By Philippines News Agency

MANILA — The National Economic and Development Authority (NEDA) Board headed by President Rodrigo Duterte has approved the PHP1.47-billion New Nayong Pilipino at Entertainment City project under the flagship public private partnership (PPP) program.

The project was endorsed by the Investment Coordination Committee.

The tourism-oriented facility is envisioned to be the top-of-mind destination for foreign and local tourists.

The planned cultural theme park of the Department of Tourism (DOT) and Nayong Pilipino Foundation (NPF) will be an experiential and creative showcase of the various elements and dimension of the Filipino culture, identities and traditions spanning past and contemporary periods.

The winning private partner will build, operate and maintain the project with a cooperation period of 23 years which includes a three-year construction period.