June 8, 2023

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NEDA sets investment target of P20 trillion for priority programs

2 min read

THE NATIONAL Economic and Development Authority (NEDA) is targeting to get about P20 trillion in investments for its Public Investment Program (PIP).

“The PIP has 5,329 priority programs and projects with a total investment target of P20.218 trillion for the plan period from 2023 to 2028,” the NEDA said in a document uploaded on its website.

The PIP is aligned with the Philippine Development Plan (PDP) and contains the medium-term priority projects to be implemented by National Government agencies, government-owned and -controlled corporations, other National Government offices, and state universities and colleges (SUCs).

Under the Public Investment Program, the bulk or 85.75% of the investment target will go to infrastructure projects, for a total of 3,770 priority projects worth P17.34 trillion.

“As the Philippine Development Plan 2023-2028 has identified infrastructure as critical to the economic transformation of the country, and consistent with the current administration’s recognition of infrastructure as the ‘backbone of an economy,’ infrastructure has the largest share of investments over the medium term for projects related to transportation, water resources, energy, information and communications technology, and social and other public infrastructure,” the NEDA said.

This year, the government plans to spend 5.3% of the gross domestic product on infrastructure, equivalent to P1.29 trillion.

After infrastructure, agriculture and agribusiness were allotted 391 priority projects worth P806 billion and education with 62 priority PAPs worth P701.05 billion.

By agency, the Department of Public Works and Highways (DPWH) took more than half or 58.56% of the investment share target, equivalent to P11.48 trillion.

It was followed by the Department of Transportation (15.79% or P3.1 trillion), Department of Education (10.46% or P2.05 trillion) and Department of Agriculture (8.15% or P1.6 trillion).

“Infrastructure facilities and services remain…

BusinessWorld

2023-05-04 12:32:31

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