Senator Migz Zubiri hailed the Senate’s third reading approval of the Economy, Planning, and Development Act, which elevates the National Economic and Development Authority (NEDA) into a full-fledged department under the name Department of Economy, Planning, and Development (DEPDev).
Zubiri, who has championed the measure as chair of the Senate Committee on Economic Affairs, underscored the bill’s significance beyond organizational restructuring, calling it a victory for the nation.
“This is not a win for the NEDA – this is a win for the country.”
“Our friends at the NEDA have been waiting for this for a long time, but truthfully this is not a win for the NEDA – this is a win for the country,” the veteran legislator said during his manifestation on the floor.
With DEPDev at the helm, the seasoned lawmaker explained, Filipinos can expect more efficient economic planning and implementation that will lead to tangible benefits.
“We can look forward to better economic planning and implementation, which will translate to more jobs, more income, and more development from the ground up,” the senator emphasized.
The bill institutionalizes DEPDev as the government’s primary economic policy and planning agency, tasked with aligning national development strategies across all levels of governance. It also formalizes the department’s oversight role in crafting and managing the country’s public investment program, ensuring economic growth is inclusive and sustainable.
He expressed gratitude to the leadership of NEDA, led by Secretary Arsenio Balisacan, for their critical role in shaping the measure.
“I thank Sec. Arci Balisacan and the whole NEDA team who worked with us in steering this bill through the Senate,” Zubiri said, recognizing their technical expertise and commitment to national development.
The former Senate President also lauded his colleagues for their unified support in passing the measure.
“I thank our colleagues for being one with us in our push for the DEPDev,” Zubiri added, noting the broad consensus that economic planning deserves a stronger institutional foundation.
The creation of DEPDev reflects the increasing complexity of economic challenges that require cohesive and strategic policymaking.
Zubiri stressed that the new department will play a pivotal role in addressing issues such as job generation, income inequality and infrastructure development.
“Elevating NEDA to department status is timely, given the country’s ambitious development goals and ongoing post-pandemic recovery efforts.”
He further highlighted that elevating NEDA to department status is timely, given the country’s ambitious development goals and ongoing post-pandemic recovery efforts.
“This ensures that our economic plans are not just well-crafted but also effectively implemented to benefit every Filipino,” Zubiri stressed.
The proposed DEPDev will also strengthen the Philippines’ position in the global arena, enabling it to interface more effectively with international economic organizations and potential investors as a full-fledged department.
“This is about equipping the agency with the power and resources it needs to drive real economic progress for the Filipino people,” he said.
With the bill now moving closer to enactment, Zubiri urged continued collaboration across sectors to ensure DEPDev fulfills its mandate.
“We can’t stop here. DEPDev will need the full support of all government stakeholders as it leads our economic growth strategies moving forward,” he said.
Zubiri expressed confidence that the creation of DEPDev will mark a turning point in the Philippines’ economic development trajectory.
“This is the beginning of a new chapter for our country’s economic planning. Let us work together to make this vision a reality,” he said.
