In a decisive move, the House of Representatives in Manila has passed a bill on its third and final reading to restructure the National Economic Development Authority (NEDA) into a new entity known as the Department of Economy, Planning and Development (DEPDEV). The vote, which took place during a plenary session, saw 178 lawmakers unanimously supporting House Bill 11199, also known as the Economy, Planning, and Development Act, with no opposition or abstentions recorded.
The new department, DEPDEV, is set to become the central hub for policy planning, coordination, and monitoring within the executive branch, focusing on national economic development. It will be tasked with developing a cohesive set of policies, plans, and programs aimed at national development, which will then be submitted for approval to the newly established Economy and Development Council (ED Council).
The ED Council will act as a high-level advisory body, guiding the nation’s economic policies to foster inclusive and sustainable growth. Additionally, DEPDEV will be responsible for ensuring that national and regional policies, plans, and programs are aligned and coherent, optimizing the use of financial and economic resources and managing the country’s public investment initiatives.
The Senate had previously approved its version of the bill in December, paving the way for the transformation of NEDA into DEPDEV.