MANILA, Philippines — An estimated P9.14 trillion worth of 185 flagship projects under the Marcos administration may soon commence following the signing of the implementing rules and regulations of the Public-Private Partnership (PPP) Code, according to lawmakers.
Rep. Salvador Pleyto Sr. of Bulacan’s sixth legislative district said the recent approval of the IRR of the PPP Code (Republic Act 11966) simply means this would “further accelerate infrastructure development in the country.”
“This will bolster the ‘Build Better More’ program of President Marcos, with the government’s commitment to implement at least 185 flagship projects costing P9.14 trillion, of which 45 big-ticket projects shall be financed through PPPs,” he said.
The administration lawmaker, one of the principal authors of the PPP Code in the House of Representatives, said the signing of the IRR of the PPP Law would result in a more vibrant economy, with potential to create thousands of job opportunities across the country.
“This will ultimately redound to the benefit of all Filipinos because these PPP projects are expected to generate jobs for our people and will boost our economy which has been reeling from the more than two-year global pandemic, worsened by inflation and the Ukraine and Israel-Hamas wars,” Pleyto said.
The IRR was recently signed by the IRR committee headed by NEDA Secretary Arsenio Balisacan, IRR committee vice chairperson and Finance Secretary Ralph Recto and Budget Secretary Amenah Pangandaman.
Rep. Joey Salceda, chairman of the House ways and means committee, said Marcos’ signing into law of the PPP Code would generate more funds needed to fill the country’s “infrastructure investment gap” by as much as P23 trillion.
“The PPP Code (Republic Act 11966) move is toward a rules-based, transparent, and efficient PPP framework that will help cover the P23 trillion infrastructure investment gap of the country,” the second district congressman from Albay province remarked.
Manila has been lagging behind its Asian neighbors in terms of foreign direct investments.
Salceda said the PPP Law has been a “pet bill” of the President even when he was still a senator, of which he “worked for much of his Senate career.” “It’s a vision he has held onto for much of his political career, so I am very glad that we now have it in law,” he said.
He said he and then-senator Marcos discussed the proposed measure from back then, when he was still Albay governor and the latter headed the Senate committee on public works, where Marcos “discussed his own version of the PPP Law.”
