The signing into law of the Department of Economy, Planning, and Development (DEPDev) Act is a “historic reform” and a “national victory,” according to Senator Juan Miguel Zubiri.
Republic Act (RA) 12145, signed by President Ferdinand R. Marcos Jr. on April 10, reorganized the National Economic and Development Authority (NEDA) into a full-fledged Cabinet-level department.
“We are now equipping the agency with the power and resources it needs to drive real economic progress for the Filipino people,” Zubiri, chair of the Senate Committee on Economic Affairs and principal author of the DEPDev Act, said in a news release Tuesday.
The new law grants DEPDev broader authority to harmonize national and local economic strategies, oversee the Public Investment Program, and manage the Philippine Development Plan.
It will also serve as the lead agency in coordinating development efforts across sectors, aiming to address persistent challenges such as regional disparities, job creation, and infrastructure development.
“This is more than just structural reform. It’s about future-proofing our economy. We’re giving our planners and economists the tools they need to anticipate global shifts, respond with agility, and deliver inclusive progress,” Zubiri said.
He credited the leadership of NEDA Secretary Arsenio Balisacan and the agency’s workforce for their role in shaping and advancing the measure through Congress.
“With unity and sustained support, we can turn this department into a true engine of national development,” he added. (PNA)
