The Philippines' new Public-Private Partnership Code (Republic Act 11966) came into effect on Saturday, 23 December, aiming to streamline infrastructure development through enhanced collaboration between the public and private sectors.
Signed by President Ferdinand Marcos Jr. last 5 December, the PPP Code is expected to create a "stable and predictable environment" for public-private partnerships, according to a statement from the PPP Center.
This, in turn, aims to address "gaps in the infrastructure systems" and free up government resources for other vital projects.
The new law incorporates best practices from decades of experience with the Build-Operate-Transfer Law, aiming to " build better infrastructure projects and mitigating risks during their implementation."
The PPP Center hailed the "landmark" legislation as one that "unifies the fragmented PPP legal frameworks in the country under one governing law."
The PPP Governing Board will be tasked with drafting the implementing rules and regulations of RA 11966) within 90 days. While waiting for the final IRR, the board has taken steps to ensure a smooth transition and avoid delays in ongoing projects.
On 21 December, the board, chaired by National Economic and Development Authority Secretary Arsenio Balisacan, approved interim guidelines to provide stakeholders with "critical guidance" during the interim period.
"These guidelines will remain valid until superseded by subsequent interim guidelines or upon the effectivity of the IRR," the PPP Center said.
The PPP Code's implementation is being closely watched by both the public and private sectors, with hopes that it will significantly improve the pace and quality of infrastructure development in the Philippines.
