NEDA Board approves high-impact projects vital to PH’s social, economic transformation – Presidential Communications Office

The National Economic and Development Authority (NEDA) Board, chaired by President Ferdinand R. Marcos Jr., approved on Thursday four high-impact projects, plans and policies crucial to the country’s social and economic transformation.

In a press briefing in Malacañang, Socioeconomic Planning Secretary Arsenio Balisacan said that the NEDA Board confirmed during its 12th meeting the construction of a P67.4 billion 23-kilometer four-lane alternative route to bypass the existing Dalton Pass in Central Luzon, particularly during road closures due to calamities, which is expected to be completed by 2031.

The project, to be implemented by the Department of Public Works and Highways (DPWH), will facilitate the seamless transport of people in the delivery of essential goods and services within the region.

Balisacan, who heads the NEDA, also said the Board confirmed the second phase of the masterplan and High Standard Highways, or HSH, Network Development of the DPWH, aimed at providing higher quality, high standard highway network for faster, safer, more comfortable, more reliable and an environmentally-friendly road transport.

This is expected to support the administration’s goal for a rapid, inclusive and sustained economic growth in the country.

The masterplan has identified 53 class 1 projects that will be implemented in the short term, or projects to be completed by 2030; medium term, or those commencing in 2030 and to be completed by 2035; and long term, or projects commencing in 2035 and to be completed by 2045.

Also among those given a nod include the Board’s endorsement for the proposed executive order  extending until December 31, 2024 the reduced Most Favored Nation (MFN) tariff rates on selected commodities covered under Executive Order No. 10, series of 2022 including pork, corn and rice.

“The tariff rates for pork will remain at 15 percent in-quota and 25 percent out-quota; corn at 5 percent in-quota and 15 percent out-quota; and rice at 35 percent, for both in-quota and out-quota for the extended period,” Balisacan said.

“In addition, the NEDA Board also approved the recommendation of the Committee on Tariff-Related Matters to modify the review period for