The National Economic and Development Authority (NEDA) said the government is committed to transparency and participatory processes through active stakeholder engagement for public-private partnerships (PPP).
In a statement, Socioeconomic Planning Undersecretary Joseph J. Capuno said they will strike the right balance between public and private interests in PPP policies and projects.
Currently, the NEDA is in the process of amending the 2022 Implementing Rules and Regulations (IRR) of the Amended Build-Operate-Transfer (BOT) Law.
Capuno, who heads NEDA’ investment programming group, explained there is the need to revisit the present IRR to improve the public-private partnership regime in the country.
“We encourage everyone to actively participate in this activity with the utmost consideration of transparency and emphasis on ensuring that PPP projects undertaken by the government would lead to better and more affordable services for the Filipino people,” Capuno said.
In light of the tighter fiscal space that the government faces, the Marcos administration seeks to utilize PPPs in order to address the binding constraints to investments and job creation in key sectors of the economy.
In particular, PPPs are seen as a crucial mode of financing infrastructure projects in energy, transportation and logistics, information technology, and water.
The proposed amendments to the 2022 IRR of the Amended BOT Law were based on the comments received during the previous public consultation of the Public-Private Partnership Center (PPPC) in March 2022.
Specifically, the amendments sought to address stakeholder concerns on the financial viability and bankability of PPP projects, clarify ambiguous provisions that could cause delays in the PPP process, and solicit inputs from the public on other possible revisions.
“It is our belief that putting in place the right policies, institutional frameworks, and regulations to strengthen competition and transparency in the PPPs from the development up to the implementation stages would significantly contribute to our post-pandemic economic transformation,” Capuno said.
“Doing so is crucial to achieving our country’s long-term vision, AmBisyon Natin 2040, in which Filipinos enjoy a strongly-rooted, comfortable, and secure life,” he added.