MANILA, Philippines - The Investment Coordination Committee (ICC) of the National Economic and Development Authority (NEDA) has lined up for approval 55 flagship projects worth more than P1.2 trillion for implementation and completion within President Duterte’s term.
The list of “game-changing” projects was cleared during the NEDA ICC-Cabinet Committee (Cabcom) meeting late Tuesday and would be presented for approval during the next NEDA board meeting next month.
Out of the 55 projects to be prioritized, around 23 projects are worth P1.2 trillion while the cost of the other projects has yet to be determined upon completion of feasibility studies.
NEDA officials said most of the projects are connective infrastructure that will spur growth and development in the countryside.
Among the flagship projects is Clark Green City, an industrial hub being developed by the Bases Conversion and Development Authority (BCDA), as well as the railway connecting Manila to the development.
“These are catalytic projects. These will encourage other developments,” said Socioeconomic Planning Secretary Ernesto Pernia.
Other projects include the 15 big-ticket projects earlier proposed for Chinese financing, three of which would be prioritized for loan acquisition: the $53.6-million Chico River Pump Irrigation Project in Cagayan and Kalinga provinces, the $374-million New Centennial Water Source-Kaliwa Dam Project in Quezon province and the South Line of the North-South Railway Project (NSRP).
The 55 flagship projects entail various forms of financing such as official development assistance, loans from multilateral development banks, general appropriations and public-private partnership.
“These are projects that we are committed to complete or at least ground break during this administration to meet our infrastructure targets,” said NEDA director for public investment Jonathan Uy.
He said NEDA would continue the projects lined up Public Investment Program (PIP) such as farm-to-market roads. With the proposal of the flagship projects, however, priority will be given to infrastructure that will connect the archipelago.
“We are looking at outside of Metro Manila,” said Uy.
The Duterte administration aims to spend around P8 trillion for infrastructure projects in the next six years.
Pernia said the approval of the 55 flagship project may drive spending to as much as P9 trillion.