Senate OKs Public-Private Partnership Act on final reading
With 20 affirmative votes, the Senate unanimously approved on third and final reading the proposed Public-Private Partnership (PPP) Act.
Sen. Joseph Victor "JV" Ejercito, who principally sponsored and authored Senate Bill No 2233, said the measure will strengthen and revolutionize the way the government approaches public-private partnerships, aligning with the vision to the Marcos administration’s "Build Better More” program.
"It is both a privilege and an honor to have been entrusted with the responsibility of leading this landmark legislation, which stands as a testament to our collective dedication and hardwork here in the Senate," Ejercito said.
"Through our cooperation and support to this measure, we are confident that we are bringing about positive change by forging strong partnership with the private sector and harnessing their invaluable resources for national development," the senator added.
The bill is one of the priority legislatives bills of the 19th Congress, as identified by the Legislative Executive Development Advisory Council (LEDAC).
The measure aims to provide a unified legal framework for all PPPs at the national and local levels.
These significant reforms introduced in the PPP framework draw from both positive and negative experiences since the enactment of the Build-Operate-Transfer (BOT) law in the 1990s, according to Ejercito.
Once signed into law, the bill is expected to address the country’s worsening infrastructure backlogs, generate new opportunities for workers and the private sector, and eradicate poverty in the process.
Based on the Philippine Development Plan 2023-2028, the Philippines aiims to increase its infrastructure investments in several areas of development, such as transportation, water supply and sanitation, health, irrigation, and education.
President Marcos has vowed that the projects under the “Build Better More” will benefit the whole country as it covers investments in the areas of physical connectivity, water resources, agriculture, health, digital connectivity, and energy.