PPP Center highlights importance of PPP Code in infrastructure development

The Public-Private Partnership (PPP) Center highlighted the role of Republic Act No. 11966, or the PPP Code of the Philippines, and its Implementing Rules and Regulations (IRR) in establishing the ideal business environment for public-private partnerships and foreign investments. This was during the German-Philippine Chamber of Commerce and Industry Doing Business Forum 2024, titled “Navigating Opportunities in the Philippines for Sustainable Growth,” held on May 29, 2024, at Makati Diamond Residences, Makati City.

In his presentation, PPP Center Deputy Executive Director (DED) and Assistant Secretary Jeffrey I. Manalo introduced the newly enacted PPP Code and its IRR. He discussed key features of the new Code, addressing fundamental changes and reforms introduced therein specifically to expedite and stabilize PPP implementation in the country.

DED Manalo underscored the importance of the Code in facilitating stronger collaboration with the private sector and in supporting the nation’s drive for social and infrastructure development.

During the panel discussion, DED Manalo emphasized policy reforms incorporated in the PPP Code, including the reduced timelines of processing PPPs compared to earlier frameworks, which will enable the country to be on par with other markets in terms of project implementation, and encourage private sector participation in PPPs.

The panel also highlighted the multiplier effect of PPPs in local ecosystems. Through its development, surrounding communities also benefit via increased business revenues, employment generation, and growth in fiscal resources.

The Forum intended to provide valuable insights into the latest policies, reforms, and opportunities in the Philippines and focused on key issues such as regulatory changes, ease of doing business, and new investment opportunities.