The National Economic and Development Authority (NEDA) Board has approved the negotiated parameters, terms and conditions for the PHP12.75 billion (US$ 227.5 million) Laguindingan International Airport project in Misamis Oriental, Philippines.

The initiative will undergo the comparative challenge process as outlined in the recently enacted Public-Private Partnership (PPP) Code. According to the guidelines set by the PPP Code, potential challengers will have 90 days starting from the publication of the invitation for the submission of comparative proposals. After this timeframe, Aboitiz InfraCapital Inc., the original proponent, will have 30 calendar days to match any responsive comparative proposals. In the absence of such proposals, the project is slated to be awarded to the original proponent by May 2024.

In 2018, Aboitiz InfraCapital initially submitted an unsolicited proposal amounting to PHP148 billion (US$2.6 billion) for the acquisition of four airports, including Laguindingan Airport. The company was granted original proponent status for the Laguindingan Airport project in 2019. The NEDA Board approved the project in July 2023, marking a significant component of the government's overarching strategy to promote regional development and stimulate tourism in Northern Mindanao and surrounding areas. The Department of Transportation (DOTr) aims to commence the implementation of the first phase of the Laguindingan International Airport project between 2024 and 2026.