MANILA – Finance Secretary Benjamin Diokno on Wednesday said the newly-enacted Public-Private Partnership (PPP) Code of the Philippines will ensure the realization of high-quality infrastructure projects and services in the country.
“The Department of Finance has been actively supporting this measure since day one. I thank the President ( Ferdinand R. Marcos Jr.) for his swift response in enacting the PPP Code, which is a testament to the government’s commitment to promoting stronger collaboration between the public and the private sectors,” Diokno said in a statement.
Diokno said the PPP Code will establish a stable and predictable environment for collaboration between public and private sectors, and address the gaps in infrastructure financing.
It will consolidate all legal frameworks and create a unified system for investors to refer to when engaging in PPP projects, he added.
“By encouraging stronger collaboration with the private sector, the law promotes innovation in processes, efficient resource mobilization, and the delivery of high-quality and cost-effective infrastructure projects and services in the country,” said Diokno.
The PPP Code will take effect 15 calendar days after its publication in the Official Gazette or a newspaper of general circulation.
The PPP Governing Board, led by the National Economic and Development Authority Secretary, is responsible for issuing the Implementing Rules and Regulations within 90 calendar days from the law’s effectivity.
Senator Sherwin Gatchalian said the creation of a PPP code is expected to enhance and sustain infrastructure development in the country.
“Institutionalizing the PPP program would help sustain the momentum of delivering needed public infrastructure to enhance the delivery of public services,” Gatchalian, co-author of the measure, said.
Gatchalian said the new law is expected to foster effectiveness in procuring and delivering infrastructure projects as it provides an enabling environment for the private sector to participate in public infrastructure projects with appropriate incentives in support of proprietary arrangements.
“Ang karaniwang nagiging balakid sa PPP program ay ang kakulangan sa koordinasyon, kawalan ng kakayahan na makakuha ng suporta mula sa iba pang mga ahensya ng gobyerno, at kakulangan ng sapat na awtoridad ng PPP Center. Inaasahan natin na matutugunan ang lahat ng ito ng ating bagong PPP code (The common hindrances in PPP program are the lack of coordination, inability to get support from other government agencies and lack of enough authority of PPP Center. Our new PPP code is expected to address these),” he said. (PNA)