THE Senate finance committee on Wednesday approved the P9.97 billion budget of the National Economic and Development Authority (NEDA) for 2020.
The committee chair, Senator Juan Edgardo M. Angara, said legislators focused on how the agency plans to adapt the economy for the so-called Fourth Industrial Revolution which will bring about increased automation.
NEDA Undersecretary Rosemarie G. Edillon said the implementing rules and regulations for the newly enacted Philippine Innovation Act, under Republic Act No. 11293, are being drafted.
The IRR includes proposals to empower the Commission on Higher Education (CHEd) to upgrade students’ technical skills.
“We are finalizing the IRR within the month,” Ms. Edillon said during the budget deliberations.
Ms. Edillon noted NEDA has identified housing and urban development, agriculture, manufacturing, tourism and allied services, connectivity and financial services as among the areas that need innovation.
The Philippine Institute for Development Studies (PIDS) is the process of conducting research on how innovation can improve the country’s performance.
“We are planning to have a follow up on our innovation survey. We think it’s the right time now to do a follow up study,” PIDS President Celia M. Reyes said.
The 2020 NEDA budget is higher than the P8.331-billion approved under the 2019 General Appropriations Act. The Philippine Statistics Authority will get P7.321 billion, the Office of the NEDA Director General P1.441 billion, the Commission on Population P497.459 million and PIDS and other agencies P322.294 million.
