleviate road congestion, provide better and safer road access, and promote the development of new growth centers in nearby regions," he said.
The TPLEX Extension Project will be implemented through a public-private partnership or PPP under the Department of Public Works and Highways. The estimated cost of the project is P23.4 billion, said Balisacan.
Balisacan said the government is planning to complete the project within the term of the administration.
"We are closely monitoring the implementation of these projects so that we don’t experience the kind of delays that beset many of our projects in the past," he said.
Balisacan said the NEDA Board also confirmed the “Investment Coordination Committee or ICC Guidelines for LGU PPP Projects,” which outlines the guidelines and procedures for processing PPP proposals of local government units or LGUs that require ICC action under the Philippine BOT law.
"The guidelines outline the role of the Regional Development Councils and other local development councils, particularly in ensuring that LGU projects are in line with national development plans," he said.
"Recognizing the vital role of LGUs in driving economic growth, the guidelines provide a streamlined process for LGUs to pursue PPP projects that require the action by the ICC. This initiative aims to empower LGUs and enable them to effectively engage in PPPs that will promote local development and attract investments," he added.
Balisacan said the "NEDA Board has noted its earlier confirmation ad referendum of the ICC approval of the Department of Agriculture’s Philippine Rural Development Project Scale-Up or PRDP Scale-Up."
He said the PRDP Scale-Up, with an estimated cost of P45.01 billion, "aims to build on the successes of the original PRDP."
"Its goal is to further enhance agricultural productivity, increase income opportunities, and improve the living conditions of rural communities throughout the country," said Balisacan.
"Through this project, the government aims to empower farmers and fisherfolk, strengthen value chains, and promote inclusive and sustainable agricultural growth by institutionalizing new environmental and social safeguards frameworks and protocols," he added.
During the meeting, Balisacan said "the NEDA Board reviewed the first progress report on the Infrastructure Flagship Projects or IFPs under the Marcos Administration’s Build-Better-More Program."
"Out of the 194 IFPs, 68 are currently ongoing, 25 have been approved for implementation, 9 are awaiting government approval, and the remaining projects are either in the process of project preparation or pre-project preparation," he said.
"To recall, these high-impact infrastructure projects are designed to address the nation’s infrastructure deficit, thereby driving sustainable economic growth across priority sectors of our economy. In total, the IFPs have an estimated cost of P8.3 trillion," he added.
Balisacan also noted that some of the nine projects that are still waiting for government approval are expected to be approved before the State of the Nation Address of the President this month.
"Some of this, yes, because we’ll have one more NEDA Board meeting before the SONA, so we’ll see how our different agencies can complete their work, particularly the vetting and assessment of the projects," he said. Robina Asido/DMS
