The Economy and Development (ED) Council, formerly the NEDA Board, on Wednesday approved a 10-year extension for the concession agreements of Maynilad Water Services Inc. and Manila Water Company Inc. to ensure continued water supply for Metro Manila and nearby provinces.
The approval, made during the council’s inaugural meeting Wednesday and chaired by President Ferdinand Marcos Jr., extends the agreements from July 31, 2037 to Jan. 21, 2047.
This aligns the contracts with the legislative franchises of both companies, as mandated by Republic Act Nos. 11600 and 11601.
The Department of Economy, Planning and Development (DEPDev) said in a statement the extension is expected to accelerate capital investments, reduce tariff pressures and secure long-term water supply. It is also projected to generate an additional P50.3 billion Philippine ($858 million) in government revenues.
“Ensuring water security is fundamental to fostering economic growth and improving the quality of life for our growing population,” said DEPDev Secretary Arsenio Balisacan, who is also the ED Council vice chairperson.
“By aligning the concession agreements with legislative franchises, we are promoting policy coherence and long-term investment planning in the water sector,” he said.
The ED Council also approved two new infrastructure projects, financed through official development assistance (ODA).
One project is the P27.7-billion Farm-to-Market Bridges Development Program by the Department of Agriculture. This will construct 300 climate-resilient modular steel bridges across 52 provinces in 15 regions.
Balisacan said improving physical connectivity in farming and fishing communities addresses infrastructure gaps that limit market access, increase post-harvest losses and hinder rural productivity. He said the program aims to uplift rural incomes and improve food logistics, especially in geographically isolated and disadvantaged areas.
The council also approved the P5.1-billion Liloan Bridge Construction Project by the Department of Public Works and Highways. This involves building a four-lane, 721-meter bridge connecting Panaon Island to mainland Leyte, replacing the existing structure. It is expected to improve mobility and access for residents and travelers in the municipalities of Liloan, San Francisco, Pintuyan, and San Ricardo, while stimulating local economic activity and job creation.
“The inaugural meeting of the Economy and Development Council sets the tone for a more integrated and responsive approach to development planning and investment programming,” said Balisacan.
“By strengthening water resources, agricultural productivity, and infrastructure connectivity, we aim to unlock greater economic opportunities and foster inclusive growth for more communities across the country,” he said.
The ED Council was established following the enactment of RA 12145, also known as the Economy, Planning and Development Act, which took effect on April 27. The newly reorganized council retained the original members of the NEDA Board and added the Secretaries of the Department of Health, Department of the Interior and Local Government, and Department of Labor and Employment as new members. Republic Act No. 12145 reorganized the National Economic and Development Authority, or NEDA, into the Department of Economy, Planning and Development.
