By Louella Desiderio, May 5, 2023; The Philippine Star
MANILA, Philippines — Priority programs and projects to be implemented by the government under the Public Investment Program (PIP) 2023 to 2028 will require investments amounting to P20.2 trillion.
In a statement, the Public-Private Partnership Center said the National Economic and Development Authority (NEDA) has released the PIP 2023 to 2028, a document accompanying the Philippine Development Plan (PDP) and containing priority programs and projects to be implemented by the government within the medium-term.
The priority programs and projects under the PIP are those seen to contribute to meeting the targets in the PDP of promoting job creation and accelerating poverty reduction through high economic growth.
Highlights of the PIP showed the government has 5,329 priority programs and projects with a total investment target of P20.2 trillion from 2023 to 2028.
Infrastructure has the largest share in terms of investments amounting to P17.3 trillion for 3,770 priority programs and projects.
“As the PDP 2023 to 2028 has identified infrastructure as critical to the economic transformation of the country, and consistent with the current administration’s recognition of infrastructure as the ‘backbone of an economy’, infrastructure has the largest share of investments over the medium-term for projects related to transportation, water resources, energy, information and communications technology, and social and other public infrastructure,” the highlights read.
After infrastructure, modernizing agriculture and agri-business has the second biggest share in investment targets with a total of 391 priority programs and projects amounting to P806 billion.
This is followed by improving education and lifelong learning with a total of 62 priority programs and projects with an investment target of P701 billion.
“Similar to the previous medium-term PIP (2017-2022), the themes on infrastructure, social development, and agriculture continue to have the largest shares in the medium-term investment targets,” the highlights read.
By mode of implementation, 95.93 percent or 5,112 priority programs and projects under the PIP 2023 to 2028 will be undertaken through the national government budget.