MANILA, Philippines — The National Economic and Development Authority (Neda) Board on Friday approved several measures to advance the Laguindingan International Airport Project.
According to Neda Secretary Arsenio Balisacan, the Neda Board approved the parameters, terms, and conditions (PTC) to upgrade the airport.
“The Neda Board approved the negotiated parameters, terms, and conditions or PTCs of the upgrade, expansion and operations and maintenance of the Laguindingan International Airport in Northern Mindanao,” said Balisacan in a Palace briefing.
The project costs an estimated P12.75 billion, said Balisacan.
In addition, the Neda Board also approved a change in the timeline and scope of the Department of Trade and Industry’s Rural Agroenterprises Partnership for Inclusive Development (Rapid) and Growth Project.
“The Rapid Growth Project amounting to P4.78 billion aims to support 78,000 farming households by expanding both on-farm and off-farm activities and generating employment opportunities in rural areas,” said Balisacan.
President Ferdinand Marcos Jr. was also presented with the Philippine Development Report 2023 during the Neda Board meeting.
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Balisacan said that the Philippine economy has performed well. The said report also outlines possible economic measures for the future.
“It identifies the lessons we have learned, and this translates into urgent priorities and plans of action to ensure we remain on track to meet our goals by 2028,” said Balisacan.