October 24, 2017
MANILA – The National Economic and Development Authority (NEDA) Board’s Investment Coordination Committee-Cabinet Committee (ICC-CabCom) approved on Friday two projects and one request for additional financing.
The first two new projects approved are the Phase I of the Safe Philippines Project of the Department of the Interior and Local Government and the Bridge Construction and Acceleration Project for Socioeconomic Development of the Department of Public Works and Highways.
The Safe Philippines Project aims to improve the capabilities of local government units towards collaborative and more efficient management of public order, security, and safety. With an estimated cost of PhP20.313 billion, the project entails the construction of 18 integrated operations and command centers that are complete with video surveillance systems and a remote backup data center.
Socioeconomic Planning Secretary Ernesto Pernia highlighted the importance of the project in ensuring security, public order, and safety as this constitutes the bedrock (referring to 0 in the 0-10 Points) Socioeconomic Agenda of the Duterte Administration.
“We value the need of people to feel safe wherever they are in the country and to be able to go about their business and other pursuits. This is essential in building the foundation for inclusive growth, a high trust society, and a globally competitive knowledge economy,” Pernia said.
The Bridge Construction and Acceleration Project for Socioeconomic Development, on the other hand, involves the construction of five iconic bridges and 25 truss bridges, altogether with a total length of 2,848 lineal meters, in nine regions of the country. With an estimated cost of PhP11.369 billion, the construction of these bridges is expected to be completed by 2022.
Meanwhile, the additional financing for the new Bohol Panglao International Airport project aims to address further civil works requirements of the project amounting to PhP1.23 billion.
Said project is expected to be completed by June 2018.