THE Economy and Development (ED) Council, formerly known as the National Economic and Development Authority or NEDA Board, approved the 10-year extension of the concession agreements for Maynilad Water Services, Inc. and Manila Water Company, Inc.
Chaired by President Ferdinand Marcos, Jr., the ED Council approved the request of the Metropolitan Waterworks and Sewerage System (MWSS) to extend the Revised Concession Agreements of the two major water service providers during the ED’s inaugural meet held today. The move aims to ensure sustained access to safe, reliable, and affordable water for Metro Manila and surrounding provinces.
The extension—from July 31, 2037 to January 21, 2047—aligns the contracts with the legislative franchises of both concessionaires, as mandated by Republic Act (RA) Nos. 11600 and 11601. According to the Department of Economy, Planning, and Development (DEPDev), the extension is expected to accelerate capital investments, minimize tariff pressures, and secure long-term water supply. It is also projected to generate additional government revenues amounting to P50.3 billion.
“Ensuring water security is fundamental to fostering economic growth and improving the quality of life for our growing population. By aligning the concession agreements with legislative franchises, we are promoting policy coherence and long-term investment planning in the water sector, which are essential for delivering clean, reliable, and affordable water services to millions of Filipinos,” said ED Council Vice Chairperson and Economics Secretary Arsenio Balisacan.
In addition to the water concession extension, the ED Council approved two new infrastructure projects financed through the Official Development Assistance (ODA), aimed at enhancing connectivity and agricultural development.
One of the approved projects is the PhP27.7-billion Farm-to-Market Bridges Development Program of the Department of Agriculture. The program will construct 300 climate-resilient modular steel bridges across 52 provinces in 15 regions.
“By improving physical connectivity in farming and fishing communities, the Farm-to-Market Bridges Development Program addresses persistent infrastructure gaps that limit market access, increase post-harvest losses, and hinder rural productivity. It also aims to uplift rural incomes and improve food logistics, particularly in geographically isolated and disadvantaged areas,” Balisacan added.
The ED Council also greenlit the P5.1-billion Liloan Bridge Construction Project of the Department of Public Works and Highways. The project involves constructing a four-lane, 721-meter bridge connecting Panaon Island to mainland Leyte, replacing the deteriorated 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 in the region.
“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. 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,” Balisacan, who is the country’s chief economist, said.
The ED Council was established following the enactment of RA No. 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.
RA No. 12145 reorganized the NEDA into the DEPDev, ushering in a new era of strategic governance and policy coordination.