The Public-Private Partnership Code or Republic Act 11966 took effect on Saturday, December 23.
The measure was signed by President Ferdinand Marcos Jr. on December 5.
The PPP Code will establish a stable and predictable environment for collaboration between the public and private sectors to address the gaps in the infrastructure systems and also free up much-needed resources to enable the government to pursue other equally important projects and initiatives.
The new law would incorporate best practices from decades of experience in implementing the Build-Operate-Transfer Law and will ensure that the country will build better infrastructure projects and mitigate risks during their implementation.
In a news release, the PPP Center said the landmark legislation “unifies the fragmented PPP legal frameworks in the country under one governing law.”
The law also tasked the PPP Governing Board (PPPGB) with crafting the PPP Code implementing rules and regulations (IRR) within 90 calendar days of its effectivity.
The PPP Center said that in anticipation of the issuance of the IRR, the PPPGB has taken proactive measures to ensure the smooth transition and continuity of ongoing PPP projects in the country.
On December 21, the PPPGB, chaired by National Economic and Development Authority Secretary Arsenio Balisacan, approved the interim guidelines to provide stakeholders with critical guidance to prevent delays in ongoing PPP projects due to the new law.
The interim guidelines offer clarity on the applicable rules for projects after the PPP Code becomes effective but before the promulgation of the IRR, according to the PPP Center.
“These guidelines will remain valid until superseded by subsequent interim guidelines or upon the effectivity of the IRR,” it said. — VBL, GMA Integrated News
