The NEDA has released the “2023 Revised Guidelines and Procedures for Entering into Joint Venture (JV) Agreements between Government and Private Entities” following the approval of the National Economic and Development Authority (NEDA) Board chaired by President Ferdinand Marcos, Jr. last March 9, 2023.
The amendments, which took effect on April 25, 2023, were the result of consultations with various stakeholders and are part of the Marcos Administration’s push for improvements in the regulatory and policy environment for investments, particularly those pertaining to Public-Private Partnerships (PPPs) and infrastructure. In addition, the provisions are aligned with the Revised 2022 Implementing Rules and Regulations of the Build-Operate-Transfer (BOT) Law and the PPP Act.
“The amendments have been designed to enhance competition for projects under joint ventures, enhance the performance of private sector participants, and strengthen checks and balances to ensure the technical and financial viability of government projects. These changes aim to address recurring issues that have been observed in past JV projects,” Socio-Economic Planning Secretary Arsenio M. Balisacan said.
The revisions include safeguard provisions aimed at promoting the pooling of resources and expertise between government and private entities through JVs as a viable, efficient, and practical alternative for achieving the development goals of the government.
This issuance was in accordance with Section 8 of Executive Order No. 423, dated 30 April 2005 which mandates NEDA, in consultation with the Government Procurement Policy Board, to provide the necessary guidelines on JVs.
A copy of the 2023 Revised Guidelines and Procedures for Entering into Joint Venture (JV) Agreements between Government and Private Entities is available through this link.