State Dining Room, Malacañan Palace
January 26, 2024
President Ferdinand R. Marcos Jr. presided over the 13th National Economic and Development Authority (NEDA) Board Meeting at the State Dining Room in Malacañan Palace.
NEDA Secretary Arsenio Balisacan presented the Philippine Development Report (PDR) 2023: ‘Reflecting Progress, Identifying Lessons,’ where he discussed the country’s growth and outlined the target goals for socio-economic transformation in the coming years.
These targets focus on reducing poverty rate, improving Gross Domestic Product (GDP) and salary rates, among others. He also highlighted that food inflation remains a challenge, having increased from the 6.1 percent baseline in 2022 to 8.0 percent in the latest rate for the 2023 fiscal year.
During the meeting, the President said that changes have started to take effect in combating poverty and some other problems. He emphasized that the Administration should focus more on strengthening the agricultural sector to control supply and demand, and improve the overall labor market, which will help decrease the food inflation rate.
The meeting also discussed the Laguindingan International Airport Public-Private Partnership (PPP) Project, wherein the NEDA Board approved the proposed negotiated parameters, terms and conditions (PTCs) for the upgrade, expansion, operations and maintenance of the Laguindingan Airport.
Meanwhile, the Department of Transportation (DOTr) and the Civil Aviation Authority of the Philippines (CAAP) presented the Investment Coordination Committee (ICC) appraised estimated project cost of PhP12.75 billion for the proposed modification of the Laguindingan Airport. This modification is expected to realize the goal of making the Laguindingan Airport a gateway to Northern Mindanao, accelerating its post-pandemic recovery and promoting economic development and tourism.
The Chief Executive emphasized that the proposed project must be self-sustaining and does not solely rely on revenue sharing. He also urged the committee to make sure that the project adheres to the National Building Code (NBC) to ensure safety and structural integrity, thus reducing the risk of costly repairs or accidents in the future.
Furthermore, Department of Trade and Industry (DTI) Secretary Alfredo Pascual discussed the request for an extension of the implementation period and change in scope of the Rural Agro-enterprise Partnerships for Inclusive Development and Growth (RAPID Growth) Project. He also provided the justification for the said request, which the President approved, and requested that the change in scope be further examined.
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