Lawmakers welcome signing of DEPDev law

PTVPhilippines

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00:00In the meantime, some House leaders have expressed confidence that the newly established Department of Economy,

00:05Planning and Development will significantly help improve the state of the Philippine economy.

00:10Formerly known as the National Economic and Development Authority, or NEDA,

00:14the agency has now been formally reorganized into a full-fledged department under Republic Act No. 12145.

00:21According to House Committee on Ways and Means Chair Joey Salceda, one of the principal authors of the measure,

00:27the creation of the new department will enable the government to pursue long-term policies and projects

00:33that can yield greater returns for the Filipino people,

00:37and emphasized that the new department strengthens the country's ability to anticipate and respond

00:41to technological shifts, economic disruptions, and global uncertainties.

00:46In the meantime, House Committee on Government Reorganization Chair Jonathan Keith Flores,

00:51the principal sponsor of the NEDA bill, said that the department will play a key role in addressing poverty.

00:57Flores also believes that current issues such as the imposition of reciprocal tariffs by the United States

01:02can now be handled more effectively with the help of the new law.

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