President Marcos’ signing into law of the Department of Economy, Planning and Development (DEPDev) Act will pave the way for a historic reform in government development planning, Sen. Juan Miguel “Migz” Zubiri said on Tuesday, April 15.
The new law, Republic Act No. 12145, primarily transforms the National Economic and Development Authority (NEDA) into a full-fledged department, now known as DEPDev.
DEPDev will have Cabinet-level status and expanded authority to align economic planning from the national level down to local government units (LGUs).
Marcos signed the measure into law last April 10 but made it public on Friday. DEPDev will now be the country’s primary policy, planning, coordinating, monitoring arm of the Executive Department on the national economy.
“Today we start a new era of development planning. The signing of the DEPDev Act marks the beginning of a more empowered and coordinated approach to economic growth and public investment,” Zubiri said.
“This is more than just structural reform, it’s a national victory,” added the head of the Senate Committee on Economic Affairs.
“Our friends at the NEDA have long deserved the resources and recognition necessary to lead our development agenda. But more than that, this is a win for the country,” the lawmaker further said.
Zubiri, who had championed the DEPDev measure since its inception, believes that turning NEDA into a department is key to unlocking the Philippines’ full growth potential through better policy integration, investment coordination and infrastructure planning.
“As the Father of DEPDev and the enactment of this measure, I am very proud of what we have accomplished. We can look forward to better economic planning and implementation, which will translate to more jobs, more income and more development from the ground up,” he noted.
Under the law, DEPDev will act as the central agency responsible for crafting and managing the Philippine Development Plan, the Public Investment Program and other long-term national strategies.
The former Senate president said DEPDev will also serve as the lead agency for monitoring and harmonizing development projects across all sectors and levels of government.
Likewise, the new department is expected to play an important role in addressing persistent challenges such as regional inequality, job generation and infrastructure gaps, particularly in a post-pandemic economy.
Moreover, DEPDev is envisioned to interface more effectively with international development partners and institutions, Zubiri stressed.
“This is about future-proofing our economy. We’re now giving our planners and economists the tools they need to anticipate global shifts, respond with agility, and deliver inclusive progress for all,” he further said.