NEDA seeks to amend the rules and regulations of the Build-Operate-Transfer law to address financial viability and implementation ambiguity.
The NEDA chief said that this reform complements the Investment Coordination Committee or ICC Guidelines for PPP projects and the 2023 Revised NEDA Joint Venture guidelines.
He further said that the President is finalizing the Executive Order on Expediting the Processing of Documentary Requirements for the Infrastructure Flagship Projects.
Of the 197 infrastructure projects, 88 are still undergoing various stages of preparation.
NEDA seeks to ease policies for infrastructure programs
Oct 26, 2023 07:01 AM
At a glance
An amendment seeking to address the private sector’s concerns and create a more enabling policy environment for infrastructure projects is in the works, the National Economic and Development Authority (NEDA) said.
During the 12th Arangkada Philippines Forum yesterday, NEDA Secretary Arsenio M. Balisacan said that the amendment to the Build-Operate-Transfer law will be a landmark piece for the Marcos administration.
"I am pleased to share that we have revamped the governing frameworks for high-impact Public-Private Partnerships, or PPPs, in the investment ecosystem,” Balisacan said.
“The Revised 2022 Implementing Rules and Regulations (IRR) of the Build-Operate-Transfer (BOT) Law address various concerns from private-sector stakeholders regarding financial viability and implementation ambiguity," he added.
The amendment aims to streamline legal, policy, and regulatory frameworks in developing, implementing, and monitoring Public-Private Partnership (PPP) projects, which focus on balancing public and private sector objectives.
The NEDA chief emphasized that this reform complements other measures, such as the Investment Coordination Committee or ICC Guidelines for PPP projects and the 2023 Revised NEDA Joint Venture guidelines.
These measures will ensure the full participation of private-sector partners in the joint construction and operation of infrastructure projects.
Further, the president is finalizing the Executive Order on Expediting the Processing of Documentary Requirements for the Infrastructure Flagship Projects, Balisacan said.
This measure will simplify the requirements and clearances needed by implementing agencies for priority infrastructure projects.
Of the 197 infrastructure projects, 88 are still undergoing various stages of preparation, wherein the private sector may participate.
"The Marcos Administration has been proactively addressing bottlenecks in the timely completion of these IFPs. We aim to substantially implement these projects, if not complete them, by 2028," the NEDA chief said.
The 12th Arangkada Philippines Forum was organized by the Joint Foreign Chambers of the Philippines to bring together experts and industry leaders to facilitate the integration of sustainability principles into accelerating inclusive growth and development.