A first-term lawmaker on Tuesday hailed the recent signing of Republic Act 11966, or An Act Providing for the PPP Code of the Philippines, saying the measure will boost the country’s infrastructure development.
Bulacan 6th District Congressman Salvador Pleyto, vice chair of the House Committee on Public Works and Highways, agreed with the Palace that the measure would promote “a stable and predictable environment for collaboration between the public and private sectors.”
“I welcome the recent signing of the Implementing Rules and Regulations (IRR) of the Public-Private Partnership (PPP) Code which will serve to facilitate the implementation of the provisions of Republic Act 11968, otherwise known as PPP Code of the Philippines,” Pleyto, one of the principal authors of RAB11966, also said.
The PPP Code, Pleyto said, aims 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 PPP Code incorporates best practices from over three decades of experience in implementing the Build-Operate-Transfer (BOT) Law, ensuring that the country build better infrastructure projects and mitigate risks during their implementation,” the lawmaker added.
“The implementation of these PPP projects will result to a more vibrant economy of our country, moreso, with the creation of thousands of job opportunities the whole country,” Pleyto stressed.
The government had identified 197 priority infrastructure flagship projects, totaling around $155 billion, with at least 39 earmarked for financing through PPPs.
“I wish to thank the IRR Committee for the fast crafting of the PPP
Code IRR which was approved by President Ferdinand R. Marcos, Jr. last December 5, 2023,” he said. “With the approval of the IRR of PPP Code, it will bolster the Build Better More Program of President Marcos, Jr. with the government’s commitment to implement at least 185 flagship projects costing P9.14 trillion, which according to report, 45 big-ticket projects shall be financed through PPPs,” he added.
Presidential Communications Office Cheloy Garafil said the PPP Law
aims 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 PPP Code incorporates best practices from over three decades of experience in implementing the Build-Operate-Transfer (BOT) Law, ensuring that the country build better infrastructure projects and mitigate risks during their implementation,” she added.