From NEDA to DEPDev: Need for transformation

Economic planning as the key to sustained national development has been boosted by the signing into law by President Marcos of Republic Act No. 12145 that officially transformed the National Economic and Development Authority (NEDA) into the Department of Economy, Planning and Development (DEPDev).

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Beyond a change in name, the creation of the DEPDev institutionalizes the crafting of a long-term national vision, along the lines of the current Ambisyon N2040 that was formulated in 2015. The Vision “embodies the long-term aspirations of all Filipinos. It shall be data-driven and evidence-based, encompassing all dimensions of economic, social, and environmental development,” according to RA 12145. Emanating from the Vision is the Framework, “a high-level and broad strategy spanning 25 years that shall guide the country toward sustainable growth and development and the attainment of the Vision.”