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Recto: PPP Code IRR to open floodgates for non-stop influx of strategic, high-quality investments benefiting all Filipinos

Finance Secretary Ralph G. Recto has welcomed the recent signing of the Public-Private Partnership (PPP) Code implementing rules and regulations (IRR) and underscored that it will open the floodgates for a non-stop influx of strategic and high-quality investments that will benefit all Filipinos.

“The signing came at a very opportune time when the Philippine economy is in robust shape to welcome investors. We are leaving no opportunity untapped to entice investors to come to the Philippines. With the PPP Code IRR in place, we have unlocked the floodgates for a sustained flow of strategic investments that will deliver top-tier infrastructure and public services to the Filipino people,” he said.

Signed into law on December 5, 2023, the PPP Code offers a stable, predictable, and competitive environment where high-quality PPP investments can thrive.

It consolidates all legal frameworks and creates a unified system for investors to refer to when engaging in PPP projects.

Furthermore, it leverages the experience and clarifies the ambiguities in the Build-Operate-Transfer (BOT) Law, which was last amended in 1994, to integrate best practices in streamlining processes, reducing transaction costs, and enhancing the ease of doing business for PPPs.

The PPP Code will directly support the Marcos, Jr. administration’s objective of closing the infrastructure funding gap to bolster economic development.

Under the Build Better More program, the government commits to invest in 185 infrastructure flagship projects (IFPs) worth PHP 9.14 trillion, 45 of which will be financed through PPPs.

“The PPP Code will empower us to optimize resource mobilization while harnessing the private sector’s expertise, including innovative techniques and cutting-edge technologies, to deliver cost-effective infrastructure projects and services across the country,” Secretary Recto said.

Since January, the PPP Code IRR Committee, of which the DOF is the Vice Chairperson, held 23 extensive consultations and information sessions, gathering input from 840 comments across public, private, and development sectors.

These discussions were open, inclusive, and constructive and highlighted the crucial trust between the

Read more on dof.gov.ph