Manila: The House of Representatives on Tuesday overwhelmingly approved on third and final reading a bill reorganizing the National Economic Development Authority (NEDA) into the Department of Economy, Planning and Development (DEPDEV).

According to Philippines News Agency, during the plenary session, a total of 178 lawmakers voted in favor of House Bill 11199, or the proposed Economy, Planning, and Development Act. No lawmaker voted against the measure or abstained from voting.

The bill outlines that DEPDEV would serve as the primary policy planning, coordinating, and monitoring arm of the executive branch for national economic development. The proposed department is tasked with formulating the country’s continuing, integrated, and coordinated policies, plans, and programs for national development, which will be subject to approval by the Economy and Development Council (ED Council).

The ED Council will function as the executive collegial body responsible for providing overall policy direction on economic matters to achieve inclusive and sustainable economic growth and development. Additionally, DEPDEV is tasked with ensuring the vertical and horizontal alignment and coherence of national and sub-national policies, plans, and programs to optimize the use of financial and economic resources, while overseeing the country’s public investment program.

The Senate had passed its version of the bill in December.