Marcos revamps flagship infra list
The Marcos administration added 23 new items to its list of infrastructure flagship projects (IFPs) while removing 36 projects following a “rationalization” meant to ensure faster implementation of priority undertakings.
The update brought the total number of IFPs to 185 from 198 previously, with a new total value of P9.14 trillion, according to a statement released on Tuesday following a meeting of the National Economic and Development Authority (Neda) board, which is chaired by President Marcos.
But Neda clarified that certain projects deleted from the list “will still proceed as planned” as they were already part of the regular government programs.
“By rationalizing the list, we ensure the implementation of as many important infrastructure projects of high significance as possible,” Neda Secretary Arsenio Balisacan said.
Spending surge
The Marcos administration is hoping to supercharge infrastructure spending to 5 to 6 percent of gross domestic product. Past administrations had tried to bridge the Philippines’ wide infrastructure gap in a bid to attract more investments, especially in the countryside.
Based on the old list of IFPs, 74 projects were ongoing as of fourth quarter of 2023, while 10 were awaiting government approval. Meanwhile, 30 had been approved for implementation and 83 were undergoing either project or pre-project preparation.
Among the 74 ongoing projects, 19 are scheduled to be completed this year.
Davao project
Apart from revising the list of IFPs, the Neda board on Tuesday also approved changes in the scope of the Davao City Bypass Construction Project, which increased the needed financing to P70.8 billion after the pandemic hampered the project’s implementation.
The Board likewise confirmed the Integrated Water Resources Master Plan that will serve as the comprehensive national policy for managing water resources in the country.
“We will closely monitor our infrastructure flagship projects to ensure they are completed and delivered on time,” Balisacan said.
