00:00President Ferdinand Marcus Jr. signed into law a measure that will transform the National Economic and Development Authority, or NEDA, into a department.
00:10Republic Act 12145, or the Economic Planning and Development Act, reorganizes NEDA into the Department of Economic Planning and Development.
00:22The agency is mandated to ensure the alignment of institutionalized national and regional plans, the integration of long-term strategies into budgeting process, and the pursuit of proactive approaches toward addressing emerging challenges.
00:40It is also tasked to strengthen the capacities of national and local government agencies in planning and policymaking to ensure equitable access to economic opportunities.
