NEDA predicts over half of flagship projects will be finished by 2022

NEDA predicts over half of flagship projects will be finished by 2022

- in Philippines
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Workers of a Makati road project. Image from PhilStar.

The National Economic Development Authority has expressed its confidence that more than 50% of the Duterte administration’s flagship projects will be completed by the end of the President’s term by 2022, or within a few years of this.

According to NEDA Undersecretary for Investment Programming Jonathan L. Uy, a majority of the projects (44 out of 75) are currently in various stages of the implementation phase as of end-October. The project implementation phase includes budgeting or funding, detailed engineering and development (DED), procurement and/or construction.

“As of October 2018, there were only 24, so we have graduated 32 projects beyond development and [are now] under implementation, under budgeting, funding, DED, procurement and construction. From 19 in June 2017, we now have 44 projects undergoing implementation,” said Uy.

Socioeconomic Planning Secretary and NEDA Director General Ernesto M. Pernia further said that some of the administration’s flagship projects’ economic internal rate of return (EIRR) have passed the social discount rate of 10 percent. The EIRR indicates a project’s economic viability. According to Pernia, some key projects have an EIRR of from 12.2 to over 21 percent, making them viable socially.

Pernia, in his year-end briefing, said that by end-November thies year, at least 35 of the 75 flagship infrastructure projects have been approved by the NEDA Investment Coordination Committee (ICC) and confirmed by the NEDA Board. The total investment requirement of these projects amounts to P1.54 trillion.

A further 31 projects are awaiting the recommendation of the ICC for approval by the NEDA Board. These projects are expected to be completed by 2022.

The remaining 44 projects, according to Pernia, may be completed after President Duterte’s term ends, however implementation is expected to be achieved during the administration.

“The government is making definite progress in its massive infrastructure program, we all know as ‘Build, Build, Build.’ We are certain that the government’s efforts will pay off and we will see improvements in the state of the country’s infrastructure over the medium-term,” Pernia said.

 




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