President Marcos approved changes to two major projects.
The National Economic and Development Authority (NEDA) Board endorsed parameters for the Laguindingan International Airport upgrade and the modification of the RAPID Growth Project.
Negotiated parameters, terms, and conditions (PTCs) for the P12.7-billion Laguindingan airport project involved key stakeholders and aim to enhance regional development and tourism.
The projects will now undergo the comparative challenge process under the newly enacted PPP Code.
The RAPID Growth Project aims to support 78,000 farming households, develop MSMEs, and create business partnerships for a stable supply of raw materials.
NEDA Board approves changes to two major projects
Jan 26, 2024 07:12 AM
At a glance
National Economic and Development Authority (NEDA) Secretary Arsenio M. Balisacan said that President Marcos has approved the changes to the execution of two high-impact projects.
Chaired by the president, the NEDA Board has given the green light to the negotiated parameters, terms, and conditions (PTCs) for the upgrade and expansion of the Laguindingan International Airport project in Northern Mindanao.
Balisacan also said the NEDA has endorsed the proposal to modify the schedule and scope of the Department of Trade and Industry's Rural Agro-enterprise Partnership for Inclusive Development and Growth, known as the RAPID Growth Project.
Balisacan said that the PTCs for the P12.7-billion Laguindingan airport project were negotiated by the Department of Transportation, the Civil Aviation Authority of the Philippines, and the original proponent of the unsolicited public-private partnership (PPP) project.
Balisacan said the government may award the operations and maintenance of the Misamis Oriental airport to the private sector in May this year, following the competitive bidding initiated to challenge Aboitiz InfraCapital Inc.'s unsolicited proposal.
Approved in July 2023, the project supports the government’s efforts to enhance regional development and promote tourism in Northern Mindanao and its neighboring regions.
Following the approval of the modified PTCs, the project will now undergo the comparative challenge process following the rules under the newly enacted PPP Code.
Meanwhile, President Marcos also approved the request to change the timeline and scope of the 4.78-billion RAPID Growth Project that aims to support 78,000 farming households by expanding both on-farm and off-farm activities and generating employment opportunities in rural areas.
It seeks to support the growth and development of micro, small, and medium enterprises (MSMEs) with strong backward linkages to farmers, and to provide them access to the needed capital to sustain their businesses.
The project will also create business partnerships between MSMEs and farmers to ensure a steady source of high-quality raw materials for the production needs of agro-enterprises.