BusinessMirror March 30, 2022

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Neda: Duterte govt OK’d ₧5.3-T projects

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HE Duterte administration approved a total of P5.32 trillion in projects since it assumed office in 2016, according to data released by the National Economic and Development Authority (Neda). Data as of March 2022 showed that the amount covered a total of 112 projects. Majority or 94 of these projects are funded through Official Development Assistance (ODA); 14 are locally funded projects (LFPs); four are Public Private Partnership (PPP) projects; and one is an ODA-PPP funded project. The ODA projects amounted to P4.39 trillion while LFPs amounted to P102.87 billion; PPPs, P767.43 billion; and the ODA-PPP project, the LRT Line 1 South Extension

Project, cost P64.92 billion. “[The ICC] evaluates the fiscal, monetary and balance of payments implications of major national projects, and recommends to the President the timetable of their implementation on a regular basis,” Neda explained. “[It also] advises the President on matters related to the domestic and foreign borrowings program; and submits a status of the fiscal, monetary and balance of payments implications of major national projects,” it added. Based on the March 2022 data, the largest project is the NorthSouth Commuter Railway System Project worth P873.62 billion. The NSCR System involves the construction of a 147.3-km mass

transportation railway system from CRK in Mabalacat, Pampanga to Calamba, Laguna. The project includes the construction of 35 stations, three maintenance depots, and the acquisition of 464 train cars, inclusive of 56 Airport Express train cars. The project with the lowest cost is the Integrated Natural Resources and Environmental Management Project (INREMP) International Fund for Agricultural Fund (IFAD) Financing Reallocation worth P386.71 million. Neda said the National Irrigation Administration (NIA) component of the INREMP covered the municipalities of Bubong, Ditsaan-Ramain, Lumba-Bayabao, Maguing and Marawi City in the

province of Lanao del Sur. It involved the construction of six diversion structures in the existing intake structure and concrete lining of main and lateral canals with total lengths of 19.04 kms and 18.95 kms, respectively. The project will also construct temporary access roads with a total distance of 7.5 kms, and 11 supporting facilities, i.e., warehouse and solar dryers. In January, the Neda said the ICC approved a total of P1.31 trillion worth of projects in 2021. Neda OIC Undersecretary for Investment Programming Roderick M. Planta said this includes 30 projects, mostly ongoing projects. See “Neda,” A2

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CHIEF of Staff General Andres Centino of the Philippine Army speaks during opening ceremonies of the “Balikatan” (Shoulder to Shoulder) joint military exercises at Camp Aguinaldo, Quezon City, on Monday, March 28, 2022. Thousands of American and Filipino forces opened on Monday one of their largest combat exercises in years that will include live-fire training, urban assaults, amphibious landing and coastal defense in the northern Philippine region near its sea border with Taiwan. AP/AARON FAVILA By Cai U. Ordinario

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@caiordinario

HE world should brace itself for a spate of debt crises as a dozen developing countries could become unable to service their debts in the next 12 months, a World Bank expert has warned. See “Debt Crises,” A2

EASY ENTRY PROTOCOLS BOOST PHL AS ESL HUB By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

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HE further relaxation of requirements for inter nationa l travelers will help restore the country’s

place as a major destination to study English as second language (ESL). This developed as Malacañang moved to further relax restrictions on international See “ESL,” A2

Peza urges locators: Heed return to office By Jasper Emmanuel Y. Arcalas

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@jearcalas

HE Philippine Economic Zone Aut hor it y (Peza) on Tuesday urged business-process outsourcing (BPO) locators to abide by the return-

to-office rule by April 1 to avoid any penalties as stipulated by existing laws. In a statement, Peza Director General Charito Plaza appealed to locators to “adhere” to the Fiscal See “Peza,” A2

PESO exchange rates n US 52.2100 n japan 0.4215 n UK 68.3794 n HK 6.6689 n CHINA 8.1937 n singapore 38.3728 n australia 39.0948 n EU 57.3736 n SAUDI arabia 13.9190 Source: BSP (29 March 2022)


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