The National Economic and Development Authority (NEDA) Board approved the new guidelines on reviewing and approving public private partnership (PPP) proposals.
Under the new guidelines, the ICC approval for projects costing P15 billion and above is expected to be completed within 113 calendar days, with a maximum limit of 120 calendar days.
It said that for projects below P15 billion, ICC approvals should be completed in 83 to 90 calendar days, with a possible extension of up to 120 calendar days.
The approved ICC guidelines will be published on the websites of NEDA, the Department of Finance and the PPP Center. They are effective immediately.
“With the right policies and enabling investment ecosystem, we hope our partners from the private sector can join us in the crucial task of nation-building as we continue on our journey toward a Bagong Pilipinas,” NEDA Secretary Arsenio Balisacan said.
The NEDA Board also approved the proposed revisions to the UP-PGH Cancer Center PPP Project’s parameters, terms and conditions.
The increase in the center’s project cost from P6.05 billion to P9.49 billion will cover the rise in a built-up area from 20 to 27 floors and the procurement of cutting-edge technology and equipment to provide patients and medical students with world-class services and facilities for education.
With cancer as the second leading cause of death in the Philippines, the UP-PGH Cancer Center will be a 300-bed hospital providing state-of-the-art cancer treatment to both charity and paying patients. At the same time, the hospital will also serve as a teaching and research facility to meet the country’s demand for more medical professionals specializing in cancer prevention and treatment.
The project is expected to be completed by the end of 2027 and will start operations by early 2028.
“As we envision Filipinos enjoying the benefits of livable communities, the government remains committed to providing them with basic needs such as healthcare and education toward sustained improvements in their overall quality of life,” Balisacan said.
The NEDA Board also approved the Department of Education’s Basic Education Development Plan (BEDP) for 2030 and the MATATAG Agenda, which aims to provide all children, out-of-school youth, and adults with equal access to quality basic education.
“The NEDA Board recognizes the importance of human development in pursuing social and economic transformation. The BEDP 2030 is the country’s first medium-term plan for basic education, covering formal K-to-12 education and non-formal education for youth and adults,” Balisacan said.
“This initiative primarily addresses our students’ learning losses during the pandemic and strengthens the government’s investment in the welfare of our children,” he said.