Pres. Ferdinand R. Marcos Jr. has signed into law the bill reorganizing the National Economic and Development Authority (Neda) into the new Department of Economy, Planning, and Development or DepDev.
Marcos Jr. signed Republic Act 12145 on Thursday, April 10, according to Bukidnon representative Jonathan Keith Flores, the principal sponsor of the legislation in the House of Representatives.
“RA 12145 is 31 pages long. For the most part, it consolidated into one law all of the roles and functions the Neda, its committees, and the regional development boards had accumulated over the years across various other laws, implementing rules, guidelines, and executive orders,” Flores said in a statement.
The law also updates and upgrades some functions to make Neda fit into its new role as the DepDev.
Flores said DepDev is configured better now to play its central role in shaping economic and social policies, formulating and monitoring plans like the Philippine Development Plan, Regional Development Plans, and Recovery and Resiliency Plans, among others.
It conducts yearly reviews such as the ODA Portfolio Review and manages an evaluation portal for government projects, added Flores.
“The reorganization into the Department of Economy, Planning, and Development will institutionalize its expanded mandate, allowing the agency to improve coordination with other executive departments and fulfill its role as the primary planning and policy body of the government,” he said.
