THE implementing rules and regulations (IRR) of the Public-Private Partnership (PPP) Code of the Philippines are set to take effect next month, the National Economic and Development Authority (NEDA) said yesterday.
NEDA said the IRR was signed yesterday, and a copy will be released to the public today. The IRR will take effect 15 calendar days after publication, or on April 6.
The agency said the PPP Code and its IRR clarify ambiguities in the Build-Operate-Transfer Law, which was last amended in 1994, and other existing PPP legal frameworks.
NEDA said the law will speed up the delivery of affordable, accessible, and efficient public services.
President Ferdinand Marcos Jr. signed the PPP Code on December 5, 2023.
At the IRR’s signing ceremony, NEDA Secretary Arsenio Balisacan said there has never been a better and more exciting time for the private sector to participate in the PPP program.
“The government is going all out to institute reforms, address policy and regulatory roadblocks, fast-track approvals, and identify novel solutions and opportunities to enhance the business climate,” he said. (ABS-CBN News)
