The House of Representatives has given second reading approval to Bill (HB) 1062, which seeks to create the Department of Economics and Development Planning (DEDP).
The DEDP will effectively replace the current National Economic Development Authority as it will have the rights, obligations, powers, functions, assets and personnel of the latter after the enactment of the measure.
The bill seeks to “strengthen the culture of development planning in the country, thereby ensuring that government programs and policies are coherent, well-coordinated and integrated for the purposes of national development.”
HB 1062 also intends to “revitalize the role of an economic and planning agency independent of government as the primary integrator of government economic development programs and policies.”
Based on the measure, the proposed agency is responsible for leading the planning and programming of investments with the aim of facilitating sustainable and inclusive economic growth.
The DEDP will be designated as the lead secretariat for the Advisory Council of the Legislative-Executive Department.
The bill also establishes the Economic and Development Council, which is “responsible for directing and providing general policy direction on economic, financial, social and environmental matters.”
HB 10625, titled “An Act to Establish the Department of Economics and Development Planning, Defining Its Functions, and Allocating Funds Therefor”, was presented by Representatives Joey Sarte Salceda, Weslie Gatchalian, Victoria Yap, Rufus Rodriguez and Angelo Marcos Barba.