Marcos Jr. administration approves 2 ‘crucial’ projects

MANILA, Philippines — The Marcos Jr. administration approved on Friday what an economic official called “crucial” projects that would support the government in hitting its development targets.

At its meeting, the National Economic and Development (NEDA) board — which is chaired by President Ferdinand Marcos Jr. — greenlighted the P23.4-billion TPLEX Extension project and the Investment Coordination Committee’s (ICC) guidelines for public-private projects of local government units.

NEDA Secretary Arsenio Balisacan said the projects would help the administration attain its goals, as outlined in the Philippine Development Plan 2023-2028.

The TPLEX Extension project is a 59.4-kilometer, 4 lane extension highway that, if completed, would connect the Ilocos Region, Central Luzon and Metro Manila. It is an unsolicited offer that would “stimulate economic activity, alleviate road congestion, provide better and safer road access,” Balisacan said.

Now that it has secured the NEDA board’s nod, the TPLEX Extension project would undergo a Swiss challenge, wherein rival bidders can challenge the project’s proponent, San Miguel Holdings Corp. In turn, San Miguel Holdings has the right to match the counter proposals.

The second project that NEDA board approved outlines the guidelines and procedures for processing PPP proposals of LGUs that require ICC action under the Philippine BOT law.

Balisacan explained that the guidelines “provide a streamlined process for LGUs to pursue PPP projects.”

As it is, the Marcos Jr. administration has unveiled an infrastructure program composed of 194 “flagship projects” cumulatively worth P8.3 trillion.

Balisacan said that, as of reporting, 68 out of the 194 flagship projects are “currently ongoing”, while 25 have been approved for implementation. Meanwhile, 9 projects are awaiting government approval and the rest are “either in the process of project preparation or pre-project preparation.”