Senator Juan Miguel “Migz” Zubiri emphasized the significance of reorganizing the National Economic and Development Authority (NEDA) into the Department of Economy, Planning and Development (DEPD) to align the country’s economic plans with national and local government policies.

“For decades, NEDA has been at the helm of our economic planning, doing its level best to avert economic headwinds and keep us on course with tailwinds,” Zubiri said during his sponsorship of Senate Bill (SB) 2878, the Economy, Planning and Development Act.

He noted that economic growth “cannot be the work of one agency alone.”

“We need a whole-of-government follow-through on our economic plans,” he added.

The proposed institutionalization of the DEPD aims to elevate NEDA's current role by granting it the full authority and standing of an executive department.

Zubiri, the current chair of the Senate Economic Affairs Committee, explained that this transformation will empower the DEPD to advocate for the implementation of economic policies across government agencies and engage with foreign stakeholders more effectively.

“As the Department of Economy, Planning and Development, it will be in a better position to advocate for the implementation of its economic plans and policies — and it will be able to engage with other government agencies and offices, as well as foreign political actors, with the full standing and command of an executive department,” he said.

Zubiri emphasized the importance of strengthening regional development as part of the DEPD's expanded mandate.

“Development has to sprout from the ground up. It's neither wise nor sustainable to draw up a big-picture plan without first considering what is happening on the ground,” he stressed.

“The establishment of the DEPD and its Regional Offices will be vital in this regard.”

In addressing concerns about the financial implications of the reorganization, Zubiri assured the public and stakeholders that the proposal involves minimal additional costs.

“This measure does not create a new agency. It simply reorganizes NEDA and institutionalizes its expanded powers and functions,” he clarified.

“The reorganization is only expected to require a minimal addition of 170 new positions, amounting to P116 million,” he added.

The DEPD's expanded presence at the regional level will enable it to evaluate project proposals, land use plans, and other development initiatives, ensuring they align with the country’s overarching economic strategies.

Zubiri likewise underscored that this approach ensures inclusive growth across the Philippines.

“We have to anchor our economic plans in the reality of our regions and our people. By grounding our strategies in what is happening locally, we can create a more effective and inclusive economic growth plan,” he said.

The DEPD, he said, could become a critical institution for maintaining the country’s competitiveness in Southeast Asia, which is rapidly becoming a hub for global investments.

“This is an opportune time for Southeast Asia, but we still have to fight for our seat at the table. This is why we need the DEPD to lead the way for our economic growth,” he emphasized.

Zubiri stated that the DEPD would institutionalize economic planning and ensure continuity across administrations.

“This reorganization puts us on a stronger footing, enabling the Philippines to be a dynamic force in Southeast Asia,” he said, highlighting the long-term benefits of the reorganization.