The Economy and Development (ED) Council, chaired by President Ferdinand R. Marcos Jr., held its inaugural meeting today, June 18, and approved several landmark decisions aimed at strengthening the country’s water security, infrastructure, and rural development.
Among the Council’s key resolutions was the approval of a 10-year extension of the Revised Concession Agreements of Maynilad Water Services, Inc. and Manila Water Company, Inc. The move extends the agreements from July 31, 2037, to January 21, 2047, aligning the contracts with the companies’ legislative franchises under Republic Act Nos. 11600 and 11601.
The extension, endorsed by the Metropolitan Waterworks and Sewerage System (MWSS), is expected to secure long-term access to safe, reliable, and affordable water for Metro Manila and neighboring provinces. The Department of Economy, Planning, and Development (DEPDev) projects that the extension will drive capital investments, ease tariff pressures, and generate approximately PhP50.3 billion in additional government revenues.
“Ensuring water security is fundamental to fostering economic growth and improving the quality of life for our growing population,” said ED Council Vice Chairperson and Economics Secretary Arsenio M. Balisacan. “By aligning the concession agreements with legislative franchises, we are advancing policy coherence and long-term investment planning in the water sector.”
In addition to the water sector reforms, the Council approved two major infrastructure projects to be funded through Official Development Assistance (ODA):
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The PhP27.7-billion Farm-to-Market Bridges Development Program of the Department of Agriculture will construct 300 climate-resilient modular steel bridges across 52 provinces in 15 regions. The initiative seeks to reduce post-harvest losses, improve market access, and uplift rural livelihoods, particularly in geographically isolated and disadvantaged areas.
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The PhP5.1-billion Liloan Bridge Construction Project of the Department of Public Works and Highways will build a four-lane, 721-meter bridge connecting Panaon Island to mainland Leyte. The project will replace an aging structure, improving mobility for the municipalities of Liloan, San Francisco, Pintuyan, and San Ricardo, and spurring local economic activity and job creation.
“The inaugural meeting of the ED Council marks a pivotal shift toward integrated and responsive national development planning,” Secretary Balisacan added. “By reinforcing water supply systems, enhancing rural infrastructure, and improving connectivity, we aim to unlock broader economic opportunities and foster inclusive growth.”
The ED Council was created under Republic Act No. 12145, or the Economy, Planning, and Development Act, which reorganized the National Economic and Development Authority (NEDA) into the Department of Economy, Planning, and Development. The law also expanded the Council’s membership to include the Secretaries of Health, the Interior and Local Government, and Labor and Employment, alongside the original NEDA Board members—ushering in a new era of strategic governance and policy coordination.
