NEDA-ICC okays improvements in regional projects

The National Economic and Development Authority (NEDA) Board Investment Coordination Committee-Cabinet Committee (ICC-CabCom) approved three regional projects to further strengthening the government’s commitment to growth in the countryside.

During its July 27 meeting, the NEDA-ICC-CabCom said that it has approved R13.5 billion worth of regional infrastructure projects, including the Davao City bypass construction project, Panguil Bay bridge project and flood risk management project in Cagayan, Tagoloan, and Imus rivers.

Changes in scope and cost were discussed for the three projects, the NEDA said.

Of the regions involved, Regions XI, II, CALABARZON posted gross regional domestic product (GRDP) growth rates last year of 10.9 percent, 7.2 percent, 6.7 percent, respectively. These are higher than the National Capital Region’s 6.1 percent.

“The said regions aim to achieve GRDP growth rates of 10.5 to 11.5 (Region XI), 6.5 to 7.5 (Region II), and 6.0 to 7.3 (CALABARZON) by 2022,” the NEDA said in a statement.

“The ICC and the whole of government is steadfast in sustaining these regions’ growth momentum. These improvements in the projects reflect this commitment,” said Socioeconomic Planning Secretary Ernesto M. Pernia, Co-Chair of the ICC.

Pernia added that regional projects provide interconnectivity and facilitate exchange of goods and services, besides people. The Panguil Bay Bridge Project specifically will boost growth in Regions IX, X, and XII.

Meanwhile, the ICC urged the Department of Transportation to fast-track the implementation of the Cebu Bus Rapid Transit (CBRT), which forms part of the Metro Cebu Intermodal and Integrated Transport System (MCIITS), to achieve interoperability by June 2021.